A REVOLUTIONARY SAFE, QUIET, LONG RANGE, PERSONAL VERTICAL TAKEOFF AND LANDING (VTOL) DEVICE

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World urban population is expected to grow by 2.5B in 2050, causing severe delays to commuter, freight and first responder mobility. This costs Europe €100B yearly and is anticipated to cause a productivity loss of €238.7 billion annually for UK, France, Germany and the USA in 2030. Various proactive actions have been proposed in recent years, with exciting developments emerging in air urban mobility, focused on personal vertical lift off, VTOL, aircraft. Many solutions developed so far are mostly electric powered limiting flight endurance to a maximum of 30 minutes due to immature battery technology, unreliable safety, bulky design (rotor configuration >4m) and excessive noise. As VB Hi-Tech Ventures, our start-up company specialising in the design of personal flying devices, we developed Audax Aero, a VTOL aircraft designed to improve flight distance to a range of 300km/2 hours without refuelling, while improving pilot safety thanks to a hybrid propulsion system that also reduce noise levels. Our target users are first responders, cargo delivery companies, commuters and recreational industry who need quick transportation and improved mobility to inaccessible areas. We are targeting the UAVs for first responder market projected to reach €106B in 2019, UAV market which is expected to grow by €1.69B from 2016 to 2023 and VTOL market which is expected to reach €4.3B in 2026. We have invested €150,000 for the development of Audax Aero and we will validate the functionality and specifications by conducting computer simulations and testing a prototype to be built in Phase 1 as well as search for development and component supply partners. In addition to developing an Intellectual Property strategy and dissemination plan, we will also outline the activities and timelines for the Phase 2 project towards a 2022 market launch. We anticipate a profit and revenue of €9,93M and €19,26M for the 5 year exploitation period respectively, with 160 employment opportunities created.