Lottie file
Innovatie
ELEMENTA
Opschaling
ELEMENTA is a highly specialised voice assistant for biomedical research labs, which assists researchers through experimental workflow in the lab. Scientists are able focus on conducting high quality experiments in the lab, while ELEMENTA is taking care of their side tasks such as documentation and concentrations.
Hulpmiddel
Overige
Regio Noord-Holland
Ahmed Khalil
Probleemstelling
The biomedical research field and life sciences are the main core of any strong healthcare system. Through both fields, we conduct our research to understand diseases, human body and discover new innovative ways to treat diseases. In spite of the the current huge efforts and investments into our healthcare systems, biomedical research field seems to be neglected.
The current ways of conducting and documenting scientific research is very inefficient and out-dated. Most research labs around the world are still solely depending on papers to document their data, which contributes to loss of time, efforts and huge amount of data and creating what is called now "Reproducibility Crisis". Accordingly, US$240 billion are wasted every year on irreproducible science.
Currently, there is a huge shift towards digitising research data through solutions called Electronic Lab Notebooks. However, there is a huge resistance towards adopting these solutions because they are not user friendly and no focusing on the practical issues of researchers in the lab. Due to the sterile environment in the labs, laptops and computers are not allowed. Therefore, researchers run back and forth between the lab and their desktop to access their data during their experimental sessions. They are also forced to use paper in the lab to document their data before they transfer it later into their ELNs after their experimental session.
Our validations with around 200 researchers from academia and industry around Europe shows that such inefficient ways of working in the lab wastes up to 30% of researchers time, loss of up to 70% of data, forms distractions for researchers and lowers their productivity in the lab.
Oplossing
A highly specialised voice assistance for biomedical research labs
Doelgroep
We are targeting 2 market segments:
1. Academia and research institutions.
2. Industry, Pharma and Contract Research Organisations (CROs).
Within both target markets our product includes two target audiences:
- Users: Researchers, PhDs, Lab managers, Technicians, junior and senior scientists.
- Payers: Head of research, Principle Investigator (PIs), Professors, Principle Scientists and head of departments.
Our business model is a Saas b2b and we will be placing our pricing based on the number of users within the organisation (size) and which sector (Academia or Industry). However, for our market size calculations we included an average price of 50 euros/researcher.
- TAM: 3.25 Billion Euros - 5.6 Million (Number of researchers around the world) X 50 euros/researcher.
- SAM: 706 Million Euros - Based on number of of scientists in US and Europe (14.12 Million).
SOM: 290 Million Euros - We are aiming to capture 10% of the US and Europe market withing the upcoming 10 years.
Verdienmodel
- For academia: based on the size of organisation (number of users) will range from 15-35 euros/researcher/ month.
- Industry: Ranges from 70-100 euros/ researcher/ month based on the size of organisation.
We also offer special prices for annual and quarter license fee.
Geïnvesteerd vermogen
€ 100 duizend-1miljoen
Concurrentie
We are one of the first companies in the world building such a product. We have only 2 direct competitors: LabTwin and Labvoice. ELEMENTA had a competitive advantage in terms of technical implementation and business strategy.
As mentioned previously, ELEMENTA saves up to 30% of researchers' time and increase the quality of data capturing in the lab by 40%. Combining both factors, calculating the amount of hours saved by each researcher in the lab and avoiding repeating unnecessary experiments due to high quality of data documentation. We have concluded that ELEMENTA saves research labs an average of 2000 euros/researcher/month. In a research institution with 100 researchers, ELEMENTA will save an average of 2 Million euros a month and enhance the overall innovation discovery by boostng IPs.
Unieke kenmerken
- ELEMENTA enables researchers to do hand-free/real-time documentation at any time during their experimental process.
- ELEMENTA is not only speech-to-text, it also understands different workflows in the lab and assists researchers through out their experimental procedures by narrating them.
- Fully voice interactive, researchers use elementa just by voice while their phones in their pockets on a locked screen.
- Ability to share and send data across multiple platforms in a secured way.
Based on our pilots we proved that ELEMENTA saves up to 30% of researchers time in the lab, increase the quality of data capturing by 40% and increase of researchers' productivity in the lab by 20%.
Intellectueel eigendom
Not at the moment.
Organisatie
We are currently a team of four people, CEO, CTO, CIO and a Senior software development. However, we are aiming for global expansion since our product not bounded to geographical boundaries.
The growing expected structure of our organisation:
- An advisory board from different fields : AI, Life Sciences, Finance and business development.
- C-level team: COO, CFO & CMO.
- Executives: VP of sales, marketing and customer support.
- AI/ML engineers and data scientists.
- Mobile app and web app developer.
Beschrijving pilotfase
After building our mobile app and highly specialised models based on the testing phase, we integrated ELEMENTA with two of the biggest Electronic Lab Notebooks companies. This integration allowed us to test our solution in a real life in different research labs as follows:
- 1st phase (Interviews) - one week: We conducted interviews with the researchers (test subjects) to understand their pains and problems in the lab.
- 2nd phase (Implementation) - one week: We install ELEMENTA in their lab based on their problems in the lab.
- 3rd phase (Pilot) - one month: Testing through different experimental workflows to compare one group using ELEMENTA and another group not using ELEMENTA. We followed up with interviews after every session to be as accurate as possible. We also measured different KPIs along the pilot: Time saved, improved quality of data captured, increase in productivity and estimated money saved.
- 4th phase (Reporting)- one week: after gathering all the data we presented the overall outcome of the pilot project.
Betrokken partners
Yes, we had partners involved. Electronic Lab Notebooks to integrate with their softwares and enable researchers to easier document their data on their computers.
We also collaborated with different researchers around the Netherlands from different research groups and medical hospitals.
Aantal gebruikers pilot
11-100
Onderzoeksresultaten
Our pilot project outcomes proven the huge added value of implementing voice technology in the lab. Based on our data analysis from our test groups, using our voice technology in the lab improved the following:
- Saved researchers up to 30% of their time wasted on the documentation process (3hrs/researcher).
- Increased the quality of data capturing (reproducibility) by 40%.
- Increased the productivity of researchers in the lab by 20% through eliminating side tasks of documentation and be more focused on the experimental workflow.
- Saved an average of 2000 euros/researcher/month to the research lab by avoiding repeating unnecessary experiments and saving time.
Implementatiestrategie
Confidential information
Behaalde prestaties of gewonnen awards
- ACE incubator program.
- Secured 125k funds.
- Microsoft Startup program.
- ASIF best pitch - spring Edition 2021
- 3rd place at eAwards Netherlands.
- Currently taking part of IMEC.ISTART accelerator program
Productontwikkeling
Confidential information.
Internationale ambitie
We are already having big pharma companies from other countries in the pipeline. As we mentioned we are aiming for global expansion from the start, specially that the problem we are solving is a global problem and not affected by an geographical boundaries.
Omzet
€ 0-10k