Goodwiller Oy is a start-up company in the well-being sector, and it was established in Oulu in 2013. The company specialises in consumer-targeted quick tests, which have been implemented with smart paper technology – products and services related to well-being. We see good business opportunities in the well-being segment and particular potential in new innovations that are of benefit to consumers.
As our first product innovation, we began to develop a consumer-targeted solution to the question, why there is no easy and reliable way to check your own driving capacity. In 2017, we launched a solution in response to this issue by offering the Promilless alcohol test, which measures blood alcohol content levels from saliva. The test strip, which is based on a patented innovation, clearly and simply indicates to the user, if his/her blood alcohol content exceeds the indication limit defined for the test.
We carry out the production of biochemical inks to be printed on smart paper and the relevant printing work at our own laboratory and production facilities in Oulu. Goodwiller Oy has the right to use the Key Flag Symbol and the Design from Finland symbol in its product.
During the product development work, we have closely cooperated with VTT. In the future, we shall use the technological skills we have so far accumulated for further developing the promilless product for new customer segments as well as for expanding our product portfolio to new well-being-related quick tests. Printed intelligence technology enables a scalable and cost-effective manufacturing method for various platforms and products.
Indicators related to human well-being can be used to measure electrical signals (pulse), as well as e.g. saliva and sweat. These samples can be used to clarify factors concerning the human body, which is not possible electronically.
Humans’ increased awareness and user readiness is also visible in the expanding selection of self-diagnostics products intended for consumers and the formation of the new so-called consumer diagnostics category. The trend is currently visible in the USA in particular, where consumers are significantly more experienced in the independent monitoring of well-being due to a different health care system. We also anticipate that the same trend will expand to Europe in the future.
A significant trend promoting the business operations of our company is the increase in the responsible use of alcohol. The social atmosphere and legislators’ actions against the disadvantages of alcohol and drunk driving are becoming more strict in many countries. These actions aim to improve road safety, this is visible e.g. in the alcohol limits while driving is gradually becoming more strict. In Finland, the alcohol limit for drinking while driving is currently 0.5 per mil, but in Sweden and Norway this limit is already at 0.2 per mil. In addition, many European countries apply extremely low, even 0.0 per mil, limits for young drivers and special groups (e.g. professional drivers). The trend of responsibility campaigns will bring about interesting and new business opportunities.
Our company offers investors an interesting investment opportunity.
The Promilless product we have developed is already commercially ready and it has been on the market since early 2017. The delivery quantities have already exceeded 200,000 pieces and the consumer feedback has been encouraging. Indications of the product’s international potential have increased during the past year of 2018. We consider ourselves ready to move to the next stage of our business development, which aims for the significant scaling of sales and production in both Finland and nearby markets.
We operate in a very interesting and growing consumer diagnostics market, which overall offers significant growth opportunities for innovative and new products. Strong consumer trends concerning well-being and so-called self-measurements support our vision on the formation of a new product category and related growth opportunities. In addition, particularly the growth potential of the Promilless product supports consumers’ increased responsibility in traffic and in the use of alcohol.
The company has its own IPR related to smart paper technology as well as strong technological expertise, which can be utilised in the future in the development of new products. We estimate that in addition to the development of our own products, production technology related expertise can possibly be utilised by e.g. licensing production methods.
Our core team, board and advisors have extensive practical experience in the sales and marketing of consumer products. Our core team and board have proven to be able to create new international business, commercialise new innovations and increase the value of their target companies.