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PHYSICAL SPRINGBOARD® - MedTech startup combines usability, a connected device, and AI to deliver affordable EEG diagnostics-as-a-service

  • 02 Mar 2023
  • 14:00 - 17:00
  • Vækstfonden, kl 14:00 til 17:00 pa Strandvejen 104, 2900 Hellerup
  • 18

Registration

  • Signup deadline: 23. februar 2023
  • Signup deadline: 23. februar 2023
Registration is closed


Introduction to SPRINGBOARD®

The company is a Danish startup developing an affordable, smartphone-connected EEG device that enables neurological-diagnostics-as-a-service aimed at the 4+ Billion people globally who lack consistent and affordable access to neurological care. This lack of access leads to millions of people going without diagnosis and treatment for conditions like Epilepsy. This disparity can be addressed with the tools of the 21st century - smartphones, connectivity, AI and automation - and represents an opportunity.


Questions for sparring

For this SPRINGBOARD®, panelists are sought who can provide sparring in the following areas:

    1. 1. In relation to fundraising investors would like to see revenues. With a medical device, sales are not possible pre-approval. With the current environment (MDR, NoBo shortage) regulatory approval might be far away. What other KPIs can show traction and convince investors? (Ideas: Clinical testing, sales for research use, LOIs)

    3. 2. Our current first market is emerging markets. There are several reasons for this, one is that demand for a low cost, easy to use device is high. In Europe (and US) market dynamics are different and time to market, even after approval, is much longer. However, on a longer perspective we would like a European business case. Should we pursue this? If so, how do we, as a startup with limited resources, build/present a convincing European business case.


        Industry: Medtech

        Development stage: Proof of Concept

        Region: Copenhagen

        Competencies required:

        • Business Development
        • Financing, Funding & Raising Capital
        • Strategy and growth plans
        • Business Models


        This SPRINGBOARD® will be held in Danish

        Introduction

        The company is creating an Electroencephalogram (EEG) device which is easy to use, and telemedicine optimized in order to offer EEG as a service around the world. The value proposition is that medical facilities can adopt the solution at low or no up-front cost, use existing nursing staff for data collection after a short training, and pay per-test, allowing them to expand their diagnostic offering and earn revenue without additional cost.

        The idea of an affordable, portable, connected EEG device has matured rapidly since the company was founded in 2019. A small but dedicated team has validated the concept in trials in Guinea and Bhutan, tested prototypes at Filadelfia Epilepsy Hospital in Denmark and at Harvard Medical School and has a large study planned at Aga Khan University Hospital Nairobi. The company has a significant sales pipeline of over 100 facilities in 5 countries.


        The team

        The founding team consists of a leading Danish AI researcher, a Harvard professor in neurology and global health, and experienced data scientists and engineers.


        Funding

        Funding has been secured through investors and European grants for the final development and approval of the device (expected Q3 2024). The company has been awarded a 1M EUR Eurostars grant (2020), raised 500k EUR in seed capital (2021), and secured 2M EUR in non-dilutive funding from the European Innovation Council via the Accelerator Award (2022).


        CONNECT Denmark — Bryghuspladsen 8, 3. sal, 1473 København K — Telefon: +45 27 28 17 86 — E-mail: connect@connectdenmark.com — Sociale platforme:
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