1. Composite Nanocoatings
Eric Loth
Principal Investigator
Team 21 http://youtu.be/sk45p1mpWe8
http://vimeo.com/6552419
Adam Steele
Entrepreneurial Lead
Bob Hergenrother
I-Corps Mentor
Ultra-low friction
nanocomposite coatings that
are durable and low-cost
Joram Slager
# of customer meetings Mentor & Coating Expert
during I-Corps
106

3. Composite Nanocoatings
Example - anti-wetting nanocomposite coating
http://tmblr.co/Z0i3WyB7sDP

4. Day Month Ye
No.
Who are our Key Partners? What Key Activities do our Value Propositions require? What value do we deliver to the customer? What type of relationship does each of our Customer For whom are we creating value?
Surmodics Supplying know-how Reduce icing on aircraft Collaborative
Who are our key suppliers? Our Distribution Channels? Which one of our customer’s problems are we helping to solve? Segments expect us to establish and maintain with them? Who are our most important customers?
Which Key Resources are we acquiring from partners? Customer Relationships? What bundles of products and services are we offering to each Customer Segment? Which ones have we established?
Which Key Activities do partners perform? Revenue streams? Which customer needs are we satisfying? How are they integrated with the rest of our business model?
Medical catheter
& other pre-license and wind turbines relationship
How costly are they?
companies using
UVA Patent implementation help
Reduce drag in fluid Teflon inner liners
Foundation Possible training for
lines
Providing a simple coating application
Ship buildings
UI Office of Tech. and efficient license Reduce insect fouling on
Management airplane wings
Aircraft
Reduce drag on marine companies
What Key Resources do our Value Propositions require?
vehicles Through which Channels do our Customer Segments
Our Distribution Channels? Customer Relationships?
Licensenow? coating
How are we reaching them to
want to be reached?
Coating engineers
Revenue Streams?
How are our Channels integrated?
Reduce ear wax fouling companies and
Which ones work best?
Which ones are most cost-efficient?
on hearing aids
How are we integrating them with customer routines?
device companies
PI with university
directly
tech transfer depts. Preventing liquid films
on heat xfer elements
Direct sales: materials
Biomed labs at
… & equipment
Surmodics
Most important current cost is time and salary Materials and coating equipment sales for immediate
What are the most important costs inherent in our business model? For what value are our customers really willing to pay?
Which Key Resources are most expensive? For what do they currently pay?
Which Key Activities are most expensive? How are they currently paying?
How would they prefer to pay?
revenue during customers’ build-test stage
How much does each Revenue Stream contribute to overall revenues?
R&D to obtain know-how
A licensing model based on a combination of IP and
Licensing fees from IP consolidation know-how for sustainable revenue
This work is licensed under the Creative Commons Attribution-Share Alike 3.0 Unported License.
To view a copy of this license, visit http://creativecommons.org/licenses/by-sa/3.0/
or send a letter to Creative Commons, 171 Second Street, Suite 300, San Francisco, California, 94105, USA.

5. Composite Nanocoatings
Anti-fouling & anti-icing coatings on off-
shore wind turbine blades
$300K from AREVA

6. Composite Nanocoatings
Lubricious coatings on medical catheters
for easy device deployment

7. Composite Nanocoatings
Customer Discovery
Maturity
Rolls Royce :: icing on aircraft inlets 3-4 yrs away
Anti-icing high speed impact
AREVA :: icing wind turbine blades
Gates :: fluid power lines
4-6 yrs away
Less ΔP high pressure
Nitta :: fluid transfer tubes
Boeing :: insect fouling
3-5 yrs away
Anti-fouling Navy :: salt water bio-fouling
high variability
Starkey :: hearing aid wax buildup
Lightsail :: preventing liquid films 2-3 yrs away
Anti-wetting longevity
SIPS :: moisture on structural panels
West Pharm :: lubricious syringes < 1 yr away
Lubricity bio-compatibility
Surmodics :: lubricious med. devices

8. Composite Nanocoatings
No major fundamental
Customer Focus breakthroughs needed
Maturity
Rolls Royce :: icing on aircraft inlets 3-4 yrs away
Anti-icing high speed impact
AREVA :: icing wind turbine blades
Gates :: fluid power lines
4-6 yrs away
Less ΔP high pressure
Nitta :: fluid transfer tubes
Boeing :: insect fouling
3-5 yrs away
Anti-fouling Navy :: salt water bio-fouling
high variability
Starkey :: hearing aid wax buildup
Lightsail :: preventing liquid films 2-3 yrs away
Anti-wetting longevity
SIPS :: moisture on structural panels
West Pharm :: lubricious syringes < 1 yr away
Lubricity bio-compatibility
Surmodics :: lubricious med. devices

9. Lubricity - medical devices
Day Mont
No.
Who are our Key Partners? What Key Activities do our Value Propositions require? What value do we deliver to the customer? What type of relationship does each of our Customer For whom are we creating value?
Surmodics
Who are our key suppliers?
Which Key Resources are we acquiring from partners?
Which Key Activities do partners perform?
Consolidate the
Our Distribution Channels?
Customer Relationships?
Revenue streams?
Added dry lubricity to
Which one of our customer’s problems are we helping to solve?
What bundles of products and services are we offering to each Customer Segment?
Which customer needs are we satisfying?
Collaborative
Segments expect us to establish and maintain with them?
Which ones have we established?
How are they integrated with the rest of our business model?
Medical catheter
Who are our most important customers?
university IP and inner lumen of relationship companies
How costly are they?
UVA Medical Center determine strength catheters for easy
device deployment Possible training for Medical stent
UVA Patent Solidify know-how coating application companies
Foundation of applying coating Added wet lubricity to
outer surface of
Guessed at the Laparoscopic
catheters for smooth value props device
introduction companies
What Key Resources do our Value Propositions require? Through which Channels do our Customer Segments
Coating engineers
Our Distribution Channels? Customer Relationships?
Revenue Streams?
Improved Conferences and
want to be reached?
How are we reaching them now?
How are our Channels integrated? Satellite
expos
Which ones work best?
hemocompatibility for
Which ones are most cost-efficient?
How are we integrating them with customer routines? companies
PI with university extended duration of
tech transfer depts. devices Professional Artistic effects
network
Simplified university Exterior paint
license companies
What are the most important costs inherent in our business model? For what value are our customers really willing to pay?
Most important current cost is time and salary
Which Key Resources are most expensive?
Which Key Activities are most expensive? A licensing model based on a combination of IP and
For what do they currently pay?
How are they currently paying?
How would they prefer to pay?
know-how
How much does each Revenue Stream contribute to overall revenues?
R&D to obtain know-how
Additional materials and coating equipment sale
Licensing fees from IP consolidation
This work is licensed under the Creative Commons Attribution-Share Alike 3.0 Unported License.
To view a copy of this license, visit http://creativecommons.org/licenses/by-sa/3.0/
or send a letter to Creative Commons, 171 Second Street, Suite 300, San Francisco, California, 94105, USA.

10. IP @ U. of Illinois IP @ U. of Virginia
IP
Composite Nanocoatings
! product product
Medical Device Medical Coatings
Company Company
Health Insurance product
Company
Hospital
$
services
Medical Doctor

11. Composite Nanocoatings
Customer Archetype
Acutely aware of cost
Ease of fabrication extremely important
Want to use a cool tech to differentiate
Need a reliable process
Sensitive to FDA and regulation
Happy with friction performance of PTFE
Very focused on their particular device
2 main hubs - Minneapolis and Bay Area

12. Lubricity - medical devices
Day Month Ye
No.
Who are our Key Partners? What Key Activities do our Value Propositions require? What value do we deliver to the customer? What type of relationship does each of our Customer For whom are we creating value?
Surmodics Supplying know-how A Composite Collaborative
Who are our key suppliers? Our Distribution Channels? Which one of our customer’s problems are we helping to solve? Segments expect us to establish and maintain with them? Who are our most important customers?
Which Key Resources are we acquiring from partners? Customer Relationships? What bundles of products and services are we offering to each Customer Segment? Which ones have we established?
Which Key Activities do partners perform? Revenue streams? Which customer needs are we satisfying? How are they integrated with the rest of our business model?
Medical catheter
& other pre-license Nanocoating is a cheaper relationship How costly are they?
and easier-to-use companies using
UVA Patent implementation help
alternative to Teflon Teflon inner liners
Foundation Possible training for
catheter liners
Providing a simple coating application
UI Office of Tech. and efficient license
Management “Teflon liners are 25% of our
cost and are a pain to use”
How are AdvancedCath
- we reaching them to Technologies
What Key Resources do our Value Propositions require? Through which Channels do our Customer Segments
Our Distribution Channels? Customer Relationships?
Licensenow? coating
want to be reached?
Coating engineers
Revenue Streams?
How are our Channels integrated?
companies and
Which ones work best?
Which ones are most cost-efficient?
How are we integrating them with customer routines?
device companies
PI with university
directly
tech transfer depts.
Direct sales: materials
Biomed labs at
& equipment
Surmodics
Most important current cost is time and salary Materials and coating equipment sales for immediate
What are the most important costs inherent in our business model? For what value are our customers really willing to pay?
Which Key Resources are most expensive? For what do they currently pay?
Which Key Activities are most expensive? How are they currently paying?
How would they prefer to pay?
revenue during customers’ build-test stage
How much does each Revenue Stream contribute to overall revenues?
R&D to obtain know-how
A licensing model based on a combination of IP and
Licensing fees from IP consolidation know-how for sustainable revenue
This work is licensed under the Creative Commons Attribution-Share Alike 3.0 Unported License.
To view a copy of this license, visit http://creativecommons.org/licenses/by-sa/3.0/
or send a letter to Creative Commons, 171 Second Street, Suite 300, San Francisco, California, 94105, USA.

13. Composite Nanocoatings
$21.2B Total Market
Catheters (Global)
$9.6B Market
Cardiovascular Catheters (Global)
$900M
Addressable Market
Cardiovascular catheter
inner liners

14. Composite Nanocoatings Push a rod through a catheter tube
Preliminary data showed equivalency to Teflon
Teflon = $12 vs. Coating $0.10

15. Exclusive Partnership
Medical Devices Wind Turbines
Corpus Medical AREVA
Advanced Cath Stryker
GE Vestas
Technologies Neurovascular
$
Surmodics PPG
$
$
$
Composite Nanocoatings
$
$
Sherwin
$
Crowley
Horizon Lines
Maritime
Matson Navigation
Company
Marine Vehicles

16. Expansion
Medical Devices Wind Turbines
Corpus Medical AREVA
Advanced Cath Stryker
GE Vestas
Technologies Neurovascular
$
Surmodics PPG
$ $
$
Composite Nanocoatings
$
$
Sherwin
Growing Customers
$ leverage existing expertise & channels
Crowley
Horizon Lines
Matson Navigation Maritime attack other markets as technology matures
Company focused customer portfolios
Marine Vehicles

17. Backup

18. Composite Nanocoatings Push a rod through a catheter tube
Show that coating has similar performance
Show how much cheaper and easier it is
Demo

19. Composite Nanocoatings
Anti-icing coatings on airplane wings &
engine inlets
$50K from Rolls Royce

20. Composite Nanocoatings
Competition...or potential partners
* by far the biggest
Seem unaware of price
and ease of use issue
Etch only and do not sell
the liners themselves
Need prototype to gauge
the potential of partnering

21. Lubricity - medical devices
Day Mont
No.
Need to focus due
✘
to varying needs
Who are our Key Partners? Consolidate univ. IP &
What Key Activities do our Value Propositions require? What value do we deliver to the customer? What type of relationship does each of our Customer
Medicalvalue?
Who are our most important catheter
For whom are we creating
Surmodics
Who are our key suppliers? Our Distribution Channels?
Teflon liners are
Which one of our customer’s problems are we helping to solve?
Collaborative
Segments expect us to establish and maintain with them? customers?
determine strength -
Which Key Resources are we acquiring from partners? Customer Relationships? What bundles of products and services are we offering to each Customer Segment? Which ones have we established?
Which Key Activities do partners perform? Revenue streams? Which customer needs are we satisfying?
expensive and
How are they integrated with the rest of our business model?
companies
relationship
How costly are they?
no license deal monopolized. We have a
UVA Medical Center
possible without better alternative: Endoscopic
Possible training for
crystal clear IP inexpensive, easier-to- catheter
UVA Patent coating application
use, same-or-better companies
Foundation
Solidify know-how of performance
applying coating Pacemaker-lead
Endoscopic catheters catheter
cause pain for patients
companies
What Key Resources do our Value Propositions require? and require an extra Through which Channels do our Customer Segments
Coating engineers
Our Distribution Channels? Customer Relationships?
Revenue Streams?
doctor to lubricate; we Conferences and
want to be reached?
How are we reaching them now?
How are our Channels integrated?
expos
Which ones work best?
Non-stick
can simplify the Which ones are most cost-efficient?
How are we integrating them with customer routines?
PI with university procedure. cookware
companies
✘
tech transfer depts. Professional
No license deal possible network
without crystal clean IP... Medical stent &
Not a value prop Composite Nanocoatings laparoscopic
will provide licensable IP device companies
What are the most important costs inherent in our business model? For what value are our customers really willing to pay?
Most important current cost is time and salary
Which Key Resources are most expensive?
Which Key Activities are most expensive? A licensing model based on a combination of IP and
For what do they currently pay?
How are they currently paying?
How would they prefer to pay?
know-how
How much does each Revenue Stream contribute to overall revenues?
R&D to obtain know-how
Additional materials and coating equipment sale
Licensing fees from IP consolidation
This work is licensed under the Creative Commons Attribution-Share Alike 3.0 Unported License.
To view a copy of this license, visit http://creativecommons.org/licenses/by-sa/3.0/
or send a letter to Creative Commons, 171 Second Street, Suite 300, San Francisco, California, 94105, USA.

22. Lubricity - medical devices
Day Mont
No.
Who are our Key Partners? Consolidate univ. IP &
What Key Activities do our Value Propositions require? What value do we deliver to the customer? What type of relationship does each of our Customer
Endoscopic
For whom are we creating value?
✘
Surmodics
Who are our key suppliers? Our Distribution Channels?
Teflon liners are
Which one of our customer’s problems are we helping to solve?
Collaborative
Segments expect us to establish and maintain with them? Who are our most important customers?
determine strength -
Which Key Resources are we acquiring from partners? Customer Relationships? What bundles of products and services are we offering to each Customer Segment? Which ones have we established?
Which Key Activities do partners perform? Revenue streams? Which customer needs are we satisfying?
expensive and
How are they integrated with the rest of our business model?
catheter
relationship
How costly are they?
no license deal monopolized. We have a companies
UVA Medical Center
possible without better alternative: Possible training for
crystal clear IP inexpensive, easier-to- Pacemaker-lead
UVA Patent coating application
use, same-or-better catheter
Foundation
Solidify know-how of performance companies
applying coating
✘ ✘
Endoscopic catheters
cause pain for patients
What Key Resources do our Value Propositions require? and require an extra Through which Channels do our Customer Segments
Coating engineers
Our Distribution Channels? Customer Relationships?
Revenue Streams?
doctor to lubricate; we Conferences and
want to be reached?
How are we reaching them now?
How are our Channels integrated?
Expos
Which ones work best?
can simplify the Which ones are most cost-efficient?
How are we integrating them with customer routines?
PI with university procedure.
tech transfer depts. Professional
network Not channels
Not value props
What are the most important costs inherent in our business model?
Most important current cost is time and salary
Which Key Resources are most expensive?
Which Key Activities are most expensive?
✘ For what value are our customers really willing to pay?
A licensing model based on a combination of IP and
For what do they currently pay?
How are they currently paying?
✘
How would they prefer to pay?
know-how
How much does each Revenue Stream contribute to overall revenues?
R&D to obtain know-how
Additional materials and coating equipment sale
Licensing fees from IP consolidation
This work is licensed under the Creative Commons Attribution-Share Alike 3.0 Unported License.
To view a copy of this license, visit http://creativecommons.org/licenses/by-sa/3.0/
or send a letter to Creative Commons, 171 Second Street, Suite 300, San Francisco, California, 94105, USA.

23. Lubricity - medical devices
Day Mont
No.
Surmodics
✘ ✘
Who are our Key Partners?
Who are our key suppliers?
Which Key Resources are we acquiring from partners?
Which Key Activities do partners perform?
UVA Medical Center
Consolidate univ. IP &
What Key Activities do our Value Propositions require?
Our Distribution Channels?
determine strength -
Customer Relationships?
Revenue streams?
no license deal
possible without
What value do we deliver to the customer?
A Composite
Which one of our customer’s problems are we helping to solve?
What bundles of products and services are we offering to each Customer Segment?
Which customer needs are we satisfying?
Nanocoating is a cheaper
and easier-to-use
alternative to Teflon
What type of relationship does each of our Customer
Collaborative
Segments expect us to establish and maintain with them?
Which ones have we established?
How are they integrated with the rest of our business model?
relationship
How costly are they?
Medicalvalue?
Who are our most important catheter
For whom are we creating
companies using
Teflon inner liners
customers?
✘
Possible training for
crystal clear IP catheter liners Pacemaker-lead
UVA Patent coating application
catheter
Foundation
Build prototype! A Composite Nanocoating companies
can make implant lead
Should be long- extraction much less Medical implant
term activities dangerous companies
What Key Resources do our Value Propositions require?
Coating engineers
Our Distribution Channels? Customer Relationships?
Revenue Streams?
Licensenow?Customer Segments
Through which Channels do our
want to be reached?
How are we reaching them
to coating
companies and
How are our Channels integrated?
Which ones work best?
Which ones are most cost-efficient?
device companies
How are we integrating them with customer routines?
PI with university
tech transfer depts. directly
Biomed labs at Direct sales: materials
Surmodics & equipment
What are the most important costs inherent in our business model? For what value are our customers really willing to pay?
Most important current cost is time and salary
Which Key Resources are most expensive?
Which Key Activities are most expensive? Materials and coating equipment sales for immediate
For what do they currently pay?
How are they currently paying?
How would they prefer to pay?
revenue during build-test stage
How much does each Revenue Stream contribute to overall revenues?
R&D to obtain know-how
A licensing model based on a combination of IP and
Licensing fees from IP consolidation know-how for sustainable revenue
This work is licensed under the Creative Commons Attribution-Share Alike 3.0 Unported License.
To view a copy of this license, visit http://creativecommons.org/licenses/by-sa/3.0/
or send a letter to Creative Commons, 171 Second Street, Suite 300, San Francisco, California, 94105, USA.