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PMBA6004 Creative and Business Innovation iCare Team KiWi Wireless health monitoring service Lincoln ChanAlan So Chris LamAmy Kwok Winnie LeeYJ Kim
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iCare Team KiWi Introduction (Problem statement) How’s the performance of current market products / services? Can they satisfy all people’s needs? Personal Emergency Link (PE Link) Mobile Link (M Link) They provide a ‘help seeking’ function only! Q: Have you ever experienced the following? I care about our elderly parents but I cannot afford a ’24-hr registered nurse’ to take good care of them. Whenever my baby is sick, I worry about him even when I am working at the office.
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iCare Team KiWi Intended Users, Uses and Featured Functions 1. Family/Guardians ↔ elderly people Real-time physiological information Auto alert system Follow up calls Vibration sensors GPS function 2. Parents ↔ their babies/kids Real-time physiological information Auto alert system 3. Doctors ↔ Family and patients Real-time physiological information Auto alert system Valuable to patients with high blood pressure Prevent Stokes Wirstwatch type Armband type (For babies)
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iCare Team KiWi How it operates? SystemSupervisor User Blood pressure Pulse rate SpO2 Glucose Body temperature Sensor Transmission Terminal Database Web connection Wireless (WiFi / GPRS) Web access Emergent alarm Graphical display Analysis Accuracy Accuracy / PromptnessConveinence
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iCare Team KiWi How it functions? http://kiwi.lincolnchan.com
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iCare Team KiWi How it functions? Demonstration
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iCare Team KiWi Business Model -Financial i)Research and development cost -start our development centre at Science and Technology Parks (get HKSAR Gov's Innovation & Technology Fund ) -we only integrate existing technologies, so our initial budget is around HK$2-3M only ii)Fixed Assets and depreciation -plan to out-source the production lines at early stage, so the budget of our fixed investment will be low which is mainly for computer equipments for call centers
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iCare Team KiWi Business Model (cont’d) -Financial iii)Sales Budget for Elderly 1 st yr: 0 (R & D stage) 2 nd yr: 20,000 users (around 2 % of elderly population in HK) 3 rd yr: 50,000 users (around 5 % of elderly population in HK) 4 th yr: 80,000 users (around 8 % of elderly population in HK) 5 th yr: 100,000 users (around 10 % of elderly population in HK) iv) Gross and net margin -target gross and net margin are 55% and 15% respectively v) Payback period -as of low initial capital investment around HK$3M, the expected payback period is around 3.5 years (1 st yr: R &D, 2 nd yr: launch)
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iCare Team KiWi “Open” Business Model (can increase revenue & decrease costs) ~ create value by leverage more ideas by external concepts & ~u tilizing the resources of own company and other companies as well Government SubsidiesTelecom CompaniesInsurance Companies Approach Get subsidies from HKSAR Gov’t to run our successful product Make use of the already built facilities of Telecom Companies Put the company logo of the Telecom Companies on iCare as advertisement Provide discounted or even free iCare services for those insured Pros Much lower the costs Poor can afford to use Enjoy big promotion Increase our distribution channels Fixed turnover Cons Have many restrictions Difficult to induce Telecom Companies (heavy responsibilities ) Insurance companies may squeeze our profits
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iCare Team KiWi “Open” Business Model (can increase revenue & decrease costs) Sources:http://www.mobilelink.hk/index.php?option=com_content&view=article&id=51&Itemid=60&lang=en -Original prices of purchase and rent is according to the current price of mobile link. -offer “less price more services” in first 3 months promotion period and offer “same price more services” afterwards. PurchaseRent Original Price HK$1,680Original Monthly Rental Fee HK$78 Special Price HK$999Special Monthly Rental Fee HK$58 Monthly Service Fee HK$168 min. services for 6 mths HK$168 min services for 12 mths
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iCare Team KiWi Future Development – iCare @ 2 nd Generation 1st Generation iCare 2nd Generation iCare Authorized supervisor ParentFamily Staff in Elderly home Doctor Insurance Company PoliceDietitian Campsite supervisor User Baby/KidElderlyElderly HomePatientInsuredDriver Fitness lover Mountain Climber Basic Functions 1. Blood pressure xxxxxxxx 2. Pulse rate xxxxxxxx 3. SpO2 measurement xxxxx xx 4. Glucose monitoring xxxxx xx 5. Body temperature xxxxxxxx 6. Microphone & Speaker xxx x 7. Vibration Sensor xxx x Enhanced functions 8. Alcohol consumption level xx 9. Global Positioning System xxx xx x 10. Body water moisture content x 11. Altitude & Pressure sensor x
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