Crowdfunding and crowdsourcing – Social Business Creation

CROWDFUNDING AND CROWDSOURCING’S PLATFORMS

	Crowdfunding	Crowdsourcing
Online
	2,300 CAD	1 doctor
Offline		& others
	500 CAD	9 doctors

For more information about the offline campaign, please reach out to us at [email protected]

THE ASK AND THE CAMPAIGN’S RESULTS

Our backers:

Vietnamese radiology and neurology doctors:

These doctors help us because Brain Analytics can provide them a tool to support their work in diagnosing Alzheimer’s disease. As we needed feedback from these doctors to create the most suitable product for our customers, we paid 8 CAD for a 30-minute feedback session online per doctor. The feedback on the necessary of our website features and their demands were collected verbally during the online session and quantitatively through Google Form.

Angel investor – Tech Planter:

These investors want to make a big impact on society by reducing the overload problem at hospitals in big cities and also see the potential of our business to grow stronger with a good profit in the medical field. We gave them a prototype on the demo day. Since our product can fulfill their needs, we received decent financial support from them to take care of the technological problems.

Angel investor – Ho Chi Minh International University:

The university wants to promote the students’ research activities to be realistic and useful for the community. Our project has the contribution of several Biomedical Engineering students, studying at the university, and has a great potential to penetrate the market. Thus the school gave us money to conduct market research and develop the product.

Vietnamese government:

The government seeks projects that can potentially contribute to the development of the country in various fields, including healthcare, and also motivate other scientists to continuously inventing ideas. We offered them a prototype that is useful for our citizens’ health. They give us money to build the product (database, system, and customers). The two potential investors are the Department of Science and Technology and the People’s Committee Ho Chi Minh city.

Local hospitals:

The hospitals’ board makes a contribution to this project as they are in need of a solution to solve the overloading situation at their organization at an affordable cost. Brain Analytics offers them a useful tool to fulfill their wish. In return, they will collaborate with our team in building a database, and conducting market research on their patients with a fair deal.

Our results since June 2021:

Crowdfunding:

We received approximately 2,300 CAD from Tech Planter and over 500 CAD from Ho Chi Minh International University with 0% equity. This money can help us start building the Vietnamese Alzheimer’s database to test and improve the accuracy of our technology.

Crowdsourcing:

We invited 10 radiology and neurology doctors from 6 different hospitals in Vietnam to participate in our prototype testing phase. Instead of paying 120 CAD for one medical expert to give us feedback, we paid our participants a total of 80 CAD to get various unbias opinions.

For more information about the online prototype testing, please check out this video or contact us at [email protected]

Before June 2021, we received the Consolation prize at Ho Chi Minh Artificial Intelligence 2020 (HAI) competition with the value of 2,000 CAD.

Ongoing campaign:

Crowdfunding – Financial support to build a database and system:

People’s Committee: We are currently the finalist for the Creative Award 2021 (1 of 52 projects chosen from 193 projects). The organizer will film us on HTV9 (Vietnam’s channel) when the Covid-19 pandemic is over. The result will be announced in July 2021 and the prizes are varied from 4,400 to 11,000 CAD.

Department of Science and Technology: We submitted our application in June 2021 directly to our university (offline), which will nominate us to the Department of Science and Technology if there are no errors in the application. The grant will be worth 100,000 CAD if we are accepted within 2021.

Crowdsourcing – Collaboration:

Local hospitals: Our International University nominated us to 6 hospitals in different provinces in Vietnam. With this support, we will have the accessibility to hospitals to conduct market research, build and test our database on real patients, and guarantee to be the first customers. The nomination letter is already signed. Due to the Covid-19 lockdown, we cannot go to the university to take that document and scan it as evidence. Please refer to this file as a reference of what the nomination letter looks like.

Upcoming plan:

Crowdfunding & crowdsourcing – International investors and doctors:

Europe: Our team member, Pham Thi Nhu Trang (leader of the project in the SBC competition), received Ernst Mach Grant from the Austrian government in July 2021. This will allow us to approach the investors and doctors in European countries, especially in Austria, Germany, Italy, etc. . After the market research, we expect to get some collaboration from overseas or at least understand the market to create a suitable strategy for our business.

OTHER INFORMATION

Brain Analytics was co-founded by three experts in neuroscience, AI, and image processing. Dr. Ha Thi Thanh Huong is one of the co-founder of our project and also the advisor of our team in the Social Business Creation 2021 competition. Besides, Pham Thi Nhu Trang is a senior student and in charge of the Business department for this project.

ARTICLES ABOUT BRAIN ANALYTICS

Svvn.tienphong.vn: “An Alzheimer’s diagnostic software invented by teachers and students from HCMIU won the international prize”, read in Vietnamese or English

Tuoitre.vn: “Early Alzheimer’s diagnosis”, read in Vietnamese or English

Tuoitrenews.vn: “First Vietnamese researcher receives Early Career Award from International Brain Research Organization”, read in English