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Altiste pitch slide deck

Altiste pitch slide deck

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  • 1. Altiste Ltd Reduce absences from work in less than 30 minutes
  • 2. Background
    • Humans are exposed to several physical factors while working
      • Vibration, noise, radiation, dust, climate and chemicals
    • Most factors are harmful if exposure is too long or strong
      • Especially exposure to several factors simultaneously is considered a high risk to health issues
    • The factors cause more work absences today than 10 years ago (a Finnish study*)
    • 3. Employers are required by law to evaluate, assess and minimize risks related to the factors
    • 4. *https://www.etera.fi/SiteCollectionDocuments/Julkaisut/Tutkimusjulkaisut/Etera_3T_2009_teksti_3-138_lores.pdf
  • 5. Problem
    • At least one work day is lost for every worker annually because of the factors
      • Each lost work day costs over 500 Euros to employer
      • 6. Company with 250 employees looses over 125000 euros
    • Managing risks from different factors require knowledge and resources most employers don't have
    • 7. Risk assessment should be conducted at regular intervals
    • 8. Current solution is to use consultancy services which are expensive (1500 to 5000 euros) and require additional resources from the employers
  • 9. Solution
    • A web service, which provides a risk assessment of the factors in less than 30 minutes based on simple and visual questions about the employer's work environment
      • The basic service provides the minimum evaluation that is required by the law
      • 10. The full service provides a risk assessment for each factor and an action plan for reducing the risks and absences from work
      • 11. Additional services provide consultancy and data storage for employers
  • 12. How it works
    • The user selects images which corresponds to his work environment
    • 13. Web service then determines which factors are risks in the environment
    • 14. The user answers 10 to 15 questions for each factor
    • 15. Web service uses the answers and data from the database to assess risks and produces a visual report
    • 16. The employer can use the report to reduce the factors
  • 17. Innovation The service combines the vast information on the literature and the knowledge of the experts to a simple and visual user interface that anyone can use.
  • 18. Benefits
    • The user does not need to know about the legislation, standards, the factors or the risk assessment procedure
    • 19. The full risk assessment takes less than 30 minutes
    • 20. The results can be used to reduce work absences
    • 21. Employers comply with the law
    • 22. Minimizing factors reduces also wear and tear of the tools
    • 23. Employers do not need to use expensive consultancy services
    • 24. Employers focus the actions to most important risks
    • 25. Proper risk assessment improves company image
  • 26. Market trends
    • Workers are getting older and fewer in western countries
    • 27. Legislation is getting stricter
    • 28. Demand for self-service tools is increasing, because of need to reduce healthcare costs
    • 29. Proactive healthcare is increasing
    • 30. eHealth services are one of the six key market areas in EU strategy - experts have predicted an explosive growth on eHealth services in next few years*
    • 31. *http://www.euractiv.com/en/health/ehealth/article-117474
  • 32. Market size
    • European Union includes 27 member countries which all have uniform laws for occupational safety and health
    • 33. In total over 19 million companies have to comply to these laws, from which 99.6 % of these are small and medium enterprises (SMEs)
    • 34. 51 % of the companies are in an industry area where at least one factor is considered a high risk
    • 35. In northern Finland less than 1 % of the companies have conducted the required risk assessment for all factors
    • 36. In UK alone over 60 billion Euros were lost because work absences related to the factors*
    • 37. *Health and safety statistics 2008/2009, HSE, UK
  • 38. Competition
    • Local consultancy services
      • More expensive; requires time and resources from the employer; only few experts available locally
    • Web sites with free information
      • Free, but require resources and time to understand the risk assessment literature; have only general information
    • Risk assessment software and web services
      • Available only in few countries (e.g. Holland); require knowledge of the factors; do not have reference data
    • Measurement equipment
      • Require knowledge and resources for using them; needs additional tools for conducting the risk assessment
  • 39. Competition Cost of service/product General Detailed Relevance of the information to customer Expensive Free
  • 40. Competetive advantage
    • The service provides the fastest and most resource-free way for an employer to conduct a risk assessment
    • 41. The service is completely scalable as no experts are involded in the risk assessment process
    • 42. The service provides practical suggestions as it uses references from similar work environments
    • 43. The algorithms can be protected and require long experience to develop
    • 44. The team includes seasonal experts, which have long practical experience in consultancy, research and standardization in work health areas
  • 45. Product roadmap
    • Current web version includes a full risk assessment for whole-body vibration exposure
    • 46. First full version of Altiste web service includes risk assessment for the following factors: vibration, noise, dust, radiation, climate (temperature and humidity) and chemicals
    • 47. Next version includes also ergonomical issues and database storage for employers to save their assessment data
  • 48. Business model
    • To sell the web service to SMEs in European Union through healthcare service providers
      • Fixed price for using the service
    • To sell the web service to machine and tool manufacturers bundled to their product
    • 49. To license the web service method to large organizations
    • 50. To sell an advertisement space to local consultants
  • 51. Primary customers
    • CEOs of micro enterprises (less than 10 workers) – 18.04 million companies in EU
      • Basic service package (200 Euros)
    • CEOs of small enterprises (less than 50 workers) – 1.35 million
      • Full service package (500 Euros)
    • Chiefs of safety issues of medium enterprises (less than 250 workers) – 0.21 million
      • Full service package (500 Euros)
      • 52. Additional consultancy for supervising the actions
  • 53. Other customers
    • Trade and professional unions
      • Customized web service package for the members
    • Consultants
      • For selling the web and consultancy services to employers
    • Machine and tool manufacturers
      • Web service bundled with the product
  • 54. Return of Investment micro/small size employer
    • Companies having small number of employees are dependent on every worker
    • 55. Small companies have little or no resources to evaluate risks by themselves
    • 56. In average 2 to 5 % decrease of absences is achieved with simple actions
      • For companies having 50 employers, this means 5 days less absences annually (minimum outcome)
      • 57. -> return of investment is five times
    • The service has paid back if one work day is saved
  • 58. Return of Investment medium size employer
    • Larger companies have in average more lost work days per worker than smaller companies
      • For companies having 250 employers over 25 work days can be saved with preventive actions
      • 59. -> return of investment is over 25 times
    • The service has paid back if one work day is saved
  • 60. Return of Investment large size employer
    • Large companies can save millions of euros for identifying and reducing risks
      • AstraZeneca saved over 800 000 pounds annually by improving the working environment*
      • 61. British Gas Services had return of investment over 31 times by focusing on back pain cases*
      • 62. First ScotRail saves over 3 million pounds annually*
    • Each case company reported significant increase in worker motivation and happiness*
    • 63. *Health people=Healthy Profits, Business action on health
  • 64. Sales strategy
    • The service is offered through healthcare service providers, which require that the employer conducts a risk assessment
    • 65. All enterprises in European Union have to be a customer of a healthcare service provider
    • 66. The service is also advertised to national health and safety ministries and authorities for having references
    • 67. First focus is on the countries, which are active in work health issues: Finland, Sweden, UK, Germany and France
  • 68. Business environment
  • 69. Turnover potential
    • The alpha version of the service has been presented to 3 Finnish healthcare providers: MedOne, Suomen Terveystalo and Pohjois-Suomen Työterveys ry
      • Each provider has been interested in offering the service to their clients
    • The web service has been presented to seven major finnish employers: State Treasurery, Finavia, Finnish border control, The Finnish Defence Forces, Rauma Stevedoring, Kemi Shipping and Kesko logistics
      • Each have indicated interested in ordering the service
  • 70. Turnover potential
    • In Finland there are about 300 000 SMEs, from which over 100 000 have employees
    • 71. Over 10 000 new companies are founded each year
    • 72. Through the biggest healthcare companies over 50 % of these companies are reached and 99 % have not conducted the required risk assessment
    • 73. In UK the same numbers are 8 times bigger
  • 74. Turnover potential (k€)
  • 75. Customer references
    • The service has made over 200 k€ turnover in Finland (2007-2008) using an alpha version of the web service serving only vibration related risk assessments
    • 76. Current team has provided consultancy and piloted Altiste web service (vibration) with the following companies
      • Finnish State Treasurery
      • 77. Finnish border control
      • 78. Finavia
      • 79. Several private companies, like mining plants and machine manufacturers
  • 80. History behind Altiste
    • Reseach and development conducted in VTT since 2001
    • 81. Vibsolas Ltd founded in 2006 from VTT
    • 82. Consultancy services for vibration exposure measurements and risk assessment
    • 83. Developed the first measurement device for long term vibration exposure monitoring – currently over 50 devices are used around the world
    • 84. Developed Altiste.fi web service demo for vibration exposure with Finnish State Treasurery
    • 85. In 2010 Vibsolas Ltd founded Altiste Ltd to focus on Altiste web service
  • 86. Present status
    • Vibsolas Ltd has transferred IPR of Altiste web service and all other services related to work health to Altiste Ltd, including:
      • Web site domain and code, client list, algorithms and reference data for vibration assessment, report templates
    • Altiste Ltd is owned by Ykä Marjanen and Vibsolas Ltd
    • 87. Altiste Ltd seeks funding to finish the Altiste web service and sell it to customers
  • 88. Altiste team
    • CEO, Ykä Marjanen, Msc (eng), PhD (human sciences)
      • Over 10 year experience in work health assessment research and development of measurement techniques
      • 89. Has been involved in EU standardization work
    • Scientific advisory board (not a complete list)
      • MSc Ilkka Kyttälä, Ministry of Social Affairs/Health, FI
      • 90. Dr Jukka Starck, Finnish Work Health Institute, FI
      • 91. Dr Neil Mansfield, Loughborough University, UK
      • 92. Dr Carel Ostendorf, Sound and vibration, Holland
  • 93. Altiste team
    • Board
      • Names to be verified in a separate document
    • Industry Advisory board
      • Includes several experienced satefy officers from Finnish and UK companies
      • 94. Names to be verified in a separate document
  • 95. Finance
    • Altiste Ltd seeks 250 000 euros for developing the full working beta-version of the web service
      • This entitles 35 % of the shares of Altiste Ltd
    • The funding is used to develop working beta-version of the altiste web service including all major factors
    • 96. The funding is also used to market and sell the service in Finland to start earning profits
    Idea Alpha Working beta Full service Full market potential Expansion to whole EU area First customers Expansion to selected countries Several customers In Finland Current status Seed funding Profit funding
  • 97. Execution plan
    • Two work health professionals are hired to gather the relevant literature and legislative information to all factors
    • 98. The algorithms and questions are finalized for noise, radiation, dust, climate and chemicals
    • 99. A reference data is gathered to database for all the factors from internet, free databases and own measurements
    • 100. A sales manager is hired aiming to sell the service to 100 to 150 pilot customers in Finland in 2010
    • 101. A marketting model is negotiated with selected major healthcare organizations in Finland
  • 102. Exit strategy
    • Company is sold to one of the major healthcare companies working in European Union
      • Target price is 25 million Euros after 5 to 7 years of operation
    • Healthcare companies are advancing to proactive healthcare sector, thus are interested in services, which provide risk assessments
    • 103. Altiste web service is a missing link between employers and healthcare service providers