Periodic Reporting for period 1 - Adams Hand (Turning Disabilities into New Possibilities with the Easiest-to-Use Myoelectric Hand Prothesis in the World)
Periodo di rendicontazione: 2019-10-01 al 2020-03-31
Globally there are an estimated 3 million people that are in need of arm prosthetics. Standard prosthetics are expensive, and they need to be replaced every 3 to 5 years, making it a burden on those who need it. Standard prosthetics also do not give users the range of motion and freedom need to be most useful to them. Only a small proportion of amputees can afford high tech prostheses.
The European Union Agency for Fundamental Rights makes it clear that people with disabilities make an enormous contribution to European society, but often face barriers that prevent them from participating in society on an equal basis with others. Realizing the core EU values of dignity, autonomy, equality and inclusion means removing the obstacles that hinder the full and effective participation of the 80M people with disabilities living in the EU. At BionIT Labs, our goal is to improve the quality of life for people with disabilities.
The goals were to create an Industrialization roadmap, conduct a country-based market and insurance and pricing model assessment. We also confirmed freedom to operate and conducted an IP assessment, as well as regulatory analysis and we created a business plan.
The European Union Agency for Fundamental Rights makes it clear that people with disabilities make an enormous contribution to European society, but often face barriers that prevent them from participating in society on an equal basis with others. Realizing the core EU values of dignity, autonomy, equality and inclusion means removing the obstacles that hinder the full and effective participation of the 80M people with disabilities living in the EU. At BionIT Labs, our goal is to improve the quality of life for people with disabilities.
The goals were to create an Industrialization roadmap, conduct a country-based market and insurance and pricing model assessment. We also confirmed freedom to operate and conducted an IP assessment, as well as regulatory analysis and we created a business plan.
Our prospects will be reached through a dedicated sales workforce, that will carefully manage the relationship with each one of them, creating a strong network of BionIT Labs authorized resellers. As stated before, the price strategy will grant the resellers a higher margin compared to the competitors; in fact, despite the high technology features, Adam’s Hand will pursue a price-based strategy: thanks to the high-quality 3D printing technology implemented and the above-mentioned patent-pending mechanism, the price of the device with three high-resistance aesthetic glove and a 5 years warranty package (free check-up at month 24 and 48 since the purchase, free replacement device during repair) will be less than €20,000, with a variance up to 75% compared to competitors’ price. Pursuing that strategy, the expected penetration market rate will be higher: in fact, both the reseller (thanks to the increased margin he can obtain due to the lower purchase price) and the end user (with partial reimbursement provided by the local health system) will benefit.
Apart from all the conventional online and offline marketing activities to promote the positive impact of the EC funding and our product Adam’s Hand, our team is very active in attending industry events such as CES. We will also exhibit our device in national and international prosthetic fairs, conferences and symposiums, such as Rehacare in Düsseldorf, ISPO’s 17th World Congress, OT World in Leipzig and Cybathlon 2020. We will also publish several scientific papers regarding the device mechanics and electronics, and control systems.
This Feasibility Study has allowed us to define the final specifications of our Adam’s Hand device (1 technological feasibility study) confirm that there is an important European and global market potential (2 market assessment), refine our business model by studying the unit pricing model (of 13,000€) in detail (3 pricing model assessment), check out our main risks (4 risk analysis), confirm that we are following a strong IP protection strategy (5 IP assessment). We also refined some parts of our business plan.
In short, our objectives, concept and impact have been confirmed and we therefore want to continue with our business idea and apply for further funding once there is more certainty surrounding the COVID-19 epidemic.
Apart from all the conventional online and offline marketing activities to promote the positive impact of the EC funding and our product Adam’s Hand, our team is very active in attending industry events such as CES. We will also exhibit our device in national and international prosthetic fairs, conferences and symposiums, such as Rehacare in Düsseldorf, ISPO’s 17th World Congress, OT World in Leipzig and Cybathlon 2020. We will also publish several scientific papers regarding the device mechanics and electronics, and control systems.
This Feasibility Study has allowed us to define the final specifications of our Adam’s Hand device (1 technological feasibility study) confirm that there is an important European and global market potential (2 market assessment), refine our business model by studying the unit pricing model (of 13,000€) in detail (3 pricing model assessment), check out our main risks (4 risk analysis), confirm that we are following a strong IP protection strategy (5 IP assessment). We also refined some parts of our business plan.
In short, our objectives, concept and impact have been confirmed and we therefore want to continue with our business idea and apply for further funding once there is more certainty surrounding the COVID-19 epidemic.
Adam’s Hand is easy to use: using our patented single motor mechanism (instead of 5-6) makes Adam’s Hand extremely easy-to-use, since it diminishes the visual attention - and then the psychological load - linked to the grasping action: the user only needs to approach the object and to decide whether they want to open or close the hand without selecting any pre-set grip pattern through complex combinations of muscle contractions.
Using a single motor makes Adam’s Hand lighter, more compact, less loud and more autonomous. Furthermore, Adam’s Hand has a customizable phalanges length: this feature helps the users retaining their anthropometric identity, compared to standardized competitors’ sizes, lowering the device rejection rate.
Adam’s Hand is waterproof: as there is only a single motor and reduced electronics, Adam’s Hand can easily be made waterproof, helping the users performing ADLs which require them to be in contact with water (e.g. washing dishes, taking showers), without the need for external gloves, which generally tear, invalidating the device warranty if it is used without wearing them. Sensorized fingertips allows Adam’s Hand to give the user vibratory feedback about the grip strength.
With our Adam’s Hand prothesis, amputees will be able to perform 90% of ADLs that are fundamental for the user’s comfort and well-being. At BionIT Labs, we do not consider disabilities as an absolute limit to people’s potential, but as technological limitations yet to be overcome by mankind throughout history: it is therefore our responsibility to breathe life into innovative technologies that can “turn disabilities into New Possibilities”, allowing the users to relate in an immediate and effective way with their environment and with other individuals.
Using a single motor makes Adam’s Hand lighter, more compact, less loud and more autonomous. Furthermore, Adam’s Hand has a customizable phalanges length: this feature helps the users retaining their anthropometric identity, compared to standardized competitors’ sizes, lowering the device rejection rate.
Adam’s Hand is waterproof: as there is only a single motor and reduced electronics, Adam’s Hand can easily be made waterproof, helping the users performing ADLs which require them to be in contact with water (e.g. washing dishes, taking showers), without the need for external gloves, which generally tear, invalidating the device warranty if it is used without wearing them. Sensorized fingertips allows Adam’s Hand to give the user vibratory feedback about the grip strength.
With our Adam’s Hand prothesis, amputees will be able to perform 90% of ADLs that are fundamental for the user’s comfort and well-being. At BionIT Labs, we do not consider disabilities as an absolute limit to people’s potential, but as technological limitations yet to be overcome by mankind throughout history: it is therefore our responsibility to breathe life into innovative technologies that can “turn disabilities into New Possibilities”, allowing the users to relate in an immediate and effective way with their environment and with other individuals.