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Health and Physical activity IOT platform with equity ownership | Big Data Processing and Streaming tool

Need:32 864.26€
Interest rate:30%
Period:18 months
Target: 75 000€
Opens: 2021/09/29
Expires: 2021/10/29
Type: Specialized
Location: Latvia
Investments: 310

Big Data has become a topic of particular interest for the past two decades. Various public and private sector industries worldwide are trying to make greater use of big data by linking up their datasets as well, combining them with other data points, and analyzing this data to generate significant insights.

The application of big data analytics in healthcare has a lot of positive outcomes. The use of specific health data of a population (or of a particular individual) helps to improve the health and physical condition of each individual and population in total. It also has a far-reaching positive result, as it can significantly improve the health of the population in the long run.

SUMMARY

CROWDESTOR is announcing a new investment opportunity: Health and Physical activity IOT platform with equity ownership.

This is an opportunity to invest in the Health and Physical activity IoT platform and make a profit of 30% p.a. The total funding target in this round is 75 000EUR. The total funding needed for the project is 300 000 EUR.

Investors will receive an upside - a share in the Borrower company.  For 300 000 EUR raised, investors, will receive 20% of the Borrower. If fewer funds are raised, investors will receive a proportionally less.  The number of shares between investors will be calculated in proportion to the invested amount. Shares will be held by Collateral Agent on behalf of investors.

The funds will be used to finance the development of a platform/application named SPORTAL. SPORTAL is a platform that will accumulate large-scale data from wearable devices from different target groups for remote monitoring and research initiatives. The platform will be ready for launch in 12 months and the first strategic partnership will be signed by this time.

The primary users of SPORTAL are researchers, the government, and other social institutions. Research on large shared medical datasets and data-driven research can provide significant insights for policymakers for healthcare systems and individual care improvements. This is very attractive to stakeholders, as making research data broadly accessible and fully available for reuse encourages new research through the reanalysis of existing data, further leveraging the value of research investment. 1

SPORTAL has a huge market potential as well as will contribute a lot to society's wellbeing in a long run.

LOAN

Maximum target: EUR 75 000
Loan period: 18 months
Interest rate: 30% p.a.
Equity upside: For 300 000 EUR raised, investors, will receive 20% of the Borrower company. If fewer funds are raised, investors will receive proportionally less.  The number of shares between investors will be calculated in proportion to the invested amount. 
Borrower SIA ARETE Consulting, Registration Code: 40203347418
Repayment: Interest and principal in full at the end of the Loan Term
Collateral: Commercial pledge on intellectual property
Location: Latvia

ABOUT

Nowadays, there are many wearable devices and mobiles for health and physical activity tracking. Still, one of the significant challenges faced by the research and medical communities:

  • different wearable devices have different sensors, specific ways to collect data, different data processing models;

  • the manufacturer-developed algorithms are nearly always proprietary the manufacturer-developed algorithms are nearly always proprietary, and information about the verification and validation process of Biometric Monitoring Technologies (BioMeTs) and digital biomarkers are not released to the public.

This means that although a myriad of data is collected daily by different companies and institutions, its application in large-scale research to develop initiatives to improve human health and wellbeing is almost impossible. 

SPORTAL has a different approach - it's meant to be an open-source dataset platform, that will ensure that data can be used interdisciplinary. This will enable different stakeholders with expertise in engineering, manufacturing, clinical science, data science, biostatistics, regulatory science, ethics, and healthcare policy, etc. to develop the best healthcare and wellbeing strategies for different target groups, that can be implemented on the state level. Ensuring access to primary research data will play a key role in reinforcing interdisciplinarity and synergy in tackling serious health issues and come up with effective preventive measures.

FIRST PHASE LAUNCH AMONG PUPILS

SPORTAL aims to start with data collection among one social group - pupils. The Latvian Olympic Committee expressed interest in SPORTAL, as it could be a serious milestone in the development and implementation of policies aimed at increasing physical activity in children. Institutional support will facilitate access to the school segment that has huge market potential. 

SPORTAL could enable data collection from a large sample group, that could be used by the government to research and introduce new strategies in coping with children's low physical activity and the prevalence of obesity and overweight that is a growing concern for most OECD countries. As a major risk factor for many non-communicable diseases, obesity has considerable consequences for both population health and the economy. 3

Childhood obesity rates at a worrying trend, and it is a growing health challenge for the EU. Overweight and obesity in children are among the most critical risks to children's long and short-term health. Overweight children are very likely to become overweight adults.4

"Childhood overweight and obesity are more than a medical concern; they are increasingly an economic one. This is mainly due to their substantial cost burden, particularly later in life. Childhood overweight and obesity result in direct and indirect costs. The direct costs are predominantly healthcare ones due to an increased risk of developing obesity-associated diseases that need treatment, while the indirect costs are related to sick leave, reduced productivity, and premature death." 5

Children all over the world are spending a lot of time on sedentary pursuits. Although it has been proven that regular physical activity not only does it helps their physical health but also helps improve their brain function and emotional wellbeing.

Data collected would promote research and cost-effective nationwide strategical and tactical interventions in childhood obesity prevention through promoting physical activity. For example, physical education could become much more targeted and would have an individual approach. Strategies implemented would be fastly and easily trackable. It could also help to detect certain health conditions and bring them to parents' attention in good time. 

BUSINESS MODEL

1 https://sparcopen.org/wp-content/uploads/2016/01/SPARC-Open-Data-Factsheet.pdf

2 Bent B, Goldstein BA, Kibbe WA, et al. Investigating sources of inaccuracy in wearable optical heart rate sensors. NPJ Digital Medicine. 2020; 3(1): 18. doi: 10.1038/s41746-020-0226-6

3 Goldsack, J.C., Coravos, A., Bakker, J.P. et al. Verification, analytical validation, and clinical validation (V3): the foundation of determining fit-for-purpose for Biometric Monitoring Technologies (BioMeTs). npj Digit. Med. 3, 55 (2020). https://doi.org/10.1038/s41746-020-0260-4

4  OECD Reviews of Public Health: Latvia : A Healthier Tomorrow

5 Singh AS, Mulder C, Twisk JW, van Mechelen W, Chinapaw MJ: Tracking childhood overweight into adulthood: a systematic review of the literature. Obes Rev 2008;9:474-488.

6 Sonntag D: Why Early Prevention of Childhood Obesity Is More Than a Medical Concern: A Health Economic Approach. Ann Nutr Metab 2017;70:175-178. doi: 10.1159/000456554

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