CerviCare Columbia
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business model, business model canvas, columbia, customer development, lean launchpad, lean startup, steve blank
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CerviCare Columbia
- 1. CerviCare Providing automated cervical cancer diagnostics for accurate, rapid testing of low-income populations Team Jahrane Dale Olachi Oleru Ritish Patnaik Stephanie Yang Advisor: Dr. Aaron Kyle Interviews Last 24 hours: 15 Total: 53
- 2. Day 1 - What We Thought Good Need + Good Product = Great Business Opportunity Plan to build up the company over the span of multiple years Talk primarily to our “end users” (gynecologists) Build up business model over the next month Begin talks with VCs and angels in Mid-February
- 3. Day 1 - Canvas 6. Key Partners Key Partners: International Health Groups (WHO); NGOs; Key Suppliers: Manufacturers; Columbia Tech Ventures (CTV); International Health Groups; NGOs Getting: Access to customers & device manufacturing Giving: CerviCare Diagnostic System 7. Key Activities 9. Cost Structure 5. Revenue Streams Per device sold to the international health organization and non-profit organizations (NGOs) Estimated $50 per CerviCare system 1. Value Propositions 4. Customer Relationships Get Customers: partnerships with health organizations Keep and Grow: ease of use and quality service 2. Customer Segments Most Important Customers: Patients: get care; Gynecologists: provide care; Low-Cost Clinics: venue for care; International Health Organizations (NGOs): provide medical devices What they want: low-cost, rapid and more accurate cervical cancer diagnostics 8. Key Resources 3. Channels
- 4. Day 2 - What We Learned don’t make their hotlines bling (cold calling doesn’t go over well) Total Available Market (2020) Served Available Market Target Market $22B $18B $3B
- 5. Day 2 - Canvas 6. Key Partners 7. Key Activities 9. Cost Structure 5. Revenue Streams 1. Value Propositions 4. Customer Relationships 2. Customer Segments 8. Key Resources 3. Channels
- 6. Day 3 - What We Learned EARLYJANUARY CTV evaluation of IP rights Preparation of provisional patent Consultation with CTV and external IP lawyer Prototype iteration(s) Field testing Prototype reiteration US Patent & Trademark Office Monopoly for up to 20 years ~90% of issued patent documents $3-5k $30-50k → Final Design Reimbursement Officer Invention Report Provisional Patent Money Claims Pays membership Coverage Out-of-pocket fees LATEJANUARY Utility Patent FEBRUARY2017 Medical Services CerviCare Insurance Patients Healthcare Providers (i.e hospitals and physicians) $0
- 7. Day 3 - Canvas 6. Key Partners 7. Key Activities Development of automated software; customer management; hardware development; regulatory process; filing patents; organize government- supported training; fundraising efforts 9. Cost Structure 5. Revenue Streams 1. Value Propositions Current Problems: Low sensitivity and specificity; hard to get complete acetic acid coverage; subjectively classify cancerous lesions; requires hours of lesion ID training Product Features: Automated and objective diagnostic; reduced required operational training; complete acetic acid coverage; low- cost; data is sent to referral hospitals 4. Customer Relationships Get Customers: design competitions; get attention of opinion leaders & prominent health advocates; research publications; referrals Keep and Grow: ease of use and quality service 2. Customer Segments Most Important Customers (Domestic & in Uganda/India): Patients: get care; Healthcare workers: provide/influence care; Low-Cost Clinics: venue for care; International Health Organizations (Uganda) & NGOs (both): provide medical devices What they want: low-cost, accessible, rapid and more accurate cervical cancer diagnostics 8. Key Resources 3. Channels
- 8. Day 4 - What We Learned Cost of Goods (Supply Chain) $25 R&D + SG&A + Profits $135 EU Discounts $20 $200 EU price Cost of Goods (Supply Chain) $0.05 R&D + SG&A + Profits $0.35 EU Discounts $0.05 $0.50 EU price Disposable Sleeve CerviCare System Reseller $0.05 Reseller $20
- 9. Day 4 - Canvas 6. Key Partners NGOs 7. Key Activities 9. Cost Structure 5. Revenue Streams 1. Value Propositions Addressed Problems: ~75% sensitivity and ~80% specificity; subjective cancer lesion identification; 5-10 days of lesion ID training Funding bodies: ~$0.50 per test; ~$22B total market size; matches grant requirements Clinics/Hospitals: 1-2 days of healthcare worker training, visual referral data & images; 12 patients per hour & nurse Physicians: ~95% sensitivity & ~95% specificity; reduced required training & treatment; 12 patients per hour & nurse 4. Customer Relationships 2. Customer Segments Funding Bodies (Global Health Organizations 8. Key Resources 3. Channels
- 10. Day 5 - What We Learned 510(k), Class II Approval Predicate (DySIS) Screening Approval for Use in Uganda 510(k) Review FDA (USA) NDA (Uganda) REGULATORY PATHWAYKEY ACTIVITIES, PARTNERS & RESOURCES Grants & Angels Advisory Board Manufacturing Facilities & Device Materials Provisional and Utility Patent Device Design & Development Fundraising Clinical Trials & Regulatory Approval Manufacturing Freedom to Operate Medit;Analog Devices; Rex Plastics WHO; Gates Foundation; World Bank Low-Income NGOs and Governments USAID, ADF, IMF, AfDB, DFID Columbia Technology Ventures Resources ActivitiesPartners
- 11. 6. Key Partners 7. Key Activities 9. Cost Structure 5. Revenue Streams 1. Value Propositions Addressed Problems: ~75% sensitivity and ~80% specificity; subjective cancer lesion identification; 5-10 days of lesion ID training Funding bodies: ~$0.50 per test; ~$22B total market size; matches grant requirements Clinics/Hospitals: 1-2 days of healthcare worker training, visual referral data & images; 12 patients per hour & nurse Physicians: ~95% sensitivity & ~95% specificity; reduced required training & treatment; 12 patients per hour & nurse 4. Customer Relationships 2. Customer Segments Funding Bodies (Global Health Organizations 8. Key Resources 3. Channels Day 5 - Canvas
- 12. Conclusions Good Need + Good Product = Great Business Opportunity Plan to build up the company over the span of multiple years Talk primarily to our “end users” (gynecologists) Game Plan: Build up business model over the next month Begin talks with VCs and angels in Mid-February WHAT WE THOUGHT WHERE WE ENDED Need to consider other aspects: archetypes, IP, regulatory, revenue model, etc. Need to talk to all customer segments and key partners, not just “end users” Gain funding through both competitions and grants before talks Game Plan: Prototyping and continue iterating business model hypotheses Acquisition or licensing
- 13. Future Plans DEVELOPMENT IP & FUNDING FIELD TESTING DEVELOPMENT FEBRUARY 1, 2016 Finish prototyping and produce a MVP Continue customer discovery process for India & USA IP & FUNDING FEBRUARY 15, 2016 Obtain a provisional patent on our device Apply for incubators, design competitions, & health/aid grants FIELD TESTING SUMMER 2016 Conduct field tests in Mulago Hospital via Columbia partnership Pitch to angels & VCs CLINICAL TRIALS DECEMBER 2016 Begin Phase I clinical trials (FDA approval) CLINICAL TRIALS