Princeton Pitch 2008: Results

The Winner: Tony Xiao '12 - AirCrumble Technologies

Transcript of Tony Xiao '12's winning pitch:

We all know that car accidents are bad, that one in a hundred Americans are injured every year in more than 6 million car accidents. But have you ever wondered what is the economic cost of all those car crashes? 230 billion dollar every year! But it doesn't have to be that way. If we can help people save on those 230 billion dollars, then that's where our potential market comes from. And that is what my company, AirCrumble Technologies, is about.

Inspired by the Mars Pathfinder, AirCrumble is an automobile protection device from my previous research project. It predicts collision and deploys external airbags in front of vehicle bumper moments before impact. Without going into the technical details, what this means is that I can smash a car into a solid wall at 30 mph without doing almost any damage to the vehicle or the passenger.

Let's consider how a product like this will be received by the market. There is currently a "safety race" in the auto industry. For example, Volvo claims to build the injury-proof vehicle by 2020. Surely AirCrumble will be a great asset to their arsenal. Insurance companies will be very happy if the only cost in crash claim is to replace a safety device, which we project will cost around 10 – 15 hundred dollars, rather than an entire vehicle. Most importantly, AirCrumble is a safety as well as financial investment for consumers. The system can easily pay for itself should an accident happen. Or even better, if the purchase is subsidized by insurance companies, AirCrumble pays for itself regardless. This is a positive self-sustaining cycle that we consider extremely promising.

I invite you to hear more about us. I mean, why not?