28 Sep Peili Vision helps stroke patients through virtual reality
The Scale-up Denmark Medtech & Healthcare division, managed by Accelerace, aims to help start-ups minimize risk by focusing time and resources on critical issues and prioritizing activities using personalized issue trees and lean/agile business models.
Among the chosen few start-ups in the accelerator is Finnish Peili Vision who has created a virtual reality platform to be used in neurological rehabilitation. The technology is for instance used in stroke rehabilitation.
Meet the Peili Vision team in this interview about their startup and their participation in the medtech & healtcare accelerator.
Describe your startup in a few sentences:
Peili Vision was founded in 2015 based on the idea of helping people in their rehabilitation process with by utilizing Virtual Reality (VR) advanced technology. Our mission is to improve the neurological rehabilitation process with our VR solution. The application allows the therapist to create unique training environments customized to the patient’s rehabilitation needs. The whole rehabilitation process can be improved by collecting and analyzing data.
How did you get the idea to start your business?
Our CEO’s and founder Jussi’s wife is a speech and language pathologist and saw the distraint in the field because they do not have enough resources to help the people in need currently in Finland. We sat down and figured that there have to be better ways to connect new technology and rehabilitation. And of course, since we are all gamers we wanted to use the latest technology – virtual reality. First, we developed a short demo and presented it to a professor and professionals in the field. The feedback we got was encouraging and we started to develop the demo into solution according to the actual needs in the field.
How does your product/solution work?
Our solution in practice is a virtual reality software used with a virtual reality headgear and a tablet. The patient wears the headgear and enters a virtual world designed by the therapist. Exercises in the VR environment are customized to the patient’s rehabilitation needs.
We aim to increase patients motivation and exercise time, without increasing the amount of work for professionals. For the therapists we offer digital shareable content, decreasing the time needed to prepare for each session. Also, we are currently piloting remote therapy solution in Finland, removing the burden of logistics for the patients and therapists.
Why did you apply for the accelerator?
We wanted to get access to international experience in medical device and healthcare sector – get hold on advisors who have been there and gone through the same process with success (or failure!). In our team and advisory board we have strong knowledge of entrepreneurship and rehabilitation in Finland, but we are lacking in the field of medical devices. That kind of expertise is hard to find and we saw a great opportunity in Accelerace.
What impact has your participation in the accelerator had for your growth opportunities?
In the beginning of the accelerator, we had a workshop where we got a thorough review of our past, e.g. what we have done and why, all major decisions gone through again. It was a good retrospective to form a base for future decisions. Now we are forming stepping stones and roadmap on what is needed for a complete scalable business model.
What is your key learning so far from your journey in the accelerator?
Dynamics of medical device markets – what is a must and what you need to avoid.
Who’s in your founder team?
Jussi Auvinen – CEO, M. Sc. – Tech. Entrepreneur since 2013. Innovator and inventor. Previous background from direct sales.
Joonas Pöllä – CFO, BBA. Expertise in sales at the banking industry. Also strong knowledge of handling family fund. Handling all the new sales in Finland.
Mikko Kontio – COO, M. Sc. – Tech. Handling operations in global sales (mainly Nordics) and other operations (SCM & QM).
Timo Nivala – CTO, 7 years of experience at Virtual Reality development. Also partner at startup called Collaprime (Virtual reality for building design).
Hannu Kallio – Head of Graphics, Graphic artist who also has knowledge and experience about game development.
Current number of employees: 10
Year Founded: 2015
Website link: http://peilivision.fi/