Team n   proloss
 

Team n proloss

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Team n   proloss Team n proloss Presentation Transcript

  • Total interviews: 45 Probiotic Weight Management SupplementDemi Ajayi Rahim Bamba Samer Choumar Mona Jaber
  • Here’s  what  we  thought…Day 1 Concept Patentable technology using genetically-enhanced probiotics (“good  bacteria”)   Genesis to aid in burning calories stored in fats in your diet 1 Probiotics are generally appealing to food & beverage manufacturers and the health conscious end user 2 We  are  on  to  something… • Currently no probiotic product exists under weight loss or weight management • Wide  array  of  probiotic  products  are  marketed  under  “aiding  healthy  digestion” 3 The initial idea was that we could generate revenue from royalty and licensing fees • Food & beverage manufacturing companies would be interested in partnering with us in order to access our proprietary technology • When and if we get our technology patented, we are off for an easy ride! 4 Since the product is being developed out of a low-budget launch pad, costs should not be a major roadblock 2
  • The  Business  Model  Canvas:  figuring  out  who  our  customers  are…  Day 1 • Dairy companies • Establish IP • “Good”  bacteria • Co-creation • Niche market Infrastructure • Research institutes • No chemicals • Personal assistance • Marketing • Animal research labs • Body probiotic • R&D booster • University research labs • Consulting • Calorie burner vs appetite suppressant • Patent • Licensing • R&D grants/funding • Sales force • Technical / scientific expertise • Marketing • R&D • Licensing fees • Consulting fees • IP procurement / patent • Employees • Share of profit margin 3
  • The Business Model Canvas: toward a multi-market  approach…  Day 2 • Dairy companies • Establish IP End user (B2C) End users (B2C) • Niche market Infrastructure • Cold beverages & • “Good”  bacteria • Personal assistance End users (B2C) drinks companies • Marketing • No chemicals • Educational outreach • Adults 25-50 yrs old • Research institutes • R&D • Body probiotic booster • Self-service • Middle class and up • Animal research labs • Consulting • Calorie burner vs F&B companies (B2B) • Health conscious & • University research appetite suppressant actively managing • Co-creation labs weight F&B companies (B2B) • Bio-tech research F&B companies (B2B) • Expanded product line institutes in untapped market • Cold beverages & drinks • Access to proprietary End users (B2C) • Patent technology • Dairy products • Direct sales • R&D grants / funding F&B companies (B2B) • Technical / scientific expertise • Licensing • Sales force • Marketing • Employees F&B companies (B2B) • Consulting fees • IP procurement / patent • Outsourcing /manufacturing • Licensing fees End users (B2C) costs • R&D • Royalty • Wholesale/retail 4
  • The  Business  Model  Canvas:  significant  additions…  Day 3 • Dairy companies • Establish IP End user (B2C) End users (B2C) • Niche market Infrastructure • Cold beverages & • “Good”  bacteria • Personal assistance End users (B2C) drinks companies • Marketing • No chemicals • Educational outreach • Adults 25-50 yrs old • Protein bars • R&D • Body probiotic booster • Self-service • Middle class and up companies • Consulting • Calorie burner vs F&B companies (B2B) • Health conscious & • Research institutes appetite suppressant actively managing • Co-creation • Animal research labs weight • Probiotics for weight • University research management as F&B companies (B2B) labs opposed  to  “aiding   • Cold beverages & digestion” • Bio-tech research drinks End users (B2C) institutes • Patent F&B companies (B2B) • Dairy products • Direct sales • Established clinical • R&D grants / funding • Expanded product line • Protein / energy bars test labs in untapped market F&B companies (B2B) • Technical / scientific • Refrigerated food • Recognized retailers expertise • Access to proprietary • Licensing (eg. GNC) technology • Sales force • Marketing • Employees F&B companies (B2B) End users (B2C) • IP procurement / patent • Outsourcing / manufacturing costs • Licensing / royalty fees • Wholesale / retail • R&D • Clinical / lab tests • Consulting fees 5
  • The  Business  Model  Canvas:  more  changes…  Day 4 • Dairy companies • Establish IP End user (B2C) End users (B2C) • Niche market Infrastructure • Cold beverages & • “Good”  bacteria • Personal assistance End users (B2C) drinks companies • Marketing • No chemicals • Educational outreach • Adults 25-50 yrs old • Protein bars • R&D • Body probiotic booster • Self-service • Middle class and up companies • Consulting F&B companies (B2B) • Calorie burner vs • Health conscious & • Research institutes • Establishing partner appetite suppressant • Co-creation actively managing • Animal research labs relationships weight • Probiotics for weight • White labeling • University research management as F&B companies (B2B) labs opposed  to  “aiding   • Cold beverages & digestion” • Bio-tech research drinks End users (B2C) institutes • Patent F&B companies (B2B) • Dairy products • Direct sales • Recognized retailers • R&D grants / funding • Expanded product line • Protein / energy bars (eg. GNC) in untapped market F&B companies (B2B) • Technical / scientific • Refrigerated food expertise • Access to proprietary • Licensing technology • Sales force • Marketing • Employees F&B companies (B2B) End users (B2C) • IP procurement / patent • Sales force • Licensing / royalty fees • Wholesale / retail • R&D • Outsourcing / manufacturing costs • Consulting fees 6
  • Here’s  what  we  learned…Days 1-4 1 Probiotics are indeed very popular at the moment • Probiotics are being consumed as dietary supplement capsules • The probiotic industry experienced double digit growth over the past few years 2 Inline with what we originally thought, there exists an opportunity to generate revenue from licensing and royalty fees • There are no relevant patents surrounding our designer probiotics technology (no known patents for keyword: "designer probiotics weight  loss“) • Several players in the F&B industry expressed interest in using our technology subject to meeting    rigorous  clinical  tests  from  established  labs,  however… 3 Contrary to what we initially thought, we were not off for an easy ride: costs are a major obstacle for a small-startup with limited resources operating in this space • Depending on intended use (drug vs dietary supplement), regulatory requirements differ greatly. For dietary supplements, premarketing demonstration of safety and efficacy and approval by the FDA are not required; only premarket notification is required • Product development and clinical trials are necessary stages before product makes it to our partners’  consideration  set  and  manufacturers  ask  that  we  meet  Global  Standards  for   Evaluation of Probiotics11. This includes the following tests: 1) Testing to ID strain of bacteria (~$100 outsourced), 2) Shelf-life stability ($2k-4k outsourced), 3) In vitro testing to delineate mechanismof probiotic affect, 4) Human trials 7
  • Evolution and devolution of a business modelDays 1-5Day 1 The  Business  Model  Canvas:  figuring  out  who  our  customers  are…   Day 1From a single 1 2 3 • Dairy companies • Establish IP • “Good”  bacteria • Co-creation • Niche market Infrastructure • Research institutes • No chemicals • Personal assistancemarket • Marketing Incorporate Secure License • Animal research labs • Body probiotic • R&D booster • University research labs • Consulting • Calorie burner vs appetite suppressantapproach… company patent technology • Patent • R&D grants/funding • Technical / scientific • Licensing • Sales force expertise • Marketing • R&D • Licensing fees • Consulting fees • IP procurement / patent • Employees • Share of profit margin 3Days 2-4 The Business Model Canvas: toward a multi-market  approach…   Day 2 • Dairy companies • Establish IP End user (B2C) End users (B2C) • Niche market Infrastructure • Cold beverages & • “Good”  bacteria • Personal assistance End users (B2C) drinks companies • Marketing • No chemicals • Educational outreach • Adults 25-50 yrs old • Research institutes • R&D • Body probiotic booster • Self-service • Middle class and up • Animal research labs • Consulting • Calorie burner vs F&B companies (B2B) • Health conscious & • University research appetite suppressant actively managing • Co-creation labs weight F&B companies (B2B) n • Bio-tech research F&B companies (B2B) • Expanded product line institutes in untapped market • Cold beverages & drinks • Access to proprietary End users (B2C) • Patent technology • Dairy products • Direct sales • R&D grants / funding 4 F&B companies (B2B) • Technical / scientific 1 2 3 expertise • Licensing Sales & Real estate The  Business  Model  Canvas:  more  changes…   Day 4 • Sales force Product • Marketing • Employees F&B companies (B2B) • Consulting fees costs • IP procurement / patent • Outsourcing /manufacturing • Licensing fees End users (B2C) costs Text • R&D • Royalty • Wholesale/retail • Dairy companies • Establish IP • Niche market marketing End user (B2C) End users (B2C) Infrastructure • Cold beverages & • “Good”  bacteria • Personal assistance 4 End users (B2C) development drinks companies • Marketing • No chemicals • Educational outreach • Adults 25-50 yrs old • Protein bars • R&D • Body probiotic booster • Self-service • Middle class and up companies • Consulting F&B companies (B2B) • Calorie burner vs • Health conscious & Incorporate • Research institutes • Establishing partner appetite suppressant • Co-creation actively managing • Animal research labs relationships weight • Probiotics for weight • White labeling • University research management as F&B companies (B2B) Secure patent Operating costs labs opposed  to  “aiding   • Cold beverages & digestion” • Bio-tech research drinks End users (B2C) institutes Manufacturing • Patent F&B companies (B2B) • Dairy products company • Direct sales • Recognized retailers • R&D grants / funding • Expanded product line • Protein / energy bars (eg. GNC) in untapped market F&B companies (B2B) • Technical / scientific • Refrigerated food expertise • Access to proprietary • Licensing License technology The  Business  Model  Canvas:  significant  additions…   • Sales force Day 3 • Marketing • Employees F&B companies (B2B) End users (B2C) technology Distribution Management • IP procurement / patent • R&D • Sales force • Outsourcing / manufacturing costs • Dairy companies • Cold beverages & drinks companies • Establish IP Infrastructure • Marketing • Licensing / royalty fees • Consulting fees End user (B2C) • “Good”  bacteria • No chemicals • Wholesale / retail End users (B2C) • Personal assistance 6 • Educational outreach • Niche market End users (B2C) • Adults 25-50 yrs old overhead • Protein bars • R&D • Body probiotic booster • Self-service • Middle class and up companies • Consulting • Calorie burner vs F&B companies (B2B) • Health conscious & • Research institutes appetite suppressant actively managing • Co-creation • Animal research labs weight • Probiotics for weight • University research management as F&B companies (B2B) labs opposed  to  “aiding   • Cold beverages & digestion”…  to  a  multi- • Bio-tech research drinks End users (B2C) institutes • Patent F&B companies (B2B) • Dairy products • Direct sales • Established clinical • R&D grants / funding • Expanded product line • Protein / energy bars test labs in untapped market F&B companies (B2B) • Technical / scientific • Refrigerated food • Recognized retailers expertise • Access to proprietary • Licensing (eg. GNC) technology • Sales forcemarket approach • Marketing • IP procurement / patent • Employees • Outsourcing / manufacturing costs F&B companies (B2B) • Licensing / royalty fees End users (B2C) • Wholesale / retail • R&D • Clinical / lab tests • Consulting fees 5Day 5 The  Business  Model  Canvas:  Here’s  were  we  ended  (back  to  square  one?)…  And back to a 1 2 3 4 Day 5 • Dairy companies • Establish IP F&B companies (B2B) End users (B2C) • Niche marketsingle market Incorporate Secure Establish lab License Infrastructure • Cold beverages & • Expanded product line • Personal assistance End users (B2C) drinks companies • Marketing in untapped market • Educational outreach • Adults 25-50 yrs old • Protein bars companies • R&D • Access to proprietary • Self-service • Middle class and up technology • Research institutes • Consulting F&B companies (B2B) • Health conscious & • Calorie burner as • Animal research labs • Establishing partner • Co-creation actively managing opposed to existing relationships weightapproach. • University research labs appetite suppressant / • White labeling • Bio-tech research digestive aid F&B companies (B2B) company patent tests technology institutes • MVP: Patented • Beverages & drinks • Recognized retailers • Patent Probiotic meeting • Dairy products End users (B2C) (eg. GNC) Manufacture • R&D grants / funding • Direct sales • Protein / energy bars Requirements • Established clinical test • Technical / scientific • Refrigerated food labs expertise F&B companies (B2B) • Customer Archetype: • GenSpace • Licensing • Univeristies/Research Manufacturers with Collaborator: BioFortis • Steve Blank! • Sales force probiotics products • Sales & Marketing • Employees F&B companies (B2B) End users (B2C) • IP procurement / patent • Outsourcing / manufacturing costs • Licensing / royalty fees • Wholesale / retail • R&D • Clinical test labs costs • Consulting fees 9 8
  • The  Business  Model  Canvas:  Here’s  were  we  ended  (back  to  square  one?)…  Day 5 • Dairy companies • Establish IP F&B companies (B2B) End users (B2C) • Niche market Infrastructure • Cold beverages & • Expanded product line • Personal assistance End users (B2C) drinks companies • Marketing in untapped market • Educational outreach • Adults 25-50 yrs old • Protein bars companies • R&D • Access to proprietary • Self-service • Middle class and up technology • Research institutes • Consulting F&B companies (B2B) • Health conscious & • Calorie burner as • Animal research labs • Establishing partner • Co-creation actively managing opposed to existing relationships weight • University research labs appetite suppressant / • White labeling • Bio-tech research digestive aid F&B companies (B2B) institutes • MVP: Patented • Beverages & drinks • Recognized retailers • Patent Probiotic meeting • Dairy products End users (B2C) (eg. GNC) Manufacture • R&D grants / funding • Direct sales • Protein / energy bars Requirements • Established clinical test • Technical / scientific • Refrigerated food labs expertise F&B companies (B2B) • Customer Archetype: • GenSpace • Licensing • Univeristies/Research Manufacturers with Collaborator: BioFortis • Steve Blank! • Sales force probiotics products • Sales & Marketing • Employees F&B companies (B2B) End users (B2C) • IP procurement / patent • Outsourcing / manufacturing costs • Licensing / royalty fees • Wholesale / retail • R&D • Clinical test labs costs • Consulting fees 9
  • Here’s  what  we  are  going  to  do  next…Days 6 onward 1 Continue with technology development and establishing IP infrastructure • This will require seed financing ~$50K • Hence a subset of this activity will involve raising capital for legal fees etc 2 Establish relationships with key strategic customers • Identify and establish contacts with partners of interest • Gauge interest for technology and seek continued input on process and product enhancement 3 Seek recognition in thought leadership space (health magazines, medicine journals, tec) • This has been cited as one critical success driver for bumping up royalty and licensing fees • The  more  a  particular  brand  is  recognized,  the  more  royalty  $’s  it  can  charge  it  licensed  partners   (from as low as 1-4% to as high as 10%) 4 Continue with hypothesis testing • Seek more interviews with industry experts (arranging these require significant lead time) • Continue with market research activities to better understand the end users, their needs, and their preferences 10