Mare - Cleaning up toxic sea water from oil spills
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Team Mare – 3rd Place Keiana Cavé, Karan Jerath, Djamila Youcef-Khodja Class 4, MIT Global Entrepreneurship Bootcamp Seoul Demo Day August 12, 2016 About the program The MIT Global Entrepreneurship Bootcamp is an intensive, week-long new ventures leadership program that gives bootcampers a taste of drinking from the firehose that all MIT students experience. It is a nexus connecting entrepreneurs from around the world to the entrepreneurship and innovation eco-system surrounding the Massachusetts Institute of Technology. https://bootcamp.mit.edu/entrepreneurship
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Mare - Cleaning up toxic sea water from oil spills
- 1. Making the world a better place. No, really!
- 2. Our team Keiana Cave Chief Scientist Smithsonian Field Scientist Consultant for US Department of Commerce 2 publications and 2 patents Karan Jerath Biz Development Forbes 30 under 30 in Energy Intel Young Scientist Award International Society of Petroleum Engineering Djamila Yousef COO Finance Harvard Business School, ESCP M&A Analyst Rothschild, UBS, Credit Suisse
- 5. ContainedOil spills Burned/ dispersed Nanotoxins Endophytic bacteria die All cordgrasses die 6 h 12 h 12 h 24 h 6 mo
- 6. ContainedOil spills Burned/ dispersed Nanotoxins Endophytic bacteria die All cordgrasses die 6 h 12 h 12 h 24 h 6 mo If cordgrasses die, everything dies.
- 9. Decision Making Unit Oil spill HSE Head HSE Team Report Cost analysis Vendors Disperser Purchasing Fixed
- 10. Market $4.4 Bn Global market 128 oil companies 700 offshore rigs $1.3 Bn Beachhead market 32 oil companies in Gulf of Mexico 213 offshore rigs
- 11. Financials 2017 2018 2019 2020 2021 Offshore rigs 2 23 46 92 184 Revenue $0 $7,762,500 $16,767,000 $30,180,600 $54,325,080 COGS $75,000 $776,250 $1,397,250 $2,515,050 $4,527,090 Research & Dev $250,000 $312,500 $390,625 $488,281 $610,352 Marketing & Sales $50,000 $60,000 $72,000 $86,400 $103,680 General & Admin $72,667 $446,667 $866,667 $1,182,667 $1,496,667 Profit -$447,667 $6,167,083 $14,040,458 $25,908,202 $47,587,292 LTV -$205,078 $1,643,300 $2,648,896 $2,968,970 $2,964,554 COCA $136,719 $15,625 $15,750 $7,052 $4,846
- 13. “The toxic targeting molecule sounds interesting. We're doing some research into how floating islands with microbe biofilms on the floating matrix and plant roots can support oil spill response, so this could be an interesting part of the solution?” Email from Richard Taylor, Former VP Operations of BP Aug 11, 2016 9:15pm
- 14. Our vision
- 16. Business model $125/lb. Cost of materials 800–1,200% Markup
- 18. Competitors MARE NALCO Experimental Filter pad Quick dispersion / spread Neutralizenanotoxins Containing/ Burning
- 19. Pilot project w/ Chevron Go to market 12 mo EPA certification Partnerships government, NGOs Direct sales8-12 mo