Biz Model for Google Lens

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These slides use concepts from my (Jeff Funk) course entitled Biz Models for Hi-Tech Products to analyze the business model for Google’s Smart Lens. Its smart lens monitors a diabetic’s sugar levels with a contact lens that measures the glucose in tears. This provides users with faster feedback on their glucose levels than with other meters and thus can help diabetics better manage their life styles. The smart lens contains circuitry that is fabricated on a polymer substrate. We recommend that Google market its lens through a medical equipment supplier such as Medtronic and focus on the collection and sale of the user data to health care companies.

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Biz Model for Google Lens

  1. 1. Business Model for Google Smart Lens Arun Balu A0110204J Ka Mung Chee A0098573M Hanisah Hannifah Gupta A0098462U Ler Ming Lim A0098570U 1 MOT5016 Business Models for Hi-Tech Products
  2. 2. Agenda Introduction Value Proposition Industry & Market Analysis Technology Comparison Scope of Activities Value Capture Strategic Control 2
  3. 3. Diabetes • Diabetes is a metabolic disease in which the person has high blood glucose (blood sugar). • 2 major types of Diabetes: Type 1 Diabetes (Insulin-dependent) o Your body makes too little or no insulin. o Occurs commonly in patients under 20 years of age. Type 2 Diabetes (Non-insulin dependent) o Your body can not use the insulin it makes o 90% of diabetic patients are affected with type 2 Diabetes. 3 No cure exists today, can only be managed through lifestyle changes and drugs (insulin).
  4. 4. Glucose Meter Evolution 4 1950 1960 1970 1980 1990 2000 2010 Urine Analysis Visual Digital Readout Blood Glucose Self Monitoring (BCSM) Continuous Glucose Monitoring (CGM) Blood Analysis
  5. 5. Glucose Meter Evolution 5
  6. 6. Problem Statement • The traditional method of using a lancing (pricking) device is disruptive and painful and needs to be done repeatedly throughout the day. • Many diabetic patients check their blood glucose less often than they should leading to poor diabetes management. 6 finger tip calluses
  7. 7. 7 Google smart lens demo
  8. 8. What does Google Lens Do? • Monitor glucose levels from tears by using sensor • Transmit data via antenna to the users mobile device • Provides a trend -continuous glucose level reading per 1 second • LED lights to warn users when their glucose levels dangerously exceed too high or fall too low. 8
  9. 9. Value Proposition 9
  10. 10. Value Proposition A continuous and painless method to monitor glucose levels for better diabetes management. • Continuous glucose monitoring- Eliminates the need for users to actively perform blood testing • Mobility to users- Wearable system can be integrated with lifestyle • Accurate readings ensures efficiency and safe use • Coupled with healthcare informatics for insulin dosage and remote monitoring • Reusable allows a cost effective solution (estimated USD 100/month). 10
  11. 11. Industry & Market Analysis 11
  12. 12. Global Diabetes Market • Diabetes Device Industry- > US$12.2 billion (2012) • Exponential increase in Diabetic patients • Trend of patients getting younger (lifestyle, dietary, less physical activities reasons) 12IDF Diabetes Atlas 6th edition. 2013. International Diabetes Federation
  13. 13. Target Customers • Young diabetic professionals (20-45 years) • More active and mobile lifestyle • More technology savvy • Early users- Athletes, current contact lens users 13 IDF Diabetes Atlas 6th edition. 2013. International Diabetes Federation
  14. 14. Technology Comparison 14
  15. 15. Competitors 15 FDA Approved Sept 2013
  16. 16. Competitors’ Analysis 16Accuracy Comfort (Non Invasive) Convenience Reusable Cost effectiveness Mobility for patients Continuous Reading16 High Low Glucose Meter ‘Gold Std’ Continuous Glucose Monitor Glucose Meter Watch Google Smart Lens
  17. 17. Scope of Activities Bringing it to the market… 17
  18. 18. Bringing it to the Market • Challenges for manufacturing • In/Open innovation ? • Alliance? 18
  19. 19. Key technology involved • MEMS • Antenna • Lens (polymer) • RF o Power o Date transfer • Manufacturability • Healthcare informatics 19
  20. 20. Manufacturability • New ways of manufacturing to embed MEMS into a polymer. o Polymer and MEMS manufacturing technique is not compatible o Materials used in MEMS needs to be biocompatible o MEMS needs to be manufactured separately and connected on the polymer using 20 Source: http://spectrum.ieee.org/biomedical/bionics/augmented-reality-in-a-contact-lens/0
  21. 21. Putting it all together… • Parts were fabricated on wafers • Each part has metal interconnects o Each is etched with a unique shape • A substrate that is lithographed with defined shape is prepared to hold parts together • Micro-scale soldering of joints 21 Source: http://spectrum.ieee.org/biomedical/bionics/augmented-reality-in-a-contact-lens/0
  22. 22. Healthcare Informatics New services can be derived with the use of this lens which opens up new opportunities • Remote monitoring of glucose level • Possibility of Insurance compliance? • Valuable data collection • Real time Insulin dosage adjustment 22
  23. 23. In house Out Source Lens ✓ Microcontroller ✓ Sensor ✓ RF ✓ Manufacturability ✓ Healthcare informatics ✓ 23 Keeping it in or Open Innovation?
  24. 24. Value Capture 24
  25. 25. Value Capture 25 Patient Physician/ Hospital Medtech Industry (Medtronic) App-lens Developer
  26. 26. Value Map 26
  27. 27. Which Company to Partner? Medtronic o World leader in medical device technology and therapies o MiniMed Insulin pumps for continuous monitoring and insulin pump therapy o Technology Licensed from NASA o Connected Care o Have own solution for non- invasive glucose monitoring (Enlite) 27 Source: http://www.diabetando.net/sites/default/files/1_medtronic-minimed.jpg
  28. 28. Strategic Control 28
  29. 29. Emerging Wearable Computing Industry 29 • New growth industry • $12 billion industry by 2018
  30. 30. Strategic Control 30 R&D -Wearable medical technology - Strategic Partnership Healthcare Informatics -Insurance compliance -Remote monitoring Standards -compatibility -Regulatory compliance Strategy -Acquisition of start-ups -Vertical integration Success & Sustainability
  31. 31. Conclusion • New Technology o Continuous Monitoring o Non invasive o Unprecedented Mobility for Patients • Emerging Market o Healthcare informatics – Google’s core competencies! • New value proposition o Insurance Compliance 31
  32. 32. Thank You Questions? 32
  33. 33. Back up slides 33
  34. 34. Competitors’ Analysis 34 Feature Google Smart lens Glucose meters (“Golden Standard”) Continuous Glucose Monitoring Medtronic MiniMed GlucoWatch Mode of measurement Contact lens worn to measure glucose level in tears Finger pricking to measure glucose level in blood Tiny sensor inserted under the skin to check glucose levels in tissue fluid Sensor at the back of watch measures the glucose in the fluid under the skin Accuracy Highly sensitive sensor Golden standard Measures interstitial fluid glucose Reference method Reusable Yearly Strip- 1x use Up to 6 days Skin pad Every 12 hours Convenience Lens is easy to put on Frequent test Change every 3-6 days Change every 12 hours, 2 hours warm up Comfort Non-intrusive Frequent finger prick Insertion under skin non-intrusive with small electric current Non-invasive Lens worn on the eye Finger prick Sensor is worn at the abdomen Watch worn on the wrist Mobility Wearable technology Testing strips/kits to be brought alongside, Frequent testings Replacement of sensor required Wearable technology, Replacement of sensor pads required Continuous readings Yes, up to 1 s intervals No 5-minute or 1- minute intervals every 10 mins
  35. 35. Cost Comparison 35 Contact Lens GlucoWatch Glucose meter Continuous Glucose Monitoring – Medtronic Enlite Google Smart lens Sensor pad $240 (monthly, $4 per pc) Test strips $85 Monthly (4x/ day testing, 75 cents per test strip. Transmitter unit $375 Sensor $473 Monthly (5 pcs) $100 Monthly (1 pair with 1 sensor) Watch $140 Reader $20-$70 $40 (Monthly disposables)

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