⏰ TL;DR (Too Long; Didn't Read)

💡The Idea

• Stress is a major contributor to many secondary conditions. However, today it is not effectively quantified , leading to difficulties in management and diagnosis.
• On a clinical level, properly diagnosing stress and relevant neurological conditions requires portable and easy to use equipment.
• Risorious developed rule-based algorithms that analyze and interpret physiological and neurological signals collected by personal monitoring devices (e.g., watch, ring) as well as from a EEG device
• The company offers two solutions:
• Agora Lab, a “co-pilot” application, which will enables users to receive proactive, personalized stress management notifications, advice, and recommendations
• An advanced and portable EEG device and software (in advanced development). This wireless 6-channel EEG will be used for monitoring neurological and psychological for people suffering from disorders such as YIPS, dementia, and depressive disorders.

🥇Benefits

• Real-time stress monitoring and analysis with near-zero logging for daily life
• Personalized, actionable insights for stress management to promote longer longevity and better quality of life
• Improved diagnostic capabilities for medical professionals, including early detection and intervention for various neurological conditions
• Provide objective evidence for assessing brain-related activities and screening of psychiatric disorders by quantitatively analyzing brainwaves
• Accurately follow up on treatment processes to develop new therapeutic strategies

💵Business Model

• B2C Wellness App (Agora Lab):
• Monthly subscription model
• D2C sales to users for stress management
• B2B2C Medical Device (EEG):
• Discounted monthly fee or revenue-sharing
• Sales to wellness providers and coachers. Initial usage cases include:
• Cognitive Function and Dementia Monitoring
• Emotional Function and Depression Assessment
• YIPS Monitoring
• Worker Safety Helmets
• Student Concentration Check for ADHD

🌎Market data

• According to the WEF, poor mental health cost the world economy an estimated $ 2.5 trillion in 2010, which is projected to increase to $ 6 trillion a year by 2030 (source)
• Organizations in the United States spend nearly $300 billion annually on health care and missed workdays as a result of workplace stress (source)
• The global mental health apps market size is expected to reach $17.5 billion by 2030, growing from $6.2 billion in 2023 at annual rate of 15.2% (source)
• The global stress management treatments market should reach $20.6 billion by 2024 (source)

🚀Status

• Agora Lab App
• iOS version for people with Apple Watch under App Store review, expected release in July 2024
• Android version in development, expected release in August 2024
• English and Korean dual-language app
• EEG Device
• Current 32-channel research version in use
• 6-channel portable wireless version in development, expected release to production by Q4 2024
• Research
• 60+ EEG analysis pipelines/biomarkers established
• Large-scale study (N=1000+) in collaboration with major hospitals established
• EEG node reduction achieved (from 19 full channel to 6 channel without loss of information)
• Team
• Interdisciplinary team with backgrounds in medicine, AI, neuroscience, and hardware engineering
• 2+ years of collaborative work experience

📋Regulation

• Current focus is on the non-regulated wellness sector
• Future plans include pursuing a FDA Class I medical device approval (timing TBD)

📣Promotional materials