Technologists designed new N95 mask that they are hoping to sell to hospitals.
|1. Fundraising Target?||$1070000|
|2. Fundraised So Far?||$73816|
|3. Pre-Money Valuation?||$6500000|
|4. Previous Year's Annual Revenue||$0|
|5. Previous Year's Annual Net Income (+ Profitable, - Burning Cash)||~$0|
The 6 Calacanis Characteristics ("Sow Passion, Not easy mediocrity", or S2 P6 N18)
|1. A startup that is based in SV?||False: Katonah, NY|
|2. Has at least 2 founders?||False: Two|
|3. Has product in the market?||False: Raising money to Fulfilling initial shipments and launching hospital pilots in Q1 2021|
|4. 6 months of continuous user growth or 6 months of revenue?||False: No product in market|
|5. Notable investors?||False: Bootstrapped|
|6. Post-funding, will have 18 months of runway?||True: But no operations e.g. no burn|
|1. Engineering?||2||Marginally better but not 10x better|
|2. Timing?||2||Definitely more demand now, but I'd argue with vaccines coming this won't be as priority for long term|
|3. Monopoly?||1||No product in market|
|4. People?||3||Good team but no one with medical PPE development and sales before|
|5. Distribution?||1||Selling to B2B and no delivery history yet|
|6. Durability?||1||Not sure how defensible this is once built, nothing proprietary here that is also insubstitutable|
|7. Secret?||2||Making a new N95 mask will solve hospital problems|
What has to go right for the startup to return money on investment:
1. Ship product; 2. Nurture relationships with hospitals; 3. Get recurring revenue
What the Risks Are
1. Engineering marginally better; 2. Not a venture sized opportunity; 3. Margins are not favorable
Bonus Muhan's Notes
Very cool, shows how long it can take to take something from concept to production.
This is where I’ll
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