1. ViFlex
Better Glasses for Developing Countries
Yitaek Hwang – B.S.E. ECE/BME dual degree Pratt 2016
Nick Lockett – B.S.E. ECE/CS dual degree Pratt 2018
Nathan Brajer – M.D. Candidate, Duke University School of Medicine 2018
2. Problem
1 optometrist for 1,000,000 people
703 Million people need glasses
35% productivity, 20% income
3. Do-It-Yourself
Customized for each individual at the point of sale
Low cost glasses for both near and distance vision
Low Cost Parts
Solution
Long Term Value
7. Funding Strategy
$37,000 funding to date
Need $10,000
Social Impact Investment
______________________
• 4k - Mold for Arm Manufacturing
• 3k - Build Inventory (5,000)
• 2k - Customer Acquisition &
Marketing
_______________________
Apr 2014--$15,000 WashU Engineering
Discovery Competition
Oct 2014--$10,000 WashU Global Impact Award
March 2014--$5,000 Indiegogo Campaign
April 2014--$2,000 Duke
Office of Civic Engagement
May 2014--$5,000 Duke Startup
Challenge Summer Stipend
8. Sales and Projections
Year: 2016 2017 2018
Sales 5000 20000 50000
Revenue $35000 $140000 $350000
- Cost of
Frames
$5785 $23140 $57850
- Cost of
Shipping
$6000 $24000 $60000
- Cost of
Lenses
$5000 $20000 $50000
Gross Profit: $18215 $72860 $182150
Initial Sales:
• $7 per pair of reading glasses
• $4.80 margin per pair
-----------------------------------
$18,215 expected profit
from initial 5,000 inventory
Projections:
9. Team: Student-led, Student-run
Nathan Brajer
Co-founder
Yitaek Hwang
CEO
Nick Lockett
COO
Evan Madill
Co-founder
15 Member Team
13 Undergraduate Engineers
2 Medical Students
11. Next Steps
October
Receive first injection molded frames
November
Fill first large scale orders
December
Yitaek travels to Nepal
Spring
Expand NGO customer base
12. ViFlex LLC: Impact
A social venture working to increase the accessibility of eyeglasses in
developing countries
Multi
Social
EconomicGlobal
