PHILADELPHIA, PA — NOVABOT has claimed the second position on the global stage at the 4th GCEA Entrepreneurship Competition of high prestige, which was concluded on Sept. 24, 2023.
The GCEA Entrepreneurship Competition is renowned for attracting the brightest innovators and startups across various sectors in the world. NOVABOT’s remarkable achievement reflects its dedication to promoting the boundaries of technology and its commitment to revolutionizing the future of outdoor lawn maintenance.
In the rigorous evaluation process of competition, Yulai Weng, NOVABOT’s CEO, demonstrated corporate excellence by responding to inquiries from discerning investors. The questions covered a range of critical topics, including cost-control strategies, advantages of visual positioning and strategies to stay ahead in a competitive market.
Yulai Weng addressed his concern about the proportion of RTK technology costs related to the products, stating that RTK technology currently constitutes approximately 25% of the overall production costs. However, NOVABOT has ambitious plans to raise cost efficiency by transitioning it to a pure visual-based system within the next year.
Regarding the question about NOVABOT’s advantage in visual positioning, Weng emphasized the corporate commitment to precision. NOVABOT aims to achieve an average jump value of less than 0.1% for precise positioning on small lawns. The company has already achieved an impressive 1%.
As for the question about NOVABOT’s advantage in visual positioning, Weng emphasized the corporate commitment to precision. NOVABOT aims to achieve an average jump value of less than 0.1% for precise positioning on small lawns. The company, having already achieved an impressive 1% accuracy rate, is working to achieve a 0.1% rate by the end of 2023.
Responding to inquiries about potential competition from indoor robotic floor cleaners having entered the outdoor market, Weng highlighted vast differences between indoor and outdoor environments. He stressed that NOVABOT has valuable experience of 2-3 years in the accumulation of outdoor lawn data, resulting in substantial advantages for the company. With a product already in large-scale production and a growing database of user insight, NOVABOT is poised to maintain its leadership in data-driven innovation.
NOVABOT is a manufacturer of AI robotics with a clear vision, i.e., freeing humans from mundane tasks. The corporate current focus is on the development and production of fully automatic AI lawn mowing robots, designed to simplify and enhance the lawn maintenance experience while promoting environmental sustainability.
The NOVABOT team comprises professionals from the GRASP Lab of prestigious University of Pennsylvania, a leading name in the research of robotics. With over 50 team members and laboratories in the United States and China, NOVABOT has consolidated its position as a global leader in outdoor lawn visual obstacle avoidance technology.
This accolade as NOVABOT’s product range has entered mass production, with deliveries already underway to its valued crowdfunding backers. Starting from autumn 2023, consumers worldwide can place orders for NOVABOT products through NOVABOT.com. as its official website.
NOVABOT’s achievement at the 4th GCEA Entrepreneurship Competition underscores its commitment to innovation and excellence. As the company continues to promote the boundaries of AI robotics, its vision of creating a more efficient and enjoyable outdoor living space for users remains steadfast.
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