Prediabetes, the first step to developing type 2 diabetes, affects more than 1 in 3 people worldwide, so we're building our core product, Minimol, to reverse prediabetes. Left to their own devices, the vast majority of those with prediabetics will become diabetic within 10 years. There’s also a significant rise in prevalence of prediabetes among adolescents and young adults. This is an unfortunately massive, growing market. We know that there’s been a 60% increase in the economic cost of diabetes in the past 10 years, that $20 Billion is spent yearly by businesses in the U.S. on insurance and lost time due to diabetes, and that $90 B is lost yearly due to work-related absenteeism, reduced productivity, disability, and chronic illness. There would be 2 million more people in the U.S. workforce if diabetes didn’t exist. We’re working to U.N. Sustainable Development Goal 3.4, with a massive market size and a clear path to market.
Minimol reverses pre-diabetes using well proven, personalized, self-adapting and achievable techniques to foster incremental progress that prevents discouragement and ensures success. We've built an initial slow drip education product, Meli, to provide access to the National Diabetes Prevention Program through SMS to people in rural and remote areas. This is also a way for us to test our messaging and measure interest. Minimol is being built, and we have a first MVP created. We're in the process of preparing to file our two provisional patents to protect the proprietary pieces of our solution. We've signed our first paid pilot ($250,000 for 250 users, in rural Canada), and we're building relationships with potential customers and partners, including a research partnership with the University of Essex in the UK.
We have the right team solving the right problem:
- Mandy Woodland, Founder & CEO - 3rd generation type 2 diabetic, former medical researcher and data privacy lawyer
- Andrew Murphy, engineer & experienced product designer, and type 2 diabetic
- Dr. Michael Vallis - award winning clinical psychologist with 35 years of experience in behaviour change in diabetes and obesity
- Dr. Nicholas Nadeau - fractional CTO
- Carol Bartlett - Senior level exec with experience managing $200M+ annual sales
- Jonathan Zaremski - key advisor
- Brett Frazee - fractional CFO
- + a team of key advisors and fractional help
Our massive vision is to help tens of millions of people prevent diabetes in less than 10 years. We’re working towards U.N. Sustainable Development Goal (SDG) 3.4, to lower the burden of non-communicable chronic disease, and build a company where people are valued and want to come to work - SDG 5.5 to ensure women's full and effective participation and equal opportunities for leadership at all levels of decision making, and SDG 8.5 to achieve full and productive employment and decent work for all women and men, including for young people and persons with disabilities, and equal pay for work of equal value.
Over the next 12 months we will:
- File our provisional patents
- Continue to validate the problem we’re solving, and our solution
- Complete our Behaviour Change Experience Profile module, and bring it to market
- Raise a pre-seed round
- Begin to generate revenue, reaching markets in the U.S., UK and Canada to reach our first $1M in revenue
- Move quickly to solve big problems and help people prevent diabetes and its complications!
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