6. Financial Plan (Forecast)
Last updated
Last updated
AI Checkup's financial plan is designed with a long-term and sustainable approach, prioritizing the mission of improving healthcare access for the world’s impoverished. Revenue generation is being carefully considered, taking into account the economic burdens of our target users. The current revenue model focuses on fundraising, grants, and corporate partnerships.
Currently, the revenue model for this project, which targets the impoverished, focuses on fundraising, grants, and corporate partnerships, and is under careful consideration.
6.1.1. Donation Model
Solicit donations from foundations, international organizations, corporations, and individuals.
Establish donation pages on the website and app to accept donations through credit cards and various payment services.
Ensure transparency by providing regular reports to donors.
Solicit specific donations: Seek donations for specific projects or regions (e.g., costs for language support in specific regions, costs for specific disease prevention measures).
6.1.2. Grant Model
Apply for grants from government agencies, international organizations (WHO, World Bank, etc.), and research institutions as a project contributing to public health improvement and addressing healthcare disparities.
Clearly define the use of grants and provide regular reports.
Measure the effectiveness of grants and demonstrate their impact.
6.1.3. Corporate Partnerships
Collaborate with pharmaceutical companies, medical device manufacturers, telecommunications companies, and technology companies to receive funding and resources through joint research, technological cooperation, and promotional support.
Seek support for AI Checkup as part of corporate social responsibility (CSR) activities.
Carefully consider the placement of advertisements to avoid hindering user experience.
Carefully consider the placement of affiliate sales of supplements and pharmaceuticals or coupons, as they may hinder healthcare access for the impoverished or encourage inappropriate purchases.
6.1.4. Providing Anonymized Data (Future Possibility)
In the future, consider providing anonymized and de-identified usage data to research institutions, international organizations, and corporations for a fee.
Reinvest revenue from data sales into AI Checkup operations and research and development.
Data provision will be limited to purposes that contribute to improving public health, subject to strict ethical review.
6.1.5. Paid Premium Features (Future Option)
While continuing to provide all basic features for free, consider offering more advanced features (e.g., online consultations with medical specialists, advanced health reports, integration with wearable devices) for a fee in the future.
The introduction of paid features will be carefully considered based on user research and market trends.
Consider providing benefits to free users, such as allocating a portion of the revenue to supporting the impoverished.
The primary costs associated with AI Checkup are as follows:
App Development and Maintenance Costs: Costs for developing and improving AI algorithms, server expenses, database maintenance, and development of new features.
Marketing Costs: Costs for user acquisition through online and offline advertising, collaboration with international organizations and NGOs, and incentives for referral programs.
Personnel Costs: Salaries for management, engineers, data scientists, medical professionals, customer support, marketing, and localization staff.
Localization Costs: Costs for translation into various languages, cultural adaptation, and local research.
Partnership-Related Costs: Costs associated with establishing contracts with partners, negotiations, and managing joint projects.
Other Costs: Office rent, communication costs, legal and accounting fees, insurance premiums, etc.
To secure the necessary funds for the initial development and operation of AI Checkup, we have the following fundraising plan:
Seed Round: Aiming to raise US$5 million in the third quarter of 2024. The primary use of funds will be for developing the core AI diagnostic engine, supporting major languages, implementing key features, beta-releasing in pilot regions (e.g., specific regions in South Asia and Africa), and building partnerships. We anticipate raising funds primarily from impact investment funds and socially conscious angel investors.
Series A: Aiming to raise US$20 million in the fourth quarter of 2025. The primary use of funds will be for full-scale operations in pilot regions, improvements based on user feedback, adding supported languages, expanding partnerships, building a data analysis infrastructure, and strengthening marketing. We anticipate raising funds primarily from social impact investment funds, international organizations, and foundations.
Subsequent fundraising will be considered based on the progress of the business.
At this stage, we are carefully considering revenue generation and therefore will not provide detailed revenue forecasts. The following are set as target goals for user numbers and key performance indicators:
User Numbers:
Year 1: 1 million
Year 2: 5 million
Year 3: 20 million
Year 4: 50 million
Year 5: 100 million
Key Performance Indicators:
MAU (Monthly Active Users): Measures the effectiveness of user acquisition and retention efforts.
DAU (Daily Active Users): Measures user engagement.
Retention Rate: Measures user retention.
User Satisfaction: Measures user satisfaction with the app's usability and the quality of the information provided.
Questionnaire Completion Rate: Measures the rate at which users successfully complete questionnaires, which is used to improve UI/UX.
Referral Rate to Medical Institutions: Measures the rate at which users with serious or urgent symptoms are referred to medical institutions and actually seek medical attention, which is used to improve the app and strengthen partnerships with medical institutions.
Number of Partnering Organizations: Measures the expansion of the business.
Number of Supported Languages: Measures the service coverage.
Average Usage Time: Measures the length of time users use the app, which can be used to infer user satisfaction and engagement.
These KPIs will be reviewed as targets and adjusted according to progress.
