Post on 23-Dec-2015
Photochromic contact lensesProject of spin off company
Aleksandra Głodkowska
Bob Knarr
Marta Fik
Mikołaj Świder
Radwan Mohamed
Bromm’s Vision®
What?Photochromism
UV radiationVisible light
Photochromic contact lenses
Bromm’s Vision®
Why?• UVA and UVB protection (200-400 nm)• Human lens protection (avoiding
cataract)• Improvement of esthetic and comfort
aspects
Global StatisticsContact Lens Statistics
Number of people globally who wear contact lenses 125 million
Number of Americans who wear contact lenses 38 million
Annual worldwide revenue from contact lens sales $6.1 billion
US annual revenue from contact lens sales $2.1 billion
Average age of contact lens wearers 31 years
Percent of wearers who are female 67 %
Estimate worldwide annual revenue from contact lens sales in 2015 $15 billion
There are no such photochromic contact lenses anywhere in the world: no competition in this market
Our
Cor
ner
of th
e M
arke
t
Bromm’s Vision®
http://www.euromonitor.com/
Where?• Poland WHY?
o Living in Polando Inexpensive materials and cheap
manpowero Advanced researcho Placed in central Europe
Bromm’s Vision®
Contact lenses in Poland
• Usage doubled from 1% to 2% between 2005 and 2012
• The level is relatively low compared to 5-7% in Western Europe and even 10% in the US
• J&J dominates with Acuvue because of a variety of products
• Compound annual growth rate of 7% predicted for the next 5 years
http://www.euromonitor.com/
0.7M of 38.5M
Bromm’s Vision®
Contact lenses in France
• The contact lens market has suffered due to the economic crisis
• Loyalty to J&J (second brand in French market)
• Low predicted growth and a consolidated market with just a few major companies, it will be hard to enter this market without licensing
http://www.euromonitor.com/
3 M of 65.8M
Bromm’s Vision®
Contact lenses in Germany
• The convenience of using contact lenses and the innovative products that are on the market have contributed to the growth.
• In addition, contact lenses are preferred by the fashion conscious as these are considered to improve the appearance.
http://www.euromonitor.com/
2.7 M of 81.8M
Bromm’s Vision®
Contact lenses in the UK
• Contact lenses made of silicone hydrogel have been growing strongly in the UK
• Most manufacturers are now incorporating silicone hydrogel in their new product innovations as it has almost become a must
http://www.euromonitor.com/www.bcla.org.uk
3.7M of 62.7M
Bromm’s Vision®
Bromm’s Vision®
Demographics
Contact Lens wearers by SexSoft Contact Lens- Female 64% – Male -36%Percentage by AgeSoft:17 and Under – 10%18-25 – 23%26-39 – 45%40+ – 22%
Market is slanted to short term contacts
Contacts Vs Glasses
Glasses Contact Lens 0.00%
10.00%
20.00%
30.00%
40.00%
50.00%
60.00%
70.00%
• Glasses are seen as stylish; contact lenses offer less utility for minor vision problems
• There is a lot of ground to gain for contacts
http://www.aoa.org/patients-and-public/caring-for-your-vision/contact-lenses/facts-and-stats
HELPFUL HARMFUL
INTERNA
L
Strenghtso novelty of inventiono co-founders are scientists
(creative & powerful minds)
o ability of continous fitting to the market
Weaknesseso poor experience
in businesso non-recognizable
trademarko Contrahents – financial
fluence
EXTERNAL
Opportunitieso expansion to external
marketso growing number of people
with vision defectso possibility to sell the
licenseo consortium with research
lab (e.g. UniverSUD Paris)o venture capital
Threatso global crisiso competitor’s inventionso growing number of
permanent vision treatment (surgeries)
o patient’s preferences
Bromm’s Vision®
Bromm’s Vision®
Personal dataPosition
heldImprovement
needed
Needed time
period
Expectations of the position held
Carrier development
BSc Aleksandra Głodkowska
MSc Student Optometry
Scientist, Networkin
g
*PhD study in optometry,
specialisation in contactology
5 yrs
*Broadening the knowledge in contactology
*Improvement of business skills
*Prestige in scientific environment
*Scientific carrier in contactology (proff degree)
*Carrier in business
BSc Bob Knarr
MSc StudentPhysical and surface
chemistry
Market researche
r/sales
*MBA *Short course in
marketing1-2 yrs
*Understand the market and use this to sell our
products
*Connetcting with major contact lens producers
*Opening markets in new
countries
MSc Marta Fik
PhD Student Bioinorganic chemistry
Team leader
*Internship in spin off company
*MBA*Patent law
2 yrs
*Connections with business environment
*Improvement of leadership skills
*Prestige & financial benefits
*Expanding existing company*Casual position
at business university
MSc Mikołaj ŚwiderFundamental &
Theoretical Physics
Market Analysis
*Internship in spin off company
3 yrs*Understand the polish
lens market*Team particular clients
*Carrier in business
BSc Radwan Mohamed
MSc StudentChemistry
Intelectual property
*Patent law 2 yrs*Communication skills
*Business administration skills
*PhD diploma in intellectual property
Intellectual property• Exclusive rights • Patent protect the production
processto sell it (photochromic contact lenses with new technical characters).
• Trademark protect the sign which identifies the product (Bromm’s Vision®)
• Industrial design protect the packaging of the product (B shaped box).
Bromm’s Vision®
The steps of protection
Bromm’s Vision®
• Protection period (of final product, technology process, packaging, trademark) 3 years
• Protection area Germany, France, Poland, United Kingdom
The steps of registration• Obtaining the CE mark• Approval of
Bromm’s Vision®
Seed capital
Seed capital
Recommended
Own financial resources
Angels investment
Bank loans
Partnership
Risky
Loans from family members
Gambling
Etc.
Networking & Cooperation
• Laboratory of Vision Science and Optometry- Faculty of Physics, Adam Mickiewicz University in Poznan
• Optometry Institute at Paris Sud 11 University
• PTOO – Polish Optometric Association • PSSK – Polish Association of Contact
Lenses• Johnson&Johnson Company• CooperVision Company Bromm’s
Vision®