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CoMed

Revolutionizing Brain MRI Diagnostics with AI

Uzbekistan
Market: Consulting, Medicine, Blockchain, Artificial Intelligence, Mobile applications
Stage of the project: Prototype or product is ready

Date of last change: 28.09.2024
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Idea

CoMed is a trailblazing software company transforming Brain MRI diagnostics. We develop cutting-edge, AI-powered software that seamlessly integrates into hospital and clinic workflows, elevating diagnostic accuracy and speed. Our platform fosters a global community of healthcare professionals and patients, bridging gaps in care and expertise worldwide.

Our mission is to revolutionize medical diagnostics through innovative technology, making healthcare faster, more accurate, and more accessible.

We envision a future where advanced diagnostics are available to all, regardless of location.

Current Status

We have developed a fully functional prototype. Our social media traction includes:
- 1.4K users engaged in live development
- 70.2K impressions
- 323 unique interested users
- 130 positive feedback comments
We have secured contracts with over 1,400 hospitals and have access to 3 million medical records for training our deep learning model.

Market

- Hospitals and Polyclinics: Especially those lacking advanced diagnostic equipment or specialists, primarily in rural and underserved regions.
- Specialized MRI Centers: Facilities aiming to enhance diagnostic capabilities and operational efficiency.
- Medical Universities: Institutions seeking cutting-edge tools for education and research.

Problem or Opportunity

In Uzbekistan 85% of deaths are caused because of non communicable disease. Why? Because we have only 15% of hospitals that are equipped with MRIs. We like professionals and equipment, especially in the countryside, and this process takes a lot of time, especially for people who live in rural areas because they don't have access to facilities and professionals in city areas. And this process is excessive bureaucracy and we have faulty diagnosis because we rely on human factors.

Solution (product or service)

CoMed introduces an AI-powered platform that generates, manages, and reports Brain MRI observations. We're building an ecosystem that connects doctors and patients seamlessly. Our platform streamlines the diagnostic process without replacing doctors—it's a tool to enhance their capabilities.

Competitors

- Dicom Viewer
- Qure AI
- Celsus
- Aidoc
- Rayscape
- Annalise AI

Advantages or differentiators

- AI-Integrated Software: Cutting-edge technology enhances diagnostic accuracy.
- Fully Remote Consultation: Access specialists without geographical barriers.
- Enhanced Diagnostic Process: Streamlined workflows improve efficiency.
- Data-Driven Healthcare Planning: Informed decisions based on robust data.
- Reduced Waiting Time: From days to 15-30 minutes.
- Improved Accuracy: Boosting diagnostic precision from 84% to 95%.
- Cost Reduction: Decreasing expenses by 35%.

Quick Info:
- AI In Healthcare; grow at a CAGR of 38.5% from 2024 to 2030
- Medical Imaging; grow at a CAGR of 4.9% from 2024 to 2030
- Big Data in Healthcare; grow at a CAGR of 19.06% from 2023 to 2035

Finance

- ~$220 USD/month, billed annually for the first-time purchase.
- ~$220 USD/month + additional fees (~$100 USD), billed annually to renew the license and access optimized AI models integrated into existing workflows.
- Option to continue using the previous software version without extra fees.

Licensing and Subscription Policies
We offer a comprehensive approach to encourage long-term adoption and streamline revenue:
Upgrade Enforcement: We require hospitals to upgrade their licenses after 2 years to access the latest software version, ensuring a continuous flow of revenue.
Non-Backward Compatibility: We prevent hospitals from reverting to older subscription plans, maintaining consistent revenue and encouraging necessary upgrades.
Flexible Upgrade Paths: We provide the option for hospitals to upgrade annually or biennially based on their specific needs and budget, ensuring they always have access to the most up-to-date software.
Incentivized Renewals: We offer discounts or added features for hospitals that choose to renew their licenses ahead of the 2-year mark, rewarding their commitment to our platform.

Business model

Operating on both B2G and B2B models to maximize reach and impact.

Revenue Streams:
- Subscription fees ($220/month)
- Additional service fees (+$100/month for optimized AI models)
- Licensing

Key Value Propositions:
- Affordable Pricing
- Enhanced Diagnostic Accuracy
- Rapid Diagnostic Turnaround
- AI-Integrated Software
- Fully Remote Consultation
- Data-Driven Healthcare Planning
- Accessibility and Convenience

Money will be spent on

Investment Area:
- AI Model Training
- Compute Modern
- Technological Tools
- Marketing and Sales
- Customer Support Infrastructure
- Research & Development

Offer for investor

We're offering 10% equity (negotiable) for strategic investment to accelerate our growth.

Team or Management

Mentors & Advisors

Risks

AI Hallucination: Actively addressing this through rigorous testing and validation to ensure reliability.

Quick Info:
AI hallucination is a phenomenon wherein a large language model (LLM)—often a generative AI chatbot or computer vision tool—perceives patterns or objects that are nonexistent or imperceptible to human observers, creating outputs that are nonsensical or altogether inaccurate.

Incubation/Acceleration programs accomplishment

Open Community

Won the competition and other awards

- Amazon Startups: Awarded $10,000 USD.
- Microsoft for Startups Founders Hub: Received $150,000 USD.
- OpenAI API Credits: Secured $2,500 USD.
- Huawei Seeds for the Future 2024: Quarter Finalist.
- Over 100K combined impressions on social media.
- Supported by: AI/ML API.
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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
Product Video
Presentation