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11th CavinKare-MMA ChinniKrishnan Innovation Awards 2022
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CKIA-MMA/2021/5/1624632315050
25 Jun 2021
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Your innovation in brief
We are working on Patented Adhesive Non-surgical Hearing Aid. No More children need to drill their skull for Hearing. Overcome all the disadvantages of Implantation surgery by providing an Adhesive non-surgical hearing aid. 1.Avoid implantation surgery. 2. Highly cost-effective(Over 900USD). 3.Suitable for all ages. 4.No restriction for using (smartphone, immigration, taking MRI).
Describe about your innovation
Problem. The problem we will solve will have an impact on the lives of 365 million children. Breaking the Barrier to Hearing Aid Implantation Through Open Skull Surgery Patients with total hearing loss and hearing loss due to birth should avoid implant surgery. 1.Total and By birth hearing loss patients presently require cochlear/Hearing aid implants which demand open skull surgeries. 2. Can’t take an MRI. 3. Must do within five years. 4. Unable to use a smartphone. 5. High Cost(Over 15,000USD). 6. Not 100% Success Rate Solution. 7.Meningitis (infection of the fluid around the brain). Solution We are working on Patented Adhesive Non-surgical Hearing Aid. No More children need to drill their skull for Hearing. Overcome all the disadvantages of Implantation surgery by providing an Adhesive non-surgical hearing aid. 1.Avoid implantation surgery. 2. Highly cost-effective(Over 900USD). 3.Suitable for all ages. 4.No restriction for using (smartphone, immigration, taking MRI). The Business model we are going to follow is B2B, B2G, B2B2C. The B2C Consumer market provides Adhesive Non-surgical Solution, Accessories. In B2B2C Customization services like Cross-selling, White labeling, Pilot order, and App Customization. . The Market price of the product is 45,000 INR at a minimum margin. Implantation costs around 15 Lakhs INR in India. Only under the Indian government's ADIP scheme is the cost around 10 Lakhs INR, but it is not affordable to everyone. Even though the Indian government is working hard to assist people, because the costs are so high, more people are not benefiting. Due to the high cost, only about 300 people benefit from this. If our solution costs around 45,000 INR, 100K people across the country can benefit from it per year. India Mainly going to follow the B2G Business Model under the ADIP scheme in India. In collaboration with various organizations such as Medical Universities, Corporate, Accelerators, and Governments, we planned to expand our company to the US, UK, Australia, Africa, and South Korea. Revenue Streams: Direct selling to consumers at a market price of 45,000 INR on a minimum margin is one of the revenue streams. NGO Activity and Crowdfunding Campaign
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