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Spine Tech Business Plan
1. a Digital Safari GreenBizz company
Business Plan Competition 2011
Elaine Cotecson Gustavo Gomez John Criley
Chief Executive Officer Chief Financial Officer Chief Technical Officer
2. ExecutiveSummary
âFeel Again, Move Again, Live Again.â
Spine Tech has a real solution for paraplegics and quadriplegics. That solution is the Power
Spine, and with it, mobility after paralysis becomes a reality.
Products/Services:
Spine Techâs product is the Power Spine. The Power Spine is a spinal cord re-activator
designed for paralysis victims. It is made of titanium processors, spokes, and electri-
cal dynamo. The pacemaker-style generator powered by lithium-iodine batteries creates
electrical impulses that re-activate the nerves on the spinal cord. The spokes will serve
as a bridge to send the electrical impulses on the afferent pathway to the spine and brain
when necessary, and back down the efferent pathway to other parts of the body, replac-
ing major motor skills and allowing its users to âfeel again, move again, live again.â
The Market and Opportunity:
Due to the number of potential customers and amount of money being spent for spinal
cord injury research, the Power Spine will be in constant demand, and it will be successful.
According to the Catastrophic Injury Resource Center, there are approximately 250,000
paraplegics and quadriplegics living in the United States today, making them Spine Techâs
3. target customers. According to the United Spinal Association, costs range from $209,000 to
$710,000 in the first year after the injury , and between $14,000 and $127,000 every year thereaf-
ter. The National Spinal Cord Injury Statistical Center also reports that the United States spends over
$14.5 billion annually in direct medical costs and disability support, and lost productivity accounts
for an additional $5.5 billion. The Power Spine will help reduce these costs to virtually nothing by
giving mobility to paraplegics and quadriplegics, ridding them of the resposibility to pay for expenses
related to their injury.
Marketing and Advertising:
Spine Techâs target customers are paraplegics and quadriplegics. The Power Spine will be pro-
moted through doctor and rehabilitation specialist referrals, as well as medical conferences. Printed
methods would include health and medical magazines, such as Medical News Today, BioMechan-
ics, Medical Device Technology, Outpatient Surgery, and Telemedicine Today. Public ads and bill-
boards with eye-catching simplicity and power will draw customers to Spine Tech as they contem-
plate dramatically changing their lives for the better. Spine Tech will target national talk shows such
as Oprah, Today, and Ellen to feature the Power Spine. A professional film maker will also be hired
to create a documentary of the whole installment process of the Power Spine to post on the official
website. When paraplegics and quadriplegics come across these forms of promotion for Spine
Tech, they will know that they have an opportunity to regain an ability that they thought was lost.
Competition:
There is no direct competition to the Power Spine. Other methods of helping paraplegics and
quadriplegics such as wheelchairs, exoskeletons, rehabilitation centers, and stem cell research,
give mobility, but they do not address the internal injuries suffered. Spine Tech permanently restores
major mobility skills through the Power Spine, and is guaranteed to be successful in the medical
device market.
Financials:
Spine Tech is expected to earn $75,000,000 by its fifth year in business. In order to reach that
point, we are requesting $1,200,000 in capital funding to meet initial investments.
4. CompanyProfile
Mission Statement:
To provide a direct, internal solution to severely damaged spinal cords, giving paraplegics
and quadriplegics the chance to âfeel again, move again, and live again.â
Company History:
Students of the Digital Safari Academy sought out ways to improve human lifestyle by
creating a product designed for paralysis victims. John Criley, Spine Techâs Chief Techni-
cal Officer, originally planned to make an entire robotic suit. The rest of his team, Elaine
Cotecson and Gustavo Gomez, did more research and found that the Berkeley Robotics
& Human Engineering Laboratory had already developed an exoskeleton designed to give
paralysis victims mobility. After receiving input from professional business mentors and in-
structors, they decided to focus their attention on severe spinal cord injuries. They created
Spine Tech, and with patented titanium technology, along with the application of an existing
power source, Elaine Cotecson, Gustavo Gomez, and John Criley invented the Power
Spine, a spinal cord re-activator that gives paralysis victims the ability to move again.
5. tec son
ine Co fficer
Ela xecu
t iv eO
fE
Chie
As Chief Executive Officer, Elaine is responsible for the success of Spine Tech. She
oversees operations, marketing strategies, company financing, creation of company culture, human
resources, and safety. Her main duty is to set strategy and vision for Spine Tech, ultimately setting
the direction of the company. Not a single feature of the Power Spine goes unnoticed.
Elaine embraces the leadership role of this project. Her previous works prove that she is
more than qualified to take on the position of Chief Executive Officer. In the summer of 2010, she
took part in a 6-week internship at Kaiser Permanente Hospital producing, directing, filming, and ed-
iting videos on workplace safety and patient care for the Emergency Department. She was exposed
to the medical environment on a regular basis, allowing her to learn hospital procedures and patient
care. Her experience gives her the knowledge necessary to run a medical facility and take part in
the medical device market. During the 2008-2009 school year, she served as the secretary of her
class, working hand-in-hand with the class president to plan, prepare, and lead activities that raise
money for the graduating class of 2011. Elaine has produced, directed, filmed, and edited a video
project called âSpeaking of I.D.entity,â where she also had to compose and record an original song
that reveals her true self. She then performed her entire presentation in front of a public audience.
âWe Are Mount Diablo: Issues of Ethnicity and Culture at MDHSâ was another project Elaine led, re-
quiring her to produce, direct, film, and edit two whole documentaries portraying the struggle of kids
in America with immigrant parents and family members who have expectations when it comes to
career choices. The success of the group was evident in the delivery of the message portrayed by
the documentaries. A common, but often overlooked, issue was brought to the surface by Elaineâs
team, creating awareness and assurance for those experiencing the same conflicts that they are
not alone.
6. m ez
o Go ffice
r
us tav nci
a l O
G ie f Fi
n a
Ch
The responsibilities of Spine Techâs Chief Financial Officer, Gustavo Gomez,
include controlling cash flow, company liabilities, budgeting and expenses, and maintaining
communication with financing sources such as investment bankers, financial analysts, and
shareholders. Insurance is also an area of concentration for Gustavo. He sees to it that the
Power Spineâs users receive coverage and as much financial aid as possible.
Gustavo has worked on numerous video projects and is skilled at Photoshop,
as well as music production. He is also skilled at creating and editing music, as well as
editing and creating new pictures. These skills play a major role in the promotion of the
Power Spine, especially when designing and creating visuals that appeal to Spine Techâs
target customers. Gustavo has also worked on a poverty solution project for the country of
Sri Lanka, requiring that he have a fundamental idea of how to manage costs and use re-
sources wisely. This knowledge is essential to Spine Techâs financial stability, along with the
dedication and time management skills that were necessary to carry out these important
tasks.
7. C riley ficer
Jo hn cal
O f
c hni
ie f Te
Ch
As Chief Technical Officer, John Criley oversees research and development activities, and
focuses on scientific and technological issues within Spine Tech. With his technological background
and experience, John is a reliable technical source for the Power Spineâs users. He sees to it that all
equipment needed for operation, assembling, surgery, and maintenance continue to run efficiently.
He also plays a role in marketing as he and Gustavo work together to create print advertisements
for Spine Tech and discuss marketing strategies with Elaine to further the promotion of the Power
Spine.
John developed a water purification plant for the country of El Salvador in a project called
âLegacy of Imperialism.â He invented a plan that would improve the water sanitation system in El Sal-
vador, supplying towns with clean and reusable water, also creating jobs for the countryâs citizens.
He also produced a movie called âSpeaking of I.D.enitity,â and a documentary for the project called
âWe Are Mount Diablo: Issues of Ethnicity and Culture at MDHS,â developing creativity and multime-
dia skills. Johnâs biggest qualification for being Spine Techâs Chief Technical Officer is his knowledge
of robotics and computer command technology that is used by the Power Spineâs competition. He
has experience in machinery maintenance, and programming command-controlled movements in
robotics. He learned how to fix engines, work with heavy machinery, and look for electrical problems
in vehicles, along with different forms of metal equipment. He learned to create metal stuctures, and
he made a circuit board for a carâs computer. The transferrable skills of John and his team mates
allow them to work together and successfully create and run Spine Tech.
9. The Power Spine:
For those who have fallen victim to severe spinal cord injuries, Spine Tech has the solution. We
have created the Power Spine, a spinal cord re-activator made of titanium processors, spokes, and
electrical dynamo, powered by lithium-iodine batteries. With the Power Spine, a spinal cord injury
victim will be able to âfeel again, move again, and live again.â
Power Spine Parts:
â˘Titanium Processors
â˘Titanium Spokes
â˘Titanium Electrical Dynamo
â˘Lithium-Iodine Batteries
Power Spine Specifications:
â˘Tititanium Processors: attach to nerve fibers on spinal cord and connect to titanium spokes
â˘Titanium Spokes: attach to titanium processors and create a bridge over severed part of
spine, sending electrical impulses created by titanium electrical dynamo
â˘Titanium Electrical Dynamo: generator that creates electrical impulses sent on the afferent pathway
to the spine and brain when necessary, and back down the efferent pathway to other parts of the
body; replaced every 5 to 10 years with lithium-iodine batteries
â˘Lithium-Iodine Batteries: powers titanium electrical dynamo and is replaced every 5 to 10 years
Features and Benefits:
â˘Gives paraplegics and quadriplegics mobility
â˘Specialized doctors perform surgery
â˘Generator and battery replacement is brief and painless with local anesthesia
â˘Helps paraplegics and quadriplegics recover from an injury that affects anatomical functions such
as bladder, bowel, circulatory, respiratory, and muscle control, along with skin sensations and
sexual health
10. MarketAnalysis
Opportunity Assessment:
Despite efforts to make activities, such as driving and sports, safer, the number
of spinal cord injuries remains constant each year. According to the Catastrophic Injury Re-
source Center, there are 12,000 new spinal cord injuries every year in the United States.
52% of these victims become paraplegic-paralyzed in both lower limbs due to spinal dis-
ease or injury, and 47% become quadriplegic-paralyzed in the entire body below the neck.
There are approximately 250,000 paraplegics and quadriplegics living in the United States
today, making them Spine Techâs target customers. The financial costs associated with
spinal cord injuries can be staggering. According to the United Spinal Association, costs
range from $209,000 to $710,000 in the first year after the injury , and between $14,000
and $127,000 every year thereafter. The National Spinal Cord Injury Statistical Center also
reports that the United States spends over $14.5 billion annually in direct medical costs
and disability support, and lost productivity accounts for an additional $5.5 billion.
11. Because of the costs to live with this type of injury, research into it has gradually in-
creased. The major government agency funding spinal cord injury research is the National In-
stitution of Health, which funds fellowships about $100,000 per year for 3 to 5 years, individual
research grants $250,000 per year for 3 to 5 years, and program grants that may be as much as
$1,000,000 per year for 3 to 5 years. Additionally, there are state, industry, and private grants on
the order of $50,000 to $100,000 per year for 1 to 2 years. This data shows us that United States
investment has increased over time. In 1995, the investment totalled to $60 million while in 2000,
the investment rose to $100 million. The growth of investment continues until present time, demon-
strating the growing demand for better treatment of these types of injuries. This is Spine Techâs cue
to make the Power Spine available to the general public.
According to Charles Whalen, a senior analyst with Frost & Sullivan, Mountain View, CA-
based market researchers, the medical device market is one of the largest and most stable indus-
tries in healthcare. Whalen estimates that the U.S. medical device market produces about $57.6
billion in revenue, with an additional 8% compound annual growth rate. The U.S. market produces
half of the worldâs medical devices and consumes approximately 40% of the worldâs output. Spine
Tech is part of the medical device market, making its success rate increase. There is an opportunity
for the Power Spine, and it will continue to grow as it remains in the market.
12. Competitive Analysis:
The Power Spine is a spinal cord re-activator, made of titanium processors and
spokes, that uses a pacemaker-style generator powered by replaceable batteries. The
spinal cord is made of nerve fibers, and the Power Spine attaches titanium processors to
those nerve fibers along with needle-thin spokes that serve as a bridge to bypass the in-
jured segment of the spine, sending electrical impulses on the afferent pathway, the nerve
pathway inside the body that leads to the spine-and brain when necessary, and back
down the efferent pathway, which leads to other parts of the body that cause movement
to occur. Lithium-iodine batteries last for 5 to 10 years, making their replacement possible
within that time span. The procedure only requires a small incision in the area of the back
that is right above the severed part of the spine. Local anesthesia will make the battery re-
placement procedure painless. Rehabilitation after surgery will still be needed, but ultimately
the user should gain back all movement lost.
Other companies and products also attempt to help paraplegics and quadriple-
gics. Therefore, Spine Tech will not be without competition. A form of competition for Spine
Tech is robotics. The Berkeley Robotics & Human Engineering Laboratory has developed
an exoskeleton system called âeLEGSâ that allows paraplegics and those with mobility
disorders to stand up and walk. The collaboration between UC Berkeley and Berkeley
Bionics has resulted in the development of a hardware and software package that uses
natural human motion to safely translate the userâs intent into the required exoskeleton
action. The system incorporates several innovations, including a compact, on-board,
power regeneration system so battery life can be lengthened for a longer period of time,
an advanced control system and user interface to tailor the amount of assistance that the
user needs, and a non-constraining lightweight design that is easy for users to put on and
take off without much needed assistance. While eLEGS does not require surgery, its users
need the external gear and support to keep them standing, and once the exoskeleton is
taken off, the ability to be mobile is lost. Spine Tech, on the other hand, surgically implants
the Power Spine, giving its users a weightless solution that serves the same purpose as
eLEGS, restoring mobility to oneâs life, but does so as long as they have the Power Spine.
13. Another example of indirect competition are rehabilitation hospitals. One such hospital
is the Spaulding Rehabilitation Hospital located in Boston that provides a spinal cord rehabilitation
program for spinal cord injury victims. According to www.sci-info-pages.com, this hospital is one of
the top rehabilitation centers in the nation for spinal cord injury victims. The goal of the program is
to provide its patients the opportunity to reach the highest level of independent function and return
to an active and productive life. It is individualized and patients can receive 3 to 5 hours of individual
and group therapy 5 to 6 times per week.
Intensive medical management, pressure mapping, physical, occupational, and speech
therapy, spasticity management, pain management, a peer visitor program, and discharge planning
are some of the services included in the program. However, the hospital does not take care of the
rootof the injury. Instead, it deals with the aftereffects that cause inconvenience and pain. Help to
recover from injuries and gain emotional support is provided, but these services can only go so far
when it comes to fully restoring mobility to oneâs life. The Power Spine resolves the main issue that is
caused by spinal cord injuries, and that is the loss of movement.
14. While there are other companies and products that serve the same purpose
throughdifferent methods, none provide the full mobility that Power Spine provides. How-
ever, one form of indirect competition with the Power Spine is a thought-controlled wheel-
chair developed by Toyota. The operating system allows a person to control a wheelchair
using nothing but his brain. The system monitors brain waves every 125 milliseconds,
and the user doesnât experience any lag in response from the system. This wheelchair is
competition because it provides speed and convenience, and aids in mobility. Since the
system in this product is controlled by human thought rather than voice, commands made
by the user will be executed without delay, as if he were using his original limbs to transport
himself.
Unlike the Power Spine, no surgical procedures are required to provide move-
ment for the users of Toyotaâs product. However, Spine Tech is selling movement, and
although the thought-controlled wheelchair also provides its users with movement, it is
incapable of directly healing the central nervous system in the body. No natural move-
ment can be executed by the paralyzed body parts. The solution the thought-controlled
wheelchair provides is not internal. The Power Spine solves the internal problems of spinal
cord injuries, appealing to the idea that paralysis victims will be able to use their previously
disabled limbs to move again.
15. Finally, stem cell research could eventually be a form of direct competition for Spine Tech.
The injection of stem cells for spinal cord injuries is an internal solution that brings back some
sensory ability and improved motor function. Clinical trials and studies have been conducted in Ar-
gentina, China, Portugal, and are now starting in the United States. Patients who have reported im-
provements in their conditions after this type of treatment claim that the improvements are retained
permanently. While some tests have yielded positive results, there are still patients that report little
to no improvement. Additionally, the treatment is not available now. The Power Spine will be able to
compete because it is available now and all users report improvement in mobility. Spine Tech never
fails to disappoint its customers that depend on the Power Spine to bring movement back into their
lives.
The Power Stem Cell Exoskeletons Wheelchairs Rehabilitation
Spine Research Centers
Provides Mobility
Creates an Internal
Solution
Provides Rehabilitation
Services
Requires Surgery
Available in the
Medical Device Market
16. Customer Profile:
Demographics
Spine Techâs customers will be spinal cord injury victims, particularly paraplegics
and quadriplegics. The average age of these victims is 33, and the majority are male (82%)
while female victims make up 18% of the injured population. The Power Spineâs users
surely fall victim to the leading causes of spinal cord injuries.
As shown in the graph above, these causes are road traffic accidents (36.8%), falls
(41.7%), sharp trauma or assault (2.7%), sports (11.6%), collsions or lifting (4.2%), and
other forms of unspecified trauma (3.3%).
17. Geographics
Paraplegics and quadriplegics are found all over the world. No matter where we travel,
there will always be possibilities of experiencing the main causes of spinal cord injuries. Therefore,
Spine Tech will consider paraplegics and quadriplegics worldwide as potential customers, but will
particularly target nations that are not on the Developing Countries List provided by the American
Mathematical Society. These nations include the United States of America and the United Kingdom.
Psychographics
According to www.spinal-cord.org, common emotional responses of severe spinal cord
injury victims are denial, depression, feelings of hopelessness, and fear. There is also a lack of
understanding of whatâs in store, the unknown, and whatâs next. The inability to work, tend to busi-
ness affairs, and care for oneâs family and interact with friends are also included in the package
of emotional distress. The patients and their loved ones all seek different treatment options from
healthcare professionals as they continue to deal with the complexity of emotions and special ongo-
ing needs of the spinal cord injury victims. The Paralysis Resource Center shows the thousands
of dollars spent in order to live with spinal cord injuries, indicating the interest level of Spine Techâs
target customers. Because the help of healthcare professionals will be sought after, Spine Techâs
target customers, paraplegics and quadriplegics, will get the solution theyâre looking for, the ability to
move again.
18. MarketingPlan
Product:
Spine Techâs product is the Power Spine.The Power Spine is a spinal cord re-activator
made up of titanium processors and spokes. Its electrical impulses are produced by a
pacemaker-style generator powered by replaceable batteries. The titanium processors
are attached to the nerve fibers that surround the severed area of the spinal cord, and the
connected spokes serve as a bridge to bypass the site of the injury. The entire device is
surgically implanted, providing an internal solution for paraplegics and quadriplegics that
cannot be guaranteed by other products and services that address the same issue. The
batteries in the generator need to be replaced every five to ten years, requiring a local
anesthesia for small incisions and quick stitch-ups. With Spine Techâs full warranty, the
company claims that the Power Spine is 100% guaranteed to work and performs all the
technical and medical functions necessary to restore movement to a personâs life.
Price:
The Power Spine grants mobility with patented titanium technology in the nerve processors
and needle-thin spokes. A surgical procedure is also required for the product, along with
patient consultation beforehand. Therefore, the price customers need to pay will total up to
$500,000.
19. Placement:
Spine Tech will have a main facility in Texas where the surgical procedure for the Power Spine will be
performed. Texas is where the majority of wheelchair manufacturing companies in the United States
are located, giving Spine Tech an expandable market. As the company continues to grow, exten-
sion branches will be built. Spine Tech can be reached through the official website, and in person at
their main facility and extension branches.
Promotion:
The Power Spine will be promoted through some specific health and medical magazines that Spine
Techâs print advertisements can be placed in such as Ability, Medical News Today, BioMechan-
ics, Medical Device Technology, Outpatient Surgery, and Telemedicine Today, as well as public
billboards. Spine Tech will target national talk shows such as Oprah, Today, and Ellen to feature
the Power Spine. A professional film maker will also be hired to create a documentary of the whole
installment process of the Power Spine to post on the official website. Spine Techâs marketing mes-
sage is that mobility is possible, even for those who have lost the ability to move. Therefore, promot-
ing through media-based sources would reach the ultimate users, paraplegics and quadriplegics,
with the message that they are one step closer to being able to âfeel again, move again, and live
again.â An additional method Spine Tech will try is the requesting of government mandates for the
Power Spine when workers get severely injured on the job. However, the financials in themselves
are going to support the business successfully.
20. LifeCycleAnalysis
Acquiring (1):
The Power Spine will use less non-renewable resources than current products by only
replacing the generator and batteries, which must be replaced every 5 to 10 years. The
titanium mines in Paraguay, South America will make it the location where Spine Tech
acquires its titanium, which will be mined by paid workers. Lithium-iodine batteries will be
supplied by Greatbatch Medical in Alden, New York, whose founder was the co-inventor
of the first successful implanted pacemaker. The company was founded for the purpose
of developing long-lived primary batteries to fuel medical devices, such as pacemakers.
Manufacturing (2):
The production of the Power Spine will have the same amount of pollution and environ-
mental impact as current products because Spine Techâs main facility in Texas will carry
out the assembling of the titanium processors, spokes, and generator and lithium-iodine
batteries. The processors, generator, and batteries will be a standard size, but the size of
the spokes will be customized depending on the patientsâ needs. The customizations of
the spokes and the technology that powers our productâs processors and generator will all
be developed in Spine Techâs facility.
Transporting (3):
The fully assembled Power Spine will not need to be transported. Pollution coming from
trains and trucks will only occur when shipping titanium and lithium-iodine batteries from
Paraguay and New York.
21. Using and Disposing (4):
The ownership and use of the Power Spine decreases social and environmental problems. Spine
Tech provides a solution for paraplegics and quadriplegics, and doesnât affect consumer health. The
Power Spine does not pollute the body, make noise, or smell bad. Our product does not take up
a lot of space, and the battery has to be replaced every 5 to 10 years. Safety can be jeopardized
if the productâs users do not take care of their bodies or the Power Spine. Since it is designed to
solve the problem of paralysis, the Power Spineâs users will benefit from the opportunity regain their
major mobility skills. Titanium processors, spokes, and generator require the mining of the element
titanium. Every 5 to 10 years, the generator and lithium-iodine batteries must be replaced. The
generator is made of titanium, so disposal would mean sending the used generators to the refinery
in Spine Techâs facility that will melt down the titanium and re-use it for new products. Spine Tech will
also be sure to go through the correct disposal process for lithium-iodine batteries so that they can
deteriorate overtime without causing harm to the environment.
(1)
(4)
(2)
(3)
22. FinancialProjections
Sales and Revenue Growth:
For the first year of production, Spine Tech would be employing one doctor to perform the
surgical procedure necessary to implant the Power Spine. The process for one patient
would include 5 days of consultation, 4 days of capturing detailed X-rays and analysis of
results, 2 days of gathering ready-made supplies and customizing certain parts, 2 days
of pre-surgery consultation with the patient, 1 day of surgery, and 16 days of recovery
time. As soon as the recovery period begins, the same doctor can repeat the process
with another patient, allowing him to perform 2 surgeries per month. By the end of the
first year, he would have been able to perform 24 surgeries, earning Spine Tech a total of
$12,000,000 for the year. Each year, we plan to increase the number of doctors by 1,
also increasing the amount of patients and number of surgeries that could be performed
at one time. The amount of earnings will steadily increase due to the number of injuries
that cause paraplegia and quadriplegia every year. Spine Techâs only limiting factor is the
number of surgeries that we are able to perform at once. However, we plan to continue
growing and expanding our facility, building extension branches in different locations as
soon as we are able to maximize the number of doctors in one facility.
Operations Budget:
For the purposes of this project, it is assumed that the operations budget for our company
comprises 35% of our revenue and is composed of the following individual items:
â˘Electricity
â˘Manufacturing Equipment
â˘Surgical Equipment
â˘Recovery Beds
â˘Main Facility in Texas and Extension Branches
â˘Labor and Management
â˘Transportation
23. Cost of Goods:
For the purposes of this project, it is assumed that the cost of goods for our companyâs product
comprises 25% of our revenue and is composed of the following individual items:
â˘Titanium
â˘LIthium Iodine
â˘Processors
â˘Electricity-Directing Spokes
â˘Electrical Impulse-Conductive Generators
â˘Operating Room Expenses
Advertising and Marketing Expenses:
Spine Tech is going to market the Power Spine through print ads and television. Our operations
budget for the first year is $750,000 for the first quarter and $1,050,000 for the following three
quarters, making the yearâs total $4,200,000. Since 30% of our budget is going into marketing and
advertising, the total amount of money saved up for that purpose is going to be $1,260,000. This
money will go into the promotion of the Power Spine through television, allowing Spine Tech to be
featured on national talk shows such as Oprah, Today, and Ellen. Spine Tech will also hire a profes-
sional film maker to create a documentary of the whole installment process of the Power Spine to
post on the official website. Print advertisements and public billboards will also be covered by the
advertising and marketing expenses
Sources and Uses of Funds:
Spine Techâs funding will come from sources such as bank, private, and 504 loans, equipment
leasing, royalty financing, and direct public offerings. In addition, we are seeking $1,200,000 in
venture capital funding to meet initial investments. The operations budget, and advertising and mar-
keting expenses will be Spine Techâs priority when it comes to where finances are directed. If Spine
Tech fails to meet its funding needs, the money earned will be focused on advertising and market-
ing through any possible source such as print, television, and internet promotion. The public needs
to know about the Power Spine in order to purchase it. Therefore, the more patients we acquire,
the more money we will earn to pay back investors and continue production of the Power Spine.
At the same time, the fixed costs will be paid so that those who purchase the Power Spine will still
have the necessary resources that make the product available to them.
