Southland 2014 Startup Competition: Day Two

TL;DR

Artifon develops adaptive musical instruments that allow anyone to play various instruments. They are seeking funding to meet regulatory requirements and fulfill the demand for stem cell material for medical research, private banking, and drug development.

Transcript

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Key Insights

• 🖐️ Artifon's multi-instrument provides a flexible and adaptable musical experience, making it easier for individuals to learn and play different instruments.
• 💅 The private banking services for stem cells offer individuals an additional treatment option and potential cure for various diseases.
• 💰 The market potential for stem cell banking is significant, with an estimated multi-billion dollar market nationally.
• 🐕‍🦺 Artifon has met regulatory requirements to ensure the quality and compliance of their services.

Questions & Answers

Q: How does Artifon's multi-instrument work?

The multi-instrument can be held and played like a guitar, bass, violin, piano, or harp, depending on the technique used. It is designed to be ergonomic and adaptable to the player's preferences.

Q: What is the market potential for Artifon's private banking services?

In Tennessee alone, the market potential for private banking services is estimated to be $60 million for individuals with household incomes over $75,000. Nationally, it is estimated to be close to a $2 billion market.

Q: Are there any regulatory issues associated with stem cell banking?

Yes, there are regulatory compliance requirements that Artifon has met to ensure their services comply with FDA regulations. They have taken steps to guarantee the quality and integrity of the stem cell material collected.

Q: What sets Artifon apart from other stem cell banking companies?

Artifon focuses on collecting stem cells from various sources, including wisdom teeth and fat tissue, making it accessible to individuals who may not have had the opportunity to collect stem cells at birth. They also offer a loyalty program for healthcare providers, creating a partnership that benefits both parties.

Summary & Key Takeaways

• Artifon creates multi-instruments that can be played in various ways, making it accessible and less intimidating for beginners.

• The company offers private banking services for stem cells collected from wisdom teeth, fat tissue, and other sources, providing individuals with an additional treatment option in case of future disease.

• They are seeking funding to meet regulatory requirements and expand their customer base, including sales to healthcare providers and drug development companies.