1. 1. May 23, 2012http://youtu.be/2X_XDEK0IIkLED LIGHTING PRODUCTS Brighter, lower cost, tunable spectrum Jon PC Norm MikeMaxMapelKuRapino ForbisShtein ELPIIM92 interviews/conversations
2. 2. TeamJon Mapel (EL): optics specialistMike Forbis: program management, engineeringP.C. Ku (PI): semiconductor optoelectronic devicesMax Shtein: organic semiconductorsNorm Rapino (Mentor): seasoned entrepreneur, tech transfer 2
3. 3. TechnologyBlue LED + Waveguide+Fluorescent Dyes = Prototype Blue Light translated to White LightMove Light Over Distances Tunable Light SpectrumHigher EfficiencyLower Cost Materials3
4. 4. Original Idea: LED Linear BulbsDouble the Brightness The $30B opportunity4
5. 5. Linear Lighting Market Size5
6. 6. Original Canvas6
7. 7. Investigating the Original IdeaSeeking the customerHypothesis TestedPrice point to replace fluorescents with LEDS without turning down the lights7
8. 8. Lessons LearnedJulia, Building ManagerDimmer is the whole point March 23, 2012Commercial interiors are overlit- Existing products turn down the lights- Our value proposition is toast.Main pain point is expensive products- Higher quality is a nice to have 8
9. 9. Further Investigating the Original IdeaSeeking the customer Idealized products are defined before they existGroups like DesignLights and Energy Star use product branding/recognition to create market pull for early adoptersHypotheses Tested:Higher lumens per Watt efficiency will sway strategic customers9
10. 10. More Lessons LearnedFEMP & utilities will pay a premium- Government: 40 year payback is okay- Utilities: 5 year payback is requiredDistributors want certified product- Energy Star label moves product High Low cost performanceInstead of brightness or cost, how about color?10
11. 11. Rediscover the Value PropositionsPreviously, we combined remote light delivery and color control into a specificform factor (T8). These value propositions can be either decoupled or repackaged. 11
12. 12. Pivot: Go where color mattersFirst Week of AprilMuseum LightingHorticulture Lighting 12
13. 13. New Canvas Museum Lighting 13
14. 14. Investigating Museum LightingSeeking the customer Museums: curators, facility managers, lighting consultants Architecture firmsHypotheses Tested1. Who is the Customer? Lighting consultants specify museum lighting2. What does the Customer want? Museums want high CRI, low CCT, energy efficient bulbs 14
15. 15. Testing the Value PropositionFramingWe currently attach tin foil or whatever can findto frame a painting.Color RenderingOil paintings, water paintings, drawings,sculptures, and pottery all respond differently tolight color. - Susan Hargrove, Toledo Museum 15
16. 16. Industry Structure Purchased IndependentlyPreparatorFacilities Manager Fixture, $100 Halogen PAR38, $12Lighting DesignerLED PAR38, $50 FiltersOptics Diffusers16
17. 17. Market OpportunityCommercial PAR38Halogen30M Bulbs$0.46B SalesPAR38 USA MARKET90M BulbsWhy our bulb?$1.4B Sales1. LED more efficient than Halogen2. Spectrum tunable bulb3. Integrated optics 17
18. 18. Current Canvas 18
19. 19. SummaryStarted Here Ended HereCommercial Linear LEDColor tunable lighting solutionsHigh Brightness LED Solution$10B MarketMuseum Lighting: PAR38, MR16 $500M Market $50/bulb Integrated Controls Horticulture Lighting: Tunable spectrum $300M market19