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#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!
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
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”
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.