Smart PillBox is an electronic pills dispenser that automatically delivers the pills to the users. Our target audience is elderly for medical use. It reminds the patient and dispenses the right medicine into the container, and the patient simply needs to take the pill. It helps the elderly to follow a medication regimen that would be easier than ever. One of the research indicated that it brings severe consequences when the elderly do not follow the correct medication regimen. Salzman (1995) mentioned the extent of noncompliance in the elderly varies, ranging from 40 to the most 75 percent. Forgetting to take medicine is the most common reason it is because some elderly have suffered from dementia, and there was over 25 percent of old people take at least 3 drugs. Thus, that needs an effective tool to help the elderly tackle these problems.

Smart PillBox has the most 8 containers that connect a pipeline, delivering all pills into one exit on a regular time. Unlike traditional pillboxes and bottles, these devices are built to hold a larger capacity of medication which reduces the frequency of refills. After that, the box uses a red light and a sound clock to notify the users taking the pills. It also has a software system that allows all data effectively transmit to the doctors and monitor whether the patients follow the medication instruction.

Additionally, Smart PillBox can be also connected to third parties such as parents, and caregivers who can check on medication compliance. The PillBox app can be downloaded on mobile phones for different users. The users can adjust the time of taking medicine. And the notification of a red light and sound clock will keep ringing every 10 minutes if the patients do not still take the medicine. 30 minutes later, the doctor and their parents will receive the notification that they can know their elderly do not take the pills.

We will do the prototype test for the volunteers who will try whether the Smart Pillbox works for them. In the supply chain, we are going to propose this product for hospitals as a first priority and provide it to the patients. It can make this product more persuasive and reliable. When it becomes more substantial uses, we would like to expand our market share, for instance, Smart PiilBox would be sold in medical or retail stores such as Mannings, and Watsons.

Most importantly, our revenue stream is predominately derived from the sales of the product. And, we would like to promote it on TV or other social media platforms as an advertisement to seize substantial market shares.

Can you portray a Capital Expenditure to start a new business based on the business idea above, thank you very much!