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TinyTechie 2017

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berkeley, berkeley class, business model, business model canvas, customer development, engineering, lean launchpad, lean startup, startup, steve blank

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TinyTechie 2017

  1. Tiny Techie Nate Nicole Stephanie Tony 108 Cumulative interviews to date ● 60 Moms/ 7 Dads ● 6 Pediatric Nurse /Doctors/Hospital administrators ● 4 Baby Store Retailers ● 6 Lactation Consultants/Doulas ● 12 Sensor/Fluid Engineers/Companies ● 5 Professors ● 4 Founders ● 2 Other Week 0: Building a smart nipple shield that helps ● moms struggling with breastfeeding ● moms curious about the data Week 12: Building a smart nipple shield that helps ● Type A moms with concerns about underweight babies, in urban areas, with household income >$100k and <$500k Andy Smith, Mentor Jude & Elijah, Advisors
  2. Origin Story: ● 4 students - passionate about IOT and babies ● Other ideas we considered: ○ Smart car seat - lightweight, ergonomic child placing and easier buckling ○ Baby car wash - automated washing of a baby’s behind ○ Netflix for children’s books & educational materials Babies IOT
  3. Day 1 beliefs Customer Segments ● Mothers struggling with breastfeeding ● Moms with high severity/low duration of bfing issues ● Moms that do not struggle bfing, but just like the data it provides We thought Value Propositions were product features
  4. Customer Segments Weeks 1-2: ● Mothers struggling with breastfeeding ● Moms with high severity/low duration of bfing issues ● Moms that do not struggle bfing, but just like the data it provides ● First time moms Weeks 4-5: ● Type A moms who are concerned about underweight babies, urban areas, >$100 household income ● Type A moms with breast pain ● Working moms ● Lactation consultants Weeks 9-12: ● Type A moms who are concerned about underweight babies, in urban areas, >$100k household income ● working moms, in urban areas, with household income > $100k ● Dads who are data geeks ● Dads (w/ moms struggling with breastfeeding) ● Google / Facebook HR ● By week 12, we can ask a mom 4 questions and predict with 80% confidence whether they will show high interest in our product. Critical to honing in on a specific customer segment inside the mom market ● Saboteurs - lactation consultants are mom influencers who do not like us Validated In ProgressInvalidated
  5. In ProgressInvalidatedInvalidatedValidated Breastfeeding Mom Personas and Interview Quotes Data Nerd “That data would be interesting to have, I might use once in awhile” 10% of interviews Lactivist “Ugh, that’s horrible. I would never use it” 20% of interviews Easy going mom “It sounds cool, but I don’t I would buy it.” 25% of interviews Struggling Breastfeeders “Love the product! I can see the market for this” 45% of interviews
  6. Value Proposition Dashboard Gains Pains Customer Jobs Gain Creators Pain Relievers Products & Services Feed the baby Nutritional mystery Insecurity Discomfort Confidence that mom is “doing it right” Babies are breastfed longer Eliminates uncertainty in babies feeding habits Reduces discomfort Breast is best Mother-baby bonding experience Nipple shield monitor App with real-time milk consumption data tracking The problem we’re solving is relieving the anxiety and self-questioning that mothers experience. “Am I bad mother?”
  7. FormulaFeeding Pumping & Breastfeeding Support Baby Technology Lactation C onsultants Breastfeeding m onitoring products TinyTechie Competitor Leaf Diagram Our main competitor - hospital scale Moms will do almost anything to avoid formula Saboteurs
  8. Market Size SAM dropped as we discovered that moms needed to have specific problems to show interest $15M $2M $309M $20M $400M To improve our SAM, we looked at complementary mom products, including breastfeeding survival kits, poop health identification apps, education materials through the app, but these did not resonate in customer interviews. SAM increased slightly as we refined our customer segments $500k
  9. Channels Week 1: ● Lactation consultants ● Mom and Pop Maternity shops ● US association of lactation consultants Weeks 4-5: ● our own website ● amazon.com ● Mom and Pop shops make very little profit selling baby products and competing against Amazon. They are pivoting towards baby classes for revenue ● Saboteurs - lactation consultants are mom influencers, typically very natural focused, do not like technology Validated In ProgressInvalidated
  10. MVP Progression Weeks 1-5 Proving Viability Can moms picturing themselves using this? Results: Moms are familiar with nipple shields Moms use iPhones while feeding, are not concerned about wireless radiation when their baby is underweight Weeks 3-9 Proving Feasibility Can we actually make this at a reasonable cost? Struggle: Sensors were made for industries (too big), or touches the fluid in smaller applications (not food safe) Technologies: Magnometer, Temp sensor, OLED Sensor, in-pipe turbine
  11. MVP Progression Weeks 9-12 Feasibility Proved! Results: We flew to Las Vegas, found an excited partner in IST (sensor company). Validated that we can source tiny and low cost flowmeters. Specs: Accuracy: +/- 5% Size: 0.2-0.5 cm Battery Life - 10 hours Unit Cost - $3-$5 Next steps Prove Usability ● 3D print the nipple shields and embed the sensors ● Give it to moms to test
  12. ARE GOING FOR IT! Next Steps for the FlowMometer Investment Readiness - Not yet, but could be a viable business More validation needed: ● Are moms liars? They said they would buy it, but will they hand cash over? (Lesson borrowed from other LLP team - Illuminate) ● Will moms actually enjoy using the product? ● Customer acquisition costs - is it low enough to be profitable? Next steps: ● Build 20 FlowMOMeters ● Test payments and usability with moms Stephanie Tony