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HearingMate presents… Portable Fire Alarm for the Deaf Xiang Chen, CTO Alisha Ling, CEO Christopher Liu, CMO Tiffany Lu, CFO Jessica Lui, CRO.

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Presentation on theme: "HearingMate presents… Portable Fire Alarm for the Deaf Xiang Chen, CTO Alisha Ling, CEO Christopher Liu, CMO Tiffany Lu, CFO Jessica Lui, CRO."— Presentation transcript:

1 HearingMate presents… Portable Fire Alarm for the Deaf Xiang Chen, CTO Alisha Ling, CEO Christopher Liu, CMO Tiffany Lu, CFO Jessica Lui, CRO

2 Design Problem Our Product PortableAffordableUser Friendly Alerts through flashing lights and vibrations Design Problem Many types of alarms in homes only alert via sounds, creating problems for the deaf and hard of hearing (HOH) The fire alarm with lights are not portable, expensive, and hard to install; other alarms are not equipped for the deaf and HOH

3 60mm 40mm 25mm Design Solution vibrating motor microcontroller microphone button to acknowledge alert LCD display AA battery on/off switch

4 Executive Summary Company Overview The company will initially consist of five talented Columbia BME students. Upon product release in 2011, will begin expanding company. Marketing Online advertisement targeted to 3 specific groups: Users, Family and Friends, Professionals Business Model E-commerce 1 st Product (2011)Profitability (2011-2014) Company Sold (2014) Development Plans in Detail

5 Company Overview Product – portable alarm detector for the deaf and hard of hearing Current fire alarms and sound detection devices: Not portable Require installation Expensive

6 Company Overview Fire alarm detection will work wherever typical fire alarm systems are installed. Goals Develop working prototype by May 2009 Take 1-2 years to modify and refine Our company Initially Design group members Begin hiring employees after 1 st product release

7 Market Analysis: The Consumer The deaf The hard of hearing Deaf Hard of hearing Family and friends The Consumer The User Deaf and Hard of Hearing Percent of Total US Population by Age

8 Market Analysis: Advertising Online Deaf and Hard of Hearing Communities Support Groups Forums Chat rooms Institutions Hospitals via Conferences Retirement Communities

9 Business Model RevenueE-Commerce Growing sales platform, targeted customer base, cost cutting Customers purchase product through the HearingMate website and our website is linked to all online advertisements Costs Advertisement, office rental, raw material costs, manufacturing costs Inventory Manufacturer batches of 500 to minimize costs and incorporate user feedback for next batch Exit Strategy HearingMate sold to larger company Demonstrate ability to maintain profitability by releasing new products yearly

10 Short-Term Timeline: Nov 2008-Jan 2011 Preliminary testing of components (microphone, vibrator, processor) Website active Finalize design Plan first prototype Order parts Nov 2008Jan 2011 Jan 2009 May 2009 Jun 2010 Jan 2010 Test first product in institutional study at Columbia Revise product based on study results Marketing campaign obtain IRB approval Apply for funding Evaluate and improve prototypes Finalize website for online payment system

11 Long-term Timeline (Jan 2011-Jan 2014) Jan 2011Jan 2012 Estimated date of deal closure with buyer Jan 2013 Send sales representatives to National Hearing Conservation Conference Jan 2014 Release second product Release third product (target younger users) Release first product and accessories First hire Receive and evaluate feedback from second product Expand line of accessories

12 Prototype Plan Phase 1 Create Matlab Alarm Recognition Algorithm Phase 2 Assemble Basic Components Phase 3 Program Device Microcontroller

13 Concept: Portable fire alarm detector for the deaf and hard of hearing. Solution: 1. Portable 2. Inexpensive 3. No installation required Marketing: 1. Deaf & Hard of Hearing Communities 2. Institutions (Hospitals, Retirement Communities) 3. Internet Development Plan: Profitable by 2011, exit strategy by 2014 Prototype Plan: Summary

14 Thank You Dr. Elizabeth Olson Assistant Professor of Otolaryngology/Head and Neck Surgery Dr. Jaclyn Spitzer Professor of Clinical Audiology and Speech Pathology Dr. Elizabeth Hillman Assistant Professor of Biomedical Engineering Dr. Hayden Huang Assistant Professor of Biomedical Engineering Dr. David Vallancourt Senior Lecturer of Electrical Engineering Mr. Keith Yeager Senior Staff Associate, Laboratory Manager Mr. Robert J. Jackson Fire Safety Officer, Department of Public Safety Mr. Joe McCormack Fire Safety Officer, Department of Public Safety


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