ICE member and ‘Acceleratee’, Tendertec recently won a pitch-off competition at the NatWest Entrepreneur Meet Up event on the 25th May. We spoke to co-founder Afroditi-Maria Konidari to find out a bit more about the startup..
What is Tendertec?
Tendertec is harnessing the power of Artificial Intelligence to help senior citizens stay healthy, safe and independent.
In the UK, 1 in 3 seniors currently live alone, with a growing number of them choosing to live at home for longer. Their quality of life is directly related to the safeguarding that maintains wellbeing and autonomy. As we age, we are far more likely to develop health issues, but with effective support, unpredictable events such as falls which are a leading cause of long term injury among seniors, can be alleviated.
Tendertec is developing a home sensing system which accurately detects and gradually predicts falls and harmful conditions to help senior citizens stay safe and give their families a peace of mind.
Where did the idea come from?
Living hours away from home and as our parents have begun to enter old age, we realised we needed to find ways to help them stay healthy and safe at home without limiting their independence and dignity.
We felt we could not trust our parents to the current state of the industry. Our research showed that rising care costs and existing ineffective technology solutions add to this challenge.
We realised that our parents need a solution which allows them to go about their daily activities at home as usual and assist them when needed such as in the event of fall.
And that was the moment the idea behind Tendertec was born.
Who is Tendertec for?
Our technology is developed by families and for families to use.
Tendertec’s system assists senior citizens to live independently and stay safe in their own home.
At the same time, we work to provide families with peace of mind and keep them connected to their loved one. Knowing that if harmful situations or unusual activity happens, it won’t go unnoticed.
How has the idea developed?
Sitting down with seniors and their families to understand their needs, lifestyles and challenges has been integral to the development of our idea into a system which is non-intrusive and discreet, yet is there to assist you when you need it.
The application of technological breakthroughs in artificial intelligence are allowing us to take our idea a step further and into the prediction of falls and harmful conditions to support an old, but mostly reliable, maxim for public health policy “prevention is better than cure”.
What sets Tendertec apart?
Existing technology focuses on wearable products – wrist bands or pendant alarms – and furniture embedded sensors which can be challenging to maintain. And more importantly, can be seen as ‘badges of age’, requiring users to live with them as an unwelcome restriction to their daily activities.
At Tendertec, we are creating room sensing systems that learn and adapt to individual lifestyles while working quietly in the background – part of the furniture.
How did you prepare for the pitch-off?
Knowing our audience was the first step. Pitching to investors is very different from pitching to users or potential collaborators. Keeping this into perspective and understanding we have approximately less than 150 words to explain our idea were the determining factors which guided us to structure our pitch and use the right tone of voice.
How has the ICE Accelerator helped on your journey?
Joining the ICE Accelerator pushed us out of our comfort zone in order to pivot and grow in ways we had never anticipated.
Pushing boundaries, thinking outside the box, and staying on a strict diet of “understand, try, fail, learn and pivot” has allowed us to grow. In just over five months we have grown our team, established key partnerships in the sector and are in the process of securing funding for our next round of development.
For more details about our journey at the ICE Accelerator, read our previous article at Boma.
Do you have any advice for others looking to pitch a business idea?
– Keep it simple, concise and memorable. Your audience will only be able to take up and remember two to three key points.
– Avoid jargon and complex concepts. Unless you know with certainty you are pitching to a specialists’ audience, your pitch should be able to convey to your nan what your business is about.
– Practice makes perfect. Expect to practice your pitch a minimum of 50 times before it becomes second nature to you.
About the Author:
Afroditi-Maria Konidari is the cofounder of Tendertec.
If you have a family member that is at risk of falling in their home and would like to participate in the development of our new product, please email Afroditi and introduce yourself. If you have questions or just want to say hi, she’d love to hear from you at email@example.com.
Follow Tendertec Today!
Visit our website: www.tendertec.co.uk
Twitter: @tendertec, twitter.com/tendertec