The presentation analyses a bio microchip innovation idea to psychologically stop eating disorders.
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2. KNOWLEDGE AND AWARENESS
• Main theme - Eating Disorders
• Problem - eating disorders among youths aged between 20-24 yrs
• Reasons for the disorder - Psychological and biological reasons
• Awareness of the problem - Seeing obese and very slender; consumption of high
quantity of food snacks and junk
• Knowledge - Gained from individuals who have the disorder, owners of
convenience stores that most students shopped and senior medical personnel
with medical history records
3. IDEA GENERATION
• Why-why-analysis
Reason of the eating disorders attributed
to psychological and biological reasons
Other stemming records are cultural
influences and personality traits and skills
deficiencies
Obsession with perfect body size and
shape
• Question Brainstorming
Why eating disorders are common
among youths?
what are factors causing the eating
diorders?
4. MEDICAL CHIPS
• The medical chip of three types
• Suppressing appetite , stimulating appetite or modify hormones
associated with psychological reasons for eating disorder
• Innovation Approach
• Microchip embedded inside the skin behind the ear
• Product Benefits
• Flexible to improvements
• Long-term goal of having a single chip capable of performing the three
functions
• Regulating appetite based on the disorder
• No more need of medication and extensive therapy
5. LIMITATIONS OF INNOVATIVE CONCEPTS
• Biohacking
Mitigation: Constraining system design capabilities
• Privacy issues
• Mitigation: Well designed flexible systems that can be upgraded
Occasional checkups
• Safety concern (Infections)
• Mitigation: Non-corrosive covers over chips
6. MARKET ANALYSIS
• Growth rate over three years
• Global digital health industry expected to grow to $430 billion by 2028
• Great potential with large market size
• CARG for forecast period 2022-2088 around 17%
Year Global Industry Growth Rate
2019 $175 billion -
2020 $299 billion 70.86%
2021 $320billion 7.02%
7. TARGET CUSTOMERS
• Young individuals
• Aged between 20-24 years
• Obese or underweight
• With poor eating habits
• Susceptible to stress, depression and peer pressure
• Individuals seeking permanent solution to their disorder
• Seeking to change lifestyle to fit in
• Users of IG, Tiktok and Snapchat
8. COMPETITION
• The medical chips will compete in a market
environment dominated by companies such as
Medtronic Inc. and J&J
• Competitors have economies of scale , large
workforces, financial capabilities
• Weakness: Risk attached to producing a new
innovation can affect the reputation of the
company
• Entry barriers: High cost of investment
• Partnerships important to gain competitive
advantage
9. PRICING STRATEGY
• The medical chips as an innovation product; the value based pricing strategy will
be used to sell the product .
• Best strategy of increasing the success rate of the product and ensure the venture
is profitable within four years
• The price estimate for a single medical chip will be averagely $200
10. BUSINESS MODEL
• Turning the idea into business will require seeking of
funds for investment (Financing)
• Prototype produced will be tested to get approval to
affirm safety of use
• Mass production and selling to hospitals will be the
strategy to make the venture profitable
• Continuous improvement and reinvestment of profits
will help the business maintain its competitive edge
11. LESSON LEARNT
• Identification of potential opportunity is key to a successful project
• Engaging identification process for comprehensive information gathering
• Proper analysis for interpretation
• Thorough research is important for proper findings to base idea on
