MyClinical the Mobile App for Clinical Instructors

Eva, I learned so much from your venture pitch! I have absolutely no knowledge of this field and every time I asked myself a question, the answer came up further in your website. It seems to me that your app takes all the best and more useful elements of online portfolio apps, with many more targeted features, used for K-12 education and applies it specifically to a clinical setting. My concern is the size of your team, specifically for the start-up phase. You explain that it would take roughly 900+ hours or 4.5 months to design your app. How many people does that estimate take into account, because you only have one software engineer. Would he be doing all the work? Or would you be hiring additional support in order to get your app up and running faster? This could potentially have a big impact on your timeline, so I would need more clarification before pursuing an investment.

Eva, you've got something that is highly marketable to an investor. I hope you'll be able to secure your funds to develop this venture.

I really like the breadth of information offered although the format is not particularly my favourite given that the information is spread over many pages and takes more than 8 minutes to digest properly. The need of the market is very well explained and the approach to satisfy it is very well detailed. I do have some questions: what is difference between basic and premium? is the target market instructors or enterprise? are individual nurses expected to buy the app? will they pay out of pocket for this? how is the initial company valuation determined? I wasn't clear on the revenue path. I looked at the other apps to see if they had prices quoted (but they didn't) so would be interesting to see how MyClinical compares. Therefore, with a more detailed approach to revenue generation, could be interesting from a VC point of view.

Wow, well researched,well presented. My critical mind couldn't find any negatives... and that says a lot!

Eva, your elevator pitch is very well made and gets your main points across quickly and effectively. Your venture website is well built, nicely laid out and easy to follow as it tells its story. Your market trends and focus paint a clear picture for where and how myclinical can fit in. It truly is incredible that no competition exists! I found myself wanting more information about certain aspects, like when you say: “Through rich MIS integration MyClinical understands the relationships between teachers students and preceptors” this strikes me as some pretty phenomenal AI that can ‘understand’ human relationships! I think this deserves a more detailed explanation. Lastly, I appreciated the detailed financial breakdown of the investment opportunity, but while highly detailed about some things it leaves me wondering where 80% of the investment will be spent? Overall, this is a tightly packaged venture pitch which I would invest in if I had a few of my questions answered.

Hi Justin, Great to see your feedback, thanks so much. You’re right I’ll have to learn more about data encryption and add it to my pitch as I am sure that will be one of the questions that come up right away. I do know I’ll have to have the whole app hosted on a Canadian server, most institutions and especially BCIT won’t allow any student information on US based servers. I’ll have to explore that more fully. Yes, I hesitated over the institutional fee as it is such a ‘small’ app and not a full LMS. Instructor pricing would work as most post secondary institutions have a system of personal PD funds that instructors can access for their teaching needs. I think that’s where I will get most of my business. Thanks for your review on this, it’ll be a great help as I go forward with the project. Eva

REVIEW - What a great pitch, Eva! You clearly define the problems that currently exist in the clinical environment, and then distinctly demonstrate how your app would address each facet of the existing problems. You know exactly (painfully clearly it would seem) who your target market is, with specific mentions of who would benefit most from your app, and your pitch highlights key value propositions that make your app very appealing to that market. You also present a clear picture of macro trends within the steadily growing field of Nursing Education alongside the rapidly ballooning world of mobile education technology. Without any direct competition, your venture would likely capture a large following quite quickly, especially if it ends up being the user-friendly mobile app it sounds like it will be. MyClinical appears to be in competent hands with the team you have assembled, and the planned timeline moving forward seems to be well-thought out and practical. As an EVA, I believe that your pitch is worth investing in for all of the above reasons, although I’m curious as to where to the remaining $800,000 will be allocated to asides from the development of the app itself.

Hi Eva, Good venture and elevator pitch! I enjoyed your tone and relevant animations in the elevator pitch along with the overall message as it was clear to understand.  It kept my attention the entire time as I felt like I was learning all about MyClinical. With respect to your venture pitch you had some good content on the website as you clearly outlined both the problem and your solution for potential investors. I liked the market trends, focus, and competition page as it further facilitated your research to prove to investors you are serious about your product. That said, I was left looking for a more developed business model. Every investor wants to get their money back, so it's important to tell them how you plan on generating revenue. For instance, showing  a list of the various revenue streams for your model and the timeline for each of them. How will you price your product and what does your competition charge? You should also discuss the lifetime value of your customer and how you will keep him engaged. Along those same lines, every business has competition even if you think you're offering something new and unique. List your competition and why your product/service is different from their model. If your competitors have been acquired, list acquisition prices and who acquired them. Finally, if you have already raised money, you will want to talk about how much, who invested and what you did with it. If you have not raised money yet, talk about what you have accomplished with minimal funding. If you have personally funded your startup, make it known. Investors like to see entrepreneurs who have invested their own money. If you’re pitching to raise capital, list how much you're looking to raise and how you intend to use the funds. Again, thanks for a great pitch as I would be very interested as a potential investor.

Eva– great pitch that clearly outlines what the problem is and how MyClinical can fix it. With the nominal fee for the offerings, it seems like something that would easily help with all the logistics of practicum. I’m thinking the attractive low price allows for widespread implementation. I think it also works well that it is a per instructor fee rather than an organizational fee. Also, the social value added in the app also makes it an attractive investment as an EVA, since it moves towards a social change, not just a revenue generating organization. It’s been mentioned already, but data privacy could be a concern, as well as data encryption. However, if it is tracking student data versus patient data, then it may be a lot easier. I think the premise as well lends itself to further development into other organizations as a training-tracker tool. Well done, and as an EVA, I would definitely fund this endeavour.

Hi Eva, I'm really glad I got to review your app. It looks great and I hope you are actually going to follow through with it. Your elevator pitch was pitch perfect and had me fully engaged immediately. The app itself clearly addresses a pain point and it is clear that you are the right person to develop it. Your team seems great, if a little small. Would more staff be coming on board down the line? A couple of small notes: I like that you use gender neutral language almost all the time. I would suggest catching the one or two "she"s and replacing them. Gender neutrality seems important to me for this field. Also, if you are presenting this pitch for real down the line, I would first consider data security and how you can ensure it within the app. I have had MET classes with people working at various medical schools and the data you are handling is highly sensitive and should be kept private (since it will likely link to patient personal information). I think the UBC school of medicine has a section on their website on data privacy. Also, I think you might not need to include AI for what you have in mind. Simple data analytics ought to be able to give you the information you need without adding too much expense and complication. Finally, consider adding an exit strategy. You have no competition yet, but you may by roll out time. That said, your roll out is pretty quick, so maybe you'll be fine. Overall, I'm really impressed, Eva. This is the best pitch I've seen so far. You have inspired me! Good luck. :)