The all-new iPatch is an Augmented Reality (AR) technology Head-Up Display (HUD) device with computer-generated and object recognition sensors that bring together data from the digital world and the physical world, real-time.
The ultra slim iPatch has every detail crafted to the user’s personal choice, and can be shaped into a classic pirate-worn eye-patch, stylish glasses and even a one-of-a-kind ‘I’ll be back’ designer shades. The iPatch has no boundaries.
Earlier, at an event in Singapore I was privy to an angel investor sharing his candid views of early-stage startups and the kind of questions startups should expect from investors. Let’s see how iPatch shapes up to these 4 pertinent questions -
Can you deliver significant differentiation over your leading competitors?
The competitor in the case of iPatch is Google Glass. iPatch with access to mass market manufacturing and vendor technologies like Gaze-interaction, will be much more cost-effective than the less than $1500 Google Glass.
Also with iPatch’s aggressive distribution strategy in place, where design experts coordinate with ophthalmologists to create the kind of eye wear sold by optical accessory centers. iPatch will also reach out to leading electronic stores for a wider distribution.
Can you evolve your product to compete in the mainstream market?
Besides the cost-effectiveness and the extensive distribution network, this sleek handy device will have a therapeutic effect. It can reignite brain processing in either eye by facilitating the optic nerves’ brain functions to realize the wearer’s visual on-demand instructions.
This iPatch brain wave interaction can further activate meditative elements that alleviate stress, induce sleep or create an ambience of relaxation for the user. These findings are from extensive research, one that the iPatch team would invest in, working closely with lens pioneers.
Is it a profitable customer segment?
Global eyeglass market is set to reach US$95.66 billion by 2015 according to a report by Global Industry Analysts. Add to it the exponentially growth witnessed by tech accessories sales, you get a lucrative customer segment. Mass production and distribution of the iPatch will add to the profit margins.
Is the addressable market large enough?
Currently close to 500 million people wear glasses, with the numbers set to increase dramatically if the fourth of the world’s population that’s nearsighted, and the 30% farsighted people are tapped. There’s also a fast-growing market of eyewear as a fashion accessory.
According to the National Eye Institute statistics, 75% of Americans use some form of corrective lenses, with 64% wearing glasses and 11% contact lenses. With the focus on cost-effectiveness and efficient distribution mechanism, the addressable market will include the emerging word as well.
With these 4 questions dealt with, you can expect a rush of angels, and even an opportune time to ask your questions for potential angel investors.
Now for the grounding truth, if you hadn’t figured already, the iPatch doesn’t exist. It however helped us in understanding what strikes resonance with Angel Investors. Want to know more about startups investments? Let us know.
Join Grow Venture Community
This entry was posted on Monday, February 25th, 2013 at 7:13 pm and is filed under Startup Investors. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.