Resources

Our funds will be used primarily to support the research and development that goes into validating the product during design, trial, and manufacturing. Cost: $2.93M in 2022, $2.06M in 2023, $2.06M in 2024 (Total Cost 2022-2024: $7,048,000)

Remaining funds will be used for marketing, advertising, and sales of our products via online shopping platforms and at retail stores (CVS, Rite Aid, Walgreens) - Remaining Cost: $732K in 2022, $515K in 2023, $515K in 2024 (Total Cost 2022-2024: $1,762,000)

While our team is small at the moment, we are constantly growing and are initially recruiting an HR representative who will drive our recruiting efforts for Experienced Business Leaders and Engineers, as well as early talent for Internship Programs. Our company also prioritizes employee and user feedback, which is channeled through our HR department.

In addition, all industry connections, such as relations with medical organizations, competitors, and philanthropic organizations will be driven through our HR group.

At the founding of projectZero at the start of January, many purchases were made out-of-pocket by the co-owners. However, we rely heavily on other sources of funds to support our initiative. Examples of other sources of funds include personal sources of funding from employees, and other members of the projectZero team; individual investments/donations; donations from humanitarian/philanthropic organizations (such as Sickle Cell Society, Sickle Cell Disease Association of America Inc), and other loans/borrowed funds.

Our largest funding is from a Medical Device Production Bank Loan through PNC Bank. This is an $800,000 loan provided to projectZero at the founding of our business in January 2022. Terms of the loan are 5% interest over 36 months.

With this funding, we expect to begin producing our device at a lower cost in order to penetrate the market and make our presence known. Upon applying changes using feedback from users and additional testing, we will ramp up production and sales from January to August 2022. We expect to reach our monthly production capacity in August 2022, where we will consistently output at least 10,000 devices per month. In 2023 and 2024, we expect to maximize production at 100,000 units per month.

Our company will require significant support from technical experts and engineers to design a reliable app that can easily communicate with our device. We hope to have an app released on all major application stores, such as iTunes/App Store, Google Play, Microsoft Store, and more. Our HR department will focus heavily on recruiting talent for this group as early as possible to begin beta development of our app to ensure reliability of communication with our device.

Other design components will need to be tested, re-designed, and validated by our team of engineers upon hiring them. Design components, such as the Bluetooth module, Edge Detection Segmentation Computer, and Blood Pressure Motor/Pump will need to be procured in separate purchases, and assembly will be done in-house at our facility in East Lansing.