Lumin, a social business started by Blocks Global P/L in 2015, aims to improve the lives and health of people experiencing isolation. Lumin is a smart technology-based communication and safety platform that connects, engages and organises our ageing population and those living with a disability.
Based on the financial modelling a $2.5 million investment in Blocks Global will result in the generation of significant EBITDA and cash flow. Over the 5 year period from 2018 through until 2022 the business is forecast to generate combined EBITDA of A$43million plus free cash flow of A$13.5million. These numbers are inclusive of all expenditure and include the expanded operational model. This would be available then for both reinvestment in the business and also provide a source of possible dividend return to investors.
The Blocks Global vision for the Lumin technology is for “Better connected families and an improved quality of life” and the mission is “to improve the lives and health of people experiencing isolation.” Social isolation is a considerable problem. An Australian Bureau of Statistics report shows that people over the age of 65 years with moderate and severe disabilities spend 85% of their waking time alone (Ref: Brotherhood 2007). Socially isolated people experience a 26% increase in mortality compared to those who had meaningful social engagement (Ref: UK 2013). Lumin oﬀers seniors and disabled people a brighter, safer and more connected future and improves the quality of life in their home. Through the use of Lumin, an individual’s connectedness is increased potentially reducing the stress of social isolation and improving or at least maintaining well-being and health of the individual for longer. The aim of Lumin is to: a. Increase socialisation, therefore reducing loneliness, mental health issues and other illnesses linked to stress and associated with isolation b. Improve medication compliance and adherence c. Significantly lower costs associated with the care of aging people due to a reduction in clinical interventions, less support services required and delaying the move to a residential care setting [Hi Care] A Theory of Change has been developed to support the hypothesis and measure the outcomes of Lumin.
- Blocks Global Pty Ltd
- Social Scaffolding
- $2.5 million
- $50,000 although larger lot sizes are preferred
- Sophisticated/Wholesale Investors only
- 5 years
- Community, Disability, Elderly, Health, Technology
- Australia Wide