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Open Therapeutics

Crowdsourcing scientists with $4T of unused IP. with crypto.

USA, Ohio
Market: Internet and IT, Information and media, Pharmacology, Blockchain, Crypto currency
Stage of the project: Prototype or product is ready

Date of last change: 05.03.2020
Min investment
$  25.000
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Total required
$ 250.000
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Idea

There is $4T of unused IP in the world. We are collecting, advancing, and monetizing those unused assets by crowd-developing them with scientists who earn cryptocurrency for collaborating and advancing that IP.

Knowbella provides researchers an end-to-end scientific ecosystem with free tools, services, lab equipment, preprint server, grants, manuscript development tool, and rewards them for collaborating with cryptocurrency. This creates the world’s largest think tank, which can address the most significant problems of our time! Many revenue streams are created with us pursuing...

Current Status

Late alpha version is complete at https://Platform.Knowbella.Tech.

Partnership with organization that has over 8M scientists poised to join the Platform. They will earn cryptocurrency for freely joining and establishing a profile.

Market

The average cost to recruit a professional is $15,000.00.[vi]  In 2018, in the U.S., there were 2,400,000 STEM openings.[vii]  This creates a domestic market of $36B per year.  The U.S. employment and recruiting industry reports an annualized increase of 4.7% to $25B “over the five years to 2019”. [viii]  In the U.S., there are about 20,000 recruiting and staffing companies, which operate approximately 39,000 offices. [ix]  Based upon available data, we very conservatively estimate the global total addressable market (TAM) to be $87B per year.


[vi]https://cdn2.hubspot.net/hubfs/478187/2017%20Retention%20Report%20Campaign/Work%20Institute%202017%20-Retention%20Report.pdf

[vii] https://www.jhuapl.edu/STEM/Parents/Jobs

[viii] https://www.ibisworld.com/industry-trends/market-research-reports/administration-business-support-waste-management-services/administrative/employment-recruiting-agencies.html

[ix] https://americanstaffing.net/staffing-research-data/fact-sheets-analysis-staffing-industry-trends/staffing-industry-statistics/#tab:tbs_nav_item_1

Problem or Opportunity

Due to a shortage of STEM researchers, universities and companies are struggling to fill critical positions within their organizations.  One estimate says, “60 percent of U.S. employers are having difficulties finding qualified science, technology, engineering, and math (STEM) workers to fill vacancies at their companies.”[i]

It takes 50% longer to fill STEM positions than non-STEM.[ii]
 
The rate of available STEM positions grew 24% while non-STEM only grew at 4%.[iii]

In just the U.S., there are over 17,000,000 STEM positions in the workforce; from 1990 to 2018 this was a growth of 79%.[iv]

There is such a shortage in the U.S. that it has a special Visa, the H-1B, to incentivize researchers from other parts of the world to come to the U.S. and fill its needs. Unfortunately, a side effect is these recruited researchers home countries lose important brain power that could conduct research and development (R&D) and grow their own home economies.  And the U.S. will continue to turn to other countries to make up its shortfall.  In 2016, it was reported that China awarded in a single year 4.7M STEM degrees, India 2.6M, and the U.S. awarded 568K. [v]



[i] STEM Education Coalition, STEM Education, Good Jobs and American Prosperity; Recommendations to President-Elect Donald J. Trump and the Transition Team, November 2016.  Accessed July 6th, 2018, at http://www.stemedcoalition.org/wp-content/uploads/2016/11/Note-Memo-to-President-Elect-Trump-Transition-on-STEM-Issues-11-28-16.pdf.

[ii] https://www.workforce.com/2015/12/22/recruiting-down-to-a-science/

[iii] https://www.commerce.gov/news/reports/2017/03/stem-jobs-2017-update

[iv] http://www.pewresearch.org/fact-tank/2018/01/09/7-facts-about-the-stem-workforce/

[v] https://www.forbes.com/sites/niallmccarthy/2017/02/02/the-countries-with-the-most-stem-graduates-infographic/#7ce6c48d268a

Solution (product or service)

Open science and open access are new and rapidly expanding scientific models of interest.

Currently, there is no single science, technology, engineering, and math (STEM) end-to-end ecosystem that provides free tools, services, grants, equipment, manuscript development, and preprint server platform for collaborating researchers in which they can earn cryptocurrency for advancing the unused IP.  Further, there is no model to make value of unused and dormant intellectual properties, mainly patents, dissertations, preprints, and software.

Therapeutics (pharma, medical devices, and diagnostics) are expensive propositions.  They are time consuming and expensive to develop and distribute.  As such, many intellectual properties are abandoned or go dormant and unused.  However, by creating a labor force that can advance these technology opportunities, life saving therapeutics, particularly orphan, low incidence diseases and conditions, can make it into the world.

For example, on the Therapoid platform there is a viral oncolytic technology developed at Nationwide Children's Hospital Research Institute. This technology was not licensed by any large pharma. This could be due to low impact marketing or technological advancements that were needed but funding to do so was unavailable.  By bringing interdisciplinary scientists together around this immunotherapy opportunity, advancements and recognition of the technology can be realized.  Then, after enough advancements are accomplished, a generics manufacturer can manufacture the results and a not-for-profit could distribute the product to patients who need it.

The Open Therapeutics https://Therapoid.net platform freely provides unused, dormant, and abandoned therapeutic IP and technologies (pharma, med device, software, and diagnostics) to researchers for crowd advancing/sourcing.  The IP comes from government, corporations, and academia.  It is estimated that in total there is 4 trillion U.S. dollars worth of unused IP (Hovis, 2014).  The platform already has IP from organizations such as NIH and Nationwide Children's Hospital Research Institute.

We also provide the scientists free tools, services, equipment, and grants to advance that IP.

The resulting technologies are free for anyone to use under a modified CC4.0 license.

We will use blockchain as a technology to assist aspects of the crowd-developing and crowdsourcing platform.  For example, we have filed patents  for:
1.  Issuing and managing grant funding on a blockchain.
2.  Managing IP on a blockchain.

The Company will file, if possible with funding, we will develop and apply for patents for:
1.  Managing lab equipment on a blockchain.
2.  Managing preprint server hosted manuscripts on a blockchain.
3.  Using a scientific-proof-of-work, issuing blockchain-based cryptocurrency to reward scientists for collaborating in the Platform.

The development and usage of these blockchain developments will be used to identify and crowdsource/develop life improving and life saving therapeutic technologies and products.

Competitors

None have money rewards or other incentives!

1. Open Science Framework (OSF): Not-for-profit. Does not have
grants or career opportunities; no revenue model.

2. ResearchGate®: Not an ecosystem. Collaboration only around
papers & manuscripts.

3. Allied Minds®: IP commercialization. No collaboration platform.

4. Facebook®: No scientific tools, services, or security tokens.
Have announced Libra cryptocurrency.

5. GitHub®: Only open source software.

6. IP Group®: IP commercialization. No collaboration platform

Advantages or differentiators

1. Patents pending.
2. Blockchain-enabled end-to-end scientific collaboration ecosystem with free tools, services, grants, lab equipment, preprint server, and manuscript development tool.
3. Rewarding cryptocurrency to researchers.
4. Significant partnership to reach over 8M scientists.

Finance

U.S. Year 1 Year 2 Year 3 Year 4 Year 5

CAC $923 $566 $390 $225 $226

EBITDA $7.6M $20M $51.5M $80M $100.2M

Business model

The first business model to be pursued is "cherry-picking" advanced IP and monetizing it by packaging it and selling it to companies and governments. A proof of this was done for $1.8M. This model is similar to Red Hat's model with Linux.

The second revenue model is selling STEM recruitment dashboards to recruiters seeking professional and student researchers.

Money will be spent on

Platform development: $119,350.
Legal: $4,200
Accounting: $4,200
Marketing: $43,000
Operations: $76,800

Offer for investor

For $250,000 the Company will provide an interest-bearing preferred convertible promissory note with a kicker warrant.

Team or Management

Risks

1. Not properly funded.
2. A competitor steps in.
3. Developing cryptocurrency regulations.
4. The Platform becomes unstable, insecure, or unscalable.

Incubation/Acceleration programs accomplishment

n/a

Won the competition and other awards

Winner of ANGELIS VOX pitch competition 2019 in Moscow, RU.

Selectee to pitch at SXSW 2019.

Invention/Patent

US-2018-0165720A1: METHODS AND SYSTEMS FOR CONNECTING INNOVATORS TO RESEARCHERS AND MONEY SOURCES TO FACILITATE THE DEVELOPMENT OF SCIENCE.

US-2019-0080369-A1: SYSTEMS AND METHODS FOR PROVIDING A DECENTRALIZED PLATFORM FOR CONNECTING MEMBERS OF AN OPEN-SCIENCE COMMUNITY.

US 8,354,267 B2: MICROBIAL FUEL CELL

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