Artichoke final 2013 stanford e245Presentation Transcript
Project ArtichokeBuilding a food brand that supports a healthy life style Total Interviews: 128 Kerem Alper Marc Manara Jake Miller Mark Wittman
The Dream Team: when four became oneFood Waste Healthy EatingSustainableSupply Chain Food Tech
Fridgecam – automated home food inventory
Fridgestagram – crowd-sourced market research
Rice Paper Rolls – healthy fast-food
BMC: Week 1
#1: Fridgecam – Automated home food inventory • Know what food you have at home • Know when your food is expiring • Avoid buying redundant items • Recommend recipes and shopping lists based on home food inventory“Connecting your food experiences at home with your experience at the store”
We talked to 30+ consumersPeople weren’t crazy …but we learned whatabout fridge cameras… does matter to peopleA camera sounds kinda Shopping takes toointeresting. Maybe that much time! would be useful. I can’t imagine paying I buy things solely based for something like on what deals arethat, but it sounds cool. available I don’t want to waste food, but it’s not a I want more variety in priority. my cooking.
Big ideas from the FridgeCam phaseThe best way to learn how to interview people is toget out and do it…it gets easierPeople dislike food waste, but…they care a lotmore about time efficiency, deals, and varietyDo we need hardware? Why build a camera whenwe all have them in our phones? No friction!
BMC - Fridgestagram
We are dealing with a multi-sided market Pains Gain s Primary research expensive Better ethnographic data “Nielsen nickel & dimes you” Direct connection to user Low resolution data` Planning for groceries Creativity Finding the best deals Entertainment
We tested with an MVPA classic:Have some onions?...why not try some bison meatballs?
We worked hard to test the product 28 users 30+ 4 CPGs 3 image recognition experts Recipe test: 28 40+ Coupon test: 14 + Fbook ads, Adwords, Craigslist posts
Send us a picture of your fridge/pantry
Take a survey so we know what you like
We’ll send you back a recipe
We learned how CPGs do market research TRANSACTION DATA PRIMARY RESEARCH monopoly expensive anonymous time consuming expensive low resolution not real-time small data set
So…there could be something there VALUE PROPOSITION Cheaper, higher resolution primary market research for CPGs Findings Technology feasible CPGs interested Value to customer needs work
But…What happens when the dog catches the car?food waste healthy food sell more Oreos?
So…back to the drawing board
What did shoppers tell us?Food shopping is annoying b/c it takes too much timeMany are trying to eat healthy, but don’t have time tocook … Eating out moreDecision fatigue is a problem for people shopping afterwork
Rice Paper Rolls – Healthy Fast Food Concept Fresh / Healthy Delicious No added sugar Quick Fun to eat Portable Served with healthy snack for later“Fresh, delicious food that doesn’t need to hide behind a tortilla”
BMC #3: Rice Paper Rolls fast food concept
We interviewed a lot of people and ran testsWe interviewed: Produce Food Industry Wholesalers Entrepreneurs Consultants Food Restaurant End Distributors Operators CustomersConducted Cooked & sold rice paper rolls in PaloMVP: Alto and on campus Tested “snack after lunch”
Value Chain / Areas for Innovation Selling / Supply Final Preparation Cooking Queue Chain Packaging Mgmt Customer Acquisition Real Estate / Distribution Experience
What we learned: Finance and operations timelineFinancing - Friends and Family; Angels; Crowdfunding Ops: 1st Unit - 1 or 2 locations; Proof of Concept Financing - Angels; VC Ops: Multi-Market - Market Expansion; Scalability; Execution Risk Financing - Private Equity; Corporate Partner Operations: National Roll-Out1 2 3 4 5 Year
Where do we go from here? 1 Return to testing / refining the product. 2 Determine Distribution Points Catering Drop-off Brick & Mortar Restaurant Vending Machines Pop-up Kitchens
Our goal is to became a branded food company thatconsumers trust as a partner in their quest to eat healthy and sustainably.
Team Artichoke’s big ideas for the class
Getting out of the building teaches you something inand of itself How to ask better questions How to be tenacious How you operate as a team
Make sure you want what you’re chasing
Nothing replaces vision, but these are skillsyou can improve with practice