Dear The last month has been a time for change for our ventures and the Speedbooting core team. See the overview of this newsletter below:
A temporary change of office settings
Kicking off Virtual Dispensary venture
Next steps for personalised supplements
We’re looking for Co-Founders for our energy project
Neurofeedback
Enjoy!
In the beginning of February we moved our office in Ragnagade down to Hurghada in Egypt for the following 2 weeks. This wasn’t done just because the teams blood tests from Get Glo all showed Vitamin D deficiencies, but most importantly for creating the right environment for innovation and contemplation in our existing and upcoming ventures. See a short video interview with Mads below talking about the work trip, our vision and our company culture here at KRING:
The two weeks were a success both for our team to be able to work more efficiently together and also for making the right decisions for our ventures which you can read about in the next sections. If you’re interested in learning more about “workcation” you are more than welcome to write back to hear more about how and why!
We currently have a healthcare system that focuses on symptoms instead of the root causes. With a standpoint in functional medicine, we are determined to shift the main focus towards the root causes instead of the symptoms. This means focusing on the diet, sleep, exercise and supplements etc. in order to achieve good health or be proactive towards it. Functional practitioners often do blood tests, microbiome tests and others to find the imbalances in the system, which can bring the body back to balance or to an optimal state through restoration. We find this area super intriguing and something we want to contribute to. How we will do it As the first step, we want to help the functional medicine practitioners with supplying their patients with the right quality supplements at a lower price and a more convenient way. Supplements and the right diet is a big part of the interventions and today the quality of supplements is very low and the market is not very transparent. It is also a problem when patients have to order from several different supplement producers, to get what they need. Therefore, we want to start by providing a service to source the right supplements to the patients in collaboration with the practitioners. This is just the start and there is much more in it than this short description. Later we want to help practitioners track and improve their protocols (through one of our times favorite buzzwords: AI 🤖). Status We've mapped out competitors (we are heavily inspired by an American player who have not entered Europe but that provide validation for the business model), talked with the first practitioners and contacted the first suppliers. Furthermore, we secured a 3-month trial contract with our first Co-Founder who has a management consulting background in supply chain management. He is going to start on the 1st of April. Next steps We will continue talking with more practitioners so we know which functions our MVP should have and so we already will have the first customers ready for launch. We’ve started getting prices from the suppliers and looking into supplement regulations for reselling in Denmark. If you know anyone with expertise within this field, please reach out to Mads at mmf@kring.com We have planned two other Co-Founder interviews for this project, but we’re still looking for more - see which below and please reach out if you know someone we should contact:
Co-Founders we are looking for
A potential CEO who's good with sales ...that will establish and manage collaborations with the health practitioners and suppliers and grow the business internationally.
A Law Genious ...that can aid us in figuring out the country-specific regulations for supplements delivery within and outside of the EU.
If you know someone who could be an interesting profile, please write Mads at mmf@kring.com or forward them this email via the bottom below.
We’ve had our first customers through Get Glo successfully, and we’re right now processing the second batch of blood tests. Our first customer has already agreed to purchase our add-on service with food and supplement subscription. We are in the early steps for validation of the concept, however, the price point is still too high to attract a big enough market. Next steps Because of the current price we are no longer focusing actively on onboarding more customers but instead on finding the right technology that can drive down the cost and make it more convenient. We are in touch with a company called Tasso who might have the solution we’re looking for to be able to make a comprehensive blood analysis at a lower price and a more convenient way for our market. First customer report A part of the product is a report with the results from the blood tests together with nutritional and supplemental recommendations from our expert. Our first customer received the report a couple of weeks ago after we received the blood test. You can see an example of a report by clicking the button below to get an insight into what the service consists of:
Download customer report example
Our contribution to saving the planet goes through clean energy and improved energy efficiency in our homes. The goal The SDG7 goal is to "Ensure access to affordable, reliable, sustainable and modern energy for all" and it has among other targets, two for us particularly interesting sub-targets: 7.2: By 2030, the share of renewable energy in the global energy mix must be significantly increased. 7.3: By 2030, the global rate of improvement of energy efficiency must be doubled. Therefore, the Danish government has just adopted a new climate law, including a very ambitious goal of a 70% reduction in CO2 emissions. We expect that the government will come up with several new initiatives (legislation, funding, subsidy, support, tax incentives, etc.) to ensure the achievement of the ambition. The opportunity Approximately 40% of the total energy consumption in Denmark is spent on keeping buildings heated. Meanwhile, many hundreds of thousands of Danish private houses have poor energy efficiency – even if only a small number of their owners believe that their own house is one of them. There are also several hundreds of thousands of oil burners and natural gas furnaces in operations today, while heat pumps (air and soil), biomass and solar cells are gaining momentum fast. The potential market for changing heating installations and improving energy efficiency in private homes – in Denmark alone – is probably much more than 150 bill. DKK – and most importantly – several million tons of CO2 reduction. Our partnership We have partnered with one of the largest Nordic corporates to solve this challenge – a corporate with a huge market reach and a trusted brand. This corporate also provides deep knowledge in parts of the total problem, huge distribution potential and great people to the team. Together we’ve been through market discovery and initial Think Big activities and are now identifying several concept ideas, that we will spend the coming months validating and bringing to market. The target is to launch a new venture around Summertime.
Co-Founders we are looking for
We are looking for a co-founder to join our energy team of 5 people, who has a big interest in climate and energy – and preferably some knowledge of the market for energy and heating installations - and building insulation. We are also looking deep into energy certificates for homes as well as energy advisory services. You will, however, have to speak fluent Danish, as our initial focus will be on the Danish market – working with both Danish and Global partners
If you know someone who could be an interesting profile, please send a mail to Jacob Madsen on jam@kring.com or refer this email to your contact via the text link below.
At the beginning of February we did a compressed 3-day Neurofeedback course over the weekend to get important insights into the technology (it works!) and the challenges the practitioners are facing.
We’ve had a dialogue with one of the leading schools about building a feedback app for them, so the practitioners can track symptoms and provide the optimal protocol. That dialogue, however, stalled a bit after getting deeper into a deal for building it. Building it with this school would be key for providing an “unfair advantage” into the industry. We are therefore giving them some time to come back to us before we put additional time into the project.
We hope you enjoyed the insights! Make sure you follow us on LinkedIn, Facebook and Twitter to read more about our other Speedboats and news in our office and network. Have a great week!
KRING