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Report

Teaser, summary, work performed and final results

Periodic Reporting for period 1 - Chino.io (The Data Security Platform for Health Application Developers)

Teaser

Summary

The digital health sector is growing rapidly, with some estimates predicting the global digital health market will reach $500Bn by 2025 (CAGR 27.7%). However, healthcare is a highly regulated market, and companies developing digital health solutions have to comply with numerous regulations, standards and laws. These cover things like protection of sensitive personal data (e.g. GDPR & HIPAA), cybersecurity (ISO 27001) and regulations like the new MDR. Correctly implementing the required data security and data protection measures is expensive, time-consuming and risky. If you get it wrong you can face penalties including significant fines and even prison sentences.

Despite the conservative nature of the healthcare market, digital health services rely heavily on cloud technologies. The problem is, many digital health companies mistakenly believe that their cloud provider and legal policies ensure they are compliant with all the regulations. In fact, there is a significant compliance gap.

The Chino.io Platform is designed to close this gap and ensure compliance. The Platform simplifies data security and data protection compliance for digital health companies. Our secure API makes it quick and easy to store sensitive health data in a compliant and secure manner. The API is designed to be easy to integrate, offering developers a familiar RESTful interface and multiple SDKs. Our service is the only medical-grade platform for health data and is certified ISO 13485, ISO 9001 and ISO 27001. This makes it suitable for companies needing to be certified under the new EU MDR (medical device regulation).

The Chino.io API is available through a cloud-based â€œas a Serviceâ€ delivery model. This makes the Platform affordable for startups, SMEs and large companies. At the same time this approach gives to Chino.io the possibility to assist companies from an early stage and to grow together over time. We also offer a standalone version of the platform that can be installed in the customerâ€™s own premises or cloud. Overall, the aim of this project is to take the Chino.io Platform from TRL6 through to TRL9, ready for commercial release. The Platform will act as an enabler for open innovation in this key market and will help promote best practice for data security and protection globally.

Work performed

Prior to the start of this project, the Chino team had been working for 3 years to clarify the objectives, requirements and critical milestones for the Chino.io project. This included working with the Vertical.vc accelerator in Finland as well as receiving support from the SMEi Phase 1 in 2017. This meant that at the start of the project, the Chino.io Platform was at TRL6 and was already in early beta testing with initial customers. However, there were some capability gaps and issues with scalability and deployability. As stated in Annex 1, the core objectives of this project are technological scaling up, preparing the company for full commercialisation and providing suitable management and human resources to ensure the success of the project.

Over the past year, the technical team has focussed on dramatically improving the performance of the Platform, taking it to TRL8. Key milestones here included:
â€¢ Creating a containerised version of the Chino.io service that can be deployed on any server or cloud in just a few hours.
â€¢ Improving the performance of the storage and search services by 5x.
â€¢ Moving to a highly-available infrastructure to ensure the Platform will scale up.

Meanwhile, the marketing and business development teams have focussed on preparing the company for commercialisation. Key advances have included:
â€¢ Building a strong brand around the Chino.io Platform.
â€¢ Positioning Chino as thought leaders in this highly-complex market.
â€¢ Creating a strong go-to-market strategy including verifying the product-market fit and identifying the key target leads.

On the management side, we have worked closely with our advisor from the EU Coaching Service. His industry expertise in telemedicine and pharmaceuticals has proved invaluable. Over the year we have increased the teamâ€™s headcount significantly, employing specialists in backend development and DevOps, technical content, legal, regulatory compliance, business development and marketing.

Final results

\"Chino.io is the only Platform available \"\"as a Service\"\" that helps digital health companies in the EU and US to deal with extremely high risks and costs related to health data collection and management. The \"\"as a Service\"\" model makes Chino.io also extremely affordable to small companies, helping them to grow and innovate the healthcare system. As a result, companies are able to deliver faster to the EU market secure, trusted, and high quality digital health products.

The main outcome of the SMEi Phase II project is to bring the Chino.io Platform to industrial readiness and prepare for its wide market penetration. This will bring key benefits to our stakeholders and will position us as the clear leader in the European market for digital health data security and protection.

The project will improve customer attraction and retention, decrease the selling cycle costs and consequently enable us to become the key enabler for digital health innovation in Europe. This will allow the company to generate 60 new high-qualified jobs in Europe and expand to new sectors from 2022.

From the start, we have believed that everyoneâ€™s health data should be safe. Overall, we will achieve this by significantly improving the security and privacy of digital health products, educating the market and providing affordable solutions to these complex problems.\"