MindAffect

Company Overview

MindAffect is a Dutch company specializing in brain-computer interface (BCI) technology, artificial intelligence, and neuroscience applications. Founded in 2017 as a spin-out from Radboud University, MindAffect is located in Ede, Netherlands. The company’s core focus is on developing innovative hearing and vision diagnostic systems using their patented BCI/AI technology.

MindAffect’s mission is to unlock the mysteries of the brain and apply this knowledge to create practical solutions for medical diagnostics. Their unique approach uses brain response analysis to enable fast, accurate, and objective testing, particularly for patient groups that are difficult to test using traditional methods.

Products Overview

MindAffect has developed two main product lines:

1. Aurora Hearing Diagnostic System: This is an objective, fast, and easy-to-use system for hearing diagnostics. Key features include:
   • 8-channel headband worn by the patient
   • Patients listen to soft chirps while watching a silent video
   • Full audiometric threshold results produced automatically in under 10 minutes
   • Combines air conduction and bone conduction tests for comprehensive diagnostics
2. KinderCap: This system is designed to test pre-school children for both hearing and visual impairments in a single, objective test. Features include:
   • Combines auditory and visual stimuli
   • Produces hearing/vision results within 10 minutes
   • Aims to eliminate guesswork and uncertainty in early diagnosis

Additionally, MindAffect is developing a Workload Monitoring system that can objectively measure a patient’s required effort to hear in difficult situations. This technology has potential applications in optimizing training protocols, determining work stress levels, and improving hearing aid fitting efficiency.

Founding Team

The company was founded by a team of neuroscientists from Radboud University, inspired by Prof. Peter Desain. Key members of the leadership team include:

• Jennifer Goodall - CEO
• Oscar Portoles, PhD - Chief Scientific Officer
• Mark van Kesteren - Chief Technology Officer
• Marten de Vries - Head of Software

Problem and Market Fit

MindAffect addresses significant problems in hearing and vision diagnostics:

1. Hearing Impairments: Unaddressed hearing issues can lead to earlier onset of dementia, social isolation, and sub-optimal educational development. These problems cost over $1 trillion in education, societal, and care costs.

2. Hard-to-Test Patients: Over 2 billion patients, including children, disabled individuals, and the elderly, are often excluded from traditional diagnostic systems that require consistent patient responses.

3. Childhood Impairments: More than 15% of pre-school children suffer from hearing and visual impairments. Early diagnosis and treatment are crucial for their future development.

MindAffect’s technology aims to provide objective, rapid, and accurate diagnostics for these underserved populations, potentially revolutionizing the field of auditory and visual testing.

Business Model

While not explicitly stated, MindAffect’s business model likely involves selling or leasing their diagnostic systems to healthcare providers, audiologists, and vision care specialists. They may also generate revenue through ongoing software updates, maintenance, and support services.

Funding and Runway

Specific funding details are not provided in the available information. However, the company has received support from several institutions and organizations, including:

• NLC (Europe’s healthtech venture builder)
• Oost NL (East Netherlands Development Agency)
• Rabobank
• ALS Netherlands Foundation

MindAffect has also been recognized with awards and support from programs such as:

• ALS Prize for Life
• TechLeap.NL’s Pole Position program
• Marie Skłodowska-Curie Actions (MSCA) program
• EUREKA network

Competitive Landscape

While specific competitors are not mentioned, MindAffect operates in the medical diagnostics and brain-computer interface markets. Their unique approach using BCI and AI for hearing and vision diagnostics likely sets them apart from traditional diagnostic equipment manufacturers. However, they may face competition from other innovative medtech companies working on similar non-invasive diagnostic technologies.

Customers

MindAffect’s potential customers include:

• Hospitals and medical centers
• Audiology clinics
• Vision care specialists
• Pediatric care providers
• Research institutions focused on neuroscience and sensory processing

The company has established partnerships with several academic and research institutions, which may also serve as early adopters or customers for their technology:

• Radboud University and Donders Institute
• University of Groningen/UMCG
• Hoerzentrum Oldenburg
• University of Magdeburg

Relevant News

• In April 2023, MindAffect announced the development of their Visual Acuity Prototype, expanding their diagnostic capabilities into vision testing.
• The company has been actively participating in scientific research and collaboration, as evidenced by their partnerships with various academic institutions and inclusion in programs like MSCA and EUREKA.

MindAffect’s innovative approach to hearing and vision diagnostics, combined with their strong scientific foundation and partnerships, positions them as a potentially disruptive force in the medical diagnostics industry. Their focus on objective, rapid testing for hard-to-test populations addresses a significant unmet need in the market.