Our company, Edit on the Spot, helps video content creators to automate video editing for ‘talking-head’ videos and repurpose it almost instantly.
Edit on the Spot is in its Beta testing phase with over 75 clients tested, given reviews, and expressed willingness to pay. We are now raising money to launch our first product - Zoom integration offering automated AI top’n tail editing. This product is 95% ready.
The ideal clients are regular video content creators such as: podcasters, vloggers, influencers, coaches/consultants.
Other users will include SMEs with a podcast marketing strategy, training organisations, government agencies, conference and seminars industry, coaching and mentoring services, and academia
We have identified a Serviceable Obtainable Market of 25M content creators, users of off-the-shelf video conferencing, live streaming and online editing services from the 650M daily users of all popular platforms (Zoom, Twitch, Teams, Facebook, Youtube, etc) and 125M Total Attainable Market.
They can be found on mentioned platforms as relevance and visibility is important for them.
Problem or Opportunity
Video content now is King. A lot of video content is never seen because it is too complex and time-consuming to edit. Edit on the Spot automatically repurposes video recordings for online content creators. It serves the need to create video content with ease and speed so it can be shared swiftly, therefore, gaining momentum and efficiency in communicating the creator’s message.
Solution (product or service)
We are unique compared to the competition in that we are a “Done-for-You” service and that we are first to market in providing this service at scale. Our goal is to productise our AI editing service for different markets and platforms within a wide array of use cases. Our vision is to revolutionize video content creation by making post-production redundant, meaning that video editing for repurposing content will be done in real-time without the need to manipulate any files after finishing filming.
An alternative is to hire a video editor that uses professional tools such as Adobe Premiere, Final Cut Pro, Corel VideoStudio, or edit themselves using iMovie, Magisto, WeVideo, Filmora, Biteable, Moovly, Clipchamp, Animaker, Bitable, Invideo, Animoto, Wave.video.
Right now remote live editing is currently achieved in sporting and broadcasting events with specialised equipment. We are looking to democratise the technology, making it available as a simple ‘done-it-for-you’ remote editing realt-time solution offered through a global platform.
Advantages or differentiators
Edit on the Spot is taking advantage of existing broadcast “edit-while-ingest” technology and brings it to the mass market, with the objective to develop a fully automated system with machine-learning artificial intelligence that will allow it to scale globally.
Edit on the Spot trains machines to make technical and creative decisions about how to edit video content with talking human subjects, such as presentations, lectures, interviews, conversations and narrations.
A credit-based Subscription model allows unlocking more features with more expensive packages. Each new user receives 100 credits, renewed every month. Users are rewarded for referring new users, linking their social media accounts and for participating in promotional campaigns.
Freemium subscription revenue model to purchase credits used for purchasing premium services. Each credit is $1USD and the Edit on the Spot basic “top & tail” service is 1 credit/min. Premium services are priced according to the complexity of the editing and the required resources. The web platform offers a credit calculator and payment gateway to estimate the costs of each project.
The go-to-market strategy is through integration with video conferencing and live streaming platforms, as well as virtual/hybrid event platforms.
Money will be spent on
USE OF FUNDS: Marketing and Sales 30% Web App 25% Customer Support and Delivery 30% Ai & Features 15%
That the competitors will implement it sooner. But it just means that we will pivot and find a narrower niche.
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Over a span of a few short months, we were awarded a Startup of the Year Bronze Prize at Stevie® Award in The 2021 International Business Awards®, became winners of the Techstars Startup weekend and I won the Global Business Mothers One to Watch Award and were accepted into one of the most reputable accelerators in the world - Founders Institute.
We have also received a local grant from the Queensland government (Australia)