Just for a second, I want you to imagine your morning routine. Okay? Now I want you to imagine doing all of that again, except you wake up and everything is pitch black. You can't see. Suddenly everything that has seemed easy all of your life. Writing, walking, driving, showering is now an impossible challenge. Unfortunately, this is the case for over 2.2 billion people worldwide. That's more than one corner of the entire human population at six times the population of the United States. And of these cases, at least 1 billion could have been prevented. This closest three major social implications. What visual impairment causes reductions and worker productivity and increases in medical expenditures, as well as lowered labor productivity, resulting in an estimated $411 billion in annual global economic losses to quality of life scores for those affected have plummeted from an average score of 90 to 61. This means that there is a clear negative correlation between visual impairment and well-being. And three, this why did the implications wireless socioeconomic divide, secreting the developed and developing nations? So what's currently being done to address this problem? Current diagnostic tools are expensive, bulky, and they require medical professional help. That has taken them years of experience to get. This leads to diagnosis that diagnoses that are Wally and for otherwise preventable optical diseases. To clarify the promise that the access to low-cost treatment options. But rather it's the lack of accessibility with the screening procedure. To address the problems associated with current diagnostic tools, we've created an ocular and affordable, accessible and global optimal logic diagnostic system and give that over 80% of populations in developing countries have access to mobile devices. Users are able to utilize oculomotor easily and comfortably diagnose over 50 optimal optical diseases within a few seconds. Utilizing AAC yellow is a three-step process known as sac screen analyze. First screen utilizing our whose proprietary lens technology, users will be able to magnify it and examined the retina utilizing any smartphone camera. Next, analyze using the images generated from the screen process, users are able to analyze their diagnosis and view visual markers of the diagnose disease. Lastly, connect our mobile app offers the opportunity for users to connect with local clinics and physicians in their area for treatment. And lastly, this mobile phone app can also send real-time data to governmental agencies and humanitarian organizations, thus allowing them to reallocate the resources to the areas most in need. Oculus lens attachment features, a 2D axis and interchangeable light sources, allowing for compatibility with a wide variety of mobile devices and Oculus flagship software algorithm features of pre-processing algorithm that eliminates lens, lens distortions and a deep learning algorithm that's able to diagnose 50, 50 of the most prevalent ocular diseases with a 99.2 or 3% accuracy. Ok, yellow is compact, it's portable and it's convenient, which allows a high accuracy for diagnosis. And it is vital in this, in this market where there hasn't been anything comparable. Additionally, the one thing that sets ocular part is that you lose the first entry in the mobile phones, often to scopy market, meaning that we gain access to a wealth of data. Now continually improve or deep learning algorithm didn't know long-lasting and self-sufficient system that will be in comparable to any future market entrants within our serviceable, addressable market of 2.2 billion, we expect to target clinics and communities, giving us a total addressable market of 470,000 clinics and communities. By 2028, we expect to reach 115,000 clinics and communities around the world. Oculus has been released. We aim to hit the market by first beginning with retail in developing countries, then moving to clinics and hospitals and finishing with governmental and non-governmental agencies, we have an aqueous 10% profit margin is selling price of $23.70. A revenue source stems from the hardware solution sales and the monthly subscription fees for the soft software, we project a 42% average annual revenue gross growth rate. And after accounting for fixed and variable costs, we expect that ocular will break-even in generating positive net incomes after four-and-a-half years of operation and an effort to avoid the excessive FDA regulation. We are going to clear OK, yellow as a, as a class one medical device. And also implement educational tools as resources to help the globe understand what Oculus is and why it's vital to this problem as a solution. To validate our problem and solution. We've worked with international organizations such as the CBA foundation in the Doctors Without Borders were the doors their product and agreed to help us do Regulatory Affairs. I'm Taylor, I believe. And I'm just saying we're OK. Let's see the future together. What got you guys interested in this work started? I can't answer this question. So I babysit my family and my neighborhood and I've been babysitting them for forever. And they had a newborn and she had cataracts and the family was going through a lot. And so I was there like babysitting or other kids as they were taking care of their newborn. And I kind of just got me interested in eye disease. I'm hoping to major in neuroscience when I go to college. And so it was kinda just like looking into the medical field anyway. So this is a good excuse for me to look into eye diseases. And I came across this kind of issue. I contacted them because the reference I was like, hey guys, have an hour here. So sorry, let u equal to collect images today using using your lungs. Yes, so basically our software has been validated. We trained our data model with the RFID database, which is provided by the government, along with data acquired from these organizations. So that process works and we're in preliminary trials which you guys can actually see the results and the file with testing the lens attachment as, you know, end-to-end system. And we are worried able to get it pretty good accuracy out of that same like 99 to 3% accuracy. So we're still finalizing the lens attachment to make it more modular and compact. But yes, it does work. So you said 23, 70 was the cost for this software and for this lens. The lens, like the hardware component that you didn't touch on is 23, 70. The monthly subscription fees on or just like added on afterwards just because this is gonna be run on the Cloud due to processing problem. But the amount of processing that is needed, I mean, it's just more efficient. Usually. Today it's like a $75,000 device that they use to dig at what angle using the retina. If you're turning that into $123 lens that uses a phone, that's, that's amazing. What are the challenges? And, and I guess comparing the quality of that device versus how the retina is normally examine today. So the biggest problem we have with this is we want to allow compatibility with a wide variety of mobile devices. So catering to each mobile devices, cameras specifications is biggest problem we're having, but we're working with professors at Georgia Tech and Emory, Georgia Department of Biomedical Engineering team member. On the right. He is the one who is our optics engineering guy. So he couldn't be here today, but he's working with professors right now to get that finalized. Your respect and equality to be at a point where again, it doesn't have to be apples-to-apples your ideas, you can bring this to more people and highlight disease and are readily than you would at a doctor's office. Yeah. And I think it's important to note like we've kinda had this question throughout this process about causing fear. Like what if it's wrong because it's not, it's $23 versus, you know, that's a lot. But anyway, yeah, it can be kind of scary because what if they diagnose wrong? The idea with this is, it's not a treatment, it's a diagnosis. And so we're trying to open that diagnosis up to people who would otherwise not know that they have a problem and then they have late-stage issues that can't be fixed and then they're blind. So right now we're working to make that an option and that's kinda where this whole thing came from. So as four, if it can be comparable, it can. And if in the event that something did happen where it's not accurate, it's always being sent to somebody who has a medical degree. So this is just a preliminary step.
2023 Diamond Challenge Summit-8-Oculo
From Robert Diiorio April 29, 2023
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