7. #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”
8. We talked to 30+ consumers
People weren’t crazy …but we learned what
about fridge cameras… does matter to people
A camera sounds kinda
Shopping takes too
interesting. Maybe that
much time!
would be useful.
I can’t imagine paying I buy things solely based
for something like on what deals are
that, 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.
9. Big ideas from the FridgeCam phase
The best way to learn how to interview people is to
get out and do it…it gets easier
People dislike food waste, but…they care a lot
more about time efficiency, deals, and variety
Do we need hardware? Why build a camera when
we all have them in our phones? No friction!
12. 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
13. We tested with an MVP
A classic:
Have some onions?...why not try some bison meatballs?
14. 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
18. 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
19. 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
20. But…
What happens when the dog catches the car?
food waste healthy food sell more Oreos?
22. What did shoppers tell us?
Food shopping is annoying b/c it takes too much time
Many are trying to eat healthy, but don’t have time to
cook … Eating out more
Decision fatigue is a problem for people shopping after
work
23. 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”
25. We interviewed a lot of people and ran tests
We interviewed:
Produce Food Industry
Wholesalers Entrepreneurs Consultants
Food Restaurant End
Distributors Operators Customers
Conducted Cooked & sold rice paper rolls in Palo
MVP: Alto and on campus
Tested “snack after lunch”
26. Value Chain / Areas for Innovation
Selling /
Supply Final
Preparation Cooking Queue
Chain Packaging
Mgmt
Customer
Acquisition
Real Estate /
Distribution
Experience
27. What we learned: Finance and operations timeline
Financing - 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-Out
1 2 3 4 5
Year
28. 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
29. Our goal is to became a
branded food company that
consumers trust as a partner
in their quest to eat healthy
and sustainably.
Send us a picture of your fridge /freezer / pantryTake a quick survey so we get to know you betterWe will send you a customized recipe with shopping suggestions for the weekDidn’t like it? We’ll send you a new one!You will receive targeted coupons from CPGs in exchange for sharing your home inventory dataCPGs get real time, reliable visibility into consumers’ consumption habits
Send us a picture of your fridge /freezer / pantryTake a quick survey so we get to know you betterWe will send you a customized recipe with shopping suggestions for the weekDidn’t like it? We’ll send you a new one!You will receive targeted coupons from CPGs in exchange for sharing your home inventory dataCPGs get real time, reliable visibility into consumers’ consumption habits
We focused on value prop and customers segments
Send us a picture of your fridge /freezer / pantryTake a quick survey so we get to know you betterWe will send you a customized recipe with shopping suggestions for the weekDidn’t like it? We’ll send you a new one!You will receive targeted coupons from CPGs in exchange for sharing your home inventory dataCPGs get real time, reliable visibility into consumers’ consumption habits
Wekinda pivoted:Why:Knowing what’s in their fridge to make a better decision at the grocery stores is not a major pain point for customersA camera system to install in the fridge is too big of a hassleIdea: Have people take the picture and send it to us?SoTime it takes to shopHaving to plan multiple meals for the week in advanceEnd up getting the same thing every weekInefficient use of time at the store as a resultHaving to search 1,000s recipes onlineGetting the best prices / deals
20-second survey: we wanna get to know youHow many people will you be cooking for?Type of recipe: quick & easy vs. elaborateBreakfast, lunch, dinner, snacks?Anything you do not eatPlanning to grocery shop over next 3 days?
We will send you a customized recipe with shopping suggestions for the weekDidn’t like it? We’ll send you a new one!
Questions CPGs ask: What happens with my products after it leaves the store?How do my products interact with competitors products?How do people stack/use my products at home?
Consumers:Willing to share photos of their fridge and pantryFridge photos reveal useful info about food inventoryPeople value personalized recipe suggestions… and couponsCPGs:Fridge inventory data enables targeted marketingLowers barriers to doing primary market research for small CPGs
Send us a picture of your fridge /freezer / pantryTake a quick survey so we get to know you betterWe will send you a customized recipe with shopping suggestions for the weekDidn’t like it? We’ll send you a new one!You will receive targeted coupons from CPGs in exchange for sharing your home inventory dataCPGs get real time, reliable visibility into consumers’ consumption habits
Advantages to “Typical” Finance and Operations Timeline:Staged development minimizes riskFinanciers are essentially purchasing a real option (if 1st right of refusal on future rounds)Minimizes risk and uncertainty at each “check point”Allows for larger follow-on rounds of financing if milestones are achieved
Advantages to “Typical” Finance and Operations Timeline:Staged development minimizes riskFinanciers are essentially purchasing a real option (if 1st right of refusal on future rounds)Minimizes risk and uncertainty at each “check point”Allows for larger follow-on rounds of financing if milestones are achieved
Advantages to “Typical” Finance and Operations Timeline:Staged development minimizes riskFinanciers are essentially purchasing a real option (if 1st right of refusal on future rounds)Minimizes risk and uncertainty at each “check point”Allows for larger follow-on rounds of financing if milestones are achieved
