Arka solutions final presentation
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Total Customers
Contacted: 86 1RIT NSF ICORPS Dec 14 2011
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Initial Business Concept
RIT NSF ICORPS Dec 14 2011 2
Global lighting industry - $100B
LED lighting - $6B, CAGR>40%
Enhanced cooling allows• Higher lumen output• Higher light quality• Better reliability
LED Replacement Lamps
~500 million sockets * $15/lamp =
~$750M
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Entrepreneurial co-Lead
Kirthana KripashMBA (Candidate), RIT
Entrepreneurial co-Lead
Ankit KalaniMS Engineering (Candidate) RIT
Principal Investigator
Dr. Satish KandlikarGleason Professor
Mech. Engg., RIT
Mentor
Dr. Suresh SunderrajanPresident, NNCrystal Corp.
Kandlikar and RIT Team – NSF I-Corps
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Kandlikar and RIT Team – NSF I-Corps
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Customers Key PartnersChannels
Kandlikar and RIT Team – NSF I-Corps
“We are willing to wait 5 to 7 years
for the price to fall before we adopt
this technology on a wide scale. ”
“If you bring us a modular thermal system that provides better cooling at lower cost, we would definitely want to explore this technology.
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Arka Lights•LED
array, Lamp components
Luminaire Manufacturers•LED
luminaires and Fixtures
Distributor
Contractor
Project/Owner
Other Components Arka provides
replacement lamps
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Customers
: The customer is unwilling to buy the product at current prices
: The final consumer is highly dependent on Gatekeepers (suppliers) for guidance in product choice
Distribution and Supply
• We lack in Lamp/Luminaire production
• OEMs were interested in incorporating our enhanced thermal module in their product
We had to pivot! Kandlikar and RIT Team – NSF I-Corps
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Arka Lights
OEMs
• LED luminaires and Fixtures
Distributor
Contractor
Project/Owner• Institutions, Home Owners, Distributors
Other Components
Arka provides Thermal Modules
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Customers Key PartnersEnvironment
We would like to enter into a partnership to develop heat pipe based products.
Heat Exchanger
Manufacturer
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• Our competencies lay primarily in the heat pipe industry
• The most encouragement came from a heat exchanger manufacturer who is looking to expand his product line.
• Our Business Model iterated; we will now focus on heat pipe based solutions in diverse applications.
Kandlikar and RIT Team – NSF I-Corps
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• Arka prototype runs 15 C cooler, allowing more LED placement per lamp
• Prototype delivers 100 % more lumens for the same form factor
• ~30% lower cost/unit for similar lumen output
• The weight of Par38 is 65 percent lower, and the manufacturing cost is $4.50 (current module costs about $2.20)
Commercial PAR 38 Arka Prototype
52 °C (max)37 °C (max)
12RIT NSF ICORPS Dec 14 2011
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ArkaLights
Division?
Partnership?
Market
Market
…
Heat Exchanger Manufacturer
Design Sources and
Technical Experts
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• Negotiations with Heat Exchanger Manufacturer (HEM) ongoing.
• Arka provides::IP, heat transfer expertise, design
• HEM provides: Manufacturing, distribution and sales channels
• Arka will be proactive in exploring other market opportunities.
– Additional revenue/cost models will be explored using the methodology of this class
Kandlikar and RIT Team – NSF I-Corps
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• The Process:
– Iterations occur organically when you respond tomarket and consumer needs.
– Explore unconventional opportunities, be OPEN, andbe aware that potential partners may be sitting nextto you in a plane. I probably met my futureprototyping partner on my way to Stanford.
• The Market:
– Understand your customers, channels and partners
– It’s about money – customer’s, partner’s and yours –respect that without forgetting your core values.
Kandlikar and RIT Team – NSF I-Corps
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• Most Valuable Game Changers – Your Students!– Recognize the innovative potential of your student– Guide them to pursue commercialization: from their mom’s
gardening business to successful technological products– Motivate your students – Be ENABLERS. You can shine on your
own, but you can “nucleate” many more stars.
• Most Valuable Assets – Your Ideas and Your Drive
– Dream of Possibilities
– And then make them HAPPEN – you will know how by simplyGETTING STARTED
Kandlikar and RIT Team – NSF I-Corps
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Joint Venture
Firm
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– Show innovativeness
– Integration of Student education on commercialization
– Hope to get NSF implementation grant for RIT curriculum
– Hope to be NSF face on commercialization initiative
– Create a start-up and be successful (really start a heat pipe company)
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• What I hoped to learn.
– To be involved in a grant based project from start to finish
– Understanding the needs and requirement of product development ( from research lab to an actual product)
• What I learnt.
– What entrepreneurship really means
– How to talk and listen to ‘actual’ customers
– Understanding requirements for a start-up not just product development
– Presentation improvement skills
– Planning and working to meet deadlines
– Being flexible and responsive to feedback
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• What I hoped to learn:
– How to understand and facilitate the technology commercialization process
– How to work with technical teams
– Student and University based technology commercialization and resources
– If academic training in entrepreneurship translates in the real world.
• What I learnt:
– Working with a idea at the nascent stage while incorporating customer feedback allows room for easier growth and modification
– Concepts and Theories do not convert easily to product features. Prototyping from paper to product takes time, effort and an ability to improvise.
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Week 1 - 9
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