TRIDENT – Technology for Sports Timing and Wellness Activities
Ignite Project Milestones
- Launch into the North American market through a dedicated distribution facility located in the US. Commence: 1-Dec-16.
- Regionalise products and Establish ‘rules of engagement’ to ensure that the US distributor has every chance for success and meets its obligations to Trident.
- Optimise manufacturing throughput to meet forecast growth from US demand. Commence: 1-Dec-16.
- To meet product delivery expectations for the US market (and future export markets) investment is required to fully automate our current manual and semi-automated manufacturing processes.
- Commercialise ‘Blue Ocean’ opportunity, for sports timing market leadership, with the world’s first single-use timing system. Commence: 6-Mar-17.
- The commercialisation of the world’s first single-use timing system (tags and timing point) will open up a vast ‘blue ocean’ of new customers, by allowing Trident to sell products and services directly to Sports Event Managers. In collaboration with a large US sports apparel company, and two advanced manufacturing partners, the goal is to design manufacturing processes that can dramatically reduce the manufactured cost of both our single-use Bib/Chest Tag and the physical Timing Point.
- Growth of export revenues from $650K in 2015 to $2.5M in 2016/17
- 15 new jobs
- Bringing hi-tech manufacturing to Moreton Bay, QLD.
- Improved health and wellbeing of Australian and global communities
Image: Redcliffe Jetty, Moreton Bay, 28th May, 2016
Our products started shipping in 2015, through the global Regional Distributor and Reseller network that we established. This network on-sells to Sports Timing Service Providers who are focussed on Fun Runs, Cross Country, Cycling, Multisport and Scholastic events.
We also offer direct sales of our timing tags and systems via our Online Webshop
As a socially responsible business, we are engaged with Local Government providing timing infrastructure in the fight to combat sedentary behaviour. These systems are used to record activity and encourage and reward increased aerobic exercise within community, with a goal of improving wellbeing. Here’s an example in partnership with the Moreton Bay Regional Council: www.moretonbay.qld.gov.au/otag/
1.3Bn Participants in 10 Sports:
Achieving Revenues of:
- US$550K in 2014/15
- US$650k in 2015/16
With support from Ignite Ideas, our target in 2016/17 is to achieve sales of US2.5M, and create 15 new jobs in QLD, over the next two years, through greater expansion into the US market, followed next by Japan, Sub-Saharan Africa and China.
Why target the US initially? – because surveys1 estimate that the US accounts for 42% of the (in excess of) US$235, billion global sports market. Historically the US represents 38% of our total sales, with greater than 80% of all of our sales being exported.
- Source: NPD Group
Our Unique Selling Proposition
Trident offers timing technologies that allow Timers to succeed in any and all environmental conditions, maintaining extremely high detection rates with an industry best 99.98% accuracy.
This is achieved by offering ‘seamlessly’ substitutable technologies that:
- Operate at high speed (up to 300km/hr)
- Operate in wet, salty/sweaty, muddy and even submerged conditions
- Operate in mass-participation events where low cost and convenience are the primary drivers.
- Operate where long operating time (power conservation) is critical
All of the products offered by Trident have the same ‘look and feel’ and use the same methods of operation. Our customers can move between timing technology platforms, needing no additional knowledge. They can simply choose the right timing technology for the job – comfortable in the knowledge that it will ‘just work’.
This unrivalled flexibility allows Trident to participate in, and extract maximum value, across the entire Sports Timing ‘value chain’ spanning ‘pre-start to post-finish’.
Trident can deliver this flexibility because the unrivalled depth, capability and experience of its Engineering Team allows it to perform, from low (chip-level) integrated circuit development, upwards. We can build solutions, to an exact prescription, to achieve ‘fitness for purpose’ in the Sports Timing industry.
By contrast, all of our competitors must work with ‘what they can get’, from someone else.
To solve industry problems, they must work-around the limitations of their more generic approach, and sometimes off-the-shelf technologies simply don’t ‘cut it’. Trident is able to remove these limitations.
This claim is not just ‘talk’; The credibility of Trident’s Engineering Team is evidenced, by products that the team developed, in use every week in thousands of events worldwide, and in iconic events like London and Tokyo marathons. Cruelly, we lost this business in 2009 as a result of the GFC. It was acquired from the debenture holder, by the multi-billion-dollar company Active Network, in February 2015.
Importantly however, the team that developed these products remains intact in Redcliffe, QLD. Trident’s Engineers imagined and created new technology that is vastly superior to that used in first-generation products, and on top of these new foundations, a considerably expanded product portfolio was built. Prudently, the Intellectual Property that was created has been protected by patents in all important jurisdictions.