Vision and value proposition:
Save your avocados for perfect consumption by controlling the avocado ripening schedule.
How often when we get a pack of avocados from a store like Costco, the avocados either are not ready for consumption, or they all ripen too quickly at once? Restaurants or small juice shops that use avocados as the main ingredients are also struggling to keep avocados in an optimal condition. Avocados that are not kept properly will have to be thrown away. This means that money is lost for customers and restaurant owners, not to mention food waste for such a nutritious, great fruit. Some may comment that you could freeze avocados. Some may say that you could ripen avocados by storing them in a paper bag along with fruit like a banana. These comments are all valid. However, frozen avocados will lose flavor and taste. Also, one cannot predict a precise timing for consumption when placing an avocado in a paper bag. Often, the avocado ends up in a trash can because people forget about the avocado once hidden in a paper bag.
Target market and opportunity:
As more people become more health-conscious, more people look for healthy food like avocados to maintain a healthy lifestyle. According to an article in “Global Market Study on Avocados” , the global avocado market is projected to grow at CAGR of 6.2%. As indicated by statistics in “Avocado Production” in Wikipedia , the estimated total world production for avocados in 2018 was 6.4 metric tonnes. There are approximately 2.5 avocados per kilogram. This is equivalent to an estimated total of 16 billion avocados world production in 2018. With GAGR of 6.2%, by the end of 2020, we should have at least 18 billion avocados produced.
Please note that current plan is to target avocado market, but the tool and solution could be adopted to support other fruit.
Customers will be able to use our AI Avocado app to see how long it will take for an avocado to ripen. The customer can use the AI Avocado app to take the image, and based on the variety of the avocado, the color and appearance of the avocado, the app can estimate the ripening time. The app can also provide a reminder when the avocado is ready to be consumed once the estimate of ripening time has been recorded. Customers can then use our ripening device to prolong or shorten the ripening time. As shown in the image, there are four BINs in the device. Each BIN can store up to 3 avocados. The app can communicate with the ripening device and send the user request to the device. For example, it can send a request to control avocados in which BIN you want to shorten or prolong the ripening time. The device will then adjust each BIN temperature in the device, monitor, and send the confirmation back to the app.
The team consists of members with various high tech, biotech, software engineer, project management, and IT management experiences.
There is currently no comparable product in the market.
- Global Market Study on Avocados: Retrieved from https://www.persistencemarketresearch.com/.
- Avocado Production Retrieved from https://en.wikipedia.org/wiki/: https://en.wikipedia.org/wiki/List_of_countries_by_avocado_production