Difference between revisions of "Team:UCL/Entrepreneurship"
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<a href="#Financialdata"><li id="item7">Management</li></a> | <a href="#Financialdata"><li id="item7">Management</li></a> | ||
<a href="#Risk"><li id="item8">Financial Data</li></a> | <a href="#Risk"><li id="item8">Financial Data</li></a> | ||
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proliferation of your natural microflora, without any added calories.</p> | proliferation of your natural microflora, without any added calories.</p> | ||
| − | <img src="https://static.igem.org/mediawiki/2015/2/23/UCL2015product3infographic.jpeg" | + | <img src="https://static.igem.org/mediawiki/2015/2/23/UCL2015product3infographic.jpeg"> |
<h3>How our product came to be</h3> | <h3>How our product came to be</h3> | ||
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<div id="IP" class="protcl"><h2>Intellectual property</h2> | <div id="IP" class="protcl"><h2>Intellectual property</h2> | ||
<h4> | <h4> | ||
| − | <p> | + | <p>After discussions with our business advisors, we concluded that one of the main concerns that investors will have about |
us is the protection of our intellectual property, especially since the technology of our third phase product is | us is the protection of our intellectual property, especially since the technology of our third phase product is | ||
going to be disclosed at our presentation. </p> </h4> | going to be disclosed at our presentation. </p> </h4> | ||
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<p>We are producing the first product of its type. While there are other probiotic companies that use a chocolate | <p>We are producing the first product of its type. While there are other probiotic companies that use a chocolate | ||
matrix as their delivery mechanism, they have only patented their own method, or their encapsulation process. We | matrix as their delivery mechanism, they have only patented their own method, or their encapsulation process. We | ||
| − | only found another similar patent, by P&G that patented the probiotics + chocolate combination, but it did as a | + | only found another similar patent, by P&G that patented the probiotics + chocolate combination, but it did so as a |
method of promoting gastrointestinal health. | method of promoting gastrointestinal health. | ||
<a href="http://worldwide.espacenet.com/publicationDetails/biblio?DB=EPODOC&II=2&ND=3&adjacent=true&locale=en_EP&FT=D&date=20120202&CC=AU&NR=2010264448A1&KC=A1%22%3E(Application%20number:%20AU20100264448%2020100624)">(Number: AU20100264448 20100624)</a> As a result, | <a href="http://worldwide.espacenet.com/publicationDetails/biblio?DB=EPODOC&II=2&ND=3&adjacent=true&locale=en_EP&FT=D&date=20120202&CC=AU&NR=2010264448A1&KC=A1%22%3E(Application%20number:%20AU20100264448%2020100624)">(Number: AU20100264448 20100624)</a> As a result, | ||
| − | our invention is novel | + | our invention is novel, non-obvious and, we believe, fully-patentable. </p> |
| − | + | ||
| − | + | ||
<p>The relevant documents can be found below</p> | <p>The relevant documents can be found below</p> | ||
<ul> | <ul> | ||
| − | <li><a href="https://static.igem.org/mediawiki/2015/f/f0/Ucl2015entreppatentform.pdf "> | + | <li><a href="https://static.igem.org/mediawiki/2015/f/f0/Ucl2015entreppatentform.pdf ">Filed_Form.pdf</a></li> |
<li><a href="https://static.igem.org/mediawiki/2015/0/0c/Ucl2015entreppatentreceipt.pdf ">Receipt.pdf</a></li> | <li><a href="https://static.igem.org/mediawiki/2015/0/0c/Ucl2015entreppatentreceipt.pdf ">Receipt.pdf</a></li> | ||
</ul> | </ul> | ||
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<h4>Social</h4> | <h4>Social</h4> | ||
| − | <p> | + | <p>The improved perception of genetic engineering through the democratisation of the products and the industry itself will change people’s perceptions and thereby contribute to a better public image. These effects will in turn affect legislation and policy.</p> |
<p>Stress is a constant of the human condition and, despite increases in material abundance, it has come to negatively impact health and quality of life more and more over the past decades. A full discussion of the reasons behind this phenomenon would yield a complex analysis unto itself. With more and more people suffering from chronic stress it has become imperative to find solutions for this problem that allow people to continue pursuing the lifestyles of their choice. </p> | <p>Stress is a constant of the human condition and, despite increases in material abundance, it has come to negatively impact health and quality of life more and more over the past decades. A full discussion of the reasons behind this phenomenon would yield a complex analysis unto itself. With more and more people suffering from chronic stress it has become imperative to find solutions for this problem that allow people to continue pursuing the lifestyles of their choice. </p> | ||
| − | <p>Health consciousness is a rising trend among peoples of all ages. This means people are more willing to spend more of their disposable income on health and wellness-related products | + | <p>Health consciousness is a rising trend among peoples of all ages. This means people are more willing to spend more of their disposable income on health and wellness-related products. Given the familiarity of the public with probiotic products we can take them to a next level far more easily than if the concept were not already present in the public consciousness. The ageing population of developed countries could present an opportunity in terms of targeting the elderly specifically. Given the fact that most older people take some form of medication our product would present an alternative to another addition to a daily regimen of pills.</p> |
<p>Attitudes toward mental health are slowly shifting towards having them considered to be on par with physical disorders in terms of their debilitating potential and the attention they deserve. The stigma that accompanies mental health is no longer as powerful and therefore people are more likely to seek assistance, including pharmacological interventions which we could supplement and, in the future, substitute.</p> | <p>Attitudes toward mental health are slowly shifting towards having them considered to be on par with physical disorders in terms of their debilitating potential and the attention they deserve. The stigma that accompanies mental health is no longer as powerful and therefore people are more likely to seek assistance, including pharmacological interventions which we could supplement and, in the future, substitute.</p> | ||
| − | <p>The power balance between the doctor and the patient in the west is shifting in the direction of the patient and with this greater level of empowerment the patient is more likely to opt for a lifestyle product such as our minimum viable product (MVP) which can be given early on rather than | + | <p>The power balance between the doctor and the patient in the west is shifting in the direction of the patient, and with this greater level of empowerment the patient is more likely to opt for a lifestyle product such as our minimum viable product (MVP) which can be given early on rather than pharmacological treatment. </p> |
<p>Safety and transparency have been prime concerns from day one. In order to gain and maintain the public’s trust we must not allow our company’s image to become associated with the idea of the impenetrable corporation with a dubious agenda that persistently clings to genetic engineering. </p> | <p>Safety and transparency have been prime concerns from day one. In order to gain and maintain the public’s trust we must not allow our company’s image to become associated with the idea of the impenetrable corporation with a dubious agenda that persistently clings to genetic engineering. </p> | ||
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<h4>Technological</h4> | <h4>Technological</h4> | ||
| − | <p>We are living in an unparalleled time in terms of scientific research and technological change. The cost of DNA sequencing is decreasing at a rate faster than Moore’s Law, and synthesis is also becoming much cheaper over time. The greater efficiency of new techniques allow us to gather information that was prohibitively expensive in the not-too-distant past, such as microbiome profiles and information about | + | <p>We are living in an unparalleled time in terms of scientific research and technological change. The cost of DNA sequencing is decreasing at a rate faster than Moore’s Law predicts, and synthesis is also becoming much cheaper over time. The greater efficiency of new techniques allow us to gather information that was prohibitively expensive in the not-too-distant past, such as microbiome profiles and information about personal genomes. This information would be useless without the ability to use immense computer power and data science techniques to unlock powerful insights that would otherwise be unattainable. Recently developed techniques such as CRISPR/Cas9 will permit more accurate genetic manipulation of bacterial genomes in vivo, which will be crucial in developing our product strategy past the MVP.</p> |
| − | <p>Our MVP is based on a large and growing body of research in a transdisciplinary field that encompasses subjects ranging from genetics, to microbiology, to computer science to psychiatry. This allows us commission | + | <p>Our MVP is based on a large and growing body of research in a transdisciplinary field that encompasses subjects ranging from genetics, to microbiology, to computer science to psychiatry. This allows us commission only strategic studies to produce proprietary strains and patents which have information contained in the public domain as their foundation.</p> |
<p>As the general public becomes more receptive to novel gadjets and the notion that technology can improve their lives we are witnessing a trend called the “quantified self”, characterised by devices that monitor several biometrics within the context of physical activity. This is not limited to performance athletes but also encompasses those who are both tech-savvy and focused on self-improvement. Since people in this group are likely to have large disposable incomes they could become the ideal target for our personalised MVP range.</p> | <p>As the general public becomes more receptive to novel gadjets and the notion that technology can improve their lives we are witnessing a trend called the “quantified self”, characterised by devices that monitor several biometrics within the context of physical activity. This is not limited to performance athletes but also encompasses those who are both tech-savvy and focused on self-improvement. Since people in this group are likely to have large disposable incomes they could become the ideal target for our personalised MVP range.</p> | ||
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<h4>Economic </h4> | <h4>Economic </h4> | ||
| − | <p>The preponderant economic factor that influences the markets we’re looking at is the prospect of very low economic growth in the | + | <p>The preponderant economic factor that influences the markets we’re looking at is the prospect of very low economic growth in the West that just doesn’t seem to be going away any time soon. To this we add the recent slowing down of emerging market economies.</p> |
<p>Stagnant wages and low economic growth when coupled with rising inequality have led to a steady decrease in the disposable incomes of a the vast majority of the population and even a depletion of the middle class. This means it will be more difficult to draw these consumers into a long-term relationship with our product while it remains a wellness and lifestyle good; if it were seen as a medical treatment the price elasticity of demand (in terms of % of income) would not be so large.</p> | <p>Stagnant wages and low economic growth when coupled with rising inequality have led to a steady decrease in the disposable incomes of a the vast majority of the population and even a depletion of the middle class. This means it will be more difficult to draw these consumers into a long-term relationship with our product while it remains a wellness and lifestyle good; if it were seen as a medical treatment the price elasticity of demand (in terms of % of income) would not be so large.</p> | ||
<p>In response to the economic troubles of past years several countries have implemented policies of austerity which directly impact national health budgets. This reduces the market’s overall size but forces purchasers to become more creative in order to maximise their resources, thereby making them more open open to novel treatments with long-run cost-cutting potential. The search for creative solutions sparked by harsh economic times might come as a blessing in disguise to innovative endeavours such as this one </p> | <p>In response to the economic troubles of past years several countries have implemented policies of austerity which directly impact national health budgets. This reduces the market’s overall size but forces purchasers to become more creative in order to maximise their resources, thereby making them more open open to novel treatments with long-run cost-cutting potential. The search for creative solutions sparked by harsh economic times might come as a blessing in disguise to innovative endeavours such as this one </p> | ||
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<p>The reasoning behind much of the tight regulation of products in this industry is the possibility that microorganisms will be released into the wild and the consequences of that happening. In the case of bacteria there is the possibility that genetically engineered plasmids will be taken up by wild bacteria which can then develop undesirable traits.</p> | <p>The reasoning behind much of the tight regulation of products in this industry is the possibility that microorganisms will be released into the wild and the consequences of that happening. In the case of bacteria there is the possibility that genetically engineered plasmids will be taken up by wild bacteria which can then develop undesirable traits.</p> | ||
<p>Given the poor environmental track record of genetically engineered seeds and other plant product we need to take steps to minimise our environmental impact not only for ethical reasons but also because of the public relations backlash that a poor environmental record entails.</p> | <p>Given the poor environmental track record of genetically engineered seeds and other plant product we need to take steps to minimise our environmental impact not only for ethical reasons but also because of the public relations backlash that a poor environmental record entails.</p> | ||
| − | <p>The food ingredients should also be considered. Each element in our supply chain should be | + | <p>The food ingredients should also be considered. Each element in our supply chain should be produced responsibly so that they each contribute to our product in a sustainable and environmentally friendly way.</p> |
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<h4>Political </h4> | <h4>Political </h4> | ||
| − | <p>The shifting political landscape is likely to affect the genetic engineering aspects of our product. The public discourse on this issue has long been driven by interest groups on both sides and associated to large corporations sacrificing the public good for personal gain. Much of this is likely to change over the coming decade as patents on some of the original methods and products expire and the use of these technologies becomes democratized. As smaller companies run by young entrepreneurs enter the market it is likely that the image of genetic engineering will change to something more positive and relatable. Once these changes take place it will be possible for legislators beholden to their electorate to approach the problem of regulating this technology from a less | + | <p>The shifting political landscape is likely to affect the genetic engineering aspects of our product. The public discourse on this issue has long been driven by interest groups on both sides and associated to large corporations sacrificing the public good for personal gain. Much of this is likely to change over the coming decade as patents on some of the original methods and products expire and the use of these technologies becomes democratized. As smaller companies run by young entrepreneurs enter the market it is likely that the image of genetic engineering will change to something more positive and relatable. Once these changes take place it will be possible for legislators beholden to their electorate to approach the problem of regulating this technology from a less risk-averse standpoint. </p> |
<p>Given the lack of public awareness of the general public with regard to this topic, educating the public about the benefits that synthetic biology could unlock should become one of our company’s priorities. Broadening this education to other areas in science would be even better.</p> | <p>Given the lack of public awareness of the general public with regard to this topic, educating the public about the benefits that synthetic biology could unlock should become one of our company’s priorities. Broadening this education to other areas in science would be even better.</p> | ||
| − | <p>The top-down hierarchy of the healthcare industry in general poses a significant obstacle to those looking to launch new products within the space. Since people do not possess the knowledge required to make informed medical decisions on their treatment they generally defer to a doctor on these matters. Because the doctor has several dozen (if not hundred) patients his willingness to take risks or try new products is far lower than if it were a patient ready to assume a risk for himself. It can be said that the incentives of doctors are not | + | <p>The top-down hierarchy of the healthcare industry in general poses a significant obstacle to those looking to launch new products within the space. Since people do not possess the knowledge required to make informed medical decisions on their treatment they generally defer to a doctor on these matters. Because the doctor has several dozen (if not hundred) patients his willingness to take risks or try new products is far lower than if it were a patient ready to assume a risk for himself. It can be said that the incentives of doctors are not aligned with those of patients. This is not to say that doctors do not have their patient’s best interests at heart, but they also have to consider their own reputation and exposure to litigation. This effect becomes more pronounced as you move up the hierarchy of public health, thereby slowing down technical innovation tremendously.</p> |
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<h4>Legal</h4> | <h4>Legal</h4> | ||
| − | <p>As was discussed before the regulatory and legal constraints limit the range of products we can hope to put on the market at any point in time. We need to be aware of this from the start and do our utmost to comply with the safety and standards required by law at all times.</p> | + | <p>As was discussed before, the regulatory and legal constraints limit the range of products we can hope to put on the market at any point in time. We need to be aware of this from the start and do our utmost to comply with the safety and standards required by law at all times.</p> |
| − | <p>Different geographic regions pose different challenges when it comes to the legal aspect of the enterprise. The EU and the US tend to have the tightest regulatory structures, but since these are also the most desirable markets and those with which we have the greatest experience it would not serve our interest to use another body of legislation as a guideline. Therefore we have opted to use the highest standard we are aware of in order to be able to freely commercialize our product | + | <p>Different geographic regions pose different challenges when it comes to the legal aspect of the enterprise. The EU and the US tend to have the tightest regulatory structures, but since these are also the most desirable markets and those with which we have the greatest experience it would not serve our interest to use another body of legislation as a guideline. Therefore we have opted to use the highest standard we are aware of in order to be able to freely commercialize our product in new geographies with minimal additional effort.</p> |
<p>This is not to say that a more progressive and less strict set of regulations in a particular country cannot provide us with the opportunity to prove that a particularly innovative product is safe and effective to use. This might be the case if we decide to create genetically engineered probiotics for non-medical use meant for the general public.</p> | <p>This is not to say that a more progressive and less strict set of regulations in a particular country cannot provide us with the opportunity to prove that a particularly innovative product is safe and effective to use. This might be the case if we decide to create genetically engineered probiotics for non-medical use meant for the general public.</p> | ||
<p>A source of opportunities that cannot be neglected is the possibility of particular molecular biology techniques being, because of their particular nature, permitted under the law. These methods would grant us greater flexibility in what we can do within the realm of consumer products in the near future.</p> | <p>A source of opportunities that cannot be neglected is the possibility of particular molecular biology techniques being, because of their particular nature, permitted under the law. These methods would grant us greater flexibility in what we can do within the realm of consumer products in the near future.</p> | ||
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<h4>Ethical </h4> | <h4>Ethical </h4> | ||
| − | <p>In analysing the business environment of a product such as this one the ethical aspect is something that cannot be overlooked. Several aspects have been been previously mentioned, including | + | <p>In analysing the business environment of a product such as this one the ethical aspect is something that cannot be overlooked. Several aspects have been been previously mentioned, including patents on life, releasing genetically engineered organisms into the wild, making safety and transparency front and center in the culture of our company, targeting people with mental health disorders and ensuring the supply chain is environmentally responsible.</p> |
<p>The human rights aspects of the project need to be carefully considered. The supply chain should not only be environmentally responsible, but also socially responsible. Helping people and improving their quality of life are at the center of this enterprise, it’s ultimate goal is to provide those who have mental health an equal opportunity at a dignified life and the pursuit of their goals.</p> | <p>The human rights aspects of the project need to be carefully considered. The supply chain should not only be environmentally responsible, but also socially responsible. Helping people and improving their quality of life are at the center of this enterprise, it’s ultimate goal is to provide those who have mental health an equal opportunity at a dignified life and the pursuit of their goals.</p> | ||
| − | <p>The mentally ill are one of the most disenfranchised groups in modern society, much more so because they have insufficient influential spokespeople for their cause. By helping the mentally ill we are attempting to correct one of the most jarring drivers of inequality in society: the | + | <p>The mentally ill are one of the most disenfranchised groups in modern society, much more so because they have insufficient influential spokespeople for their cause. By helping the mentally ill we are attempting to correct one of the most jarring drivers of inequality in society: the division between the sane and the insane.</p> |
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<h3 id="2"> Regulations </h3> | <h3 id="2"> Regulations </h3> | ||
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satisfaction, and a better environment for innovation. </p> | satisfaction, and a better environment for innovation. </p> | ||
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<div class="about-item8 hide"> | <div class="about-item8 hide"> | ||
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</div> | </div> | ||
| − | < | + | <h3 id="1">Prototype</h3> |
| − | < | + | <figure> |
| + | <center><img src="https://static.igem.org/mediawiki/2015/6/64/Ucl2015entrepprotoypecost.jpg"></center> | ||
| + | </figure> | ||
| − | </ | + | <h3 id="2">Production</h3> |
| + | <h4> 12 Month Cash flow </h4> | ||
| + | <figure> | ||
| + | <center><img src="https://static.igem.org/mediawiki/2015/4/4b/Ucl2015entrepcashflow.jpg"></center> | ||
| + | </figure> | ||
| − | </ | + | <h4> Webpage cost breakdown </h4> |
| + | <figure> | ||
| + | <center><img src="https://static.igem.org/mediawiki/2015/e/ec/Ucl2015entrepwebsitecost.jpg"></center> | ||
| + | </figure> | ||
| − | < | + | <h4>Break even point</h4> |
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| − | < | + | <center><img src="https://static.igem.org/mediawiki/2015/1/1f/Ucl2015entrepbreakeven.jpg"></center> |
| − | < | + | </figure> |
| + | <figure> | ||
| + | <center><img src="https://static.igem.org/mediawiki/2015/8/8e/Ucl2015entrepbreakeventable.jpg"></center> | ||
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Latest revision as of 15:53, 22 October 2015
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