MedLED
City: Mykolayiv
Project manager: Alexander Belikov
Degree of project readiness: Prototype
MedLED is a LED flexible blanket for the treatment of jaundice in newborns.
The main purpose of our product is to increase the comfort of newborns during phototherapy. Income is planned from sales to maternity hospitals and children's hospitals. In addition, rent for parents will be introduced.
Video presentation of the project
Project presentation in PDF format >>>
Additional materials:
promo video >>>
You can ask your questions about the project through the comments form
What are advantages of your product compared to the biliblanket product? Just only convenience? Could you explain? How do you plan to expand to the European market with just the Ukrainian patent? How do you plan to compete with Biliblanket?
ReplyDelete1. Different irradiation technology. In the Biliblanket, the irradiation is transmitted from the bulky unit through the opticfiber, and MedLED have the emitters are directly in the blanket. It makes the procedure much easier and more convenient. You can hold the baby in your arms during therapy.
Delete2. The area of the Biliblanket emitter covers only the child's torso on one side. We have a radiator with twice the area for coverage and limbs which contain higher concentration of bilirubin. In our device there are two radiators for irradiation from the top and bottom. So the efficiency of irradiation is much higher.
3. BiliBlanket does not come with a blanket (cover for a child). Therefore parents will have to make sure that bright light does not get into the child's eyes.
4. Unlike a competitor, we monitor the temperature with sensors.
5. None of the competitors has remote control from a mobile application (this allows parents to turn on silent mode for avoiding waking up the child and accumulate data on therapy)
To enter the European market (as well as to enter the Ukrainian market), we must pass medical certification (this is our main task at this stage). The cost of medical certification for Ukraine is $ 15,000. The cost of certification for Europe is much higher (about $ 400,000).
DeleteThe main target audience is parents of newborns who need treatment at home. Our strategy to enter the Ukrainian market involves promotion through Instagram (advertising for bloggers). The strategy for competition in the European market is similar, but we must first conduct marketing research.
DeleteThis info was missing in your presentation. A clear demonstration of pros and cons compared to the competitors is very critical, as well as a clear business plan which show passways to
ReplyDeleteconsumer market in stages, also with a plant to attract investors.
You are absolutely right. However, we are clearly limited by the pitch time (and viewing slides time). A clear demonstration of all the pros and cons compared to competitors takes too much time (you saw how many pros we listed only one competitor). Therefore, most of the information remains behind the scenes - it remains for questions / answers. An overloaded presentation is perceived negatively.
DeleteAnd you are even more right about the business plan, because these issues are more important to investors than the technical aspects of the idea. Still, the format of the competition does not allow to delve into these issues at the expense of others (because not only investors are reviewing the project). The main purpose of our presentation is to interest the widest possible audience for a limited time. And then give comprehensive answers to everyone interested.
I hope that we have coped with this task! Thanks for your comments, we really appreciate the feedback.