Mendi Neurofeedback SIGNED

Project "Mendi Neurofeedback" data sheet

The following table provides information about the project.

 Partnership

Take a look of project's partnership.

Map

 Project objective

Neurofeedback methods use brain training techniques coupled with direct imaging of neural activity to improve brain function, but current approaches are limited to expensive clinics, or low accuracy consumer products. Co-founders Sammy Saldjoghi and Rickard Eklöf started Mendi in 2018 to bring the most advanced neurofeedback imaging techniques and training methods, used in leading clinics around the world, into the consumer market. Our system has two elements. A proprietary headband with advanced sensors that measures brain activity in the prefrontal cortex. A mobile app then abstracts the brain activity to a score. By training using a game to consciously control the score, users improve the control of brain activity in the prefrontal cortex. This revolutionary approach democratises neurofeedback, with a unique consumer system for unlimited home use, at a fraction of clinic prices (€500 vs €15,000). After a successful small-scale pilot of our first-generation product - first sales were in April 2019 – we are preparing our production line for market entry in the consumer market by the end of 2019. Our second-generation product will extend the functionality of our product to a wellness-as-a-service platform, linking to healthcare and wellness sector leaders. This project will evaluate aspects of the feasibility of this approach, identify target market segments, engage early-adopter customers, update requirements, and refine go-to-market strategies, plans and funding requirements. We anticipate €35M annual revenues and 170 FTE by 2025. Scaling from B2C to B2B and B2G will disrupt mental healthcare, create new markets and generate a potential long-term €1B share of a €80B total global market.