July 14, 2022 | 108 min
A select group of premier Princeton and HBS-founded startup companies presented an overview of their businesses followed by audience Q&A with each of them.
The winner was given special consideration for upcoming HBS Angels of New York and Princeton Alumni Angels pitch nights. Audience members included angel investors and entrepreneurs from Harvard and Princeton.
Revela is a team of Harvard scientists that use AI tools to search for unique and completely new molecules that hit at the root of the hair loss problem facing women. Sifting through millions of compounds, new ingredients have been discovered and clinically tested to safely and effectively stimulate the actual hair follicle site and regenerate hair growth.
Wavely Diagnostics, led by a Princeton alumna, enables 69% of acute pediatric visits to shift to a virtual experience with smartphone-based medical diagnostics, starting with ear infections.
Exponent, co-founded by a Princeton alumnus, helps people land their dream job in tech and advance their tech careers with a comprehensive community-based learning platform. Trusted partners include Stanford, Wharton, Yale, UVA, Michigan and Duke.
TrueToForm, co-founded by Princeton and Dartmouth alumnae, is a digital workflow solution that enables scalable, made-to-measure apparel production. Its proprietary body scanning app obtains accurate body data and generates custom avatars that integrate directly with existing 3D design workflows.
Project Plastic, co-founded by two Princeton alumni, is developing the world's first device for removing microplastics from rivers. Our waters are polluted with over 600 million tons of plastic, 80% of which enter via rivers. Once in the water, plastics break down into microscopic pieces that are almost impossible to detect or collect. Until now.
Proxi, co-founded by a trio of female leaders, is building an infrastructure of niche, mapped guides to local areas. Easy to use, brandable and shareable, Proxi maps are used by hospitality professionals and influencers to gain unique insight into customer conversion.
Presented by Princeton Entrepreneurship Council, Harvard Business School Alumni Angels and Princeton Alumni Angels.
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Don Seitz: Good evening good afternoon to everyone, joining tonight's Princeton HBS startup showcase I'm Don Seitz from the Princeton Entrepreneurship Council or PEC for short.
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Don Seitz: As I think many of you know PEC manages a number of programs and initiatives designed to educate, mentor and engage the larger ecosystem of entrepreneurs.
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Don Seitz: faculty undergraduate and graduate students and, importantly, both alumni and all of our friends, including in tonight's case all of our friends from HBS.
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Don Seitz: And the HBS entrepreneurial community as part of those programs we host several showcases every year, reflecting our commitment to spotlight outstanding founders and tonight's showcase is reflective of that focus and also reflective of some of the collaboration we do with.
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Don Seitz: sister academic institutions in tonight's case, our friends at HBS and very energized, by the way, with the popularity these showcases just about 400.
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Don Seitz: People have.
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Don Seitz: signed up to watch and engage with the founders tonight, which is just a fabulous show of support.
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Don Seitz: I am and all my colleagues at PEC really grateful for the great partnership with both Princeton Alumni Angels and HBS alumni angels, who are
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Don Seitz: Our two co hosts for the evening, and in that spirit pleased first to introduce Rob Wolk for some welcoming comments from the Princeton alumni angel network. Rob.
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Rob Wolk: Thank you very much, Don and on behalf of Princeton Alumni Angels, it is my great pleasure to welcome all of our past winners, our six startup showcase founders and presenters.
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Rob Wolk: And the amazing group in the audience tonight Princeton Alumni Angels is now in the last three or four years invested over.
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Rob Wolk: 15 million into close to 45 startups and we are delighted once again to be co sponsoring this.
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Rob Wolk: Under the great leadership of Don and Anne-Marie in the team and the Princeton Entrepreneurship Council and again partnering with Jim and the HBS Alumni Angels so welcome everyone, and thank you for joining us tonight.
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Don Seitz: Rob, thanks for your great collaboration across the year I'm also equally pleased to introduce Jim Sherman from the HBS Alumni Angel network. Thanks, Jim.
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Don Seitz: Jim are you.
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Jim Sherman: Can you hear me there.
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Don Seitz: We do hear you.
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Jim Sherman: Sorry sorry took a moment, but thank you, Don. Thank you, Rob. Welcome, everyone to this annual
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Jim Sherman: event that we put on a showcase in partnership with Princeton, Princeton Entrepreneurship Council and Princeton Alumni Angels, we're delighted to do this once again very excited by it.
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Jim Sherman: As Don introduced myself, my name is Jim Sherman I'm a member of the board of HBS Alumni Angels of New York.
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Jim Sherman: Our angel group in New York City has grown to be over 350 members, we are the largest or one of the largest in the northeast.
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Jim Sherman: Among angel groups and invest anywhere between 2 and 4 million dollars a year in angel or seed stage startups, we're sector agnostic and we welcome startups startups across industries to apply to one of our monthly pitch nights here in New York.
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Jim Sherman: I should mention that the founders do not have to do not have to have gone to Harvard Business School we're just looking for appealing startups, which is why we love to put on these types of showcases with partners.
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Jim Sherman: The showcases we generally do our quarterly to elevate awareness of exciting startups in the community and ultimately to connect them with the angel community.
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Jim Sherman: For this evening, I want to thank again Rob and Don for putting this together with us, and I look forward to an exciting event and being part of our judges panel this evening and picking a winner. Thanks, Don. Thanks, Rob.
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Don Seitz: Thank you, Jim.
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Don Seitz: as just an aside, I can tell you, as a member of both Princeton Alumni Angels and HBS Alumni Angels I love working with an incredible array of very talented
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Don Seitz: professionals in each of those organizations, it's a personal delight to be involved with both of them.
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Don Seitz: Before we get to the main event.
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Don Seitz: The co organizers thought it'd be really fun to have quick updates from three previous showcase winners showcases that you know came out of this particular.
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Don Seitz: collaboration with HBS and some of the other PEC showcases so pleased to start by introducing Daniel Wilson and Arthur MacWaters.
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Don Seitz: Who were from who are from Legion Health but were last year's winners of the Princeton HBS startup showcase Daniel and Arthur come on board and give us a quick update, please.
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Arthur MacWaters: Absolutely, can you hear me.
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Arthur MacWaters: Yes, perfect sharing my screen now.
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Arthur MacWaters: just wanted to also say it's a.
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Arthur MacWaters: perfect.
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Arthur MacWaters: After we shared.
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Arthur MacWaters: wanted to also thank Don, Jim and the other folks here for having us back, it was a.
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Arthur MacWaters: very encouraging moment to be chosen as audience choice winners last year and I think you gave us a lot of inspiration so.
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Arthur MacWaters: Quick background on Legion Health, Danny, myself and our third co founder Yash founded this company because of
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Arthur MacWaters: Essentially, that the dramatic supply and demand mismatch in the mental health space where you have.
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Arthur MacWaters: Millions of patients who don't have access to mental health services and essentially the root cause is the shortage of clinical availability.
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Arthur MacWaters: By digging into it, we found that actually clinicians did have additional availability, that we could put back into the market if we handled some of the problems.
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Arthur MacWaters: That they faced with typical 1099 and W-2 positions and so Legion Health works is we aggregate the part time extra quote unquote availability.
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Arthur MacWaters: Of therapists and prescribers across all 50 states and we sell that availability back to healthcare organizations that have short staffed.
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Arthur MacWaters: Mental health departments, and right now, our main customer.
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Arthur MacWaters: segment is digital health companies, so when we first presented to this body, about a year ago we had zero dollars in revenue and we were just starting our journey at Y Combinator.
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Arthur MacWaters: After we got out of Y Combinator we had about $3,000 in revenue and excitingly since then, since graduating Y Combinator we've raised.
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Arthur MacWaters: Just a bit more than $3 million dollars and we've grown our revenue from about $30,000 on an annual basis to just shy of 400,000 and it looks like will be around the 500 K.
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Arthur MacWaters: annual rate by the end of September so that's quite exciting we've learned quite a few things along the way, about the B2B sales process, and specifically.
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Arthur MacWaters: Almost more importantly, how to make this a really good experience for the clinicians so.
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Arthur MacWaters: happy to answer any questions about that, but cognizant of time I'll hand it off to Danny to discuss what we're doing on the product side that makes this a good proposition for them, and ultimately allows us increase capacity.
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Daniel Wilson: Thanks Arthur one of the things that we've dived pretty deep into in the past year is working on tooling that will allow clinicians such as.
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Daniel Wilson: psychiatric mental health nurse practitioners psychiatrists therapists those are the primary clinical types that we were both.
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Daniel Wilson: To be more efficient and to spend less of their time on administrative work and more of their time actually seeing patients and pro it Arthur mentioned earlier there's a lot of.
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Daniel Wilson: Unused time and availability that these providers have to see patients, they also spending a lot of their time doing.
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Daniel Wilson: Through everyday tasks that outside of the healthcare world have been solved things like scheduling actually creating an appointment.
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Daniel Wilson: Many of you may be familiar with the fact that it is still rather difficult to schedule an appointment with a health care provider without.
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Daniel Wilson: giving them a call and going through the phone and so that's one of the things that we've prided ourselves in being able to.
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Daniel Wilson: make available as a set of tools to providers who aren't at larger organizations with large tech teams.
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Daniel Wilson: These tools that allow them to spend again more of their time with their patients and less on the back end just organizing their calendar calling back and forth patients.
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Daniel Wilson: Common scenarios spending lots of time talking to the pharmacy or the insurance companies, and so, by taking a lot of that off the table we've been been able to help them kind of focus where they want to spend their time the most and where their time is the most most of the patients.
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Daniel Wilson: So lots of really, really crazy progress it's been a real pleasure working on this thing of the past year hard to believe that it's been a year.
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Daniel Wilson: But just want to thank you guys again don Robin German and the rest of the teams that he is and principal them angels, etc, this is serious look at an awesome experience and that you guys are having us back to talk about those.
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Don Seitz: Daniel and Arthur thanks so much really exciting what you folks have done in a short period of time.
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Don Seitz: Our second update comes from a founder, who was presented a couple of PC showcases and subsequently received a significant investment from the folks at Princeton alumni angels pleased to introduce again Dan Bernstein co founder of we are the new farmers hello, Dan.
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Daniel Bernstein: hi everyone very glad to be presenting today can you guys see my screen oh boy.
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Don Seitz: Yes, we can great.
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Daniel Bernstein: I am Dan Bernstein and CEO and the Co founder of We Are the New Farmers, and I know many of you have.
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Daniel Bernstein: seen us already or know us already, but for those of you that don't here's a refresher on what we do, we are an indoor farming company.
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Daniel Bernstein: Building a network of micro-algae farms to convert today's carbon dioxide into tomorrow's food.
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Daniel Bernstein: Essentially, what that means is we're building a carbon eating machine.
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Daniel Bernstein: We partner with carbon capture companies that's cluster carbon dioxide from the atmosphere, we take that carbon dioxide and we feed it to our micro-algae farms.
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Daniel Bernstein: and using the natural photosynthetic powers of these organisms enhanced with some of our own proprietary methods.
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Daniel Bernstein: were actually able to produce carbon negative premium nutritional products.
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Daniel Bernstein: Now micro-algae like spirulina, for example, it's incredibly protein rich very nutrient dense but the industry today for micro algae is a complete mess.
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Daniel Bernstein: it's entirely dried powder is essentially usually is can taste awful oftentimes contaminated and it's depleted of its nutritional value so we're really trying to change that by reinventing algae from the ground up.
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Daniel Bernstein: With our network of farms across the country we're able to sell fresh and frozen products that tastes much better or unprocessed.
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Daniel Bernstein: open up a whole new world of possibilities for what you can actually do with micro-algae especially compared to the dried counterparts was powders that are already out there.
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Daniel Bernstein: So, since we presented in early 2022 Princeton Alumni Angels and actually got some money from PAA.
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Daniel Bernstein: we've grown our direct consumer business substantially, we want a number of awards, one of the exciting ones here is the FoodTech 500 award which.
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Daniel Bernstein: recognized us as one of the 500 most exciting food tech companies on the planet and our direct to consumer business has been really, really robust, we have very high average order values over half of our revenue comes from the subscriber base.
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Daniel Bernstein: That gets deliveries every single month 68% retention rates that's for our non subscriber customers that's really high for food or CPG we've been very happy with that, thus far.
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Daniel Bernstein: And now we're really in growth mode, so our goal is to get 10 K subscribers in our direct consumer business by year in 2023.
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Daniel Bernstein: We also just launched about 45 days ago our B2B business where we're selling our premium algae products directly to do shops across the country.
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Daniel Bernstein: We have 62 shots on border ready and we just got a letter of intent for a 50 plus to shop chain so it's going really well, I think.
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Daniel Bernstein: And in terms of production, we just broke ground this week on a new facility in California that's really going to be probably where we do the bulk of our growing.
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Daniel Bernstein: it's mostly greenhouse space, but there's also going to be some indoor growing there as well.
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Daniel Bernstein: That facility costs a million dollars roughly to build but it's a between seven and $10 million revenue capacity facility.
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Daniel Bernstein: or margins around 58% so pretty healthy payback period on that facility and then most excitingly, in my opinion, we are planning and beginning build out of a micro algae discovery Center.
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Daniel Bernstein: Which is completely grant funded on Governors Island right off the southern tip of Manhattan.
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Daniel Bernstein: that's Center will be able to host visitors there over a million visitors a year to Governors Island and it's really going to be a showcase for the potential food in the fight against climate change.
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Daniel Bernstein: We are working with Senator Schumer, Mayor Eric Adams, Congressman Jerry Nadler now there are a number of funding agencies on that front so that's can be really exciting hopefully that'll be done in about a year's time.
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Daniel Bernstein: Right now we're finalizing tunes on our seed round, we have a couple offers from lead investors can be a $4 million raise.
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Daniel Bernstein: And that's going to facilitate your marketing expansion product expansion facility expansion, that I talked about, and if you want to talk about that I.
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Daniel Bernstein: invite you to get in touch with me again, my name is Dan, We Are the New Farmers, you can email me at Dan at new dash farmers com.
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Daniel Bernstein: And I think I just got this up and running right before this started, you can use the code ANGEL25 for 25% off on our website new dash farmers com, if you want to try premium spirulina products that tastes really good it can boost your smoothie.
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Don Seitz: and
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Don Seitz: Thanks so much Dan really exciting progress as well.
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Don Seitz: And our third and last update is coming from the winner of the Princeton HBS showcase back in 2019 Alexander Asante of BoxPower.
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Don Seitz: Go ahead.
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Alexander Asante: yeah thanks Don as Don just said, my name is Alexander I'm representing BoxPower we manufacture turnkey rapidly deployable micro grid systems.
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Alexander Asante: And with regards to what the current problem is that greatest failing and it's bad raw energy consumers like safe, reliable and affordable solutions, and if you do live in California.
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Alexander Asante: You know that there's been a lot of wildfires just burning down the whole great infrastructure, making it very expensive for the traditional you to it is to be able to harden these wires every single year.
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Alexander Asante: So.
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Alexander Asante: We see that the future of the utility system is going to be distributed resilient and hopefully renewable and box far is essentially the first mass produce micro grid.
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Alexander Asante: So our core market right now is the California utility on micro grids where we've been able to get enough projects with pg&e sc sdg&e and liberty utilities, they began something called the remote great initiative, where they are basically.
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Alexander Asante: transitioning rural customers to do on micro grid units so essentially instead of spending millions and millions of dollars to.
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Alexander Asante: hide in the distribution lines to differ our customers are purchasing box by units to be able to have these customers have their own decentralized great.
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Alexander Asante: And as you can see from the quotes on the screen it's costing them know about $2 million per mile for utilities to be able to hide it this fire so box by it's a cheaper alternative for them so with regards to what the current status quo is, if you want to have a custom micro grid.
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Alexander Asante: clients as a toxin energy consultants get some sort of energy audits and then they develop a house order from.
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Alexander Asante: or a an equipment manufacturer and then probably have some sort of monitoring system on the ground for you to be able to look at the performance of your system box I replaces all of that, and essentially simplifies the whole grid micro grid.
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Alexander Asante: So we make an edge as easy as 123 so starting from a softer optimized design to a tank he prefabricated hardware and cloud control and oppression software, we provide you know clean and reliable energy as a service.
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Alexander Asante: So the way it looks like is, we have a software platform that we call easy energy audits and system integration that enables us to quickly translate and it needs be it's great title upgrades.
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Alexander Asante: And then essentially recommend one of our turnkey hardware systems to them.
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Alexander Asante: And to performing you know everything that a traditional audit firm will charge you, you know 10s of thousands of dollars for in you know, the matter of hours.
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Alexander Asante: And then, after we have this recommendation we essentially build our integrators solar battery and generate a systems that you could set up in you know a few hours.
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Alexander Asante: So we have like from the mini box multi box systems that we've been you know shipping out and we've deployed about 40 micro grids since inception are present in 2016.
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Alexander Asante: So we also have a modular elegant energy management system means that enables us to be able to control sort of a fleet of micro grids and then perform great services, and it has DPP capabilities.
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Alexander Asante: So why do customers like us what's by essentially tends the contract process of having a micro grid into a simple products.
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Alexander Asante: we've made purchasing Michael grades like adrienne bagels from panera essentially pick your top ends and then you can have a microwave delivered to your House.
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Alexander Asante: So, in terms of traction with this year we've closed about $10 million in contracts between pg&e and SCI fi and we have $20 million in commented backlog and let off intense science and about 20 million plus in in our pipeline.
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Alexander Asante: And with regards to fundraising we've raised about $3.2 million in equity raised about $1.8 million in grants and we currently closed in a $7 million series day.
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Alexander Asante: So yeah founded by you know Angelo Campus at Princeton in 2016 BoxPower is hoping to make the future of the utility or decentralized. Thank you.
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Don Seitz: Alexander thanks so much love to hear about that incredible market traction that you've achieved and.
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Don Seitz: Now let's get on to the main event after those wonderful updates.
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Don Seitz: As I moved to a new slide here.
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Don Seitz: So what we're going to do now is introduce in succession six of the selected startups they will each present for six minutes and then take questions from the judges panel.
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Don Seitz: At the conclusion they're actually going to be two votes conducted one by you in the audience that will be the audience choice winner will do that by a zoom pole.
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Don Seitz: At the same time, the judges will convene separately and pick the overall showcase winner.
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Don Seitz: And then, at the conclusion of the entire showcase we're going to set up a new zoom room details to follow as to how to enter that room, at which time you can engage one on one with one or more of the founders, each of whom will be hosting one of those breakout rooms.
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Don Seitz: i'm also really pleased to I referenced the panels you've met a couple of these folks already, but from princeton alumni angels, we have both Christine brownback and rob walk.
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Don Seitz: Who will be judging and from HP s alumni angels you met Jim Sherman joining Jim will be Allah GAM bird so without further delay, I am very pleased to introduce rebel law and CEO of Intel i've been taken away.
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Evan Zhao: Oh hi everyone.
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sorry if I.
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Evan Zhao: I think the needs of.
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Evan Zhao: Just needs yep sorry.
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Evan Zhao: Well, first off, thank you for everybody for coming here, we want to apologize sort of weird paintings in the background, were at a conference in Vegas right now and I guess they're very traditional Vegas paintings so we're Avi and Evan were the founders of Ravello.
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Evan Zhao: I was a Grad student at Princeton from.
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Evan Zhao: I was an undergrad graduate in 2021 yeah so we're really excited we know each other from Princeton so we're really excited to be here and represent kind of our time period so.
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Evan Zhao: Revela is a half biotech half consumer goods company and our core technology is using Ai and synthetic biology to discover new drugs Greens.
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Evan Zhao: And so, my first slide is always, this is what we do, and this is why we're different so.
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Evan Zhao: For all of human history we've had to work with this limited subset of ingredients, known as natural products.
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Evan Zhao: These are things that plants Easter bacteria make to kill each other or to communicate with each other, but none of them have evolved, for you know you'd be healthier you'd have more hair, you have better skin.
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Evan Zhao: And unfortunately over the last 200 years we now have access to over 3 billion synthesizer ingredients that thanks to synthetic chemistry.
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Evan Zhao: And we just haven't really had great methods to search through this space.
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Evan Zhao: So it takes a traditional pharma company or beauty company five to 10 years to discover any molecule now with Ai and our new technology and Sunday biology of phenotypic screens, we can now.
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Evan Zhao: shorten this to a couple of months, and so that's our core technology and now i'll tell you why we're doing what we do so, our first market that we entered was actually female hair loss, and the reason was we took it.
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Evan Zhao: We took a look at the space and we took a look at the three options available to women.
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Evan Zhao: Especially Women that have had hair in the past and are slowly losing it the first solution is you know from the 1950s.
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Evan Zhao: It isn't minoxidil it has terrible side effects causes shutting in the beginning, and it burns your scalp most of the time.
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Evan Zhao: The second solution is finasteride, this is a it's also called propecia is a solution, mostly for male pattern baldness but it'll work for a small portion of women, it was also discovered in 1982.
00:25:58.830 --> 00:26:06.240
Evan Zhao: And it was originally discovered, not for this use case and then the third solution on the market are overpriced vitamins, so you can pay.
00:26:06.870 --> 00:26:15.150
Evan Zhao: You know not going to name any names, but you can pay pay 50 to $80 a month on basically vitamins that you can get from eating apples, or just eating multivitamins.
00:26:15.630 --> 00:26:18.660
Evan Zhao: And so we really thought that this is a space where we can make a direct impact.
00:26:19.140 --> 00:26:23.220
Evan Zhao: You know, we knew each other, because we used to work on drug discovery together for cancer and other things.
00:26:23.490 --> 00:26:37.800
Evan Zhao: But we thought this was really a space where we could directly impact the consumers and really changed the way that women felt about themselves, these are very large markets and and a lot of women suffer from hair loss currently there's about 30 million in United States alone.
00:26:39.570 --> 00:26:41.400
Evan Zhao: So a little bit about our science.
00:26:42.720 --> 00:26:53.430
Evan Zhao: A little bit about our science, so we did a screen, where we took follicles and we took the cells that make the follicles grow We grew up in a petri dish we tried to find different ingredients, I can help.
00:26:54.060 --> 00:27:04.260
Evan Zhao: increase the growth of these follicles you know, through a mix of Ai and psychology we eventually found one that we named purse l&l because the real chemical name is scary for consumers.
00:27:04.710 --> 00:27:16.620
Evan Zhao: So we did name it for selling ill and What it does is every day and increases the daily follicle growth by about 50% we did a clinical trial on it and 97% of the women so take a fuller looking here.
00:27:18.540 --> 00:27:20.460
Evan Zhao: And these are some before and afters on the right.
00:27:21.870 --> 00:27:33.810
Evan Zhao: So we did launch in November of 2021 we didn't do any ads until this year and I think we've been growing pretty well, so we are currently over $300,000 of monthly revenue.
00:27:35.250 --> 00:27:44.880
Evan Zhao: We our customers do like us, so we have about a 50% three months repeat purchase rate that should be higher, but we haven't been on the market for so long and.
00:27:45.720 --> 00:27:50.070
Evan Zhao: One of the main things that we're proud of is we're really trying to build a brand here, because we also think.
00:27:50.460 --> 00:27:58.950
Evan Zhao: Science is great that's great to deliver better products, but the true value in what we're doing is delivering a brand that people can trust we really want to become someone that.
00:27:59.400 --> 00:28:04.560
Evan Zhao: You know people think hey I have skincare problems I have different things happened in my body I should look at what rubella has first.
00:28:04.890 --> 00:28:16.710
Evan Zhao: And so, one of the major things that I put on the slides is the mass maximum discount rate offered because we're not trying to be a discount brand the maximum we give off is 15% and that's because we really think brand equity is important.
00:28:18.450 --> 00:28:29.010
Evan Zhao: awesome so we're not just a hair care company we're launching a lot of other things in our pipeline for next year, we have an ingredient that's about 10 times better than Retinal or the retinoid trend knowing.
00:28:29.940 --> 00:28:39.720
Evan Zhao: It increases daily fibroblasts growth and it doesn't have any of the side effects it doesn't cause any of the burning on your skin, we also have something that will reverse hair growing.
00:28:40.530 --> 00:28:46.980
Evan Zhao: On top of your head, so it can take a Gray hair and turn it back into a black around here, and unfortunately can't take a white hair and turn it back.
00:28:47.460 --> 00:28:54.780
Evan Zhao: Because at that point, the Milena sites are dead, and then we also are working on an eczema solution or an itching solution.
00:28:55.230 --> 00:29:05.820
Evan Zhao: So we have a lot of things in our pipeline and it doesn't it's not really limited to here also we have other things that includes supplements for muscle growth liver, health and a lot of other things.
00:29:06.450 --> 00:29:12.510
Evan Zhao: And so i'll just share a slide on our team I think what really separates us from every other companies, we are scientist by training.
00:29:13.050 --> 00:29:20.130
Evan Zhao: Obvious the most talented computer scientists i've ever met in my life and among other members of TEAM we have first other publications in nature and science.
00:29:20.670 --> 00:29:27.930
Evan Zhao: From the people doing the full time research, not just advisors and we've been awarded lots of scientific research grant funding in the past.
00:29:28.290 --> 00:29:36.570
Evan Zhao: We also have really incredible TEAM members who have successful launch brands and they've really helped us reach our first customers they've.
00:29:37.050 --> 00:29:46.110
Evan Zhao: Previously sold over $10 million of revenue before and to have very influential instagram accounts, including Evelyn from our team, who has over 2 million followers overall.
00:29:47.220 --> 00:29:50.850
Evan Zhao: And that is our entire pitch i'm really happy to answer any questions.
00:29:52.110 --> 00:29:52.980
Evan Zhao: And thank you all for listening.
00:29:54.120 --> 00:30:05.010
Don Seitz: Great presentation gentlemen i'm going to ask now before judges to come on screen, who will ask a few questions and the remaining time, I think, starting with rob but go ahead robb.
00:30:05.400 --> 00:30:20.430
Rob Wolk: Yes, Evan first of all thank you for that great presentation on my first question is, how are you regulated, are you regulated so cosmetic brands, are you regulated as a you know pharmaceutical because of certain health.
00:30:21.540 --> 00:30:30.060
Rob Wolk: Criteria and efficacy and safety so highly regulated, and do you have any specific IP that's protective or and I any IP that we can talk about.
00:30:30.360 --> 00:30:31.320
Evan Zhao: Definitely so.
00:30:31.650 --> 00:30:40.380
Evan Zhao: i'm already going so that's the first kind of everybody else, so the FDA classifies as as a cosmetic anything on the outside of your body, you can sell as a cosmetic.
00:30:41.070 --> 00:30:50.880
Evan Zhao: We have done a lot of medicinal chemistry to optimize the lead ingredients and we do have plans to submit those to the FDA with the right potential pharmaceutical partners that's a very expensive process.
00:30:51.810 --> 00:30:58.410
Evan Zhao: So we have plans to go down that route as well, everything that you eat, you have to get something called a new dietary ingredient approval.
00:30:59.070 --> 00:31:10.380
Evan Zhao: So no muscle growth sleep all the other things that we're working on, we do need to go through the FDA in something called a new data ingredient provo it takes about a year to get through that and it costs around one to $5 million.
00:31:11.760 --> 00:31:12.810
Evan Zhao: The second question.
00:31:14.010 --> 00:31:14.520
Evan Zhao: i'm sorry.
00:31:16.140 --> 00:31:19.770
Rob Wolk: yeah just intellectual property or you finally have an intellectual property.
00:31:20.130 --> 00:31:33.450
Evan Zhao: yep so for every project that we get we get around 50 to 70 hits, and so we had an auto has all of those hits that's part of the business model is we don't just patent that one ingredient for hair growth we had everything else that we could potentially get.
00:31:34.500 --> 00:31:42.060
Evan Zhao: And those are method we use pens for these completely novel ingredients that have existed, because synthetic chemists have made them for.
00:31:42.600 --> 00:31:49.950
Evan Zhao: But really haven't been used for anything else for and if they're specifically for hair growth skincare and the specific things that we found it for.
00:31:50.310 --> 00:31:52.140
Rob Wolk: Free Thank you very much yeah.
00:31:54.300 --> 00:32:02.190
Ayala Gamburd: Thank you, great presentation very ambitious and solving all key issues very proud of you.
00:32:03.630 --> 00:32:08.010
Ayala Gamburd: The questions I have are around your strategy.
00:32:09.330 --> 00:32:14.460
Ayala Gamburd: Given that these new sets of new molecules are available to everyone now.
00:32:15.480 --> 00:32:24.210
Ayala Gamburd: you're going to enter a competition state with all new startups and all your companies that have access to all the same molecules that you have.
00:32:24.870 --> 00:32:38.640
Ayala Gamburd: My question is, why not sell the technology and partner, instead of developing each vertical why don't you partner with the right companies and the right spaces and just sell your technology.
00:32:39.240 --> 00:32:54.930
Evan Zhao: Definitely, so we we do we have patented are specific molecule so you know, like l'oreal can't just take a molecules and use it, because we have the right to sue them thanks depends, but I do appreciate the point on B2B we are.
00:32:56.130 --> 00:33:08.370
Evan Zhao: You know, we would like to establish ourselves as a friend, because we do think that part of the issue with society is that scientists don't spend the time to directly communicate with everyday people, and that is part of the reason we started the company.
00:33:09.510 --> 00:33:17.220
Evan Zhao: And so we really want to take time to build the brand we do think that one of the biggest benefits of our company is, we have a lot of lead ingredients that do a lot of different things.
00:33:17.520 --> 00:33:29.970
Evan Zhao: And we can partner with different companies to increase our brand awareness so if we partner with someone like gnc for muscle growth that we basically get free advertising from gnc and we're actively looking for those types of partnerships.
00:33:30.930 --> 00:33:31.380
Ayala Gamburd: Thank you.
00:33:33.720 --> 00:33:42.600
Jim Sherman: Thanks seven thing and i'll be thanks very much a very impressive degree of progress that you've made, certainly with hair growth, I mean that is certainly.
00:33:43.980 --> 00:33:53.400
Jim Sherman: You know nirvana people find a way to regenerate lost hair and so, certainly, it seems that you are in terms of your biotech solutions.
00:33:53.730 --> 00:34:03.900
Jim Sherman: Gaining some very good traction on this, but following up what I Yala was saying, I am concerned that these are very large segments and i'm wondering if.
00:34:04.560 --> 00:34:17.340
Jim Sherman: If you're trying to be both scientific solutions company and at the same time, building a brand one can build a very large brand just in the in the in the business of hair growth.
00:34:17.670 --> 00:34:27.450
Jim Sherman: Just that alone that's a very large market opportunity but you're outlining several different domains to to target.
00:34:27.810 --> 00:34:39.780
Jim Sherman: And I think it's a very ambitious product roadmap, so I do want to come back on that strategy if you feel that this is the right way to go, given that it's going to require a great deal of marketing resources.
00:34:41.040 --> 00:34:52.680
Evan Zhao: Sure So the first thing is based on our marketing and our tax customer acquisition costs for people we are profitable off the first purchase and so all of our marketing we get more money in than we actually spend on it.
00:34:53.280 --> 00:35:01.440
Evan Zhao: So you know, obviously we have to redo that entire segment for every single new vertical on but we're confident that we can build a marketing engine.
00:35:01.770 --> 00:35:05.400
Evan Zhao: and reach economies of scale for all of these different products.
00:35:05.970 --> 00:35:14.730
Evan Zhao: But I We really do appreciate the fact that, first of all brand dilution for hair and skin people might get confused at you know why is this company with both hair and skin.
00:35:15.240 --> 00:35:25.140
Evan Zhao: So we are kind of taking a multi channel approach so we're going to probably launch some of our products, a day to see, but some of them will be launched.
00:35:25.440 --> 00:35:32.730
Evan Zhao: Direct to other businesses so we'll have some licensing deals, and the only requirement that we have is that all of the products say powered by Ravello.
00:35:32.970 --> 00:35:43.110
Evan Zhao: that's our strategy is as long as people can see that we were behind the science, we can start building customer awareness and get really, really cheap customer acquisition costs.
00:35:43.380 --> 00:35:46.980
Jim Sherman: Excuse a quick follow up are you relying primarily on Facebook marketing.
00:35:47.820 --> 00:36:03.030
Evan Zhao: So do we do a mix of Facebook Google and a lot of other omni channel approaches, but yeah Facebook has been really bad, until recently, so you know we're pretty happy to announce that we have figured out slightly, but.
00:36:04.650 --> 00:36:06.150
Evan Zhao: Mostly paid ads is what we do.
00:36:06.870 --> 00:36:10.350
Don Seitz: Thank you very much rebel a great presentation.
00:36:11.730 --> 00:36:26.520
Don Seitz: look forward to the votes at the end of the six presentations i'm very pleased to move on to introduce the CEO of waverly diagnostics on a Enescu stole Hello Anna.
00:36:26.850 --> 00:36:29.430
Arna Ionescu Stoll: Hello Thank you so much for having us today.
00:36:33.840 --> 00:36:45.210
Arna Ionescu Stoll: So really excited to share what we're up to at waverly with with with everybody today waverly really comes out of this huge shift and care delivery out of coming out of the pandemic.
00:36:45.840 --> 00:36:51.090
Arna Ionescu Stoll: telehealth is here to stay and there are pockets of the population that are particularly attuned to Tele health.
00:36:51.450 --> 00:36:59.640
Arna Ionescu Stoll: and parents of young kids are one of those populations parenting is chaotic enough so basically having anything to make it easier is great.
00:37:00.300 --> 00:37:04.620
Arna Ionescu Stoll: The problem with telehealth for pediatrics is that you really can't do it most of the time.
00:37:05.100 --> 00:37:13.110
Arna Ionescu Stoll: kids are not very good at articulating their symptoms and without physical exams you really can't get very far in a Tele health visit.
00:37:13.770 --> 00:37:18.690
Arna Ionescu Stoll: Now there are companies that are trying to build tools for remote diagnostics like Tytocare.
00:37:19.020 --> 00:37:23.040
Arna Ionescu Stoll: But the business models are really challenging they're basically creating standalone hardware.
00:37:23.370 --> 00:37:33.750
Arna Ionescu Stoll: asking people to spend a lot of money up front for something they might need at some point in the future, and then, when they need it, they have to find where they put it, and they have to figure out how to use an unfamiliar device.
00:37:35.250 --> 00:37:43.770
Arna Ionescu Stoll: there's a much better approach and that's using the devices that we already have in our pockets or cell phone cell phones have evolved to have incredibly sophisticated onboard sensors.
00:37:44.160 --> 00:37:53.010
Arna Ionescu Stoll: And we can use those for medical diagnostics and so at Wavely what we're doing is we're building a suite of smartphone based medical diagnostics focused on pediatric care.
00:37:53.430 --> 00:38:04.170
Arna Ionescu Stoll: And we've identified a suite of four Apps that together will enable us to shift 69% of acute pediatric visits into the virtual context.
00:38:04.800 --> 00:38:07.230
Arna Ionescu Stoll: So that's where we're heading but let's talk about where we're starting.
00:38:07.680 --> 00:38:13.050
Arna Ionescu Stoll: So the place we're starting is one of the main reasons kids go to the doctor, which is ear infections that affects most kids.
00:38:13.260 --> 00:38:26.400
Arna Ionescu Stoll: And it accounts for 30 million appointments a year in the US and today almost none of these 30 million appointments can be done over Tele health, you can get most of what you need over Tele health, but you can't get the key finding of the physical exam which is is their middle ear fluid.
00:38:27.480 --> 00:38:34.890
Arna Ionescu Stoll: Now there's a technology called acoustic reflect Thomas you that was developed a while ago you basically bouncing acoustic sound wave off the eardrum pick up the reflection.
00:38:35.250 --> 00:38:43.470
Arna Ionescu Stoll: And, based on the shape of that reflection, you know if there is fluid or not behind the eardrum now our two innovations are two number one implement.
00:38:43.860 --> 00:38:52.830
Arna Ionescu Stoll: This technology on a cell phone platform, and we have the patents for that and number two to use a machine learning classifier to actually determine if the shape is indicative of fluid or not.
00:38:53.460 --> 00:38:57.930
Arna Ionescu Stoll: And these two things together, result in two things number one it's highly accessible.
00:38:58.320 --> 00:39:04.260
Arna Ionescu Stoll: it's there whenever you need it, there is a paper funnel that you have to tape on to the bottom of the phone and right now.
00:39:04.560 --> 00:39:09.540
Arna Ionescu Stoll: As a marketing hook, we are making these funnels and sending them out on our roadmap not too far away.
00:39:09.870 --> 00:39:14.310
Arna Ionescu Stoll: Absolutely you'll be able to make the paper funnels at home, out of whatever paper you have lying around.
00:39:14.700 --> 00:39:23.460
Arna Ionescu Stoll: So you can basically have it there, whenever you need it and number two our machine learning classifier make it much more accurate than the legacy acoustic reflect tama tree devices.
00:39:23.820 --> 00:39:32.580
Arna Ionescu Stoll: A clinic an interim clinical analysis, we did showed much higher sensitivity and specificity than what the 510 K had for the legacy devices on the prior page.
00:39:33.090 --> 00:39:38.310
Arna Ionescu Stoll: And by the way, both of these are more accurate than a physician looking into a kid's ear.
00:39:38.910 --> 00:39:47.130
Arna Ionescu Stoll: So, if you look at the at the landscape of products on the left, you have you have products that are basically ways to look at the eardrum.
00:39:47.580 --> 00:39:57.330
Arna Ionescu Stoll: And those are not very accurate, so if the physician is 51% accurate once you get into the home context, this is a great example of you know not really it's not really a great.
00:39:57.840 --> 00:40:12.180
Arna Ionescu Stoll: A great opportunity to take the exact same tool that a clinician is using and trying to put it in the parents hands, who are untrained because you have to get the angle just right, you have a scorpion kid you have earwax that you can't clean clean out and we have been talking to.
00:40:13.650 --> 00:40:19.350
Arna Ionescu Stoll: You know hospital systems that i've been trying to evaluate at home digital Otis scopes and they just don't work.
00:40:20.040 --> 00:40:24.300
Arna Ionescu Stoll: On the right, you have companies that are using novel acoustic techniques to interrogate the middle ear.
00:40:24.570 --> 00:40:33.870
Arna Ionescu Stoll: But we're the only ones really focused on the home setting and really focused on bringing ear infection into that home setting everybody else's creating expensive hardware for you so in a clinical setting.
00:40:35.130 --> 00:40:42.720
Arna Ionescu Stoll: Now our go to market strategy is the classic B2C to be strategy that pretty much every single digital health company is following, you start.
00:40:42.960 --> 00:40:55.290
Arna Ionescu Stoll: With a B2C play you start with a direct to consumer product to basically move quickly to get some early traction to show market pool and to generate your first kind of real world usage data.
00:40:55.860 --> 00:41:00.480
Arna Ionescu Stoll: that's that's where you start and the value proposition there for us is very strong basically.
00:41:00.690 --> 00:41:09.240
Arna Ionescu Stoll: You know we're telling a parent, you can manage the ear infection now in the next 10 minutes you don't have to cancel half a day at work, you don't have to bundle up your sick and cranky kid just get it done with.
00:41:09.900 --> 00:41:16.470
Arna Ionescu Stoll: The idea that is to move into the B2B market where you get the real growth, but you need that B to C data in order to unlock that.
00:41:16.800 --> 00:41:25.050
Arna Ionescu Stoll: And the value proposition, there is care delivery cost savings so every every player in the health care system pretty much as you're looking for ways to increase utilization.
00:41:25.440 --> 00:41:35.340
Arna Ionescu Stoll: of digital care of virtual care, and the reason for that is because it's much more cost efficient, you have way lower lower no show rates, you can do more visits in the same amount of time.
00:41:35.640 --> 00:41:47.370
Arna Ionescu Stoll: Over time, you can reduce your physical footprint and staffing as well, and so the idea, there would be that parents call up with a suspected ear infection and instead of being booked into a brick and mortar clinic they get booked into a.
00:41:48.060 --> 00:42:00.780
Arna Ionescu Stoll: into a virtual into a virtual visit, so we think this gets pretty big pretty fast, given the the pool that market pool that we're getting if anybody's interested in the breakout session we can talk about unit economics, we can talk about customer journey.
00:42:01.800 --> 00:42:11.070
Arna Ionescu Stoll: But that's not where we're stopping, as I said at the beginning, our goal is to shift 69% of acute pediatrics visits into the virtual setting and so we've identified four Apps.
00:42:11.460 --> 00:42:16.680
Arna Ionescu Stoll: that together we think will achieve that will basically provide that key finding have a physical exam.
00:42:17.340 --> 00:42:29.250
Arna Ionescu Stoll: Starting with acute and then moving into chronic, which is a different business model, which is why we're doing the acute ones first so that is what Wavely is up to, and I would love to take questions.
00:42:30.090 --> 00:42:35.910
Don Seitz: Are thanks so much i'll ask the judges to come back online for those questions.
00:42:37.980 --> 00:42:43.020
Rob Wolk: pretty well, first of all I want to thank you for a terrific presentation obviously you're.
00:42:43.590 --> 00:42:56.130
Rob Wolk: Working pediatric health and tele health it's such an important and necessary areas so kudos for that, and my question is regarding accuracy of home diagnostics fan APP and a phone.
00:42:56.970 --> 00:43:00.510
Rob Wolk: versus actually a doctor in an office using.
00:43:00.630 --> 00:43:09.540
Rob Wolk: An otoscopic examination and what sort of sensitivity and specificity sort of data and accuracy data, and do you have or have you.
00:43:09.840 --> 00:43:28.110
Rob Wolk: Determined with your app relative to what a clinician in a pediatrician's office would achieve and what levels of sensitivity specificity specificity, especially accuracy, do you need to be able to implement this and have providers, you know, especially in the B2B setting adopt this.
00:43:28.380 --> 00:43:35.640
Arna Ionescu Stoll: yeah absolutely so it's really important that we're able to express accurately what our sensitivity and specificity are.
00:43:35.940 --> 00:43:42.600
Arna Ionescu Stoll: And so the way we've actually collected that data is by going to ground truth with myringotomy and so children who are.
00:43:43.050 --> 00:43:50.160
Arna Ionescu Stoll: Going into myringotomy, which is when you do an incision and the eardrum we're actually doing the Wavely tests on them and then.
00:43:50.700 --> 00:43:59.910
Arna Ionescu Stoll: And then the surgeon is visually assessing whether there's fluid, so we know that our sensitivity and specificity are being compared against ground truth and not against a proxy device.
00:44:00.240 --> 00:44:07.590
Arna Ionescu Stoll: because the problem is every device that's being used in the clinic has a margin of error some higher others lower right if you go into an auto.
00:44:08.370 --> 00:44:15.840
Arna Ionescu Stoll: otolaryngology clinic your margin of error will be lower but you still have one and so we're going to ground truth for our sensitivity and specificity.
00:44:17.580 --> 00:44:25.380
Arna Ionescu Stoll: There is a fairly well established paper from about 15 years ago but pichichero that basically cites this 51%.
00:44:26.190 --> 00:44:30.360
Arna Ionescu Stoll: accuracy metric that a physician a pediatrician looking in.
00:44:30.750 --> 00:44:41.850
Arna Ionescu Stoll: A doctor looking in a child's ear is actually not very accurate at at identifying middle ear fluid, they can see information they can see redness they can see earwax but actually identifying middle your fluid.
00:44:42.180 --> 00:44:51.060
Arna Ionescu Stoll: is not that accurate, which is why you have this this group of companies that have emerged, to have a more accurate way of actually identifying middle ear fluid.
00:44:51.870 --> 00:44:59.010
Arna Ionescu Stoll: And so, our sensitivity and specificity in our interim clinical analysis, I think it was 86 and 94.
00:44:59.760 --> 00:45:07.020
Arna Ionescu Stoll: We have biased the classifier towards specificity, because we want to avoid false positives we don't want to tell the physician that there is.
00:45:07.290 --> 00:45:11.670
Arna Ionescu Stoll: fluid when there isn't because that would potentially lead to an antibiotic prescription that we want to avoid.
00:45:12.270 --> 00:45:26.460
Arna Ionescu Stoll: And so you know we have that's where we're starting and we are actually planning to do another clinical validation study kind of early next year, and we believe that our sensitivity and specificity will both be in the 90s, at that point great.
00:45:26.580 --> 00:45:27.240
Rob Wolk: Thank you very much.
00:45:28.140 --> 00:45:31.050
Christine Brumback: i'm going to jump in, so I think I was sustainable for rob actually on this round.
00:45:32.640 --> 00:45:47.010
Christine Brumback: couple questions Where are you in product development stage and how far How far do you think you are moving in market and i'm assuming FDA clearance as part of this, if so, how do you imagine that will how complicated do you have do you picture that being for this.
00:45:47.430 --> 00:45:53.400
Arna Ionescu Stoll: So we are class to exempt under the pto product code, so what that means is we build it like a classroom medical device, but then.
00:45:53.700 --> 00:46:02.010
Arna Ionescu Stoll: We don't have to actually submit to the FDA there's there's no 510 K it's it's more like we list like a class one but we're a class too so it's a relatively new pathway.
00:46:02.640 --> 00:46:08.250
Arna Ionescu Stoll: We are anticipating to be listed with the FDA by ear infection season this fall.
00:46:08.850 --> 00:46:18.390
Arna Ionescu Stoll: And so we you know our strategy, and we can talk about it more in the breakout session is called crawl walk run, and so we have a couple of really dynamite pilots lined up.
00:46:18.990 --> 00:46:21.390
Arna Ionescu Stoll: As soon as we have that FDA listing in September.
00:46:21.990 --> 00:46:31.950
Arna Ionescu Stoll: To basically look at a couple different use cases with product and then from there, we will be expanding, we have a sign up on our website for early access families that want.
00:46:32.280 --> 00:46:42.870
Arna Ionescu Stoll: That want to use waverly and we get at least one sign up a day and that's been with zero marketing we haven't we haven't done any yet so once we turn that on we expect that to increase as well, so.
00:46:43.500 --> 00:46:53.190
Arna Ionescu Stoll: class to exempt expect to be in the market for ear infection season, though we're going to take it slow this year just to make sure that everything is right and then we'll start running card next year.
00:46:53.940 --> 00:46:59.040
Don Seitz: Are not thank you very much, wonderful information and just a great.
00:47:01.020 --> 00:47:20.190
Don Seitz: insight into the use of telehealth solutions so like we've had a couple of founders in the health tech space we now move to the HR tech space pleased to introduce Steve incognita CEO of exponent Hello Steven.
00:47:21.180 --> 00:47:26.100
Stephen Cognetta: Either i'm trying to turn on my video better than it's been turned on for me.
00:47:28.380 --> 00:47:33.690
Stephen Cognetta: cool kinfolk see my screen there we go yes cool.
00:47:35.070 --> 00:47:48.060
Stephen Cognetta: awesome okay cool i'm just gonna run through this slide deck and super excited to be here first off I can't see everyone, but if you're at home i'd love for you to raise your hand virtually on who here has gotten any job and thought it was easy to get.
00:47:49.470 --> 00:47:58.350
Stephen Cognetta: I would expect very few hands raised and then my next question would be who here is has actually stopped looking for a job because they thought it was too hard to get a new one.
00:47:59.460 --> 00:48:05.670
Stephen Cognetta: And again i'm assuming that too many are going to be raising their hands I can't see anyone so i'll just assume that nosers their hands.
00:48:06.030 --> 00:48:14.580
Stephen Cognetta: And then, lastly, and not to duck on pittston but like who's your fault, prepared from your college education on how to search for jobs and negotiate for jobs or how to interview for jobs.
00:48:15.570 --> 00:48:18.660
Stephen Cognetta: And that's kind of the problem that we're talking about here today with exponent so.
00:48:19.290 --> 00:48:22.890
Stephen Cognetta: exponent we help people man dream jobs in tech by putting the candidates first.
00:48:23.190 --> 00:48:34.380
Stephen Cognetta: And we're an all in one interview prep platform, and we have shown studies and studies have shown, actually, that anxiety is one of the biggest predictors to career success, especially in the interview process and we want to change that.
00:48:35.160 --> 00:48:42.150
Stephen Cognetta: Are those just at a high level, we see that hiring managers are also struggling to 90% of hiring managers find it difficult to hire tech talent.
00:48:42.540 --> 00:48:47.430
Stephen Cognetta: And so what we want to do is when I help people throughout their career, starting with the interviews but going on from.
00:48:48.030 --> 00:48:54.240
Stephen Cognetta: Getting job referrals advancing in their career and more than that, as well, and we started with the interview prep is one of the biggest pain points.
00:48:54.960 --> 00:49:00.390
Stephen Cognetta: Just like a rough market size kind of estimate so justin engineering alone decent number of us tech jobs.
00:49:00.900 --> 00:49:10.260
Stephen Cognetta: We assume that we can get at least two to three $5 million total addressable market but i'm in total of the entire tech ecosystem it's a $630.
00:49:10.650 --> 00:49:12.150
Stephen Cognetta: million dollar addressable market.
00:49:12.420 --> 00:49:23.370
Stephen Cognetta: And that doesn't include what we want to do later on where we think about not only helping people with your interviews but helping people after you get the job advance your career, and so what we what we do right now and we'll show you just a second.
00:49:23.820 --> 00:49:33.780
Stephen Cognetta: is really help people both interview successful for the for the job first and then our strategy is in the future, two years we're going to be helping people advanced the career as well and kind of staying with them throughout their career.
00:49:34.560 --> 00:49:42.240
Stephen Cognetta: What have you seen in the market is just not really a candidate side support system for someone advancing their career and colleges just honestly don't help you enough.
00:49:42.780 --> 00:49:50.490
Stephen Cognetta: um so here's what our product actually looks like it's an interview prep platform, we have 40 plus courses over 200 plus videos and a personalized dashboard help you get ready.
00:49:50.670 --> 00:49:56.310
Stephen Cognetta: And we're producing new verticals rapidly to help people with different roles like product marketing product management, etc.
00:49:57.090 --> 00:50:01.680
Stephen Cognetta: We also have a team of over 40 plus expert coaches, a lot of them from princeton.
00:50:02.040 --> 00:50:09.570
Stephen Cognetta: My co founder and I are both both from France and, by the way, on and we we kind of tailor these sessions to help you advance your career this little higher price point.
00:50:10.290 --> 00:50:17.130
Stephen Cognetta: We also have an interview database that grows their Community what we've identified is that Community engagement is a really important lever for the growth.
00:50:17.370 --> 00:50:30.180
Stephen Cognetta: Of someone's career and it's not just an educational like a kind of people from down top down, but also your peers helping you as we've built in interview question database and the forum to help people where they kind of engage with each other in various ways.
00:50:31.470 --> 00:50:39.270
Stephen Cognetta: And then, lastly, we you know driving that Community feature forward, we also acquired this tool pram, which is a peer to peer market of new marketplace.
00:50:39.540 --> 00:50:47.790
Stephen Cognetta: So the idea is the best way to get ready is to practice and every day at certain times you can join the sessions and get matched to the practice part of new practice sessions.
00:50:48.030 --> 00:50:51.330
Stephen Cognetta: And over 12,000 interviews happen every month on these life practice tools.
00:50:51.750 --> 00:50:58.860
Stephen Cognetta: And so really be serious holds the 360 interview prep platform combining both are engineering and product insights as well as our content insights.
00:50:59.280 --> 00:51:07.350
Stephen Cognetta: And so what our candidates actually saying, well, we have a 92% satisfaction among graduating users and of the users that engage with us 58% have.
00:51:07.740 --> 00:51:11.880
Stephen Cognetta: or sorry there's a total 58% average increase in total compensation.
00:51:12.180 --> 00:51:20.280
Stephen Cognetta: So this is not just helping people get the jobs it's helping people interview more effectively to increase their compensation and get the dream job that they want and be more effective in that job.
00:51:20.760 --> 00:51:27.120
Stephen Cognetta: we're seeing incredibly accelerating user growth over 100 teasers have already registered on our platform in the spring 11% month over month.
00:51:27.450 --> 00:51:32.310
Stephen Cognetta: And that doesn't even include the platform print them inquire that already has to be indicated whole developers on it.
00:51:33.090 --> 00:51:37.560
Stephen Cognetta: um So how are we feeling all this growth like How is this company going.
00:51:37.980 --> 00:51:47.070
Stephen Cognetta: Well, the way we think about it is this content Community fly so basically we have this awesome content hey this is how to get a job at Google or, this is an example of a mock interview video.
00:51:47.280 --> 00:51:52.050
Stephen Cognetta: of exactly a Google piano answering and interview question that they would actually get in an interview.
00:51:52.290 --> 00:52:01.140
Stephen Cognetta: We have that piece of content that drives outcomes for our Community and then our community wants to come and give back then hey I just got a job because that video is really awesome.
00:52:01.380 --> 00:52:08.640
Stephen Cognetta: I want to make a video to Can I make a video, and we have this kind of content Community flywheel and we're investing in that more and more as we grow our company.
00:52:09.750 --> 00:52:14.340
Stephen Cognetta: And you know not just are we kind of investing in Community content flywheel we're also.
00:52:15.000 --> 00:52:18.690
Stephen Cognetta: employing a strategy to partner with leading universities to build brand awareness so.
00:52:19.110 --> 00:52:33.960
Stephen Cognetta: All of the universities on the slide our current partners that license exponent for their student body to get access to these materials and curriculums, and so we already have a wide set of student populations that are kind of already accessing and using this material.
00:52:35.730 --> 00:52:41.130
Stephen Cognetta: And then, lastly, just kind of share who the team is so myself and Jacob were both.
00:52:41.550 --> 00:52:52.320
Stephen Cognetta: princeton grads and then we have our team both product operations engineering and content, marketing and it's kind of how we see ourselves growing is pushing up each of these three aspects and.
00:52:52.920 --> 00:52:57.450
Stephen Cognetta: i'll pause there that's really all the time that I need but happy to go into more details for Q amp a as well.
00:52:58.050 --> 00:53:05.010
Don Seitz: Steven thanks very much the judges will return and questions will begin with Allah.
00:53:05.970 --> 00:53:20.610
Ayala Gamburd: hey stephanie hi This is great platform I wish it was available when my daughter was looking for her job looks great two quick questions, the first, are you also involved with the actual employers.
00:53:21.810 --> 00:53:25.980
Ayala Gamburd: Do you think it will be a good idea to get the major employers involved with your.
00:53:25.980 --> 00:53:36.630
Ayala Gamburd: platform there's a wealth of data that you're collecting right here that can be very useful to major employers and can really add value in terms of the entire ecosystem.
00:53:37.080 --> 00:53:45.570
Stephen Cognetta: I think that's a totally really smart vision and growth for our business, however, thus far we've been we've grown our company as a candidate First Company.
00:53:45.840 --> 00:53:53.190
Stephen Cognetta: We want to focus on helping the candidates, because we're afraid that kind of focusing too much on the employer and the B2B will distract us from the B2C side of the business.
00:53:53.430 --> 00:54:01.230
Stephen Cognetta: I think in a maybe a year, or a couple years I can imagine that being really, really helpful and beneficial, but our vision and mission is really always about the candidate.
00:54:01.590 --> 00:54:09.540
Stephen Cognetta: focus to we have considered doing like B2B recruiting and things like that, but I think it's a really smart idea, maybe something a little bit longer of a timeline for us.
00:54:09.810 --> 00:54:10.770
Ayala Gamburd: Perfect Thank you.
00:54:11.070 --> 00:54:11.340
00:54:13.500 --> 00:54:21.690
Jim Sherman: Thanks Stephen for your very impressive presentation here um my question is around you mentioned about the organic growth loop.
00:54:22.140 --> 00:54:31.050
Jim Sherman: The flywheel but can you explain a little bit more elaborate on the seo traction the search search engine optimization traction that you've had thus far, because it seems that.
00:54:31.470 --> 00:54:41.760
Jim Sherman: you've been driving your I think you said 1000 members, mostly through organic result traffic that you've garnered from search engines can you elaborate on that.
00:54:42.240 --> 00:54:47.310
Stephen Cognetta: yep exactly, so this is actually a slide it didn't show the presentation, yet, but in case I got asked it I have it so basically.
00:54:47.700 --> 00:54:55.200
Stephen Cognetta: This is organic search profile growing over time organic search is our biggest channel for growth, so a lot of other businesses in the States grow by paid marketing.
00:54:55.500 --> 00:54:59.910
Stephen Cognetta: And we're actually growing by organic, which means a lot more word of mouth and we're having consistent growth.
00:55:00.510 --> 00:55:08.190
Stephen Cognetta: To be specific about what exactly that looks like what that looks like is hey and this by the organic search and YouTube search YouTube is a big channel for us as well.
00:55:08.430 --> 00:55:14.640
Stephen Cognetta: On basically we asked Members who get outcomes with us to produce more content with us and usually they're very excited to do so.
00:55:14.850 --> 00:55:24.660
Stephen Cognetta: And then we have a curator on our team sort of like a guide so it's like let's say you got a job at Google, for us, will say hey really excited that you want to give back these are three ways, you can give back.
00:55:24.840 --> 00:55:32.430
Stephen Cognetta: here's a blog post, you can make the targets, a keyword that will be a specific keyword that will come up in Google search results, a lot that we want to target does that answer your question.
00:55:33.630 --> 00:55:38.970
Jim Sherman: Yes, I mean, I think the main the core of the question is, do you find that they're just as a lot.
00:55:39.030 --> 00:55:40.650
Jim Sherman: There are a lot of people searching.
00:55:40.950 --> 00:55:47.040
Jim Sherman: For terms that are enough volume that will help you to scale.
00:55:47.700 --> 00:55:52.590
Stephen Cognetta: Well, so yeah I think the answer is yes, the reason that is like if you're nervous about getting a job.
00:55:52.950 --> 00:55:58.110
Stephen Cognetta: A company, what is the first thing you're going to do you're going to Google interview questions right you're going to Google which interview questions they ask.
00:55:58.350 --> 00:56:03.480
Stephen Cognetta: that's why we built this entire tool which has 2.5 million organic search impressions over the last 12 months.
00:56:03.750 --> 00:56:12.030
Stephen Cognetta: And, basically, the idea is that hey we collect Community answers of like hey I got this job it's kind of like glassdoor competitor, but more specific and more tailored for this use case.
00:56:12.750 --> 00:56:19.050
Stephen Cognetta: that's like hey These are the questions that I got at Google, and this is what I want to know, and that is something that we have found that equal to Google for.
00:56:19.350 --> 00:56:25.770
Stephen Cognetta: In addition to the fact that people Google for stuff on YouTube we've actually found that people also casually consume this kind of content is another way to reach.
00:56:26.040 --> 00:56:26.670
Jim Sherman: This audience.
00:56:28.290 --> 00:56:31.800
Don Seitz: And we have time for one last quick question, please.
00:56:36.420 --> 00:56:37.050
Rob Wolk: Christine.
00:56:40.020 --> 00:56:41.430
Christine Brumback: I think it's your turn, but I can go.
00:56:42.900 --> 00:56:43.770
Rob Wolk: To last time, so I think.
00:56:45.090 --> 00:56:51.390
Christine Brumback: I if I if I missed this I apologize what's the pricing and who's paying, is it the job seeker or.
00:56:52.050 --> 00:56:54.030
Stephen Cognetta: just paying a subscription product.
00:56:54.090 --> 00:56:59.010
Stephen Cognetta: it's 149 annually, or about $70 a month we push people to the annual plan more yeah.
00:57:00.060 --> 00:57:08.730
Christine Brumback: And what when someone doesn't get an interview, are you tracking that to kind of understand what happened and if that's something that you know the service could improve upon or if that was just more.
00:57:09.180 --> 00:57:19.620
Stephen Cognetta: yeah we track generally different satisfaction, reading the reason for that is that sometimes people consume our content prior to wanting an interview they consume it more as like a lifelong learning thing that they want to get a job at some point so.
00:57:19.830 --> 00:57:29.970
Stephen Cognetta: To us it's not a bad thing if they don't get an interview or a job it's more like hey were you satisfied with the content, we also have uploads and downloads and every single lesson to also identify like satisfaction with that.
00:57:30.540 --> 00:57:32.040
Christine Brumback: They can turn into learning experience.
00:57:32.340 --> 00:57:34.200
Christine Brumback: Exactly Thank you.
00:57:34.950 --> 00:57:55.050
Don Seitz: Even thanks so much very interesting business startup with great traction in the marketplace already Moving on now, please, to introduce the two co founders, who are also female founders janice tam and Margaret tam from two to form go ahead, yes.
00:57:55.950 --> 00:58:06.600
Janice Tam: Thanks, so much so hi everyone i'm janice i'm The co founder and CEO of true to form, we are building a digital workflow solution to enable scalable made to measure fashion.
00:58:06.930 --> 00:58:10.410
Janice Tam: And the reason why we're building this is because the fashion industry today is broken.
00:58:10.680 --> 00:58:19.350
Janice Tam: The first issue is overproduction we're 30% of clothes produced or never sold, resulting in huge economic losses and a massive sustainability challenge.
00:58:19.680 --> 00:58:31.680
Janice Tam: The second problem is fit instead of creating clothing to fit consumers, consumers are expected to fit into clothes that are already produced unfortunately for 57% of women, even the closest size doesn't fit.
00:58:32.190 --> 00:58:40.440
Janice Tam: that's why, unlike other solutions out there that are focused on this matching problem helping consumers select sizes from pre produced garments that are more likely to fit them.
00:58:40.710 --> 00:58:50.520
Janice Tam: We are true to form, our laser focus on making me to measure technically scalable which we believe is the only sustainable solution for the problems of overproduction and fit.
00:58:50.850 --> 00:58:56.250
Janice Tam: we're doing this with our remote fitting tool which eliminates the burden of the in person fitting in the manual tape measure.
00:58:56.910 --> 00:59:04.110
Janice Tam: We offer integrations into existing digital prototyping and design tools in order to enable efficient me to measure production.
00:59:04.560 --> 00:59:13.470
Janice Tam: And this really sets the stage for us to build a really valuable ecosystem, where we can replicate the familiarity of E commerce shopping and bring that to me to measure.
00:59:13.770 --> 00:59:20.340
Janice Tam: Through a made to measure marketplace, which will launch next year that consolidates the fragmented me to measure market into one E commerce destination.
00:59:20.880 --> 00:59:29.070
Janice Tam: So we've already built out and developed one part of this ecosystem, which is our patent pending fitting tool which consists of a body scanning APP.
00:59:29.490 --> 00:59:38.160
Janice Tam: This is what consumers can use to take a scan of themselves in less than two minutes to create their own personal 3D Avatar and they can share that securely with the design team with a click of a button.
00:59:38.760 --> 00:59:46.200
Janice Tam: Our customers are apparel designers and they can subscribe to our dashboard on the right here in order to manage all of the avatars that been shared with their.
00:59:46.620 --> 00:59:57.870
Janice Tam: Their business, they can view all measurements required for garment construction and fitting and, importantly, they can import our custom avatars to us as a drop in solution within their existing 3D design workflows.
00:59:58.290 --> 01:00:09.690
Janice Tam: So this is an example of just that showing how our avatars integrate directly into 3D design prototyping and design tools that have really garnered a ton of adoption in the last year and a half in the wake of the pandemic.
01:00:09.990 --> 01:00:16.800
Janice Tam: So this is a case study from one of very our paying customers very form design it's a luxury me to measure brand based in Chicago.
01:00:17.130 --> 01:00:23.370
Janice Tam: They requested a scan from one of their custom fit clients received the true to form, customer Avatar on their dashboard on the light on the left.
01:00:23.640 --> 01:00:29.250
Janice Tam: You can see, they were able to bring this Avatar directly into their existing 3D design workflows and the middle photo.
01:00:29.580 --> 01:00:36.510
Janice Tam: Where they were able to fit a virtual garment directly on that custom Avatar and produce a me to measure garment on the first try without an in person fitting.
01:00:37.500 --> 01:00:46.620
Janice Tam: So these design tools really serve our core customer, which is the apparel designer and they represent a $1.3 billion initial revenue opportunity.
01:00:46.860 --> 01:00:55.290
Janice Tam: And what that represents is a stepping stone in a proving ground for us for remote me to measure production, so that we can achieve our vision of bringing me to measure to the masses.
01:00:55.620 --> 01:01:09.180
Janice Tam: By first creating a sticky designer network of designers who are reliant on our tool in order to do their work, we can organically build a network of their consumers who are most likely going to be willing to take a scan of themselves and purchase me to measure.
01:01:09.420 --> 01:01:16.380
Janice Tam: And once we hit critical mass, we can easily facilitate a direct connection between designer and consumer launching and made to measure marketplace, by next year.
01:01:17.670 --> 01:01:24.240
Janice Tam: The reason why we're best position to dominate the space is because we offer the only scalable tool for remote me to measure apparel production.
01:01:24.630 --> 01:01:34.590
Janice Tam: And the world of mass produced clothing, there are remote tools out there that help consumers select the best sizes at the point of sale So these are virtual fitting rooms and size recommendation engines.
01:01:34.920 --> 01:01:41.730
Janice Tam: But in the world of made to measure apparel production, the really the only alternatives are really in person solutions which represent.
01:01:42.000 --> 01:01:49.470
Janice Tam: The spoke Taylor is your traditional Taylor shops, the manual tape measure and, for some, which are the largest brands that have the deepest pockets.
01:01:49.650 --> 01:01:58.740
Janice Tam: They can purchase large hardware scanners like sigh stream or tg 3D which are these big bulky hardware scanners that are expensive to purchase operate and store.
01:01:59.250 --> 01:02:05.400
Janice Tam: So when it comes to remote tools for me to measure apparel production, true to form, stands alone and that top upper right hand quadrant.
01:02:05.700 --> 01:02:17.100
Janice Tam: Only a company by companies that are limited by in house brands and limited apparel categories so that's why we gained a ton of support from our early beta customers who have become our advocates for our product.
01:02:17.700 --> 01:02:23.640
Janice Tam: Since completing our body scan APP in March of this year we've converted nine paying customers, including me to measure brands like very form.
01:02:23.880 --> 01:02:30.240
Janice Tam: And the Taylor in New York, as well as larger apparel organizations like for in who are using us to scan their professional personal borders.
01:02:30.780 --> 01:02:35.430
Janice Tam: we've also run pilot that top fashion, schools, including fit and parsons.
01:02:35.970 --> 01:02:40.560
Janice Tam: And so we really are the team to bet on I have experienced hiring leading and motivating teams.
01:02:40.770 --> 01:02:44.700
Janice Tam: Margaret went to school at princeton and spent five years working on sensing technologies.
01:02:44.880 --> 01:02:53.970
Janice Tam: At apple before working on our startup full time and olivia Hadley is our head of design, she was previously a product and a visual designer at both Google and apple before joining us startup full time.
01:02:54.510 --> 01:03:04.440
Janice Tam: we're supported by a team of six engineers and a great group of advisors and investors, you might recognize Nigel Barker from america's next top model and Susan sokolowski one of the prominent 3D.
01:03:05.580 --> 01:03:12.840
Janice Tam: One of the prominent thought leaders in 3D technical design Brian and Lisa from refashion dentures they invested in our friends and family round last fall.
01:03:13.170 --> 01:03:23.880
Janice Tam: Along with Alex livre de a prior operator and the co founder of sync on set the leading continuity out for film and TV productions who brings us networks for costume design in La New York.
01:03:24.510 --> 01:03:32.340
Janice Tam: So that round kind of brought us to where we are today, where we have a fully validated product and we're preparing to capture a beachhead designer market over the next 18 months.
01:03:32.520 --> 01:03:35.970
Janice Tam: So we are raising and we are looking for customer leads in order to do this.
01:03:36.180 --> 01:03:46.200
Janice Tam: You can see where our use of funds are going, and you can see our key milestones this will bring us through to 2024 so by Q4 of 2023 we expect to have 500 designers on our platform.
01:03:46.470 --> 01:03:55.290
Janice Tam: Over 100,000 monthly recurring revenue and a first generation marketplace and market to show that that five will is really working now Margaret and I are happy to take any questions.
01:03:56.130 --> 01:04:03.960
Don Seitz: very exciting janice and welcome Margaret and welcome back to the judges let's start with rob please.
01:04:04.860 --> 01:04:09.270
Rob Wolk: Just first of all thank you for the exciting and compelling presentation that's great.
01:04:10.020 --> 01:04:19.470
Rob Wolk: My main question revolves around competitive landscape and differentiation I think at PA we've seen at least six to eight of these companies, the last two plus years.
01:04:19.980 --> 01:04:30.330
Rob Wolk: You know, obviously, and Taylor you put in your miles pan they've raised 5.2 million from COSLA but 3D look as tremendous partnerships with some.
01:04:30.840 --> 01:04:36.000
Rob Wolk: More B2B model they've got partnerships with some designers they just raised a 17 and a half million series B.
01:04:36.360 --> 01:04:48.840
Rob Wolk: And there are a lot of other players out there still well what you have is innovative and you seem to have a great team talk a little bit more about how you can break through the noise and really just distinguish themselves and build your brand in this crowded marketplace.
01:04:49.560 --> 01:04:53.010
Janice Tam: Absolutely, it really comes down to our go to market strategy.
01:04:53.250 --> 01:05:03.480
Janice Tam: Those other players that you mentioned, are very consumer focused they're solving a completely different problem which is helping the consumer select the best size from pre produced garments that are already made.
01:05:03.780 --> 01:05:10.440
Janice Tam: And because of that go to market strategy, they aren't targeting our core customer and that's an underserved market of apparel designers.
01:05:10.650 --> 01:05:16.260
Janice Tam: that's why, when we go to these big apparel brands and they talk to us, they think that we are the first of our kind.
01:05:16.470 --> 01:05:23.880
Janice Tam: Where we're serving the technical designers on their product development teams, the 3D designers the product teams and it's a completely different use case.
01:05:24.150 --> 01:05:34.290
Janice Tam: And so, one example of how we found that this has been really effective is the traction we've got with some of the leading fashion, schools, so now we've built an entire consortium of top educational partners.
01:05:34.530 --> 01:05:37.110
Janice Tam: And you can see that they're all scrambling to adopt our.
01:05:37.470 --> 01:05:39.270
Janice Tam: Our our solution because.
01:05:39.540 --> 01:05:51.270
Janice Tam: Just starting in January 2021 is when they started adopting 3D design tools for prototyping and design and those directly complement our product so over the last two years we've seen unprecedented adoption of digital tools.
01:05:51.480 --> 01:06:03.180
Janice Tam: But unfortunately only 6% has happened at the point of sale, with the size recommendation and virtual fitting room solutions, the majority of that has happened actually upstream of the product development process, which is where our core customer set.
01:06:04.170 --> 01:06:05.430
Rob Wolk: that's great Thank you very much.
01:06:07.290 --> 01:06:22.920
Ayala Gamburd: hi janice great presentation, so the main question I have is about the marketplace and where you want to be I think that's what really differentiates you from other companies i've seen.
01:06:24.660 --> 01:06:38.250
Ayala Gamburd: it's going to be hard to creating a marketplace is a big undertake getting designers from all fields and all levels get involved in the same platform is a huge on what's your plan how you going to do it.
01:06:38.760 --> 01:06:47.760
Janice Tam: yeah absolutely, so we are really lucky in that we have built a network of designers that have become our advocates and they're coming to us explaining to.
01:06:48.270 --> 01:06:58.830
Janice Tam: us their pain points which is really customer acquisition so that's why really, really focused on leverage leveraging that e commerce destination, to help our designers acquire customers, however, by first going through to.
01:06:59.280 --> 01:07:09.540
Janice Tam: What by selling to designers we can actually organically grow the network of consumers who are most willing and most motivated to take a body scan in order to purchase me to measure clothing.
01:07:09.840 --> 01:07:16.350
Janice Tam: So already today, we have hundreds of scans that have been submitted, through our platform over 1000 scans have been submitted.
01:07:17.430 --> 01:07:25.470
Janice Tam: To date, and these consumers create two different profiles that will House all of their data, so we make it easy for them to click with a click of a button.
01:07:25.740 --> 01:07:36.090
Janice Tam: And we kind of replicate the familiar native E commerce shopping, so we already have their profiles and will already have the networks of designers it really just becomes a matter of when we decide to facilitate that direct connection.
01:07:37.350 --> 01:07:47.040
Don Seitz: And is, thank you very much more questions can be posed during the breakout rooms at the conclusion of the showcase wonderful.
01:07:48.300 --> 01:08:03.630
Don Seitz: Technology and target marketing congratulations now moving on to an environmental tech company project plastic and co founders ED in lieu in the annual banks welcome.
01:08:04.620 --> 01:08:07.470
Nathaniel Banks: hi can you all hear and see my screen okay.
01:08:07.890 --> 01:08:09.000
Nathaniel Banks: Dan okay.
01:08:10.020 --> 01:08:21.720
Nathaniel Banks: cool cool alright so hi everyone, my name is nathaniel and I am the co founder of project plastic, we are a princeton based startup that develops technologies to remove micro plastics from our waterways.
01:08:22.200 --> 01:08:31.020
Nathaniel Banks: And, whether it be through threats to cyber security or pandemics or climate change, it is definitely becoming evident that most the most dangerous threats that are currently challenging.
01:08:31.290 --> 01:08:42.480
Nathaniel Banks: And facing societies today are often the ones that are invisible and likewise with things like aquatic pollution generally people envision, the problem is being things like bags or cups littering the beaches and oceans of the world.
01:08:43.260 --> 01:08:49.890
Nathaniel Banks: But these items, while hugely damaging to the environment can generally be collected using standard net filters and clean up initiatives.
01:08:50.370 --> 01:08:59.460
Nathaniel Banks: And what our company is generally concerned with are actually the far more pervasive micro plastics, these are plastics that are less than five millimeters in size and often invisible to the naked eye.
01:09:00.000 --> 01:09:11.670
Nathaniel Banks: And that this scale these plastics are both hard to capture and can easily be ingested by aquatic wildlife and humans, in fact, it is now estimated that approximately a credit cards worth or plastic is consumed by humans each week.
01:09:12.690 --> 01:09:15.240
Nathaniel Banks: With micro plastic consumption generally to increase.
01:09:15.870 --> 01:09:24.600
Nathaniel Banks: considered to increase annually so it's therefore likely highly likely that micro plastics will become a major health hazard facing the next generation, if left unmanaged.
01:09:25.080 --> 01:09:27.180
Nathaniel Banks: So what has been done about this emerging problem.
01:09:27.630 --> 01:09:39.600
Nathaniel Banks: Well, sadly, not very much almost all aquatic filters are not designed to deal with the minute scale of micro plastics and the ones that are often prohibitively expensive and confined to state of the art wastewater treatment facilities.
01:09:40.320 --> 01:09:48.630
Nathaniel Banks: And shocked by this revelation our team decided to take it upon ourselves to develop a new type of filtration system one specifically designed to target micro plastic.
01:09:48.990 --> 01:09:58.590
Nathaniel Banks: Our team co founders Union Lou and myself have extensive experience in conceptual design and fabrication which we leverage to construct and test a setup prototypes of our new device.
01:09:58.830 --> 01:10:04.080
Nathaniel Banks: And we quickly bonded with our lead researcher tanner to create experimental protocols to test our ideas.
01:10:04.320 --> 01:10:13.530
Nathaniel Banks: And we are now bringing on Members from a variety of expertise from policy to advanced chemistry to create an interdisciplinary collaborative hell bent on removing micro plastics from our waters.
01:10:14.460 --> 01:10:22.710
Nathaniel Banks: And this is the system that we have developed, it is the world's first affordable, effective and environmentally friendly micro plastic capturing device that we call the plastic hunter.
01:10:23.310 --> 01:10:30.750
Nathaniel Banks: The plastic container is essentially a floating filtration device designed to work in rivers, lakes and effluent streams consisting of a flotation frame.
01:10:31.080 --> 01:10:39.690
Nathaniel Banks: A removable support pad and our patented artificial root filter we call it the artificial root filter as imitates the fiber structures of aquatic plant roots.
01:10:39.990 --> 01:10:51.180
Nathaniel Banks: Notably, the system can physically adhere very small aquatic sediments including micro plastics, but can also be loosely arranged provide passageways for fish to navigate around our device so, how does it work.
01:10:51.780 --> 01:11:01.530
Nathaniel Banks: Well, effectively if deployed the plastic container will be simply anchored in in place in a polluted legal stream and, over time, the root network or saturate with contaminated settlements.
01:11:01.980 --> 01:11:08.700
Nathaniel Banks: One saturated the router a can be removed and cleaned up all adhered settlements and reinserted for continued use.
01:11:09.090 --> 01:11:16.560
Nathaniel Banks: The device itself is remarkably low maintenance and requires no mechanical systems electricity or skills top staff to effectively operate and function.
01:11:17.250 --> 01:11:23.640
Nathaniel Banks: And our technology has been scientifically verified to be effective, with around an 80% recorded entrapment rate and our lab experiments.
01:11:23.940 --> 01:11:30.720
Nathaniel Banks: These fluorescent particles that you see on the Left image or micro plastics that remains had here to add filter even once it's been removed from water.
01:11:31.230 --> 01:11:37.800
Nathaniel Banks: we've also tested our device in the field which quickly saturated with micro plastics from a wastewater effluent stream in Pennsylvania.
01:11:38.310 --> 01:11:48.180
Nathaniel Banks: and using data from both this lab and field experiments our team is now developing a new prototype designed to entrap even more micro plastic and to saturate of contaminants at an even slower rate.
01:11:49.020 --> 01:11:56.430
Nathaniel Banks: So the problem of micro plastic pollution is absolutely massive with over 10,000 rivers releasing plastic pollutants across the world each year.
01:11:56.850 --> 01:12:02.400
Nathaniel Banks: So our team believes that such a massive problem can only really be addressed through a systematic and coordinated solution.
01:12:02.910 --> 01:12:15.870
Nathaniel Banks: Therefore, our team and has ambitions to deploy a device across the world, working with water management authorities to deploy pods of our devices intelligently in areas of critical contamination of both local, regional and global scales.
01:12:16.860 --> 01:12:23.430
Nathaniel Banks: in regards to our market size our team both knows the areas appropriate for deploying device and the organizations that manage them.
01:12:23.760 --> 01:12:31.650
Nathaniel Banks: We recently attended an nsf ICO program in which we gathered over 40 interviews with customers from each of these groups, as well as from government regulators.
01:12:31.950 --> 01:12:43.050
Nathaniel Banks: And while our technology is still a work in progress, we found them all to be very receptive to our technology, notably with the acu a wastewater treatment facility offering to do a full scale pilot of our device next year.
01:12:43.980 --> 01:12:49.950
Nathaniel Banks: So going forward, we hope to offer our technology as a service wherein we can initially deploy our device as a monitoring tool.
01:12:50.190 --> 01:12:57.690
Nathaniel Banks: To help companies and governments identify critical areas of micro plastic contamination with the goal to make the world's first micro plastic pollution map.
01:12:58.260 --> 01:13:10.860
Nathaniel Banks: Following this we'd like to deploy devices a remediation tool in areas of extreme micro plastic pollution selling the device and additional filters on a bi monthly basis to appropriate water management or authorities and organizations.
01:13:11.340 --> 01:13:16.530
Nathaniel Banks: And finally, we have to sort of figure out what do we do with this segment that we collect we can't just burn it or store it.
01:13:16.740 --> 01:13:27.360
Nathaniel Banks: Can we instead reuse it, so we are now collaborating with researchers at the University of Washington St Louis to try and up cycle any micro plastic we collect into chemicals for the pharmaceutical industry.
01:13:27.780 --> 01:13:37.920
Nathaniel Banks: Turning this waste into a resource and since our company started last year, we have it edited fabricated and tested all our initial prototypes funded purely by our pitch winnings.
01:13:38.190 --> 01:13:43.890
Nathaniel Banks: And this year we have been fortunate enough to have received approximately $400,000 in angel investment just.
01:13:44.160 --> 01:13:52.080
Nathaniel Banks: From the nsf and private venture capital, which has allowed us to pursue our venture full time and to continue developing our prototype in our own labs and office space.
01:13:52.620 --> 01:13:59.580
Nathaniel Banks: Our next goal is to conduct our first full start at scale pilot next year, following which we hope to start our first commercial product sales.
01:13:59.910 --> 01:14:07.650
Nathaniel Banks: Thank you for listening and, if you want to stay in touch or learn more about our business feel free to check out our website via the qr code on screen or follow us on social media.
01:14:07.950 --> 01:14:13.680
Nathaniel Banks: we're excited to hear your thoughts and hope you can join us on our mission to read our waters of micro plastic pollution for good, thank you.
01:14:15.000 --> 01:14:19.830
Don Seitz: Daniel Thank you very much we'll start with questions from Jim.
01:14:21.420 --> 01:14:33.090
Jim Sherman: nathaniel thanks, very much for that really, really interesting presentation, certainly in terms of environmental needs it sounds like you, are filling one.
01:14:33.720 --> 01:14:42.930
Jim Sherman: That is a great need now, I guess, one of my questions is how did you come up with this idea it's certainly a rather unique business.
01:14:43.590 --> 01:14:50.550
Jim Sherman: i'm always curious as to where an entrepreneur actually had come up with this concept in the first place, and then just secondly.
01:14:51.330 --> 01:15:04.110
Jim Sherman: I understand that you do have a prototype that you may not have any paying customers, but can you explain in terms of any proof points that you have in terms of validating the science mm.
01:15:04.200 --> 01:15:14.670
Nathaniel Banks: hmm so let's start off with both myself and the end the Co founders didn't come from promise of engineering background came from us have more architectural design background.
01:15:15.360 --> 01:15:20.910
Nathaniel Banks: But our research was always focused on waste and waste infrastructure, trying to develop new types.
01:15:21.240 --> 01:15:30.480
Nathaniel Banks: And when it came to plastics, when we looked into it, we found out that you know, no one in the field has really developed anything that's really effective for micro plastics, no current regular filters exist.
01:15:31.170 --> 01:15:41.340
Nathaniel Banks: So that really inspired us to sort of think well, maybe we could have some kind of an impact using our skills from outside of the specialist industry and the first thing we looked into was how, how do.
01:15:41.880 --> 01:15:47.820
Nathaniel Banks: Small settlements in water getting traps generally and one effective mechanism is what plants already use they use their.
01:15:48.030 --> 01:15:56.640
Nathaniel Banks: fiber structures of their plant roots and soft gels that coat them to really and traps more settlements, so we decided to come up with a device that sort of trying to replicate the effects of that.
01:15:56.940 --> 01:16:02.520
Nathaniel Banks: And so ramp them up to such an effect that it can actually interact all kinds of small sediments including micro plastic.
01:16:03.060 --> 01:16:07.140
Nathaniel Banks: And in terms of how we've developed the technology and the kind of proof points we're trying to get to.
01:16:08.070 --> 01:16:14.070
Nathaniel Banks: So when we did our tests we firstly we worked with a lot of organizations, including the the.
01:16:15.000 --> 01:16:20.580
Nathaniel Banks: willis tower Conservation Trust which monitors loads of tributaries for how much micro plastic they pollute.
01:16:21.030 --> 01:16:30.420
Nathaniel Banks: We deployed our device and we put probes ahead of otherwise and behind it to measure the micro plastic counting parts per million to sort of see is our device making an impact.
01:16:30.810 --> 01:16:41.220
Nathaniel Banks: And in terms of what we're trying to look for, especially when it comes to a larger scale pilot is if we can get around a 75 to 80% reduction in micro plastic from the sample taken before and after the device.
01:16:41.550 --> 01:16:47.820
Nathaniel Banks: So that way we can set a threshold saying we've reduced it from say like 600 parts per million to 150 parts per million.
01:16:48.120 --> 01:16:57.060
Nathaniel Banks: If we can get that kind of threshold change that's something that can both appeal to larger companies like bottled water companies that want to reduce micro plastic counts in the drinking water.
01:16:57.360 --> 01:17:03.750
Nathaniel Banks: but also for regulators so government regulators, they can't put a threshold and on removing micro plastic until they have.
01:17:04.080 --> 01:17:17.310
Nathaniel Banks: A technology that's could be widely available and can also remove these pollutants, so if we can say our device removes this percentage, they can then actually install regulations to that level so in a way we could pioneer regulation on the micro plastic front.
01:17:19.680 --> 01:17:20.160
01:17:23.430 --> 01:17:30.240
Christine Brumback: I think I think I might be next so super fascinating and very super fascinating solution and important problem to be solving.
01:17:31.020 --> 01:17:42.630
Christine Brumback: The first thing that came up for me was really around distribution and sales, it seems like you have to have a couple different kinds of customers that you'll want to sell into do you know those sales like a look like what does that talent look like on your team.
01:17:43.800 --> 01:17:44.370
Christine Brumback: about that.
01:17:45.000 --> 01:17:55.140
Nathaniel Banks: Though so far we've been mainly focusing on just optimizing the technology with really just starting to get into understanding the market dynamics, or of the area and it's, of course, very complicated.
01:17:55.950 --> 01:18:05.040
Nathaniel Banks: But areas we're trying to look into our as we sort of listed out river and lake regulators, these can be private companies and private and public companies.
01:18:05.490 --> 01:18:16.050
Nathaniel Banks: The private ones there they can be more proactive obviously they're more interested in so saying you know we've got very low micro plastic levels we're deploying the technology for that so they see the value so more of a PR move.
01:18:16.260 --> 01:18:24.720
Nathaniel Banks: As well as, obviously, improving that water quality, the government regulators are a lot more challenging they will only do stuff unless if they're mandated to.
01:18:25.590 --> 01:18:31.020
Nathaniel Banks: However, as I said, once we our plan is basically to try going for these private industries first.
01:18:31.380 --> 01:18:46.170
Nathaniel Banks: Get all of the data through pilots with them and then, once we basically proven the efficacy of our device that can be used to spearhead regulation and once it's regulated there's around 16,000 wastewater treatment plants in the US alone that would potentially use our device.
01:18:48.570 --> 01:18:49.050
Nathaniel Banks: point.
01:18:49.080 --> 01:18:59.370
Yidian Liu: So wastewater treatment plants are a big market which were to enter because a lot of them are in the US are over served and they don't have to budget to employ.
01:19:00.390 --> 01:19:07.680
Yidian Liu: A lot of like heavy infrastructure, like the disk builders and over product really fitting that gap, because we can be.
01:19:08.970 --> 01:19:18.840
Yidian Liu: Applied towards the athletes out there is a system so it's very flexible and you cost them a lot less in managing an application.
01:19:19.620 --> 01:19:23.850
Nathaniel Banks: A single plant, for example, if it were to use an alternative technology, like a disc filter.
01:19:24.540 --> 01:19:40.050
Nathaniel Banks: Each this filter can cost between 100 and $300,000 to install and they will need at least eight of them per facility our devices a fraction of that cost we estimate ours will be between 10 and 15,000 per device if it was deployed or wastewater treatment so it's far more competitive.
01:19:40.860 --> 01:19:47.790
Don Seitz: Wonderful presentation that then you're needy and fascinating solution as the judges had mentioned.
01:19:49.050 --> 01:19:58.110
Don Seitz: Please now to move to our final presentation of the evening from proxy and co founder is maddie clayton and Chelsea running.
01:20:01.500 --> 01:20:03.120
Madeleine Clayton: hey Can you see my screen and hear me.
01:20:03.330 --> 01:20:04.230
Don Seitz: We can maddie.
01:20:04.290 --> 01:20:11.010
Madeleine Clayton: awesome good evening, my name is maddie clean and i'm a princeton alumni and a Co founder of proxy.
01:20:11.550 --> 01:20:16.710
Madeleine Clayton: With our proxy maps we're building an infrastructure of curated user friendly guides to the world.
01:20:17.100 --> 01:20:26.790
Madeleine Clayton: that's because we know there's an opportunity to radically improve how people choose where to go and what to do and we're taking on this $800 billion market in a new way.
01:20:27.420 --> 01:20:39.780
Madeleine Clayton: let's dive in here's the problem, the Internet has a lot of lists that are full of a lot of text that's why consumers visit on average 38 websites when planning and booking a trip.
01:20:40.290 --> 01:20:46.410
Madeleine Clayton: you read the Michelin guide here and rick steves essentials list here in the best photography spots blog from there.
01:20:46.890 --> 01:20:52.320
Madeleine Clayton: And because these are text based list you have no spatial context on where the recommendations are.
01:20:53.010 --> 01:21:06.870
Madeleine Clayton: At the same time, the creator of that blog has no insight into how you use the recommendations and existing mapping solutions such as Google maps or yelp do not connect users with trusted sources or personalized recommendations.
01:21:07.860 --> 01:21:15.570
Madeleine Clayton: What if we could take all of these trusted recommendations put them on a map and stick them with in our digital backpack to take with us.
01:21:16.770 --> 01:21:20.670
Madeleine Clayton: deciding where to go and what to do would be much, much easier.
01:21:21.150 --> 01:21:33.930
Madeleine Clayton: proxy is solving this problem by transforming these texts baseless by trusted curators into matt interactive searchable and book marketable guides here's our unique approach to making this happen.
01:21:34.860 --> 01:21:42.420
Madeleine Clayton: Our first step is to make mapping for everyone proxy actually started when our CEO made a crowdsource map for her neighborhood.
01:21:43.470 --> 01:21:57.480
Madeleine Clayton: In the process, she realized how completely inaccessible not creation and sharing was for everyday people and we began building proxy today we are the easiest map maker on the Internet design thoughtfully for everyday people.
01:21:58.500 --> 01:22:10.680
Madeleine Clayton: And just five minutes, people can generate a map, such as this princeton libraries map i'm creating customize it add points with personalized descriptions links and photos and then share or embedded.
01:22:12.300 --> 01:22:26.400
Madeleine Clayton: Our second step is to make creators want to make maps we incentivize creators to put their content on proxy maps, by providing them with vital data about their audience and in the future lucrative affiliate and advertising opportunities.
01:22:27.540 --> 01:22:35.040
Madeleine Clayton: Third, we make our maps useful and actionable to end consumers, which is why we think of ourselves as a B2B to see business.
01:22:35.370 --> 01:22:49.980
Madeleine Clayton: Creators can take their maps to their fans followers and customers, wherever they are embedded in a website share it via text or chat Bot email Facebook, you name it those consumers can then bookmark the map in their proxy backpack to use on their next trip.
01:22:51.030 --> 01:23:07.590
Madeleine Clayton: Our product has been in the market for nine months at proxy co and people love us, not only is making maps easy and fun, but it's also changing how businesses engage with their followers listen for yourself, I actually didn't share with sound, so let me reshare with sound.
01:23:13.230 --> 01:23:13.440
01:23:18.090 --> 01:23:18.990
Madeleine Clayton: Oh nevermind.
01:23:20.070 --> 01:23:23.280
Madeleine Clayton: we'll just skip but can you guys see my still see my screen.
01:23:24.750 --> 01:23:39.870
Madeleine Clayton: Yes, awesome okay matt creation and viewership on proxy has been increasing more than 30% month over month for the last nine months to date we've had 4000 proxy maps created that have been viewed by over 50,000 people every month.
01:23:40.320 --> 01:23:49.110
Madeleine Clayton: And we increasingly see repeat customers and the influencer local media and hospitality markets using proxy as a core part of their business.
01:23:49.440 --> 01:23:55.080
Madeleine Clayton: We have identified 50 million possible mapmakers in the US, so we have a lot of room to grow.
01:23:56.040 --> 01:24:07.530
Madeleine Clayton: So how do we grow well proxy sits at the intersection of local influencers travel and area businesses so we go to market strategically city by city to start the local flywheel.
01:24:08.220 --> 01:24:18.300
Madeleine Clayton: First we introduced proxy to local economic development groups like chambers of commerce and local influencers, we know that their maps inspire other similar maps.
01:24:18.690 --> 01:24:26.610
Madeleine Clayton: Then we build strategic partnerships with trusted hospitality brands, with a high frequency of creation like hotel concierge service.
01:24:27.030 --> 01:24:34.050
Madeleine Clayton: Finally, we capitalize on viral maps to drive users back to proxy and grow both map viewership and creation.
01:24:34.710 --> 01:24:42.390
Madeleine Clayton: And though our go to market plan is strategically focused on travel and hospitality, we are also building a culture of mapping for all.
01:24:42.840 --> 01:24:52.110
Madeleine Clayton: People regularly come to proxy today to build easy maps for weddings Community events, humanitarian aid and volunteerism five k's and more.
01:24:52.560 --> 01:25:02.640
Madeleine Clayton: We even had a user make a crowdsource map for parents to share we're formula stocks that gather 1400 points 80,000 views and was even mentioned on good morning America.
01:25:03.450 --> 01:25:12.150
Madeleine Clayton: mapping is going to be big and be for everyone proxy and our unique strategy to build this culture will unlock a more personal real worlds.
01:25:12.540 --> 01:25:23.130
Madeleine Clayton: And when we nail this proxy is easily a billion dollar opportunity as it unlocks booking affiliate links advertising technology licensing and API revenue.
01:25:24.060 --> 01:25:30.960
Madeleine Clayton: And we're the team to do it, as I mentioned my name is maddie and i'm a software engineer who graduated from princeton in 2017.
01:25:31.410 --> 01:25:37.680
Madeleine Clayton: I formerly worked at consumer centric companies like Meta and Microsoft and I now lead our software development team.
01:25:38.220 --> 01:25:45.780
Madeleine Clayton: Melinda our CEO is a former US intelligence analyst a geospatial tool builder and an expert in human centered design.
01:25:46.260 --> 01:25:59.430
Madeleine Clayton: And finally Chelsea our coo is a multi time founder with prior exits and an expert in scaling our impressive team is passionate about making it effortless for people to navigate the world in a more personal way.
01:26:01.170 --> 01:26:03.840
Madeleine Clayton: Thanks for listening i'm happy to answer any questions.
01:26:06.030 --> 01:26:06.690
Madeleine Clayton: And apologies.
01:26:06.720 --> 01:26:09.000
Madeleine Clayton: about the video clip I got permission issues.
01:26:10.260 --> 01:26:22.620
Rob Wolk: No worries I think i'm up on it, first of all thank you for that terrific presentation and actually think I read somewhere that this company came out of your co founder melinda's desire to create a Halloween map for.
01:26:22.680 --> 01:26:32.130
Rob Wolk: You guys so really interesting story um I guess my question for you is you know, on the website, you know there's a basic option.
01:26:32.550 --> 01:26:40.230
Rob Wolk: You know it's unlimited maps 1000 points more than enough for most people, so how you transform this from a tool.
01:26:40.650 --> 01:26:49.350
Rob Wolk: To a company in terms of business model, and how are you what's your go to market strategy for customer acquisition for the paid customers.
01:26:49.770 --> 01:26:58.230
Rob Wolk: And to have a sense of how expensive it is in terms of cost of customer acquisition what your CAC is relative to the long term value of the paid customers.
01:26:58.890 --> 01:27:09.180
Madeleine Clayton: Definitely, so our current strategy for for monetization moving forward we're currently pre monetization but we're looking to have key partnerships with.
01:27:10.320 --> 01:27:16.320
Madeleine Clayton: with different partners that have already said that they're willing to pay so that includes things like hotels, who can.
01:27:16.560 --> 01:27:32.190
Madeleine Clayton: Who will create like a whole bunch of maps and pay for our service to be able to manage their maps and a lot of it is also being able to see things like key insights about your maps being able to have a certain level of customer service yeah.
01:27:33.870 --> 01:27:34.890
Madeleine Clayton: And what was the second part of the.
01:27:34.890 --> 01:27:44.190
Rob Wolk: Question conscious understanding as you build that in as you market built your your sort of customer base on the paid side so hotels and businesses.
01:27:44.580 --> 01:27:55.440
Rob Wolk: what's the cost of customer acquisition how expensive, is it to get those customers that we call it a cost of customer acquisition or cat relative to the long term value of each customer yeah.
01:27:55.560 --> 01:27:57.390
Madeleine Clayton: i'm Chelsea are you online.
01:27:58.170 --> 01:27:58.740
Madeleine Clayton: or seo.
01:27:58.980 --> 01:28:12.630
Chelsey Roney, Proxi COO + Cofounder: as well, so i'm the CEO oh and i'm in charge of every thing but product here proxy so I can help answer that question, and our our our customer acquisition cost.
01:28:13.620 --> 01:28:26.880
Chelsey Roney, Proxi COO + Cofounder: We acquire customers in a couple of different ways, right now, one is through generate marketing awareness campaigns on on your regular marketing channels like email social media things like this, a lot of our.
01:28:28.140 --> 01:28:41.490
Chelsey Roney, Proxi COO + Cofounder: A lot of our new customers come in, because they have seen a viral proxy map, so one of the pieces of magic with proxy is the vitality and the flywheel behind a viral.
01:28:41.910 --> 01:28:49.650
Chelsey Roney, Proxi COO + Cofounder: map so when someone sees really engaging map they think to themselves well i'm going to create a map to and so that.
01:28:49.980 --> 01:28:56.370
Chelsey Roney, Proxi COO + Cofounder: That helps lower or customer acquisition costs but that's still data gathering the second way that we get these.
01:28:56.820 --> 01:29:08.880
Chelsey Roney, Proxi COO + Cofounder: willing to pay customers these B2B customers is by reaching out and showing them the value of proxy and we have we're currently in the process of developing a repeatable way to do so.
01:29:09.480 --> 01:29:17.670
Chelsey Roney, Proxi COO + Cofounder: But they really encouraging news is that, as soon as we get someone in a DEMO we've actually never had anyone not use proxy yet so.
01:29:17.940 --> 01:29:33.180
Chelsey Roney, Proxi COO + Cofounder: we're really excited about that, and the other encouraging news there is that these enterprise and B2B customers are super willing to pay so in our early questionnaires to them to these folks who are using proxy about you know how much, would you pay.
01:29:34.800 --> 01:29:39.570
Chelsey Roney, Proxi COO + Cofounder: You know what is the value, you see behind proxy we have you know.
01:29:40.710 --> 01:29:51.060
Chelsey Roney, Proxi COO + Cofounder: We almost everyone says yes, we are willing to pay that numbers over 90% and more over people tried to give us tried to pay us immediately you.
01:29:51.090 --> 01:29:54.000
Chelsey Roney, Proxi COO + Cofounder: Know we're not taking payment right now so we're.
01:29:54.330 --> 01:29:55.020
Chelsey Roney, Proxi COO + Cofounder: Things are.
01:29:56.310 --> 01:29:57.870
Chelsey Roney, Proxi COO + Cofounder: Anyway, it's good over here.
01:29:59.220 --> 01:30:00.750
Rob Wolk: Thank you very much, no.
01:30:02.130 --> 01:30:06.240
Don Seitz: I think we have time for one last but brief question.
01:30:06.360 --> 01:30:11.580
Ayala Gamburd: yeah to two very brief questions, the first is, I hope that this is a protected.
01:30:13.530 --> 01:30:25.980
Ayala Gamburd: And secondly, I just want to encourage you in your presentation and your pitch to include numbers it's critically important as much as what you're creating is a wonderful thing we need to see numbers.
01:30:28.560 --> 01:30:30.810
Madeleine Clayton: Oh, what sorry what numbers do you mean.
01:30:30.900 --> 01:30:33.330
Madeleine Clayton: I can actually financial okay.
01:30:34.350 --> 01:30:34.830
Madeleine Clayton: yeah.
01:30:35.130 --> 01:30:36.360
Chelsey Roney, Proxi COO + Cofounder: That doesn't happen.
01:30:37.140 --> 01:30:38.610
Madeleine Clayton: For you, yes.
01:30:39.450 --> 01:30:39.780
Chelsey Roney, Proxi COO + Cofounder: Thank you.
01:30:40.230 --> 01:30:43.350
Don Seitz: yeah there's always more detail of course available in the breakouts.
01:30:43.380 --> 01:30:45.450
and subsequent conversations, but.
01:30:46.590 --> 01:30:47.280
Don Seitz: Thank you.
01:30:50.250 --> 01:30:54.630
Don Seitz: That concludes, and thanks not only to.
01:30:55.740 --> 01:31:08.070
Don Seitz: proxy but also project plastic true to form, exponent waverly diagnostics and rebel a wonderful presentations I know the audience's eager to both vote.
01:31:08.550 --> 01:31:25.980
Don Seitz: And then hopefully have time to join you in the breakout room until the top of the hour, so we are going to as the judges convene to a separate zoom room to deliberate and make a choice we are going to.
01:31:28.980 --> 01:31:32.100
Don Seitz: launch a poll, so that the audience can also.
01:31:34.170 --> 01:31:47.580
Don Seitz: Vote there's and I just want to make sure, Jim I still see you online, but you're going to join a separate zoom room and Christine you are as well wonderful and i've been a launch this poll.
01:31:48.900 --> 01:31:52.380
Don Seitz: If I can find it or i'm going to ask my.
01:31:54.420 --> 01:32:00.060
Don Seitz: There it is so audience, you heard six great presentations.
01:32:01.080 --> 01:32:09.840
Don Seitz: we're going to ask you to vote for your top choice, only one choice tonight and we'll keep this poll open for a couple of minutes.
01:32:10.320 --> 01:32:19.800
Don Seitz: As you think through the winner and I suspect we're going to have a very broad based set of responses, because of the.
01:32:20.400 --> 01:32:39.960
Don Seitz: strength of each of those presentations interestingly, as you probably noticed, there were founders or women founders, I should say in four of those companies and in fact the fifth company has a one of its founding members also.
01:32:41.160 --> 01:32:53.790
Don Seitz: Being a woman very coincidental the selection committee was looking for diversity of startups in different sectors and along the way.
01:32:54.540 --> 01:33:19.380
Don Seitz: From across some very strong high quality, high Gal caliber pool of applications, we also had lots of diversity in in important ways of gender and people of color etc so pleased to see that why you continue to vote, and while the judges are deliberating, particularly for.
01:33:20.640 --> 01:33:24.540
Don Seitz: The audience that wants to engage I wanted to share.
01:33:25.890 --> 01:33:37.950
Don Seitz: The ways that princeton entrepreneurship Council delivers programs across a wide range of customer segments that are listed on the left here.
01:33:38.460 --> 01:33:53.910
Don Seitz: And the very broad number of ways that we support those segments and allow those segments to engage in particularly for the alumni in the audience and the audience is predominantly alumni this evening.
01:33:54.540 --> 01:34:02.760
Don Seitz: With students, as well the you know the startup showcases much like the one that we have experienced tonight.
01:34:03.690 --> 01:34:13.620
Don Seitz: is just one way we we run workshops that you can attend workshops that you can give we have full day multi day conferences.
01:34:14.310 --> 01:34:19.920
Don Seitz: We have panel discussions that we coin tiger talks that many of you have participated in.
01:34:20.520 --> 01:34:35.160
Don Seitz: They are beginning to return in person, although remain virtual in many cases as well, and then there's a very active mentoring platform called office hours, these are just some of the ways that all of you can.
01:34:36.270 --> 01:34:51.060
Don Seitz: participate, either as a attendee or as an organizer or as a panelist or workshop leader, we encourage you to reach out to us, as you wish to more.
01:34:52.590 --> 01:35:10.560
Don Seitz: vibrantly engage with the princeton entrepreneurship ecosystem and, as I mentioned, we do many of these events, in collaboration with other schools, and so we begin to also network with the ecosystems of those schools as well.
01:35:12.120 --> 01:35:22.230
Don Seitz: So we've got a whole lot of people that have voted will keep this open only because we want to certainly make sure the judges return, and we can then.
01:35:22.590 --> 01:35:38.520
Don Seitz: announce not only the audience choice, but then, most importantly, the showcase winner choice afterwards we're going to set up some breakout rooms, you will in your inbox in your email inbox.
01:35:39.960 --> 01:35:51.870
Don Seitz: at which you registered for the showcase, you will have a new zoom meeting link so at the conclusion of this showcase and the announcement of the winners.
01:35:52.320 --> 01:36:08.700
Don Seitz: You can click on that link in the in your inbox and join that meeting, and from that meeting in the breakout room function along the zoom menu bar, you can pick one or more of the.
01:36:09.210 --> 01:36:23.160
Don Seitz: Of the startups that you'd like to have a one on one chat with and and interact with them one on one in a small group setting where everyone can see each other, and you can have a hopefully a vibrant conversation.
01:36:25.230 --> 01:36:27.900
Don Seitz: I hope everyone enjoyed this evenings.
01:36:29.940 --> 01:36:41.670
Don Seitz: showcase again as i've mentioned, we had really outstanding applications from which these six wonderful startups in their founders were selected.
01:36:43.230 --> 01:36:49.350
Don Seitz: If you have any questions in the meantime and chat to me please, please feel free.
01:36:52.170 --> 01:37:01.470
Don Seitz: And we have 89% participation on the on the audience choice voting so that's that's fabulous and i'm.
01:37:02.610 --> 01:37:08.100
Don Seitz: i'll share the the winner of the audience choice, just as soon as the judges return.
01:38:09.120 --> 01:38:12.240
Don Seitz: So, in anticipation of the judges returning.
01:38:13.440 --> 01:38:39.780
Don Seitz: Let me announce the audience choice winner and I am, as I mentioned to you, it was a very tight races I scan the results, but the winner by a narrow but demonstrable margin is our friends at project plastic nathaniel and the Indian if you're online congratulations.
01:38:39.960 --> 01:38:40.380
01:38:41.610 --> 01:38:58.170
Don Seitz: You are you are very welcome you're doing exciting things why don't you tell us nathaniel and you both talked about some you know near term milestones but why don't you, you know, take a minute, while we're waiting for the judges to talk, talk to the audience a bit more about that.
01:38:58.860 --> 01:39:09.900
Yidian Liu: Over summer milestone is to create a special gel that we can apply to the bottom of our device so that can attract more Michael plastic and then the.
01:39:11.280 --> 01:39:25.830
Yidian Liu: By the MID next year or applies to do our full scale paler past with Atlantic county CT wastewater treatment plants and once desk launched were pretty much ready to go for full commercialization.
01:39:27.240 --> 01:39:29.850
Don Seitz: That is that is very exciting.
01:39:30.870 --> 01:39:40.710
Don Seitz: What did the I think you made advanced partially this question during the Q amp a session but When did the one did this idea initially germinate.
01:39:41.490 --> 01:39:50.130
Yidian Liu: isn't know we're architectural services you're actually nathaniel and I are both architectural designers we did a joint thesis on aquatic.
01:39:51.840 --> 01:40:00.570
Yidian Liu: aquatic infrastructure that specifically designed for big and small, micro plastics, so that became.
01:40:01.830 --> 01:40:09.630
Yidian Liu: A project we kind of continued after graduation so it's it's the first time actually I think i'm designing something that's meaningful.
01:40:12.270 --> 01:40:12.870
Don Seitz: well.
01:40:14.160 --> 01:40:19.350
Don Seitz: It certainly is meaningful and hopefully we'll have significant impact as well.
01:40:19.680 --> 01:40:29.340
Yidian Liu: Absolutely absolutely Thank you so much, and then everyone if you're interested in our tech please feel free to stop by our breakout room i'm happy to answer what what kind of questions you may have.
01:40:30.750 --> 01:40:42.120
Don Seitz: Okay well i'm going to just check with my colleagues for a second to see the status of the of the judges, so please bear with us for just one more minute.
01:40:42.630 --> 01:40:56.220
Don Seitz: Before we announce the showcase winner, as I think you do know the showcase winner does get special consideration by both princeton alumni angels and HP s alumni angels.
01:40:56.610 --> 01:41:07.080
Don Seitz: In their application process to pitch at their quarterly quarterly and monthly pitch nights princeton alumni angels runs quarterly.
01:41:07.530 --> 01:41:19.350
Don Seitz: pitch nights HP s alumni angels runs monthly pitch nights as well as some other showcases as well, so please be patient for another minute i'm going to just go offline per second.
01:41:20.370 --> 01:41:25.710
Don Seitz: to determine the status of their deliberation thanks so much.
01:42:01.020 --> 01:42:04.890
Don Seitz: I am told they're almost finished probably is.
01:42:06.750 --> 01:42:09.540
Don Seitz: vibrating have a deliberation, as the.
01:42:11.280 --> 01:42:22.260
Don Seitz: narrowness of the audience choice voting was again a great reflection of the of the quality and the diversity across the startups tonight.
01:43:11.970 --> 01:43:18.900
Don Seitz: So, in answer to the good questions around the audience choice voting, it was really tight.
01:43:20.640 --> 01:43:24.510
Don Seitz: As I scan the results everyone got double digit.
01:43:24.810 --> 01:43:25.380
01:43:26.610 --> 01:43:40.770
Don Seitz: very closely following project plastic we're in no particular order rebel law and waverly and true to form, and followed by proxy and.
01:43:42.090 --> 01:43:42.990
Don Seitz: exponent.
01:43:44.160 --> 01:43:48.150
Don Seitz: Just to give you a little more flavor there and i'm told the judges are coming back.
01:43:48.150 --> 01:43:48.990
Don Seitz: Here you are.
01:43:49.620 --> 01:43:53.220
Don Seitz: Welcome, Jim and welcome rob, you have the drum roll.
01:43:53.580 --> 01:43:55.500
Rob Wolk: And so i'm going to talk about what we liked.
01:43:55.500 --> 01:44:04.740
Rob Wolk: about the the judges winner and then Jim is going to announce it, but I think we, we had a really long discussion, which I know we sort of got kicked back into this room.
01:44:05.130 --> 01:44:09.540
Rob Wolk: And that's because we were really impressed with most if not all, of.
01:44:10.170 --> 01:44:19.260
Rob Wolk: The presenters and these great companies so first of all behalf of the judges congratulations to all six of you for terrific presentations QA and for.
01:44:19.620 --> 01:44:29.520
Rob Wolk: The exciting innovative and disruptive work you're doing so that's a real endorsement from everybody, so I think this was close and we had a long discussion, but.
01:44:30.450 --> 01:44:49.200
Rob Wolk: You know I think what we liked about the winning company was really strong and focus presentation really strong management team really impressive traction and milestones since founding and I think a really pretty well defined.
01:44:50.490 --> 01:45:02.400
Rob Wolk: definition of what they're doing and the products that they have and the opportunity ahead so overall we thought the presentation was very strong we thought the team was very strong and it was very promising.
01:45:03.000 --> 01:45:08.790
Rob Wolk: But again, as I said, you know it was really close and over to Jim to announce our judges winner.
01:45:09.810 --> 01:45:13.650
Jim Sherman: Thank you rob and the winning startup is reveler.
01:45:14.550 --> 01:45:23.040
Jim Sherman: very, very congratulations very proud to announce that you did a tremendous job all the companies did a tremendous job as rob said.
01:45:23.370 --> 01:45:30.030
Jim Sherman: We appreciate it, it was a very difficult choice we really did we could have gone on for another 30 minutes easily.
01:45:30.330 --> 01:45:43.410
Jim Sherman: Talking about all the different fascinating companies that that you have started here so congratulations to everyone that participated tonight, but we had to pick a winner, so we did pick rebel luck graduations.
01:45:44.040 --> 01:45:49.440
Don Seitz: Evan are you online or if you jumped over to the breakout rooms, if you are, it would be great for us just to.
01:45:51.030 --> 01:45:52.170
Don Seitz: share some comments.
01:45:52.410 --> 01:46:00.480
Evan Zhao: Oh yeah we came back thank Thank you everyone so much this means a lot to us and yeah Thank you again i'm happy to answer any questions.
01:46:01.320 --> 01:46:16.800
Don Seitz: We will get to questions from the audience in the breakout rooms congratulations to revel ah as Jim said and judges, thank you very much, Jim rob Christine and I Allah for your.
01:46:17.910 --> 01:46:29.370
Don Seitz: diligent work this evening, so the breakout room information is in chat it's in your inbox and it's here, please spend some time we did with the.
01:46:30.150 --> 01:46:39.420
Don Seitz: This is the first time we actually had a formal panel of judges process and it took a little bit longer than I anticipated, I think it was worthwhile, however.
01:46:40.350 --> 01:46:59.220
Don Seitz: But we'll we'll open up the breakout rooms now again, you can join one, at a time, but more than one over the course of the next half an hour or so will extend the breakout rooms to 815 since we're starting about 15 minutes later than originally anticipated, but again, on behalf of everyone.
01:47:00.450 --> 01:47:03.300
Don Seitz: Thank you so much, you can jump out of here.
01:47:04.680 --> 01:47:11.190
Don Seitz: and join the breakout rooms now and again, thank you for being part of the.
01:47:12.270 --> 01:47:16.560
Don Seitz: version of the Princeton HBS startup showcase bye bye.