Biography of Zeeshan Shahid: Founder and CEO of Motto Vest- Entrepreneur
Biography of Zeeshan Shahid:
Life-Saving Vision Born from Tragedy
Zeeshan Shahid, Founder and CEO of Motto Vest, along with
Co-Founder and CTO Ehsan Tariq, introduced Pakistan’s first biker safety airbag
jacket. Motivated by the loss of a close friend in a motorbike accident,
Zeeshan envisioned a product that could prevent such tragedies. With Ehsan's
mechanical engineering expertise, they developed an innovative airbag jacket
designed to inflate within 0.2 seconds of an accident, offering protection to
seven critical body areas, including the neck, shoulders, ribs, and spine.
Revolutionizing Road
Safety
Motto Vest’s flagship product, an IP-protected airbag
jacket, aimed to address Pakistan's alarming motorcycle accident rates. Despite
the innovation, the duo faced the daunting challenge of introducing advanced
safety gear in a market where even basic helmet usage is inconsistent. This
product was a bold attempt to redefine road safety for motorcyclists across the
country.
Seeking Support for Growth
In their Shark Tank Pakistan pitch, Zeeshan and Ehsan sought
PKR 30 million for 15% equity, valuing the company at PKR 200 million. The
funding was intended to scale production, enhance the product with sensor-based
features, and expand the business’s reach. They believed this investment would
enable them to make a significant impact on road safety.
Early Success and
Market Trials
The founders highlighted their early achievements, including
the sale of 60 airbag jackets within three months. These sales were primarily
to delivery services and adventure riders in northern Pakistan. Additionally,
they secured a bulk order of 600 jackets for a rental model, where businesses
could provide the gear to riders for PKR 50 per day. Their product even
demonstrated its efficacy during a pilot phase, saving a life and earning
endorsements from major pizza chains on LinkedIn.
Recognitions and Awards
Motto Vest’s innovation was widely recognized. The team
received PKR 5 million in grants and prestigious accolades, including the Prime
Minister’s Innovation Award, the Presidential Award, and the Shell Tameer
Award. These milestones validated their mission and showcased their potential
to revolutionize road safety.
Challenges in Adoption
Despite the promising progress, the sharks raised concerns
about market demand. They noted the difficulty of convincing Pakistani riders
to invest in a jacket priced at PKR 12,000, especially in a country where
helmets costing PKR 1,500 often go unused. This cultural and economic barrier
posed a significant challenge to scaling the business.
Scalability and Revenue Concerns
The sharks also questioned the scalability of Motto Vest’s
business model. With relatively low sales figures and heavy reliance on
business contracts, the long-term sustainability of the venture appeared
uncertain. They emphasized the need for broader market penetration to ensure
profitability.
Biography of Zeeshan Shahid: Founder and CEO of Motto Vest- Entrepreneur /airbag jacket to improve motorcycle safety/age/net worth/startup/shark tank
A Critical
Counteroffer
Romana Dada, one of the sharks, recognized the potential of
Motto Vest’s innovation and made a counteroffer: PKR 30 million for 40% equity.
She explained that her extensive involvement would be essential to overcoming
market barriers and achieving sustainable growth, justifying the higher equity
demand.
A Tough Decision for the Founders
Zeeshan and Ehsan deliberated over the counteroffer,
weighing the higher equity against the strategic guidance and financial support
Romana promised. They ultimately decided to accept her terms, valuing the
partnership’s potential to transform their vision into a successful venture.
Partnership to Scale Impact
The deal marked a turning point for Motto Vest. With
Romana’s support, the founders planned to tackle market challenges, enhance
product awareness, and expand their reach. This collaboration offered a pathway
to make their innovative airbag jackets accessible to a larger audience.
Pioneering Safety Amidst Challenges
Despite the hurdles, Zeeshan and Ehsan’s journey highlighted
the importance of innovation in addressing critical safety issues. Their
determination to create a safer environment for riders earned admiration, and
the sharks encouraged them to persist in their mission, paving the way for a
safer future in Pakistan’s roads.
Timeline for Motto Vest
Founding Vision - Zeeshan Shahid, motivated by a personal loss, envisions an airbag jacket to improve motorcycle safety. Ehsan Tariq joins as CTO, leveraging his mechanical engineering expertise.
Product Development - Creates Pakistan’s first biker safety
airbag jacket with IP-protection, inflating in 0.2 seconds and covering seven
critical body areas.
Early Sales and Pilots
- Sells 60 jackets within three months, targeting delivery services and adventure riders.
- Secures a bulk order of 600 jackets for a rental model.
- Demonstrates the jacket’s life-saving capabilities during pilot phases.
Recognitions and Awards
- Wins PKR 5 million in grants.
- Receives Prime Minister’s Innovation Award, Presidential Award, and Shell Tameer Award.
Shark Tank Pakistan Pitch (2024)
- Seeks PKR 30 million for 15% equity; receives Romana Dada’s counteroffer of PKR 30 million for 40% equity.
- Accepts Romana’s offer, securing funding and strategic guidance.
Post-Deal Focus (2024)
- Plans to scale production, integrate sensor-based features, and enhance market penetration.
- Aims to tackle cultural and economic adoption challenges with Romana’s support.
Future Goals
- Expand market reach through awareness campaigns.
- Develop rental and business partnership models to increase accessibility and adoption.
- Innovate further to make motorcycle safety affordable and widespread in Pakistan.
