Entrepreneurship
"Next-generation materials offer a greener and healthier outdoor experience."
Building on our bacterial cellulose modification machine and our exploration of optimizing bacterial cellulose and protein production, we have initiated a startup company to commercialize the iGEM project. We identified the intersection between outdoor gear and consumer healthcare markets, and designed a 100% bio-based, environmental preserved bacterial cellulose adhesive bandage tailored for outdoor enthusiasts. Utilizing our company’s core technology, the "Bacterial Cellulose Modification Machine," we have integrated multiple functionalities—such as adhesion, antimicrobial properties, and repair—into our bacterial cellulose bandage, combining medical benefits with environmental sustainability.
Our product line is named "ExploreAid," leveraging our capabilities in material innovation and production, alongside AI technology, we can now more efficiently and accurately screen functional materials. By combining synthetic biology with traditional fermentation techniques, we can make bio-based materials more cost-effective. The future belongs to bio-based materials, and we aim to lead the revolution in next-generation outdoor gear.
As part of our entrepreneurial plan, we have thoroughly developed a comprehensive Business Plan that includes product development, market analysis, and cost optimization strategies. Additionally, we have outlined a clear financing strategy to support the company’s growth and scalability.
Entrepreneurship
Company Name and Value
Methodology Overview
Business Plan
1. Origin
2. Demands
3. Product
4. Marketing & Sales
5. Strategy & Policy
6. Visual Identity
7. Production
8. Business Canvas & Risks Mitigations
9. Financing Plan
ESG Report
CSD Report
Feedback & Partnership
Feedback
Partnership
References
Back to the topBusiness Proposal for Roadshow and Potential Investors
We have prepared a Business Proposal document for investors and have applied to deliver a roadshow pitch presentation during the Live Stage segment at the 2024 iGEM Jamboree. If our application is approved by the committee, we will proceed with the presentation. We look forward to your participation.
Here is the PDF preview for the Business Proposal:
Name: Vanguard Biology Ltd.
Mission: "Build a New Era of Healing on Biodegradable Foundations"
Value:
Our approach to product development and commercialization is grounded in a systematic methodology that ensures comprehensive coverage of critical aspects. By addressing customer needs, feasibility, scalability, and long-term impacts, we have built a robust foundation for success. Each of the five pillars outlined below ensures that our project is not only innovative but also practical and sustainable.
Through thorough market research, we identified our target customer segments and pinpointed specific unmet needs. This has allowed us to tailor our product to solve real-world problems, such as the lack of biodegradable and antimicrobial adhesive bandages in the market.
We demonstrated that our modular bacterial cellulose platform is both technically feasible and scalable for future upgrades. This flexibility ensures that the product can evolve and expand into new applications, meeting growing market demands.
Our development plan is detailed and actionable, featuring realistic milestones, timelines, and resource planning. This clear roadmap provides a structured approach to overcoming challenges and achieving market readiness.
Our team comprises experts in biotechnology and business, and we have engaged key stakeholders to ensure alignment with industry standards. This collaboration ensures the credibility and sustainability of our project as it moves forward.
We have thoroughly considered the environmental and social impacts of our solution. By focusing on reducing plastic waste and eliminating harmful chemicals, we are contributing to a more sustainable future, while also preparing for regulatory and environmental challenges.
This methodology ensures that we balance innovation with practicality, creating a well-rounded approach to developing a commercially viable, environmentally friendly solution.
Bacterial cellulose offers immense application scenarios and commercial potential, and to fully harness this, our team is developing a modular platform that enables binding with various proteins, such as antimicrobial peptides, to create innovative materials. Our initial focus is on commercializing these antimicrobial peptide-BC composite materials. Using a Weighted Scoring Model[1.ChatGPT 4o Dialouge 4], we evaluated various application scenarios for this material and selected adhesive bandages as the optimal product for launch, based on their strong market potential and alignment with our innovation strategy.
Weighted Scoring Model for Intial Product Selection
Traditional adhesive bandages face several limitations, such as being non-biodegradable, difficult to sterilize, and slow in promoting healing. Liquid bandages currently available on the market often have a strong odor and can cause skin irritation. While solid bandages are more common, they tend to be bulky, inconvenient, and contribute to environmental pollution. To address these challenges, we are developing a new generation of adhesive bandages that overcome these issues.
Traditional bandages, usually made with elastic fabrics, present significant environmental challenges due to their reliance on harmful chemicals and non-biodegradable materials. A recent study revealed that 65% of bandages contain PFAS, commonly known as "forever chemicals," which not only persist in the environment but also pose potential health risks.[2] Additionally, the widespread use of plastic or synthetic materials, such as TPU, in bandages contributes to landfill waste and increased greenhouse gas emissions.[3] In contrast, bacterial cellulose (BC) degrades in just 0.5 years, offering a significantly more eco-friendly solution. The following graphs provide a clear comparison.
The textile industry’s role in this issue is also notable, especially concerning elastic fabrics. It is a highly resource-intensive sector, with the production of just 1 kilogram of fabric requiring up to 200 liters of water, while the associated energy consumption significantly adds to the overall carbon footprint[4]. The disposal of non-biodegradable fabrics further exacerbates these long-term environmental challenges, as they can persist in landfills for decades, worsening waste management issues
Our product is a revolutionary adhesive bandage made from modified bacterial cellulose, combined with mucin, antimicrobial peptides, and collagen. This creates a unique product with antimicrobial properties and enhanced wound healing capabilities.
These antibacterial and eco-friendly bandages reflect our commitment to sustainability, health protection, and innovation. Made from biodegradable bacterial cellulose, they align with our mission to provide high-quality, environmentally responsible products.
While designed with outdoor enthusiasts in mind, these bandages are equally suitable for the general public, offering biodegradable, antimicrobial protection for all users. They effectively prevent infections, promote faster healing, and exemplify our dedication to healthcare innovation and environmental responsibility.
We have conducted a comprehensive SWOT analysis, identifying key strengths, weaknesses, opportunities, and threats for our product and market strategy.
Engineering of the material
Our project advances the work of the Imperial College team from 2014, which used bacterial cellulose to create fashion textiles. Building on their foundation, we have further developed degradable and antibacterial bacterial cellulose materials, with adhesive bandages as our first product.
Three phases of Raw Material production POC
Phase 1: Base Material Production POC
The production of bacterial cellulose, which serves as the base material for our products. While bacterial cellulose occurs naturally, it can also be efficiently produced through engineered bacterial systems. Given the maturity and reliability of current production technology, our company has decided to manufacture bacterial cellulose in-house to ensure quality control and scalability.
Phase 2: Scaffold Production POC
Connection between curlis fiber and spy-tag.
The essence of curlis fiber is protein. curlis fiber can tightly connect to cellulose and improve its function. Also, the spy-tag and spy-catcher can be seen as a scaffold. spy-tag and spy-catcher is a mechanism to form a protein-protein interaction. The left of spy-tag is curlis fiber, the right is the protein of interest. We make this part by ourselves by the production of E.coli.
Phase 3: Fusion Protein Production POC
Connection of spy-catcher and POI POI is the functional protein. We can produce it by E.coli. We just prove the connection of spy-catcher and color protein. In the future, we will use the Antimicrobial peptides and collagen as the POI.
Phase 4: All Together POC
Based on our analysis form, we can conclude that our product offers the following distinctive advantages:
Our segmentation strategy focuses on two primary consumer profiles: individuals with a monthly income of 7,500 RMB to 15,000 RMB who are also outdoor sports enthusiasts.
4.2.1 Income-Based Segmentation
Based on our survey data and the model correlating income with consumer desire, our analysis shows that consumer desire increases rapidly with income up to a certain point, and then declines slowly. Specifically, users with a desire score greater than 4.75, indicative of a high likelihood of purchasing our product, generally fall within the income range of approximately 7,500 RMB to 15,000 RMB per month. This segment is our primary target, as they exhibit a strong inclination towards our product features.
To provide a clearer picture of this relationship, we have included a chart that visualizes the correlation between income levels and consumer desire scores.
This chart highlights the targeted income range and illustrates the significant overlap with our intended consumer segment.
4.2.2 Outdoor Activity-Based Segmentation
Our investigation into the impact of outdoor activities on consumer preferences reveals that individuals with outdoor sports experience rate our product more favorably. These consumers have shown higher scores across several product attributes, particularly those related to wound care and environmental impact.
Here is a pentagon chart to visualizes the comparative ratings of some related features.
It is obviously illustrated that outdoor sports participants assign higher scores to our significant features A, C, and E. In addition, the overall average score from outdoor sports participants is higher than no outdoor sports people. These confirm the hypothesis that they would prefer our products than no outdoor activity people. This correlation underscores the alignment of our product's benefits with the needs of outdoor sports participants.
We are standing at the cusp of a future brimming with expansive growth and exceptional achievements.
4.3.1 Booming Market
The global wound care market, valued at approximately $20 billion in 2023, is growing at a compound annual growth rate (CAGR) of 5.8%. Within this wound care market, solid medicated bandages currently hold a 17.4% penetration rate, indicating a significant segment for advanced wound management solutions.
Our new biodegradable, antimicrobial, and wound-healing bandage aligns with current trends and market demands. With the existing 17.4% penetration of medicated bandages and the anticipated growth in eco-friendly wound care solutions, our product is well-positioned to capture a significant share of this expanding market, offering substantial opportunities for investment and growth.
4.3.2 Market Size Estimation
Market Volume
Based on our segmentation principles, using reliable data obtained from various articles and our comprehensive survey conducted among local citizens, we drew the following graph to estimate potential market size.
As it is shown above, we have identified an estimated total market size of 4,429,107 people. According to our survey on bandage usage frequency, we can confidently estimate that our potential clients will use approximately 5.21 bandage pieces per year on average. This indicates a total annual demand of approximately 23,075,648 pieces, equating to around 1,922,971 pieces per month.
Market Share Rate Estimation
To provide a reasonable estimation of our potential market share rate, let's compare our projections with existing players in the Chinese medicated adhesive bandage market:
These market share percentages refer to the overall Chinese market, while our target market segmentation is far more refined. Therefore, our share within our target user base is likely to be much higher. Based on these comparisons and using a gradual market entry strategy like increasing product types, we estimate our segmented market share rate as follows:
Assuming a profit of 1 RMB per piece, this would result in a potential monthly revenue of 576,891 RMB after 24 months. In fact, after our technology iteration, the profit per piece definitely will be much higher than this amount. Indeed, we are poised on the threshold of a future filled with boundless opportunities and extraordinary success.
Our adhesive bandages are distributed through two primary channels: physical pharmacies and online platforms.
4.4.1 Pharmacies
Our primary sales channel is through pharmacies distributed across various regions. According to our survey, 87.97% of respondents prefer purchasing adhesive bandages from pharmacies, making it the leading channel by preference. Pharmacies offer consumers the immediate availability and trusted setting for health-related products, which is a significant factor in their preference for purchasing adhesive bandages.
4.4.2 Online Sales Channels
We will also be selling through online platforms such as Taobao, JD.com, and Amazon. The trend toward online shopping is robust and growing, with significant data supporting its expansion:
In 2021, approximately 3 billion people globally used online shopping, representing about 62% of internet users.In 2022, approximately 3.2 billion people globally used online shopping, representing about 63% of internet users.This data highlights a steady increase in online shopping adoption.
For adhesive bandages specifically, market research indicates that around 30% of users prefer to purchase online, making it the second most popular channel. The growing trend towards online shopping underscores its potential as a vibrant and expanding market channel.
Our strategy focuses on leveraging various online platforms to differentiate our adhesive bandages, promote our environmental commitment, and enhance brand recognition.
4.5.1 Professional Knowledge Sharing
To distinguish our adhesive bandages from competitors, we will regularly provide educational content through product packaging inserts and digital channels. This content will cover essential topics such as wound care, the optimal frequency for bandage changes, and the principles of antimicrobial action. By positioning our product as a professional and trustworthy choice, we aim to enhance consumer confidence and establish our brand as a leader in wound care expertise.
4.5.2 Emphasizing Brand Stories
We will highlight our brand story and commitment to environmental sustainability, focusing on our dedication to creating a new outdoor experience with eco-friendly practices. Our messaging will underscore our use of 100% recyclable or biodegradable packaging materials and our efforts to calculate and reduce our product's carbon footprint. This transparent commitment to environmental responsibility will appeal to eco-conscious consumers and outdoor enthusiasts who prioritize sustainability.
4.5.3 Customer Engagement as Partners
We view our customers as partners in our environmental mission. Through regular updates on environmental issues and green living tips, we will foster a deeper connection with consumers who share our values. Educating our audience about the benefits of our eco-friendly materials and technologies will help build a strong, value-driven relationship and reinforce our commitment to both health and the environment.
4.5.4 Enhancing Brand Recognition
Market research indicates that 57.14% of users are not fully aware of the differences between adhesive bandage brands. To address this, we will strengthen our brand education efforts across various online platforms. This includes showcasing our adhesive bandages' unique advantages, such as superior antimicrobial effectiveness and faster healing times, on our official website, social media, and e-commerce platforms. By providing comparative analysis and highlighting our product's superior qualities, we aim to increase brand awareness and educate consumers about the benefits of choosing our product over others.
Shenzhen offers substantial policy support to high-tech industries, including a reduction in enterprise income tax for the first three to five years. For fledgling businesses such as ours, the government has established a financing guarantee fund and a loan risk compensation mechanism to share the credit risk of financial institutions. Shenzhen is offering a one-time start-up grant of up to 500,000 RMB to synthetic biology enterprises set up by domestic and foreign innovation and entrepreneurial teams in the region. The goal of this grant is to promote the transformation of innovation results. As a synthetic biology and biomanufacturing company, we can also benefit from this. Furthermore, the park will offer a highly developed platform for pilot test validation and achievement transformation. This will be beneficial for us in the later stages of pilot testing and large-scale conversion of our products into final products, allowing us to commence sales.
Our product has antibacterial properties and promotes wound healing by linking antimicrobial peptides and collagen and other POIs. However, there is no adhesive bandage on the market that uses this new technology or this material. Therefore, we have applied for a Class II medical device registration and manufacturing license. After contacting external licensing service companies, we revised our strategy. Our facility lacks the necessary ￥100,000 clean room to manufacture Class II medical devices. Accordingly, we have elected to utilize the registrant model to submit an application for a registration certificate and subsequently engage an OEM factory to pursue a production license. As our product is a Class II medical device, we must conduct clinical trials in order to apply for registration. However, these trials require a highly detailed and meticulous clinical trial plan, which is a time-consuming process. Therefore, we will complete the clinical trial and obtain the registration license at a later date, after which we will begin manufacturing and sales.
Single Piece Packaging:
Material: The single-piece packaging is made from biodegradable paper.
Design: The packaging is compact and easy to open, featuring a simple pull tab. It is designed with a minimalist aesthetic, using natural colors (green, beige) with eco-friendly ink.
Labeling: The front of the package displays essential information: our logo and basic usage instructions. The back only includes expiration date.
Box Packaging:
Design: The box has a clean, earthy design, using natural colors to reflect its eco-friendly nature. The top features our logo slogan.
Details: Box packaging is recyclable and decomposable, which complies with our environmentally friendly pursuit. The front of the box highlights the key features of the bandage (biodegradable, antibacterial, waterproof, etc.) in an organized manner. The sides of the box provide detailed product information, usage instructions, and environmental impact statements. The back of the box includes more detailed information on sustainability and functional efforts.
Our product iteration aims to enhance bacterial cellulose production, optimize the scaffold system, and expand the range of functional proteins for improved performance and commercialization.
Based on our product features and market analysis, we have created a Business Canvas to illustrate our brand.
Moreover, we identify potential risks and develop expected solutions. With effective management, we are more confident in our ability to endure tough times.
| Risk | Mitigations |
|---|---|
| Cost Control Risk High costs and price fluctuations of raw materials like bacterial cellulose, antimicrobial peptides, and collagen could impact product profitability. Additionally, expenses related to R&D, equipment updates, and marketing may increase the cost burden. |
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| Technical Risk The production technology for bacterial cellulose-based adhesive bandages may be underdeveloped, leading to unstable product quality. The preparation process of bacterial cellulose can affect key indicators such as adhesion, breathability, and water absorption. Additionally, the integration of antimicrobial peptides and collagen needs ongoing optimization to maintain their effectiveness and stability. Inadequate technology may result in poor antibacterial performance or protein inactivation. |
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| Market Competition Risk The band aid market is highly competitive, with traditional brands holding significant market share and brand recognition. Adhesive bandages made from bacterial cellulose may face low consumer awareness and challenges in market promotion. Competitors may introduce similar products or engage in price wars, threatening market share and profitability. |
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| Regulatory and Policy Risks The medical device industry, including band aids, is subject to strict regulatory standards. As our product is a Class II medical device, we must conduct clinical trials in order to apply for registration. However, these trials require a highly detailed and meticulous clinical trial plan. Failure to comply with evolving regulations may cause production to stagnate. Moreover, new materials like bacterial cellulose, antimicrobial peptides, and collagen may face regulatory uncertainties, requiring constant monitoring and adaptation. |
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Financing Plan
Founding Team
At Vanguard Biology Ltd., our ESG principles reflect our core belief in driving innovation that benefits both society and the environment. By embracing biodegradable materials, eco-friendly production, and ethical governance, we reduce waste and minimize environmental impact. Our commitment to transparency and community engagement ensures our products not only promote health but also align with global sustainability goals. Through responsible actions and stakeholder collaboration, we strive to build a more sustainable and equitable future.
Here is the PDF preview for the ESG Report:
Here is the PDF preview for the CSD Report:
We have sent bacterial cellulose samples to YuanDong Bio for testing, and they have confirmed that the performance of our bacterial cellulose meets the production requirements. YuanDong Bio is optimistic about potential future business collaborations.
Additionally, we have submitted our Business Plan to apply for YC China’s Seed round funding and received a recommendation from Jolin, the CEO of YuanDong Bio.
Further feedback was provided by Mr. Hu Qing, vice general manager at BLOOMAGE BIOTECH (TIANJIN) CO., LTD. He commented that our overall product is highly commendable, yet he offered the following suggestions:
Our responses to these suggestions are as follows:
