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Moment Company

We create accessible mental well-being solutions

United Kingdom
Market: Another, Gadgets
Stage of the project: Prototype or product is ready

Date of last change: 04.11.2020
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Idea

In a Covid19 world the need for mental wellbeing solutions has never been greater. The Moment Company creates accessible mental well-being products and services for people suffering from stress and anxiety.

We launched with the Moment Method, an online well-being program, anchored in a handheld light guided breathing device, the Moment Pebble.
Our goal is to breakdown the myth that meditation and mindfulness are difficult, time consuming and expensive practices by showing that everyone has the power to change their mood, and reduce the impact of stress. in as little as 30 seconds

Current Status

Current Status: In Production
2,000 units are landing in the UK in December. 75% of this run are pre-sold through the success of a Kickstarter & indie-go-go campaign (over £60K raised)
The launch sales strategy is focused on the direct to consumer route, using social media marketing channels. In addition, we will partner with online influencers and mental well-being promoters, such as Howmental (300K followers)

Market

Market Size:
The wellness sector is huge, and growing. It is projected that the Global Meditation Market will have doubled in size from $1.2 billion 2017 to $2 billion in 2020 (*the goodbody.com)

To provide focus, and to look at just our UK consumer launch strategy, the below figures represent our projected Addressable Market

Population of the UK in 2018 - 66,400,000
% of the population aged 16-64 - 76%
Number of people aged 16-64 - 50,464,000
Reported anxiety & stress in past year ** - 74%
Potential Market (Number of people in the UK reporting stress in past year over 16) - 37,345,000
Earn over £30K - 7,842,000

Target Segments:
The Moment Company is launching a consumer and digital first sales strategy, heavily focused on engagement through social platforms and online communities.
Using the data collected from our Kickstarter campaign and also social media engagement, our target audience has been identified as:
24-55 Yrs, 75% Female (Women are twice as likely to meditate)
Interests: Meditation, Early Adopters, Yoga, Fitness, Health Interests
Audience Size: 13 million (UK Facebook)
Other targets: High Stress Environments, Suffer Anxiety, Seeking improved general health & wellbeing

In early next year, our intention is to also offer Moment Method in a corporate and educational setting, opening up both audience and commercial opportunities further.
We will also launch into US/EU. Our design patent incudes US & EU markets.

Problem or Opportunity

The Problem:
Prior to Covid19, the effects of poor mental wellbeing, stress and anxiety, was thought to effect more than 1 billion people worldwide. We know this has increased due to the social isolation, fear of illness and burden of economic pressure everyone across the world is experiencing.
We believe we have a duty of care to share simple ways in which anyone can make small changes to their daily routines to improve their mental wellbeing. We do not claim to cure depression, or address the most serious mental disorders, however, we can help everyone, from children to the elderly, learn ways to have a more positive outlook.
To many, mindfulness, meditation and relaxation techniques are felt to be too difficult to learn, too time consuming and too expensive. We want to bust this myth by showing that anyone has the power to change their mood and create a sense of calm in as little as 30 seconds.

Our early research shows that a single use of the Pebble can reduce in-Moment stress by 12%. We are driven by evidence based results and will allow users to track their own progress over time, whilst also providing societal insight into stress management.

The size of the opportunity:
It is projected that the Global Meditation Market will have doubled in size from $1.2 billion 2017 to $2 billion in 2020 (*the goodbody.com)
In addition to spend, there has also been a significant increase in the number of people turning to mindful and meditative practices, translating to an increase in individual time, and therefore money, spent on wellness products and service.
It is believed, globally, that between 200 & 500 million people meditate (*the goodbody.com), 14% of US adults have tried meditation.

Solution (product or service)

The Moment Method Solution

The Moment Method is a specifically designed set of resources to bring the practice of Moments into daily life. Medical research shows that the benefits of mindful practice are cumulative and can last far longer than the moment itself. Our goal is to make the practice of taking a Moment as accessible and easy as brushing your teeth.

The Moment Method Package includes:
Moment Pebble
Moment Booklet
1-month introduction Moment course
Daily reminders & expert tips
Voice activated Moments (Alexa)
Online Moment Community
Access to library of Moment content from our Moment Maker practitioners

Moment Method Features:
As an offline practice, the Moment Method extracts you from the tech-driven, always-on stresses of modern life.
Facilitates the integration of mindful moments throughout your day. Creates a new positive habits. Can be used discreetly if required (e.g. work environment)
The light sequence is based on recognized Cardiac Coherence 5 second breathing sequence
Portable solution that you can use it whenever you need it

Competitors

Competition:
We have defined our competition to include companies with brands and products that have similar objectives to The Moment Company; that is to help customers adopt lifelong positive mental wellbeing habits and practices.

Competitors & Existing Solutions:

Calm (Meditation App) priced at £28.99 per year- £299.99 lifetime
Grossed £74.4 million in revenue in 2019 (up 46% YOY) £0.81bn ($1bn) market valuation

Headspace (Meditation App) priced at £9.99 per month or £49.99 per year
A library of extensive guided meditation sessions. Grossed £45 million in revenue in 2019 (up 33% YOY)

Insight Timer (Meditation App) priced at £8 per month or £48.50 per year

Biobeats (Employee preventative health programme, app + wearable tech
B2B Program) Bespoke B2B model - unit cost unknown. Recently raised $3m

TheaWellbeing (Melo) handheld light guided breathing device with variable settings. One off purchase of £25-£40. Not currently live.

Kumosu - Pendant device, the Shift, that helps control breathing. Hardware, one off purchase ~£90


Advantages or differentiators

We have defined our competition to include companies with brands and products that have similar objectives to The Moment Company; that is to help customers adopt lifelong positive mental wellbeing habits and practices. Set out below are the key competitor characteristics and our points of differentiation

i) Competitor characteristics: Daily meditation sessions, mindfulness techniques, relaxation and sleep devices, mental health support, breathing techniques and courses, anti-stress & anxiety tools.

ii) Key points of competitive difference: We differentiate by making mindful moments accessible – short in duration, portable, guided, supported with an unconnected physical device and with an entry point under £100.

Finance

Current Revenue: £62K (pre-sales, Kickstarter)

Moment Method Price: £69 RRP
Current Landed Cost: £29 (will be reduced to £25 by 2nd run (Feb)
Expected online CAC: £15

Yr 1 - 18,400 units, £868k revenue, £818K total costs
Yr 2 - 105,000 units, £5mn revenue, £3.7mn total costs
Yr 3 - 250,000 units, £12.5mn revenue, £8.9mn total costs

Business model

Business Model: Sales Channels
We have an aggressive strategy for growth. Launch will focus selling The Moment Method package to the Direct to Consumer market in the UK, where we expect to gain early traction. This will be followed by campaigns in USA, Western Europe and then ROW.

We will expand into other verticals including corporate, education and healthcare where we will tailor our offering to specific sector requirements and focus on user groups such as youth and frontline healthcare workers. We are currently speak with NHS Trusts, educational facilities and large EU based corporations to run tests in early 2021.

Product Development & Revenue Streams:
Future generations of Pebbles will include biofeedback capabilities such as heart rate detection. Data will sync with an app to allow users to track their progress and for Moment Company to receive accurate data sets to collate and publish community wide research.

The one month online course and app which supports use of the Pebble will allow us to develop ongoing courses and content to a captive, engaged audience. As our solution offering expands, we will also adapt our revenue model (i.e. subscriptions)

Money will be spent on

The investment money raised will be allocated as follows:

60% stock
10% R&D
18% Operations
12% Marketing

Offer for investor

The Moment Company is seeking to raise £400K at a pre-money valuation of £1.6m
The company has HMRC approval for a SEIS/EIS program.

Team or Management

Risks

At the Moment Company we have an ambitious plan for growth and expansion over a compressed time frame. Carefully managing risk will be necessary in order to achieve these goals. Where possible we will anticipate various types of risk and then put processes in place to appropriately manage those risks.
These include:
Market Competition - The personal wellness market is large, growing and competitive. In the early stages we face the risk that our product launch will struggle to gain market traction if we are not perceived to be sufficiently compelling, differentiated and competitively priced. We are mitigating this risk by market testing.
Technology - Continuous innovation is an important element of our growth strategy. Updates in hardware and software will be bundled with our services and wellness programs to minimize the risk of being overtaken by our competitors. We will partner with third parties to accelerate our technology development.
Manufacturing & Logistics – We have carefully chosen our manufacturing partner. They are experienced with design through manufacture and have a proven track record of reliably serving other UK companies. Being situated in Shenzhen, China presents logistical risk, so, while this partner has the capacity to meet medium term demand, we are evaluating near shore options.
Intellectual Property – We have filed for patent and copyright protections
Investment – The pace at which the business grows will be impacted by the investment that we are able to attract. managing this risk.
Coronavirus – The current pandemic has created considerable market disruption and uncertainty. Research suggests that this will trigger an increase in demand for personal wellness products and services which will be positive for the Moment Method launch. We will monitor closely, and where possible anticipate those trends.

Incubation/Acceleration programs accomplishment

Moment Company Founders are participated in the following programs:

Brunel University Central Research Lab Accelerator Program. This was the catapult that evolved the concept into a marketable product. This progam also came with a €5,000 de minimis EU award.

The Trampery Evo Accelerator Program (currently attending) Focus is on exploring a post-corona world by providing alternative business model ideation with like-minded business, that have social and environmental impact at their core.

The Moment Company has been selected to appear on the BBC show Dragon's Den, creating a huge audience reach and brand awareness opportunity. Filming was due to take place to film in May 2020 and has since been postponed to Q4 due to Covid 19.

Won the competition and other awards

Brunel University Central Research Lab Accelerator Program. This was the catapult that evolved the concept into a marketable product. This progam also came with a €5,000 de minimis EU award.

Invention/Patent


The design rights for the form and aesthetic qualities of Moment Pebble in the UK and USA have been filed.

The European registered design application has been allocated the application number 8217574.
The US registered design application has been allocated the application number 29/756521.

Photos

Photo 1 - We create accessible mental well-being solutions
Photo 2 - We create accessible mental well-being solutions
Photo 3 - We create accessible mental well-being solutions

Product Video

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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video