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18   phi optics-i-corps-finalpresentation-draft
18   phi optics-i-corps-finalpresentation-draft
18   phi optics-i-corps-finalpresentation-draft
18   phi optics-i-corps-finalpresentation-draft
18   phi optics-i-corps-finalpresentation-draft
18   phi optics-i-corps-finalpresentation-draft
18   phi optics-i-corps-finalpresentation-draft
18   phi optics-i-corps-finalpresentation-draft
18   phi optics-i-corps-finalpresentation-draft
18   phi optics-i-corps-finalpresentation-draft
18   phi optics-i-corps-finalpresentation-draft
18   phi optics-i-corps-finalpresentation-draft
18   phi optics-i-corps-finalpresentation-draft
18   phi optics-i-corps-finalpresentation-draft
18   phi optics-i-corps-finalpresentation-draft
18   phi optics-i-corps-finalpresentation-draft
18   phi optics-i-corps-finalpresentation-draft
18   phi optics-i-corps-finalpresentation-draft
18   phi optics-i-corps-finalpresentation-draft
18   phi optics-i-corps-finalpresentation-draft
18   phi optics-i-corps-finalpresentation-draft
18   phi optics-i-corps-finalpresentation-draft
18   phi optics-i-corps-finalpresentation-draft
18   phi optics-i-corps-finalpresentation-draft
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18 phi optics-i-corps-finalpresentation-draft

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  • WE REFINED OUR VALUE PROP AND CUSTOMER SEGMENTS
  • Academia is a generic term (could be life sciences, engineering or combinations), biotech (regenerative medicine, gene therapy, crops optimization, biofuels, livestock), pharma (drug interaction/discovery)
  • Academia is a generic term (could be life sciences, engineering or combinations), biotech (regenerative medicine, gene therapy, crops optimization, biofuels, livestock), pharma (drug interaction/discovery)
  • Academia is a generic term (could be life sciences, engineering or combinations), biotech (regenerative medicine, gene therapy, crops optimization, biofuels, livestock), pharma (drug interaction/discovery)
  • Academia is a generic term (could be life sciences, engineering or combinations), biotech (regenerative medicine, gene therapy, crops optimization, biofuels, livestock), pharma (drug interaction/discovery)
  • Transcript

    • 1. Team 18 - PHI OPTICS, INC.Target: R&D for cancer and blood disordersProblem: State-of-the-art instrumentationhas limited accuracy, is expensive andlabor intensiveSolution: Faster, cheaper, and more Image source:accurate results PerkinElmerProduct: Modular attachmentfor optical microscopes usingQuantitative Phase Imaging(QPI) technology Total number of customers: 101
    • 2. OEM & Universities Bio-PharmaInvestors
    • 3. Team Members • 25 years of experience Tim Hoerr working with start-ups in life sciences, bio-tech and Business Mentor materials science • CEO of Serra Ventures • World leading expert in noninvasive biomedical imaging Gabriel Popescu • Co-inventor on 23 US Principal Investigator patents for QPI-related technology • Faculty at UIUC Electrical Engineering & Beckman • Over 10 years in nanotech Catalin Chiritescu R&D and metrology Entrepreneurial Lead • Staff scientist at Materials Research Laboratories - UIUC
    • 4. Key NSF funded technology• NSF CAREER Award, CBET 08-46660 “Quantitative phase imaging of cells and tissues” – Dr Gabriel Popescu PI. $400K• NSF Major Instrumentation Grant, CBET 1040462 “Development of spatial light interference microscope (SLIM) for Materials and Life Sciences” – Dr Gabriel Popescu PI. $2M
    • 5. Market Size Diagram • Total Available Market (optical microscopy) *: $3B/yr • Served Available Market (life sciences)* (27% $0.8B TAM): $0.8B/yr$3B • No. of U.S. potential users/units (academia and $0.43B R&D): 7,000 • Target Market: $430M/yr * “Microscopy: The Global Market”, BCC Research, August 2011
    • 6. Distribution Channel Diagram Fully Scientistsfeatured Direct Sales (academia or QPI industry R&D) device • Direct feedback • Trade shows, workshops • Direct sales HW/SW and software updates • Channel efficient for > 10 units/yr Limitedfeatures QPI Co-development OEM device • No direct feedback • Trade shows, workshops • Co-development and royalties/sub-licensing deals • No control over sales
    • 7. Direct Sales customer workflowRecommenders Saboteurs RecommendersMajor Optical Saboteurs Microscopy Sales Phi OpticsOEM (Zeiss, RepresentativesNikon, Leica, Olympus) USER-BUYER Instrument Grant Agencies R&D Budget Facility Manager Industry Contracts Committee OR (CTO, VP Fees User of R&D) Private Scientist Funding Funding Saboteurs Key Opinion Peers Leaders Influencers Influencers
    • 8. OEM customer workflow SaboteursCompetitive Players Phi Optics Lead Business Dev End Users (Medical,Influencers Saboteurs Lead Product Dev Bio-pharma, Influencers VP of R&D Academia) DECISION MAKER Product Dev Budget Committee
    • 9. Customer Archetypes (Direct Sales) • Manager instrument facility • Constant lookout for new technologies • Large budgets • Potential earlyvangelists, KOLs • MANY users, ONE instrumentDr. Radu Moldovan Dr. Sung Chang • Reads: Journal of Biomedical Optics, Manager of Advanced Optics Express, Applied Optics Senior ImagingLight Microscopy Core at • LinkedIn groups : Biomarker Imaging Scientist, Imaging School of Medicine, Group, Biomedical Optics, Medical facility manager at University of Colorado- Imaging Network, Professionals in the Amgen Denver Bio-Pharma Industry, APS Physics, Biophotonics, Imaging and Optics, Optical Microscopy and Imaging • Trade Shows: BiOS / Photonics West
    • 10. Customer Archetypes (OEM) • Decision maker • Constant lookout for new technologies • Manages long term projects • Potential KOLs • MANY customers, MANY Scott Crowder instruments James Sharp Manager, Business President Carl ZeissDevelopment at Bio-Rad MicroImaging USA Laboratories • Reads: GenomeWeb, BioSpace, Fierce Biotech, Cell • LinkedIn groups: Professionals in the Bio-Pharma Industry, BioTech Analytical & Process Development Professionals Network, Business Development • Interests: Technology transfer, business development, industry licensing • Trade shows: BiOS / Photonics West, BIO International Convention, JP Morgan healthcare conference
    • 11. Direct Sales Payment Flow Component Phi Optics vendors UIUC OTM Procurement Dept FAST Grant Agencies Instrument FacilityIndustry Contracts Manager OR User Fees Private Scientist SLOW
    • 12. OEM Payment FlowComponent Phi Optics vendors UIUC OTM Procurement Dept SLOWProduct Dev Product Dev + Budget Business Dev ($) +Committee Legal (royalties) FAST
    • 13. Competitive Players• Lyncée Tec – $$$, no integration, low-Q, proven• Phasics – $$, easy integration, low-Q, unproven• IATIA – $, some integration, low-Q, unproven• Phi Optics - $, easy integration, high-Q, proven
    • 14. Canvas 1.07. Key Partners 5. Key Activities 1. Value 4. Customer 2. Customer Proposition Relationships Segments- Joint ventures with - New techOEM - Refine and improve - Nanoscale Imaging - Personal assistance NANOTECH &- Buyer-supplier existing tech - Affordable - Co-creation SEMICONDUCTOR &relations with - Customer contact for - Better Than BIOSCIENCESour equipment new applications Competition - OEM companiesproviders - Attract talent - Easy To Integrate - University R&D - Industry R&D - Medical Institutions 6. Key Resources 3. Channels - Human resources - Trade shows - Prototypes - Web site - Patents - Scientific equipment - Licensing/royalty distribuitors deals9. Cost Structure 8. Revenue StreamsFIXED: people, R&D facilities, manufacturing - Co-development deals, royalties from OEMVARIABLE: marketing & sales - Transaction revenues from direct sales - Post-purchase customer support including software updates
    • 15. Canvas 2.07. Key Partners 5. Key Activities 1. Value 4. Customer 2. Customer Proposition Relationships Segments- Joint ventures with - Hardware/software - Nanoscale Imaging - Personal assistance - OEM companiesOEM development - Affordable - Co-creation - University R&D- Buyer-supplier - Search for new - Better Than - Online customer - Industry R&Drelations with applications Competition communities - Medical Institutionsour equipment - Attract talent -Easy To Integrateproviders Label-free imaging of live cells, quickly, Life Sciences accurately, inexpensively Where R&D -academia do we -bio-pharma 6. Key Resources 3. Channels bring the Optical - Human resources - Trade shows - Website “inform” most Instruments - Prototypes - Scientific equipment - Patents and OEM distribuitors value ? OEM - Licensing/royalty - Direct sales deals9. Cost Structure 8. Revenue StreamsFIXED: people, R&D facilities, manufacturing - Co-development deals, royalties from OEMVARIABLE: marketing & sales - Transaction revenues from direct sales - Post-purchase customer support including software updates
    • 16. Canvas 3.07. Key Partners 5. Key Activities 1. Value 4. Customer 2. Customer Proposition Relationships Segments- Joint ventures with - Hardware/software - Nanoscale Imaging - Personal assistance - OEM companiesOEM development - Affordable - Co-creation - University R&D- Buyer-supplier - Search for new - Better Than - Online customer - Industry R&Drelations with applications Competition communities - Medical Institutionsour component - Attract talent -Easy To Integrate Live Cells & Tissuesvendors R&D- UIUC OTM for -academialicensing rights -bio-pharma Label-free, non-invasive Optical Instruments TEST: is our imaging of live OEM Value Prop cells, quickly, 6. Key Resources accurately,by validated 3. Channels - Trade shows - Human resources the users ? inexpensively - Website “inform” - Prototypes - Scientific equipment - Patents and OEM distribuitors - Licensing/royalty - Direct sales deals9. Cost Structure 8. Revenue StreamsFIXED: people, R&D facilities, manufacturing - Co-development deals, royalties from OEMVARIABLE: marketing & sales - Transaction revenues from direct sales - Post-purchase customer support including software updates
    • 17. Canvas 4.07. Key Partners 5. Key Activities 1. Value 4. Customer 2. Customer Proposition Relationships Segments- Joint ventures with - Hardware/software - Nanoscale Imaging - Personal assistance - OEM companiesOEM development - Affordable - Co-creation - University R&D- Buyer-supplier - Search for new - Better Than - Online customer - Industry R&Drelations with applications Competition communities - Medical Institutionsour component - Attract talent -Easy To Integratevendors Live Cells & Tissues- UIUC OTM for Label-free, non- R&Dlicensing rights invasive imaging of -academia live cells, quickly, -bio-pharma accurately, inexpensively Optical Instruments OEM Accurate and time- 6. Key Resources , cost-efficient 3. Channels imaging of live - Trade shows - Human resources cells and tissues - Website “inform” - Prototypes - Scientific equipment - Patents and OEM distribuitors - Licensing/royalty - Direct sales deals9. Cost Structure 8. Revenue StreamsFIXED: people, R&D facilities, manufacturing - Co-development deals, royalties from OEMVARIABLE: marketing & sales TEST: how much will you save by - Transaction revenues from direct sales using our product ? - Post-purchase customer support including software updates
    • 18. Canvas 5.17. Key Partners 5. Key Activities 1. Value 4. Customer 2. Customer Proposition Relationships Segments- Buyer-supplier - Hardware/software - Nanoscale Imaging - OEM companiesrelations with development - Affordable - Feasibility tests - University R&Dour component - Search for new - Better Than - Earned media - Industry R&Dvendors applications Competition - Value co-creation - Medical Institutions- UIUC OTM for - Attract talent -Easy To Integrate - Online customerlicensing rights -Label-free, non- GET communities (forum, Facebook, Twitter) R&D invasive imaging of live cells, quickly, KEEP -Technology updates - Referrals -academia -bio-pharma accurately, inexpensively GROW - Trade-shows (Photonics West) - Sponsored Accurate and workshops time-, cost- 6. Key Resources 3. Channels efficient - Human resources imaging of live What is the -Web site “inform” - Prototypes cells and and gather info - Patents best way to tissues requests - Licensing/royalty reach the - Direct sales customers ?9. Cost Structure 8. Revenue StreamsFIXED: people, R&D facilities, manufacturing - Transaction revenues from direct salesVARIABLE: marketing & sales - Post-purchase customer support including software updates
    • 19. Canvas 5.27. Key Partners 5. Key Activities 1. Value 4. Customer 2. Customer Proposition Relationships Segments- Buyer-supplier - Hardware/software - Nanoscale Imaging - OEM companiesrelations with development - Affordable - Feasibility tests - University R&Dour component - Search for new - Better Than - Value co-creation - Industry R&Dvendors applications Competition - Medical Institutions-UIUC OTM forlicensing rights - Attract talent -Easy To Integrate GET - Trade-shows, sponsored workshops OEM of- Joint ventures withOEM to identify market Label-free, non- invasive imaging of KEEP - Technology Optical updatesneeds live cells, quickly, accurately, GROW Instruments inexpensively (Carl Zeiss Time-, cost- GmbH, Bio- 6. Key Resources efficient 3. Channels Rad Labs) - Human resources imaging of live What is the -Web site “inform” - Prototypes cells and - Patents best way to and gather info tissues requests - Licensing/royalty reach the - OEM distribution customers ?9. Cost Structure 8. Revenue StreamsFIXED: people, R&D facilities, manufacturing - Co-development deals, royalties from OEMVARIABLE: marketing & sales
    • 20. Canvas 6.17. Key Partners 5. Key Activities 1. Value 4. Customer 2. Customer Proposition Relationships Segments- Buyer-supplier - Hardware/software - Nanoscale Imaging - OEM companiesrelations with development - Affordable - Feasibility tests - University R&Dour component - Search for new - Better Than - Earned media - Industry R&Dvendors applications Competition - Value co-creation - Medical Institutions- UIUC OTM for - Attract talent -Easy To Integrate - Online customerlicensing rights communities (forum, R&D -Label-free, non- Facebook, Twitter) -academia invasive imaging of -Technology updates -bio-pharma live cells, quickly, - Referrals accurately, - Trade-shows inexpensively (Photonics West) - Sponsored Accurate and time-, workshops cost-efficient imaging 6. Key Resources of live cells and tissues 3. Channels - Human resources -Web site “inform” - Prototypes and gather info - Patents requests - Licensing/royalty - Direct sales9. Cost Structure 8. Revenue Streams -Transaction revenues from direct salesFIXED: people, R&D facilities, manufacturing - Software add-onsVARIABLE: marketing & sales - Post-purchase customer support including software updates
    • 21. Canvas 6.27. Key Partners 5. Key Activities 1. Value 4. Customer 2. Customer Proposition Relationships Segments- Buyer-supplier - Hardware/software - Nanoscale Imaging - OEM companiesrelations with development - Affordable - Feasibility tests - University R&Dour component - Search for new - Better Than - Value co-creation - Industry R&Dvendors applications Competition - Trade-shows, - Medical Institutions-UIUC OTM for - Attract talent -Easy To Integrate sponsoredlicensing rights OEM of Optical workshops- Joint ventures with Label-free, non- Instruments (CarlOEM to identify market invasive imaging of - Technology updates Zeiss GmbH, Bio-needs live cells, quickly, Rad Labs) accurately, inexpensively Time-, cost-efficient 6. Key Resources imaging of live cells 3. Channels and tissues - Human resources -Web site “inform” - Prototypes and gather info - Patents requests - Licensing/royalty - OEM distribution9. Cost Structure 8. Revenue StreamsFIXED: people, R&D facilities, manufacturing - Co-development agreementsVARIABLE: marketing & sales - Royalties and sub-licensing deals
    • 22. Canvas 7.17. Key Partners 5. Key Activities 1. Value 4. Customer 2. Customer Proposition Relationships Segments Buyer-supplier - Hardware/software - Nanoscale Imaging - OEM companies development - Affordable - Feasibility tests - University R&Drelations with - Search for new - Better Than - Earned media - Industry R&Dcomponent applications Competition - Value co-creation - Medical Institutionsvendors - Attract talent -Easy To Integrate - Online customer communities (forum, R&D -Label-free, non- Facebook, Twitter) -academiaEarlyvangelists invasive imaging of -Technology updates -bio-pharma live cells, quickly, - Referrals accurately, - Trade-showsFunding inexpensively (Photonics West)sources - Sponsored Accurate and time-, workshops cost-efficient imaging UIUC OTM for of live cells and tissues 3. Channels 6. Key Resourceslicensing rights - Human resources -Web site “inform” - Prototypes and gather info - Patents requests -Licensing/royalty - Direct sales - Funding sources9. Cost Structure 8. Revenue StreamsFIXED: people, R&D facilities, manufacturing -Transaction revenues from direct salesVARIABLE: marketing & sales - Software add-ons - Post-purchase customer support including software updates
    • 23. Canvas 7.27. Key Partners 5. Key Activities 1. Value 4. Customer 2. Customer Proposition Relationships Segments- Joint ventures - Hardware/software - Nanoscale Imaging - OEM companies development - Affordable - Feasibility tests - University R&Dwith OEM (Carl - Search for new - Better Than - Industry R&D - Value co-creationZeiss GmbH, applications Competition - Trade-shows, - Medical InstitutionsBio-Rad Labs) - Attract talent -Easy To Integrate sponsored workshops OEM of Optical Label-free, non- Instruments (Carl- Buyer-supplier invasive imaging of - Technology updates Zeiss GmbH, Bio-relations with live cells, quickly, Rad Labs) accurately,component inexpensivelyvendors Time-, cost-efficient 6. Key Resources imaging of live cells 3. Channels- UIUC OTM for and tissueslicensing rights - Human resources -Web site “inform” - Prototypes and gather info - Patents requests -Licensing/royalty - OEM distribution - Funding sources9. Cost Structure 8. Revenue StreamsFIXED: people, R&D facilities, manufacturing - Co-development agreementsVARIABLE: marketing & sales - Royalties and sub-licensing deals
    • 24. THE END

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