What do Hydroflyer, ENVGO, Otter Bike, Charter Itinerary, and many other marine technology companies have in common? Well, they’re all startups in a global industry that can be difficult to break into: yachting.
But this story interests me because all of those companies have worked with Yachting Ventures, which was founded to help marine leisure startups gain visibility, secure funding, and grow.
“We want to be the TechCrunch of the marine leisure industry,” says Gabbi Richardson, founder of Yachting Ventures. “When we started, we were more of an incubator program where we connected successful entrepreneurs in the industry with the next generation of founders.”
“But we’ve grown to the point where we now focus on helping founders with a new product understand what the fundraising process entails, what investors are looking for, how they should communicate their value proposition, and, finally, presenting them to investors at the various pitch competitions we organize throughout the year.”
“We also create innovation spaces at boat shows to give the startups we work with a springboard to greater visibility alongside us.”
I’ve been following Yachting Ventures for years, so I can say they have a solid track record when it comes to helping startups. A good example is Hydroflyer. “Hydroflyer is an affordable hydrofoil water toy with handlebars, which means practically anyone can use it,” explains Richardson. “The team has exhibited with us at both the Palma and Dubai boat shows, and Wired magazine recently featured them in a story.”
Another example is ENVGO. “ENVGO was founded by Mike Peasgood to produce a futuristic hydrofoil boat, built by a highly capable team that already has an initial public offering worth over $200 million under its belt,” he notes. “They recently closed a major funding round with a Canadian venture capital firm and caused a sensation at the Toronto Boat Show as the only hydrofoil boat on display.”
Then there’s Otter Bike. “Otter Bike is a fun electric water toy, perfect for taking on board superyachts, designed for families and anyone who wants to explore bays or the coastline. Its founder, Gian, has a true entrepreneurial story: he started out in his garage and has been gaining momentum; now they’ve partnered with Nautical Ventures for distribution in the United States.”
Charter Itinerary, on the other hand, is not a boat, a jet ski, or an electric toy. “It’s a dynamic startup that’s revolutionizing and digitizing the way charter clients of Northrop & Johnson, Burgess, Fraser, IYC, and Ocean Independence book and prepare for their charters,” says Richardson with a smile. “The team has exhibited with us at Metstrade and has been part of our community for quite some time.”
We’ll have to keep an eye on him.