sensotrend pitch for startup sauna
DESCRIPTION
This is the pitch we gave at the Startup Sauna local event, when applying for the accelerator program. Based on the application slide set (http://www.slideshare.net/mikaelrinnetmaki/sensotrend-application-to-startup-sauna), with less text content on slides, and a lot of extra slides at the end, just in case.TRANSCRIPT
AUTOMATED DIABETES DIARY
Visualizing data fromwellness trackers and medical devicesfor personalized diabetes treatment
TRACKAND
LEARN
Diabetes treatment costs in 2013: $ 548 B
$
†<60y
> 1 000 apps, only 1.2 % penetration
“Apps rely on manual input of data.”“No interoperability with glucometers, health & fitness apps.”
PHR
Meals ActivityStress
Business model: Phase 1
Go-to-market via• Diabetes organizations• Healthcare organizations• App stores
People with diabetes pay 79 € / y
Revenue Streams: Phase 2
Healthcare organizations pay for service and data– Patient empowerment saves cost– Personalized healthcare improves results– Legal obligations
Pharma companies pay for data– Valuable for product development
Insurance companies pay for data– Improved risk calculation– Payer role, want to improve treatment
Device manufacturers pay for integration– Better value for users
Pirjo Ilanne-Parikka, MD, Finnish Diabetes Assoc.Jorma Lahtela, MD, UTA / UKU / TAYSPäivi Hannula, MD, PSHP
Type 1 diabetic (14 y), software pro (15 y)Startup experience (14 y)
Software pro (15 y), mobile app startup (2 y)Information visualization, user experience
Healthcare PR, marketing (6 y)Protomo startup coaching
Mikael
Jere
Assi
Advisors
…making sense of diabetes trends
Mikael Rinnetmä[email protected]
+358 50 3855511linkedin.com/in/mikaelrinnetmaki
twitter.com/mrinnetmaki
www.sensotrend.com/linkedin.com/company/sensotrendtwitter.com/sensotrendfacebook.com/sensotrend gust.com/c/sensotrend
H2/13 2014 2015 2016 2017 2018 2019
Personnel 3 3 3 5 8 12 16 20 30 60 75 90
Users 2 2 500 2.5 K 15 K 40 K 70 K 250 K 600 K 1.2 M 2.5 M 6 M
Revenue 0 0 675 K 1.5 M 11.4 M 92 M 484 M
Cost 0 195 K 950 K 1.4 M 16.1 M 52 M 120 M
Ebitda 0 -195 K -275 K 100 K -4.7 M 40 M 364 M
First u
sers, so
ft launch
Launch: F
inland
Launch
: Europe
Medical D
evice Cert.
Financials and Roadmap
FDA approva
l
Launch
: USA
& Can
ada
Trade Sale Opportunities
Investment Opportunity
Looking for 100 000 €, to
– finalize product, start user trials in Q2 2014– launch in Finland on World Diabetes Day 14.11.2014– prepare for next round in Q1 2015, for medical device
certification and international growth
Also looking for advice and connections
Visualizing data fromwellness trackers and
medical devicesfor personalized diabetes
treatment
OUR VISIONGiving citizens control over their clinical and self-monitoring data, and facilitating communication of that data between patients and different healthcare services, will enable personalized healthcare services and improve treatment results for empowered patients.
OUR MISSIONWe make life easier for people
with diabetes by automating the collection and management of
data required for treatment, and improve treatment results by
helping people with diabetes and their healthcare professionals
analyze the data effectively.
TRENDSHealthcare organizations as Health Providers
– get paid for achieved outcomes instead of per visit or procedure– aim for lower cost through remote care, patient portals– favor interconnected solutions– see new entrants to market (Apple Healthbook)
Citizens as Empowered Patients– monitor their health, wellness and fitness using various trackers– expect individualized treatment plans– turn to social networks for advice
PROBLEMS
Making any adjustments to diabetes treatment requires a lot of data, from an extended period of time: glucose values, medication doses, nutrition, physical activity, etc.
“Patients find diabetes overwhelming; adding more work may be too much for many of them to deal with. One of my major goals is to minimize the impact diabetes has on my patients' lives. If an app makes life easier, then fine. If they add another level of complication, once again, it can become overwhelming, and even discourage them from using the technology they need.“ –Doctor
“My big thing is having to manually enter data. I used
to go looking online for apps for diabetes weekly,
but after most of them seemed to require manual
entry, I've stopped. It seems to be a big deal-
breaker for me.” -Diabetic
VALUE PROPOSITIONWe make life with diabetes easier by simplifying the management
of data required for treatment.
We let people with diabetes choose the tools and devices that best suit their individual lifestyles to make self-monitoring easy
and beneficial, fun, or even fully automatic.
We let both people with diabetes and their healthcare professionals feel more in control over the condition and
treatment parameters by providing informative visualizations of all factors affecting blood glucose levels.
DIABETES TREATMENT COSTS IN 2013: $ 548 B
ADDRESSABLE MARKET
Currently 1 100 diabetes apps in stores, penetration < 2%Estimated CAGR 71%, reaching 24M active users in 2018
PHR
PRODUCT SOLUTION
Import data from wellness trackers Import data from medical devices
We collect data from various sources; services consolidating data from wellness trackers, and services reading data from blood glucose meters.
We operate as a service on Personal Health
Record services and visualize the data for people with diabetes and their healthcare
professionals
Glucose readings from meter & pumpActivity, nutrition info from trackersAnnotations
Support for multiple metersPatient owns the data
Competition
BUSINESS MODEL: PHASE 1
Go-to-market via• Diabetes organizations• Healthcare organizations• App stores
People with diabetes pay 79 € / y(trial 6 € / 6 months)
REVENUE STREAMS: PHASE 2
Healthcare organizations pay for service and data– Patient empowerment saves cost– Personalized healthcare improves results– Legal obligations
Pharma companies pay for data– Valuable for product development
Insurance companies pay for data– Improved risk calculation– Payer role, want to improve treatment
Device manufacturers pay for integration– Better value for users
CUSTOMER SEGMENTSDiabetes type 1 Diabetes type 2
Physically active
Pump users
Our early adopters
H2/13 2014 2015 2016 2017 2018 2019
Personnel 3 3 3 5 8 12 16 20 30 60 75 90
Users 2 2 500 2.5 K 15 K 40 K 70 K 250 K 600 K 1.2 M 2.5 M 6 M
Revenue 0 0 675 K 1.5 M 11.4 M 92 M 484 M
Cost 0 195 K 950 K 1.4 M 16.1 M 52 M 120 M
Ebitda 0 -195 K -275 K 100 K -4.7 M 40 M 364 M
First u
sers, so
ft launch
Launch: F
inland
Launch
: Europe
Medical D
evice Cert.
Financials and Roadmap
FDA approva
l
Launch
: USA
& Can
ada
COMPANY INFO
• Started as a team in Protomo incubator in Tampere in September 2013
• Company founded 19 Feb 2014• Three investors, 2 % share each (valuation 500 000 €)• Financial support from ELY-keskus
We introduced our service in Slush conference, Nov 2013. See the video at http://youtu.be/uKrOjDYXKQ0.Also read about us in Slush Blog, http://www.slush.org/2013/11/fighting-diabetes-slush/.
We’re on the cover of Team Finland’s and Finnish Foreign Ministry’s annual publication Focus on Finland. Read the magazine online at http://focus.finland.fi/great-expectations/
You can also order a print copy, free of charge! http://focus.finland.fi/order-print-copy-focus/
SUMMARY
• Sensotrend makes life with diabetes easierwith an automated diabetes diaryutilizing data from wellness trackers.
• Our team consists of diabetics and their relatives, and we’ve got 6 top name diabetes doctors as advisors.
• We have a scalable business model with multiple revenue streams, and a first mover advantage on a globally growing market, driven by changes in legislation.
…making sense of diabetes trends
Mikael Rinnetmä[email protected]
+358 50 3855511linkedin.com/in/mikaelrinnetmaki
twitter.com/mrinnetmaki
www.sensotrend.com/linkedin.com/company/sensotrendtwitter.com/sensotrendfacebook.com/sensotrend gust.com/c/sensotrend