savita nyu 2015

Savita Tech

We utilize emerging UV-C LED technology to combat hospital-acquired infections (HAIs), saving lives and reducing healthcare costs.

Jeff Chen, PhDNYU MBA Candidate

David McLaughlinNYU MBA Candidate

Casey Clark, CFANYU MBA Candidate

Total # of Interviews: 49Interviews Since Last Presentation: 9

VALUEPROPOSITIONS

CHANNELS

CUSTOMERRELATIONSHIPS

CUSTOMERSEGMENTS

REVENUE STREAMS COST STRUCTURE

KEYPARTNERS

KEYRESOURCES

KEYACTIVITIES

Day 1 Business Model Canvas

Reduce hospital-acquired infections, saving hospitals lives and millions of dollars per year.

Disinfect more efficiently, allowing for faster turnaround times in operating rooms.

Controlled light source, so patients do not have to leave the room.

Clean technology that does not rely on chemicals.

Marketing & SalesFDA ApprovalSafety approval

Supplier of UVC LED

Manufacturers / subcontractor

Langone Medical Center

Infectious Disease Society of America (ISDA)

American Hospital Corporation

Committee to Reduce Infection Deaths

Association of Professionals of Infection Control and Epidemiology (APIC)

CDC Healthcare Infection Control Practices

Physical product sales, upgrades, service contracts (warranty)

Option: Lower upfront revenue, but receive a percent of the money saved from lower HAIs

Ultraviolet-C LEDs

Intellectual property (patents)

Human resources given its a knowledge-intensive business

Production

Regulatory approvals

Demonstrate effectiveness

Education/training

Dedicated personal assistant

Long-term relationships based on trust

Website

Conferences & tradeshows for hospitals, medical devices, & infection control divisions

Industry publications

Hospitals

Medical cleaning companies

Freestanding, 24-hour ERs

Primary care physicians

R&DAcademic testing to prove effectiveness

Production cost - Ultraviolet-C LEDs

Day 1 Summary

Value proposition We listed “Reduce hospital-acquired infections (HAI), saving hospitals lives and millions of dollars per year” and some features of the product

We didn’t know which type/source of HAIs we should focus on

Customer segment Hospitals, medical cleaning companies, freestanding, 24-hour ERs, primary care physicians

We didn’t know who we were selling our product to

Channels Website; conferences/tradeshows for hospitals, medical devices, infection control divisions; industry publications

We didn’t know the current practice of selling medical devices to hospitals

Revenue ModelPhysical product sales, upgrades, service contracts (warranty), pricing based on cost

No cross/up/continuous selling

What We Learned – Days 2 to 4

Hand hygiene is No. 1 issue in reducing HAIs Infections from catheters and scopes are major concerns for infection-control

professionals WOWs (workstations on wheels) used by nurses are dirty and potential source

of HAIs Biggest problems with UVC LEDs is cost and perceived safety Buying process for medical devices is intricate High risk of human error in disinfection procedures Cell phones used in hospital by staff and visitors are dirty but no evidence they

are source of HAIs Sterilization process for surgical tools is working Medical professional know phones are dirty; consumers often don’t know/care Details of terminal cleaning process Health, safety, comfort of custodial staff cleaning rooms is crucial Monitoring of terminal cleaning is inconsistent and not always effective Hospital staffs take pride in not being on list of hospitals penalized by Medicare

for HAIs

Reduced HAIs

Save lives

Save billions of dollars/yr

Director/Committee Infection Control

Purchasing Committee/CFO

Environmental Services

Director/Committee Infection Control

Purchasing Committee/CFO


Professional achievement

Patient safety

Hospital’s safety reputation

Employee safety

Cost savings/increased profit

Insulation from mistakes

What We Learned – Days 2 to 4Value Proposition

Infection Control

Committee

Eco-Labs

Central Sterile


Executive Administrator

(CFO/CEO)

Purchasing Committee

Group Purchasing

Org. (MedAssets)

Human Resources

Approve Efficacy & Usability Approve Vendor & Budget

What We Learned – Days 2 to 4Purchasing ecosystem for hospital

Savita Tech

Customers

Direct sales5-10% discount

GPO10-50% discount

Distributors 40% discount

Directors of infection control

Infection Control Committee members

Directors of Environmental Services

Hospital administrators

What We Learned – Days 2 to 4Distribution channels

VALUEPROPOSITIONS

CHANNELS


CUSTOMERSEGMENTS


KEYPARTNERS

KEYRESOURCES

KEYACTIVITIES

Reduce HAIs, saving lives and hospitals billions of dollars per year.

Automatic monitoring of disinfecting process

Clean technology, not reliant on chemicals.

Marketing & SalesFDA ApprovalUL Safety approval

Joint Commission


Supplier of UVC LED

Manufacturers / subcontractor

Centers for Disease Control & Prevention



Association of Professionals of Infection Control and Epidemiology (APIC)

American Hospital Association

Physical product sales, upgrades, service contracts


Ultraviolet-C LEDs


Human resources, given this is a knowledge-intensive business

Clinical trials

UL Safety Approval

Production & design

Education/training

Dedicated Personal Assistant


Third Party Distributor

Architecture Design Firms

Website

Conferences for hospitals, medical devices, & infection control divisions


Infection Control Committee / Director of Infection Control

Hospital Admin (COO/CEO)

Environmental Services, Central Sterile, & Eco-Labs


Production cost - Ultraviolet-C LEDsPatents

Medical cleaning companies

Freestanding, 24-hour ERs

Primary care physicians

Hospitals

FDA Approval for “Critical” Devices

EPA Approval for Non-Critical Devices

Germophobes, Women 25-45

Personal Assistant

Self-Service

Website & Retail

Disinfect your cell phone w/o using soap and water

Peace of mind for germophobes

Disinfect rooms more efficiently, allowing for faster turnaround times

Patients do not have to leave the room

Disinfecting reusable “critical” devices more efficiently

Production, design,marketing, UL safety

EPA Approval

FDA Approval

Financial (to make it through FDA approval)

EPA

FDA

Buyer-supplier, optimize economies of scale

Physical product sales


VALUEPROPOSITIONS

CHANNELS


CUSTOMERSEGMENTS


KEYPARTNERS

KEYRESOURCES

KEYACTIVITIES

Reduce HAIs, saving lives and hospitals billions of dollars/yr

Reduce opportunity for human error when cleaning rooms

Reduce infections caused by unsanitized cell phones

Automatic monitoring of disinfecting process


Marketing & SalesEPA & FDA ApprovalUL Safety approval


Supplier of UVC LED

Group Purchasing Organizations (GPOs)

Healthcare Supply Chain Expo

Manufacturers

CDC

Joint Commission



Assoc. of Prof. of Infection Control and Epidemiology (APIC)American Hospital Association

Physical product sales, cross-selling, upgrades, service contractsOption: Lower upfront revenue, but receive a percent of the money saved from lower HAIs

Ultraviolet-C LEDs



Prototyping UL safety Approval

Clinical trial

Production

Education/training



Group Purchasing Orgs

Conferences for hospitals, GPOs, medical devices, & infection control divisions

Website

Architecture Design Firms



Head of Purchasing Committee

Directors of Product Selection Committee at GPOs (e.g., MedAssets)

Directors of Environmental Services, Central Sterile, & Eco-Labs

Other Hospital Admin (CFO/CEO)



HospitalsMedical cleaning CompaniesFreestanding, 24-hour ErsPrimary care physicians


Personal Assistant

Self-Service

Website & Retail

Faster turnaround times


Save lives by disinfecting “critical devices”

EPA approval for non-critical devices

FDA approval for “critical” devices


EPA

FDA

Buyer-supplier, economies of scale




VALUEPROPOSITIONS

CHANNELS


CUSTOMERSEGMENTS


KEYPARTNERS

KEYRESOURCES

KEYACTIVITIES





Supplier of UVC LED


Healthcare Supply Chain Expo

Manufacturers

CDC

Joint Commission



Assoc. of Prof. of Infection Control and Epidemiology (APIC)American Hospital Association

Physical product sales, cross-selling, upgrades, service contractsOption: Lower upfront revenue, but receive a percent of the money saved from lower HAIs

Ultraviolet-C LEDs




Clinical trial

Production

Education/training



GPOs

Direct Selling

Conferences for hospitals, GPOs, medical devices

Website

Architecture design firms



Head of Purchasing


Eco-Labs, Central Sterile




HospitalsMedical cleaning CompaniesFreestanding, 24-hour ErsPrimary care physicians


Personal Assistant

Self-Service

Website & Retail

Faster turnaround times




FDA approval for “critical” devices


EPA

FDA

Buyer-supplier, economies of scale



FDA approval

EPA approval

Environmental services


Reduce opportunity for human error in cleaningrooms

Status for doctors, hospital execs from reducing HAIs


Here’s Where We Ended

The long-term goal is to produce FDA approved products that reduce HAIs. We will solve the following problems:

• Inadequate hand hygiene: UVC LED light that shines on hands after washing (pivot)

• Catheter-related infections: UVC LED ring around the point of insertion (pivot)• Reduce human error in the terminal cleaning process: Develop a fixture on

the ceiling that will zap high touch areas Over the near-term, we will create products that need EPA approval, allowing us to enter the market quickly. We will solve the following problems:

• Infections spreading via visitor and patient cell phones: Install equipment at the entrance of high risk rooms which disinfects phones (pivot)

• Infections spreading through the terminal cleaning process: Equip custodial staff with a “flashlight” that they will shine on high touch areas

• Inadequate cleanliness of nurses workstation on wheels (WOWs): With “flashlight” (pivot)

At the moment, we are not focusing on products that reduce surgical site infections and clean surgical instruments (pivot)

VALUEPROPOSITIONS

CHANNELS


CUSTOMERSEGMENTS


KEYPARTNERS

KEYRESOURCES

KEYACTIVITIES




NYU

SBIR/SBTT


Supplier of UVC LED

CDC

Joint Commission

Manufacturers



Assoc. of Prof. of Infection Control and Epidemiology (APIC)

Physical product sales, cross-selling, upgrades, service contracts


Financial


Ultraviolet-C LEDs


Raising capital


Clinical trials

Production



Direct Selling (website and sales force)

GPOs

Conferences/Industry publications

Architecture design firms


Head of Purchasing


Manager of environmental




Personal Assistant



FDA approval for “critical” devicesEPA

FDA

FDA approval

EPA approval


Reduce opportunity for human error when cleaning rooms

Status for doctors, hospital execs from reducing HAIs


Here’s What We’re Doing Next:1) Keep interviewing 2) Obtain non-dilutive financing to build prototype (month 0-3)

• NYU Healthcare Innovation Makerthon• NYU Business Plan Competition• VentureWell grants and competitions • SBIR / SBTT grants (other grants from government organizations?)• Public/private grants to test for efficacy

3) Build prototypes that will receive UL safety and EPA approvals (month 3-6) 4) Test the effects of prolonged skin exposure to UVC LED light (month 0-6) 5) Efficacy test in Langone Medical Center (month 8-18 month)

Langone Medical center verbally agreed to apply for grants with us and potentially test in live hospital environment

6) Quick full-time jobs and start the startup (month 16) 7) Begin developing relationships with manufacturers and suppliers for production (month 13-18 months) 8) Build direct channel and distribution networks (month 16-18) 9) Try to acquire capital first round of capital to scale up production, from VCs or other sources (month 16-20)

10) Acquire second round financing for products that need FDA approval (month 26-30) 11) Build a billion dollar business with UVC LEDs as the core technology