Keppel Ltd. 1Q 2024 Business Update Presentation Slides
Life assist pitch portfolia-public
1. Wearable ‘OnStar for Seniors’
LifeAssist, Inc. is a Delaware corporation
Jean Anne Booth, CEO
JeanAnne.Booth@LifAssist.com
512-917-3088
2. We know embedded–
we built the first ARM MCUs
Brian Kircher
SOFTWARE
ACQUIRED BY
Marc DeVinney
CTO
Jean Anne Booth, CEO
previously General Manager,
ARM-based MCUs - TI,
founder of Luminary Micro
Strategic Advisors
LifeAssist Confidential 2
3. Her twin sister
Jean
My Mom
Joan
Our Story
LifeAssist Confidential 3
4. Focus
Groups
call
AudibleAssist
‘OnStar for
People’
http://youtu.be/1WBw6p7K
32M
Calling
911
Cellular
Wi-Fi
Bluetooth Smart
GPS
LifeAssist Confidential 4
5. Senior population is fastest growing
US segment
101M buyers for
20M seniors today
Medication Non-
Compliance costs
$300B annually
The Majority of Seniors 65+
have at least One Chronic
Condition, and
Take 5 or More Medications
Of all nursing home admissions
Of all hospital admissions
Users: Seniors
Paying Customers: Consumers, Self-insured
corporations, Pharma
LifeAssist Confidential 5
$
6. AudibleAssist is easy.
You speak to it,
it speaks to you
Talk to it by name
FORGETFUL LOST HURT
Calling
911
Turn right at
the next
street
Did you take
your
Spiriva?
Learns the user’s lifestyle and
provides help when they are
lost, hurt or forgetful
http://youtu.be/1WBw6p7K3
2M
LifeAssist Confidential 6
7. Demo on our beta prototype
LifeAssist Confidential 7
8. Grant to produce
prototype
Business Model
$299 installation + $35/month
- AT&T and Verizon consumer sales channels
- Will target CVS, Walgreens, Target, Costco, and Sam's Club.
Retiree trial to reduce
$2.3B medical costs LifeAssist Confidential 8
9. Patented quick-swap batteries
Peel away for charging
Better than a
Smart Watch
200% more battery life
Easy-to-use continuous speech
recognition
Quick-swap batteries
LifeAssist Confidential 9
10. Focus
Groups
call
AudibleAssist
‘OnStar for
People’
http://youtu.be/1WBw6p7K
32M
Calling
911
Cellular
Wi-Fi
Bluetooth Smart
GPS
LifeAssist Confidential 10
11. Doing well by doing good -
Disrupting today’s PERS market
23M
Unserved
Aging in
Place
Seniors
Game-changing
differentiation
Always ready to
help
Features
discreet styling
Utilizes speech
for ease of use
LifeAssist Confidential 11
18M
15M
27M
2010
2020 2030
Aging in Place TAM
PERS adoption
Aged
85+
Aged
75-79
12. Our Traction & Pipeline
Built alpha prototype;
filed provisional patent;
focus groups;
Android demo;
beta industrial design
$23M revenue;
cash-flow positive;
biometrics-based product
Day 0 Month 6 Year 1 18 months 2 years
LifeAssist Confidential 12
Kickstarter;
user trials;
certifications
Consumer market
launch;
black box corporate
product;
$3M revenue
in development
Projected
13. Join us in our
mission to extend
independence with
dignity for millions
of vulnerable
seniors!
Calling
911
LifeAssist Confidential 13
Editor's Notes
LifeAssist makes wearable assistance devices for seniors, to enable them to live independently, longer.
I’m Jean Anne Booth, and LifeAssist is my fourth startup. My last startup sold to Texas Instruments, and the previous one sold to Apple.
I started LifeAssist because my mother is 80, and she isn’t willing to wear today’s emergency alert products, nor do they provide the full complement of assistance that she needs to live independently.
Focus groups call our AudibleAssist product “OnStar for people” because we help seniors when they’re hurt, lost, or forgetful.
Disguised as a traditional watch, we combine cellular, Wi-Fi and GPS to provide an active medical alert that works anywhere, along with data-driven artificial intelligence that learns the wearer’s lifestyle.
We build the cell phone into the watch because less than 10% of seniors above the age of 75 have a smart phone.
The market in the US alone is huge. Today, 101M target buyers are the children of 20M seniors above the age of 75.
And the majority of seniors have at least one chronic medical condition, and take 5 or more medications a day. Today, 23% of all nursing home admissions and 10% of all hospital admissions are caused by medication non-compliance, and 63% of seniors say they forget doses, so it’s important to consumers and the retiree populations of self-insured companies to improve these numbers.
With an easy-to-use speech interface, we provide discreet support for falls, medication reminders, and as a guard against wandering.
You talk to your watch by its name, which creates the emotional bond that builds loyalty and trust, and eliminates the stigma of needing help.
When your watch wants to talk to you, it vibrates on your wrist like a cell phone on silent, asking for your permission to speak.
You can see how it works in this brief demo using our beta watch. This watch’s name is “Fred Astaire”.
Our solution has caught the attention of AT&T and Verizon, both of whom want to sell AudibleAssist in their stores for a $299 installation fee and monthly service charge of $35/month.
In addition, AT&T is considering a trial to help lower retiree medical costs and Verizon is helping with a grant to implement our next prototype.
We are targeting CVS, Walgreens, Target, Costco, and Sam’s Club as additional consumer channels.
Our sustainable competitive advantage includes 5 fundamental technologies on which we have a provisional patent.
The team’s embedded background allows us to build a watch that has 200% more battery life, easy-to-use continuous speech recognition, and a patented quick-swap battery system that we’ve shown can easily be changed with just one hand.
Focus groups call our AudibleAssist product “OnStar for people” because we help seniors when they’re hurt, lost, or forgetful.
Disguised as a traditional watch, we combine cellular, Wi-Fi and GPS to provide an active medical alert that works anywhere, along with data-driven artificial intelligence that learns the wearer’s lifestyle.
We build the cell phone into the watch because less than 10% of seniors above the age of 75 have a smart phone.
Our TAM is the senior market that wishes to age-in-place, some 85% of the senior population according to AARP. In building this TAM, I took the government’s population projections, assumed that the percentages of seniors in nursing homes and assisted living remains constant, and took 85% of the remainder, yielding some 17M seniors today and climbing to over 27M seniors as the weight of the baby boomers enters the 75+ bracket.
The aspect of our market-space that is most familiar to people is “help I’ve fallen” – the PERS market. LifeAssist does so much more, but looking just at the PERS market, the green line shows were only 1.6M users in 2011, with a total market size of $1B. The majority of the aging-in-place market remains vulnerable today.
The question is “why” – why is the PERS adoption so low? My assertion, backed by our focus groups, is because the PERS market is not providing the differentiation that makes a senior WANT to wear their device. We have three fundamental differentiation factors that our focus groups tell us are the reasons they would wear our AudibleAssist product.
“Always ready to help” means: that you can wear it 24x7, so you don’t forget to put it back on; that it can help with issues at night (for example, a stroke); that it’s waterproof (not just water resistant), so you can wear it in the shower/bath, where a majority of falls happen; that it works anywhere you go, so you’re free to travel (not trapped in your home); that it works standalone, so you don’t need to pair to another device; that it doesn’t require a smartphone, so you’re wearing all you need to stay safe.
“Features discreet styling” means: that it looks like a traditional watch, so there’s no stigma of visibly “needing” assistance; that it doesn’t look tech, because our focus groups tell us that tech makes seniors feel stupid; that it requests permission to speak by buzzing on the wearer’s wrist, so there’s no visual or audible stigma of wearing an assistive device when socially inappropriate; and that it doesn’t require buttons to operate, both to reduce stigma and so it works even if you’re unconscious, unable to move, or unable to talk.
During our bootstrapped phase, we built alpha prototypes, filed a provisional patent on those 5 fundamental technologies, held 8 focus groups of wearers and buyers, built a demo on an Android watch, and developed the industrial design for user trials.
We’ll be in user trials early next year, with a consumer market launch in early 2016, and cash flow positive before the end of 2016.
