Our community boasts a vibrant group of startups, each with a unique journey and story. The Startup Spotlight series introduces their ventures, exploring their inspirations, challenges, and successes. This week we feature Richard Phamdo, CEO of Voltaic Marine, a clean-tech boat building brand specialising in electric vessels for the water sports and recreational boating markets.
How did you come up with the idea for the business?
It all started from a deep love for the water, boating, and a desire to create something new in this segment from the advancements in electric vehicles. We blend these passions and experiences to build boats that push the edge in design and technology adoption.
Why does the industry need the solution you're providing?
The boating industry is looking for more proof points in electric boats that have the right range and performance to meet their demands. Electric propulsion brings benefits by being quiet with no smell or exhaust and instant performance. We bring all these features and overcome range anxiety with our first boat to help the industry. Additionally, we just announced a partnership that brings off-grid charging to our portfolio.
What have you enjoyed most about starting your own company?
Seeing our vision come to life has been incredibly rewarding. There’s nothing like getting positive feedback from customers, dealers, and partners excited to get on the water with us. Our team came from the corporate world and we are having a lot of fun building something new. Every day brings new challenges and opportunities, which keeps things interesting.
What challenges did you have to overcome at the beginning of your journey?
At the beginning of a company, the proof of concept deployment is always the first milestone to achieve. We invested a lot of time in research and development to make sure our boats would showcase the benefits of electric and perform at the top end of the market.
Any bits of advice for entrepreneurs getting started in this space?
For anyone looking to dive into the marine industry, my advice is to stay committed to your vision and work with industry experts and partners. There are a lot of people out there who genuinely want to help and will amplify your efforts. Innovation requires persistence and adaptability. Build a strong network of like-minded individuals and organisations – collaboration can significantly boost your progress. And remember, customer feedback is gold. It helps you refine your product and business model.
What's the plan for the future of the business? Where do you see the company in 3-5 years?
Looking ahead, we plan to expand our product line to cater to different market segments. In 3-5 years, we see Voltaic Marine as a leading name in the marine industry, known for advanced vessels, energy solutions, and manufacturing. We aim to broaden our global reach, partner with other innovators, and continue advocating for environmental stewardship and technology adoption in marine recreation.
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