Medech

We launched our venture Medech. It is a healthcare venture, focusing on providing better diagnosis and prognosis for individuals anywhere, especially during hospital visits. With the help of our system, an individual can perform a self assessment of the physical and mental condition. Summarized information will be available for doctors, opening room for further investigation and getting the most during the short appointment time. We aim to assist patients reduce their anxiety, stress and create a harmonious Doctor-patient relationship. We wish to work together with healthcare professionals and be a cohesive force in the healthcare arena. On an average there is 1 doctor for 3000 people in Bangladesh, while the duration of appointment is less than 1 minute for each patient. At such intense an intense situation, it's time to act and make a difference! 

Healthcare is one of the biggest sectors in the world. When visiting a hospital, patients have to wait in queue for a long time. We want to let them utilize this time to let them get a thorough analysis of the physical and mental condition. We allow the patient interact through a user-friendly user interference, analyze logically and thereby create a summary. There is the option to perform analysis using smart device or using our app anytime and anywhere.

There is immense scope, since there is hardly such technology implemented, especially in hospitals. Talking about scopes: Healthcare remains one of the biggest sectors in the world, holding much potential. 3.5% of GDP in Bangladesh goes for healthcare. The whole population of 160+ million people can take benefit of our solution. However, initially we are targeting 10 million people in our first year and a growth of 15-20% annually. Some benefits include: Patients get to utilize the waiting time at hospital for assessment. It helps to note down the information inpatient's mind. Allows better interpretation of data leading to better prognosis. Helps in maintaining and improving the doctor-patient relationship. It is cost effective and uses the most modern, life changing technologies. 

Healthcare is an arena, where we are directly serving the people. it is easy for us to understand the needs and requirements that people have when they seek healthcare services. We are interviewing people regularly and using these data to design, improve and implement our solution.

We are as well working on our MVP, which is another key method for us to understand and cater to the needs of the people in Bangladesh.

One of the fundamental necessities of a healthcare startup is to have doctors. We have three doctors in our founding team, which puts us ahead in the race. We are well aware of the challenges that people face during hospital visits and as well when it comes to dealing with various physical conditions.

We are developing an AI powered system that will provide real time physical and mental assessments for individuals. Machine learning allows to compatible to communicate with a real human and is trained in a way which allows to logically analyze answers and perform a thorough assessment. 

 

A)Our product includes a blockchain and IoT, Artificial intelligence powered platform. This enables analysis of a patient in a hospital or healthcare setting. We are going to have an APP and a smart hospital device

B) Using a super user friendly interference, a patient can evaluate the present physical and mental health status. Get a thorough overview of the whole body systems; therefore generate a summary. This patient summary is going to provide a lot more information to the doctor during the visit.

C) Digital ID: Our product is a Blockchain based ID. It is a troublesome process to get admitted to the inpatient ward or even to get all the information in the outpatient ward registered. Our digital pass, harnesses the power of blockchain where all the information stored in a safe and secured way. One can get admitted in hospital without wasting any valuable time and therefore paying more attention to people’s lives. 

Our system allows people to get a thorough analysis of their condition through the use of Blockchain technology powered by Artificial intelligence. We have combined the most powerful technologies available to achieve a solution for us.

The Blockchain and AI powered system, does analysis using machine learning and creates a summarized data for the individuals. 

It helps the patient mentally while giving more information to the physiciansThis is an unique concept in the healthcare arena.

Information provided are secured due to the implementation of Blockchain.  AI makes it possible to achieve a personalized assessment . 

Also, our concept of a digital pass is absolutely unique. Till date, we still have to rely on online application or wait in queue for minutes to hours. Through this, we have enabled a seamless process to get registered in seconds to minutes. Our Blockchain creates a profile of an individual which is no less than a global healthcare passport.

We have heard many uses of Blockchain and machine learning. However, we want to use them in a more diversified form in the healthcare arena. We are building a technology which can integrate the power of these two technologies to create a more robust and dynamic solution.

Our concept of the personalized assessment in hospital is an unique one. In addition, we aim to maintain better doctor-patient relationship.

An individual can as well use an associated service to create a user profile, allowing any hospital to get them admitted smoothly.

One of the researches we have conducted has presented with the data above. The research group was licensed physicians( junior to senior level professionals). When we conducted the survey, the resulted had a distinct indication that our solution is going to be of immense help to them.

One of our key motto is to ensure affordable healthcare. AI is going to enable us to ensure superior quality healthcare and as well it will ensure to offer cost-effective, affordable healthcare. Our data findings are consistent with our idea.

We are at the stage of developing our prototype. Hence, we aren't currently serving any number of clients.

However, looking at the figures we are expecting to serve a population of 10million in the first year.

This will likely grow at a rate of 15-20% being a dynamic startup with immense market potential.

In Five years time, we should be able to take the solution to: 20 million people. At this stage, we can underpromise and hopefully over-deliver, over-perform. 

The rate of growth can be much higher and as well allow to cover the whole population within a shorter time, provided we have adequate resources including financies available as we proceed with the project. 

For the next one year, we wish to initially provide to a minimum 10 million people our services.

We want to deploy our services, test our accuracy, obtain more data while ensuring privacy matters. increasing the credibility of our services.

Further to this, we want to as well make our app popular so people have affordable healthcare option in their hand.

In the next five years, we wish to reach to the grass-root level. This is going to be initiated from the very beginning of our work.

Reach a network of:

 402 health complexes at Upazila level.

About 400 health and family welfare centers at union level.
Several thousand community clinics(13,500 approximately at ward level.

We can reach to a minimum of 20million people. Even if we boost up, we can make the service available for 98 million people who are covered by the networks of healthcare centers.

Economic: This is the current main barrier for us to implement and scale up. 

Technological: There is a shortage of these skills globally and as well for smooth operation, we need to be well prepared ahead of time.

Legal: Understanding the regulatory conditions in places where we operate.

Lengthy approval time: The sooner we can get approvals, the better for us.

Economic: This is the current main barrier for us to implement and scale up. Financial challenges are there since we are a startup and we need to restore confidence from investors to get them on board. 

Without enough funding, we are as well having shortage of accessing technological aspects of business.  

Technological: In the long run, we have to be ready to train and recruit and develop a system through which we have skilled individuals in AI/ML and Blockchain. There is a shortage of these skills globally and as well for smooth operation, we need to be well prepared ahead of time.

We are at an advantage though, since we are located in a technology hub of Beijing. As well, from our perspective Bangladesh is the right place to begin with since the ICT arena is thriving.

We need to invest more on the technology and continuously remain updated. In a fast moving world, it is crucial to remain updated with the latest technologies and adapt simultaneously. That's what our plan is.

Legal: Healthcare is a sensitive arena. Understanding the regulatory conditions in regions where we want to operate is crucial. This can sometimes be a challenge.

Lengthy approval time: What we would like to have is smooth approvals and cut down the approval time for different permissions. Lengthy approval time: What we would like to have is smooth approvals and cut down the approval time for different permissions. 

The need for superior healthcare in Bangladesh and in many parts of the world is undeniable. In order to keep up we are continuously studying our the needs in Bangladesh and designing our MVP.

Giving an idea of the initial market size: 

Reach a network of:

 402 health complexes at Upazila level.

About 400 health and family welfare centers at union level. Several thousand community clinics(13,500 approximately at ward level.

We can reach to a minimum of 20million people. Even if we boost up, we can make the service available for 98 million people who are covered by the networks of healthcare centers.

This is the initial market focus we have.

We are currently a team comprising of 9 people at the moment. We also have 3 advisers to support our journey.

Full time members: 7 members.

3- Doctors (MBBS and registered doctors in Bangladesh)

3-Engineers ( Machine learning engineer, Data Scientist, Mechatronic engineer)

1- Business Development manager (China and Bangladesh)

Part time members: 2 members.

Advisers: 3 members.

We have a team which comes from a diverse background and brings in various expertise together.

One of the essentials for a healthcare startup is to have doctors in the team. We are lucky to have three doctors in the founding team. In addition, we can as well share about two of the co-founders. We have AI and Data engineer. Also, we are in the tech hub, Beijing. 

ANM Ashir Ahanaf Ali: Ashir is currently an Engineering student at the prestigious Beijing Institute of Technology, majoring in Mechatronics. He has as well studied Flight vehicle and aerospace engineering prior to this.

His experience includes establishing and running successful startup in the field of agriculture, toiletries and packaging. Earlier in 2018, he has been nominated and short-listed in the GSEA, China chapter.  

Abu Sad Mohammed Arif Ali: Arif holds a bachelors in Bachelors of Medicine and Surgery. He has obtained his MBBS degree in 2017 from the prestigious Capital Medical University, Beijing, China. Arif has one year of experience as an Intern doctor at Xuanwu Hospital, Beijing. He is as well a registered doctor in Bangladesh.

In 2018, he has completed the first part of Cross border e-commerce training. In addition, in May 2019 he represented his startup at an entrepreneurship competition that took place in Shenzhen. 

Following this, in August 2019, MedEch was selected by the UK-China Entrepreneurship competition for the best creator award in Shanghai.

Currently, he is focusing and dedicating his time on the startup Medech.

We are currently analyzing the markets, initially Bangladesh and simultaneously work on the China market. Healthcare being a sensitive arena and needs to abide by the policies from region to region, we are spending a lot of our resources to adapt to this.

We are working with the Haidian Science park, as one of the pioneer Bangladeshi founded ventures in the innovation park. We see a tremendous support towards shaping us as an international Chinese startup. They are currently our incubator and provided us with various opportunities including introduction to multiple resources and instruments.

Our pricing model is based on the idea to keep it absolutely a minimal service. Since people want quality service at affordable cost, but skeptical when provided for FREE. Hence we have a minimum fee which can be as low as 5BDT to 10BDT in Bangladesh. Since there are millions of people seeking healthcare services around the world every day, we hope to reach to people across the globe. Therefore, we have to keep everyone in mind and as well take measures to treat them equally.

We can depend on other alternatives, such as advertisements as well sponsorship. Since we are adopting the Blockchain technology, this enables us to raise our financing through issuing of tokens.

In any case, if we feel there is the need to generate revenue, we can assure that the cost will not exceed 1USD for globally and between 5BDT-10BDT for Bangladesh or even less depending upon a few influencing factors. We can as well give people the choice for paying and not paying. If anyone chooses not to pay, we will sponsor that on behalf of the company and that will be compensated from the company’s revenue.

We want to make it clearly accessing and easy to convey technology and solution to reach across the globe.

One should not be burdened by the cost. Healthcare is a right and we want to ensure it first prior to making business.

The motive is to bring a change to the lives of people of Bangladesh. Which seems to have the perfect rapport with our tagline: enabling affordable healthcare for all.

Tiger Challenge - we consider it as a gateway for us to introduce our work to the people of Bangladesh. As a startup at seed stage, the opportunities that Tiger Challenge is offers seems exactly what we are lacking. That's one of the reasons why we are here.

We also want to greatly spend the investments we receive to bring about a change to the healthcare and therefore the lives of people here. There is much that needs to be done in the arena and with the support of MIT solve, Tiger challenge this can be done.

Having a brand as a support means a lot of the work is already made easy.

The timing when Tiger Challenge is taking place is as well the right time. We have just been incubated by a Beijing based incubator and next year is too long way and as well going to consume lot more time. This year, as Tiger Challenge is taking place is the PERFECT time and the opportunity that we should seize.

We can scale this technology to other countries where there is dire need to adopt such technology and where people can directly harness the benefits in the healthcare arena.

Also, having a big name such as MIT solve and Tiger Challenge means a big thing. 

We can as well develop solutions for the healthcare area together through organization of different programs, hackathon and many more. Develop a spirit of innovation in the hearts of the youth in Bangladesh and elsewhere.

In Bangladesh, we can firstly implement this technology in the district health complexes. 

In addition to this, we can as well cooperate with the public medical hospitals including Dhaka Medical, Chittagong Medical Hospital, etc.

We want to partner with WHO, UNICEF- to implement this technology in various parts of the world including in hospitals. 

We can as well work directly with the Ministry of Health; Ministry of ICT of different countries and implement these solutions.