In the next instalment of The Superyacht Group’s Digital Dialogues, Martin Redmayne speaks with Joseph Adir, CEO and founder of WinterHaven, about driving the industry forward, considering what needs to change in order to take superyacht businesses to a whole new level.
Following a long career as a successful tech entrepreneur, as well as 15 years of involvement in finance, infrastructure and energy, Adir has developed a multidimensional disruptive project in the superyacht industry, WinterHaven. Having spotted a gap in the market, where traditional models were holding back innovation, Adir pursued the opportunity to present a paradigm shift in the way superyachts are operated, managed and maintained. Adir offers a unique and candid commentary on the market’s shortcomings and opportunities.
“I started my journey in the superyacht industry out of sheer desire to help a friend that was looking to finance a shipyard,” starts Adir. “I am well connected to all the private equity firms and investment banks in London, so I said let’s go and do it, it shouldn’t be a problem. I thought it would be a walk in the park, but down the road we realised that it was more of a walking nightmare.
“The first issue I really came across was that there was no bankable data in the industry. This was my biggest frustration, there was no audited data that banks, funds, insurance companies, pension funds and so on can rely on as solid data. In addition, five years ago there was not a single listed company in this industry on any financial markets.”
Adir’s point is a simple one; without legitimate bankable data, it becomes a great deal more difficult to attract the type of investment required to take the superyacht industry to the next level. Bankable data, he explains, should be verified by at least two independent sources, rather than relying on what he describes as the “he says, she says” data that is typically produced by the yachting community. A lack of data stifles growth and reduces the working capital available for dynamic change.
Having joined the superyacht industry five years ago, Adir’s perspective is not only fresh but also critical. Throughout this fascinating Digital Dialogue, Adir highlights the issues he perceives with the market’s current models, especially where it relates to the refit and maintenance, and outlines his solutions to a variety of problems.
To learn more about how we can drive the industry forward and create the platform for taking superyacht business to the next level, watch the full video here.
Joseph Adir, founder & CEO of WinterHaven
The One to One series is a collective campaign for change and industry improvement, and we welcome participants from all sectors. (If you would like to take part, or contribute your thoughts, please contact Research Editor, Clare Sidwell.
You can view the ever-growing archive of Digital Dialogues here.
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