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Owner: Nimrod Riccardo Sapir, Industrial Designer
Brand/start up name: MYWAY EV LTD
Product: Electric Foldable Scooter.
Type of organization: Limited series production. We are working on a second edition of scooters.
Partners: Oran Walach, MBA in economics and marketing, and Mr. Dov Meirzon, mechanical engineer.
When and how did the project originate? After I was made redundant by a start-up that developed transformable stroller bicycle I had an idea for my own start-up. So I projected and electric bending scooter that can fit into a backpack. A year later, having not found any investors, I decided to start anyway by making a simple product, even simpler than the initial idea.
How much did you invest to start the company? About 310.000,00 euros, including the costs for the design patent and my salary. For the production of the first 100 pieces we used about 55.000,00 euros.
Who invested the money? My family, friends and I after obtaining bank loans.
How far have you gone with the project? We are working towards a turning point for production and mass distribution. We assemble the scooters and we market them in our exhibitory space.
When did you understand that the project had overcome the ideational phase and had become a product? Never. I’m joking. 18 months ago, when the sales started.
Has there been a moment when you wanted to give up? Every other day, especially today. I can’t sleep at night, because I worry about work.
What is your advice for young design entrepreneurs? Do not invest too much, start small and verify that it works. The important thing is to have a flexible mind. Do not trust anybody; only trust yourselves. At the same time, do not fall in love with your idea. Never give up!