Gheorg is an AI assisted virtual psychologist who plays games as therapy, he uses nueroshaping to create a more resilient brain and identity self expression to engage kids.
Gheorg launched in September 2020, and has almost 400 daily active users. He is used in the US, UK, China, Australia, NZ and even places like Myanmar. We have 11 schools signed up to use Gheorg in the classroom, and 4 psychologists ready to trial him with clients.
Our user is 7-12 year olds, our customer is their parents. Our market research has indicated that it is Mums who buy this kind of technology. Our total available market is the English speaking developed world which is $171 Billion or nearly a billion children, our serviceable available market is just the US, UK and Australia at $7 Billion or $50 Million children, and our serviceable obtainable market is $500 Million dollars or 2.5 Million children in Australia.
Problem or Opportunity
UNICEF estimates severe stress and childhood anxiety rates are now at 50% around the developed world. Pre Covid this rate was 20% which was already considered an epidemic with severe impacts on learning and life. No one knows the cause and less than a third will ever be diagnosed or treated due to a lack of mental health services in developed countries with most having less than 3 per 100,000 people.
Solution (product or service)
Gheorg is a first responder for children in need. He is an AI assisted virtual psychologist designed to be easily suggested by teachers, parents can then sign up at home to help their child get some relief from symptoms. He is also designed to be used in the classroom so that children can meet him in a trusted environment. He plays games as therapy and has the three main streams of therapy used to treat anxiety and build resilience. He will also connect children to mental health services when needed.
Most people assume our competitors are meditation and mindfulness apps like Calm or Headspace, but this is incorrect. Gheorg offers one breathing meditation component which is part of the free access, PLUS therapy. The only other app that delivers therapy like Gheorg is an app called Woebot which is pre-revenue and shows low engagement with children because woebot is built for adults and has no gamification. The other alternative to Gheorg is psychologists and since we work WITH psychologists, these are not our competitors but rather they are part of our sustainable competitive advantage strategy.
Its a SaaS recurring revenue business model where each user pays $14.99 a month. Our cost structure is a lean one with largest costs in staffing and marketing. In 2021 we will be increasing the age Gheorg can help doubling our market, we will also add a school wellness dashboard and integration for mental health services.
Its a SaaS recurring revenue business model where each user pays $14.99 a month. Our sales channels are primary schools where schools do a free online virtual program with children where they get to meet Gheorg and understand how he helps, they then get a certificate they take home to parents so that they can get the app with a discount for the first few months. Our north star metric is engagement in the app which we use algorithms to improve and understand. We use audience engagement metrics in social media and for our school sales channel.
Money will be spent on
Advancing our progress in to schools in Australia and ensuring it is scaleable to international, advancing in to the US in 2021 and advancing Gheorg's ability to diagnose and treat through subtle voice and behaviour cues.