RodiBasso, CEO of E1Series, recently discussed the world's first all-electric race boat championship in a quick founder questions series with Maddyness_UK. Here are the main points:
The Spark Behind E1: Basso's love for sailing and interest in technology led him to notice a lack of electrification in the marine industry. E1 is working to fill this gap by testing new technologies to improve marine transportation and protect aquatic ecosystems.
Business Overview: E1 is a new sports and entertainment platform with nine teams racing in modern electric RaceBird boats with hydrofoils in iconic cities like Venice and Monaco. The platform combines racing, technology, and celebrity appeal while focusing on sustainability.
Evolution Since Launch: Since starting in June 2021 with funding from the Public Investment Fund (PIF), E1 has developed its top-quality infrastructure and team. The series plans to grow to more cities, with interest from stakeholders and sponsorships driving its expansion.
Funding Model: E1's funding comes from team entry fees, revenues from the host city, media rights, and sponsorships. The championship also benefits from PIF investment, which helps strengthen its financial stability and future prospects.
Challenges and Vision: Significant challenges were developing the boat's foils and aligning the team with E1's values. E1 aims for clean, efficient marine mobility and encourages innovation and testing new technologies to reduce environmental impact.
Future Plans: E1 aims to expand its calendar to 15 global races in five years, growing its team roster and forming new partnerships. The series seeks more excellent value for fans, partners, and shareholders.
Advice for Founders: Basso advises future founders to balance passion, competence, and industry knowledge. He emphasizes the importance of understanding the industry deeply, having a solid strategy, and surrounding oneself with the right people.
Personal Insights: Basso focuses his energy where it can make a difference. He has a high-performing team that supports him. Basso encourages self-awareness and concentrated effort. He sees the startup journey as a professional and personal growth experience.
Read the full article on Maddyness UK: https://www.maddyness.com/uk/2024/07/18/meet-rodi-basso-the-ceo-behind-the-worlds-first-all-electric-raceboat-championship/
