Week 3 Readings

Introduction to Cancer Aid

• Founders: Dr. Rag Morali Ganesh, Dr. Nik Pav, Dr. Mountain.

• Goal: To improve cancer care on a global scale.

• Importance of the endeavor: Aims to enhance patient care, reaching possibly millions worldwide.

• Identified the end users and their pain point accurately unlike the rest of the other cancer apps that doesn’t accurately target

Mission and Vision

• Many doctors share the vision of improving care quality.

• Cancer is a highly isolating experience for patients and their families.

• Patients want enhanced resources and support during treatment.

The Cancer Aid App

• Introduction:

  • Cancer Aid is an app designed to empower cancer patients and their caregivers.

  • Already the number one cancer app in Australia, the US, and the UK.

• Proposal:

  • Seeking $500,000 for 10% equity at a $5 million valuation.

• Key Features:

  • Personalized cancer information provided in a user-friendly format to facilitate understanding and retention.

    • ie. take back home information and read it at their own pace

  • Journey organizer for tracking symptoms, medications, and medical records.

  • Community feature similar to social platforms, promoting connections among patients.[ MAIN ]

    • aid them through the isolating experience

Business Model

• Unique licensing structure:

  • App is licensed to:

    • Cancer institutions ($100,000/year).

    • Research organizations ($50,000/year).

    • Private cancer specialists ($5,000/year).

  • This licensing allows for free access to patients.

• Projected revenue:

  • Year one revenue estimate of $1.6 million.

Competitive Edge and Market Feedback

• Feedback from patients leads to an emphasis on community support within the app.

• Addressing gaps in current cancer care practices with a more informed and engaged patient approach.

• The app was designed with the actual users in mind (patients and caregivers).

Funding and Investment

• Current financial status:

  • $170,000 in signed term sheets with prepayments totaling $10,000.

• Competition for investment was intense, with multiple Sharks interested in supporting the venture.

• Major focus on scalability and enhancing patient experience.

• Sharks expressed confidence in the potential of the app to grow in the US market effectively.

Investment Offers

• Four Sharks offered the founders $500,000 for 10% equity.

• Founders considered consolidating offers from multiple investors for strategic benefits.

• Emphasis on the unique combination of expertise and networks of the Sharks involved.

• Negotiation discussions reflect the balance between equity and the value of expertise from investors.

Conclusion and Future Outlook

• The founders decided to accept partnership offers from two Sharks.

• Collaboration seen as vital for scaling and insight from both Andrew and Glenn.

• Commitment to improving cancer care remains at the forefront of their mission.

Stamp

follows a man in new york with a traditional stamp shop

• Provides all types of custom stamps eg: stock stamps

• what makes his stamps better than the rest

  • His stamps use visaprint which is much more high quality than modern stamps used

• Problems faced:

  • Rising rents- landlord wants to double his rent

  • Suppliers shutting down : Stamps getting more and more niche, no need for supplies. Last commericial supplier in the city for stamps shut down and dhe went down to collect the remaining few supplies he could get.