INSULCLOCKProject reference: 674505
Funded under :
H2020-EU.2.3.1. - Mainstreaming SME support, especially through a dedicated instrument
Empowered control of drugs's dosage in chronic diseases.
Total cost:EUR 71 429
EU contribution:EUR 50 000
Topic(s):ICT-37-2014-1 - Open Disruptive Innovation Scheme (implemented through the SME instrument)
Call for proposal:H2020-SMEINST-1-2014See other projects for this call
Funding scheme:SME-1 - SME instrument phase 1
INSULCLOCK addresses the opportunity of providing a new product within the growing market for diabetes care, a very serious and painful disease with an expected global patient pool of 380 million by 2025.
More specifically, INSULCLOCK approaches the insulin pens market which totaled above 8 billion € in 2013, with a 9% CAGR for the next years.
More than 25% of diabetics depend on insulin injections daily, and it is estimated that two-thirds of insulin volume is injected via a modern pen devices. In case treatment fails, there is high risk of complications related to vascular and nerve affection and even death.
The goal of our project is to launch market uptake of INCULCLOCK, an integral solution to really help diabetics and their caregivers in self-managing their disease. Thanks to the unique integration of smart electronic devices and mobile&wearable technologies, we create new demand both from patients already using insulin pens and those not doing so because of reliability issues. Also, around their caregivers, not involved today in business, creating an uncontested market space.
In the current market there are smart/memory insulin pen devices however several reasons make INSULCLOCK really unique:
1. It automatically records all critical information related to insulin in-taking for diabetes treatment.
2. It stores data taking full advantage of possibilities offered by the Cloud and mobile application technologies, assuring security and privacy.
3. It integrates wireless communication.
4. It is universal, reusable and even smaller and lighter than competitors.
5. It fulfils these advantages altogether.
We plan to undertake detailed studies for identifying key action points for the internationalization and growth of the company as well as industrialization process, purposes of Phase 2, for which we estimate a total budget of 1M€ for 12 months. In Phase 3 we will focus in further private investment.
EU contribution: EUR 50 000
JULIO PALACIOS, 29 13 Esc.A