Keoke King ceo, co-founder@participantapwww.participant.life

Affordable Devices for Inclusion

USALow & Middle

Income Country Market

Market size $14 M + $12 M, growing fast

Year 3 market share 6% 15%

New cash payer segment + $1 M

Year 3 market share 20%

Largest Minority Group2017 2050

People with Disabilities ~1 billion 2 billion

% of Population 10% 20%

Wheelchair Users 77 million 200 million

Wheelchair Users Served Only 10%

Social Impact Business

Opportunity

• Participant is on a mission to democratize quality assistive products so that none are left behind.

• Uniques: cross-subsidy marketing, user centered design, exceptionally experienced founder team, strong industry tailwind, 3D printing and local production, B-Corp

Challenge• 80% of assistive products are made

for for 1/5 of the people in need.

Solution• Create affordable variants of proven

products• 10 products in the first 5 years

(design, OEM, or license)• First, use conventional

manufacturing. Design for localization with 3D printing and other tech.

Assistive products are a “bridge” to participation in education, work, & social life.

200 million wheelchair users in 2050

Big Market Big Impact

77 million wheelchair users in 2017

Level 1

Level 2

Level 3

Level 4

* see Income Level from Factfulness by Hans Groningen

Income Level

Market Urgency• USA & Canada -150,000

possible users

• Medicare pays for only one wheelchair. Transportable, outdoor alternatives are very expensive. Poor satisfaction.

• Lower Income Countries - fewer hospital births ==> higher incidence

TAM# SAM# TargetUS LIC* US LIC US LIC

Pediatric WC 100 69 80 35 40 9

Cushion 77 53 6 27 3 14Adult WC 533 369 96 185 48 46

# TAM - Total Available Market# SAM - Serviceable Market* LIC - Lower Income Countries** figures are in millions USD

• Lower Income Country market growth 10x in next 5 yrs. CAGR 3.7% due to UNCRPD*.

• WHO Priority Assistive Products List is focusing demand.

• ATScale2030.org - market shaping is pushing government procurement.

Strong Tailwind

* UN Convention on Rights of People with Disabilities

Product1 Features*

Benefits• Participation & health• USA: travel, quick trips,

outdoor play• Lower Income Countries: First

and only

• Tilt and standard postural support features

• Ruggedized• Jog stroller or wheelchair• Foldable and light• Removable seat module

usable as highchair• Grows with child• Walker and gait trainer

modules

Jog stroller, small rear wheels

Wheelchair, large rear wheels

Patent pending

Envisioned Solution

Mo

re a

ffo

rdab

le

Liberty $320

More customizable

Eio $600

Product1 $650

Cruiser $2300

MotiGo $373

>$4500

US Market

LMIC Market

Eio Cruiser Liberty MotiGo Product1Wheelchair or stroller

Jog strollerFoldable

Dynamic TiltCanopy

HighchairColor

optionsTray

Grows w/ child

Widths (in.)Weight (lbs.)

Price

8-1414 6-1910-18

Eio Cruiser>$4500 US Product, ex. Quickie Iris

Liberty

Product1 $290

3561483022

$600 $2300 $320 $363 $650/290

7-13

Secret Sauce

• Manufacturing - Initially, conventional manufacturing and limited value added - make consumable parts and partial assembly. Later, full local production with 3D printing - a factory in a box. Governments love this.

• Partnership with Nissin Japan for R&D and manufacturing

• Cross-subsidy - one base model for the USA and lower income countries. Low unit cost and sustainable margin.

• Product delivery and support streamlining

Competitors• Giant, slow, organized for Medicare prices (Sunrise, Invacare)• Or, very low quality design and price• Participant takes middle “value

positioning”

Business Model

Product1

High Income Country Market

(HIC)

Middle Income Country Market

(MIC)

Low Income Country Market

(LIC)Parents of children

with disabilities Distributor NGO

Price (to Amazon, Distributor, or NGO) $660 $450 $290

Manufacturing Cost $219* $209 $190

Shipping & Handling $42 ExWorks ExWorks

Amazon’s Markup (+15%) $99

Customer Price $759 $450 $290

Gross Profit $ and % $399 | 61% $241 | 54% $100 | 34%

* upscale model

Go To MarketUSA• Indiegogo pre-sales• Support groups• Webinars• Direct by e-commerce and

remote support (disruptive)

LMIC• Field trial LOI PO Contract• Conferences• Supply depots (UNICEF, CLASP)• Sales agents (Kenya, Colombia,

India)

User feedback

Indiegogo pre-sales in the USA

eCommerce & ExWorks sales to NGOs

Working prototype

Field trials Mass production February ‘20

FoundedMarch ‘18

Indiegogo (rewards)

Design freeze

Today

TeamKeoke King, MBA, CEO, BoD, 35% owner

• Sold 30,000+ wc in this market• Founded the CLASP supply chain solution

Dave Calver, OT, Chief Clinical Officer, BoD, 32% owner• Provided clinical service for thousands people in over 10 LMIC countries• Recognized global expert, wheelchair user, our evangelist.

Wayne Hanson, Product Developer, BoD, paid by royalty• Inventor, numerous innovative and top selling chairs. •Serial entrepreneur, founder of Kid Kart, founder of this industry. Three

successful M&A exits.Ghost, Chief of Design and Innovation, 34% owner

• Designed 100’s of wheelchairs, currently holds a CEO position• Joining at close of seed round

Advisory Board Expertise: Regulatory; CPA; Physical Therapist; Digital Marketing; Wheelchair Sales

Mass Pro (MP) P11st Proto Product1 (P1)

Traction• 3 successful crowdfunding efforts ($5k SSG, $10k IG, $10k Kiva)• 2 field trials done; 19 on plan (Kenya, Colombia, Canada, etc)• Letters of Intent for 3,000 units/yr., 70% of 1st year sales target.• Feedback from 200 experts

MP P3-6

Revenue Loan

MP P9-10MP P2 MP P7-8

March 2018

Indiegogo Pre-Sales P1

Thomas from Marin

• “We have been searching for years … Product1 is a real solution for a family like ours.” • ‘…impressive, unprecedented quality…borders on unfair to competitors’

• Seriously Interested NGOs and Distributors:USA, New Zealand, Canada, Indonesia, Philippines, Cambodia, Vietnam, Thailand, Samoa, Tanzania, Somalia, Kenya, Ukraine, Turkey, Kuwait, India, Togo, Romania, Peru, Russia, Colombia, Argentina, Georgia, Uganda, Mexico, Afghanistan, Tajikistan, Myanmar,

Equity A-RoundRevenue Loan

Today

• $440,000 revenue loan; paid from 5% of sales revenue; payback is 1.5 times invested amount; includes a 15% discount on future A-Round equity

• To date, two checks totaling $200k; $100k committed; minimum of $150k needed; cash on hand: $165k

• Pays for: 10 Prototypes, field trials for Product1 & 2, marketing, testing, FDA fees, and manufacturing tooling (a valuable asset)

• Fuels growth until Product1 is on sale and Product2 is in trials.• Then, $400,000 revenue loan in August ’20; $500k equity round late 2021