Friday was one crazy day. Our team’s project, Pinnacle AcuShape, swept the People’s Choice Award and made it to the final 4 contestants after being chosen from a total of 40 teams.
Larry Kim, Ed Wu, Khoa Tu, Mohammed Elayan, and Cyrus Manuel — my teammates — did an amazing amount of work to make this a reality. I made sure all the visuals — including AcuShape’s business plan document and the slides — looked good using my graphic design and desktop publishing layout skills. My team was so well-organized that it was incredibly easy to work with them. It was especially amazing to see my friends’ research in ear-nose-throat surgery transform into a business that attracted many, many judges and venture capitalists. Ray Cohen, the CEO of Minnow Medical, and Dr. Joon You from the Beckman Laser Institute provided an amazing amount of coaching along with stories on their past venture capital deals.
The product, AcuShape, essentially makes cosmetic surgery on cartilage minimally-invasive. You basically stick electrodes into the cartilage, hold the nose/ear/etc with a “mold,” and run a low electric current through the cartilage. It’s much more preferable and affordable than the current treatment, which is surgery. It’s in pre-clinical trials with animal subjects, and already numerous papers have been published on this electroforming experiment.
Here’s a comparison of the two technologies:
Each box would come with a power supply, controller, and a starting set of disposable molds & electrode needles.
AcuShape’s revenue model could be a razor-blade like model where we could give away the power supply & controller for free, or we could charge for both razor and blade. Either way, since the parts are disposable, we would have a recurring revenue stream.