This week I was thinking about how I could develop and spread my project. I’m very interested in business skeletons, I think it’s a good skill to create a product and interesting business models for users.

I thought about it and started my research with the target audience and their problems. I chose people who want to follow their health and lead a healthy lifestyle as the basis of my product audience.

I started looking for research on drug therapy and found some very interesting documents.

As can be seen from these studies, the timeliness of taking the pills is very important for patients, especially the elderly.

I’ve identified a few potential buyer groups for my product: - patients - doctors - pharmaceutical companies - insurance companies - public health services

I also studied market research and realized that the IoT Healthcare market is very large, and experts expect it to grow to 270 billion by 2023. As of 2017, it was 56 billion.

I created slide for future presentation

I also searched for information about startups developing similar devices in the United States. The cost of one device can be about $40, based on the pricing of competitors: Pillsy, Dosesmart, AdhereTech, RoundRefill, Pilleve.

I think the easiest way to enter the market is to partner with pharmaceutical companies: similar devices can make the clinical trials easier. Next, you can enter the B2C and Healthcare services market.

As part of FabAcademy, I want to test the main hypothesis and try to make a prototype of the device and understand how to make it more convenient.

Next, we could develop the UX product for a long time, assemble a team of professionals and try to bring it to the US market.

If we can do that, I think we need to patent the device. I have a few ideas for the know-how on how this device can be different from the competition.

The procedure for obtaining a patent has yet to be studied in detail, and I plan to do so when the product moves from the prototype stage to the commercial one.

Draft poster for my final project