Plan of Attack!

The build out of the prototype for Angle Brace has gone through several renditions. Everything from the thickness of the brace to the material that is being used for the brace has changed. The inventor, Mehdi Mortazavi, is now on the 5th print out of what the product will be.

Key Activities

We have two key steps that will take us from where we are now to being able to conduct tester trials. First we need to develop a working prototype of the hardware, which is the brace. This will be done by our inventor. Our goal is to have a presentable model created by Dec. 6th when we have to compete in our next business competition. The objective is to have a presentation that will effectively communicate the functionality of the brace to our audience and judges. We're hoping that this, along with the other aspects of our presentation, will allow us to place and gain funding towards this development. Second, we need to have our software developed and synced to the brace, so that they can be tested together. This will give us feedback on things like what features are important and if our target market’s survey responses match to the actual market demand for the product.

Key Resources

We are currently seeking about $63,000 to build out a fully functioning prototype and a basic app interface. We are projecting the app to cost about $50,000 to make, including labor. For the brace itself, we are projecting that we'll need about $13,000. This would cover the cost of the injectable mold for the brace, which would be $11,725 (including 25 parts), the velcro, elastic bands, knee sleeves, and the printed circuit boards. The two will work together and allow us to conduct physical research through tester trials. The trials will need to be conducted on end users who are in our ideal customer segments: athletes and post-surgical knee patients.

Unit Economics Diagram

Business Model Canvas Pt. 2

After conducting some market interviews, we have updated out business canvas to properly reflect who our customers will be and how we will reach them (see the diagram below for more information).