hi I'm Marius and we're travel angels there are 800 female solo travelers who just arrived in India today so I want you to meet Melanie Mara Lina she's a 27 year old corporate professional living in Brisbane and she wants to see the world she's interested in going to developing countries she loves volunteering and last month she actually went to Dali and she told on her own and she was living her life then everything changed she got injured she was ran she was ran over she was ran over by a motorbike and was an urgent need of critical medical medical assistance nobody around her was able to speak English and nobody around her was care to care to help her and she ended up waiting on the side of the road for two hours for medical care so this is common 500,000 bike accidents happen in India per year and actually this is very personal to me because Mara Lena is my sister and and there are murder Nina is like any other woman traveling on her own it could be your sister it could be your daughter it could be your mother and it could be any other of the four million woman who tact solo travel on Instagram so I was inspired by the story because I wanted to create a team and to create travel angel that will prevent Marielena from happening this again so travel angel is a discreet yet fashionable device and margarita will tell you more about it so imagine that mara Lena had travel angel by her side she arrives in Delhi she picks it off either from the airport or at every major hotel in Delhi as well it takes five minutes to set up and pair to your phone create a profile and the reason we have a separate device is that your phone can often be unreliable in third-world countries right we ran out of battery and we get you know damage to our phones or it gets stolen if an accident happens all Marlena has to do is press the button for three seconds she will then get a call from our travel angel headquarters which will assist her with any inquiry that she may have so for example booking a local doctor that speaks English if she doesn't answer her phone however then it is more grave and her trouble angels will come out to her based on the GPS satellite location and will be able to assist her our travel angels are passionate paramedics that are experts in medical care Persis all helped theft insurance claims and rehabilitation and they will be with Marlena every step of the way including rehabilitation right definitely travel angel will be add Marilyn aside through every single step through the recovery process so that she can go back to what she do what she loves to most to travel solo traveling is a new trend especially so in women google trends show that the searches for this keyword has increased by a hundred percent over the past five years to 100 million Hey what's more exciting than that is that they love it and they're do it again with the market this attractive there's gonna be competitions out there right so let me walk you through some existing options and see where travel angel stands and give you the advantage currently there are three kinds of surfaces out there addressing this issue the GPS tracking only type the alert only type for friends and family and the super super expensive type of personal concierge so our proposition in this business landscape is to provide you with a high value affordable personalized service at your when you need it the very very most next we have chip to talk about some highlights of our business model thank you we believe that we are going to address first the deli market because data is the largest airport in India we will need a further start $200,000 to put to YouTube videos what are we going to do we are going to employ a very careful strategy to advertise and market at the point of sale which is the airport we believe by making a good use of two hundred thousand dollars we could break even in the first year with revenues of three hundred thousand dollars and in the second year will be on profit of one hundred and fifty thousand dollars with a sales with the revenues of six hundred thousand dollars the next market that we are going to go after is the rest of the six major airports in India that would allow us to generate revenues of 1.5 million dollars and a net profit of five hundred million five hundred thousand dollars then the expansion will go to Thailand Philippines Indonesia and we envisage strategic partnership with Airlines and not-for-profit organizations I let you give in to and also research solo Chabot is the fastest growing tourism segment and has skyrocketed in last five years and also these solo travelers have experience in travelling to developing countries and always had a situation involved in emergencies and problems that could they couldn't stop themselves this is where troubles comes in and we believe travel and your could be a good solution to these problems so we've talked to over 80 women that are telling us that they have had similar travel situations where they need travel angel it's not just women though it's also their families that care about them and a solution like this would make them feel safer about these women going out and making the world a better place so you're in great hands and we really think that we've been sent from up above with over 50 years combined experience in startups marketing and trip ownership and passion for making the world a better place for these women so our us today is for initial seed funding to pilot travel angel in Delhi India with our mission to expand it further we are looking forward to working with you to provide solo female travelers like Mara Lena and every other women out there with the help that they need in the toughest of times thank you very much [Applause] yes I've got a question so I said you your custom recognition cost us 16 dollars how much do you make per customer and is the device range we'll buy or how does that work yeah so the device is picked up when you arrive in your destination we'll also do marketing beforehand so we'll work with solar travelling influencers it's a very niche community and also travel agencies that specialize in female solar trouble so they'll arrive and they'll get that extra reminder if they forget to pick it up at the airport they'll have it at all hotels so the financials yeah numbers numbers question yeah the answer is they would pay forty nine ninety five per week so the cost of acquisition is sixteen dollars and they would pay that amount which is rather conservative taking into account that the average length of the journey in India is about 10 days but but we wanted to be more careful with with the projections and we projected for 7 days how do you build the Angels Network because presumably they're really critical than getting the right people in this group absolutely I can answer that so our paramedics are local and I think with the gig economy a lot of people are moving away from working in you know local help emergency services and they want more flexibility so we'd really tap into the local community of paramedics and trained medical health professionals that deal with this and see a gap in the market so they can actually you know go back to their passions of helping these women as quickly and efficiently as possible sorry I'm interested in the technology that underpins your solution so how you're obviously using and often the shelf technology or the images just indicative yeah we are using we're working with specialist suppliers to build out that technology and considering that in third world countries there's a lot of remote location so we have satellite separate to your foreign that will connect you to the travel angel headquarters and how does acquisition of the technology feeding to the the question that was asked the first the first question was asked in terms of your pricing what portion of your your overhead is technology acquisition the the cost per acquisition for the bracelet is estimated at around $40 which is again conservative because the current price is around 25 to 230 dollars while the satellite connection for one year of subscription is 149 dollars and it fits into the the business model that we're presenting thank you you [Applause] g'day my name's Aiden and straight out of high school I made a really stupid decision I thought studying engineering was a wise career choice for me luckily I figured this out pretty early and swap to pharmacy where my skills are much better suited and much more interesting however this mistake still cost me 12 months and $16,000 that 16 grand I would really like right now to put towards a house deposit right now there are thousands of grade 12 students facing the same issue basically it all comes crashing home when people start walking up to you and saying hey what are you gonna do with the rest of your life now that's a hell of a question especially when you're only 17 you're already worried about your exams and terrified volume eights moving off in a couple of months just like them I got this book which is basically a list of all the different degrees that you can do and one paragraph on each one then we went to a career counselor who was so time poor you only get about five minutes with him and he only has enough time to say this is the basic application process I mean this is the very definition of an analogue solution to a digital world problem the problem with this is that obviously you get no depth of insight into what you're about to study but more than that you get no human face you can't visualize yourself in this role at the end of this at the end of this expensive process we want to help the kids fix this their student out there just like Aiden you're frustrated and disgruntled due to the mismatch or money and the mismanagement of time there's a fundamental lack of support for high school students looking to pursue higher education through our primary market research sixty-five percent of the students we interviewed thought they need a better advice in high school they felt they were adversely affected by the initial decision I had since chosen to change a degree Alto to address bull market is 123 million dollars and our primary customers will be secondary schools the reason for this decision is because secondary schools have a vested interest in the success of the students the schools are vetted by the government's on demand of graduates that pursue higher education afterwards which puts the prestige and reputation on the line high school career counselors often have to look after hundreds of students in a final year which really impacts the quality amount and quantity of advice they can provide to the students we believe we can help the counselors provide a personal experience to the students and help them secure their future we are on a mission to help the students in high school make better career decisions our solution is an online web platform where students will be presented with the list of questions about the trends and interests these answers to these questions are then fed into our machine learning algorithm which is already pre tailed with initial data about the students who have been successful in making right career decisions they are then presented with the recommendations of the kind of courses they can choose from once they choose one of them they are then presented with a list of videos which will explain them the kind of rigor and the kind of courses they'll have to study in that specific degree we also have this interface for the high school administration so that they can understand what kind of choices the students are making and help them effectively we are also considering other options like discussion forums where we will be able to connect them with industry mentors and we are also considering the data we collect so that we can universities can target to the right customers we did some computational analysis and we found that all these competitors are lacking in two main aspects or biggest point is that they don't give the experience how it is in that specific course so we actually give them enough information about what we'll go through so that they can make better decision another very important aspect is the data point that what happens after they choose that decision to the drop out of the college do they change the course or do they continue doing the same thing we are actually collecting that information back into our machine learning algorithm so that they can make better decisions we as a team believe in this project by using future me students like a genome we have a better understanding of what program to study when they get to university high schools have a keen interest to make sure that this works because this directly their impact their performance reads also just last year the government introduced a cap on the borrowing because government funded education actually exceeded the fifty billion dollar mark for the first time in history this represents a unique window of opportunity for us and this market is very attractive for our beachhead in terms of our business model we intend to capture just a small fraction fraction of this value we are in a business-to-business space so all the high schools would be our economic buyer and the students will be the final end-user we're going to use utilize the subscription model whereby we are charging four thousand five hundred dollars to each unit each high school and each high school we get as a customer this represents eight thousand dollars worth of profit and comparing that to a cost of customer acquisition of less than one thousand dollars as we go as we look into the long term we believe that this is a sustainable business a decision-making unit consists of four main groups the students at other end users the parents at other influences the schools that are the end users and the economic buyer and the government that's an influencer with veto power through our decision-making process we aim to engage these stakeholders through workshops and networking we also have two additional stakeholders industry experts and university students who help us create our video content and then there's us why are we the best team to tackle this job well with our expertise in the technology technical area between me and Goggins engineering experience we can tackle this solution we have the business mindset into kundan aaden's experience and the consulting and stakeholder management experience in Harry's brilliant brain our value comes down to Aiden's story at the beginning how many of you guys experienced this in high school I want you to think about your experiences about the hardships that you came in trying to make this decision and how many how much resources did you have to be able to do that and where you support it on your journey when we spoke to teachers they told us that students report getting key benefits when they're presented with their personalized options and have the freedom to go in explore them and that's what our platform does it provides that coyote for students during a busy time of their lives while also aiding teachers who are under-resourced and trying to fit all of this into a jam-packed curriculum so if you want to be part of if you want to inspire the next generation of students come and talk to us and be a part of the journey that is thanks for the pitch that was really good I definitely see the problem I don't know what I want to do when I grow up I'm just curious I have a lot of questions but one is your validation on the school side so you talk about validation on the student side you talked a lot about the student problem but you are actually selling to the schools how did you validate that so I went and talked to a few different teachers and school counselors about what struggles they see their students go through and the types of problems that they come across so that's how we got some of the information that they're trying to engage all of these students through a lot of activities but it's hard to fit it into the curriculum so that's why we kind of went down this road for our solution because it it enabled the school counselors to give more personalized service to the students while fitting into something that was already really packed and full and it our solution just aims to make life a lot easier for these two people did you actually pitch a price point to the school four thousand five hundred per year per school and did you get feedback on that did you get validation that that was based off a thirty dollar per student price and then we averaged out the number of students and schools and I worked out about a hundred and fifty average grade 12 is per school but the schools are getting measured on this they're getting metrics and assessed by the government and they already have a budget for this sort of future learning for counselors just to add to that we spoke to some people who are already in this market and providing services to schools in terms of providing mentorship and internship opportunities and they're providing around that price point to schools at the moment as well if no one else has a question I'll keep asking where do you see yourselves in the future because to me this concept of you know going in during six year degree is pretty much dying like when shifting to micro degrees and six careers in a lifetime and it's actually more about understanding yourself not the options so where do you see the future of this so this is a Minimum Viable Product this is where we saw the earliest way to break into the market after this we're looking to expand basically into the corporate world we'd like corporate advertisers to put their career paths next to the uni degrees so they can attract talent straight from high school into there I've got one more the key buyers here your schools which you've done at Brussels 150 bucks ahead didn't you share that that's come out that you've got there's money for these the universities are changing they're going to micro credentials and things like that so I think you might need to think a little bit more about the the way you engage with them because there's the opportunity be sits between those two players I think I wonder if you could talk a little bit more about your discussions with the unis about where you think the value is in why would they buy why would they can yes we spent a long time thinking about are we charging students for this are we charging high schools or are we charging unis and when I was speaking to the University Council I don't hike you there they were really positive you you morning meet Raj he's a 21 year old engineering student in computer science at a private university in New Delhi in India he comes from a middle-class family but he spent most of his life playing video games like most people at his age but now he's a year away from graduation and he knows he needs to find a job and he knows he doesn't have the skills for it he also doesn't want to make the mistake his peers have made in the past where they have tried to take many online courses and never found the perfect fit as I said he's from a middle-class family so his family is really looking forward to him getting a good job and being able to support the family 95% of computer engineering graduates in India are not fit for software development jobs now 80% of our market agrees with that statement and is working to overcome this the problem of this is for two main issue reasons number one these students do not know where their skill gaps lie compared to their peers number two they also don't know which courses will fill the skill gaps that are the industry sees as gaps due to the increased amount of content out there for them enter my meant my meant is an online learning platform so when Raj baffled with a lot of choices like all of us have been comes to our platform we create a profile for large we ask him based on a lot of questions for example do you like experience in learning more because we believe that every student has a personal learning path and he should not be put in a system that makes him study what everybody else is studying we believe every student is different in a way that some students study more on the weekends some Suri more on the weekdays some like a lot of us here right now study seven days before the exam and still want to crush it a lot of us are in this space so which means when we start building platforms and when we start building profiles for student we explore their learning path we also collect data around this which means how much time they spend on videos do they skip a lot of videos which means they're not really getting through a lot of content we create personalized learning plan based on these how we create this plans is we go through all of the content that is freely available on the Internet which means the student does not pay at all we go through the freely available content from that content we gave him a recipe a recipe that will make him successful at mime and we believe what you do decides where you go and at mime and your past is your future according to research in the online education learning space students that come to online learning platforms to study what they are really interested in take over 20 hours of research over 60 days that's two months lost just trying to find what you're going to study at moment you create a platform and we give you what you should do what you should focus on to any minutes one day this platform now also tells you what your strengths are what your weaknesses are where you should be focusing projecting to your employers your strengths building on your weaknesses so you can make yourself better every day compete with your peers by collecting mime and scores these moment scores help you get a lot of competition going on in your community also a great thing that they do for us is the students that collect higher my math scores are also eligible to buy more learning plans from us which means they study more from us give us more data so they make their own learning plan more personal more accurate to them so let's talk some business to kind to adapt their learning plan based on their need so we start with running one learning plan with $10 free learning plan for $25 and five learning plan for $40 we did also a little bit of research market so there are some competitors availa in the market but what we believe we are providing a meeting the two most important priorities of our targeted users personalization and affordability on the top of that you have a platform which is gamified meaning they can compete they can compare with their peers we provide them with the cross-platform content online free flat contents but with the best quality base underneath and they can save some time 20 hours to 20 minutes so it's important to mention that we have proven that this business model if ina is financially sustainable in the first year we're going to reach at least 35 customers giving us at least 1.3 million of revenue due to our marketing strategy and also our sales expenses we went to reach a tier 5 more than 250,000 customers there to bring us nine nine million dollars expected revenue so diving deeper into our lifetime value and our cost of customer acquisition at the first year to reach our sales and the marketing suspense our cost of customer acquisition is quite higher however during the years this causes a decrease based on our network effect after year 5 we went to reach ratio between our our lifetime value and our cost of customer acquisition at 7 which seems really incredible our international team have all had the same problem we've all wanted to know where we need to study to improve our skills to meet our industry needs we also have 50 hours I'm sorry excuse me 50 years of experience across development ai design marketing and finance so let us help you find the best programs and courses to study to meet your industry needs and fill your skill gap where my meant thank you so thanks guys that was a great presentation full of energy which is amazing given what you've all been through in the last few days I'm really interested in understanding how you arrived at your pricing model can you talk to us a little bit about how you built that oh the pricing models so we have a consumption based pricing which means once the user buys the first plan so for example I'm a new user and I've just come on sir I'm gonna just cut in there I understood the pricing model but how did you arrive at $10 per module for example you know what was the basis of that decision so we basically try to understand the market so I've studied in India so I kind of understand what a student would be ready to pay for a learning plan so that's a reason we went for like the $10 plan because we know finder Droopys is like something that they would be ready to pay or 600 rupees and we also went for $25.00 because we thought that's what they would be really interested in because most students are ready to put up an amount of say close two thousand two thousand five hundred rupees which is that range of $25.00 and they're they're happy with spending that much beyond that is a bit of a far-fetched thought or something that we just we just put the other plan out there for them to think about but our main target area is that $25 because yeah most most courses online right now even if you have a look Coursera or any of these other courses they do charge somewhere around 2,000 to 3,000 rupees so which is around 50 to $60 so that's the reason we kind of christ' it in this manner also to add to that great point I've worked at Udacity for a couple of years myself and one of the key things that we had was our pricing was too high so to deal with that when you know pricing is lower we're not bringing in another economic buyer in the picture which means if the pricing goes $2,000 their parents will have to pay for it at that age so this is a decision that they can make with their own pocket money they don't have to involve too many people they can try and test it out and then maybe ask for money for larger plans from their parents thanks guys that a great presentation look the the the piece I'd like to understand a bit more is the the key differentiator I think that you put up and that is this personalized learning plan can you talk a little bit about how you think you're going to develop that in a way that's not you know human being intensive so there are two ways to it first we will go through all of the free course content that is freely available on websites like Udacity and Coursera so their core is basically they want to do growth mortals with you know throwing out a lot of free course content over there we take all of those freakos modules we run algorithms on them for behavioral insights so when you know for example a teacher is teaching is he teaching with more examples is he teaching with a lot of funny content in the middle easy teaching to fast is he teaching to slow once we have those attributes for a video and we know what title of a video is for example it saw our programming or front-end programming then we ask a survey to the student at the start of building his profile are you more into experiencial learning are you more into example based learning what kind of learning are you in if he answers X and we find that that video matches him in the space of the subject that he wants to do we put it in his learning plan that's the first step second as in when he progresses if you sitting is the new smoking did you know that 80% of office workers have been plagued by back pain this leads to mental and physical trauma costing employers $3,000 per employee annually billions of dollars in medical expenses and legal fees and guess what the billions spent on economic technology just isn't working and you know why bad posture now this is me this is very bad I know this but that is how I guess every one of us the city so I've been doing this new smoking past eight years sitting eight hours a day and guess what it has led to a severe severe back drop back pain doctor suggested a one week of complete bed rest but then I had to get back to work and this time I have to make sure I said properly in right posture but do I sit in right posture maybe 15 minutes 20 minutes sit upright but then again slouching back in and that's going to again get get back the vein back problem again so I looked up I looked across the solutions I tried economic chairs wasn't helping it because I sat on a machine again slouching back in tried standing desks I was standing but then again my legs hurt I was back into the economic chair curious enough I contacted my friends and we researched 28 Australians near the government offices and out of 2821 reported back problems and we were curious what were they doing about the solution they were using smartwatches using Fitbit some variables but nothing really helped so we as a team with robotics engineer marketing manager financials and sales expert and software development experts we have come up with the most innovative and the smartest chair Tech this is how it works deploy he arrives to the office and he says set ups and adjust the chair to his preferred position next day he or she are asked to the office again and with a RFID card taps the air co-chair and it comes to its preferred position ergo chair has sensors that measure your back your legs and the motion while while you are seated the information is gathered and sent to our software platform and based on the time of your CT position and our proprietary algorithms it sends you an alert or it finds a well balanced working position move moving itself this is this is our key component air watcher is able to measure your brief patterns it's scientifically proven that breath is correlated to position if you if you have a good position you will improve your health and then you extend the quality of your life so you will live longer I have experience in engineer and robotics we are able to give you a reliable and good quality MVP and then we can scale with this so why a guy chair well the yoga chair provides benefits for both the employer and the employee from an employee's point of view the ogre - the ogre - ensures you're economically seated regardless of which chair in the office who use through maintaining correct posture health problems associated with back pain and mitigated using this technology in addition quality of life is improved for the employee as well as [Music] health expenditure of the employee is reduced the corporations and employers healthier employees lead to less lost time due to sick days and through keeping keeping employees comfortable at their desk increased productivity and therefore revenue for any of you working in a revenue based tug time based Revenue company you understand what I mean the context in Australia back pain results in approximately 20,000 workers compensation claims annually this results in estimated profitability lost 8 billion dollars a year and just think about that that's 20,000 workers compensation claims and 8 billion dollars lost and we can mitigate that we found that finally the Ergo chair actively measures and records an employee's position in the chair and through using this data we can modify or we can we can identify employees identify plays you can identify employees postures suffering and intervene before it becomes a major issue so where are we going to start well when we begin this company on March 1 8 March 1 the first first point of cloth is 1 William Street where Jackson Gerard the director one of the directors at the Department of State Development has told us that a chair like this is something he desperately needs in his life now 1 William Street contains 5000 state government and employees a government committed to advancing Queensland and and cementing Brisbane as a smart city and is smart buildings like 1:1 William Street and smart sees like Brisbane that need smart chairs and this is why we want to start here advancing Queensland starts from the bottom up so I'm sure it costs about thousand dollars the manufacturing cost is going to be about $400 and we're gonna spend about another hundred dollars acquiring customers because it's going to be a b2b so we're looking at a profit at the year three and then our expansion plan is right now we're at the face of design and research we're gonna launch in 2020 and we'll start exploring our markets when we have the money so we need $500,000 to take it from research and development to production thank you [Applause] speaking is someone who spent far too long in front of screens one of the things that I wanted to ask you is have you spoken to the people that see the people with sore backs the Kairos and the osteopath and everybody else and what did they tell you so the thing is we are spoken to people we even been stung about people who sit in the car and then you know bad couches at home you know there's a lot of places where we can go but this is a good place to start because they spend a lot more time doing something really serious and those are other things are fun you can play it can be sitting down in a runt posture at home sorry I just cut you short so did you speak to chiropractors and osteopaths you deal with people with bad oh sorry yeah no we haven't taken advice from a doctor I can tell about my own experience and have problems nice after Australia I will arrive to Peru have a surgery on my back I will spend $10,000 for that because I didn't care of my back during 3 years have I been in pain is working continue but I'm 40 I'm not invisible invincible anymore so I have to pay for that I will pay $2,000 for that used to save this money and feel better speaking as a master slum / but I'm sure we all set up as he presented um does the chair keep adjusting until I don't slump anymore so I can answer that question no it doesn't the idea is that the chair will be ergonomic we set up for you and then you can pick any chair in the office when you come back and it will automatically adjust that position now it notifies you through senses that your posture is bad your slouching and that that sways helps to change your behavior and encourage you to sit properly it's human machine machines working together because it has a smart electronics with the R&D we can program it to a reasonable a reasonable a reasonable frequency of change on time so we have to do some tests with that so I just had a comment to make Lloyd sometimes the hardest thing is to keep going when you get a bit stuck so well done that was that was very courageous well done um I guess my question is you know what does the average office manager spend on a chair now do you know that and is this a big jump from our BMR it's between eight hours to fourteen hours for work holy people I mean could be 16 hours so from the research we obtain it was around $500 we've come to I know some companies spend less but within our target demographic to be around $500 so yeah so does that reduce your total addressable market and have you factored that into your modeling so we modelled in a couple of ways the first thing is the heavy spenders are going to be people moving in in new offices if it's a brand new office they're ready to spend a little more if it's an old office it's gonna take some time for them to come back you are going to die it might not sound like a very nice way to put it but statistically speaking you're guaranteed to die someday I'd like to introduce you to Shalini Shalini is a 37 year old married working mother with two kids she cares about her family and wants to guarantee their future though she doesn't have a will Judah Queensland is state legislature if she would have passed away her spouse Frank would be left with just $150,000 to raise their two children whilst her remaining wealth including her superannuation would be held in a trust until I kids are 18 complications like this can be prevented with a will though frightening Lee fifty percent of Australians died without one so are they difficult to get well not really a quick Google search shows that wills committee obtained from post offices websites and lawyers so why are people doing them we dug a little deeper and found the answer was far more existential than we first thought people don't make wills because it's an acknowledgement of their own mortality it's natural to receive that the way of your own death is uncomfortable or negative and we want to change this we think it's possible to turn the notion of death into a motivational tool to do this we need to change the mindset from mortality to legacy statistics shows there are 12 million Australians without oil which is the half of the population as mentioned four from our analyzes it's put put at the total addressable market 1.5 billion dollars we have also analysed our decision-making we have also analyzed this decision-making units the identifying time Shalini is the target customer she is the economic buyer and user also the champion in the in making decisions for this problem Shalini has several factors to consider she needs to find something ever table saw that she came by median budget but cheap solutions on the market do not give her do not give her trust or engagement however if she wants a huge level of trust and engagement it will provide it by a lawyer is a lot more expensive and inconvenient to arrange as you see there is a there's a gap in the market to provide solution so our solution is an online platform that called legacy dot me and now Shalini can create a will easily and also legacy dot me has some has features that kid cannot accessible for other platforms these are like Shalini can store a veil or important documents on the platform that they she can attach a video message when the circumstances changed in her life she can update a bill easily if she wants she can't lift the capsule to her son and her son can access it to special days and we also provide easy easy referrals to a lawyer's if she felt like she need a legal advice from our research we identified two triggers for our target market first of first of all we found that people created the will when they plan to travel or travel overseas and is exposed to additional risks we also found that the arrival of a new baby and creates a desire to plan his well-being so our customers life cycle starts with to trigger overseas travel and having a baby the absence of a will results results in them researching options and try to understand how to process the setting one up so and we see that they make her did they make their decisions based on affordability and engagement as August has articulated a our solution has a number of features that is not currently available on a single platform today legacy B is not just the service to get a will but one that will start Shalini on her journey of building a legacy for her children the digital storage and time capsule capabilities are designed so that Shalini can store the small or big things in her life that she would like to share with her children in the future in addition to the technical features of the platform Shalini has access to a concierge service if she ever needs any guidance along the way legacy not me is the solution for Shalini to begin building her legacy that she wants to leave as well as ensuring that she has a will should anything bad happens to her going to a lawyer what cautious led $2,000 in contrast our service will have a upfront fee of $99 and then $30 and all fee to capture the value that we create for them drawing from experience from other projects we estimate our gross margin to be 90% and retention rate at about 80% so our customer lifetime value we probably put it at about one hundred and forty five dollars we intend to reach our customers we are two channels online and via partners but from the online channel we will be investing in optimized search engine results and also in our spend on such engine marketing we will also hire business development managers that will create partnerships with professionals that have access to our target market we forecast 36 thousand new customer in our first year and a 20% growth year each year and and our customer acquisition cost will start at $40 in our first year having by over time over the five year period to that our ratio from our cost to value ratio it's about 3.6 as Jackie noted we believe the financials stack up for this business however for us is not only about the financials for us it's about people like Shalini and her family and providing a solution for them as a team we believe that we have the skills care and the drive to make this platform a reality we have a variety of experience in a diverse range of areas including an estate planning expert software finance engineering marketing and product management to help us create this future we're asking for 2 million dollars for early-stage development marketing and sales costs now it's up to you if you want to be part of this legacy where there's a will there's a way really good pitch I enjoyed it and I understand the problem my wife is actually a wills and probate lawyer was so I get the problem you're trying to solve for but that gives me a lot of questions I'm gonna pick on your LTV C LTV is $145 but your sign up price is 99 and your recurring is 30 that means you're only counting on them staying for like 13 months can you explain where you got that from sorry I'm the CFO and in general in the MIT book can we use a project we use a very very high discount rate we use a 50% discount rate because investors require a high rate of return in order to for the high risk of a startup also our projections usually with the 50% it means that really yes we the income really is quite insignificant so we only project over five years therefore our LTV is not that high because we use a very very conservative rate of return okay so is the way you were taught to do it okay all right I have more questions otherwise unless you guys want to go um so my other question so the premier solving for is is sort of like gyms that want to sign up on healthy people it's really hard to activate them right your way of doing it is to add this new service why not just do the new service like just the legacy and drop the Wills from it completely like the digital legacy is actually really valuable that's been proven by a validation why do you need wolves um from our research there are time capsule companies and a few companies trying to do similar sort of things I guess you know for us bringing their two marks together actually creates a bigger business we thinking a longer and longer term so I think it's a great idea and a good job on identifying the the opportunity I guess my question to you is of those I think he said 12 million people in Australia they don't have a will do you have any understanding of what proportion of those would be attracted to a product like this yeah look we don't really have an answer for that one to be honest we couldn't really like um draw that out about research but obviously like we did pitch the idea to a lot of people that we did the primary cost my research within that then they said yeah we'd be interested in it so I'm yeah I can't really give you an accurate figure on that one sorry and if no one else is going to say it love the t-shirts thank you thank you [Applause] you and saying that though so there's three certainties in life it's uncertainty dear and tax like it you hit lucky for us I'm ash and we the team at spine are here to help small to medium-sized businesses straighten out their books with no hooks we are an artificial intelligence software which integrates directly into CCTV and existing cloud accounting software this will promote I'm sorry this promotes and brings autonomy to the system removing errors of manual input some of you from previous pictures might remember John John actually got arrested for tax evasion so we had to go back out and we had to find Greta Greta here is a successful business owner and and she proudly owns establishment which is fire and rock Greta operates outside the law would you believe it or not she does this by using cash payments and in doing that she so she uses cash payments to under pay her employees by this she dodges paying tax she dodges paying superannuation she dodges I in the cherry on the kite the icing on top is that she doesn't pay holiday pay either so somewhere a federal authorities such as the Australian Tax Office or Fair Work were to come and have a conversation with Greta and it sounds something like you're up for a minimum fine of about 60 K and you're up to you're up for a maximum fine of up to him beyond 600 K for $100 a month Greta could put herself in the predicament which you wouldn't have to worry about this I'll now hand over to Nick to dig into this problem a little bit further thanks ash so research by the Australian Government into small business engagement shows that more than 12,000 small to medium sized restaurants do not have adequate systems that are efficient and effective further to that 5500 smaller medium restaurants I'm not confident in their management of tax and super we've gone out and we've talked to managers in the industry and they voice their frustrations about yeah about handling complex payroll systems and processes we then talked to employees working in the restaurant industry and we found that more than 50% of those employees are paid in cash paid yet paid cash in hand making it more difficult for these businesses to be compliant so we can see that there's a real need in this market for innovation in addressing the problem of cash payments for wages now pass over to to take us through the pain points of this thank you so we've all heard it from Nick the real problem relies on complying just being way too hard on the rest on the restaurant business they don't know how to do it there's already more than 12 apps trying to get businesses to get on track with this problem but they're just not doing the job why is that most comments just say that the the process already there are not fully integrated and are not very user friendly or reliable on the information so basically it comes down to it comes down to three words two three needs reliability integration and a work alone system that will go the all the way until the payment process when we talk about market we take into account a twenty nine percent of restaurants that are not complying as of today but when talking to people and it's understanding our customer we did realize that the restaurant the restaurant owner wasn't taking the decision on her herself she has this guy he's very trustworthy he's his he's her accountant and she basically relies on him hi my name is Mark I'm the chattel accountant for the business and I'll just explain to you why Greta was on to comply with the employment regulations as you can see from the chart this is the flow chart of a parent of a typical payroll process is highly complicated and requires hours of manual input it also requires specialist knowledge about the National Employment Standards as well as the restaurant modern award within the restaurant modern award there are over 100 minimum wages raised there's depending on each level of the employee as well as the time when he worked as well as the day that he worked so you got to apply them individually as per your application so we we believe that the solution to this issue for a typical business owner who has to go through all this information and make it its own it's extremely difficult so the answer is payroll automation it takes away the complexity of the issue and saves time and costs for the business owner and how we're going to achieve this from the asset state the payroll process model we're gonna transform it into a fully automated payroll system by utilizing the underutilized asset which is a CCTV system within the restaurant you'll find that most restaurants already has a CCTV system it collects timesheet information it processes and pays employees automatically I'll pass on to Justin will now talk about the business thank you thank you mark our market research and calculations indicate that the customer lifetime value is about thousand fifty dollars the cost of customer acquisition over a five year period is starts from five hundred dollars in the first year but improves on 250 dollars in the fifth year this is due to this is this can be analyzed by analyzing the sales and marketing costs and our improving customer base so what happens to grete business owners like Brera have a limited time to comply with federal laws of their first offense there is a need for these businesses to comply there is a need for quick simple and integrated solution to ease their payroll system there is a need for spine so join us the team at spine in helping business owners like Greta keep their books in check let's uplift the workers who are exposed to the cash economy get fair wages and trick equal treatment so I'm wondering as a restaurant owner there's so many them the run comply how much of a pain is there really forth I mean there's lots of the that I'm doing and had you looked at other ways to incent and to do that like bundling it say with an employee scheduling thing which might takes away a much more immediate paid for them I can actually answer that for you I make sure a chattel accountant in real life as well and I work with a lot of small and medium businesses and thanks to favor for making the restaurant so difficult a lot of restaurant owners actually my clients and quite a common theme a core across this restaurant business owners is that they know how to cook I have absolutely no accounting background they want to improve the process they've recently migrated to Australia with an Asian baby background but trying to understand the regulations or the complexity of the process around it it's really difficult for them I've tried various methods through training providing them with similar other payroll solution out in the market at the moment but they just find the learning too difficult the regulations a bit too onerous as well so having had multiple discussions I think the possible solution I think belief is fully automation software to add to what Mark said like we are currently exploring the future possible avenues but this is a window of opportunity that we have found because the ATO has actually begin like in the past three years they've employed hundred people to actually make the crackdown and this is a window of opportunity that takes us to the meat market and we'll take it from there so those products you looked at as competitive's aren't doing the automation process yeah thank you for your question no they're not and the beauty of our system is that it integrates into the existing products and then if they're not satisfied then another one of opportunity for us is to also develop a software which integrates with our software and then we can kind of flush through the whole system and just use all spine so it was part of your market plan to work with them or to try and go directly to the customers no partnerships just simply plug and play and then you know that Meister and it'll give us an early jump and it may stir them to catch up to us but by then we can already be looking at integrating into what they're doing and hopefully sweep them through that sort of past five years and just to add to that as well we've looked at current providers that automate that says you will make your payroll convenient and simple but I've recommended it to my clients they but they're still a learning exercise for them they still require to set it up as per the restaurant or they are still required to spend hours of manual input into those systems don't others [Applause] you a very fine afternoon actually a very fine morning to all of you we at body are actually making some improvements in taking the first step which you all will understand what I mean by that but before that I would like to use this wonderful opportunity to tell you a small story about a very close friend of mine Nitti Nitti like most of us from India like wanted to actually pursue grad school with a lot of passion and she did really well in her academics back in India and she got into a very good school in Australia but then the happy needy that you see in this picture her happiness was extremely short-lived to her dismay the whole concept of cultural differences the language barriers and other things that an international student undergoes like when he or she is studying abroad that caused a lot of anxiety and led to a lot of mental instability in her head she felt extremely lonely she started feeling a sense of depression when she went when I was on the call with her during April or May if I can remember correctly she was telling me that she's not really comfortable in opening up to people or opening up to counseling centers on campus this is where body comes in but then it's not just needy Australia alone has about six hundred and forty thousand people students coming in every year out of which three hundred and twenty three thousand people have mental illness this is a serious concern and out of this number around 20 percent according to our market research actually prevent themselves from going to counselling centres this is the problem we are trying to solve buddies a personalised while being an assistant that helps international students who are suffering from anxiety and depression take that first step now it's important to be clear that body is not meant to be a replacement for health professionals or student advisors within the university instead what body is is a subscription service that universities can use to help create safe spaces for their international students to learn while being techniques and routines develop a sense of and also be guided to the right experts and information in the space free of judgement and free of cultural stigmas so here are two of our key additional features we have multilingual support which help our client universities make the students feel right at home and be able to convey those final emotions in their own language next we have our combat connected program this connector program pairs senior international students with income international students and also at risk international students a study a recent study has shown that such a program has the capacity to increase international students experience in terms of the sense of belonging and also interactions with community by up to 20% our premium in addition to us a national inquiry into student international student experiences in Australia has also told us that one third of students when they come to University in Australia they're confronted with this a third of them would love to access these services and if they were made aware they would but they only learnt about these services when they were interviewed our primary market research also indicates that even when they do try to approach for help they're often bounced back and forth between different departments in services this is a headache for the university as well and the costly one sometimes they have to onboard additional staff during peak season that costs around 60 K per year for one staff member and it's not optimized it's not streamlined and this is costing the university time money and it's also potentially costing lives we have looked in the statistics of international student services across 38 universities in Australia and we found that they collectively spend almost 37 million dollars every year on student services we body think that we can create a value of 55% considering not just international students but also domestic students and our total market our total market is 20 20 million dollars once we start expanding to other countries we will be projecting it to the 2.4 billion dollars which is a huge market unfortunately recently in University of Melbourne the two international students who attempted suicide this could be because they have lot of depression laurynas and do not have anyone to talk to and we we see this as a window of opportunity to actually help the students because we care as much as University Square so talking or about our competitors there are quite a few apps that help people to in need when they are in distress or when they are in depression and there are apps like talking space we sell people to connect with cycle of this using the internet they can video conference with them and we have some like we bought that's a enable chat bot that will help people in need and this is the thing we are developing body the difference is that they do not cater for the needs of university students they do not have connect with the services of university student to give the exact information they need and actually using talking space people do not want to directly go to use the talks just because people find it quite uneasy 12 from Nepal and places like India and some other places due to our culture we don't do not try to open up about our problems so actually body comes in it has the AAI house to ease the problem and then they can connect them to the mentors that actually care about them not to any stranger and they speak the same language and they can help people in need so to implement our solution body will be so two universities as a nearly subscription at 18 dollars per student the total costs for a university each year would be around $300,000 and this saves a university about $600,000 in their spending for counseling and student services so as we start out we aim to acquire 3 universe cities each year and we would be investing in sales of expertise as well and we've seen that the lifetime value of the customer is about three times the value of customer acquisition costs so we get buddy are a multidisciplinary team with a collective experience in design software engineering and entrepreneurial entrepreneurial experience we're passionate about student well-being and we want to help students help themselves take the first step thank you quick numbers questioned if I her quickly see that you want to charge around about 300k for an average uni and they who they spend about six hundred okay it's a big ask to get fifty percent of the other budget how are you gonna do that so we did some research about how much universities already spend on student services and well-being services and it was an average amount about of about 1.3 million dollars per University across Australia so we also calculated how much universities could save when you know students pull out of courses you know due to unpaid course fees or additional expenses in that way so we valued our subscription services at about 300,000 per year in order to make that saving the university to add to that usually I would say for the content services they actually spend from $50 to 150 dollars per each counseling session we have considered the least m1 and the number of students and we came up to the you know the target market so do you see your product as a complement to the current services not a replacement for the current services that are offering the product is not a it doesn't replace the counseling services you're just trying to assist the students to actually find a way to get the counseling most of the people our students do not know if there is counseling services and do not know how to get over there so it is I enabled zap what that will is the student to make them feel like they are connected and they will find a mentor from the University who are rated by University itself and we can actually communicate them in their own language and empathize with them just to add to the point that is being mentioned I'm an international student myself and you know I underwent a lot of turmoil in the first few weeks of my school and you know the fact that we are culturally different the upbringing is extremely different it takes a while for us to talk to people and like new Thais mentioned you know we are from countries where opening ups are really really a big thing so you know so I used to kind of play around with the Google assistant on my own phone just to kind of ask its to say some jokes and things like that to just lighten up the moment so I think this you know is something that comes personally from me and you know all of the international students are facing position you one of the most are Cendant events of my life was when I discovered makeup I was 12 years old when I started poverty I was coming through a lot of changes in my body there were not only emotional ones but also physical ones and all my hormones were making me break out I was the only one in all my classroom that had acne this was very painful for me this was affected my security this was making me feel embarrassed and left out I decided to try makeup in order to cover this up and be part of everyone again and I went to to buy like my first set of makeup and it was very hard for me to choose because there are like so many options among the foundations and the eyeshadows and the considers and it's just a lot and I thought that this was going to be solved afterwards but it was not this was just the starting of a nightmare because I didn't know how to use it I didn't have the skills and I was not aware of how hard was to achieve one design look she's not left alone we have more than 1.2 million valera like users in Australian market and this pins more than 100 hundred dollars on a near average in other platforms like us and the beauty is the market is so matured that this hundred dollars they spend and the 1.2 million uses that works around 120 million opportunity for all of us and for us to get Valley idea like users to become our customer we spent $90 to get validated customers and the lifetime value of malaria like customer is close to six $75 which is a huge opportunity for us to tap in this Australian market as the first market and one very interesting thing in Australia is the beauty is Australian government allows valedale accusers to work after 14 years already like users who is 14 years and above they can work can gain the money that gives an another opportunity that they are earning close to $4,000 on an average and they spend $1000 only on beauty related services so it is an exciting market for us so here we are going to explain about the solutions which we are going to offer we want to use technology to make up to make options around makeup available to users like malaria there are two crucial elements to our technology solution we are going to use AI based personal and the personalization engine to make personalized makeup styles available to alaria so she doesn't have to go and try to adopt the styles of someone like Kim Kardashian on Instagram she can select to choose makeup styles that enhance her hone our face structure and her own beauty the second element to our technology solution is an augmented reality component to the app what this augmented reality will do is give you an option to visualize your own face with the makeup style on it from three-dimensional space without the need to actually put it on you so the technology solution allows you to offer different kinds of services - while we keep the core IP aside the technology solution allows you to have a 5 minute routine which is a hook for us what the 5 minute routine means is that it will prompt you with makeup styles that allow you to try it on within 5 minutes not more not less it also has an option to select what are the ingredients that you have at home in your makeup kit and select the styles that can be achieved using those ingredients we like to call that recipe right so as you can see you choose one of our big competitors they really offer quite a lot of variety in the space but unfortunately people struggle to sift through the range of content and they often can't find that something that's really personal to their style the tutorials are often like we said step by step imitations rather than addressing the the personal design needs of the individual there's a very small selection on online platforms like udemy let's big ly focus on really broad topics and they really lack that personalization additionally they don't really offer any community engagement and members that help encourage and motivate others our initial target markets as you can see is young Australian women in high school with a disposable income of about four thousand dollars per annum we plan on utilizing targeted online marketing strategies on Instagram and leverage new partnerships with influencer influencers on that platform extending our initial market to additional locations is a start of our growth expansion word-of-mouth and social media interactions avec is obviously going to play quite a big role in our peer adoption we have future plans for additional revenue income streams such as much the monthly subscription for personalized cosmetics sent to you every month and we're also looking into b2b white labeling solutions for bigger cosmetics we have two additional features like we mentioned earlier to up the regular use of our app like the three minute zero to ready in five minutes tutorial and the mobile augmented reality service for our pro plan we have expertise in the technology differentiation space and we could let nav need speak at length to this which we can organize if we are very interested in the actual technology aspects but what I'll do is I'll skip through to the next slide what we want from you today is five hundred thousand hundred thousand to invest in a a I personalization engine and the augmented reality applications we look at that as the core business proposition from our offering from our project and we want to invest in it as quickly as possible so we can use freely available content to train the models and start putting out a beta release in the next six months [Music] thank you well as a mother of two of your target market I can tell you they've got a lot more than four thousand dollars invested because they just come to their parents um but it is very much about that influence on our code isn't it so how are you going to convince the influencers to come with you because they all have their own platforms generally through these processes so our initial initial strategies to go straight to Instagram it's quite a lot of young individuals that hang around me and a lot of influencers the main idea behind this is to get them on the platform as an additional Avenue for themselves to get more exposure their brick really regularly keen to to actually you know widen their influence so that's kind of the value proposition we can give to them in fact we're thinking about partnering with them and we're thinking about four or five different persona well different partners that will be like the influencers each one of them have a different style so us and user can relate to one of those styles you know that you want let's say natural look you always go for that one so you can select and let's say Mary does she always is giving different options so you have like one look for school or one look for weddings or graduation parties like it you know all depends on each one of them really well done and certainly an interesting proposal there's a tendency to over use technology terms and so I'm wondering about this ai personalization engine can you tell me exactly what the artificial intelligence is doing in your proposal seems our appendices disappeared so maybe navneet can just just yeah doing a first-person of the release beta release what we have plan is we have already the we have an in content video recognition and image recognition expertise already in the technology you could use it because there are a lot of YouTube followers who is following some more other stay least as a followers so we can get those in content video recognition as a start and image recognition start they can leave the users can upload the image which they say the celebrity images in our platform to check to look-alike that field we can give and and also we can able to say segregate the interest and we can able to take the index of the YouTube we can just process it on the indexing and we get the get that connected to the right users this is one thing which we can start and do and going forward we need to like this is what you propose we when the user comes in you can able to recognize the user by seeing the facial face and we are going to map this face with the skin we can do that with image classification and things like that we can use canvas maybe just give it just to give you a context our love meet actually has a company right now [Applause]
