Hedkayse began in 2015 when Tony Walker and George Fox set out to solve a common problem in helmet safety. They wanted to create a helmet that could withstand multiple impacts without losing its protective qualities.
At the same time, they aimed to make it portable enough for urban commuters. Their solution was the Hedkayse helmet, designed with Enkayse®, a durable material that offered unmatched safety and convenience.
Its foldable design and ability to recover after impacts made it stand out in the market.
In November 2019, Tony and George pitched their idea on Season 17, Episode 7 of Dragons’ Den. They sought £100,000 in exchange for just under 4% equity.
The Dragons praised the innovative concept, but concerns about the business’s valuation and scalability emerged.
Tej Lalwani made an offer. However, the founders turned it down due to the large equity stake requested. Ultimately, they left the Den without a deal.
Despite this setback, Hedkayse didn’t stop growing. By 2023, they integrated TwICEme smart technology into their helmets. This feature allowed first responders to access safety profiles during emergencies.
Estimated valuation as of 2024 is approximately £600000, based on a conservative revenue multiple and industry growth rates.
In 2024, they expanded into rugby with the launch of the R5 headguard, approved by World Rugby. These advancements highlighted the company’s adaptability and commitment to innovation.
Over the years, Hedkayse also invested more than £2 million in research and development. This demonstrated their dedication to creating the toughest and safest head protection products.
Hedkayse’s story is a testament to the power of resilience and innovation. Their journey offers invaluable lessons for entrepreneurs looking to make an impact. So, what can we learn from Hedkayse’s success?
Let’s dive into 5 Simple Business Lessons You Can Learn from Hedkayse and explore how their strategies can inspire your own business growth.
5 Simple Business Lessons You Can Learn from Hedkayse
1. Innovation to Solve Real Problems
Hedkayse tackled a major issue in the helmet industry: traditional helmets lose their protective capabilities after a single impact. This leaves users exposed to further risks.
This lesson highlights the importance of addressing significant market gaps. By solving this issue, Hedkayse established itself as a trusted name in safety gear for cyclists and beyond.
“The material Enkayse® recovers after an impact…one of our helmets had 200 impacts, and at the 201st, it was like a brand-new helmet fresh out of the box.”
Solution:
To solve this problem, Hedkayse developed Enkayse®, a proprietary material that can endure multiple impacts without losing its protective function.
This breakthrough innovation offered a reliable and durable alternative to traditional helmets. It provided users with peace of mind in real-world scenarios.
Is your product solving a critical issue? Look for gaps in your industry and create innovative solutions that make life easier or safer for your customers.
Takeaway:
True innovation solves real problems. Hedkayse’s Enkayse® material transformed helmet safety by addressing a widespread concern. Entrepreneurs should aim to identify and tackle similar challenges to create products that stand out.
2. Adapt and Diversify to Broaden Your Market
Hedkayse demonstrated the importance of flexibility by extending its core technology to new markets, including rugby. Expanding into other industries opens new growth opportunities. It also reduces dependence on a single product line.
“We will continue to expand our range of the safest and toughest sports protection on the market.”
Solution:
In May 2024, Hedkayse launched the R5 headguard for rugby, which was approved by World Rugby. This move allowed the company to address safety concerns in high-impact sports. It showcased how their innovative material could meet diverse needs beyond cycling.
Are you tapping into the full potential of your product? Explore new markets and applications to maximize your reach and impact.
Takeaway:
Adaptability is essential for business growth. Hedkayse’s expansion into rugby shows how exploring new applications for existing technology can unlock untapped opportunities. Entrepreneurs should look for ways to extend their solutions to new industries.
3. Leverage Technology for Added Value
Adding advanced technology can increase the value of your product and build customer trust. Hedkayse enhanced its helmets by integrating TwICEme smart technology. This made safety more accessible during emergencies.
“The Hedkayse customer cares about their safety, appreciating the benefit of a helmet that looks after you, rather than you having to look after it.”
Solution:
In 2023, Hedkayse introduced TwICEme technology. This allows emergency responders to access a user’s safety profile with a smartphone. The feature added practical value to the product and set it apart in a competitive market.
How can technology elevate your product? Add features that address customer pain points and build their trust in your brand.
Takeaway:
Technology can be a game-changer. Hedkayse’s smart helmet integration showed that even small innovations can make a big difference in customer experience. Entrepreneurs should explore how technology can enhance their product’s value.
4. Focus on Unique Selling Propositions (USPs)
Standing out in a crowded market requires a clear focus on what makes your product unique. Hedkayse did this by emphasizing two standout features: their helmet’s ability to withstand multiple impacts and its foldable design for portability.
“Foldable to fit into your bag…unique; no one’s done a product like this before.”
Solution:
Hedkayse emphasized these USPs in their Dragons’ Den pitch. They compared traditional helmets to their innovative product. By focusing on durability and convenience, they created a compelling case for why customers should choose their helmets.
What sets your product apart? Identify your unique features and ensure they are front and center in your marketing and pitches.
Takeaway:
A strong USP makes your product memorable. Hedkayse’s focus on durability and portability made their helmets stand out. Entrepreneurs should highlight what makes their product the best option for their target market.
5. Resilience is Key to Growth
Facing setbacks is part of every entrepreneur’s journey. Despite being rejected on Dragons’ Den, Hedkayse used the experience to improve their product. They also expanded into new markets, showing that persistence is vital to success.
“We’re going to do our best to make sure they thoroughly regret it.”
Solution:
After leaving Dragons’ Den without a deal due to disagreements over valuation, Hedkayse continued innovating. They introduced smart features and entered the rugby market. This showed that rejection didn’t slow them down.
Have you faced rejection? Turn setbacks into stepping stones by refining your product and pushing forward with determination.
Takeaway:
Resilience is what separates success from failure. Hedkayse’s persistence in the face of challenges shows that setbacks are temporary if you remain focused on your goals. Entrepreneurs should use obstacles as opportunities to grow stronger and better.