Tex cone Final NSF I-Corps Presentation
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Tex cone Final NSF I-Corps Presentation
- 1. TexCone Create water repellent surface to eliminate ice buildup for aircraft, communication devices etc.. by surface microtexture. Uniqueness: Low cost bondable film on variety of surfaces Total customers called, more than 50 Prof. Mool Gupta -Principal Investigator Mr. Paul Caffrey - Entrepreneur Lead Mr. Martin Skelly -I-Corps Mentor 1
- 2. Plastic Marketing Eliminate ice Personal Replicators materials Interaction Aviation Build-up Aircraft Adhesion Immediate Experimental Manufactures Severe Temp 24*7 General Industrial Durability Attention Commercial Contacts IP Direct Sales Marketing & Sales People Raw Materials 60$/500g Sale of coating People Repair Marketing & Sales Warranty Sales Service Contract Version 1
- 3. Clients Contacted 1 st Phase 15 Lots of calls… Cirrus, American What did aviation Champion, Aviat, customers teach us? Aircraft, Zenith Aircraft Kits, Value Proposition – American Spruce, 3M TexCone can increase More targeted calls… survivability of flight into NuSil icing conditions LancAir Cirrus Aviation Customer Segments -- Bell Helicopter Add Kit manufacturers Private Aircraft Kit Builders Navair 3
- 4. 1. Production 1. Durability Eliminate ice Personal 2. Testing 2. Adhesion Interaction Aviation Build-up Marketing Immediate Experimental Plastic Environmental 24*7 General Replicators Biz Com Attention Commercial Aircraft Manufactures NASA Industrial Contacts IP Direct Sales Marketing & Sales People Raw Materials 60$/500g Sale of coating People Repair Marketing & Sales Warranty Sales Service Contract Version 2
- 5. Clients Contacted 2nd Phase 8 Boeing Coatings What did aviation Cessna customers teach us? CIT Gap Funds Value Proposition – Experimental Aircraft Same TexCone can Builders General Aviation increase Survivability of Pilots flight into icing conditions NASA – willing to test Customer Segments -- Add experimental aircraft manufacturers 5
- 6. 1. Production 1. Durability Eliminate ice Personal Aviation 2. Testing 2. Adhesion Build-up Interaction Experimental Marketing Immediate General Plastic Environmental 24*7 Commercial Replicators Biz Com Attention Aircraft NASA Manufactures Industrial IP Direct Sales Contacts Marketing & Sales People Raw Materials 60$/500g Sale of coating People Repair Marketing & Sales Warranty Sales Service Contract Version 3
- 7. Clients Contacted 3rd Phase 5 Cirrus Aviation What did these Experimental Aircraft customers teach us? Builders • There is a Market for superhydophobic Competition/Partner - coatings. Superhydrophobiccoatin • Cirrus is very interested. g.com • Experimental Aircraft Manufacturers easier to penetrate. • Potential for distribution 7
- 8. 1. Production 1. Durability ‘Durable and Personal Aviation 2. Testing 2. Adhesion cost effective Interaction Experimental Marketing prevention of Immediate General Plastic Environmental ice build up' 24*7 Commercial Replicators Biz Com Attention NASA Aircraft Antennas Manufactures Others TBD Industrial IP Direct Sales Contacts Marketing & TBD Financial Sales Investors People Raw Materials 60$/500g Sale of coating People Repair Marketing & Sales Version 4
- 9. 1. Production 1. Durability ‘Durable and Personal Aviation 2. Testing 2. Adhesion cost effective Interaction Experimental Marketing prevention of Immediate General Plastic Environmental ice build up' 24*7 Commercial Replicators Biz Com Attention NASA Aircraft Antennas Manufactures Others TBD Industrial IP Direct Sales Contacts People TBD Financial Investors Raw Materials $8 1m2 Sale of coating People Repair Marketing & Sales Version 6
- 10. Clients Contacted 4th Phase New Client Focus 6 Antenna Segment What did these concentration customers teach us? Pro Brand Inc. – Partner Partnering will help get us through the initial – will supply resources stage from the lab to for testing manufactured solution. – They have ICE Salt/Slurry, UV, and EM test facilities 10
- 11. Market Segments & Size Commercial Aviation $250M General Aviation $50M Market Size Experimental Aircraft $10M Antenna $5M Our Ability to Capture
- 12. What were the lessons • Be specific……. learned? • Cold calling can be fun….exhilarating • NSF I-Corps program, Intense….but accomplished a lot. • Learned Business canvas methodology • Working with our team – Priceless, each member brought something different • Learned a new language – Entrepreneurship • How to accept criticism, not all constructive • Established large network, fellows and mentors • Customer input by getting out of the building • Market for our technology 12
- 13. Is this a viable business? • YES….with lots more work • Need investment to increase pace • Potential niche identified • Good Collaborative Opportunity (PBI) • Sweat Equity 13
- 14. What are we going to do next? Will we pursue after this? • YES, this is a central topic for the PI’s dissertation • Preparation of Road Map for the technology and product • Focus on manufacture at a large scale • Obtain long-term reliability data • Continue with customer interaction • CIT - Proposal submitted, cost shared by UVA • SBIR – Next round • Technology will continue to be refined • Partner – PBI, testing, agreement, investment - Freudenberg, NDA requested 14
- 15. Backup Slides 15
- 16. Marketing Plan •Web Site - Already up - IndustrialFluence.com •FAQSheet – Done, sent to Boeing •Market Research - Direct •General Aviation •Calls with Cirrus, Cessna, ongoing dialog •Experimental •Several calls with enthusiasts •Joined EAA •Investigating Advertising in EAA publication •PowerPoint pitch – Sent to Boeing and Arch Ventures
- 17. Archetype/Persona – Experimental Aircraft Builder • Salary $80K+ • Engineer, Doctor, Lawyer • Mid 40’s-60’s • Particular • Very Technical • Decision Makers 17
- 18. Payment Flows Aircraft Materials $100/m2 Manufacturer supplier $8/m2 Aircraft users TexCone & builder Corporation $100/m2 $1/m2 Microtexture Antenna stamper $5 - $50/Dish Satellite Dish
- 19. Distribution Channel Aircraft Materials Manufacturer supplier TexCone Corporation Microtexture Aircraft users stamper & builder
- 20. Where would the money come from? Revenue Model Choice Channel Web Physical Bits Product Direct Sales Product Physical General Aviation Commercial EAA / Antenna Licensing
- 21. Market Size Total Aviation – General & Commercial $250M Serviceable Aviation – General & Commercial $20M Target EAA & Antenna ~ $5M - Bridge 21