Entrepreneurship
To prove the commercial potential of our product, we have done the surveys, PMR research, cost-benefit analysis, a SWOT analysis, and created a business model. We have visited our potential customers practically to understand whether they have really suffered from the problem which we were trying to solved. Then, we evaluated the profitability of our product by estimating the total cost, total revenue, gross margin, and the rate of Return On Investment. Through a SWOT analysis, we understood our product’s strengths, weaknesses, opportunities and treats. After learning the features and competitive advantage of our product more clearly, we created our own business model to a plan for the successful operation of our business, identifying sources of revenue, the intended customer base, products, and details of financing. Finally, in order to found our first pot of gold, we held a fundraiser's sessions not only to promote our product but also to build social network. (Like the following picture).
Who are we?
Located in southern Taiwan, a group of students from Chung Cheng University, with enthusiasm, hope to change the status quo of determination, try to use the problem to help solve the community, we are CCU iGEM Team. From four different institutions, seven different departments, hoping to develop through their own to detect the risk of tooth decay instrument –Carindex
What are we trying to do?
The team is currently developing saliva as a body for dental products - Carindex.
According to statistics, the Taiwanese after adulthood, there are eighty percent of the opportunity to suffer from dental caries, but according to the current medical technology, preoperative detection of dental caries and oral risk assessment and not a complete system.
Therefore, the team wanted to detect the concentration of Lactobacillus and Streptococcus mutans through the device and analyze the process of oral dental caries, and then through the biological data and machine learning to assess the risk of suffering from dental caries to achieve the warning function.
What are we going to get it done?
- a SWOT analysis
To find our strengths and weaknesses, opportunities and threats we face, we use a business SWOT analysis. It can carry out for our product and specify our goal includes the internal and external factors. Besides, it is also a way to realize and help us build a successful selling strategy in the future.
- Business model
A business model which consists of value proposition, customer segment, key partners, cost structure and revenue stream describes the rationale of how an organization create value in economic or other contexts. It’s also a part of the process of building business strategy.
- Description of Customer Segments
It relies on identifying key differentiators that divide customers into groups that can be targeted.
- Description of Value Proposition
It is a way to summarize why consumers should buy our product. It also consists of the belief from the customer.( Like how this product’s value and benefit will be delivered.)
- Description of cost structure and revenue streams
To make our business keep working, the cost structure and revenue streams we discover will help us to achieve the purpose. It’s also very important to assess the future blueprint about the product and provide a very visual map of our business.
- Description of costumer relationship－Risk Analysis
To improve business relationships with customers and ultimately keep sales smoothly, finding a way to make customer retention is very important. About this part, we try to use the Risk Analysis to prevent the unexpected situation that might happen when using product, so that we can keep the customer satisfaction.
- Michael Porter's Five Forces Model
It can help us assess our attractiveness and competitiveness for customer, competitors and suppliers.
- Patent application
- Gantt Chart for the future plan
In the future, we will try to raise brand value and improve the quality of our products. About this part, we use Gantt Chart to make a future blueprint about our product and business.
a SWOT analysis
| Strengths | Weaknesses |
|---|---|
| 1. Using machine learning can determine the accuracy of the results 2. The process and the way to use is very simple 3. The effect of rapid, can be informed in advance of the oral health situation 4. Easy to carry 5. It can be used at any time, no need to clinics or hospitals 6. It can help user found in the early tooth decay, reducing the user's need for dental care |
1. It can only be detected for tooth decay, and can not be used for other common oral diseases with the test (ex. Periodontal disease, oral cancer) 2. Need to collect a large amount of data for the data base otherwise the product test results will be inaccurate 3. It has not yet applied for patent protection 4. The brand awareness is low |
| Opportunities | Threats |
| 1. Taiwan people for the awareness of oral health gradually rise, and willing to spend more on it 2. It is currently no competitor in Taiwan 3. It can reduce the waste of medical resources 4. Some countries have expensive medical expenses, and this product can save their expenses in dental care 5. The synthesis biology of the relevant applications for the future trendy |
1. There are a variety of ways of tooth decay, this practice is not unique 2. There are health insurance systems in Taiwan, and the community has no need for medical-related products 3. Mainland China has launched in May this year to detect plaque, dental calculus, tooth decay and periodontal disease home products |
