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EchoCare Technologies

Remote /Non-wearable Elderly Care Home Monitoring System

Israel
Market: Electronics, Artificial Intelligence
Stage of the project: Prototype or product is ready

Date of last change: 15.04.2020
Min investment
$  500.000
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Total required
$ 5.000.000
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Idea

The ECHO system is based on a unique radar that continuously tracks 4 essential body indicators: the person location, posture, motion and respiration followed by machine learning and AI engines that determine whether there is any emergency such as acute fall, respiration distress or other abnormal indication to be alerted. Re COVID19, the system has 2 additional use cases: (1) Remote/Non-Wearable indication of a possible COVID19 Infection for quarantined people. (2) Smart Emergency Room gateway in hospitals - Remote/Non-wearable patient checking before medical staff approaching.

Current Status

The ECHO system is currently on the pre-production phase.

1. It has been certified by the Japanese regulator (TELEK) and support the FCC as well.
2. We run trials in Japan and Israel. Soon we start trials in the US and Australia.
3. The device HW is starting the limited production phase.

EchoCare already have several active partners/customers (mainly in Japan and the US)

Market

The company's target market are the senior living facilities (mainly assisted living, skilled nursing and rehab homes) and Remote home care operators. Our go to market is via various channels: Local distributors, partners, system integrator companies as well as collaborating local companies that already has an installed based solutions

Problem or Opportunity

The existing eldercare solutions are wearable or camera based devices. When it comes to the senior apartment, none of them are acceptable as seniors want to be free of wearing a device for 24/7 or having a privacy intrusive solution.

EchoCare proposes a disruptive solution (non-wearable, and non-intrusive) that can cover the complete apartment with a single device (can "see" through the walls). It's based on a unique RADAR that is followed by AI and machine learning engines .
The device provide vital information to indicate and to potentially prevent an health deterioration.

The senior's family would like to live with a peace of mind while they know there is a "caregiver" that monitors their seniors for 24/7. The senior living facilities, insurance companies and national security may save billion of dollars every year by preventing from seniors getting to an acute situation or by decreasing the risk for e.g. acute falls.

Therefore, the potential EchoCare's customers are willing to pay for saving lives and saving billion of dollars.


The existing eldercare solutions are wearable or camera based devices. When it comes to the senior apartment, none of them are acceptable. as they want to be free of wearing a device for 24/7 or having a privacy intrusive solution.

EchoCare proposes a disruptive solution (non-wearable, and non-intrusive) that can cover the complete apartment with a single device (can "see" through the walls). It's based on a unique RADAR that is followed by AI and machine learning engines .

Solution (product or service)

The ECHO system is based on a unique radar. It transmits a very low power Ultra-Wideband radio signal into the home environment and receives back the reflected signal. The RADAR can distinguish between the human body and the home environment as well as pets.
It continuously tracks four essential body indicators: the person location, posture, motion and respiration followed by classifiers and pattern recognition (AI engines) that determine whether there is any emergency or abnormal situation.
The device also learns the person’s daily activities (Machine Learning) by monitoring his Physical activities, Home usage and the walking profile (Gait) and alerts in case of a significant deviation versus the last period.

The ECHO device is installed at the apartment ceiling and is connected to the ECHO cloud. The ECHO cloud collect the multiple users un-tagged data to learn new (unknown) cases and remotely update the end user devices with the new cases.

Competitors

1. While the direct competitors are non-wearable as EchoCare, the EchoCare solution is based on capturing 4 human body indicators (Location, Posture, Motion and Respiration) in order to make any emergency of abnormal situation detection. The competitors has only 2 what makes the solution with many false alarms or miss-detect.
2. The ECHO system propose more detection cases such as respiration distress as well as drowning in the bathtub
3. The ECHO system propose wide coverage area in the apartment
4. EchoCare has 6 key issued patents.

Advantages or differentiators

EchoCare's "sweet spot" is the elderly home environment (their private area).

Technology wise:
There are various solutions. Most of the solutions are wearable devices. Others are either video camera based solution. However, when it comes to the senior apartment, the seniors are not committed to wear a device for 24/7 and they wouldn't like to have a privacy intrusive solution. EchoCare's solution is a non-wearable solution and non-privacy invasive solution that can cover the complete apartment with a single device (can "see" through the walls).

In addition
1.The EchoCare solution is based on capturing 4 human body indicators (Location, Posture, Motion and Respiration) in order to make any emergency or abnormal situation detection. The direct competitors (with non-wearable approach) have only 2 indicators what makes the solution with many false alarms or miss-detect.
2. The ECHO system proposes more detection cases such as respiration distress and drowning in the bathtub
3. The ECHO system propose wide coverage area in the apartment
4. EchoCare has 6 key issued patents, in the US, related to technology and system.

Service wise
The ECHO device is connected to the EchoCare's cloud that proposes the customers new functions and serves by remote download to the customer's installed device.

The EchoCare's solution has been check in the US, Japan and Israel and the solution was rewarded several times.

Business model

The ECHO product will be sold to our customers via the various channels: local Distributors, collaborating companies (with installed base solutions) or directly to remote care operators or senior homes.
In addition, we charge a service monthly fee per each installed unit for the cloud, SW upgrade and new downloadable functions.
Moreover, the operators will have a web access site dashboard that they can easily setup and control their installed units

The planned ECHO unit ASP is about 500USD and the monthly average service fee is about 15 USD/Mo.

Money will be spent on

The raised money will be used for:

1. Extending the ECHO solution for the COVID19 use cases
2. Volume Production ramp up
3. Initial sales in the US, Japan, Europe and Australia
4. Expanding the company’s Sales and Marketing
5. BizDev expansion - Local reps: US, Europe and Japan

Offer for investor

The company pre-money valuation will be disclose in an advanced stages

Team or Management

Risks

Our technology combines multidisciplinary technologies that leads to a very high barrier to competitors but also risks:
1. Technology risks - The system should be in a very low production price. That requires to optimize the algorithms and using low BOM and production cost
2. Financing - as we develop both HW and SW it leads to a very high operational expenditures. We develop the system in several phases, in order to reduce the risk from phase to phase.

Incubation/Acceleration programs accomplishment

EchoCare founded as part of the Israeli Incubation program (IIA).
The company founded in January 2015.
The incubator name is: Incubit technologies ventures. located in Beer-Sheva ISRAEL.
The company was under the incubator for 2.5 years.

Won the competition and other awards

The EchoCare's solution was rewarded several times.
1. In the US 1st place (Aging2.0 conference in Boston) - May 2016
2. Top ten company in aging technology - OPTIMIZE -Aging2.0 summit (SF Nov. 2016)
3. 2nd place in the active aging challenge (London 2018)
4. Echocare rewarded as 1st place of the quality digital health in the 2nd well aging summit (Tokyo, Oct 2019)

Invention/Patent

6 issued patents in the US.
US 9520051 - System and method for implementing personal emergency response system based on UWB interferometer

US 9,576,468- Human motion feature extraction in personal emergency response systems and methods

US 9,568,594- Human posture feature extraction in personal emergency response systems and methods 

US 9,568,595 - Ultra-wide band antenna arrays and related methods in personal emergency response systems

US 10,037,671 - Human respiration feature extraction in personal emergency response systems and methods

US10,621,847 - Human respiration feature extraction in personal emergency response systems and methods (Divisional)

These patents are also filed in Europe (under examiner process)

Photos

Photo 1 - Remote /Non-wearable Elderly Care Home Monitoring System
Photo 2 - Remote /Non-wearable Elderly Care Home Monitoring System

Product Video

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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video