New Parking CEO Thomas Janacek, right, and Jackie De Jong demonstrate firm's cellphone-based parking-meter service.
...Thomas Janacek, co-founder, president and CEO of New Parking, said attending this year's bootcamp will enable him and his team to better read the mood of venture capitalists.
Janacek wants to crack an estimated $3-billion North American parking-meter market and put an end to what he
calls the "tyranny of the parking meter."
Using a digital parking payment and management solution, the Calgary-based company's technology allows motorists to use their cellphones instead of coins to pay the parking meter.Aside from eliminating the need for pocket change, drivers would no longer need to worry about running back to refill an expiring meter.
"A single phone call," said Janacek
, "allows the motorist to enter the parking meter identification (found on the meter pole) through the keypad.If you have an account with us, we charge your account like a mobile phone bill.If you don't have an account, a message is played offering free parking for the first time.We pick up the cost but if you accept, it gives us permission to call you back at a later time to solicit an account."
plans to make its money from a transaction fee or a flat fee paid by the parking authority.Janacek doesn't see this as an impediment, as the company is reducing operational costs for the meter operator, such as eliminating the need to collect and count coins.
Venture capital would help the company, Janacek
said, as it finalizes program development and negotiates with customers.