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Next-Gen Biomedical Device for Remote Health Monitoring

The project aims to develop an innovative device for remote health monitoring, utilizing cutting-edge technology to address the growing need for personalized healthcare solutions. The proposed solution will revolutionize the healthcare industry by providing real-time data insights for individuals and healthcare providers, ultimately improving patient outcomes and reducing healthcare costs. The project involves advanced sensor technology and data analytics to deliver accurate and reliable health information, ensuring efficient and timely interventions. The team has identified a significant market demand for such a device and is confident in its ability to disrupt the current market landscape. With a robust business model that includes scalable manufacturing and strategic partnerships, this project has the potential to make a lasting impact in the healthcare sector.

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Next-Gen Biomedical Device for Remote Health Monitoring

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  1. <Title of Project> Include Tagline (optional) • Name of Applicant / Start-up: • Founder #1 • Founder #2 • Founder # 3 • Institute (for individual applicants)

  2. Problem statement • The Problem • What is the problem/need that people are willing to pay to solve over existing solutions? • The Market • Who are the potential customer(s)? • What is the estimated total, seviceable and addressable market size?

  3. The POC Project • Technology Involved • Summarise the key technology involved. Use pictures / diagrams if necessary. Delivered in simple, easy-to-understand terms • Show that the idea works in the lab (prepare data in annex slides, to be used only if asked) • Deliverables • Convey clearly what are the deliverables from the POC • Challenges and assumptions • Communicate key challenges and assumptions to your proposed solution effectively.

  4. Competitor Analysis • Please provide candidly background of the work with respect to others in the field, with respect to current patents and so forth.  Must be clearly disclosed so that the novelty of the work can be assessed. How far along are competing approaches, how close are they to adoption etc. Is there any patents that might be a problem to your company? • Provide an assessment of the superiority of your solution/team compared to existing competitors. How will the product / service disrupt existing competitors • Defensibility • IP situation, e.g. who owns the patent? • Any other barriers to entry?

  5. Business Model • What is your go to market strategy? What is your exit plan? Will a company be incorporated? If so, how is the company going to generate revenue? • Can the product be manufactured easily? Where will the product be manufactured? • Is the business model internationally scalable? • Who are the powerful others that would be invested in your success? Can you partner with them? Who have you talked to? What did they say?

  6. Project Funding & Milestones Insert standard template extracted from application form • Key Milestones(organize them into natural groups, please also identify the type of person that would be responsible for each of those groupings and when you would need to bring them on board, in particular the University Enterprise Office. Make a simple list of how many people and when they will join) • After 3 months: …. • After 6 months: …. • After 9 months: …. • End point: ……..

  7. Summary POC Grant $xxx,000 over 12 months Problem • What is the problem that people are willing to pay to solve? • Who are the potential customers and the size of the addressable market? Proposed Solution and value proposition • Describe the solution, with a summary of technology involved • Describe key challenges, and how they could be solved • Describe the key deliverables • IP Situation, Cite patents pending / applied if appropriate, and general defensibility of your technology • Who are the competitors, and describe your competitive advantage, value proposition etc Business Model • What is your go to market strategy? What is the revenue model? • How is the University Enterprise Office and industry going to be involved in your project? FINALLY, IN ONE SENTENCE, HOW WOULD YOU DEFINE SUCCESS AT THE END OF YOUR POC PROJECT?

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