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LighTip NSF FInal Presentation
LighTip NSF FInal Presentation
LighTip NSF FInal Presentation
LighTip NSF FInal Presentation
LighTip NSF FInal Presentation
LighTip NSF FInal Presentation
LighTip NSF FInal Presentation
LighTip NSF FInal Presentation
LighTip NSF FInal Presentation
LighTip NSF FInal Presentation
LighTip NSF FInal Presentation
LighTip NSF FInal Presentation
LighTip NSF FInal Presentation
LighTip NSF FInal Presentation
LighTip NSF FInal Presentation
LighTip NSF FInal Presentation
LighTip NSF FInal Presentation
LighTip NSF FInal Presentation
LighTip NSF FInal Presentation
LighTip NSF FInal Presentation
LighTip NSF FInal Presentation
LighTip NSF FInal Presentation
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LighTip NSF FInal Presentation

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  • 1. ™The shape of light to come…
  • 2. ™ Total contacts since 3/20: 106 • WHERE WE STARTED: A custom optics design and manufacturing company specializing in creating directional light devices to support the photo-medical market. opportunity $10M • NOW: We are an optics design company centered on light shaping, nonimaging applications and freeform optical components and subsystems. $500M opportunity5/23/2012 2
  • 3. ™ Good lighting often requires more sophisticated designs Bad lighting Good lighting P. R. Boyce – LRI – Rensselaer Polytechnic InstituteConventional symmetric floodlighting Asymmetric floodlighting 3
  • 4. ™ Market Size Total Addressable Market --Worldwide $50 Billion Annually Served Available $25B - lighting Market Target $25B - medical optical systems $15 Billion Market $0.5 B Based on Photonics 21 “Leverage Effect” Final Report March 2011 Primarily European and Page 26 N & S American markets5/23/2012 4
  • 5. ™ Team Members Jannick Rolland Cristina Canavesi Mike Riedlinger (PI) (EL) (Mentor) Chair Professor PhD candidate Technology entrepreneur of Optics and in Optics Director of Rochester Biomedical Bioventure Center Engineering5/23/2012 5
  • 6. ™ 3/20 Canvas v1.0 KEY ACTIVITIES KEY PARTNERS VALUE CUSTOMER CUSTOMER PROPOSITIONS RELATIONSHIPS SEGMENTS Doctors: More effective Individual doctors Laser Engineering treatment; easy Dermatology: procedure Dermatology Pre-cancer manufacturer Manufacturing office Cancer Regulatory Cosmetic Patients: Hospital IP Here’s what we did… More effective treatment; minimum discomfort; excellent Drug First key interviewsoutcome cosmetic at Stanford and in San KEY RESOURCES Oral cancer companies Francisco; more lessons learned during the CHANNELS Hospital/Office: following weeks… New treatment Injection options; increased molding profitability OEM Veterinary Doctors ? OEM: distributor – early Reliable partner that adopters Engineering/ sustains engineering issues development throughout product life-cycle COST STRUCTURE REVENUE STREAMS Injection Engineering/ molding Source sale? Disposable development OEM with high distributor Training?5/23/2012 margin www.businessmodelgeneration.com
  • 7. ™ Here’s what we found • Photodynamic therapy (PDT) is still in the early stages for cancer treatment. • There are other customer segments that make a much larger market in which custom illumination solutions are needed. • … so we pivoted.5/23/2012 7
  • 8. ™ 4/11 Canvas v2.0 KEY ACTIVITIES KEY PARTNERS VALUE CUSTOMER CUSTOMER PROPOSITIONS RELATIONSHIPS SEGMENTSOptical Development of Rapid design of “reference kits” based Highly consultativematerials prototype medical on proprietary and “co-creative” Medical Deviceproviders devices that need LighTip™ technology using reference kits OEMs with advanced illumination for LighTip™Specialty Problem solving and technology requirements proprietary products for advancedinjection design to meetmolders for customer specified Reduced time-to- opticaloptic needs market for new optical componentscomponents KEY RESOURCES products via “Design for manufacturing” CHANNELS Optical systemSpecialist Advanced and “reference kit” firms that lackmachine shops optics design, approach advanced opticalfor rapid simulation, and Alliances with design capabilityprototyping of engineering Design risk reduction medical deviceoptics software and for optical systems integrators computers firms that need & Direct for opticalPrecision optical advanced illumination systems firmsmanufacturers Trained optics system components engineers COST STRUCTURE REVENUE STREAMS Labor costs (trained optical design Design engineering fees engineers) Reference design “kits” Computers, software, other equipment Component and subsystem unit sales Prototyping and production costs Royalties from manufactures (in some cases)5/23/2012 www.businessmodelgeneration.com
  • 9. ™ 4/11 Canvas v2.0 KEY ACTIVITIES KEY PARTNERS VALUE CUSTOMER CUSTOMER PROPOSITIONS RELATIONSHIPS SEGMENTSOptical Development of Rapid design of “reference kits” based Highly consultativematerials prototype medical on proprietary and “co-creative” Medical Deviceproviders devices that need LighTip™ technology Key Partners & Revenue Streams advanced illumination using reference kits for LighTip™ OEMs withSpecialty technology requirements Customer Segments &injection Problem solving and design to meet Hypothesis: Manufacturers are proprietary products for advancedmolders for Reduced time-to- provide royalties if LighTip™ willing to optical Value Prop Hypothesis:optic customer specified needs market for new optical componentscomponents products via “Design customers. brings them Our customers lack RESOURCES KEY for manufacturing” Optical system expertise in illumination Specialist Advanced Key Partners & Revenue Streams lack and “reference kit” CHANNELS firms that machine shops design. We provide and for rapid optics design, simulation, Test: Talked to potential partners capability approach Alliances with design in advanced optical prototyping of innovation and rapid optics engineering optical manufacturing. Design risk reduction medical device software and for optical systems integrators problem solving. Precision optical computers firms that need & Direct for optical advanced illumination systems firms manufacturers Segments & Customer Trained optics system components engineers Value Prop Test: Talked to potential costs STRUCTUREoptical design Labor customers COST (trained REVENUE STREAMS Design engineering fees in medical and engineers) lighting Reference design “kits” Computers, software, other equipment Component and subsystem unit sales industry.5/23/2012 Prototyping and production costs Royalties from manufactures (in some cases) www.businessmodelgeneration.com
  • 10. ™ Final Canvas KEY ACTIVITIES KEY PARTNERS VALUE CUSTOMER CUSTOMER PROPOSITIONS RELATIONSHIPS SEGMENTSOptical Rapid design of Problem solving andmaterials prototype and design to meetproviders reduced time to Firms that lack customer specified market for innovative advancedSpecialty needs devices that need illumination/injection Development of a advanced illumination optical designmolders for catalog of products technology via co- capabilityoptic creative designcomponents •LED based KEY RESOURCES Cost reduction with fixturesSpecialist redesign of existing CHANNELS integrators formachine shops Advanced optics products lightingfor rapid design, & •Medical deviceprototyping of engineering software Design risk reduction Alliances with for optical systems developersoptics & computers medical device firms that need •Sustainable integratorsPrecision optical Trained optical and advanced illumination energy & Direct for opticalmanufacturers mechanical system components architects systems firms engineers; industrialLight source designers;manufacturers manufacturing engineers COST STRUCTURE REVENUE STREAMS Labor costs (trained engineers) Design engineering contracts Computers, software, other equipment Component and subsystem unit sales Prototyping and production costs Commission from manufactures5/23/2012 www.businessmodelgeneration.com
  • 11. ™ Customer Archetype • CTO for an LED lighting company • Electrical engineering background O • Focused on thermal management and CT electrical components of the LED fixture • Little or no background in optics • Needs to design optics for a new product • Expects us to interact with manufacturers Jonathan, CTO Roger, CTO Ephesus Technologies Energy Focus5/23/2012 11
  • 12. ™ Customer Workflow O CT Phase I: Phase II: Phase III: Phase IV: Design Prototyping Manufacturing Final Product 6-8 weeks 3-4 weeks 8-12 weeks 3-4 weeks5/23/2012 12
  • 13. Revenue Model & Payment ™ Flows Customer: LED company LighTip™ Engineering contract ($150-300/hour) Light source Advanced Quantity purchase of Illumination components for prototype Engineering Reflector & mass production . Desired target Key Partner: Our deliverable Prototype & High Optical Manufacturer Volume Production Customer’s final product (0.25%-8% commission)5/23/2012 13
  • 14. ™ Competitive Players Off-the-Shelf Custom Engineering Specialty Optics Component Firms Firms/Contractors Integrators5/23/2012 14
  • 15. ™ 3/20 Canvas KEY ACTIVITIES KEY PARTNERS VALUE CUSTOMER CUSTOMER PROPOSITIONS RELATIONSHIPS SEGMENTS Doctors: More effective Laser Engineering treatment; easy Individual doctors Dermatology: manufacturer Manufacturing procedure Dermatology office Pre-cancer Cancer Regulatory Hospital Patients: Cosmetic IP More effective treatment; minimum discomfort; excellent Drug cosmetic outcome KEY RESOURCES Oral cancer companies Hospital/Office: CHANNELS New treatment Injection options; increased molding profitability OEM Veterinary Doctors ? OEM: distributor – early Reliable partner that sustains adopters Engineering/ engineering issues development throughout product life-cycle COST STRUCTURE REVENUE STREAMS Injection Engineering/ molding Source sale? Disposable development OEM with high distributor Training?3/20/2012 margin www.businessmodelgeneration.com
  • 16. ™ 3/22 Canvas KEY ACTIVITIES KEY PARTNERS VALUE CUSTOMER CUSTOMER PROPOSITIONS RELATIONSHIPS SEGMENTS For Doctors: Engineering As or More effective, Individual doctors Laser faster, and specific Dermatology office Dermatology Manufacturing treatment; easy Hospital Practice manufacturer Regulatory procedure Pre-cancer IP For Patients: Cancer Cosmetic As or more effective treatment; less Drug discomfort; excellent Dentist Offices KEY RESOURCES cosmetic outcome companies CHANNELS Veterinary For Practice Injection Hospital/Office: molding New treatment UV Curing options; increased OEM profitability Doctors ? – distributor early For OEM: adopters Engineering/ Reliable partner that Oral Cancer sustains engineering development issues throughout Practice product life-cycle COST STRUCTURE REVENUE STREAMS Tip + Source sale? Injection OEM Disposable Tip + Diagnostics device? molding distributor with high Training?3/22/2012 margin www.businessmodelgeneration.com
  • 17. ™ 3/28 Canvas KEY ACTIVITIES KEY PARTNERS VALUE CUSTOMER CUSTOMER PROPOSITIONS RELATIONSHIPS SEGMENTS For Doctors: Engineering As or more effective, Individual doctors Laser faster, and specific Dermatology office Dermatology Manufacturing treatment; for Hospital Practice manufacturer Regulatory deeper lesions Pre-cancer IP For Patients: Cancer As or more effective Cosmetic treatment; for deeper Drug lesions; less Dentist Offices KEY RESOURCES discomfort; excellent companies cosmetic outcome CHANNELS Veterinary For Practice Injection Hospital/Office: molding New complete UV Curing treatment options; OEM increased profitability Doctors ? – distributor early For OEM: adopters Engineering/ Reliable partner that Drug company sustains engineering development issues throughout distributor product life-cycle COST STRUCTURE REVENUE STREAMS OEM Tip + Source sale? Injection distributor Disposable Tip + Diagnostics device? molding Drug company with high Training?3/28/2012 distributor margin www.businessmodelgeneration.com
  • 18. ™ 4/4 Canvas KEY ACTIVITIES KEY PARTNERS VALUE CUSTOMER CUSTOMER PROPOSITIONS RELATIONSHIPS SEGMENTS For Doctors: Illumination design As or more effective, Individual doctors Laser faster, and specific Dermatology Engineering treatment; for Dermatology office Practice manufacturer Manufacturing deeper lesions Hospital Pre-cancer Regulatory For Patients: Cancer Cosmetic IP As or more effective treatment; for deeper Marketing lesions; less CUSTOMER Drug KEY RESOURCES discomfort; excellent DISCOVERY companies cosmetic outcome CHANNELS (non medical) For Hospital/Office: Solar collection Injection New complete OEM molding treatment options for distributor Doctors ? – cancer; increased Bioreactors profitability early adopters Engineering/ Drug company Night lamp development distributor direct sales Jewelry/art COST STRUCTURE REVENUE STREAMS Injection OEM Drug company Disposable Tip + Source sale? molding distributor distributor with high Tip + Diagnostics device? direct sales margin Training?4/4/2012 www.businessmodelgeneration.com
  • 19. ™ 4/11 Canvas KEY ACTIVITIES KEY PARTNERS VALUE CUSTOMER CUSTOMER PROPOSITIONS RELATIONSHIPS SEGMENTSOptical Development of Rapid design of “reference kits” based Highly consultativematerials prototype medical on proprietary and “co-creative” Medical Deviceproviders devices that need LighTip™ technology using reference kits OEMs with advanced illumination for LighTip™Specialty Problem solving and technology requirements proprietary products for advancedinjection design to meetmolders for customer specified Reduced time-to- opticaloptic needs market for new optical componentscomponents KEY RESOURCES products via “Design for manufacturing” CHANNELS Optical systemSpecialist Advanced and “reference kit” firms that lackmachine shops optics design, approach advanced opticalfor rapid simulation, and Alliances with design capabilityprototyping of engineering Design risk reduction medical deviceoptics software and for optical systems integrators computers firms that need & Direct for opticalPrecision optical advanced illumination systems firmsmanufacturers Trained optics system components engineers COST STRUCTURE REVENUE STREAMS Labor costs (trained optical design Design engineering fees engineers) Reference design “kits” Computers, software, other equipment Component and subsystem unit sales Prototyping and production costs4/11/2012 Royalties from manufactures (in some cases) www.businessmodelgeneration.com
  • 20. ™ 4/18 Canvas KEY ACTIVITIES KEY PARTNERS VALUE CUSTOMER CUSTOMER PROPOSITIONS RELATIONSHIPS SEGMENTSOptical Development of Rapid design of “reference kits” based prototype and Highly consultativematerials on proprietary reduced time to and “co-creative”providers LighTip™ technology market for innovative using reference kitsSpecialty medical devices that for LighTip™injection Problem solving and proprietary products need advancedmolders for design to meet illuminationoptic customer specified technology viacomponents needs “reference kit” KEY RESOURCESSpecialist approach and co- CHANNELSmachine shops Advanced creative designfor rapid optics design, Cost reduction withprototyping of simulation, and redesign of existing Alliances withoptics engineering products medical device software and integratorsPrecision optical computers Design risk reduction & Direct for opticalmanufacturers for optical systems systems firms Trained optical and firms that needLight source mechanical advanced illuminationmanufacturers engineers, system components industrial designers COST STRUCTURE REVENUE STREAMS Labor costs (trained optical design Design engineering fees engineers) Reference design “kits” Computers, software, other equipment Component and subsystem unit sales4/18/2012 Prototyping and production costs Royalties from manufactures www.businessmodelgeneration.com
  • 21. ™ 4/25 Canvas KEY ACTIVITIES KEY PARTNERS VALUE CUSTOMER CUSTOMER PROPOSITIONS RELATIONSHIPS SEGMENTSOpticalmaterialsproviders Medical Device OEMs andSpecialty suppliers withinjection requirementsmolders for for advancedoptic opticalcomponents components KEY RESOURCESSpecialist CHANNELS Firms that lackmachine shops Advanced optics advancedfor rapid design, & illumination/prototyping of engineering software Alliances with optical designoptics & computers medical device capability integratorsPrecision optical Trained optical and & Direct for opticalmanufacturers mechanical systems firms engineers; industrialLight source designers;manufacturers manufacturing engineers COST STRUCTURE REVENUE STREAMS4/25/2012 www.businessmodelgeneration.com
  • 22. ™ Final Canvas KEY ACTIVITIES KEY PARTNERS VALUE CUSTOMER CUSTOMER PROPOSITIONS RELATIONSHIPS SEGMENTSOptical Rapid design of Problem solving andmaterials prototype and design to meetproviders reduced time to Firms that lack customer specified market for innovative advancedSpecialty needs devices that need illumination/injection Development of a advanced illumination optical designmolders for catalog of products technology via co- capabilityoptic creative designcomponents •LED based KEY RESOURCES Cost reduction with fixturesSpecialist redesign of existing CHANNELS integrators formachine shops Advanced optics products lightingfor rapid design, & •Medical deviceprototyping of engineering software Design risk reduction Alliances with for optical systems developersoptics & computers medical device firms that need •Sustainable integratorsPrecision optical Trained optical and advanced illumination energy & Direct for opticalmanufacturers mechanical system components architects systems firms engineers; industrialLight source designers;manufacturers manufacturing engineers COST STRUCTURE REVENUE STREAMS Labor costs (trained engineers) Design engineering contracts Computers, software, other equipment Component and subsystem unit sales Prototyping and production costs Commission from manufactures5/23/2012 www.businessmodelgeneration.com

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