New Business Concepts Finalists S-Z
Tears for Life
Seva Call is a new local search engine that goes beyond just providing phone numbers or reviews of local companies. It is a search engine where consumers can submit details about the service (such as dentist, plumber, accountant, etc.) they are looking for and then directly get connected to companies who can help them. Seva Call uses our own technology to immediately inform local companies, one by one of a potential consumer in the area. Seva Call provides key information to each company including what the consumer wants done, when they would like service, and where they are located. It does this while still maintaining the privacy of the consumer. The company can then choose to talk to the consumer and Seva Call will directly bridge the call. If the company chooses not to talk to the consumer, Seva Call will continue to forward the consumers request to other local companies until the consumer has been connected to a suitable company. Companies only pay if they actually talk to a consumer. The Seva Call system is designed for companies to pick their ideal service job, whether it's high-valued, big, small, easy or difficult. Our customers include both the consumers that use Seva Call to find local companies to fulfill their various needs as well as the companies that pay for the high quality service requests from consumers in their local areas.
The universe of advertising vehicles is enormous and growing daily with virtually no barriers to entry. As more traditional means of advertising such as newspapers and yellow page books continue to lose attraction and larger mediums such as television and radio are unable to economically target local markets, the need for a locally focused search engine continues to grow.
There are numerous advertising sites that offer pieces of the Seva Call model, but none that successfully mimic Seva Call's model completely. Major search engines such as, Google, Yahoo, MSN and others excel at nationwide and worldwide advertising. However, their pricing structures, inability to directly connect companies to consumers immediately, and inability to focus locally make them a less than optimal choice for many smaller businesses and advertisers. No one likes to pay based on a click, who evens know why someone clicked to come to your site. Also locally focused advertisers require cumbersome contracts with no guarantees of business or even contact from consumers.
Seva Call's marketing strategy is multi-faceted. Seva Call will attract consumers through paid placement advertisements with larger search engines. To enlist service providers with Seva Call we emphasize our ability to bring quality customers, the lack of any service commitment, and the ability to track and justify advertising costs (through our proprietary control panel) through mailings, phone calls, and on-site presentations. We have an outstanding showing of support for the Seva Call model from local service providers and potential consumers. We have also begun to enroll service providers in the system that will begin paying once their respective service categories are activated in Seva Call.
Amandeep Bakshi is one the co-founders of Seva Call and serves as the lead web developer for the company. He has been a software developer with the US Department of Defense for the last four years. Amandeep has also worked for Geeks On-Site, a residential and small business computer consulting firm located in Potomac, Maryland. While his time there, he helped in training and managing the technical personnel team. Amandeep is a volunteer for the Department of Defense's Math Education Partnership Program. This program promotes mathematics to both elementary and middle school children all across Maryland. Mr. Bakshi is an active member of the Washington DC based Sikhcess Organization, a community service organization, and the Sikh Caucus. He is currently in a part-time program pursuing a M.S. degree in Computer Science with a concentration in Telecommunications and Networking from Johns Hopkins University and is expected to complete it by fall of 2010. He holds a B.S. in Electrical Engineering from the University of Maryland at College Park. His interests include sports and traveling.
Manpreet Singh joined Profit Investment Management (PIM) in September of 2000 and has held various positions since joining the firm. He is currently a Senior Equity Analyst and is responsible for equity research and assisting the portfolio manager. PIM, a Washington DC based investment management firm has $1.5 billion in assets under management. He covers the technology, healthcare and telecom sectors for the firm. Manpreet is PIM's longest serving employee having risen to his position via stints in trading, marketing, research and operations. Manpreet has been quoted or the subject of profiles in the media including, but not limited to the Wall Street Journal, Financial Times, Bloomberg, Indus Business Journal, Gazette, Potomac Almanac, India Today, Indian Panorama, Wharton Journal, Fortune Magazine, CFA Magazine, Tampa Bay Tribune, TheStreet.com, Smart Money and Dow Jones/MarketWatch. He began his career founding a technology start-up company with his brother. Manpreet graduated in the Honors Program Cum Laude with a B.S. in Finance and citation in Entrepreneurship from the University of Maryland at College Park. Manpreet has an MBA from the Wharton School of Business with a triple major in Finance, Entrepreneurial Management and Real Estate. While at Wharton, Manpreet served as a Fund Fellow managing a part of the school's endowment and had an internship at Stark Investments, focusing on investing in the Long/Short equity book. Mr. Singh holds the CFA charter and at the time of receiving his charter he was considered one of the youngest CFA charterholders in the world. He was named the "Most Ambitious" CFA charterholder by the CFA institute in 2006. He is a member of the CFA Institute and the Washington Society of Investment Analysts. In addition, he is a Director of the LaKan Foundation and founding member of Seva Call. His interests include travel, movies and sports.
StudentsGlobe is an online one-stop source of immediately necessary services for thousands of international students coming to the U.S. every year. StudentsGlobe will generate revenue by providing: discounted air ticketing, bank accounts, international cell phones, travel and health insurance and ground transportation.
Revenue model: StudentsGlobe revenue will be generated by commissions earned on the reselling of six services from selected vendors as well as a one-time subscription fee of $20 covering the student's entire university tenure. Recurring revenue will be produced as students continue to use StudentsGlobe for travel home between terms and when additional StudentsGlobe services are added.
StudentsGlobe projections are based on primary market research among foreign students indicating likely or definite purchase intent of services from ranging from 66% to 86%.
Target Markets and Phased Global Roll-Out: In its first phase, StudentsGlobe will market in India to 94,000 annual enrolled students. StudentsGlobe begin operations in Mumbai, Gujarat, Delhi and Bangalore; where its principals have firsthand knowledge. StudentsGlobe will expand through strategic alliances and partnerships to China, South Korea and Japan with 81,000, 69,000 and 34,000 annual students respectively and tap into huge international students market of US of $15 billion. These four countries represent 45% of 623,805 the total international student population.
Financials and Investment: We are seeking an initial $300,000 to develop infrastructure, acquire strategic partners in India and the US and market for the first two years. The initial investment will be taken in 3 parts of $150,000, $75,000 and $75,000 each after achieving agreed upon benchmarks. 60% of the first installment will be used for advertising, commissions to consultants, salaries to sales team and PR. Management will defer salaries for the first 12 months of operations.
Management: The StudentsGlobe management team has the experience to successfully launch and implement this business. CEO, Rohit Phadtare, has started and managed companies with revenues of $600,000. Dhaval Desai, the CMO, has extensive experience in sales and marketing. Ravikiran Vadlamudi, the CIO, is a senior corporate developer, a Red Hat Certified Engineer and LAMP – Programmer. Rohit Jain – COO, a successful serial entrepreneur, has profitable family businesses ranging from a battery dealership to gold trading and construction. Judith E. Katz – Business Consultant, was a senior executive in financial services at American Express, Provident Life & Accident and Barnes & Noble. Peter Johnson – Business Consultant, is Managing Director of Marketmaker Capital.
Dhaval Desai is currently pursuing MBA in Financial Management at Pace University, NY. Dhaval holds MS in Marketing Management and Bachelor's in Accounting & Auditing form M.S. University of Baroda, India. To provide business world exposure to management students he founded MSA - "Management Students Association" at M.S. University and participated in "All India Entrepreneurship Summit" at IIT Powai Mumbai. Presently he is working as Research Assistant and Business Lab coordinator at Pace University. In India he worked as a sales executive at ICICI Bank; in that position he managed personal finance & sales accounts and worked next to management team to set up new core banking system. He is supporter of different environmental programs and voluntarily worked for "Green Society" and "WWF" in India. Dhaval is accountable for marketing operation of StudentsGlobe LLC,in Asia.
Rohit Phadtare completed his BS in civil Engineering in 2007 from Mumbai University, India. He then came immediately to the US for his MBA. As preparation for his MBA he started a firm in 2005 to gain business experience. The firm specialized in trading rubber molded articles. Rohit used to manage the business in his spare time. Rohit had 3 clients and successfully operated the business for two years. While at Pace his assessment of the market conditions and growth led him to a dual major in Finance and Management. Rohit will be graduating in May 2010 and has a QPA of 3.98. Working as a graduate assistant in the Finance and Management departments gave him an excellent opportunity to enhance his academic knowledge and broaden his outlook. Rohit used to work as an intern with a portfolio management firm and an investment firm. Rohit is responsible for the overall strategy of StudentsGlobe LLC.
Tears for Life
Approximately 40,000 of the 240,000 women diagnosed with breast cancer each year in the U.S. are expected to die from the tragic disease. The annual cost of treatment in the U.S. is $30 -$40 billion, but research has shown that survival rates are much higher and treatment costs are much lower when breast cancer is diagnosed and treated at an early stage. However, the painful truth is that only about half of women are screened for breast cancer at the recommended intervals, making it vital that innovative screening tools are developed that will increase screening rates.
Tears for Life is a medical diagnostic equipment company that is developing a tear test kit that will screen women for breast cancer using proteins found in tears. The kit is a non-invasive, convenient, and objective screening tool that allows for early detection and treatment of breast cancer, saving lives and significantly reducing health care costs. Health care providers will use the kit to obtain a tear sample from a woman during an office visit, and will receive results immediately, with no need to draw blood or send the test to a lab. The University of Arkansas for Medical Sciences (UAMS) has a patent pending on the method of using tears to detect cancer as well as on the protein patterns discovered. We have an exclusive license from UAMS granting use of the technology.
Tears for Life will guide the kit through various value-creating milestones all the way through FDA clearance. The kit will initially be marketed in the U.S. for use in a doctor's office. We will then introduce a home-based kit, expand internationally, and target R&D towards using tears to detect other types of cancers, such as ovarian, where it has already shown promising results. The total annual market size for the kit is $15 billion in the U.S. and $30 billion worldwide. Additionally, it will help reduce breast cancer costs by up to $18 billion per year, or about 45%, in the U.S. alone. Acquisition is our preferred exit strategy. Tears for Life will entertain offers to sell the technology or enter into a licensing agreement with larger market participants. This provides investors many opportunities to exit.
Jared Greer is a recent MBA graduate from the University of Arkansas and also holds a Bachelor of Science in Industrial Engineering (Magna Cum Laude) from the University of Arkansas. Jared has six years of experience in health care as a Professional Healthcare Representative with Pfizer. He manages all aspects of a $3.5 million per year territory, including developing relationships with key medical professionals such as physicians, pharmacists, and nurses. Jared also has five years of experience managing a small business as the President of Greer Property Solutions (GPS). As President, Jared manages a portfolio of over $1 million of residential rental properties and GPS has been profitable every year since incorporation. Jared is actively involved with all GPS activities including construction, leasing, sales, marketing, and accounting. In 2008, Jared co-founded Tears for Life, a medical diagnostic equipment company that is developing a tear test kit that will screen women for breast cancer using proteins found in tears. In addition to his duties as CEO of Tears for Life, Jared also volunteers for the Susan G Komen Foundation, hoping to help eradicate breast cancer forever.
Bessie Williams is a recent MBA graduate from the University of Arkansas and also holds a Bachelor of Science in Business Administration from the University of Arkansas with a concentration in Finance. Bessie has four years of experience in Procurement with Alcoa. As a Senior Buyer, she manages the entire supply chain of a $150 million annual spend. Bessie's responsibilities include crafting and implementing strategic sourcing strategies for twenty one business units across North America. Bessie develops plans with key stakeholders, negotiates with the supply base, and executes contractual agreements. In 2008, Bessie co-founded Tears for Life, a medical diagnostic equipment company that is developing a tear test kit that will screen women for breast cancer using proteins found in tears. Bessie has acted as the Chief Financial Officer of Tears for Life since 2008. In addition to her duties as CFO of Tears for Life, Bessie enjoys volunteering for the Susan G Komen Foundation with the hope of eradicating breast cancer forever.