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PMBA6004 Creative and Business Innovation
iCareTeam KiWi
Wireless health monitoring service
Lincoln ChanAlan SoChris Lam Amy KwokWinnie Lee YJ Kim
iCare
Team KiWi
Introduction (Problem statement)
How’s the performance of current market products / services? Can they satisfy all people’s needs?
Personal Emergency Link (PE Link) Mobile Link (M Link)
They provide a ‘help seeking’ function only!
Q: Have you ever experienced the following?
I care about our elderly parents but I cannot afford a ’24-hr registered
nurse’ to take good care of them.
Whenever my baby is sick, I worry about him even when I am working
at the office.
iCare
Team KiWi
Intended Users, Uses and Featured Functions
1. Family/Guardians ↔ elderly people
Real-time physiological information Auto alert system Follow up calls Vibration sensors GPS function
2. Parents ↔ their babies/kids
Real-time physiological information Auto alert system
3. Doctors ↔ Family and patients
Real-time physiological information Auto alert system Valuable to patients with high blood pressure Prevent Stokes
Wirstwatch type
Armband type
(For babies)
iCare
Team KiWi
How it operates?
•System •Supervisor
•User
• Blood pressure
• Pulse rate
• SpO2
• Glucose
• Body temperature
Sensor Transmission Terminal
• Database
• Web connection
• Wireless (WiFi / GPRS)
• Web access
• Emergent alarm
• Graphical display
• Analysis
Accuracy Accuracy / Promptness Conveinence
iCare
Team KiWi
How it functions?
Demonstration
iCare
Team KiWi
Business Model-Financiali) Research and development cost -start our development centre at Science and
Technology Parks (get HKSAR Gov's Innovation & Technology Fund )-we only integrate existing technologies, so our initial budget is around HK$2-3M only
ii) Fixed Assets and depreciation -plan to out-source the production lines at early stage, so the
budget of our fixed investment will be low which is mainly for computer equipments for call centers
iCare
Team KiWi
Business Model (cont’d)-Financialiii) Sales Budget for Elderly 1st yr: 0 (R & D stage) 2nd yr: 20,000 users (around 2 % of elderly population in HK) 3rd yr: 50,000 users (around 5 % of elderly population in HK) 4th yr: 80,000 users (around 8 % of elderly population in HK) 5th yr: 100,000 users (around 10 % of elderly population in HK)iv) Gross and net margin -target gross and net margin are 55% and 15% respectively v) Payback period -as of low initial capital investment around HK$3M,
the expected payback period is around 3.5 years (1st yr: R &D, 2nd yr: launch)
iCare
Team KiWi
“Open” Business Model (can increase revenue & decrease costs)
~create value by leverage more ideas by external concepts &
~utilizing the resources of own company and other companies as well
Government Subsidies Telecom Companies Insurance Companies
Approach Get subsidies from HKSAR Gov’t to run our successful product
Make use of the already built facilities of Telecom Companies
Put the company logo of the Telecom Companies on iCare as advertisement
Provide discounted or even free iCare services for those insured
Pros Much lower the costs Poor can afford to use
Enjoy big promotion Increase our distribution channels
Fixed turnover
Cons Have many restrictions Difficult to induce Telecom Companies (heavy responsibilities )
Insurance companies may squeeze our profits
iCare
Team KiWi
“Open” Business Model (can increase revenue & decrease costs)
Sources:http://www.mobilelink.hk/index.php?option=com_content&view=article&id=51&Itemid=60&lang=en
-Original prices of purchase and rent is according to the current price of mobile link. -offer “less price more services” in first 3 months promotion period and offer “same price more services” afterwards.
Purchase Rent
Original Price HK$1,680 Original Monthly
Rental Fee
HK$78
Special Price HK$999 Special Monthly
Rental Fee
HK$58
Monthly Service Fee
HK$168 min. services for
6 mths
HK$168 min services
for 12 mths
iCare
Team KiWi
Future Development – iCare @ 2nd Generation
1st Generation iCare
2nd Generation iCare
Authorized supervisor Parent FamilyStaff in Elderly home
Doctor
Insurance
Company
PoliceDietitia
n
Campsite
supervisor
User Baby/Kid
ElderlyElderly Home
Patient Insured DriverFitness lover
Mountain
Climber
Basic Functio
ns
1. Blood pressure x x x x x x x x2. Pulse rate x x x x x x x x3. SpO2 measurement x x x x x x x4. Glucose monitoring x x x x x x x5. Body temperature x x x x x x x x6. Microphone & Speaker x x x x7. Vibration Sensor x x x x
Enhanced
functions
8. Alcohol consumption level x x 9. Global Positioning System x x x x x x
10. Body water moisture content x 11. Altitude & Pressure sensor x