President's Challenge Presentation Zoom | Summary and Q&A

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June 4, 2012
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Harvard Innovation Labs
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President's Challenge Presentation Zoom

TL;DR

Zoom is the first large-scale car sharing network in India, providing convenient vehicle access while reducing traffic and pollution.

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Key Insights

  • 😨 Car sharing has been successful in Western Europe, North America, China, Turkey, and Brazil. India presents a huge market potential for car sharing.
  • 🎴 The rising middle class in India, cultural shift towards self-drive, and low car ownership rates make car sharing a viable and attractive transportation solution.
  • 🚙 Car sharing can reduce traffic congestion, pollution, and the number of vehicles on the road.
  • 🚙 Zoom has valuable partnerships with vehicle manufacturers, technology providers, real estate developers, and universities, which provide discounts, financing options, and strategic support.
  • 😤 Zoom's founders and management team have a strong background in entrepreneurship, finance, and technology, and are committed to the success of the company.

Transcript

zoom is taking the car sharing business model similar to zipcar two cities in India it's the first large-scale formal car sharing network in India it provides convenient vehicle access to millions more Indians while at the same time taking vehicles off the road and resulting in fewer miles driven it brings together the technological and operational... Read More

Questions & Answers

Q: Why is car sharing a viable option in India?

Car sharing addresses the need for occasional vehicle use in a country with low car ownership rates and heavy traffic congestion. It provides a flexible and cost-effective alternative to owning a car.

Q: What advantages does Zoom have as a first mover in the Indian car sharing market?

Being the first car sharing organization in India, Zoom benefits from first-mover advantages and faces barriers to entry for potential competitors. These advantages include switching costs for users, favorable media coverage, limited parking spots, long-term contracts with institutional customers, and scale benefits for members.

Q: What are the social and environmental benefits of car sharing in India?

Car sharing reduces the total number of miles driven, leading to lower traffic congestion and pollution levels. It also incentivizes smarter driving and carpooling, and allows individuals to use small, efficient vehicles for daily commuting and larger ones for occasional trips.

Q: Why is Bangalore chosen as the initial launch city for Zoom?

Bangalore has a high population density, a tech-savvy middle-class population, extensive university networks, and a well-developed public transportation system. These factors make it an ideal city for car sharing, as people may only need a private vehicle for occasional trips.

Summary & Key Takeaways

  • Zoom Car Sharing is bringing the successful car sharing business model to India, where car ownership rates are low and traffic congestion is high.

  • The majority of Indians cannot afford to own cars, but still have a demand for vehicles for occasional trips.

  • India is a ripe market for car sharing due to its growing middle class, cultural shift towards self-drive, and the need to reduce traffic and pollution.

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