ELEVVO: A Ground-breaking Wearable Brain-Computer Interface that Enables Self-management of Cognitive Welfare through Personalised Training Exercises

Project Information

ELEVVO

Grant agreement ID: 771003

DOI

10.3030/771003

Project closed

EC signature date 11 May 2017

Start date 1 May 2017

End date 31 August 2017

Funded under

• INDUSTRIAL LEADERSHIP - Leadership in enabling and industrial technologies - Information and Communication Technologies (ICT)

Total cost

€ 71 429,00

EU contribution

€ 50 000,00

Coordinated by

BIT & BRAIN TECHNOLOGIES SL
Spain

Periodic Reporting for period 1 - ELEVVO (ELEVVO: A Ground-breaking Wearable Brain-Computer Interface that Enables Self-management of Cognitive Welfare through Personalised Training Exercises)

Reporting period: 2017-05-01 to 2017-08-31

Summary of the context and overall objectives of the project

We all experience certain decline in our cognitive capacity as we become older, especially after the age of 40. This is a process that can be accelerated by mental inactivity throughout our lives. There is evidence that early onset of targeted training is key to prevent and slow down the progression of cognitive damage. Several methods and global health policies are encouraging the adoption of healthier life styles that can lead to better ageing and economic gain. ELEVVO is a brain-computer interface materialised in the form of a wearable that connects to a smartphone or tablet. Based on a personalized neuro-feedback process, ELEVVO assesses the user’s level of brain activity and yields a suite of tailored mental exercises that induce measurable neuroplastic changes in the brain, reflected by improved cognitive functions. BitBrain Technologies aims to bring to market an innovative and reliable wearable system that offers real cognitive enhancement in a measurable and non-subjective manner without compromising simplicity or our individual needs. This will have a huge social and economic impact as the healthy population will actively improve their own welfare and productivity. ELEVVO is also uniquely positioned to ameliorate the symptoms in neurological patients (e.g. depression, anxiety). Altogether, ELEVVO will contribute to alleviate a major economic impact, with annual $2 trillion losses associated with cognitive deficits and decline

Work performed from the beginning of the project to the end of the period covered by the report and main results achieved so far

Currently, ELEVVO is a functional prototype demonstrated in relevant environment (TRL6) due to previous products with related technology developed by BitBrain Technologies. During the feasibility study, BitBrain Technologies has analysed the requirements for the full technological development of ELEVVO as well as for the most appropriate commercial and financial strategies for its introduction in the market. This analysis has led to the following key conclusions:
Finalized Technological improvement of ELEVVO
Qquantification of the potential market for ELEVVO with identified ELEVVO’s target end-users and stakeholders.
defined a sales strategy in the selected target European and American countries and has carried out a sales forecast for the first 5 years of ELEVVO’s commercialisation

Progress beyond the state of the art and expected potential impact (including the socio-economic impact and the wider societal implications of the project so far)

BitBrain’s main target users for the short-term commercialization of ELEVVO will be the adult population, from young adults to elderly people. These end-users will have clear benefits from the training with ELEVVO technology, which will establish their willingness to pay for our device:
Reliable and cost-efficient solution: real cognitive enhancement at a competitive price similar to the one of unreliable competitors.
Simple: easy to use intelligent and autonomous system.
Portable and ergonomic: it can be used anywhere and anytime, as it has an ergonomic and plug-and-play design.
Enjoyable gaming: enjoyable training and mental exercises that ensure adherence.
Customized: based on big data analytics, providing each user with training tailored to his/her own needs.
Modern trend: smart and wearable device in line with market drivers and trends.

image-3.png

image-2.png

image-1.png