a non-invasive portable glucose monitor using near ... · a non-invasive portable glucose monitor...
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AnjaliDasKevinLyMohanika Gowda Shivani Shah
A non-invasive portable glucose monitor
using near-infrared spectroscopy
10% MARKET SHARE
Executive Summary
26million diabetics in the US79million in the prediabetic stage in the US285million adults worldwide with diabetes
Significance and Market Analysis
Significance and Market AnalysisCompetition
Proposed plan
ReliabilityReliability
SatisfactionSatisfaction
TeamworkTeamwork
EaseofUseEaseofUse“Ourmissionisto
manufacturesafeandreliable,easytouseglucosemonitoring
products.“
Our Company
BOARDOFDIRECTORS
CorporateTechnicalDirector
CorporateTechnicalDirector
DirectorofHumanResources
DirectorofHumanResourcesManufacturingDepartmentManufacturingDepartment
DepartmentofIntellectualDesignandResearch
DepartmentofIntellectualDesignandResearch
DirectionofCorporateBusinessDevelopmentDirectionofCorporateBusinessDevelopment
DepartmentofStrategicCommunications
DepartmentofStrategicCommunications
SalesDepartmentSalesDepartment
CorporateInfrastructureCorporateInfrastructure
DepartmentofBudgetingDepartmentofBudgeting
OfficeofRiskManagementOfficeofRiskManagement
CORPORATEMANAGEMENT
Chairman:Dr.DhawanChairman:Dr.Dhawan
ExecutiveManagementTeam
ExecutiveManagementTeam ConsultantsConsultants External
AdvisoryBoardExternal
AdvisoryBoardPresident/CEOShivani ShahPresident/CEOShivani Shah
ChiefResearch,Sales,Marketing,TechnicalSupportOfficer:KevinLy
ChiefResearch,Sales,Marketing,TechnicalSupportOfficer:KevinLy
ChiefOperationsOfficer:Mohanika Gowda
ChiefOperationsOfficer:Mohanika Gowda
ChiefFinanceOfficer:AnjaliDas
ChiefFinanceOfficer:AnjaliDas
DivisionalOperationalManagers
DivisionalOperationalManagers
CorporatePurchasingDirector
CorporatePurchasingDirector
DivisionalITandSoftwareDevelopmentManagersDivisionalITandSoftwareDevelopmentManagers
DivisionalEngineeringManagers
DivisionalEngineeringManagers
FieldTechnicalServiceFieldTechnicalService
CorporateComptrollerCorporateComptroller
Business Management Plan
Gantt and Milestones
Obtain financing through IDS & Summer Research Provost AwardComplete Business and Technical Plans
Identify glucose fingerprint spectraHardware prototype developmentSoftware prototype developmentMonitor Progress with EAB Review
Initiate Patenting and Securitization of Intellectual Property ProcessPrototype EvaluationInitiate testing of prototype Monitor Progress with EAB Review
Model and Design Software testingMonitor Progress with EAB Review
Refinement of designMonitor Progress with EAB ReviewOrganization/Planning of Manufacturing
Finalize contracts with 3 channels/vendorsDevelop infrastructure for Production
Research other applicationsProduction
Achieve Maximum capacity for 5%
2012 2013 2014 2015 2016 2011
RequiredStart‐UpFunds Amount TotalsFixedAssets
RealEstate‐Land $‐Buildings ‐LeaseholdImprovements $15,000Equipment $10,000FurnitureandFixtures $10,000Vehicles $30,000OtherFixedAssets $5,000
TotalFixedAssets $70,000
OperatingCapitalPre‐OpeningSalariesandWages $200,000PrepaidInsurancePremiums $20,200Inventory $1,000LegalandAccountingFees $19,000RentDeposits $8,000UtilityDeposits $300Supplies $2,000AdvertisingandPromotions ‐Licenses ‐OtherInitialStart‐UpCosts $5,000WorkingCapital(CashOnHand) $30,000
TotalOperatingCapital $285,500
TotalRequiredFunds $355,500
Sources of Funding Amount Totals
Owner's Equity 0.00 % -
Outside Investors 56.26 % $ 200,000 Additional Loans or Debt
Commercial Loan 43.74 % $ 155,500
Commercial Mortgage 0.00 % -
Credit Card Debt 0.00 % -
Vehicle Loans 0.00 % -
Other Bank Debt 0.00 % -
Total Sources of Funding 100.00 % $ 355,500
Financial Plan: Start-Up Funds
Financial Plan: Break Even Projections
ProductPricePerUnit $ 1,000.00 100.00%
VariableCostPerUnit $ 400.00 40.00%GrossMarginPerUnit $600.00 60.00%
Year1ofProduction 6,000unitsYear2ofProduction 12,000unitsYear3ofProduction 26,400units
$0
$6,000,000
$729,000
$4,448,311
$0
$1,000,000
$2,000,000
$3,000,000
$4,000,000
$5,000,000
$6,000,000
$7,000,000
1 2 3
Dol
lars
Year
BreakevenbetweenY1‐Y2ofProduction
Sales Cost
Breakeven:$831,915
BreakevenSalesRevenue $831,915.43BreakevenSalesUnits 832
$0
$5,000,000
$10,000,000
$15,000,000
$20,000,000
$25,000,000
$30,000,000
0 2 4 6
Dol
lars
Year
Cost vs Sales Projection
Sales
Cost
GainSummerResearchFunding $2,800ObtainPhase1FundingIdentifyspectralfingerprintforglucoseinbloodDevelopprototypeTestaccuracyofprototypeagainstcurrentglucometers
Phase 1: Project Goals
• SoftwareandProductParameters
• Easeofuse
• Accuracy
• Responsiveness
• Addressingneedsofusers
• Portability
• Durability
• Intuitiveness
• TestsinaccordancewiththeInternationalOrganizationforStandardization(ISO)
• AccuracydeterminedbyClark/ConsensusErrorGridAnalysis
• FocusGrouptestingofsoftwareandproduct
• ClinicalTrialsandFDAapproval
• Determineprogressagainstsetmilestones• SemiannualEvaluationsbyExternalAdvisoryBoard
ProductEvaluation
BusinessEvaluation
Phase 1: Evaluation Plan
$6,000SeedMoneyforPhase1Research$3,000 forequipmentexpenses
–SonyCCDcamera–NIRfilters–GlucoseSolutions
$1,000 for R&DSupplies$2,000forPrototypeManufacturingandotherExpenses
AllothermaterialsandadvicenecessaryprovidedbyIDSprogram,HonorsCollege,and NJIT
Phase 1: IDS Budget
WewouldliketothankDr.Dhawan,Dr.Sava,Dr.Dine,andDr.Bloomforprovidinguswiththeresourcesandtheguidancetomakethispossible.
WewouldalsoliketothankmembersoftheExternalAdvisoryBoardforsharingtheirtimeandexpertisetodayandinearlierguestspeakerarrangementsthissemester.
Acknowledgements
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