Team 20 // CaneX
Visual impairment is a serious problem affecting millions of people around the globe. In today’s world of advancing technology, visually impaired people are still distanced from the freedom of travelling around. CaneX is designed to help these people feel as close as possible with the visually unimpaired. CaneX is an innovative walking cane that enables visually impaired people navigate around crowded cities and landscapes as easily as anyone else, avoiding fixed and moving obstacles along the way. High precision positioning, combined with wide angle camera alerts users in real time movements around them for effective travels.
A Disruptive Technology
CaneX is a hand held device with the option of extending it to act as a full length walking stick. Thus, the user can smoothly adapt to our smart cane solution, while still having the freedom to keep their original travel habit with a physical cane if they want to. The vision of the company is to evolve CaneX into a product that can be worn around a limb, further bringing the ‘unimpaired person’ feel. The future foresight is to also allow for the device to be used by the common consumer, thus removing the need to even watch where they are walking.
Loneliness and solitude is prevalent amongst the blind, especially the elderly. Besides, visually impaired people need extremely strong orienteering skills, even with the use of guide dogs. They require help in navigation, either from peers or from a stranger. Moreover, there is also some amount of social stigma associated with carrying a cane in public. Hence, a very few percentage of the visually impaired people decide to use products designed to get them around. Most of these people only travel from and to specific locations, due to the possibility of getting lost and not knowing the terrain. This challenge can be solved using state of the art technology that is evolving in the world.
Target user / Customer
Target users are visually impaired people around the world. Visually impaired is defined as a person with an eyesight of less than 20/200. There are 30 million visually impaired people in Europe and the number is expected to triple by 2050.
Your solution and how the concept is feasible
Four unique value propositions
- Giving visually impaired people the freedom of navigation;
- Sense and avoid real time static and moving obstacles;
- Highly precise positioning with a margin of error of 1 cubic centimeter enables accurate mapping and navigation;
- Reducing social inequality and eliminating barriers to the disabled.
There is a large number of visually impaired people in Europe and around the world, with the numbers expected to increase. Moreover, being an early market mover provides us the advantage of high market penetration. The estimated market potential in Europe for CaneX is 4.5 Billion DKK. The market penetration can be more than expected, given that our product disassociates stigma, thus bringing in more consumers. A conservative market penetration will reach a revenue in Europe of almost 9 million DKK in the next 36 months. We expect to become cash flow positive by the 23rd month of operations.
Our team consists of four engineers from different fields of engineering, with all competencies needed in the technical and business aspects of the project, thus bringing in different perspectives and plenty of solutions to problems. Moreover, we have a very international and diverse team. Three of the four of us are experienced entrepreneurs, and know what it takes to grind our way out of difficult business situations. We are all very excited to be working on a project that provides a unique value proposition to disabled people, and are determined to work along the obstacles to realize this product.
This diverse team also paves the way to enter different markets in different geographies and the possibility for efficient and effective development of the product.