During the 12-month grant period, VoiceMed executed several key tasks:
Task 1: Business and Commercialization Plan Upgrade
Sub-task 1.1 – Business Plan Upgrade (M1-M6): Conducted in-depth market research, updated the business plan, established an EU pricing and revenue model, and developed financial projections.
Sub-task 1.2 – Commercialization Strategy (M6-M12): Developed a detailed go-to-market strategy with clear KPIs and objectives, and identified opportunities for international partnerships.
Sub-task 1.3 – Risks and Barriers Analysis (M9-M12): Identified potential risks and developed mitigation measures.
Task 2: Fundraising Strategy Definition and Implementation (M6-M12)
Analyzed public and private funding opportunities, developed a fundraising strategy, and successfully raised €225k from Padda Health and EIT Digital.
Task 3: Regulation, IPR & Freedom to Operate Context (M6-M12)
Conducted regulatory standards analysis, studied IP thoroughly, and researched freedom to operate from both IP and competitors' perspectives.
Task 4: Project Management, Communication, and Sustainability (M1-M12)
Managed project activities, communicated results, participated in events, and engaged in training, coaching, mentoring, and networking activities provided by WomenTechEU.
Main Achievements:
Developed and launched a software development kit (SDK) for third-party integration, leading to the first paying B2B client with €50k revenue.
Conducted a paying pilot with 28 participants, achieving high user satisfaction (92%).
Improved algorithm performance with key KPIs: Sound Event Detector (91%), Sound Quality Evaluator (100%), Respiratory Biomarker (85%), and CardioRespiratory Biomarkers (80%).
Raised €225k from two investors, bolstering financial stability and growth potential.
Conducted a comprehensive analysis of available patents and IPR landscape.
