Columbia B7739-002Advanced EntrepreneurshipApril 18, 2012Steve BlankBob Dorf
Welcome to Day 3!Quick Announcements●     Please sit with your team members●     Name cards are helpful! Please continue t...
Take the PULZE of Your       Organization Vladimir Baranov, Jitender Chopra, RiyazHabibbhai, F. Lane Harwell, Daniello Nat...
Value PropositionsConfirmed Existing Value Propositions: Bottom Up-Employee  Engagement, Employee Ownership in Business St...
Market Size                                   Business Units                       100-499           90,386               ...
What we plan to do Day 3?• Meet with potential Channel Partner – HR Consultant• Create MVP – Product Slide to Reconnect wi...
Customer Contacts Yesterday: 11 (4 hotel concierges & 7 traveler groups)Customer Contacts To Date: 31         Ari        S...
Number of “Online Interviews”:            50,781Number of Intense, Intimate, Full- Length, Informative Interviews:        ...
Hypothesis                          Result                                    People appear to be moreThe proper price poi...
Version 2 – EOD April 16th 2012                            1. Itinerary collection &    Bakamba helps tourists            ...
Next Steps   – Uncover reason(s) for low conversion rate on Adwords   – Feedback from +/-10 or so travelers we’ve emailed ...
Authentic Asia Tea                      Tea Your Way                  Total Interviews 91:                   (39 online, 5...
Tea Lab – 04/17/2012 (afternoon)                                     What Key Activities do we     Who are our Key        ...
Tea Lab – 04/18/2012                               What Key Activities do we     Who are our Key                  require?...
Survey SpotsHarney & Sons                    Argo                           Pinkberry
Takeaways            Consumers                              Channel•Love the TEA LAB concept              • TEA LAB stores...
Business HypothesisHypothesis                        Tests                Results  Tea the way I like it         Interview...
Hypothesis TestingHypothesis                           Tests               ResultsPreferred deliver channel       Intervie...
Hypothesis TestingHypothesis                       Tests                Results                                           ...
Plan for todayExploring   • Selling TeaId information  new         to restaurant,customer      manufacturerssegmentExplori...
Kadak – 04/16/2012                               What Key Activities do we     Who are our Key                  require?  ...
Kadak – 04/17/2012 (morning)                               What Key Activities do we     Who are our Key                  ...
TEAM FACTABASEProviding Access to Detailed Industry Statistics onDeveloping MarketsDay 3: 7 InterviewsM Leong, A Farfaro, ...
DETAILING FACTABASE’S VALUE PROPOSITION FORCED US TO THINKABOUT HOW WE DIFFERENTIATE OURSELVES FROM OTHERS    What is the ...
FACTABASE OFFERS THE MOST COMPREHENSIVE AND DETAILED DATABASOF INDUSTRY STATISTICS ON DEVELOPING MARKETS AVAILABLE        ...
OUR INTERVIEWS HELPED US FOCUS OUR CUSTOMER SEGMENTSFURTHER Customer             Hypothesis                 Experiment Fin...
My Virtual Pantry                  38 Consumer Interviews (64 total)                      1 Domain Expert (2 Total)       ...
Hypotheses               Hypotheses and - Tests do?                    Results Day 2 What did we                          ...
Multi-Sided Market ExplanationConsumer Value Proposition eFood saves us time keeping track of our groceries stock, empower...
Jiae.com: Interest based platform for creative minds in China    Team: Deymon Chen, Yu Guo(Hugh), Mathias Rosenthal, James...
Business Hypothesis for Community UserBehavior                    Fashion Blogger Share / 1000                    Designer...
Interview insights From Fashion Blogger• Tumblr disrupts blogging making way easy to use, very attractive for fashion blog...
Business Hypothesis for Fashion Blogger
Interview insights From Companies• Bloggers: Some would choose to advertise through blogger rather than website• User Prof...
Business Hypothesis for Companies
Business Hypothesis for Designers
Day 2 Business Canvas for Jiae•Design School          •Platform Management    • Photo based nice and        •1:1 Customer ...
Day 3 Business Canvas for Jiae•Fashion Medias           •Platform Management    • Photo based nice and        •1:1 Custome...
Technology for medical and comfort problems of the feet                                              Advanced             ...
Day 2 Canvas                                                                                            TVM Tech          ...
Day 3 Canvas                                                                                         TVM Tech     Partners...
Market Size • Medical (sweat) – Hyperhidrosis, 1-3% impaired • General (sweat) – comfort, 10-30% problematic • $14B global...
Market Segments/Size/Spend  Active             Passive Sufferers Seekers*                    ±             Tech           ...
What Have We Learned? Hypothesis                Experiment       Results  Problem is recognized;       they have a        ...
TVM Tech Ecosystem           Dermatologists                               Podiatrists         Shoe       Component        ...
Next Steps• Verify data & hypotheses       • podiatrist, dermatologist, foot clinic, sweat-help orgs       • channels, rei...
Digital Exchange NetworkThe platform for exchanging high value services and                    information.               ...
HYPOTHESIS & RESULTS      Hypothesis                Result      Comments    NEED FOR EXCHANGE OF        INCORRECT   Many s...
CANVAS 1.1                                                --People have                                                tro...
CANVAS 1.2 CHANGES IN REDAlumni groups,                                  -- HELP PEOPLENetworking                         ...
HYPOTHESIS to test next                 TRUST IS HUGLY IMPORTANT IT IS POSSIBLE TO EXPAND YOUR NETWORK WITHOUT LOSING     ...
OTHER FINDINGS• --A few examples of extremely high willingness  to pay for info (financial services, business  school coun...
YSN: an online platform for      connecting procurement      consortiums with suppliers                                   ...
Business Model Canvas: Day 2Key Partners      Key Activities      Value                Customer              Customer•  Pu...
Logic for reexamining value proposition•   On Day 1, we asked managers of local and independent    restaurants about chall...
Business Model Canvas: Day 3Key Partners      Key Activities      Value                Customer               Customer• Ho...
Business HypothesesHypothesis 1                  •   Test 1                            Result 1•   Local/independent      ...
Findings•   Almost all interviewees listed cost control among their top three concerns•   Cost concerns were described as ...
Interviews: 17 restaurants
Business Hypothesis Restaurants         Hypothesis               Test                Results                              ...
Business Hypothesis Restaurants        Hypothesis                 Test                Results                             ...
Mobile Marketing                                             - Restaurants to reduce                             Restauran...
Diagnose your healthfrom anywhere23 New (32 Total) Interviews  Thomas   Jonathan     Melissa   Nina    Tim   Vladimir     ...
Interviews 14 12 10  8  6                                                 Tuesday                                         ...
DIAGNOSLY - Yesterday                                                                                                     ...
DIAGNOSLY - Today                                                                      Automated, Optional   Consumers    ...
Diagnosly Ecosystem                                                         Patient Data Captured:                        ...
Interviews                   SAYING                                   NEW INSIGHTS• “Every geek team has their own        ...
Possible livestock/veterinary segment: overview             Market research                               INSIGHTS• US pet...
Possible Big Pharma/Biotech segment: overview              Market research                                     INSIGHTS• C...
Tuesday Hypotheses     HYPOTHESIS                           TEST           RESULT1• Small device manufacturers            ...
Day 3 presentations columbia apr 2012
Day 3 presentations columbia apr 2012
Day 3 presentations columbia apr 2012
Day 3 presentations columbia apr 2012
Day 3 presentations columbia apr 2012
Day 3 presentations columbia apr 2012
Day 3 presentations columbia apr 2012
Day 3 presentations columbia apr 2012
Day 3 presentations columbia apr 2012
Day 3 presentations columbia apr 2012
Day 3 presentations columbia apr 2012
Day 3 presentations columbia apr 2012
Day 3 presentations columbia apr 2012
Day 3 presentations columbia apr 2012
Day 3 presentations columbia apr 2012
Day 3 presentations columbia apr 2012
Day 3 presentations columbia apr 2012
Day 3 presentations columbia apr 2012
Day 3 presentations columbia apr 2012
Day 3 presentations columbia apr 2012
Day 3 presentations columbia apr 2012
Day 3 presentations columbia apr 2012
Day 3 presentations columbia apr 2012
Day 3 presentations columbia apr 2012
Day 3 presentations columbia apr 2012
Day 3 presentations columbia apr 2012
Day 3 presentations columbia apr 2012
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Day 3 presentations columbia apr 2012

  1. 1. Columbia B7739-002Advanced EntrepreneurshipApril 18, 2012Steve BlankBob Dorf
  2. 2. Welcome to Day 3!Quick Announcements● Please sit with your team members● Name cards are helpful! Please continue to put them up● Remember to sign in when the sheet is passed around● Please grade and provide comments to the other teams‟ presentations● We have our reception 5-6pm tomorrow (Thursday) please wear your name tags. This will be a good opportunity to meet your fellow classmates and the professors over a drink Each team will have 5 minutes to present and 3 minutes for Q&AOrder of Presentations1. Pulze 7. TVM Technologies2. Bakamba 8. Digital Exchange Network3. Kadak 9. YSN4. Factabase 10. Mobile Marketing5. eFood 11. Diagnosly6. Jiae 12. Table Compass 13. Social Crowd
  3. 3. Take the PULZE of Your Organization Vladimir Baranov, Jitender Chopra, RiyazHabibbhai, F. Lane Harwell, Daniello Natoli Interviews: 14
  4. 4. Value PropositionsConfirmed Existing Value Propositions: Bottom Up-Employee Engagement, Employee Ownership in Business Strategy, Low Cost Solution to Interim SurveyNew Value Propositions:1) Template2) Analysis3) Benchmarked Data4) Gamification for increased end-user engagement
  5. 5. Market Size Business Units 100-499 90,386 500-749 6,060 750-999 3,038 TAM: 151,490 1000-1499 3,044 1500-1999 1,533 2000-2499 904 2500+ 46,525 TAM 151,490 Source: US Census,20 SAM: 136,384 SAM estimate was derived by using broadband business usage ratio. OECD TM: 34,085
  6. 6. What we plan to do Day 3?• Meet with potential Channel Partner – HR Consultant• Create MVP – Product Slide to Reconnect with Original Consultants• Research and Test Pricing
  7. 7. Customer Contacts Yesterday: 11 (4 hotel concierges & 7 traveler groups)Customer Contacts To Date: 31 Ari Scott Alex Sarah Francois Michael
  8. 8. Number of “Online Interviews”: 50,781Number of Intense, Intimate, Full- Length, Informative Interviews: 31(4 hotel concierges & 27 travelers)
  9. 9. Hypothesis Result People appear to be moreThe proper price point for our interested in purchasing our product is $4.99 itineraries at $9.99The majority of people who see 50,781 Ad Impressions our website will love it, 72 Clicks understand the offering, and 0 Purchases purchase an itineraryPeople Will Want Pre-Packaged People Want Flexibility and Itineraries Dynamic Itineraries With Options They are not interested in selling Hotel concierges might be our itineraries. They could, excellent sales agents / however, be valuable
  10. 10. Version 2 – EOD April 16th 2012 1. Itinerary collection & Bakamba helps tourists Get: PR, digital WOM, SEO, updates have richer, more SEM, consumer promotions authentic travel Tourists – Content experiences by tapping Keep/ Grow: great customer 2. Marketing / PR Purchasers into the knowledge of service, expand cities, improve partner offeringsSuppliers: local 3. Customer service – localstrendsetters, work in locals & travelers Save time planning Revenue sharing & Locals - Contenthospitality, See the “Real” City relationship marketing Providersyounger/creative, Filter based on interestsbloggers, active Everything in one place Mass Distributors – Mass Distributors –parents Content Purchasers Unique platform for locals Content Purchasers Hotel Concierge)Get itineraries: $$ for experts to share and • Search (SEO/SEM)sales as well as 1. Web developers monetize their local • Social mediaexposure (blog, video) 2. Marketing/PR team knowledge • Travel blogs / sites 3. Local expert outreach Potential idea: Provide recommendations and info • Craigslist 4. Sales force (low end, • Social media in person) to concierges • Local blogs How: Sell itinerary for $4.99, pay local 20%, keep 80% gross Fixed costs: upfront development of site and app margin. How: Sell itinerary for $9.99, pay local 10%, keep 90% gross Variable costs: talent/people, marketing/advertising, margin. Pricing tactics: compete between guidebooks & free compensation of locals, product iterations st
  11. 11. Next Steps – Uncover reason(s) for low conversion rate on Adwords – Feedback from +/-10 or so travelers we’ve emailed MVP site access – Continue to investigate WTP – not set on $9.99 – Explore additional partnership channels – Continue to explore hotel concierge angle – Explore the possibility of providing offers or deals within itineraries – Investigate ways to add dynamic / flexible element to itineraries – Try few blog / Facebook posts and check against Adwords response
  12. 12. Authentic Asia Tea Tea Your Way Total Interviews 91: (39 online, 52 in person)Adeem Fenster Stella Chan Richard JamesShashi Shrimali Sanjay Bharadwaj Neeraj Lal
  13. 13. Tea Lab – 04/17/2012 (afternoon) What Key Activities do we Who are our Key require? Partners? • How will we Get, Keep Purchasing raw material Which of our customer’s• Indian stores and Asian • Brewing tea and Grow Customers? problems are we helping • Unique, customized tea, their stores • Setting up retail outlets to solve? • way• Eventually tea makers Advertising, & marketing • consumer don’t have Who are our most • Setting up customer feedback • Consistent quality• Indirect distribution • Increase product variety important customers? channel and analysis access to quality tea through -- subway, panda • loyalty program TEA I.D. • repeat customers • Business development with outside the home express • word-of-mouth from students • health conscious customers campuses • Formula/proportions are • Customers looking for a fun • Product mix creation (campuses) Who are our key • FP&A management off • Tea tasting event to collect new experience suppliers? • Hiring customer feedback (via iPad)• Indian store from NJ Which customer needs What are their• Chinese stores from are we satisfying? archetypes? • The Indian Chinatown • Tea the “way I like it”• Grocery stores such as • The rising teen outside the home • Healthy parents Wal-mart • Tea w/out tea bags • Undergrads• Restaurant • • Cool experience / social Baby-boomers utensils/hardware What Key Resources we Through which Channels suppliers setting for tea do our Customer require? What Job do they want • Money Segments us to get done for them? What are we getting What are the Key want to be reached? • Retail outlets • Custom tea their way! from them? Giving Features of our product • Teal lab stores • POS system to track sales • Fun/unique ingredients them? that match customers • SAP system for accounting • direct-to-home • make the tea (incl. picking the• Milk, sugar, Splenda, tea problem/need? best ingredients) • License from NY / Campus • taste of our tea (quality) delivery leaves, cups, spices, • education of tea pots/pans approval • the availability of tailored flavor • Online • cool place to hang out • HR for hiring & training • speed of delivery• MONEY, more revenue • Tea brewing equipment • Convenience • Experience What are the most important costs inherent in our business model? How do we make money? What’s the revenue model? PricingFixed tactics?• Rent • Online sales for home consumption• Equipment, furniture and fixtures • Data – based on the TEA ID card! Variable • Keep the price close to Starbucks thereafter• Raw materials & supplies • Never price below breakeven even during promotion period• Employee salaries • Find ways to give them discounts (survey --- buzz discounts)
  14. 14. Tea Lab – 04/18/2012 What Key Activities do we Who are our Key require? Partners? How will we Get, Keep • Purchasing raw material Which of our customer’s• Indian stores and Asian • and Grow Customers? Brewing tea problems are we helping • Unique, customized tea, their stores • Setting up retail outlets to solve? way• Eventually tea makers • Advertising, & marketing • consumer don’t have Who are our most • • Consistent quality• Indirect distribution Setting up customer feedback • Increase product variety important customers? channel and analysis access to quality tea through -- subway, panda • loyalty program TEA I.D. • repeat customers • Business development with outside the home • health conscious customers express • word-of-mouth from students campuses • Formula/proportions are (campuses) • Customers looking for a fun • Product mix creation Who are our key • FP&A management off • Tea tasting event to collect new experience suppliers? • Hiring customer feedback (via iPad)• Indian store from NJ Which customer needs What are their• Chinese stores from are we satisfying? archetypes? • The Indian Chinatown • Tea the “way I like it”• Grocery stores such as • The rising teen outside the home • Healthy parents Wal-mart • Tea w/out tea bags • Undergrads• Restaurant • • Cool experience / social Baby-boomers utensils/hardware What Key Resources we Through which Channels suppliers setting for tea do our Customer require? What Job do they want • Money Segments us to get done for them? What are we getting What are the Key want to be reached? • Retail outlets • Custom tea their way! from them? Giving Features of our product • Teal lab stores • POS system to track sales • Fun/unique ingredients them? that match customers • SAP system for accounting • direct-to-home • make the tea (incl. picking the• Milk, sugar, Splenda, tea problem/need? best ingredients) • License from NY / Campus • taste of our tea (quality) delivery leaves, cups, spices, • education of tea pots/pans approval • the availability of tailored flavor • Online • cool place to hang out • HR for hiring & training • speed of delivery• MONEY, more revenue • Tea brewing equipment • Convenience • Experience What are the most important costs inherent in our business model? How do we make money? What’s the revenue model? PricingFixed tactics?• Rent • Online sales for home consumption• Equipment, furniture and fixtures • Data – based on the TEA ID card! Variable • Keep the price close to Starbucks thereafter• Raw materials & supplies • Never price below breakeven even during promotion period• Employee salaries • Find ways to give them discounts (survey --- buzz discounts)
  15. 15. Survey SpotsHarney & Sons Argo Pinkberry
  16. 16. Takeaways Consumers Channel•Love the TEA LAB concept • TEA LAB stores (Pinkberry for tea)• Solves the “tea my way” • Websitedilemma • Common brand• Cool setting! • Create Tea ID• Builds brand• Environment/setting is key
  17. 17. Business HypothesisHypothesis Tests Results Tea the way I like it Interview & Online 66% yes outside the home Survey Interview & OnlinePeople like to drink tea 64% in store Survey at home(Location) Interview & OnlinePreferred deliver channel Only 36% exclusively Survey – Online order online
  18. 18. Hypothesis TestingHypothesis Tests ResultsPreferred deliver channel Interview & Online 24% delivery – home delivery Survey Preferred deliver Interview & Online channel – In store 64% in store Survey Customer would like to Experience is Interview & Online drink tea in a cool important for most of Survey social setting them
  19. 19. Hypothesis TestingHypothesis Tests Results They are willing to pay up to 4$ for the rightCustomer is willing to Interview & Online team and in-storepay $2 Survey experience. 52% < 2 times perWe will have frequent Interview & Online week, only 21% 4-6repeat customers Survey times per week
  20. 20. Plan for todayExploring • Selling TeaId information new to restaurant,customer manufacturerssegmentExploring new • Identifying the price they revenue are willing to pay model
  21. 21. Kadak – 04/16/2012 What Key Activities do we Who are our Key require? Partners? How will we Get, Keep • Purchasing raw material• Indian stores and Asian • Brewing tea and Grow Customers? stores • Setting up retail outlets Which of our customer’s • Consistent quality • Increase product variety• Eventually tea makers • Advertising, & marketing problems are we helping • • loyalty program tea card• Indirect distribution Setting up customer feedback to solve? • word-of-mouth from students Who are our most through -- subway, panda channel and analysis • consumer have limited access • Business development with (campuses) important customers? express to authentic Asian tea in a • Tea cart promotion via • repeat customers, Asian- campuses • Product mix creation retail format Facebook or Tweeter immigrants consumers Who are our key • FP&A management • Tea tasting event to collect • health conscious customers suppliers? • Hiring customer feedback (via iPad)• Indian store from NJ Which customer needs What are their• Chinese stores from are we satisfying? archetypes? Chinatown • Desire to consume authentic • The Indian• Grocery stores such as Asian tea outside home • The rising teen Wal-mart • Healthy parents• Restaurant • Undergrads utensils/hardware What Key Resources we What are the Key Through which Channels • Baby-boomers suppliers require? Features of our product do our Customer • Money that match customers Segments What Job do they want What are we getting • Retail outlets from them? Giving problem/need? want to be reached? us to get done for them? • POS system to track sales • • make the tea (incl. picking them? taste of our tea (quality) • direct retail • SAP system for accounting • the availability of tailored• Milk, sugar, Splenda, tea • direct-to-home the best ingredients) • License from NY / Campus flavor • education of tea leaves, cups, spices, approval delivery pots/pans • speed of delivery • HR for hiring & training • convenience• MONEY, more revenue • Tea brewing equipment What are the most important costs inherent in our business model?Fixed How do we make money? What’s the revenue model? Pricing• Rent tactics?• Equipment, furniture and fixtures • Low Intro promotion price to attract customers($1.99) Variable • Keep the price close to Starbucks thereafter• Raw materials & supplies • Never price below breakeven even during promotion period• Employee salaries • Find ways to give them discounts (survey --- buzz discounts)
  22. 22. Kadak – 04/17/2012 (morning) What Key Activities do we Who are our Key require? Partners? How will we Get, Keep • Purchasing raw material• Indian stores and Asian and Grow Customers? • Brewing tea Which of our customer’s stores • Setting up retail outlets problems are we helping • Consistent quality Who are our most• Eventually tea makers • Advertising, & marketing • Increase product variety important customers? to solve? • loyalty program tea card• Indirect distribution • Setting up customer feedback • consumer have limited  repeat customers, channel and analysis • word-of-mouth from students through -- subway, panda access to authentic Asian (campuses) Asian-immigrants • Business development with express • Tea cart promotion via consumers campuses tea in a retail format Who are our key • • Product mix creation FP&A management Facebook or Tweeter • Tea tasting event to collect • health conscious suppliers? Which customer needs customer feedback (via iPad) customers • Hiring• Indian store from NJ are we satisfying?• Chinese stores from • X Desire to consume What are their Chinatown authentic Asian tea archetypes?• Grocery stores such as •  The Indian Wal-mart outside home • The rising teen• Restaurant What are the Key • Healthy parents utensils/hardware What Key Resources we Through which Channels suppliers Features of our product do our Customer •  Undergrads require? • Money that match customers Segments •  Baby-boomers What are we getting • Retail outlets problem/need? want to be reached? from them? Giving • POS system to track sales •  taste of our tea  direct retail/franchise What Job do they want them? • SAP system for accounting (quality) model us to get done for them?• Milk, sugar, Splenda, tea • License from NY / Campus •  the availability of • direct-to-home •  make the tea (incl. leaves, cups, spices, approval tailored flavor picking the best delivery pots/pans • HR for hiring & training • speed of delivery ingredients)• MONEY, more revenue • Tea brewing equipment • convenience •  education of tea What are the most important costs inherent in our business model?Fixed How do we make money? What’s the revenue model? Pricing• Rent tactics?• Equipment, furniture and fixtures • Low Intro promotion price to attract customers($1.99) Variable • Keep the price close to Starbucks thereafter• Raw materials & supplies • Never price below breakeven even during promotion period• Employee salaries • Find ways to give them discounts (survey --- buzz discounts)
  23. 23. TEAM FACTABASEProviding Access to Detailed Industry Statistics onDeveloping MarketsDay 3: 7 InterviewsM Leong, A Farfaro, C Bota, P Chadhuri, BAlKahtani
  24. 24. DETAILING FACTABASE’S VALUE PROPOSITION FORCED US TO THINKABOUT HOW WE DIFFERENTIATE OURSELVES FROM OTHERS What is the Challenges finding detailed industry statistics on developing Problem? countries (MENA, EE, CCA, Asia, Latin America) Individuals and companies with a business interest in the above For Who? areas What do they do Limited and general (high-level) information from World Bank, IMF, today? CIA and other not for profit sources. Why the problem • Multiple sources (30 to 300 per country on average) that are not is so hard to solve? indexed • Multiple formats (mainly PDF) that require lengthy and cumbersome manual conversion • Not translated How big is the Need is confirmed by all surveyed potential customers (Size of problem? Market is to-be-determined) High quality research teams, high quality data entry, automation How do you do it? and optimization
  25. 25. FACTABASE OFFERS THE MOST COMPREHENSIVE AND DETAILED DATABASOF INDUSTRY STATISTICS ON DEVELOPING MARKETS AVAILABLE Size of Database (with similar country coverage) Number of Datasets 8X 30X Non-Profit Closest FACTABASE Organizations Competito (World Bank, IMF, r UN, and all others)
  26. 26. OUR INTERVIEWS HELPED US FOCUS OUR CUSTOMER SEGMENTSFURTHER Customer Hypothesis Experiment Finding 2 Universities would be Interview Although there is an interest an interesting segment but they have low willingness Universities for us have a strong to pay, have a complicated interest in subscription sales acquisition approach and services. are often very eager to publicize/share the database which would dilute our earning potential. Consultancies 3 The need for the Interview Research departments have (Research consumer (the an even more enthusiastic Teams) consultants, analysts, et interest than the analysts and c..) is shared with the consultants in a subscription customer (the research service and show high departments). willingness to pay. 2 App developers would App developers are only Interview App Developers be an interesting interested in licensing segment with API agreements and almost access. never do API deals
  27. 27. My Virtual Pantry 38 Consumer Interviews (64 total) 1 Domain Expert (2 Total) 1 Potential Partner / Customer(2 Total) Day 3Jyotsna Gianluigi Kerli Brian Dimita Camilla r
  28. 28. Hypotheses Hypotheses and - Tests do? Results Day 2 What did we Who? 1. Save time (finding and delivery) - YES1. Grocery Shopping and 2. Reduce costs (waste, best deals) - NOInventory Management is 3. Diet advisory - …not testedan Inconvenient Process 4. Recipes management & Revised original value recommendations - … not tested proposition & tested new 5. More universal than expected dimensions of service 38 End User 6. People who cook at home most pain Interviews (64 Total)2. Restaurants lack robustand reliable inventory 1. Save time (finding and delivery) - NOsystem for keeping track of Domain expert meeting - 2. Reduce costs (waste, best deals) –food and beverages product development for YES - Leakage rapid scaling applications • Online recipes - YES Luigi Castiglione• 3. Service improved (variety, health, time) Founder doclouisjones.com with – eFood recipe • 90% of people would pay for the developper and dietary app when linked to recipes and delivery Senior executive meeting • 50% don’t shop online but would restaurant inventory shop online with recipes management company• 4. Inventory tracking in Mike Hoffmann a user friendly manner • Leakage 20%+ for beverages Principal Bevinco • Efficiency - tracking & ordering • Many businesses face pain offer of Secondary Research a meeting on Friday afternoon• 5. Consumer base has • TECHNOLOGY main challenge value for retail supply chain stakeholders • Retailers open APIs • “Self-tracking” community • Several apps on diet/recipes
  29. 29. Multi-Sided Market ExplanationConsumer Value Proposition eFood saves us time keeping track of our groceries stock, empowers smart shopping online and connects our passion for quality food, healthy lifestyle and efficient grocery shopping, while makingfood shopping and cooking a fun, social activity at our fingertips 24/7B2B Value Proposition For the online grocery store partners eFood delivers a powerful activation platform allowing for seamless switching of offline shoppers online, while allowing sales yield to all customers.For the grocery brands eFood offers cost-effective, large scale brandand product advertising platform, with instant purchase functionality and powerful consumer insight collection capability
  30. 30. Jiae.com: Interest based platform for creative minds in China Team: Deymon Chen, Yu Guo(Hugh), Mathias Rosenthal, James Hagen 9 Interviews 2012.04.17 - Day 3 2 Fashion Bloggers 1 Designer 1 End Users 4 Companies (Gap, Citibank, Ecolab, Xiwu) 1 Google Ad Expert
  31. 31. Business Hypothesis for Community UserBehavior Fashion Blogger Share / 1000 Designers Reblog / 2 million End Users Collect / 50 million Companies Sponsor
  32. 32. Interview insights From Fashion Blogger• Tumblr disrupts blogging making way easy to use, very attractive for fashion bloggers Love: auto-format content, auto blogging, clean UI, feed for repost, easy connect to SNS Does not do well: discovery, auto posting to multiple platforms• WTP 5$/mo for Statistics tools for data such as fans, blog readers, traffic sources, etc.• Revenue incentive is high, sharing Ads and CPS can motivate them posting good content• Hobby that does not require too much efforts to maintain can keep blogger using site• Pinterest does not attract creator, who don’t find benefit to use. However, 1 blogger uses it to separate original content from others by using different boards.• Group Curation is desirable for conference, group projects, design contest, etc• High Influential Blogger with 10 million fans is more powerful than partnering with SNS• Earlyvangelist is those who hacks the products. Before Tumblr, fashion bloggers hack• Content Quality is extremely important, you don’t want bad stuff in the site.
  33. 33. Business Hypothesis for Fashion Blogger
  34. 34. Interview insights From Companies• Bloggers: Some would choose to advertise through blogger rather than website• User Profile/Demography (general data): Lots of companies are interested and willing to pay for the data.• Brand Image: Big companies care more for the quality of website than Ad price• Customer Segments: Companies care more of transforming a whole segments of users into their customers rather than individuals acquisition• High Profile Users: Medium/Small size companies are willing to pay renowned people to their social event• Industries: No necessary to target the company within relevant industry. Bank is willing to pay for the discount in community for all their credit card users
  35. 35. Business Hypothesis for Companies
  36. 36. Business Hypothesis for Designers
  37. 37. Day 2 Business Canvas for Jiae•Design School •Platform Management • Photo based nice and •1:1 Customer Support •Fashion Bloggers•Media •Customer Acquisition clean SNS platform •D-School Ambassador •Designers•Government •Expanding Reach • More Traffic•Web Partners • Find, organized and •Consumers•Companies/Brands share inspiration Ideas •Companies effectively (Designers) •Advertiser • Find jobs/projects (Designers) • Showcase Portfolios for Feedback •Platform •China Photo Related sites •Customer Base • Find Good Designers •China SNS Sites - weibo, •Brand (Companies) renren, qq, douban • Design Marketplaces (All Customers) •1300 Design Schools •Design Message Boards •Jiae.com Platform Costs Advertising Customer Acquisition Costs Design Marketplace Marketing and Sales Costs Free Interest Based SNS Platform
  38. 38. Day 3 Business Canvas for Jiae•Fashion Medias •Platform Management • Photo based nice and •1:1 Customer Support •Fashion Bloggers •Customer Acquisition clean SNS platform•Design School •D-School Ambassador •Designers •Expanding Reach • More Traffic•Government • Easy to Share •End Users•Design Associations • Statistics Tool Consumers•Online B2C Partners • Find, organized and Companies•Traffic Partners share inspiration Ideas • Advertising effectively • Sponsorship • Find jobs/projects • Design Services • Showcase portfolios for • Click Per Sales •Platform feedback, big Space •China Photo Related sites •Customer Base •China SNS Sites - weibo, •Brand • Target Ad Space renren, qq, douban • Find Good Designers •1300 Design Schools • Promotion Opportunity •Design Message Boards • Sales Channels • Design Marketplaces •Jiae.com Platform Costs Advertising, Sponsorships, Deign Services Customer Acquisition Costs Click Per Sales , Design Marketplace Marketing and Sales Costs Freemium Free Interest Based SNS Platform
  39. 39. Technology for medical and comfort problems of the feet Advanced Entrepreneurship Day 3 April 18, 2012 Team Brian Vogt Doug Carlson Mohamed Maimouni AG Crum 9 additional interviews Gabriel Giles Total interviewed: 41 end-users Sameer Kotak 3 brands
  40. 40. Day 2 Canvas TVM Tech Get, keep, grow? Activities? Customer’s problems? End-users: PR, Partners? Customer End-users: foot branded captivity Shoe mfg.s / Most important? input, IP sweat, hot, cold, fati Partners: branders by Men, dress & filings, beta gue. Convince of region business casual development, , su Partners: unique value for , development ppliers differentiation end-users Archetypes? Suppliers? (1) Sought med Customer needs? Component (2) UnSought med Comfort, medical / mfg.s, Ventiva (3) Tech „comfort‟ Profitability growth Reach segments? Getting? Resources? Product features? EstablishedTechnology, man Job to get done? Development Battery powered partner retailufacturing Giving? Enable comfort partner, seed shoe sole outlets (brick & Differentiation and productivity funding ventilation, cooling, mortar) and price heating, massage Making money & pricing model? Inherent in our model? $40 mfg‟ed, 80 soles, 200 shoes, 400 retail Variable material, mfg overhead 400 retail 250 retail
  41. 41. Day 3 Canvas TVM Tech Partners? Get, keep, grow? Shoe Activities? •Mitigate End-users: PR, mfg, manufacturi Customer hyperhidrosis branded captivity Active Seekers ng input, IP Partners: (1) Sought med •Low effort solution filings, beta Convince of Suppliers? development, , su unique value for Component ppliers end-users mfg.s, Ventiva •Foot comfort Passive •Discreteness Sufferers Getting? (2) UnSought med Technology, •Medical catalogs manufacturing Resources? •Referrals Giving? Development partner, seed •Cool factor ? Tech Lovers Differentiation and price funding •Foot comfort 3) Tech „comfort‟ Established partner retail outlets Making money & pricing model? Inherent in our model? $40 mfg‟ed, 80 soles, 200 shoes, 400 retail Variable material, mfg overhead 400 retail 250 retail
  42. 42. Market Size • Medical (sweat) – Hyperhidrosis, 1-3% impaired • General (sweat) – comfort, 10-30% problematic • $14B global … high-tier dress & business casual • 3% total-med SOM volume = 2M pairs, $500m (to be verified) • Additional tech luxury (to be quantified)
  43. 43. Market Segments/Size/Spend Active Passive Sufferers Seekers* ± Tech Lovers Ұ Active Treatment Size OOP Cost per treatment OTC/Topical ? $10 - $50/month Oral medications 20% ~50-100/month Botox 10% ~$300/3months Iontophoresis 5% ~200/3months Surgery 2% ~15K (questionable cure rates)*Includes anyone who actively seeks any aid (OTC/pharmacological/surgical) for problems with feet(hot, cold, sweaty etc) Includes all others who have some issue with feet (hot, cold, sweaty) but have yet to seek any aidҰ Includes those who are attracted to the “wow” factor of the technology and may buy in primarily forthat reason, while either being active or passive, or neither
  44. 44. What Have We Learned? Hypothesis Experiment Results Problem is recognized; they have a Interviews Pending workaround People may have Unclear. Additional discomfort but won’t Interviews experiments required admit it (survey). Appealing product for Interviews Confirmed. Eyes lit up. tech lovers
  45. 45. TVM Tech Ecosystem Dermatologists Podiatrists Shoe Component Pharmacies Manufacturers Active Seekers Medical Suppliers Shoe Manufacturers Retail Partners Passive Sufferers Tech Lovers Shoe Designers
  46. 46. Next Steps• Verify data & hypotheses • podiatrist, dermatologist, foot clinic, sweat-help orgs • channels, reimbursement, sizing, etc• Design new experiment to quantify ‘passive sufferers’• Meetings with channel partners (designers, manufacturers)• Define marketing campaign
  47. 47. Digital Exchange NetworkThe platform for exchanging high value services and information. 36 INTERVIEWS Dave Spezzano, Alexey Okhlopkov, Amy Villari, Steve Alperin, Dmitri Dyakin
  48. 48. HYPOTHESIS & RESULTS Hypothesis Result Comments NEED FOR EXCHANGE OF INCORRECT Many specialized INFORMATION outlets How to valueNEED FOR EXCHANGE OF FAVORS CORRECT favors ?NEED FOR DISTRIBUTING CONTENT MAYBE TO MARKET MY SERVICEAFFININTY GROUPS MATTER FOR Trust is highly CORRECT valued UPTAKE KARMA MATTERS IN THIS Goodwill is BUSINESS… CORRECT difficult to value
  49. 49. CANVAS 1.1 --People have trouble findingAlumni People who need expert, reliable, verigroups, Networki high quality Seeding the high fied information.ng groups, (build information andto suit..potential level Tap communities services and have community, Softwar --People spendwhite label already trouble finding it. e huge amounts ofsevice) transacting offline development, busin time displaying or chaotically Business builders, ess development, expertise with noOutsourced salesmen, anyone tangible benefitengineering who has everteams, looked for a --A marketplace toWe get paid to connection once match buyers andincrease bonds removed from sellersbetween their closest circle --Simple easy waymembers ,make --Velvet rope, --Reduce the to aggregatecrucial offline Goodwill, friction to finding postings about leaky door policyactivity more Brand, User info, help me get expertise --Affinity groupsefficient. Allow Propagation value from what I --Scoring/rankingmonetization of do for others and for reliability.expertise. what I know. ? Scalable marketplace business. MVPengineering/hosting/design costs are fixed. --Free to join and use– then transactionFeature set build are variable..build to spec fee, listing fee, fee for top tier circles for partners?
  50. 50. CANVAS 1.2 CHANGES IN REDAlumni groups, -- HELP PEOPLENetworking EXCHANGE --PEOPLE WHOgroups, (build to Seeding the high ACCESS & NEED ACCESS &suit..potential level FAVORS THAT Tap communities FAVORS FORwhite label community, Softwar ARE IMPORTANT. already BUSINESS ORsevice) e transacting offline PERSONAL USE development, busin --Help people get or chaoticallyOutsourced ess development, more benefit from --PEOPLE WHOengineering their digital PROMOTEteams, marketing content THEIRWe get paid to BUSINESSincrease bonds --A marketplace to THROUGHbetween match buyers and CONTENTmembers ,make sellers --Velvetcrucial offline --Goodwill, --HELP PEOPLE rope, leaky door --PEOPLE WHOactivity more --HIGH LEVEL BUILD TRUSTED policy WANT TOefficient. Allow ACCESS CONNECTIONS --Affinity groups STENGTHENmonetization of ? TIES WITHexpertise. CONNECTIONS Scalable marketplace business. MVP --POINT SYSTEM TO EXCHANGE VALUE &engineering/hosting/design costs are fixed. GOODWILLFeature set build are variable..build to spec --Free to join and use– then transaction for partners? fee, listing fee, fee for top tier circles
  51. 51. HYPOTHESIS to test next TRUST IS HUGLY IMPORTANT IT IS POSSIBLE TO EXPAND YOUR NETWORK WITHOUT LOSING TRUST People will be willing to pay others for favors People will be willing to accept cash payment for favorsPeople will want to trade favors for favors (quid pro quo) rather than buying/selling favors outrightFor reasons of good karma and goodwill, people will want to use another exchange currency other than cash
  52. 52. OTHER FINDINGS• --A few examples of extremely high willingness to pay for info (financial services, business school counseling
  53. 53. YSN: an online platform for connecting procurement consortiums with suppliers Interviews: Ravi Pingli 25 on Day 2 46 TotalArez Mardoukhi Kevin Woolley Gopi Sukhavasi
  54. 54. Business Model Canvas: Day 2Key Partners Key Activities Value Customer Customer• Purchasing • Software Propositions Relationships Segments associations marketing Buyers • Partnerships • Chain/• Marketing/ sales • Find the best with industry Corporate sales team possible trade shows Restaurants suppliers for • Professional • Chain/ procuring network Corporate goods and Hotels services. • Sales • One solution to Companies Key Resources manage end to Channels Distributing to • Software end source-to- • Professional Hotels and development pay process Network Companies team Suppliers • Purchasing • Marketing • Provide Associations resources platform to • Industry reach target conferences market customersCost Structure Revenue• Fixed: Software development/maintenance • Subscription fee will be charged per seat for each• Variable: Marketing/sales customer • The pricing will be higher for buyers than suppliers
  55. 55. Logic for reexamining value proposition• On Day 1, we asked managers of local and independent restaurants about challenges in dealing with suppliers• Result: they reported low to moderate problems• At the end of Day 1, we planned to pose a similar set of questions to managers of restaurant and hotel chains• At the end of Day 2, we decided to reformulate our value proposition and ask general managers and owners of local and independent restaurants and hotels a slightly different set of questions• Asking slightly different questions yielded much different results among the same restaurant segment
  56. 56. Business Model Canvas: Day 3Key Partners Key Activities Value Customer Customer• Hotel and • Develop Propositions Relationships Segments restaurant online Buyers • Regular • Local/ associations platform • Find best customer independent• Independent • Continuous suppliers for contact restaurants (no research buyer and procurement chains) services supplier consortiums • Local/ development • Facilitate independent transparency hotels (no and ease of chains) use • Food, tabletop, Key Resources Suppliers Channels and bed linen • Software • Increased • Outside suppliers development visibility to salesforce team potential • Marketing resources customersCost Structure Revenue• Fixed: Software development/maintenance • Annual subscription contract for both buyers and• Variable: Marketing/sales suppliers (~0.5% of consortium revenue) • Buyers/suppliers charged to submit/respond to proposals
  57. 57. Business HypothesesHypothesis 1 • Test 1 Result 1• Local/independent • Determine top three sources • Hypothesis accepted restaurants would of pain among restaurant realize cost savings by owners and managers participating in a procurement consortium • Rate level of pain in variable cost control on scale of 1 to 3Hypothesis 2 Test 1 Result 2• Local/independent • Determine top three sources • Hypothesis uncertain hotels would realize cost savings by of pain among restaurant owners and managers • Further test necessary participating in a procurement consortium • Rate level of pain in variable cost control on scale of 1 to 3
  58. 58. Findings• Almost all interviewees listed cost control among their top three concerns• Cost concerns were described as being a moderate to high (6.5/10) source of anxiety among target restaurant owners and general managers• Cost concerns were described as being a low to moderate (4.4/10) source of anxiety among target hotel owners and managers• Restaurant owners and managers were moderately to highly interested in procurement consortium platform, but frequently noted the complexities that would arise (e.g., shared storage, cost allocation, and delivery costs)• Procurement consortiums would have more of an effect in cutting out the middlemen than reducing distributor costsQuotes:• "Very interesting. Come back and see me so that we can discuss further"• “Glassware is misery for all restaurants”• "I think about cost all the time. You cant raise menu prices at the same rate as costs”• “This would be especially helpful for service contracts like coffee machines”
  59. 59. Interviews: 17 restaurants
  60. 60. Business Hypothesis Restaurants Hypothesis Test Results Yes, main issue has to doThere is a marketing with how to bring new Interviewsproblem customers without loosing money on the existing onesThey are not satisfied with No, are content withtheir current marketing Interviews opentable; good reputationefforts & location Not willing to do it as aThey could give discounts to discount but they could give Interviewsattract new customers free tokens (i.e. drink, entrée)They could be interested in No, either are big enough torunning their one marketing Interviews have a marketing guy orcampaign happy with opentable
  61. 61. Business Hypothesis Restaurants Hypothesis Test Results Not really, they can addressThey would be willing to it by going directly to thehelp generate a new rating Interviews customers, other relay onsite more restaurant friendly their clientele No, most don’t want toThey would be willing to pay open a new channela monthly fee for a Interviews Could be interested as longmarketing service as it is cheap and based on success
  62. 62. Mobile Marketing - Restaurants to reduce Restaurants want to Key Activities do sales fluctuations minimize the we require? - Restaurants to Get/keep/Grow dependency on Who are our Key Marketing engage customers Customers? discounters Partners? Campaign - Cheap and an - Low-cost platform Restaurant want to run Online templates, Software effective way of - Mkt Campaign local marketing advertisement development, relati reaching the campaign ( 2 mins review webpages Templates onship building customers breakfast , cheap bagel restaurants - Reaching local after 11am, …) Who are our key customer (location - Mid pricing level suppliers? based) restaurants in Telecoms, search - Increase customers neighborhood areas engines without affecting What are we existing sales getting from What Key - Filter incoming them? Giving Resources we “discount” info Which Channels? - People between 30- them? require? - Receive restaurant Online, app, loyalty 45 years Message delivery People, IT information programs - People in an services Quality infrastructure (data (price, quality) if you unknown area information center) are in an unknown place Fee per marketing campaign, monthly Important costs? Fixed? Variable? subscription fee Fee based on effectivenessSoftware (technology) development, (fixed) marketing/sales (variable) Free
  63. 63. Diagnose your healthfrom anywhere23 New (32 Total) Interviews Thomas Jonathan Melissa Nina Tim Vladimir Wednesday – Day 3
  64. 64. Interviews 14 12 10 8 6 Tuesday Monday 4 2 0 Industry Patient Provider Payer Mfg Expert 72
  65. 65. DIAGNOSLY - Yesterday Consumers • Convenience of time• Diagnostic and Families (primarily monitoring device and place Get customers: • Reduced cost for • Partnerships mothers) in the OEMs • R&D fertility• Lab-on-chip OEMs • Tech support uninsured or high • Online marketing• Health networks deductible plan Keep + Grow: testing, pregnancy, a • Partner sales & nd early childhood• Testing labs support subscribers • Quality service and• Clinical research • user experience phase • Customer support companies • Reduced cost and• Online health service increased quality of Device Makers providers software Makers of at-home monitors and Getting from them: • Lower costs due to diagnostic devices• Hardware to conduct reduced visits, less diagnostic tests fraud and• Access to customers Payment process consistent, comprehe • Online (direct) Payers nsive data • Industry experts • Physicians Insurance, Medicare, Giving them: • Engineers and • Improved patient • Hospitals Medicaid• A platform outcomes• designers • Clinics Mobile connectivity • Earn more money via Providers• Data mgmt • IP experts focus on higher value • Health General• Integration with online • Privacy experts procedures networks Practitioners, Midwiv health ecosystem • Lawyers es, Nurses • People (R&D) • Tech infrastructure • Testing fees (per test) • Customer acquisition • Monthly subscriptions (freemium model) 73
  66. 66. DIAGNOSLY - Today Automated, Optional Consumers • Convenience of time 24x7 Support • Provider and place Families (primarily subsequent mothers) in engagement • Reduced cost for Automated, Optional the fertility • Device mfg uninsured or high SDK Support testing, pregnancy, and deductible plan early childhood phase relationships subscribers • R&D Indirect, trusted Device Makers• Diagnostic and supplier • Customer • Reduced cost and Small to medium makers monitoring of at-home monitors and support increased quality of diagnostic devices device OEMs software Payers Insurance, Medicare, Med• Insurance • Lower costs due to icaid reduced visits, less Providers networks • Engineers and fraud and General consistent, comprehe Practitioners, Midwives, N• Independent designers nsive data • Online urses, Office sales reps • Legal/Regulator • Independent Manager, Specialists • Improved patient (Pediatricians, OB/GYNs y Knowledge sales reps , vets etc) (IP, FDA, HIPPA, outcomes • Earn more money via • Physicians / Livestock Managers Cattle ranchers, horse etc) focus on higher value Clinics farmers procedures Drug Developers Big Pharma, Biotechs • Testing fees (per test/kit) • People (R&D) • Customer acquisition • Regulatory & Liability 74
  67. 67. Diagnosly Ecosystem Patient Data Captured: • Raw data from blood, urine, saliva samples Medical Devices (OEMs) • Raw data from sensors • Symptom descriptions and pictures • Demographic data • Location • Health History Patients Payers DIAGNOSLY PLATFORM Laboratory Testing Services (3rd Party)Physicians Cloud & Data Services • Analysis of raw diagnostic data Phone, Tablet, and • Illness and disease detection Web Applications • DNA analysis • Risk assessmentResearchers Admin & Reporting Dashboard: • Monitoring and diagnostic history • Aggregated lab results Online Health Services (3rd Party) • Alerts and reminders • Electronic Health Records (EHR) • Advanced data analytics • Health Service Provider Network • Analysis of treatment efficacy • Billing and Insurance • Personalized health content and • Appointment scheduling service recommendations • Pharmacy • Virtual appointmentsCONFIDENTIAL 75
  68. 68. Interviews SAYING NEW INSIGHTS• “Every geek team has their own • Potential negative reaction from device proprietary app!” manufacturers regarding data sharing• “Lost a lot of time and money in this space and recall knowledge because we were too early” • Specialists and GPs seem amenable so• “Patients never do what they say they will long as does not negatively effect cash do” flow, physician time, patient care.• “We have important IP around our • GPs get paid to analyze patient data online data portal” DOING CONCLUSIONS• Competitors see value in the device • Appears that enough devices are agnostic portal/data system, etc. available to make pregnancy / pediatric• Insurance companies are willing to pay for viable but may not be easily digitized preventative monitoring for very specific and providers are concerned about chronic diseases parents administering them correctly• Ped mom keeps self-made kit at home • Opportunity exists for chronic disease• ER hospitals funding primary care clinics prevention testing and data collection in low income areas to reduce ER costs 76
  69. 69. Possible livestock/veterinary segment: overview Market research INSIGHTS• US pet Care market $29B and growing • Small farmers could benefit from self-• $4B annual spend on livestock health administered diagnostic tests• Globalization and international trade • Large ranchers might benefit more from driving improvements in veterinary automated remote health monitoring diagnostics and testing (e.g. • Pet owners willing to spend on beloved food, feed, and animals). pets, but lack confidence due to expertise Proposed solution SAYING • Small farmer: “I know my animals, I know if I need to call the vet, I don‟t need any gadgets” Diagnosly • Horse rancher: “I could spend anywhere Platform from $300 to $30K on a vet visit for my horse!” • “I wish I could know better if my dog is sick” 77
  70. 70. Possible Big Pharma/Biotech segment: overview Market research INSIGHTS• Cost of bringing new drug to market: $1.2B • Pharma doesnt want to develop these• Most drugs fail at late stage types of platforms themselves, want:• Need for automated substitutes for: • 3rd party validation • Human clinical trials • industry standardization • Animal testing • FDA buy-in • Academics more comfortable with prototype systems, less excited about automation Solution overview SAYING Drug • “Predicting toxicity is a trillion dollar app!” • “This could be hugely disruptive” • “Very few people can connect all these dots together” + • “I would only be interested in this data if Researchers the FDA will take it seriously” Automated human tissue studies 78
  71. 71. Tuesday Hypotheses HYPOTHESIS TEST RESULT1• Small device manufacturers • Mixed results, some will would be willing to use 3rd • Interviews but also some will not. party software, if it‟s free2• Small device companies will be more willing to • Interviews • Validated partner than larger ones3• Bill physician a fee as a % • Industry experts and of insurance / Medicare / Medicaid payments we • Interviews providers indicate so but not confirmed with payers facilitate 79
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