foodini business model
TRANSCRIPT
Tay Hong Chuan, David
Chin Shi Yao, Joshua
Ho Kum Wah
Lee Keng Yong, Staniel
Linda Teng Xiu Zhen
Madhushanka Herath
Muhammad Dzahir
BIZ MODEL FOR 3D FOOD
PRINTING FOODINI 2.0
Business models for
other technologies can
be found here:
http://www.slideshare.n
et/Funk97/presentations
INTRODUCTION
FOODINI 1.0
Manufacturer Natural Machines
Origin Barcelona, Spain
Technology Fused Deposition Manufacturing
Interface 7” Touchscreen, Android OS
Recipes Online Community
Methods of ingredient delivery 5 capsules (non-proprietary)
Connectivity USB, Wifi
Target users Homeowners, restaurant use
Price USD 1,366
CONCEPT OF FOOD PRINTING
Purchase of FOODINI
Printer
Purchase recipe Capsules +
Choose Design
Ingredients in cartridges
Settings for printer
PrintingFood ready to
be served
FOODINI 1.0
POSSIBLE APPLICATIONS OF FOOD PRINTING
• Mass Food manufacturers
Large Food Companies
• Food Caters
• Restaurants
• Sports & health centers
Food Service Industry
• Supermarkets
• Distributors
Retailers
• Bakers, Patisseries
• Chocolates
Small Food Companies
• Personal users
• Hobbyist
Home
FOODINI 2.0 ECO SYSTEM
FOODINI 2.0
STANDARD RFID
FOOD CAPSULES
EMPTY RFID CAPSULES FOR SPECIALITY FOOD
INGREDIENT MANUFACTURERS
CUSTOMERSPREMIUM RFID
FOOD CAPSULES
VALUE PROPOSITION
Customer Segments Value Proposition
• Large food companies
• Food service industry
• Retailers
• Enable new food concepts designs
• Tie-ups with manufacturers for food ingredients
• RFID Food Capsules
• Recipe (Trade Secret)
• Efficient use of food materials
• Home users
• Small food companies
• Sleek design with small footprint in the kitchen
• Enable for entrepreneurs looking into the food
business
• Reduces “fast food” consumption
• Complex food designs in short time
VALUE PROPOSITION
NEW FOOD CONCEPTS
Pizza Chocolate Design
Cookie Cake Topper
Jelly Chocolate Truffles
Gelatin Based Meal
Corn Chip
MAIN COMPETITORS
Natural
Machines
Foodini
Customized food
All kinds of food
Based on fresh food color
Longest 20 mins
USD 1,366
The
Sugar Lab
ChefJet
Customized food
Sugar and candy
Monochrome
In between
USD 5,000 (1 colour) USD 10,000 (full colour)
Conventional
Homecooker / Restaurant
Customized Food
All kinds of food
Based on food color
Longest in hours
Manpower cost
3D PRINTER COMPARISON
Foodini ChefJet ChefJet Pro Choc Creator
Price USD 1,366 USD 5,000 USD 10,000 USD 5,733
Target UsersProfessional &
Homeowners
Professional use
(mixology, gastronomy, mass food
production)
Professional baker,
cake master,
restaurants
Ingredient Fresh Ingredients Sugar Chocolate
Food TypeSavory,
DessertDessert Dessert
Food Colour Multi colour Monochrome Full multi colour Monochrome
FOODINI 2.0
Propriety capsules interface
RFID food capsule
Proprietary food capsules to
interface with food printer to
establish strategic control
Prevent usage of counterfeit or
imitation capsules
Channel branding with specialty
food ingredient manufacturers
Unique recipes
Encoded cooking parameters in
the capsules (RFID)
Ensure food comes out perfect
every time
MARKET SEGMENTS
&
CUSTOMER SELECTION
MARKET SEGMENTS & CUSTOMER SELECTION
Chasm Model Analysis
3D Printing Applicable Food
Target Markets
1) Short Term Target Groups
2) Long Term Target Groups
Rank
Current
Limitations
of Market
Segments
Rank
Technology
Acceptance
of Market
Segments
Rank
Current
Strengths
of Market
Segments
Selection Criteria
Maintenance
Support
Functions
Cloud Based
Design Sharing
Regular
software
update
Capsules
technology
Multi Color
Food Printing
High Speed
Printing
RFID encoded
capsules
Large
Food
companies
3 2 3 3 2 3 2 18 4
Food Service
Industry4 3 4 4 3 4 3 25 2
Retailers 2 1 2 2 1 2 1 11 5
Small Food
companies5 4 5 5 1 5 4 29 1
Home Users 1 5 1 1 1 1 5 15 3
Market
Technology Acceptability (lower the score -> low acceptable)
Grade Rank
MARKET SEGMENTS & CUSTOMER SELECTION
- TECHNOLOGY ACCEPTANCE
Available
Market
Channels
Established Processes and
industry experience
Quality
Reputation
Usage
ScalabilityCreative Culture
Large
Food
companies
4 5 5 5 2 21 1
Food
Service
Industry
3 4 4 4 3 18 2
Retailers 5 2 2 1 1 11 4
Small Food
companies2 3 3 3 4 15 3
Home
Users1 1 1 2 5 10 5
Grade RankMarket
Current Strengths (more Capable-> higher the score)
MARKET SEGMENTS & CUSTOMER SELECTION
- CURRENT STRENGTHS
Unable to
Cater for
Complex
Design
Space contraints
Lack of
technical
support
Capital
restrictions
Lack of skill in
food preparation
Large
Food
companies
1 2 2 1 1 7 5
Food
Service
Industry
2 3 3 3 2 13 3
Retailers 4 1 1 2 4 12 4
Small Food
companies3 4 4 4 3 18 2
Home
Users5 5 5 5 5 25 1
Market
Current Limitations (more incapable -> higher the score)
Grade Rank
MARKET SEGMENTS & CUSTOMER SELECTION
- CURRENT LIMITATIONS
Short Term and Long Term Target Groups :
• Small Food Companies followed by Food Service Industry
Long Term Target Groups :
• Home Users, Large Companies and Retailers
MARKET SEGMENTS & CUSTOMER SELECTION
- TARGET MARKETS
Technology
Acceptance
Rank
Current
Strength
Rank
Current
Limitations
RankGrade
Target
Groups
Rank
Large
Food
companies
4 1 5 10 4
Food
Service
Industry
2 2 3 7 2
Retailers 5 4 4 13 5
Small Food
companies1 3 2 6 1
Home Users 3 5 1 9 3
Market
* Baker & Patisseries
* Food Caterers
* Restaurants
* Personal Users
* Hobbyists
* Mass Food Manufacturers
* Supermarkets
* Distributors
CUSTOMER SELECTION & MARKET SIZE
Mass Market
(Long Term)
Niche Market
(Short Term)
3D PRINTING APPLICABLE FOOD
Suitable Food Printer - Foodini 3D Printer
Highest Applicable food - Cakes and Cake toppers
2nd Highest Applicable Food - Chocolates
3rd Highest Applicable Food - Sugar candies and Pizzas
VALUE CAPTURE
VALUE CAPTURE – MARKETING
Social Media
Tie-ups/Partnerships with key opinion leaders (e.g. Michelin star chefs) & brand advocates
Enter major trade shows to showcase product and increase publicity
Consumer Electronics Show (2014)
Web Summit (2014)
China Hi-Tech Fair (Nov 2014)
Mobile World Congress (2015)
Kickstarter as our funding source partners with The Culinary Institute of America to Advance Food 3D Printing
VALUE CAPTURE
Distribution Channels
Direct sales of our products (food printers and
capsules) from our website
Promotions with supermarket
Charging more for premium food ingredients
POTENTIAL BUSINESS MODEL
SCOPE OF ACTIVITIES
SCOPE OF ACTIVITY – FOOD PRINTER
Food Printer
Core Value Creation
Done by FOODINI 2.0
1. Proprietary food capsule interface
2. Proprietary RFID food capsules with cooking parameters
1. Fresh ingredients
2. Potential tie in with specialized food ingredient manufacturers
Collaboration with Partners
1. Marketing & Distribution channels
2. Recipe creation / sharing
3. Distribution of products
Outsourced
1. Manufacturing of food printer and consumables
2. Proposedstandard file format for our food printer
Technology Improvement
• Seek new technologies for next-generation products
Product Development
• Seek out potential partners
• Work with alliances and key partners
Marketing and Sales
• Review channels to increase reach and knowledge of product
• Creation of knowledge database online
• Creation of “Foodini Club”
Customer
Manufacturing / Assembly
SCOPE OF ACTIVITY
SCOPE OF ACTIVITY – COMPANY ROLES
$
Integration of propriety interface
Sales and Distribution Channels
After sales services
$
Pro
du
ct
Product
In-house activities
(Core Value Creation)
Contract
Manufacturer
Distributor
& Shipping
SCOPE OF ACTIVITY - VERTICAL DISINTEGRATION
After Sales
ServicesCustomers
Network
Effect
Outsourced
SCOPE OF ACTIVITY – CORE VALUE CREATION
Working with niche food ingredient manufacturers
Special formulated food ingredients for use with our
printers
SCOPE OF ACTIVITY – ALLIANCES
Strategic alliances with our niche food ingredient
suppliers (speciality chocolatier like Pierre Marcolini)
to create synergy in food recipe creation.
Special tie-in with social media celebrities (on YouTube
channels) to create brand awareness
STRATEGIC CONTROL
Supply
Proprietary
Capsules
Customer
Service
Support in
Maintenance
High Start-up
Cost
Lack of
Operations
knowledge in
3D printing
Dedicated
supply chain
in capsules
distribution
Niche Market
BARRIER OF ENTRY
STRATEGIC CONTROL – STANDARDS
Proprietary food capsules to interface with food printer
(Patent)
Adoption of stainless steel capsules (FDA compliant)
Good temperature control capabilities to maintain food
consistency and textures
Proprietary interface prevents use of counterfeit and
imitation products
Encoding of information on capsules (Trade secret)
RFID capsules enable correct cooking instructions for
specific food ingredients
Collaboration and tie in with specialized food ingredient
manufacturers
STRATEGIC CONTROL – STANDARDS
Common-platform food printing file format
Adoption of widely adopted food printing file format (STL
and XYZ formats) would allow usage of commonly created
designs.
Cooking instructions kept separate from the food printing
file format to lock-in customers.
Food design (Common
source)
Cooking Parameters (Proprietary
control)
Cooked food
BUSINESS MODEL – SHORT TERM GOALS
Create an ecosystem of products surrounding Foodini
3D printer oven – for products such as cookies and
cakes
Substantial R&D effort to explore advanced technologies in
bringing 3D oven to reality
Children marketplace (new market segment)
Children curiosity generates revenue
E.g. Custom made candy e.g. lollipops
BUSINESS MODEL – LONG TERM GOALS
Create a sustainable portfolio of products
3D food printer for airplane food
Passengers can enjoy demand for fresh food system on
board e.g. waffles and pizzas instead of re-heat meals
Spur passengers’ curiosity
Payment may be made via credit cards
Exploring novel ingredients using tie-in with suppliers
E.g. proteins derived from algae, beet leaves insects and
more prosaic fare
3D food printer for cruise operator
CONCLUSION FOODINI 2.0
Desirable 3D food printer
Business model with high barriers of entry
Proprietary Food Capsule interface
Encoded RFID Food capsules with cooking parameters
Customer segments with immediate demand for our
product
Affordable pricing
Long term product portfolio