LighTip NSF FInal Presentation

The shape of light to come…

™

http://youtu.be/wDrrZdFa6ZA

• WHERE WE STARTED: A custom optics design and manufacturing company specializing in creating directional light devices to support the photo-medical market.

• NOW:We are an optics design company centered on light shaping, nonimaging applications and freeform optical components and subsystems.

2

™

Total contacts since 3/20: 106

5/23/2012

$10M opportunity

$500M opportunity

™

Good lighting often requires more sophisticated designs

Conventional symmetric floodlighting Asymmetric floodlighting

Bad lighting Good lighting

3

P. R. Boyce – LRI – Rensselaer Polytechnic Institute

45/23/2012

Market Size

Total Addressable

Market --Worldwide$50 BillionAnnually Served

Available Market$15 Billion

Target Market$0.5 B

$25B - lighting $25B - medical optical systems

Based on Photonics 21 “Leverage Effect” Final Report March 2011

Page 26

Primarily European and N & S American markets

™

5

Jannick Rolland(PI)

Cristina Canavesi(EL)

Mike Riedlinger(Mentor)

5/23/2012

Team Members

PhD candidate in Optics

Technology entrepreneurDirector of Rochester Bioventure Center

Chair Professor of Optics and Biomedical Engineering

™

VALUE PROPOSITIONS

CHANNELS

CUSTOMERRELATIONSHIPS

CUSTOMERSEGMENTS

REVENUE

STREAMS

COST

STRUCTURE

KEY PARTNERS

KEY RESOURCES

KEY ACTIVITIES

www.businessmodelgeneration.com

Doctors:More effective treatment; easy procedure

Laser manufacturer

Drug companies

EngineeringManufacturingRegulatoryIP

Injection molding

Engineering/ development

Individual doctorsDermatology officeHospital

OEM distributor

Dermatology:Pre-cancerCancerCosmetic

Oral cancer

Veterinary

Disposable with high margin

Source sale?

Training?

Doctors ? – early adopters

Patients:More effective treatment; minimum discomfort; excellent cosmetic outcome

Hospital/Office:New treatment options; increased profitability

OEM:Reliable partner that sustains engineering issues throughout product life-cycle

3/20 Canvas v1.0™

Here’s what we did…First key interviews at Stanford and in San Francisco; more lessons learned during the following weeks…

5/23/2012OEM distributor

Injection moldingEngineering/

development

75/23/2012

• Photodynamic therapy (PDT) is still in the early stages for cancer treatment.

• There are other customer segments that make a much larger market in which custom illumination solutions are needed.

• … so we pivoted.

Here’s what we found™

VALUE PROPOSITIONS

CHANNELS


CUSTOMERSEGMENTS

REVENUE

STREAMS

COST

STRUCTURE

KEY PARTNERS

KEY RESOURCES

KEY ACTIVITIES


™

Medical Device OEMs with requirements for advanced optical components

Optical system firms that lack advanced optical design capability

Advanced optics design, simulation, and engineering software and computers

Trained optics engineers

Optical materials providers

Specialty injection molders for optic components

Specialist machine shops for rapid prototyping of optics

Precision optical manufacturers

Labor costs (trained optical design engineers)Computers, software, other equipmentPrototyping and production costs

Alliances with medical device integrators& Direct for optical systems firms

Highly consultative and “co-creative” using reference kits for LighTip™ proprietary products

Development of “reference kits” based on proprietary LighTip™ technology

Problem solving and design to meet customer specified needs

Rapid design of prototype medical devices that need advanced illumination technology

Reduced time-to-market for new optical products via “Design for manufacturing” and “reference kit” approach

Design risk reduction for optical systems firms that need advanced illumination system components

4/11 Canvas v2.0

5/23/2012

Design engineering fees Reference design “kits”Component and subsystem unit salesRoyalties from manufactures (in some cases)

VALUE PROPOSITIONS

CHANNELS


CUSTOMERSEGMENTS

REVENUE

STREAMS

COST

STRUCTURE

KEY PARTNERS

KEY RESOURCES

KEY ACTIVITIES


™


















4/11 Canvas v2.0

5/23/2012

Customer Segments & Value Prop Hypothesis: Our customers lack expertise in illumination design. We provide innovation and rapid problem solving.Customer Segments & Value Prop Test: Talked to potential customers in medical and lighting industry.

Key Partners & Revenue Streams Hypothesis: Manufacturers are willing to provide royalties if LighTip™ brings them customers. Key Partners & Revenue Streams Test: Talked to potential partners in optical manufacturing.

VALUE PROPOSITIONS

CHANNELS


CUSTOMERSEGMENTS

REVENUE

STREAMS

COST

STRUCTURE

KEY PARTNERS

KEY RESOURCES

KEY ACTIVITIES


™

Firms that lack advanced illumination/optical design capability

•LED based fixtures integrators for lighting

•Medical device developers

•Sustainable energy architects

Advanced optics design, & engineering software & computers

Trained optical and mechanical engineers; industrial designers; manufacturing engineers





Light source manufacturers

Design engineering contractsComponent and subsystem unit salesCommission from manufactures

Labor costs (trained engineers)Computers, software, other equipmentPrototyping and production costs



Rapid design of prototype and reduced time to market for innovative devices that need advanced illumination technology via co-creative design

Cost reduction with redesign of existing products


Final Canvas

5/23/2012

Development of a catalog of products

Customer Archetype

11

™

5/23/2012

CTO

• CTO for an LED lighting company• Electrical engineering background• Focused on thermal management and

electrical components of the LED fixture• Little or no background in optics• Needs to design optics for a new product• Expects us to interact with manufacturers

Jonathan, CTOEphesus Technologies

Roger, CTOEnergy Focus

Customer Workflow

12

™

5/23/2012

Phase I:Design

Phase II:Prototyping

Phase III:Manufacturing

Phase IV:Final Product

6-8 weeks 3-4 weeks 8-12 weeks 3-4 weeks

CTO

Quantity purchase of components for prototype

& mass production .

Revenue Model & Payment Flows

13

LighTip™ Advanced Illumination Engineering

™

Reflector

Desired target

Light source

Customer:LED company

Key Partner:Optical Manufacturer

Customer’s final product

Our deliverabl

ePrototype & High Volume Production (0.25%-8% commission)

Engineering contract ($150-300/hour)

5/23/2012

Competitive Players

14

™

5/23/2012

Off-the-Shelf Component Firms

Custom Engineering Firms/Contractors

Specialty Optics Integrators

Doctors:More effective treatment; easy procedure

Laser manufacturer

Drug companies


Injection molding



OEM distributor

Dermatology:Pre-cancerCancerCosmetic

Oral cancer

Veterinary


Source sale?

Training?


Patients:More effective treatment; minimum discomfort; excellent cosmetic outcome

Hospital/Office:New treatment options; increased profitability

OEM:Reliable partner that sustains engineering issues throughout product life-cycle

3/20/2012

3/20 Canvas™

OEM distributor

Injection moldingEngineering/

development


VALUE PROPOSITIONS

CHANNELS


CUSTOMERSEGMENTS

REVENUE

STREAMS

COST

STRUCTURE

KEY PARTNERS

KEY RESOURCES

KEY ACTIVITIES

VALUE PROPOSITIONS

CHANNELS


CUSTOMERSEGMENTS

REVENUE

STREAMS

COST

STRUCTURE

KEY PARTNERS

KEY RESOURCES

KEY ACTIVITIES

For Doctors:As or More effective, faster, and specific treatment; easy procedure

Laser manufacturer

Drug companies


Injection molding


For Patients:As or more effective treatment; less discomfort; excellent cosmetic outcome

For Hospital/Office:New treatment options; increased profitability


OEM distributor

DermatologyPracticePre-cancerCancerCosmetic

Dentist Offices

Oral CancerPractice

Veterinary Practice


Tip + Source sale?Tip + Diagnostics device?Training?


For OEM:Reliable partner that sustains engineering issues throughout product life-cycle

Injection molding

OEM distributor

UV Curing

3/22/2012

3/22 Canvas™


VALUE PROPOSITIONS

CHANNELS


CUSTOMERSEGMENTS

REVENUE

STREAMS

COST

STRUCTURE

KEY PARTNERS

KEY RESOURCES

KEY ACTIVITIES


For Doctors:As or more effective, faster, and specific treatment; for deeper lesions

Laser manufacturer

Drug companies


Injection molding


For Patients:As or more effective treatment; for deeper lesions; less discomfort; excellent cosmetic outcomeFor Hospital/Office:New complete treatment options; increased profitability


OEM distributor


Dentist Offices

Veterinary Practice




For OEM:Reliable partner that sustains engineering issues throughout product life-cycle

3/28/2012

Injection molding

OEM distributor

UV Curing

™

Drug company distributor

Drug company distributor

3/28 Canvas

VALUE PROPOSITIONS

CHANNELS


CUSTOMERSEGMENTS

REVENUE

STREAMS

COST

STRUCTURE

KEY PARTNERS

KEY RESOURCES

KEY ACTIVITIES


For Doctors:As or more effective, faster, and specific treatment; for deeper lesions

Laser manufacturer

Drug companies

Illumination designEngineeringManufacturingRegulatoryIPMarketing

Injection molding


For Patients:As or more effective treatment; for deeper lesions; less discomfort; excellent cosmetic outcomeFor Hospital/Office:New complete treatment options for cancer; increased profitability


OEM distributor





4/4/2012

Injection molding

OEM distributor

™

Drug company distributordirect sales

CUSTOMER DISCOVERY(non medical)

Solar collection

Bioreactors

Night lamp

Jewelry/art

Drug company distributordirect sales

4/4 Canvas

VALUE PROPOSITIONS

CHANNELS


CUSTOMERSEGMENTS

REVENUE

STREAMS

COST

STRUCTURE

KEY PARTNERS

KEY RESOURCES

KEY ACTIVITIES

www.businessmodelgeneration.com4/11/2012

™


















4/11 Canvas

VALUE PROPOSITIONS

CHANNELS


CUSTOMERSEGMENTS

REVENUE

STREAMS

COST

STRUCTURE

KEY PARTNERS

KEY RESOURCES

KEY ACTIVITIES


™


Trained optical and mechanical engineers, industrial designers






Design engineering fees Reference design “kits”Component and subsystem unit salesRoyalties from manufactures






Rapid design of prototype and reduced time to market for innovative medical devices that need advanced illumination technology via “reference kit” approach and co-creative design



4/18 Canvas

VALUE PROPOSITIONS

CHANNELS


CUSTOMERSEGMENTS

REVENUE

STREAMS

COST

STRUCTURE

KEY PARTNERS

KEY RESOURCES

KEY ACTIVITIES


™

Medical Device OEMs and suppliers with requirements for advanced optical components










4/25 Canvas

VALUE PROPOSITIONS

CHANNELS


CUSTOMERSEGMENTS

REVENUE

STREAMS

COST

STRUCTURE

KEY PARTNERS

KEY RESOURCES

KEY ACTIVITIES


™


•LED based fixtures integrators for lighting

•Medical device developers

•Sustainable energy architects








Design engineering contractsComponent and subsystem unit salesCommission from manufactures

Labor costs (trained engineers)Computers, software, other equipmentPrototyping and production costs



Rapid design of prototype and reduced time to market for innovative devices that need advanced illumination technology via co-creative design



Final Canvas

5/23/2012

Development of a catalog of products

Education

LighTip NSF FInal Presentation