There is plenty of options of light like that in the market in the US. I don't see any new feature on your concept that can separate it form the existing products out there. Not trying to discourage you, that is just a light with different blinking mode. How is that going to deter people hitting pedestrian, or how is it so different than the rest of the light that is out there in terms of business to generate a value?
I have many different type lights since I walk my dog and jog everyday.

Here are few pictures:
https://www.google.com/search?q=jogger+safety+light&espv=2&biw=1680&bih=925&source=lnms&tbm=isch&sa=X&ved=0CAcQ_AUoAmoVChMIs_PUsKHbxgIVxdOACh0IZAAm