Is there a way that I could cause additional revenue for a city, save money for consumers, clean up the

streets, clean up the economy, clean up the ecology of the city and help merchants grow their business?
Well the answer is the same thing for all of these, it's smart parking.

We're looking at this problem of parking, which really hasn't changed much in the last 30 or 40 years.
When they go from a situation where they don't know where parking is and they're searching around
like a blind squirrel and they suddenly see I look on my smartphone and I can see a bird's-eye view and
see right where parking is, then that saves them a tremendous amount of time, tremendous amount of
hassle and gives them comfort. People don't know that ,in busy times, roughly 1/3 of the moving cars
are no longer in transit. They've found their destination and now they're doing that circling motion to try
to find a parking spot. It's really a pain apart. We don't know where the parking is, we don't know where
it's available, we don't know what the price is. This is simply to solve parking on a global basis in all
major cities around the world.

There's very good statistic out there that parking is an impediment to the growth of the economy of a
city. When you reduce congestion by just 10%, you cause a growth of the GDP of the city by 2 percent,
so in a city like Los Angeles, a 2 percent growth in the GDP would translate to 22 billion dollars of
additional revenue in that city and a hundred and thirty-two thousand jobs. So, straight lines developing
hardware and software that will make parking easy.

It starts with just a sensor. A sensor that goes in the pavement. This is a wireless battery operated device
that detects the presence of a car so now we know if these spaces are full or not. That data is taken up
to the Internet. It's then put through an analytics process to determine exactly where those spaces are.
We then make that data available to consumers through a free downloadable app called Parker and
from there I can see a map view, a bird's-eye view of where parking is, what isn't, what the availability is
and what the price is. Well we're coming up to our core area where the street line sensors are at, and
we have sensors one block in each direction here and two blocks up so you can see by the different dots
here, how many parking spaces are available.

When we've done tests in major metro areas we've found that people could say 42% of the time he
used to take the park. They can save about 23% of the total mileage that they're driving to find those
parking so we're at the headquarters a straight line and we have a global sales force that is
headquartered out of a lot of foster City. We have sub offices and other continents but most of the
product is software and all the hardware development is done right here with smart parking
implemented around the world.
It's estimated that we could save 1 million barrels of oil per day. The reality of this, is that a car emits
about 10 percent of its total co2 while parking, so if we can reduce the parking time, we can reduce the
carbon emissions by simply shutting the engine off quicker. So smart parking is certainly something that
impacts the the economy of a city and the ecology of a city but it also impacts that merchant, who says I
want to be more accessible to my customers. It affects that consumer who says I want to go downtown,
but boy it sure is a pain to part so we try to solve all those problems, so that the merchants, the
consumers, the car manufacturer, they can all win together by simply taking a system that makes known
where parking is and make that information available to everyone so they can sort of connect up and
conduct business.