High tech prosthetic limbs for amputees, but can they take it to market?
|1. Fundraising Target?||$5000000|
|2. Fundraised So Far?||$1880452|
|3. Pre-Money Valuation?||$40000000|
|4. Previous Year's Annual Revenue||$0|
|5. Previous Year's Annual Net Income (+ Profitable, - Burning Cash)||~$-176814|
The 6 Calacanis Characteristics ("Sow Passion, Not easy mediocrity", or S2 P6 N18)
|1. A startup that is based in SV?||True: San Francisco, CA|
|2. Has at least 2 founders?||True: Two|
|3. Has product in the market?||False: Funding R&D|
|4. 6 months of continuous user growth or 6 months of revenue?||False: No revenue|
|5. Notable investors?||True: No one I recognize|
|6. Post-funding, will have 18 months of runway?||True: Just needs $350k|
|1. Engineering?||4||If they can pull it off, this would definitely be an engineering improvement|
|2. Timing?||1||Not sure why this is the right timing to build this company|
|3. Monopoly?||1||No market share|
|4. People?||4||People seem good, especially the technical talent|
|5. Distribution?||1||No easy access to customers|
|6. Durability?||5||Incredible technology if they can pull it off|
|7. Secret?||2||Now is the right time to commercialize a brain controlled prosthetic and take it to market|
What has to go right for the startup to return money on investment:
1. Technology has to go to market; 2. Technology has to be applicable to other prosthetics soon; 3. Product has to have low service costs so it doesn't require constant repairs
What the Risks Are
1. Hardware product not in market; 2. Market is not growing at any notable clip; 3. True engineering product and can't see where the business is yet
Bonus Muhan's Notes
Very cool technology
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Review these deal memos every time the startup raises a new round
Test if original thesis still applies
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