Sugar Sense

According to the Center for Disease Control (CDC), diabetes is the eighth leading cause of death in the United States. Moreover, the CDC states, about 1 in 5 people with diabetes are unaware that they have been affected. This lack of awareness poses a significant public health concern as undiagnosed diabetes can lead to severe complications, including cardiovascular diseases, kidney failure, and vision impairment. Early detection and management of diabetes are crucial in preventing these complications and improving overall health outcomes. Current detection methods are crude, using rudimentary pricking methods which require needles, this may contribute to people being unaware of their diabetes, resulting in unhealthy or even fatal outcomes. Traditional glucose monitoring involves uncomfortable, stress-inducing finger pricking, which anxiety-prone individuals across all age groups tend to avoid despite its health benefits. Furthermore, in order to continuously track the glucose levels of an individual, these traditional methods would require multiple visits to professional offices which still would not provide a full picture of real-time glucose trends in an individual. 

In addition, this constant testing is both time-consuming and costly, which also oftentimes limits an individual’s knowledge to their own health., but Sugar Sense revolutionizes this process It's a non-invasive alternative, eliminating the pain and inconvenience while providing continuous real-time glucose monitoring. Users can seamlessly track levels throughout the day, fostering a better understanding for informed health decisions. Designed for user comfort, Sugar Sense is exceptionally user-friendly, encouraging use across age groups by removing the fear associated with traditional methods(needles). It goes beyond practicality; it contributes to enhanced mental well-being, especially for anxiety-prone individuals. Also, the potential addition of wireless connectivity enhances the experience. Sugar Sense syncs seamlessly with smartphones, ensuring quick data access, easy sharing with healthcare providers, and insights into glucose trends. This connectivity isn't just a feature; it's a commitment to convenience and accessibility. Sugar Sense also offers as more than a monitoring device, Sugar Sense empowers active glucose management. 

Sugar Sense is a revolutionary non-invasive glucose monitoring device designed to transform diabetes management. Utilizing Germanium Selenide nanomaterials, this wearable armband offers pain-free, real-time glucose tracking. It addresses the significant discomfort and inconvenience of traditional finger-prick methods. This innovation is a game-changer for the 537 million global diabetes patients, offering enhanced comfort and mental well-being. With its smart connectivity, users can effortlessly monitor their health, share data with healthcare providers, and make informed decisions. Sugar Sense is not just a monitoring device; it’s a lifestyle change, empowering users with continuous health insights. It's a financially viable option in the long term, reducing the need for consumables. 

Sugar Sense is specifically designed for individuals with diabetes who require a non-invasive, accurate, and convenient way to monitor their blood glucose levels. The product primarily caters to three key segments: tech-savvy adults with diabetes seeking modern health management solutions, elderly diabetics who often struggle with traditional blood glucose monitoring methods, and caregivers and family members purchasing for those who cannot manage their diabetes independently.

The product meets several critical needs and preferences. It offers non-invasiveness to avoid the discomfort of finger pricking, ensures accuracy for reliable glucose monitoring, and provides ease of use with a simple interface, particularly beneficial for elderly users. Continuous monitoring is a key feature for effective diabetes management and understanding glucose trends, and connectivity for integration with digital devices is essential for tracking and sharing health data.

In terms of market size, the Total Available Market (TAM) comprises the global diabetic population, approximately 537 million people, representing the broadest market potential for Sugar Sense. The Serviceable Available Market (SAM) is focused on tech-savvy and higher-income regions with better healthcare infrastructure, estimated at around 20% of the TAM. Considering market penetration and competitive factors, the Serviceable Obtainable Market (SOM) is initially projected to be around 1-2% of the SAM, with potential growth as the brand becomes established and expands its reach.

The buyer and payer dynamics vary; often, the individual with diabetes is both the buyer and the payer. However, for elderly patients or those under managed care, the payer might be a family member, caregiver, or healthcare insurance provider.

Sugar Sense is embedded in an extensive ecosystem, involving device manufacturers, healthcare providers, insurance companies, regulatory authorities, and technology partners for app integration and data management.

The Sugar Sense team, driven by a shared passion for healthcare innovation and personal connections to diabetes, is a dynamic blend of youth and expertise. Our formation was inspired by a collective ambition to enhance diabetic care. Our team consists of three enthusiastic young professionals, along with seasoned experts in nanotechnology, biomedical engineering, and business development.

Max leads our Research & Development (R&D), bringing cutting-edge knowledge in nanotechnology, crucial for the development of our non-invasive glucose monitoring technology. Sophie spearheads our marketing and development efforts, utilizing her creative skills and market insights to effectively position Sugar Sense in the healthcare market. Brian oversees the business and sales model, applying his expertise in business development and sales strategy to ensure commercial viability and market penetration. This blend of technical prowess, market acumen, and entrepreneurial zeal positions us uniquely to revolutionize diabetic care through Sugar Sense.

Sugar Sense's technology uses nanomaterial sensors fabricated using Germanium Selenide, which have been tested at numerous labs as well being insuring reliability and consistent results and finalizing the design process. We are also currently minimizing the materials needed for the sensor to make it comfortably fit within an armband for constant usage.

       Paper View       Plain Text View     

The Solve Competition appeals to me because it offers a stage for me to present solutions to current real-world problems and receive feedback from real experts in the field. Solve provides a stage and a blossoming global community of young entrepreneurs that promotes networking and collaboration. Solve provides an invaluable experience of exposure to the landscape of entrepreneurship in the real world. Furthermore, it provides a testing ground for your entrepreneurial skills and a place to refine them. Solve is an unmissable opportunity to further my skills and help the wider world, and I cannot wait to participate.

Sugar Sense incorporates Germanium Selenide (GeSe), a chemical compound represented by the formula GeSe. This black crystalline powder functions as a semiconductor in electronics due to its well-matched bandgap with the solar spectrum, high mobility, and significant optical absorption. These properties make it a promising candidate for nanomaterial sensors in non-invasive blood glucose monitoring. Not only does it exhibit favorable properties, but GeSe has also not been previously used in nanomaterial sensors for glucose monitoring, providing a unique and easily patentable technology. The pivotal technical components of Sugar Sense include the utilization of GeSe nanomaterials, photoplethysmography, and semiconductor-based sensors. Chosen for its atomic-level thickness, tunable electronic structures, and high flexibility, GeSe is the core sensing material for glucose detection. Its well-matched bandgap with the solar spectrum and high optical absorption are crucial features. The nanomaterial sensors operate by capturing glucose-induced changes in optical properties, forming the basis for real-time glucose level assessments.

Sugar Sense’s revolutionary approach to glucose monitoring emphasizes addressing key customer concerns and aligns with current industry market trends. Its main mission is to provide the best user experience by offering a pain-free monitoring experience, contrasting the discomfort associated with traditional finger pricking. Sugar Sense prioritizes user comfort, positioning itself as a solution that alleviates concerns such as the fear of needles, thereby fostering a positive impact on mental well-being. Its continuous real-time monitoring capability without pricking stands out as a crucial customer benefit, allowing users to comprehensively understand their glucose fluctuations throughout the day and proactively make informed health decisions.

Sugar Sense's non-invasive nature provides a non-anxiety-inducing experience, making it appealing to a wide user base. It addresses current societal demands through its use of wireless and Bluetooth technology, keeping all information in one place and ensuring that users can check their health status at any time and have easy access to medical experts. Sugar Sense does more than just monitor; it allows users to take control of their health through active glucose management, providing instant feedback on decisions related to diet, exercise, and medication.

Sugar Sense connects with the current medical field through healthcare providers. As an ever-evolving technology, it has the potential to grow not only as a glucose monitoring tool but also as an app. With alliances with technology-focused partners, Sugar Sense is ensured to stay at the forefront of medical advancements. Insurance companies find appeal in Sugar Sense's long-term cost savings, aligning with the broader industry goal of reducing healthcare costs. Patients and caregivers benefit from Sugar Sense's customer-centric approach, offering a solution that caters to their needs. As the industry undergoes ongoing research and development, Sugar Sense stands as a solution, ready to adapt and integrate emerging technologies, solidifying its status as a holistic alternative in glucose monitoring.

My solution will have an impact on the problem due to it being a two-problem solution, the first being trypanophobia and hemophobia, the fear of needles and blood, respectively. The second issue it combats is the lack of continuous glucose monitoring, with no current devices having the ability for mobile and on-the-go usage without being invasive. I am sure it will have an impact because it is more cost-effective over time than traditional methods and a completely new technology. 

The impact goal for my solution is the 3rd goal, which is to "Ensure healthy lives and promote well-being for all at all ages." I measure my progress toward this goal by lessening the cost of production and retail of my solution. Through this process, I can make it so my product is widely obtainable to the public. Furthermore, Due to 1/3 of children being afraid of needles my solution completely remove the need for needles with it being non invasive.

Sugar Sense functions through photoplethysmography, a method of measuring blood using light. This is conducted by using a light emitter and a photodetector, like the aforementioned GeSe, and placing them on opposite sides of the tissue. By measuring changes in light intensity, polarization, etc., Sugar Sense can detect changes in glucose levels. With its wearability, it provides constant and reliable data without any unwanted variables. The third part of Sugar Sense is the semiconductor sensors incorporated in the photodetector. These sensors measure the light from the emitter through the skin by changes in their diodes and temperature-sensitive voltage, making it easy to determine changes and relay them to Sugar Sense. With all three of these components combined, Sugar Sense not only provides accurate and constant measurements but is also non-intrusive, unlike current methods. Ongoing research aims to optimize nanomaterial sensors, refine photoplethysmography techniques, and enhance the overall performance of semiconductor-based sensors. This convergence of advanced materials and sensing technologies promises to revolutionize non-invasive health monitoring, particularly in blood glucose measurement.

We have validated Sugar Sense using three different methods: personal testing, engaging with industry leaders, and conducting in-depth research of academic literature. Our research offered a glimpse into the extent of Sugar Sense's applications and its future as a product. Personal testing involved developing the GeSe photodetector and testing it against different levels of intensity and polarized light. After calibrating the GeSe and confirming its functionality, we connected the device to known glucose concentrations to test its accuracy. The results were positive, proving that Sugar Sense's concept of non-invasive glucose monitoring is not only possible but also attainable.

With this knowledge, we sought to further develop Sugar Sense, so we turned to leaders in fields relevant to our product, including nanotechnology, glucose monitoring, and general health. Through interviews, discussions, presentations, and feedback, we addressed potential pitfalls our product could encounter and improved upon previous limitations. Additionally, based on recommendations and to build upon our prior research, we delved deeper into academic literature. Our findings validated our monitoring technologies and brought to light design flaws and issues.

This new understanding led us to update our design based on the latest advancements in glucose and health monitoring, including the development of an easily accessible app for real-time health monitoring. We also used the studies to explore various optical techniques for non-invasive glucose monitoring. For example, one clinical trial consisting of 41 diabetics demonstrated an 89% accuracy rate and a mean absolute relative difference of 10%. This helped us fully verify the accuracy of our method and others, creating a strong sense of reliability.

Throughout this journey to validate our innovation, we have substantially improved it, starting with an idea and evolving it into a fully plausible invention focused on three main components: photoplethysmography, semiconductor-based sensors, and Germanium Selenide. Our ongoing research and efforts are now focused on enhancing user experience, ease of use, and potentially employing machine learning to better integrate this tool into daily life. Our validation process encompassed personal testing, industry engagement, literature review, and quantitative data analysis. The positive outcomes from these efforts reinforce Sugar Sense's potential as a groundbreaking non-invasive glucose monitoring solution, poised to positively impact the lives of individuals managing diabetes worldwide.

At the current moment I am the only one working on the project. My name is Maximilian Byron Kopp and my number is 267 888 7526

I have been working on the solution for approximately one year.

At the current moment I am the only one working on the project. Therefore there is not much to do on about Diversity, Equity and Inclusion.

To attract and sell to customers, Sugar Sense will implement a multi-faceted approach. We will leverage digital marketing, emphasizing the device's non-invasiveness and real-time monitoring capabilities, to target tech-savvy individuals with diabetes. Our best initial or pilot customers would be early adopters in the diabetic community who are active in online diabetes forums and groups. Engaging with these communities through social media and online marketing will be key. Furthermore, attending healthcare and technology expos will raise awareness among a broader audience.

Partnerships with healthcare providers, diabetes research centers, and care centers will establish our credibility in this medical field while also facilitating a broader reach. These partnerships can also offer opportunities for bundled sales with other diabetes care products, enhancing market penetration. 

Key Revenues:

Direct Sales: The primary revenue comes from the sales of Sugar Sense devices. With a steady price of $175 per unit, the revenue scales from $17,500 in the first year (100 units sold) to $1,750,000 by the fifth year (10,000 units sold).

Costs to Deliver One Product Unit:

Production Cost: Estimated at $90-$105 per unit, considering raw materials, manufacturing, and assembly. This range is based on the industry norm of 50-60% of the retail price. Distribution and Packaging: Assuming around $5 per unit for packaging and distribution. Total Cost per Unit: Approximately $95-$110.

Other Key Costs:

R&D: Initial years may see higher R&D costs, potentially around $200,000 annually, decreasing as the product matures. Marketing and Sales: Assuming an initial investment of $50,000, scaling up to $200,000 by the fifth year as the brand grows. Operational Expenses: Starting at $30,000 in the first year, increasing in proportion to sales volume, possibly reaching $150,000 by the fifth year. Technology Upgrades: Annual allocation of around $40,000 for continuous improvements and software updates.

Summary:

In the first year, with revenues of $17,500 and estimated total costs (including R&D, marketing, operational expenses, and unit production costs for 100 units) of around $280,000, the business would operate at a loss. However, as sales volume increases and R&D costs stabilize, the model predicts a break-even point and subsequent profitability. By the fifth year, with revenues hitting $1,750,000 (excluding additional service revenues) and total costs around $1,250,000 (considering all operational, marketing, production, and R&D costs), the business could see substantial profits, demonstrating the scalability and long-term viability of the Sugar Sense business model.

To kickstart Sugar Sense, an initial fund of approximately $60,000 is required, supplementing the $7,500 seed funding already secured from Ankaa Beauty LLC, KB Global Holding Limited, and Crown Wealth LLC. This capital will be crucial in covering essential aspects such as research and development (R&D), manufacturing setup, and operational overheads. This initial investment will lay the groundwork for Sugar Sense, allowing us to refine our product and establish a foothold in the market. As we progress, our operational funding is expected to be increasingly sourced from our revenue streams. By the fifth year, we anticipate a significant increase in net income, projected to be around $800,000, which will be reinvested to further enhance and develop our product, ensuring continuous improvement and market competitiveness. This strategy positions Sugar Sense for sustainable growth, leveraging early investments to build a strong foundation for future self-sustained financing.