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Funding Plan
Funding Plan - DOC Format
STATag Funding Plan
The funding for a small startup company is arguably the one of
most important aspect of planning. To that end, the STATag team
will be submitting an SBIR Grant proposal for the Phases I and Phases
II of product development. We will be submitting our application
for SBIR to (insert government agency here) in order to establish
our development on sound financial footing. Our SBIR application
requests approximately $100,000 for Phase I development. Phase I
will last approximately 4 months and our team will be primarily
focused on the development of our prototype. We are additionally
requesting $750,000 for Phase 2 of our project. During phase 2 our
team will develop a real-world version of the STATag system and
we plan to implement the Real Time Equipment Tracking in a test
hospital.
Following phase 1 and 2 we anticipate receiving funding from Federal
Small Business Administration backed loan and sales revenue from
completed STATag systems. These funding sources will provide the
funds for phase 3, our production ramp-up phase. We will require
$200,000 start-up capital from a funding organization before the
beginning of phase 3. During phase 3 our goal will be to repay the
loan, build a customer base, and increase sales to approximately
20 hospitals a month. Following phase 3 we anticipate being a financially
self-sufficient company turning an estimated profit of $75,000,000
at the end of that phase. At that time we expect to expand into
additional inventory tracking markets.
We are anticipating, at this time, to proceed from SBIR Grant money
to becoming a self-sufficient company. However, the possibility
of being either acquired or invested in by a larger company is a
distinct possibility our team is receptive to. Possible companies
that would take a financial interest in the STATag and the Real
Time Equipment Tracking technology include medical supply companies,
medical equipment manufacturers, and current inventory tracking
solution providers. The STATag is, in our opinion, a very viable
product and a sound investment.
As our financial plan currently stands we anticipate being able
to develop the STATag in the financial and time constraints previously
stated. We believe that this will be a viable product that will
revolutionize inventory tracking in not only the medical equipment
market but in any market for which it is introduced. The following
are the budgets for phases I to III.
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