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ECVC WakeSmart

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  • Good morning, my name is Arun Gupta. I’m here with my co-founder Greg Nemeth to introduce the WakeSmart and tell you how it can make you a morning person.
  • Transcript

    • 1. Arun Gupta Greg Nemeth Making you a morning person
    • 2.
      • Arun Gupta – Yale University, Applied Physics and Economics
      • Greg Nemeth – Boston College Honors Program, Finance and Information Systems
      • Dr. Robert Stickgold – Harvard Medical School, “Leading REM Sleep Researcher in the nation”
      Founding Team
    • 3.
      • Everyone has experience waking up and still feeling tired
      • Alarm clock is the #2 device people ‘hate, but can’t live without’
      • 80-90% of American drink caffeine in the morning in order to function
      • 94% of travelers crossing time zones experience jet lag
      Painpoint
    • 4. Value Proposition
      • By exploiting the science behind your sleep cycles, the WakeSmart TM will not only eliminate jet lag, but leave you feeling optimally refreshed and energized every time you wake, whether from a full night’s sleep or nap, for just $30.
    • 5.
      • It has been scientifically proven that waking at the optimal point can eliminate grogginess.
      • Our algorithm, developed with Dr. Stickgold, analyzes motion of the user’s wrist to find the optimal point to wake the user.
      Science References: Bonnet, M. H. 1983. Memory for events occurring during arousal from sleep. Psychophysiology, 20, 81–87. Bruck D, Pisani DL. The effects of sleep inertia on decision-making performance. J Sleep Res 1999; 8: 95–103. Muzet A, Nicolas A, Tassi P. Implementation of napping in industry and the problem of sleep inertia. Journal of Sleep Research 1995; 4 : 67–69. Tassi, P., & Muzet, A. (2000). Sleep inertia. Sleep Medicine Reviews, 4 , 341–353.
    • 6.
      • WakeSmart is a cell phone ‘smart alarm’ application which utilizes a Bluetooth wristband accessory to monitor your sleep cycles and wake you up at the optimal time according to your body’s natural rhythms.
      • Our motion based algorithm to wake the user was developed in conjunction with Dr. Robert Stickgold of Harvard Medical School, the leading REM Sleep researcher in the nation.
      • The WakeSmart will leave the user feeling optimally refreshed and energized as if they’ve already been awake for hours.
      • It is also includes a feature to let the user experience the ‘perfect nap.’ Either a 20-30 minute power nap or a 60-90 minute full nap.
      The Product
    • 7. The user inputs their desired wakeup time into the WakeSmart TM cell phone application. (Ex. 9:00 AM) The wristband gathers data overnight and finds the optimal point to wake the user within the 20 minute window. (8:40 to 9AM) The wristband pings the cell phone via Bluetooth to sound the alarm at the optimal time. (Ex. 8:55 AM) The alarm sounds and user wakes feeling optimally refreshed and energized and ready to start their day. USER EXPERIENCE (Wristband Version)
    • 8. Product Extension
      • Because the iPhone, and other smart phones, have built in accelerometers we can use these to monitor the users sleep cycles if it is in their pocket. While this is unappealing for a full night, it is perfect for naps for example on a train or plane when your phone is already in your pocket. We will then upsell the app into the full wristband version.
      • The second is the online analytics platform. We can analyze their data to provide personalized suggestions to the user on how to get a better night’s rest. Additionally scientists have been using motion of the wrist to evaluate insomnia, circadian rhythm sleep disorders, sleep apnea, and restless legs syndrome for years and we can provide this service at a fraction of the current cost.
    • 9. Intellectual Property
      • Provisional Patent Filed
      • Full Patent Underway
      • Key Claims:
        • Algorithm to isolate ‘periods of arousal’
        • Processing the data on the device
    • 10. Competition WakeSmart TM SleepTracker Axbo Axon Labs (now ZEO) Happy WakeUp ArousalClock Product Description Cell phone application with a Bluetooth wristband to measure motion Large digital watch with built-in accelerometer to measure motion Stand-alone alarm clock with wireless wristband to measure motion EEG sensor worn on the head to measure brainwaves Cell phone application that utilizes microphone to analyze breathing patterns Price $49.99 $179.00 $300.00 $1,000 + $79.99 Accuracy ~90% ~60% ~70% 100% Does Not Work Wakeup Window 20 minutes Adjustable (30 minutes recommended) 30 minutes N/A 30 – 40 minutes Integration with cell phone X X Unobtrusive to sleep X X Nap Function X X Widespread availability X Aggregation of user data X X Online community to improve sleep X Additional Info See Competitive Advantage Bulky and uncomfortable Has design flaws that make it virtually unusable Works well, but very high price and only available in Europe Have refocused product as a medical device Cell phone must be placed on the user’s pillow and remain there for the duration of the sleep
    • 11.
      • BETTER Science
      • - 20 min wakeup window
      • - Nap function
      • - Personal sleep management system
      • FASTER Distribution
      • - Through mobile application storefronts
      • 90% CHEAPER
      • - Retail price $30
      Competitive Advantages
    • 12. College Students 80% use phone as alarm 75% have downloaded with cell phone Initial Market Total Market Sleep Industry $24 billion Mobile Application Market $1.2 billion
    • 13. Young Professionals Target Market Medical Residents Travelers Pilots
    • 14.
      • Initially launch virtually - Advertise heavily through mobile application storefronts - sell through our own website, Amazon.com, cell phone and cell phone accessory websites
      • Expand from the consumer market to institutions - Mattress companies - Hotel and spa chains - Airlines - Armed Forces
      Distribution Strategy
    • 15. Sales Projections Assumptions 1–Year iPhone sales = .01% of average total monthly sales on iPhone App Store Wristband Units = .1% of estimated and distilled target market (college students) Assumptions 3–Year Year 2 Wristband Units = .001% of 2012 Smartphone Market Year 3 Wristband Units = .005% of 2012Smartphone Market 2012 Smartphone Market = Projected worldwide cell phone subscribers * Projected % of Smartphones * Current average application sales per iPhone user For simplicity we are assuming a constant price and sales distributed evenly over each year.
    • 16. iPhone Application Beta Prototypes Revenue Mobile Apps Testing Tooling Production Version Manufacturing 500 units Ecommerce Website Online Analytics Platform Wristband Design $100,000 $10,000 iPhone Application w/ Accessory Revenue Full Patent Application
    • 17. Pilot Program User Data $500,000 Re-iteration Manufacturing 10,000 units Revenue Holiday Launch (virtual) Viral Marketing Hire for Sales, Marketing, Management
    • 18.
      • Rich Miner – Founder of Google Android
      • Carl Yankowski – Former CEO of Palm Inc. (during IPO) and VP of Sony, GE, Pepsi, Memorex and P&G
      • David Galper – Founder of Ruckus.com
      Key Advisors

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