Bright Photomedicine Columbia

Development of portable device for pain relief without side effects

Team:Marcelo SousaCaroline Arede

Interviews since last class: 11Total # of interviews: 54

Key partners

Selling partners• Research centers• Hospitals• Pharmacies• Doctors• Nurses• Physical therapists• Clinics• Insurance companies

Suppliers• Maker spaces• Electronics companies• Engineers• Designers• Plastic materials

Key activities

• Software development• Hardware

development• Clinical test• Hardware

manufacturing• Sales• Distribution

Value propositions

Hospitals• Fewer patients

occupying rooms

Insurance companies• Fewer hospital costs

Patients• Effective pain

treatment• Pain treatment

without:• Collateral

effects• Addiction• Hospital visits• Surgeries

Clinics• ?Physical therapists• ?Doctors• ?

Customer relationships

• Adds• Support team• Workshops

Customer segments

• Hospitals• Insurance companies• Patients• Clinics• Physical therapists• Doctors

Key resources

• Human resources• Network• Intellectual property• Financial

Channels

Hardware• Retail• Internet• Sales team

Online treatment• Internet• AppTreatment development• Sales agent

Cost structure

• People• Intellectual property• FDA• Prototyping

• Production

• Marketing

Revenue streams

• Direct sale• Renting• Consulting• Licensing

Day 0 - Business Model Canvas

Silicon suppliers

Electronics suppliers

Distributor

Internet

Drugstores

1st Vision of the Product Flow

Testing and Iterations

Key partners



Key activities




Value propositions


occupying rooms









Customer segments


Key resources


Channels



Cost structure


• Production

• Marketing

Revenue streams


Day 1 - Customer Segments & Value Proposition

Too many value propositions

These value propositions would require different products

Key partners



Key activities




Value propositions


occupying rooms









Customer segments


Key resources


Channels



Cost structure


• Production

• Marketing

Revenue streams


Day 1 - Customer Segments & Value Proposition

Too many segments

We would sell different products for different customers through different channels

Key partners



Key activities




Value propositions


occupying rooms









Customer segments


Key resources


Channels



Cost structure


• Production

• Marketing

Revenue streams


Days 2 & 3 - “Left side of the canvas”

Turns out some partners were actually saboteurs

Surgeons want to make surgeries, while hospitals and clinics want to have the equipment for themselves to sell

Key partners



Key activities




Value propositions


occupying rooms









Customer segments


Key resources


Channels



Cost structure


• Production

• Marketing

Revenue streams



Regulation in the USA is different

There is a long process to get the required approvals

Key partners



Key activities




Value propositions


occupying rooms









Customer segments


Key resources


Channels



Cost structure


• Production

• Marketing

Revenue streams



Regulation in the USA is different

To enter the market, we still need the patent and FDA approval

Key partners



Key activities




Value propositions


occupying rooms









Customer segments


Key resources


Channels



Cost structure


• Production

• Marketing

Revenue streams



During the interviews, we found some new costs

In the US, the company pays for the clinical trials. There is also significant distribution costs

Key partners



Key activities




Value propositions


occupying rooms









Customer segments


Key resources


Channels



Cost structure


• Production

• Marketing

Revenue streams


Days 4 - Channels, Cust. Relationships & Revenues

Similar devices are not sold in regular retail stores

People usually go to specialized stores or internet to get them

Key partners



Key activities




Value propositions


occupying rooms









Customer segments


Key resources


Channels



Cost structure


• Production

• Marketing

Revenue streams


Days 4 - Channels, Cust. Relationships & RevenuesMedical devices require more than adds

Customers will only rely on the product if they see science behind it

Key partners



Key activities




Value propositions


occupying rooms









Customer segments


Key resources


Channels



Cost structure


• Production

• Marketing

Revenue streams


Days 4 - Channels, Cust. Relationships & Revenues

Direct sales are too expensive and would only make sense for few big clients

Patients buy similar products online, while physical therapists usually rent it

Results So Far

Key partners Key activities Value propositions Customer relationships Customer segments

Key resources Channels

Cost structure Revenue streams

Day 5 - Business Model Canvas

Selling partners• Research center• Pharmacies• Clinical doctors• Physical

therapists• Insurance

companies• Distributors• Surgeons• Nurses• Hospitals• Clinics

Suppliers• Maker spaces• Electronics

companies• Engineers• Designers• Plastic materials

• Get patent in US• Get FDA approval• Get methodology

patent• Software develop.• Hardware develop.• Clinical test• Hardware manufac.• Sales• Distribution

• Human resources

• Network• Intellectual

property• Financial• Licences to sell

• People• IP• FDA• Prototyping

• Production• Marketing• Clinical trial in

US• Distribution• Lawyers

• Adds• Support team• Website• Healthcare

content• Messages in App• Workshops

Hardware• Retail: specialized

stores• Internet• Sales teamOnline treatment• Internet• AppTreatment develop.• Sales agent

• Hospitals

• Insurance companies

• Patients with specific pain

• Patients in labor

• Clinics

• Physical therapists

• Doctors• Surgeons

• Companies

• Fewer patients occupying rooms

• Less spending with patients

• Effective pain treatment

• No side effects• Less hospital

visits• Not invasive• Less time spent• No medicine• Personalization

• Revenue from therapy sessions

• Less employees’ absence

• Consulting• Direct sale

• Renting

• E-commerce• Licensing• Direct sales

Silicon suppliers

Electronics suppliers

Market Places

Current Vision of the Product Flow

US Regulations

!

Bright scientific background & Content

30% of sales

$$$

0.7*$$

$$

What We Are Going To Do Next

Key partners Key activities Value propositions Customer relationships Customer segments

Key resources Channels

Cost structure Revenue streams

Next Steps

Conclude clinical

trial in Brazil Create blog for healthcare discussions and Bright’s content presentation

Launch landing page for potential acquisitions

Interview

hospitals in Brazil

Interview

insurance

companies in

Brazil Register IP

File for FDA

registration

Fundraise

Education

Bright Photomedicine Columbia