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 |
Business model
| Key partners (1) OEM manufacturers of laser cutting (2) OEM manufacturers of assembling and packing of products (3) Dentists (4) Technical development team (5) Principals (6) Teachers |
Key activities (1)Have periodic inspection,and repairment (2)Help children / parents class (explain the way to brush your teeth, the severity of tooth decay) |
Value Proposition Help parents and the school every three months through the instrument, in advance to understand the children dental cavity dental risk situation, if found to have tooth decay can be treated early to reduce unnecessary pain and cost of follow-up. |
Costumer, Relationships (1)Intimate,customer service (2)Free charge for repairing the products (3)Free charge for inspecting,the products |
Customer, Segments Those metropolitan elementary schools in Taiwan |
|---|---|---|---|---|
| Key resources (1) Develop resources (2) Develop technology (3) Product accessories and materials (4) OEM manufacturers |
Channels (1)Telemarketing (2)Word of mouth |
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| Cost Structure (1)Cost of develop resources (2)Cost of mass production includes packing, assembling, and materials (3)Cost of maintenance |
Revenue Streams (1)The cost of rent,the device by the school every year (2)The cost of the,purchase of consumables by the school every year |
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Description of Customer Segments
After the market survey, we found that Taiwan is very concerned about children’s oral health. We also the actually inquired for parents, they told us sometimes children are afraid to see a doctor, so they always go to the dentist till they can’t stand the pain, which might be too late. Additionally, they also told us both parents and schools are conducting three-month dental examinations against cavity.
However, the dentist can help school do the dental checkup only every half a year (or even a year to check once), so the primary schools we
Interviewed corresponded that they are very interested in our product and willing to do business with us in the future. For example, they can use our products as three months initially inspection to realize those students who have cavity, after that, they will inform parents to take their kids to see the dentist and understand the children's oral condition in advance.
According to this result, we have visited those primary schools again. Most of them expressed they are very look forward to cooperating with us in the future.( The results is that 73% of those primary schools we visited are willing to use our product to do the regular dental health examinations for school children in the future. While the other 27% of primary schools which are remote from cities have no intention, the reason is that the children study there are in grandparents rearing and those grandparents do not think doing dental examination every three month is very essential.
Based on those results, we described our target market as “the all Taiwan's national primary school in cities."
(Actually, we have visited eleven primary schools, but not all of them were willing to take a photo. We just got five here)
How are we done to know _______________ (hand book)
1. PMR survey: In the early production of products, we real took to the streets, to understand the real needs of users. We expect that our products can be more in line with the needs of users. Therefore, we conducted a survey through PMR (Persistence Market Research)
Description
