As an EVA, I would not invest in this venture.
Pain Point / Solution / Differentiation / Competition: The presenter is attempting to argue that there is a market gap for an app designed to translate Chinese or Japanese text to English for people travelling to those countries without the prerequisite language skills. Even in 2015, when this pitch was made, this gap was filled. Google Translate has been a free app installed on most phones for quite some time, and added the image to text function in 2012. The only thing better about this Waygo app is that it seems to be able to do the translation immediately without taking a picture. The presenter also states that the Waygo app can be used offline, but as an avid Google Translate user, I have downloaded the “dictionary” for the four main languages I use on a regular basis to my phone for offline use. The arguments made to differentiate this app from others simply are not properly addressed.
Marketing: The connection with Lonely Planet and American Airlines is a great idea, but the the pricing plan is unrealistic as well as the idea that they will be able to connect with the 10 million English speakers in China. No one would pay that much for something that they can already get for free. They needed to create an advertising model within the app as a source for revenue instead of in app purchasing.
Championship / Ask / Return: A 4 person team with 10 years of computer vision experience? That equates to less than 3 years per person, not very trust inspiring. I would like to hear about other successful ventures they may have been associated with in the past. $500,000 for this app seems a little bit high, I would like to see a better breakdown of where this money is intended to go, as well as zero reference to what returns an investor might expect.