Periodic Reporting for period 1 - INSULCLOCK (Empowered control of drugs's dosage in chronic diseases.)
Reporting period: 2015-06-01 to 2015-10-31
Insulclock® is a small electronic device very easily plugged in any insulin injection pen, which helps patients automatically tracking critical information about their treatment, such as remembering the date, time and dosage of the last shot and the time of the next one. Moreover, via Bluetooth it sends the information to a pre-installed app, keeping data in the Cloud for data warehouse and synchronization with multiple devices. The app helps diabetics and their caregivers managing the disease along time.
During the phase 1 period we have gathered a very qualified and committed team to develop Insulclock project faster. Now we are nine experienced professionals giving our best to make Insulclock® a reality.
We have attained great advances through product termination. Our IPR protection is advancing and the strategy is completely defined. We are having great success stablishing international partnerships. Details about all these issues can be found in the Feasibility Report.
Our advances building a strong brand image have been remarkable:
• We created our English and Spanish website and also our blog, twitter, Facebook, Google+ and LinkedIn accounts.
• We are getting in touch with diabetes associations (almost all in Spain, 32 in US, and some other around the world), spreading the news of Insulclock®, stablishing personalized relationships with them and learning details about our different target markets.
• To promote Insulclock® we are taking part in national and international events, giving interviews in the mass media and appearing in blogs.
• We won several contests.
We perform an active technology forecasting and we found some new competitors that try to solve the needs we face, there are many applications and some devices. They lack the automaticity of Insulclock® and that is why diabetics, according to our conversations with them, prefer Insulclock®.
We have attained great advances through product termination. Our IPR protection is advancing and the strategy is completely defined. We are having great success stablishing international partnerships. Details about all these issues can be found in the Feasibility Report.
Our advances building a strong brand image have been remarkable:
• We created our English and Spanish website and also our blog, twitter, Facebook, Google+ and LinkedIn accounts.
• We are getting in touch with diabetes associations (almost all in Spain, 32 in US, and some other around the world), spreading the news of Insulclock®, stablishing personalized relationships with them and learning details about our different target markets.
• To promote Insulclock® we are taking part in national and international events, giving interviews in the mass media and appearing in blogs.
• We won several contests.
We perform an active technology forecasting and we found some new competitors that try to solve the needs we face, there are many applications and some devices. They lack the automaticity of Insulclock® and that is why diabetics, according to our conversations with them, prefer Insulclock®.
Diabetes affects the quality of life of patients and costs around 10% of all the health expenditure in Europe. The indirect costs are five times bigger. Better diabetics’ adherence to treatment would result in a better quality of life for them, and in an immense economic saving in Europe. Insulclock® is designed to help diabetics follow their treatment and avoid mistakes by simplifying insulin administration. Insulclock® project will generate 25M€ revenue and 133 employees by 2020 and it will open the door to new business models in all the value chain.