TEAM STARKERS MOTORSPORTS :: Business Plan Event - 8th Quad Torc (AIR-2)

Summary

Starcus Engineering Works, an automobile manufacturing solutions provider, addresses industry challenges like technology stagnation and skilled labor shortages. They offer a one-stop solution with reliable manpower, no minimum order requirements, and competitive rates. With a focus on the Indian market, they aim to be a leading startup, manufacturing for student teams and startups. Their marketing strategies include engineering blogs, Motorsports sponsorships, and workshops. Revenue projections show significant growth, with partnerships with EV startups like Sony and D Express contributing to their financial success. They seek 1.5 crores for a 10% equity stake to expand and acquire advanced machinery.

Takeaways

• 🚀 Starcus Engineering Works is an automobile manufacturing solution provider that aims to solve problems in the industry such as a lack of advanced technology and skilled labor.
• 🔧 They identified the industry's phase as 2.2 and noted issues like material seller monopolies, authenticity concerns, and high costs due to long lead times and material unavailability.
• 🛠️ The company offers a one-stop solution for vehicle manufacturing, with reliable and skilled manpower, fast response times, no minimum order requirements, and standard rates for special parts.
• 📈 They are leveraging Industry 4.0 to provide a large variety of operations with optimum quality.
• 👥 The founding team includes Sahil Singh (CEO), Shubham Maurya (CTO), and Tanmay Salaunkhe (CMO), who bring a combined vision to create a successful one-stop solution company.
• 🎯 Their mission is to deliver a better future to the next generation with the same excitement and experience of traditional manufacturing, ensuring safety.
• 🌟 The vision is to be a leading startup developing and maintaining world-class products and services for the Indian market.
• 📊 Initial target market is Mumbai-based student teams and various automobile startups, with a gradual shift towards industries.
• 📈 Revenue projections for the first half of 2020 were 2.59 lakhs, with an estimated over 5 lakhs for the second half, boosted by a tie-up with EV startup Sony.
• 💹 Future financial predictions show a revenue of around one crore by 2023, with 60% from startups and 40% from student teams, and 1.6 crores by 2024, with 75% from startups and 25% from student teams.

Q & A

What is the main focus of Starcus Engineering Works?

Starcus Engineering Works is an automobile manufacturing solution provider that focuses on creating a marketplace to deliver manufacturing solutions and material procurement for Motorsport teams and startups.

What problems did Starcus identify in the automobile manufacturing sector?

Starcus identified a lack of reliable advanced technology, an acute shortage of skilled labor, material supplier monopolies, and issues with the authenticity of parts. Additionally, there were high costs due to long lead times and material unavailability.

How does Starcus Engineering Works plan to address the identified problems?

Starcus offers a One-Stop solution for vehicle manufacturing with reliable and skilled manpower, fast response times, no minimum order requirements, and standard rates for special parts. They also leverage Industry 4.0 to provide a large variety of operations with optimum quality.

Who are the founding members of Starcus Engineering Works?

The founding members of Starcus Engineering Works are Sahil Singh (CEO), Shubham Maurya (CTO), Tanmay Salaunkhe (CMO), and the speaker who is also a part of the founding team.

What is Starcus Engineering Works' mission and vision?

The mission of Starcus Engineering Works is to deliver a better future to the next generation with the same excitement, experience, and safety of traditional manufacturing. Their vision is to be a leading startup developing and maintaining world-class products and services for the Indian market.

What are Starcus Engineering Works' initial target markets?

The initial target markets for Starcus Engineering Works are Mumbai-based student teams and various automobile startups.

What marketing strategies does Starcus Engineering Works plan to implement?

Starcus' marketing strategies include publishing engineering blogs, sponsoring Motorsports events and teams, conducting workshops and exhibitions in colleges, and promotional marketing through referral codes, coupons, flyers, posters, stickers, and merchandise.

What are Starcus Engineering Works' revenue projections for 2020 and beyond?

In the first half of 2020, Starcus generated a revenue of 2.59 lakhs, with an estimated projection of over 5 lakhs for the second half. For 2023, they project revenues of around one crore, and for 2024, they expect revenues of around 1.6 crores.

How does Starcus Engineering Works plan to utilize the investment of 1.5 crores?

The 1.5 crores investment would be used for the expansion of the company, acquiring advanced machinery costing around 55 lakhs, and investing around 25 lakhs in inventory.

What is the current valuation of Starcus Engineering Works and how was it determined?

The current valuation of Starcus Engineering Works is 15 crores. This valuation takes into account the potential of their networks, assets, and the business they have already done, including signed deals with EV startups like Solai and D Express.

What is Starcus Engineering Works' approach to handling a technical issue like engine overheating?

Starcus would handle technical issues like engine overheating by setting up a grievance portal on their website for customer complaints, scheduling recalls for problematic vehicles, offering ECU re-tuning, replacing radiator fans if necessary, and continuing R&D for cost-effective solutions. For brand building, they would issue sincere apologies, run marketing campaigns, and conduct third-party technical audits.