Tex cone Final NSF I-Corps Presentation
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This document discusses TexCone, a company that creates water repellent coatings to eliminate ice buildup. It summarizes their customer outreach efforts over multiple phases, targeting aviation manufacturers, experimental aircraft builders, and the antenna market. The document outlines their marketing strategy and discusses lessons learned from interacting with customers. It concludes that TexCone has potential as a viable business with more investment and work to increase production scale and obtain long-term reliability data.
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Tex cone Final NSF I-Corps Presentation
- 1. TexCone Create water repellent surface to eliminate ice buildup for aircraft, communication devices etc.. by surface microtexture. Uniqueness: Low cost bondable film on variety of surfaces Total customers called, more than 50 Prof. Mool Gupta -Principal Investigator Mr. Paul Caffrey - Entrepreneur Lead Mr. Martin Skelly -I-Corps Mentor 1
- 2. Plastic Marketing Eliminate ice Personal Replicators materials Interaction Aviation Build-up Aircraft Adhesion Immediate Experimental Manufactures Severe Temp 24*7 General Industrial Durability Attention Commercial Contacts IP Direct Sales Marketing & Sales People Raw Materials 60$/500g Sale of coating People Repair Marketing & Sales Warranty Sales Service Contract Version 1
- 3. Clients Contacted 1 st Phase 15 Lots of calls… Cirrus, American What did aviation Champion, Aviat, customers teach us? Aircraft, Zenith Aircraft Kits, Value Proposition – American Spruce, 3M TexCone can increase More targeted calls… survivability of flight into NuSil icing conditions LancAir Cirrus Aviation Customer Segments -- Bell Helicopter Add Kit manufacturers Private Aircraft Kit Builders Navair 3
- 4. 1. Production 1. Durability Eliminate ice Personal 2. Testing 2. Adhesion Interaction Aviation Build-up Marketing Immediate Experimental Plastic Environmental 24*7 General Replicators Biz Com Attention Commercial Aircraft Manufactures NASA Industrial Contacts IP Direct Sales Marketing & Sales People Raw Materials 60$/500g Sale of coating People Repair Marketing & Sales Warranty Sales Service Contract Version 2
- 5. Clients Contacted 2nd Phase 8 Boeing Coatings What did aviation Cessna customers teach us? CIT Gap Funds Value Proposition – Experimental Aircraft Same TexCone can Builders General Aviation increase Survivability of Pilots flight into icing conditions NASA – willing to test Customer Segments -- Add experimental aircraft manufacturers 5
- 6. 1. Production 1. Durability Eliminate ice Personal Aviation 2. Testing 2. Adhesion Build-up Interaction Experimental Marketing Immediate General Plastic Environmental 24*7 Commercial Replicators Biz Com Attention Aircraft NASA Manufactures Industrial IP Direct Sales Contacts Marketing & Sales People Raw Materials 60$/500g Sale of coating People Repair Marketing & Sales Warranty Sales Service Contract Version 3
- 7. Clients Contacted 3rd Phase 5 Cirrus Aviation What did these Experimental Aircraft customers teach us? Builders • There is a Market for superhydophobic Competition/Partner - coatings. Superhydrophobiccoatin • Cirrus is very interested. g.com • Experimental Aircraft Manufacturers easier to penetrate. • Potential for distribution 7
- 8. 1. Production 1. Durability ‘Durable and Personal Aviation 2. Testing 2. Adhesion cost effective Interaction Experimental Marketing prevention of Immediate General Plastic Environmental ice build up' 24*7 Commercial Replicators Biz Com Attention NASA Aircraft Antennas Manufactures Others TBD Industrial IP Direct Sales Contacts Marketing & TBD Financial Sales Investors People Raw Materials 60$/500g Sale of coating People Repair Marketing & Sales Version 4
- 9. 1. Production 1. Durability ‘Durable and Personal Aviation 2. Testing 2. Adhesion cost effective Interaction Experimental Marketing prevention of Immediate General Plastic Environmental ice build up' 24*7 Commercial Replicators Biz Com Attention NASA Aircraft Antennas Manufactures Others TBD Industrial IP Direct Sales Contacts People TBD Financial Investors Raw Materials $8 1m2 Sale of coating People Repair Marketing & Sales Version 6
- 10. Clients Contacted 4th Phase New Client Focus 6 Antenna Segment What did these concentration customers teach us? Pro Brand Inc. – Partner Partnering will help get us through the initial – will supply resources stage from the lab to for testing manufactured solution. – They have ICE Salt/Slurry, UV, and EM test facilities 10
- 11. Market Segments & Size Commercial Aviation $250M General Aviation $50M Market Size Experimental Aircraft $10M Antenna $5M Our Ability to Capture
- 12. What were the lessons • Be specific……. learned? • Cold calling can be fun….exhilarating • NSF I-Corps program, Intense….but accomplished a lot. • Learned Business canvas methodology • Working with our team – Priceless, each member brought something different • Learned a new language – Entrepreneurship • How to accept criticism, not all constructive • Established large network, fellows and mentors • Customer input by getting out of the building • Market for our technology 12
- 13. Is this a viable business? • YES….with lots more work • Need investment to increase pace • Potential niche identified • Good Collaborative Opportunity (PBI) • Sweat Equity 13
- 14. What are we going to do next? Will we pursue after this? • YES, this is a central topic for the PI’s dissertation • Preparation of Road Map for the technology and product • Focus on manufacture at a large scale • Obtain long-term reliability data • Continue with customer interaction • CIT - Proposal submitted, cost shared by UVA • SBIR – Next round • Technology will continue to be refined • Partner – PBI, testing, agreement, investment - Freudenberg, NDA requested 14
- 15. Backup Slides 15
- 16. Marketing Plan •Web Site - Already up - IndustrialFluence.com •FAQSheet – Done, sent to Boeing •Market Research - Direct •General Aviation •Calls with Cirrus, Cessna, ongoing dialog •Experimental •Several calls with enthusiasts •Joined EAA •Investigating Advertising in EAA publication •PowerPoint pitch – Sent to Boeing and Arch Ventures
- 17. Archetype/Persona – Experimental Aircraft Builder • Salary $80K+ • Engineer, Doctor, Lawyer • Mid 40’s-60’s • Particular • Very Technical • Decision Makers 17
- 18. Payment Flows Aircraft Materials $100/m2 Manufacturer supplier $8/m2 Aircraft users TexCone & builder Corporation $100/m2 $1/m2 Microtexture Antenna stamper $5 - $50/Dish Satellite Dish
- 19. Distribution Channel Aircraft Materials Manufacturer supplier TexCone Corporation Microtexture Aircraft users stamper & builder
- 20. Where would the money come from? Revenue Model Choice Channel Web Physical Bits Product Direct Sales Product Physical General Aviation Commercial EAA / Antenna Licensing
- 21. Market Size Total Aviation – General & Commercial $250M Serviceable Aviation – General & Commercial $20M Target EAA & Antenna ~ $5M - Bridge 21