Final Pitch Deck.pptx
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Transcript of Final Pitch Deck.pptx
ViFlexBetter Glasses for Developing Countries
Yitaek Hwang – B.S.E. ECE/BME dual degree Pratt 2016 Nick Lockett – B.S.E. ECE/CS dual degree Pratt 2018Nathan Brajer – M.D. Candidate, Duke University School of Medicine 2018
Problem
1 optometrist for 1,000,000 people
703 Million people need glasses
35% productivity, 20% income
Do-It-Yourself
Customized for each individual at the point of saleLow cost glasses for both near and distance vision
Low Cost Parts
Solution
Long Term Value
Competitive Advantage
Low Cost
Style
Adjustable Lense Powers
Distance Vision Lenses
No Need for Optometrist
Easy Distribution
Adlens Eyejusters 1 Dollar Glasses
LuxotticaEssilor
How We WorkViFlex
Manufacture
Ship to NGOsKits: Frames, Pre-manufactured Lenses
Local Assembly and Deployment
Funding Strategy
$37,000 funding to date
Need $10,000 Social Impact Investment______________________
• 4k - Mold for Arm Manufacturing• 3k - Build Inventory (5,000)• 2k - Customer Acquisition &
Marketing
_______________________
Apr 2014--$15,000 WashU Engineering Discovery Competition
Oct 2014--$10,000 WashU Global Impact Award
March 2014--$5,000 Indiegogo Campaign
April 2014--$2,000 Duke Office of Civic Engagement
May 2014--$5,000 Duke Startup Challenge Summer Stipend
Sales and Projections
Year: 2016 2017 2018
Sales 5000 20000 50000
Revenue $35000 $140000 $350000
- Cost of Frames
$5785 $23140 $57850
- Cost of Shipping
$6000 $24000 $60000
- Cost of Lenses
$5000 $20000 $50000
Gross Profit: $18215 $72860 $182150
Initial Sales: • $7 per pair of reading glasses• $4.80 margin per pair
----------------------------------- $18,215 expected profit
from initial 5,000 inventory
Projections:
Team: Student-led, Student-run
Nathan BrajerCo-founder
Yitaek HwangCEO
Nick LockettCOO
Evan MadillCo-founder
15 Member Team
13 Undergraduate Engineers
2 Medical Students
Next Steps
OctoberReceive first injection molded frames
NovemberFill first large scale orders
DecemberYitaek travels to Nepal
SpringExpand NGO customer base