3. LeashMe Team Members
Name Background Expertise Role
Avin Arumugam Payments Product/Biz Dev Co-Founder
Jim Farris Real Estate Finance/Strategy Co-Founder
Marco Gottini Consulting Program Mgmt Co-Founder
Ravi Gupta R&D Agile Product Dev Co-Founder
(SW/Biotech)
4. Business Model Canvas Version 1
Self service (Packaged
Product dev (HW, SW) Convenience/Usabili sales)
Manufacturing ty (Easy to use,
partner Production (Scale, never forget)
Outsource)
Sales/Mktg (Brand,
Prod. awareness) Cost reduction
Licensing Partner (Replacement cost,
(IP) Time saving) Direct (Web Sales,
DTV)
Indirect (Partner Mass Market smart
Stores/Wholesaler) phone owners (e.g.,
Keys, Wallets,
Financial (Funding) Passports)
R&D Resources
(Design, Dev, IP)
Support
R&D (Expand with multi-products)
Asset sale (Device, app)
Marketing and Sales
COGS (Economies of scale)
5. (40 people)
Here’s what we did…
Got out of the building
and talked to customers
Interviewed 40 people in person –eyeball to
eyeball
6. Here’s what we found (reality)…
Learned about our customers
Stats on people who lose (35% of tot) and misplace (83%
of tot) stuff; 88% would buy
Pets and kids -> different problem; different customer
segment
Opportunity in life-saving situations
3 customer segments:
Everyday users
Avid users Teaching Team Feedback:
Oren: “Did you say Kids/pets? Really! I think it's a
Irreplaceable stuff different market/model.”
7. Business Model Canvas Version 2
Self service (Packaged
Product dev (HW, SW) Convenience/Usabili sales)
Manufacturing ty (Easy to use,
Mass Market smart
partner Production (Scale, never forget) Personal
phone owners (e.g.,
Outsource) Keys, Wallets,
assistance/automated
Passports)
Cost reduction services (if adopting a
Sales/Mktg (Brand, subscription model)
Prod. awareness) (Replacement cost, People who lose stuff
Licensing Partner Time savingAvoid or are concerned
(IP) Support SW cost by not losing about losing stuff and
capabilities for device items) would like to prevent
and tags AHA!
that
Time Saving Direct (Web Sales,
DTV) People who misplace
(Quickly find stuff and need help to
misplaced items) find it
Financial (Funding)
Indirect (Partner
Stores/Wholesaler)
R&D Resources Corporations that
(Design, Dev, IP) enforce a solution to
Sales force to target
corporations help employee not
Support lose company items
R&D (Expand with multi-products)
Asset sale (Device, app)
Marketing and Sales
COGS (Economies of scale) Subscription service ($X/month for basic service;
pay $Y/month to add more devices)
Customer Support
8. (38 people)
Here’s what we did…
Created mockups
Interviewed 20 more people in person using mockups and tags
Investigated competition
Bought Click ‘n dig
Looked at Cobra, FOFA, EZ-FIND, BiKN, ZOMM
Interviewed people in corporate world
IT Manager & IT Security
at Life Technologies
Planning manager at BP refinery
Investigated sales channels
Talked to NFC technology advisors (phones/tags)
Tech Lead for RFID implementation at Life Technologies
CEO of VivoTech
NFC team at Paypal (lead/astronomer and all other 5 members)
VP of biz dev at Inside Contactless
Started development of the app
Created two surveys
9. Here’s what we found (reality)…
Customers
Avid users V
Everyday users
V
Corporations not early adopters X
Channels
X
Mass retailers not for early stage markets
In-person Kiosks at Sport Clubs/Communities
3rd party Website/advertising access
LESSON LEARNED
Mockups/wireframes are key for interviews
LONG surveys don’t work
10. Business Model Canvas Version 3
Self service (Packaged
Product dev (HW, SW) Convenience/ sales) Everyday users:
Manufacturing Usability (Easy to Personal People who lose stuff
partner Production (Scale, assistance/automated or are concerned
use, never forget)
Outsource)
services (subscription) about losing stuff and
would like to prevent
Sales/Mktg (Brand, Cost reduction that
Prod. awareness) (Avoid cost by not Everyday users:
Licensing Partner losing items)
Support SW People who misplace
(IP) Direct (Own Website, DTV)
capabilities for device stuff and need help to
and tags ONLY WHEN find it
Time Saving MAINSTREAM Indirect
(Quickly find (Partner Avid users: corporate
Specialty Stores/Wholesaler) employees; company
misplaced items)
Providers of new enforces solution to
•ONLY WHEN
high tech sport Financial MAINSTREAM Sales force ensure people have
(Funding) to target corporations their equip with them
equipment
In person or kiosks at- Avid users: sportmen /
R&D Resources Sport Clubs/
travellers / hobbists
(Design, Dev, IP) Communities/
Indirect - specialized stores
Corporations
Support (sport/luggage stores;
travel agencies)
R&D (Expand with multi-products)
Asset sale (Device, app)
Marketing and Sales
COGS (Economies of scale) Subscription service ($X/month for basic
service; pay $Y/month to add more devices)
Customer Support
11. (21 people)
Here’s what we did…
Talked to advisors
Technology industry experts on prototype functionalities
Technical architect at NXP
Biz dev manager and biz dev director at NXP
Head of Mobility at Software Services
HTC mobile platform expert
Talked to insurance providers
Owner of PVI Insurance
Franchise owner of State Farm
Commercial broker at Farmers
Insurance actuary at Liberty Mutual
Talked to apparel manufacturers
VP of Operations at Aviator Nation
Ex Director of Operations at Prada
Head of merchandising at Nike
12. (70 people)
Here’s what we did… (cont.)
Created
Integrated financial statements (5 yrs and 1st yr month-to-month)
BoM
Payment Flows
Pricing Model
Surveys (70 responses)
Developed Prototype (iPhone and Android)
15. Here’s what we found (reality)…
Insurance providers – not viable channel X
Apparel Manufacturers – Alternate channel
possibility
LESSON LEARNED
Surveys require lots of design time and iterations to be
effective
16. Result of surveys
Features Support # of tags Price
0
1 0.2 2
0.8 3 tags 5 tags 10 tags
0.6 -0.2 1.5
0.4 0.1 1
0.2
0 -0.4 0.5
0
0
Features
Track
Checklist
Locate
Online Phone Live in FAQ -0.6
-0.1 live shop
-0.8
-0.2
17. Business Model Canvas Version 4
Self service (Packaged
Product dev (HW, SW) Convenience/ sales) Everyday users:
Manufacturing Usability (Easy to Personal People who lose stuff
partner Production assistance/automated or are concerned
use, never forget)
(Scale, Outsource)
services (subscription) about losing stuff and
would like to prevent
Sales/Mktg Cost reduction that
(Brand, Prod.
(Avoid cost by not Everyday users:
Licensing Partner awareness)
Support SW losing items) Direct (Own Website, DTV)
People who misplace
(IP) stuff and need help to
capabilities for device Indirect (3rd Party
and tags Retailers) find it
Time Saving
(Quickly find ONLY WHEN Avid users: corporate
Specialty MAINSTREAM Indirect employees; company
misplaced items) (Partner Stores/
Providers of new Wholesaler)
enforces solution to
high tech sport Financial Sales force to target ensure people have
(Funding) corporations their equip with them
equipment
In person or kiosks at-
R&D Resources Sport Clubs/Communities
(Design, Dev, IP) Avid users: sportmen /
Indirect - specialized stores
(sport/luggage stores;
travellers / hobbists
Support travel agencies)
Apparel Manufacturers
R&D (Expand with multi-products) Asset sale (Application & Tags)
Marketing and Sales Subscription service ($X/month for basic
COGS (Economies of scale) service; pay $Y/month to add more devices)
Customer Support Application Sales (Item Vendor pays for the tag;
eg wallet, bag, shades, watch)
18. Possible pivot (Monetization of LeashMe Technology)
Replacement of lost items
being the first notified party of lost item of importance through
LeashMe technology
Register items with LeashMe including picture of the
item
Prevent item loss thanks to LeashMe
If item is lost facilitate replacement items of
same/similar/better quality at lowest possible price
via Amazon, eBay, etc
Monetize by revenue share if item is purchased
19. Back of the envelope calculation
1,000,000 items (tags) 10,000,000 items (tags) 50,000,000 items (tags)
20% items lost/year 30% items lost/year 35% items lost/year
$50/item $100/item $150/item
TOT value: TOT value:
TOT value: $10,000,000
$300,000,000 $2,625,000,000
2% replacement 3% replacement 3.5% replacement
commission commission commission
TOT revenue: TOT revenue: TOT revenue:
$200,000 $9,000,000 $91,875,000
21. Possible pivot Cont. (Promotion/Distribution of LeashMe Tags)
Partnership with CC companies to help keep track of
high value items
Discussed with PM @ AMEX and Cap One about
complementing insurance program with LeashMe
Won’t work for all top claim items (needs tag re-engineering)
Need a collaborative financial analysis to prove feasibility
AMEX moving into mobile apps with SERVE so
possible good timing
23. Business Model Canvas Version 1
Self service (Packaged
Product dev (HW, SW) Convenience/Usabili sales)
Manufacturing ty (Easy to
partner Production use, never forget)
(Scale, Outsource)
Sales/Mktg
(Brand, Prod. Cost reduction
Licensing Partner awareness) (Replacement
(IP) cost, Time saving) Direct (Web
Sales, DTV)
Indirect (Partner Mass Market smart
Stores/Wholesaler) phone owners
(e.g., Keys, Wallets, Pa
Financial (Funding) ssports)
R&D Resources
(Design, Dev, IP)
Support
R&D (Expand with multi-products)
Asset sale (Device, app)
Marketing and Sales
COGS (Economies of scale)
24. Business Model Canvas Version 2
Self service (Packaged
Product dev (HW, SW) Convenience/Usabili sales)
Manufacturing ty (Easy to
Mass Market smart
partner Production use, never forget) Personal
phone owners
(Scale, Outsource) (e.g., Keys, Wallets,
assistance/automated
Passports)
Sales/Mktg Cost reduction services (if adopting a
(Brand, Prod. (Replacement subscription model) People who lose stuff
Licensing Partner awareness) cost, Time or are concerned
(IP) Support SW savingAvoid cost by about losing stuff and
capabilities for device not losing items) would like to prevent
and tags that
Time Saving Direct (Web
Sales, DTV) People who misplace
(Quickly find stuff and need help to
misplaced items) find it
Financial (Funding)
Indirect (Partner
Stores/Wholesaler)
R&D Resources Corporations that
(Design, Dev, IP) enforce a solution to
Sales force to target
corporations help employee not
Support lose company items
R&D (Expand with multi-products)
Asset sale (Device, app)
Marketing and Sales
COGS (Economies of scale) Subscription service ($X/month for basic service;
pay $Y/month to add more devices)
Customer Support
25. Business Model Canvas Version 3
Self service (Packaged
Product dev (HW, SW) Convenience/ sales) Everyday users:
Manufacturing Usability (Easy to Personal People who lose stuff
partner Production assistance/automated or are concerned
use, never forget)
(Scale, Outsource)
services (subscription) about losing stuff and
would like to prevent
Sales/Mktg Cost reduction that
(Brand, Prod.
(Avoid cost by not Everyday users:
Licensing Partner awareness)
Support SW losing items) People who misplace
(IP) Direct (Own Website, DTV)
capabilities for device stuff and need help to
and tags ONLY WHEN find it
Time Saving MAINSTREAM Indirect
(Quickly find (Partner Avid users: corporate
Specialty Stores/Wholesaler) employees; company
misplaced items)
Providers of new enforces solution to
•ONLY WHEN
high tech sport Financial MAINSTREAM Sales force ensure people have
(Funding) to target corporations their equip with them
equipment
In person or kiosks at- Avid users: sportmen /
R&D Resources Sport Clubs/
travellers / hobbists
(Design, Dev, IP) Communities/
Indirect - specialized stores
Corporations
Support (sport/luggage stores;
travel agencies)
R&D (Expand with multi-products)
Asset sale (Device, app)
Marketing and Sales
COGS (Economies of scale) Subscription service ($X/month for basic
service; pay $Y/month to add more devices)
Customer Support
26. Business Model Canvas Version 4
Self service (Packaged
Product dev (HW, SW) Convenience/ sales) Everyday users:
Manufacturing Usability (Easy to Personal People who lose stuff
partner Production assistance/automated or are concerned
use, never forget)
(Scale, Outsource)
services (subscription) about losing stuff and
would like to prevent
Sales/Mktg Cost reduction that
(Brand, Prod.
(Avoid cost by not Everyday users:
Licensing Partner awareness)
Support SW losing items) Direct (Own Website, DTV)
People who misplace
(IP) stuff and need help to
capabilities for device Indirect (3rd Party
and tags Retailers) find it
Time Saving
(Quickly find ONLY WHEN Avid users: corporate
Specialty MAINSTREAM Indirect employees; company
misplaced items) (Partner Stores/
Providers of new Wholesaler)
enforces solution to
high tech sport Financial Sales force to target ensure people have
(Funding) corporations their equip with them
equipment
In person or kiosks at-
R&D Resources Sport Clubs/Communities
(Design, Dev, IP) Avid users: sportmen /
Indirect - specialized stores
(sport/luggage stores;
travellers / hobbists
Support travel agencies)
Apparel Manufacturers
R&D (Expand with multi-products) Asset sale (Application & Tags)
Marketing and Sales Subscription service ($X/month for basic
COGS (Economies of scale) service; pay $Y/month to add more devices)
Customer Support Application Sales (Item Vendor pays for the tag;
eg wallet, bag, shades, watch)
27. LeashMe
Thank you to the teaching
team, mentors, TA, and all
the advisors who helped us
during our journey!