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Vulcan Augmetics is a startup project that creates a prosthetic, easily removable, and fully functional prosthetic module for users to use in daily life at an extremely affordable price. Currently, Vulcan proud to be in the partner of Harvard Bussiness School and run The UpLift Vulcan Augmetics Project entered the stage of electrical hand installation and skills training for people with disabilities in Ho Chi Minh City area. Vulcan also has teamed up with RMIT University to complete the main arm and the hand part dedicated to service work (servicing module). The founding team of Vulcan Augmetics expect that the start-up limb module will help about 38 million people with disabilities in the world have access to any job they want.
The purpose of this project is not only to help people with disabilities be supported in mobilizing, returning to the workforce, becoming independent and contributing to society, but also changing the perception of society and people with disabilities. self-potential disability. Vietnam currently has about 8 million people with disabilities aged 5 and over, of which, 40% are unemployed. The limited disability access to the labor market makes it difficult for them and their families Meanwhile, our country has the technology, has good engineers but lacks projects to help the disabled regain their ability to work. With that in mind, Vulcan Augmetics Enterprise has developed a project to produce cheap prosthetic modules, helping to revitalize the lives of people with disabilities. Vulcan believes that everyone has their own potential to help them create values and positive impact not only for themselves but also for the surrounding community. So do the disabled. They have the potential to make a difference. They just haven’t had access to ways that can help them awaken that potential.
Vulcan Augmetics’ products are equipped with sensors that enable people with disabilities to perform grip operations. Users can master the operation within 2 weeks. In particular, Vulcan Augmetics uses 3D printing solutions to easily replicate and lower production costs. The price of the product is currently only about 1/5 of the products with similar functions.
The biggest difference in Vulcan Augmetics’s prosthetic arms is the flexibility in product design, including specially designed joints that connect to the removable modules for each specific job. Vulcan Augmetics does not create complete arms, but instead this startup creates a part of the main arm that does not change and the removable parts can be removable into the main part, depending on the user’s needs. Thanks to that, this startup always keeps its products affordable even for those on a tight budget.
In addition, Vulcan also cooperates with The Coffee House coffee chain to make a specific plan for job skills training for disabled candidates. The training process includes the main steps of screening and interviewing, installing prosthetic hands, training job skills, becoming a full-time employee, responding and improving the product. “Disabled students and business partners always receive support from Vulcan during the use of prosthetic and working hands. All contributions will be acknowledged to continue to improve the existing Servicing Module product and other modules in the future, ”shared the startup representative.
II. BUSINESS OPERATION:
1. MARKET DEMAND:
There are about 38 million people with disabilities in the world (without artificial limbs). In Vietnam, there are more than 200,000 such people with disabilities and every year thousands of people lose their organs due to traffic accidents and labor accidents. Meanwhile, only 30% of people with disabilities in Vietnam have jobs.
Realizing that millions of people with disabilities face many disadvantages in life such as hard to find jobs, unable to support themselves … while the price of expensive prosthetic limbs, about 5,000 – 100,000 USD, Khanh Ha – the CEO ođ Vulcan made the decision to establish Vulcan Augmetics and manufacture of prosthetic hand modules for the disabled.
Founded in July 2018, Vulcan Augmetics is the only startup from Southeast Asia and one of two representatives from developing countries. In terms of business model, Vulcan Augmetics is the only startup operating in the field of hardware technology and serving the disabled community.
In early April 2019, Vulcan Augmetics launched a crowdfunding campaign installing free electric hands, creating jobs for people with disabilities by the UpLift Project with the participation of The Coffee House coffee chain.
In May 2019, Vulcan Augmetics will be the first startup representing Vietnam to participate in The Venture international competition held in the Netherlands, with the opportunity to win a total prize of $ 1 million.
In addition to activities supporting people with disabilities and carrying out social responsibilities, Vulcan Augmetics will focus on selling basic modules through clinics. This is the main channel in the first year, accounting for at least 50% of manufactured products. Users can buy replacement parts and upgrade products online, choose delivery methods at home…
According to the plan, Vulcan Augmetics will bring products to people with disabilities through 4 main channels
- Private rehabilitation and orthopedic clinics;
- Online platforms, personal sales;
- Non-profit organizations with a number of disability support programs
- Cooperate with businesses in implementing social responsibilities.
“In the immediate future, the Company’s revenue will come from direct sales. In the long run, the value of Vulcan’s digitalization of assets, copyrights, data from sensors and equipment bodies will be the stepping stone for further technologies such as industrial suits or AR technology. technology that integrates computer graphics and the Internet with the real world so that virtual objects can be viewed in real environment)… ”, Khanh Ha – CEO Vulcan Accumetrics shared about the long-term plan and expressed his pride about the experienced management team as well as the good engineers of Vulcan Augmetics.
Regarding the next plan, Vulcan will attract more investors to participate in the company’s mission and vision and help more than 30 million people with disabilities become more independent and confident.
In 2018, After the recruitment, screening, grading process, the board of judges of the Blue Venture Award Community Entrepreneur Award selected Vulcan is one of top 10 excellent startup projects. Top 10 projects will be trained, trained by the program’s advisors and continue to compete for the Award to select the top 5 finalists.The winner of this Award will become the representative of Vietnam, entering the global finals of The Venture held in May 2019 in Europe to win the $ 1 million prize. In Vietnam, Blue Venture Award is organized by Pernod Ricard Vietnam and TV Hub Company, under the framework of the Global Community Entrepreneur Award, founded and organized by Chivas Brothers. This competition was first organized in 2014, after 5 years the competition has spread widely to more than 40 countries. In the first 3 years, the competition attracted more than 6,000 entries, 73 projects reached the final round of The Venture Global and $ 4 million was poured in to support startups.
Going to the Community Entrepreneur Award – Blue Venture Award Season 1 and winning the first prize to become the first startup in Vietnam and the only representative of Southeast Asia to attend the final round of The Venture 2019 , the representative team of Vulcan Augmetics – the company that provides prosthetic modules for people with disabilities, still cannot believe the contest gives its community business so much value. It is an opportunity to connect with the startup community from many parts of the world; is a lesson learned, skills from a team of advisors with many years of “fighting” on the market …
Sharing after winning, Khanh Ha – CEO of Vulcan said: “Currently Vulcan is in the final stage of finalizing the product. It is difficult for a social enterprise like Vulcan to raise enough capital. This victory helps me spread the information of this project to many people, investors as well as go to the international arena to attract investment capital. From there, Vulcan can complete the production line and distribute the product to the market so that I can immediately help the defects become more independent and confident. ”