concept presentation v1
TRANSCRIPT
Lake Effect Ventures
Lake Effect Ventures 2
Definition of Indico
Indico aims to attract small to mid size law practices to adopt our data extraction application to supplement their eDiscovery practices. We plan to expand our service offerings to other features and industries where applicable.
Indico in Latin-English means to make publicly known. The Indico app will bring a new level of efficiency and accuracy to legal eDiscovery. Indico’s data extraction software is easy to use and effective across multiple media sources. In short, Indico = eData Extraction
Business Objective
Overview
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The EDD market is estimated at $4B and expected to grow at annual rates of 30% and more going forward
$4 BillionEDD Market Spend
Legal Industry
$280 BillionLegal Industry
Market Size
EDD (Electronic Data Discovery) Spend
The U.S. legal services industry is estimated at $280B. U.S makes up roughly 47% of global legal services market
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Market Trends
EDD Market growth drivers• Overall growth of legal market • Increased adoption of and acceptance of EDD• Increased government regulation• Growth and proliferation of electronic information
The market for both the legal industry and EDD services has continued to increase over the last decade and are projected to continue to grow in the future.
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Business Concept
For the busy attorney, Indico is a unique legal application that simply and efficiently extracts data from mobile
devices and other media and organizes it into a presentable format for eDiscovery or the courtroom.
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Indico Timeline
List
Extraction of client data from
designated media (i.e.
mobile phone)
Indico DB intakes data. It then organizes and categorizes the
data.
The user is able to easily select information they want to
display and output
Indico DB creates both a list view and a timeline
view of the information
Business ConceptBelow is a simplified flow of the Indico tool
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User Acquisition
We plan to be strategic in our efforts to attract law practices. Piloting the app within several law practices will help refine the product and build credibillity. A full marketing campaign can then follow.
We plan to offer our product to investigative services as well. They may end up being the
heaviest users of the product. Therefore licensing options may be explored.
Pilot•Free trial period
•Feedback on needs
•Beta clients
Direct•Smaller practices
•Family practice
•Word of mouth
Assoc.•Communicate app
benefits to wide audience
•Stamp of approval
eCom•Website
•Blogs
•Publications
Law Practices
Social• Facebook
• Google+
Direct
• Word of mouth
• Through law practices
eCom• Website
• Blogs
• Publications
Investigative Services
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The initial strategy would be to pilot our beta product with potential customers.
We will take feedback from the pilot and make necessary adjustments to the product.
After that we will run a promotional period for new users to gain sales traction. We will look to turn these clients who accept the promotional offers into paying clients
We plan to be strategic in our marketing efforts. Focusing on more direct channels to advertise produce benefits
Our landing page and website will also be used to advertise the product benefits, communicate new feature development, blog, and provide contact information, and provide interested customers sign up opportunity. We will be active within the social media marketing space as well
User Acquisition
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Competitors
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Financials
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FinancialsGrowth Year 1 Year 2 Year 3 Year 4 Year 5
Volume
Avg. number of website sign ups 100% 10,000 20,000 40,000 80,000 160,000
Total number of cities 1 4 10 20 40
Total # of Law firm customers 200 800 2000 4000 8000
Price
App Service Fee (per usage) 15% 75$ 86$ 99$ 114$ 131$
Annual app service subscription fee 15% 12,000$ 13,800$ 15,870$ 18,251$ 20,988$
Revenue
Per Usage based 13,500$ 58,650$ 158,700$ 365,010$ 839,523$
Subsription based 240,000$ 1,656,000$ 6,348,000$ 14,600,400$ 33,580,920$
Site Ads 2% -$ -$ -$ -$ -$
Total Accrued Revenue $253,500 $1,714,650 $6,506,700 $14,965,410 $34,420,443
Costs
Initial App Build/Construction 10,000$ -$ -$ -$ -$
Site Maintenance and Enhancements -$ 10,000$ 10,000$ 10,000$ 10,000$
Site Hosting 3,600$ 3,600$ 7,200$ 7,200$ 10,800$
Mobile App Development -$ -$ -$ -$ -$
Tablet App Development -$ -$ -$ -$ -$
Labor 60,000$ 276,000$ 449,650$ 730,020$ 1,224,304$
Marketing Expenses 25% 14,000$ 17,500$ 21,875$ 27,344$ 34,180$
Legal Services 25% 5,000$ 6,250$ 7,813$ 9,766$ 12,207$
Accounting Services 25% -$ 1,000$ 1,250$ 1,563$ 1,953$
General and administrative expenses 5% 1,000$ 1,050$ 1,103$ 1,158$ 1,216$
Total Costs 93,600$ 315,400$ 498,890$ 787,050$ 1,294,660$
EBIT $159,900 $1,399,250 $6,007,810 $14,178,361 $33,125,783
Taxes $55,965 $489,738 $2,102,734 $4,962,426 $11,594,024
Net Income (incl. startup costs) $103,935 $909,513 $3,905,077 $9,215,934 $21,531,759
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Revenue per year
Year 1 Year 2 Year 3 Year 4 Year 5
$.254M $1.7M $6.5M $15.0M $34.4M
Profit per Year
Year 1 Year 2 Year 3 Year 4 Year 5
$.104M $.910M $3.9M $9.2M $21.5M
Total Firms
Year 1 Year 2 Year 3 Year 4 Year 5
200 800 2,000 4,000 8,000
Firms Package Prices
Per Usage Price Package $75
Annual subscription Fee $1000
Key Financial Figures
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Key Risks / Concerns
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• Competitors have suite of offerings that may complement their EDD services
• Large vendors with more money duplicating the software
Competition
• The software programming might have to be updated every time cell phone OSs are updated
• Certain cell phone operating systems might be difficult to work with, in terms of programming
• Timeline view complexities once social media sources and emails are integrated
Technology
• Data security and encryption of sensitive documents
• Usage of a device to “rip” a device of SMS and MMS
Privacy / Security
All businesses face risks, this section includes some of the risks and concerns that we see and are working to address.
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Growth & Development
Growth and Expansion Ideas
Mobile DevicesDownloadable
Media
iPhone Photos
VoiceAndroid
iPad
Industries
Marketing
IntExpansion
More Customiz
ation
Encryption
Features
Social Posts
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Lake Effect Ventures Team
Team Members
*Léandré Johns
Benjamin Bennett
Zak Boswell
Tathagata Dasgupta
Sidi Huang
Charles Milutinovic
Andy Tomka
Alex Yu*Team Lead