We aim to solve the problem of stress and disrupt the wellness industry. Blossoms is your personal wellness assistant which will improve your sleep, enhance your productivity and manage your work-life balance. It is a revolutionary sleep technology that is based on improving the last few moments before sleep accompanied with a powerful gamification app. It not only tracks your sleep but comes with sounds, lights and a mini projector that helps you immerse in an amazing sleeping experience. The gamification app would be an excellent channel to gain traction and market the harkdware.
• We have recently recieved a grant of SGD10,000 from Nanyang Technological University to develop our prototype.
• We have conducted extensive market research through surveys to better understand our consumer landscape. This kind of research has given us a better idea about consumer pain points, further giving a streamlined direction to how unique and effective our product can be. We took part in Y- combinator startup school and got invaluable feedback on the idea.
• Competitor and SWOT analysis.
• We have formulated a business model to approximate our revenue model.
• We have also been successful in making a minimum viable product (MVP) that would give us a better understanding of our product and know exactly how to fine tune and further iterate to a working prototype.
The health tech industry is expected to reach a staggering USD 500 billion dollars by 2025 as estimated by America News Hour. At the same time in 2019 according to Forbes, the Workplace Wellness market reached USD 42.5 billion dollars. With rising consumer awareness of wellness and importance of living a happy life coupled with market stats provides a great opportunity for innovations to thrive in this segment.
Problem or Opportunity
We are solving the problem of increased stress and its consequences. It includes deprived sleep, poor work productivity, and emotional outbursts. According to the Regus study 6 out of 10 workers report being stressed out. Moreover, WHO estimates that less than 25% people suffering from depression has access to proper treatment. Hence improving wellbeing of people is a serious necessity. The rest of the world simply carries on with this increasing truckload of stress and we here at Blossom's aspire to change that. We conclude that lack of physical fitness and mindfulness, overuse of tech and bad work habits increase stress. With a rising trend in awareness of health and wellness, we want to use this opportunity to add value to our people's lives and disrupt the wellness indsutry.
Solution (product or service)
We aim to solve the problem of stress and disrupt the wellness industry. Blossoms is your personal wellness assistant which will improve your sleep, enhance your productivity and manage your work-life balance. It is a revolutionary sleep technology that is based on improving the last few moments before sleep accompanied with a powerful gamification app. It not only tracks your sleep but comes with sounds, lights and a mini projector that helps you immerse in an amazing sleeping experience. On top of that it comes with thermoelectric sensors that increases focus/productivity and keeps you awake. It also has a nap mode. The hardware component will consist of aromatherapy, visual imagery, soundscapes accompanied with facial recognition of tracking sleep. The person’s face will be also shone with artificial sunlight for a better waking up experience. Additionally, from sleep whenever a person needs to destress they could use this product. It would be like a spa in a box type experience.
Alongside it comes our powerful Blossoms app which supplements the Blossoms Stress Buster by converting the data into actionable insights and having a section dedicated to release their stress. It is based on gamification. When users unlock levels of well-being (based on our algorithm) enables them to access rewards and discount coupons of our spa, beauty care, fitness and wellbeing products partners. The app will in itself will be a stand-alone product that can be integrated with the hardware later on. The discount coupons will be on wellness products that would make people enjoy and improve their wellbeing. It will be a hyper personalized way for digital marketing not only wellness products but also services like gym instructor and booking of psychologists. This app would be to gain traction in the beginning so that people would be aware about the brand. It would serve a great channel to market the “Blossom stress buster”.
With a two way revenue stream: one from subscription of premium versions and other from the commission on advertising of discounts on wellness products and services. The best part of the app would be that it would be compatible with other wearables like fitbit, apple watch and also wellness apps like Calm, headspace so that the user could have a single platform for wellness.
Points of innovation:
• Focussing on last few moments before sleep
• Stress buster
• Innovative business model
• Digital marketing innovation
• Single stop solution for well being
• Revolutionary sleep and mood detection using heart rate
Our customers are paying a hefty price to gain the level of stress relief. It includes expensive spa treatments or subscribing to expensive wellness apps that just focusses on a single stress relief measure. Common examples include Headspace, Calm, Sleepzy etc. Consulting psychologists is unlikely and expensive. The wellness-based wearables provide analytics to users but are often very expensive and just merely provide analytics rather than experience
Advantages or differentiators
We are different from the competitors in the following ways:
1. Differentiating business models: discount and promos
2. Wide-variety of stress based solutions: rest of the competitors are just focused on one type of stress relief measures
3. We provide our users a good sleeping experience and make the wearable very interactive compared to just analytics by most of the competitors.
4. Cost: we will offer the product much cheaper
5. Marketing: we believe that the current
Revenue expected in 1 year after launch from the
App: $5 million
Blossom hardware: $2million
Our revenue model is based on
From Blossom App
1. Subscription: the app will be available in free and premium version. The premium version will charge USD9.99 monthly or USD 60/yearly. There will be an option if the user want access to a specific stress solution. That will be USD 3.99/monthly or USD 30/yearly for each type of service availed (sleep, productivity, mindfulness, fitness).
2. Advertising revenue: there will be a 5% commission from the business on every successful transaction done by the use in the app.
From Blossom stress Buste(hardware):
A direct B to C sale of the “Blossom stress buster” between USD 99 -199. Cheaper versions with less features will also be available.
Money will be spent on
Hardware Prototype: 10,000 $
App Creation: 10,000 SGD
Technical Assistance - External: 10000 SGD
Marketing Activities (Onboarding business partners): 10000 SGD
Legal and misc expenses: 10,000 sgd
Team expenses: 10,000 SGD
Offer for investor
Every 10,000$ invested in our company would be equivalent to an equity share of 1% of the company
5,000$ convertible notes with 10% discount(which increases by 1% for every additional 5000$ invested)
2. Government health agency approval
3. Data privacy
4. Technical failure
5. Business partner starting their own promotions
Incubation/Acceleration programs accomplishment
• Startany online accelerator selected us to showcase our product to potential users. We have been selected in Startup Turkey 2020.
• Protega Kita is a 18 month program run by the Singapore Malay Chamber of Commerce and Industries that accepted Blossoms to help us mentor and provide resources for development.
• We also are graduates of Y-combinator startup school program Fall 2019.
• We have been invited to attend M-accelerator summer incubation program in Los Angeles.
• 10,000 SGD worth AWS and Google Cloud credits
Won the competition and other awards
• Received a grant of SDG 10,000 under Student Entrepreneurship program by Nanyang Technological University in Jan 2020.
• Selected as top 10 World finalists in World Asian Business Case competition in Seoul, Korea in Aug 2019.
• Finalists in Spark Tank organized by NUS in May 2019.
• Singapore finalist -IEEAC Case Competition organized by Business China in Oct 2018.