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

ViFlex Design

Interchangeable components Assemble

FrameChoose Lenses

Enjoy New Glasses

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

Validation and Partners

ViFlex Field Tests: 1 year, 8 countries, 4 continents

Next Steps

OctoberReceive first injection molded frames

NovemberFill first large scale orders

DecemberYitaek travels to Nepal

SpringExpand NGO customer base

ViFlex LLC: Impact

A social venture working to increase the accessibility of eyeglasses in developing countries

Multi

Social

EconomicGlobal