Enterprise Europe Network

Online digital tool assessing and boosting brain abilities is offered under financial and commercial agency agreements by a Cypriot company.

Country of origin:
Country: 
CYPRUS
Opportunity:
External Id: 
BOCY20180606001
Published
06/06/2018
Last update
13/01/2020
Expiration date
18/07/2020

Keywords

Partner keyword: 
Data processing, analysis and input services
Education software
Computer programming activities
Data processing, hosting and related activities
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Summary

Summary: 
A Cypriot company, which has developed an online digital tool with fun games to assess and boost brain abilities, is seeking partners under financial and commercial agency agreements. The company is looking for investors in the software as well as for agents to represent its digital tool in their territories.

Description

Description: 

The Cypriot company was established in 2013 but it was inactive until 2017 when it started its operations.
The company combines online game entertainment with brain assessment and training.

The company has developed an online digital tool with fun games to assess and boost brain abilities.
The company’s product is a web-based diagnostic tool of 12 single tests of half an hour total duration. The online tests examine and boost auditory and visual memory and discrimination as well as left-right coordination.

While people play and have fun, the company measure certain brain parameters that, as its research has shown, are related to their potential to learn, the capacity of their memory, the speed of their thinking, their ability to plan and execute tasks and many others.

The online fun games enable the users (children between 6-12 years old) to detect dyslexia and other learning disabilities and also help professionals improve children's mental abilities.

The research, that the company's team conducted, has convinced them that a small number of “specifications” is sufficient to provide a fairly detailed profile of the user. The company's online games have been designed to assess such key parameters. Taken three tests at least, the company can provide to the users their brains' profiles. The more tests one takes, the more precise the profile will be. Each test takes only a few minutes to be completed.

The company has a prototype of the online platform ready.

The users can buy online licenses in order to have access to the digital tool. Users of the online digital tool can be individuals, practitioners, schools, etc.

There is an enormous potential for the company's online digital tool: there are only 5-10 similar ‘players’ globally and the global fixed rate of people dyslexia is around 10%.There is also a growing interest in assessing dyslexia and brain abilities in schools, locally and globally.
The product could grow into detecting more brain abilities.

The Cypriot company is seeking potential partners from EU countries and beyond in order to scale-up internationally by penetrating and leading the global market. It is looking for partners in the framework of financial and commercial agency agreements.
Potential investor should be able to invest 250,000 euros in the Cypriot company in exchange of 10% equity. Potential agents should represent the company’s online digital tool with fun games in their countries and earn a commission on the sale to the end clients. Potential agents could be companies in the field of represent and selling other similar licences, and software.
Potential partners could be private schools, psychologists, education practitioners, etc.

Advantages & innovations

Cooperation plus value: 
The company's product (online digital tool) is unique globally, in terms of algorithm and methodology used, for the detection of a number of brain abilities (synapses in the brain), including dyslexia. Apart from dyslexia, the tests can identify certain brain abilities. The number of brain abilities detected can be increased in the future, which is a great potential of the product. The online tool is considered as paperless solution. The e-reader format makes reading easier for dyslexics. The product’s nature (software as a service) enables the company to have lower pricing in comparison to existing paper based products. The product is easy to be sold (via web) at affordable prices (prices will start from about 40 USD/ United States Dollars for an individual user). Different pricing policy depends on the number of users. The tool is provided in a digital form accessible through internet anytime and anywhere. The product has applied for a US patent but not yet granted. The company has received distinctions in competitions in Cyprus regarding start-ups, digital and entrepreneurship. Also, the company has experience in Horizon programs with international partnerships either as coordinator or participant. The company’s staff combines extensive expertise in neuroscience, psychology, systems engineering, and business strategy and development. Also, the staff includes highly experienced IT experts, talented programmers and designers.

Stage of development

Cooperation stage dev stage: 
Prototype available for demonstration

Partner sought

Cooperation area: 
Potential partner could be a company in the field of represent and selling other similar licences, software. It should have expertise in educational products, sales of online software or licences, online marketing, website development, software programming, data management, etc. It could be a company with experience in cooperating with psychologists or schools, or school districts. Potential partner is also expected to help penetrate certain markets or promote the company's licences on their own channels.

Type and size

Cooperation task: 
SME 11-50,University,Inventor,R&D Institution,SME <10,>500 MNE,251-500,SME 51-250,>500