Over the years, the average temperature of Earth's atmosphere and oceans has continued to rise steadily, resulting in many "hot" zones around the world. Being a tropical country, the climate in Singapore is hot all year round and the daily temperature can go as high as 35°C. The hot and humid weather here is getting unbearable and affecting many people from all walks of life. In particular, the hot conditions can cause heat-related illnesses, e.g. heat exhaustion, dehydration, heat stroke, etc, and lower work productivity in both industrial and indoors environments.
People who live in Singapore are constantly facing the challenge of protecting themselves from the heat and finding ways to keep cool. The common ways to protect against the heat include drinking water regularly, taking showers more often, wearing light, loose fitting cotton clothes, etc. Using these conventional methods to "beat the heat" might not be effective and practical at all times. The proposed solution to introduce wearable cooling technology into clothing brands allows the consumers to look good while feeling cool and comfortable.
Our product, the iCOOL device, is adapted from an innovative technology that incorporates novel and efficient heat transport mechanisms that remove heat to provide cooling comfort to the body. The iCOOL device has customizable and user-friendly features that could meet the consumer needs for comfort and ease of use. By partnering the clothing retailers, we strive to incorporate the iCOOL device into a series of attire for the market consumers.
The business plan seeks to expound on the strategic partnerships and marketing strategy used to market the iCOOL device. The development, operations and management strategy would touch on the product technology, design and features, as well as the assembly and testing of the iCOOL device. The financial strategy would provide a financial review for potential venture capitalists, business angels and financial institutions. The potential risk factors that might disrupt our launch are elaborated in the risk factor section. Finally, the conclusion expounds on the possible market expansion.
by Chee
