Team:NTHU Formosa/Industry
Industry
On July 16th, we visited Singular Wings Medical, a very successful award-winning biotech wearables startup, to learn about biotech industry and how our project--BioWatcher is perceived in industrial and commercial point of view.
BioWatcher is a very novel and tentative idea, though; we believe BioWatcher has potential in the diagnosis industry. Entrepreneurship is the ultimate goal where biologists bring biotech into the real world and make the world a better place. Therefore, we presented BioWatcher to Singular Wings Medical, a very successful award-winning biotech wearables startup.
While Singular Wings Medical was very impressed with our innovative idea, several interesting and important concerns and useful advices were proposed during the discussion.
1. Why watch?
It’s true that watch is not the only available option for bioluminescence detecting devices.As Singular Wings Medical suggested,manufacturing a portable handy bioluminescence detector for our project is a way easier approach than trying to alter current smartwatches or come up with new brand of watch to compete with the existing smartwatches on the market.
We totally agree that, at the developing stage of a company, launching a portable device instead of smartwatch will become great help to the company’s finance. However, the idea of BioWatcher was partly inspired by smartwatches and we are still aiming at this incredibly huge wearable markets. According to International Data Corporation (IDC), PMR and Gartner, in 2017 alone, there are 121.7 million shipments in wearable market, in which smartwatches took up half of the shipments. The predicted 2017-2021 CAGR of smartwatches and wristband combined is up to 24.9%, while their predicted 2021 market share is 89.7%, the highest among all wearables. "Smartwatches are on pace to achieve the greatest revenue potential among all wearables through 2021, reaching $17.4 billion," said Angela McIntyre, research director at Gartner.
All in all, we are targeting a vast market and, hopefully, we can bring BioWatcher to the real life.
Being a successful startup owner, the manager of Singular Wing Medical, Mr. Lee, generously share his experience in starting a company. Transforming lab experiments into real product need to take up dozens of years. Even after we overcome all the biotechnology and ethic issues, hardware development will spend us quite awhile.
Therefore, he encouraged us to make plans gradually-- before our whole non-invasive real-time report blood test system become mature, we can take a step back by developing an improved and optimized blood test system and devices in the current diagnostic industry, such as micro-measurements or electrochemistry approach, to support the startup when developing our ultimate goal—BioWatcher.
We greatly appreciated this chance to learn a lot about the experience from a successful senior and we hope to have more discussion and mentor in terms of entrepreneurship.
Presentation skill is one of the most crucial parts of promoting ideas and attracting corporate sponsors. Before the meeting ended, the importance of delivering a good presentation is emphasized many times. Singular Wings Medical pinpointed the weak point of our presentation and devoted a great deal of time carefully teaching us how to make a brief persuasive pitch that catches the listeners’ attention. Lessons learned: logic, coherence, precision and painting a good story for our audience are vital. After this meeting, we revised our presentation for so many times and hopefully can bring our best show to the stage.
About Singular Wings Medical
Singular Wings Medical is a very successful startup known for its award-winning biotech wearable products –CardiNova, a series of smart cardiovascular symptoms detector/ pocketsize ECG recorder for cardiovascular-related diseases prevention and prognostic follow-up by non-invasively detecting early signs of abnormality. All data can be tracked whenever and wherever the users want to. Due to the similarity between Cardinova and Biowatcher, our team contacted the company and set up a meeting, which is proved to be very valuable and helpful. We cannot thank Singular Wings Medical enough.