Wearable devices and distributed sensors to track the person’s position over time, identify motor and / or postural activities and evaluate their variation over time to monitor the level of well-being of elderly people with cognitive and / or motor problems.
We are considering here only the European and US market as
they are the more mature for elder tech. The TAM is considered as the total population over 65. 150M Total Addressable Market. The SAM is considered as the 65+ population fraction whose families are willing to buy a technological support for their assistance (estimated by external sources around 40%). 72K Serviceable Obtainable Market. Considering Teseo’s B2B-first strategy, the SOM is estimated as the fraction of the 65+ population who lives in a facility that is interested in adopting technological tools for elder care support (also estimated according to both internal and external sources around 40%). 60M Serviceable Addressable Market.
Kibi has been inspired by the growing demand of both families and professional caregivers for technological tools to assist them in providing cares to older adults through localization, cognitive support, and remote monitoring, which is estimated around 80% and 40% respectively. Today millions of people worldwide must balance work and family duties with the care of an older loved one. Teseo’s vision is to support their peace of mind with actionable insights while encouraging the older adult towards active ageing. Kibi’s technology, coupled with a dedicated interface and analysis tools, can also appeal to professionals that need tools to ensure safety and desire to digitalize their operations and reduce repetitive, bureaucratic tasks.
Current Technology Limits
To professionals, solutions like camera-based surveillance systems or telecare are just safety tools that can hardly provide any data for personalized care, preventive care and to improve their efficiency, and they can raise serious privacy concerns. In the Ambient Assisted Living field, previous solutions are more complicated to install and maintain, they only have limited activity-recognition capabilities and do not allow to separately monitor multiple persons in a shared environment. Our service, Kibi, is the pioneer of a new approach that achieves all of this employing only inexpensive, simple and scalable hardware. In a household, Kibi offers unique coaching features based on the perceived habits of the assisted person.
Kibi is already ready to market for the eldercare facilities market where Teseo is starting its first pilots. Kibi’s business model is SaaS and we will provide all the necessary hardware. In a facility, Kibi allows to improve safety and reduce
average response times in case of need, to digitize processes and reduce errors due to communication problems between staff members. It provides useful data for the prevention of falls (e.g., historical falls, motility, night walks) and some typical problems of the elderly (e.g., UTI, dehydration). The next step towards the full exploitation of the patent is the integration of the other features described therein (e.g., coaching) and the consequent release of a version specifically designed for use at home.
Our Technology and Solutions
Kibi employs only a wearable and a few inexpensive bluetooth beacons that can run on battery for periods of time, and it only requires an internet connection. In details, kibi offers: a localization system with statistics about permanence time in a given area, movement flows and how crowded areas
typically are. An automatic fall detection system. User-definable alerts in case a person does not move for too long, leaves the building or even in case of abnormal behaviors such as walks at night or going to the bathroom too often. An activity recognition system based on the geriatric Activities of Daily Living standard and an analysis of positive and negative trends in time. For consumers, the ability to provide coaching by interacting directly with the assisted person through a smart speaker. A dashboard for the caregivers.
In a eldercare facility, Kibi helps both caregivers and administrators. For caregivers, it provides immediate emergency alerts, actionable insights into the person’s health and needs, and the ability to have immediate access to all this information. For administrators, Kibi can be a valid tool to reduce the cost of accidents and hospitalizations, as well as, thanks to the digitalization of some processes, those related to reporting and routine operations that have little impact on the quality of assistance provided to the guest. On the other hand, at home Kibi guarantees serenity even when you are far away, it promotes active ageing and foresees and prevents the onset of typical problems of advanced age. This can be beneficial both to the family and to professional caregivers.
Kibi’s version for eldercare facilities is already ready to market. We are currently launching the first two commercial pilots which we intend to follow up with the release of the service. The sales channels for this version are system integrators who already work with eldercare facilities (we already have an agreement with a Swiss integrator) and direct contact through a group of sales agents. Meanwhile, the development of a PoC for use at home is continuing and results are expected for the first half of 2021. The B2B2C use cases are senior living, home care and integration with 24/7 remote assistance services. B2C remains Kibi’s ultimate goal but requires significant investments and/or synergy with strategic business partners (e.g., pharmaceutical companies, insurance companies).
Call to action: Contacts with structures interested in a demo/pilot to collect feedback and data. Contacts with synergistic partners interested in developing the home version