Hello!
Welcome to my Venture Pitch. This concept is an imagined venture that I hope will become a reality some time soon, in the future.
Please find my Elevator Pitch here.
My Venture Pitch project is hosted on the site here or https://ckeungetec522.weebly.com/
FEEDBACK: Wow, a lot of work Cindy! I enjoyed your professional elevator pitch video the most. For me to invest, I would need more connection to the learning opportunity behind MediDOC. It seems like it collects valuable data and can provide immediate safety help – how does one learn from the data it provides? I would also be wary to invest in clothing that has technology embedded within it as: is it possible to actually wear it daily? Personal example: I was going to buy ski-heated socks recently. However, I went for the footbed option instead. This gave me fewer opportunities to wear the heated technology. However, I did not like the texture of the sock to begin with, the fact that I would have to wash it, or how it would wear out. That said, ski-heated socks are super popular – so my perception may be skewed. I like that you mention affordability in your pitch, that is the biggest issue we encountered during our wearables project!
FEEDBACK: I think the concept for this is quite interesting. In order to invest, I would need some clarity on the clothing items. For example, if the tech is embedded and not something you attach to your clothing, wouldn’t a user need to outfit their entire wardrobe with MediDOC clothes? Do you think people would want to do that? Also, you could lose out on a lot of customers if your fashion design team is not very good, as people really care about how their clothes look. I think MediDOC would be more attractive if there was a piece of tech that could be added to the user’s regular clothes. You would have to design something that is still very unnoticeable, as you did mention you were going for an “invisible” look. I also wonder about the tech being too expensive for the average person. I think medical insurance may be able to help with some of the cost, but I am not confident that there is medical budget in Canada for this type of thing. Lastly, I think you maybe have cast your net a little too small with the target market. There was specific mention of protecting people from an increase in hate crimes, heinous crimes fueled by racists attitudes, and specific mention of Asian hate crimes. I think it might be better to just mention that it is attractive for anyone who could be a victim of a violent crime, regardless of the motivation (this, unfortunately, applies to a lot more people). I think you did a great job identifying elderly people as a target market, because they are the most susceptible to day-to-day injury. I would also recommend including young children, as they seem to get hurt a lot. Along with this, parents are always willing to invest money to protect their children (I personally probably wouldn’t purchase MediDOC clothing for myself, but I certainly would for my young children).
Feedback: Hey Cindy, I think you have a good idea here and appreciate the cause behind it. A couple of things for feedback, one-you didn’t mention your background in the pitch which would’ve been helpful, and second-I didn’t see much information about how your product differentiates from similar competitors. Perhaps including these will help to sway investors towards investing.
FEEDBACK: Hi Cindy, great elevator pitch! Safety technology is an industry that is definitely growing and people are willing to pay whatever it costs to for these safety measures. As the saying goes “you can’t put a price on safety.” One concern I have is the direct and indirect competitors to this product. For example, I’ve seen advertisements for a necklace that seniors can wear that has a button they can press in the event of an emergency. Or cars that will call EMS in a crash. While a wearable device that is imbedded into clothing seems like a great idea, I wonder how feasible it would be for people to include this in their daily wear? I think if you can differentiate your product from others you’ve got something investors will be interested in!
REVIEW: Hi Cindy. Thank you for the well-researched pitch. I can see you have a deep personal connection to this idea. Having aging parents myself, I can see the value in your pitch. As well, I see an overwhelmed medical system where sometimes doctors or EMS are not even available. You definitely have a large target audience for these products. I would be interested in investing, but I have a couple of questions. You have definitely identified your market, but how would you present this to ensure you have interested customers? I also would like to know how much you are asking of your investors, and what you expect the return to be?
FEEDBACK: Hi Cindy, Great well put together venture idea, I like your professional venture pitch and the sharing of your personal experience that led you to this idea. As an investor I would be looking for a little more detail as to what the product might look like or how exactly it would work? Is it embedded in a certain type of clothing or is it somthing that someone wears everyday? I think this level of information would help me to understand how it might be different then other wearable technologies available today!