Thriving.ai
- United States
- For-profit, including B-Corp or similar models
Thriving.ai is a digital app addressing the issue of older adults living healthy independent lives supported by its network of tools, family, and services in one app.
Our world is ageing globally where by 2050 there will be more than 2.1 B people over the age of 60. The emerging markets are also fast heading towards the tipping point where there are more older adults than children 15 years and younger.
People are living longer but not in good mental and physical health. Managing chronic disease and the everyday living needs of older adults requires qualified caregivers. There is a massive shortage in the western world and in the emerging markets many family caregivers must travel further from home for work. This is putting a strain on family and the government, and many elders are left in poor health without their care needs met.
Elders suffer from loneliness & isolation described as being bad as smoking 15 cigarettes a day – a killer. The need for daily monitoring and management of health vitals, mood and social engagement are key to wellness. The array of digital tools and gadgets are many but often inaccessible due to complexity of technology, cost, and access to the right practitioners. Thriving.ai responds with its solution. Simultaneously, family caregiver anxiety and stress are leading to increased cost for their healthcare and to a loss if 1 in 3 employees from mainstream employment due to caregiving duties, costing employers $86 Billion per year in the USA as one example. The issues around ageing and caregiving are a global phenomenon that is set to increase and worsen over the next two decades with 8 out of 10 elders coming from the emerging markets.
Thriving.ai is puts the elder care recipient at the center of the solution surrounded by their circle of care (health professionals, caregivers, family) and it provides the tools necessary to manage an elder Persons own health and wellness parameters with the option to share these with other members in the circle. The platform also provides health checks for caregivers, resources for all members and access to a mood chart to ensure people are kept healthy and independent for as long as possible.
Interactions with the app are encrypted, GDPR & HIPAA Compliant and are collected in the Thriving.ai backend. Organizations that subscribe to the services have a superuser admin who is designated with rights to see the full data with personally identifiable names, but all others only see anonymized data points that when pooled together provide deep population-based insights to improve care and management. The data can highlight areas needing attention, as well as flag trends in deterioration that provide opportunities for risk mitigation activities to prolong health and wellness.
Thriving.ai is a digital application that works on mobile phones and tablets to allow care on the move.
The app centers around the care recipient who is surrounded by 9 care circle members that comprise, family, caregivers, allied health professionals, a community nurse, social worker custom configured to what the recipient’s needs. Within this circle of care, the care recipient and circle members can communication one to one and one to many via text, voice call or video call. The circle members are designated a role that if appropriate allows access to receiving the mood report daily and the recipient can also share their health & wellness score. This allows the senior to be confident that they are well, connected and that their loved ones know that all is well. It also provides reassurance that if something is not right, their care circle members will be notified.
Within the circle there are other features to access - learning journey’s, blogs, resources, photo sharing, and a digital care plan. When a member sends an update or the care recipient checks in, those designated to receive alerts will receive a notification. Members can also share messages related to care and areas of mutual interest. This keeps the senior connected to the outside world, builds security that someone is looking out for them and provides the opportunity to learn and experience new things.
VICI our Companion Chat Bot is enabled in text and voice to ask questions following a check in. When activated, VICI takes the senior through a mood reporting journey to understand the senior's situation for example a reporting of sadness will guide the senior to perform a health check, decide to go through a learning journey, share a photo or reach out to a circle member. If after the health check any parameters are out of the norm, a member of the care circle will be contacted.
VICI can also be activated whenever the Thriver wants to ask questions or needs help from the home screen.
The app can connect a Smart Watch and in-home IOT pressure, movement and contact sensors to monitor activity, inactivity, and our smart plugs monitor use of certain appliances to provide more detailed and helpful set of data where appropriate about the seniors activities or lack thereof. The senior user has access to their mood, health, and wellness data and their trends, so that they also can understand how they are doing.
Through our pilots we found that caregivers suffered similar experiences of loneliness, isolation, lack of contact and no time to take care of themselves therefore as part of our solution we enable them to track their own mood and their health & wellness score.
All the data is captured by our back end. For organizations that subscribe we setup access to a dedicated dashboard for their patients. Within our roadmap we will in the future provide a monthly summary for every user. Demo: https://drive.google.com/file/...
Our target population is the aging older adult with caregiving needs and their primary family caregiver. Aging older adults often suffer several chronic diseases, require support to live independently as their abilities become more challenged.
Most times the primary caregiver is (70%) female, of working age juggling, life, marriage, young children, career progression and financial security. Peace of mind is key to mitigate against the negative effects of stress on their own health and wellness.
For both these personas life can become overwhelming, stressful, and lonely. Older adults can’t get to events and their circle of friends declines due to age or death and the “to do list” takes the caregiver away from any time for socialization.
This is where Thriving.ai comes in. After 2 years of discovery and concept testing with over 35 older adults and 30+ family caregivers, advisory and advocate organizations including AARP we built the MVP and tested it, iterated and the app is now live and working.
During testing and iteration what we repeatedly heard was:
1. Older adults can’t use tech. True in as much as the tech is not designed with them in mind. It is either designed for mainstream use or dummied with one large button. If the tech is designed in consultation and for their visual, UXUI experience in mind then the number of older adults that can use tech rises dramatically to almost 90%. Our initial pilot proved this showing us that they could use the tech and that they could hack the tech to get what they wanted.
2. That there are several solutions, even too many that can help support them however they don’t have the time, the capacity, and the affordability to sign up to 6-7 apps. They wanted an app that brought an integrated approach of the most important things to you in one place where everyone honed in. This was echoed by their caregivers.
Thriving.ai differentiates itself by bringing a unified platform for care recipients and caregivers that brings monitoring, care coordination and communication and everyone that is involved in their day-to-day care together in one place. Additional features and resources are available on the app for care recipients and families to choose from and customize providing the choice that this segment needs.
3. Affordability and accessibility needed to be addressed. Our application was designed and tested with older adults and their caregivers, so they had a voice in it. They wanted a colorful vibrant design. Additionally, they wanted ease of use without feeling that the app was oversimplified. We did that and lastly, they wanted an app that they could afford which we are working towards to keep the costs down. We offer a freemium version to ensure inclusivity and a premium version.
4. We are training VICI our chat bot to interact in voice to enable further access. Our roadmap is looking at ways in which we can continue to increase reach.
5. Data- there is little actionable data available which we collect.
We have an experienced multi-ethic, intergenerational, global and gender balanced team by design. As the founder, Shain (Indian, British, Canadian), a Physical Therapist, serial entrepreneur, designer of social impact business models and a caregiver. I have lived globally and dedicated 20+ years of my working life to work in conflict zones to help bring opportunity and access to the poor and enable them to become integral to sustainable solutions to poverty (). During my time in Afghanistan and Syria I was caring for my in-laws and my parents at distance as they aged. After losing three of them and finding my mother after 9 hours on the floor because of a fall that changed our lives forever, I realized that there was a gap in thinking holistically about aging and care. I was competent in my knowledge of what was needed and where to get services and products so I could manage but others kept calling for advice and ways in which they could manage care, their own stress, their guilt for the loneliness that they could not fill entirely. This led me to two years of discovery and design with two team members who had experienced similar issues.
Karim, the co-founder is of Indian descent and from apartheid South Africa, a serial entrepreneur, founder, operator, and financier.
Amyn, (Indian Canadian), a product specialist and a project manager lost his mother last year but was caring for her at distance for 10+ years.
L J Nelson, a salesperson and caregiver to his parents is of African American Heritage. He lost both of his parents during CV19 and met me at an AARP Conference. He was looking to start his own startup and joined hands with me.
Amina, an Afghan Refugee, studying Data Science in the UK is caring for her parents and in-laws at distance in Afghanistan. Several members of our development team have grandparents or parents that they care for.
We deeply understand the issues in this area. We are all driven by impact. The SDGs were part of our mandate from the start. We are deeply cognizant of the needs of different ethnic groups and their cultures as we represent many of these. We realize that unless you are intentional some minority groups needs can be overlooked.
Our perspectives, cultures, the places where we have lived, our focus on purpose and profit affords us deeper insights as we tackle this problem. They enhance our academic and work experience where the team collectively has over 90+years of relevant experience – working in contexts where we have had to solve multi-dimensional problems and deliver solutions that impact ecosystems. Throughout our discovery, MVP design, testing, product, brand, colors, design, naming we have used interview, focus groups, events and 121 interviews. Pilot insights are integrated to enhance the product. It is this respect for the user that we believe will guide us to market and beyond and makes us a team well placed to deliver a solid solution.
- Increase access to and quality of health services for medically underserved groups around the world (such as refugees and other displaced people, women and children, older adults, and LGBTQ+ individuals).
- 3. Good Health and Well-Being
- 8. Decent Work and Economic Growth
- 10. Reduced Inequalities
- 17. Partnerships for the Goals
- Pilot
We have been interviewing, researching, prototyping, and building each set of features through focus groups, interviews, and pilots. The first pilot (20 users) established usability by older adults and any iterations needed and provided a response to the hypothesis that the solution could afford efficiencies and cost savings. Our second pilot with UMass Amherst (20 users) verified our secure IOT data collection design and our ability to infer presence and attribute activity for our in-home monitoring feature. Our third pilot placed the MVP with the IOT set up in real life settings (3 Users) and our current pilot, part of a solution for the Longitudinal Prize For Dementia (3 current users and up to 10 Users and their caregivers and Clinicians) uses the entire app, IOT and Smartwatch as well as pressure sensor data, an e-presence (i-beacons) identifier to distinguish between patient, caregiver and others and track activity, movement within the home and agitation levels.
Each set of features was discussed with users, their need and design before being built and tested. The cumulative results are paving our path to market.
We firstly built the onboarding process, the circle of care, user, member, and clinician portal and added the self-reported mood and check-in functionality. The front and back-end infrastructure had to be designed, the app to be built with encryption, data storage as required by HIPAA, GDPR, Hosting regulation for health data which required data to be stored in-country and the requirement to have all personal data anonymized.
Design was informed through our focus groups, interviews, and consultations. The platform is designed as a core platform that can be applied to many health issues such as healthy aging in place, healthy independent living for people with diverse abilities, diabetes, foster care etc. The key factor being good design and simplicity. The branding and content are something that can then be adjusted to other areas in the future. Our focus at present is access to supportive preventative health and wellness tools for healthy aging.
After testing the first features with 92 downloads, 55 registrants and 33 DAU we moved to conduct the first pilot, add content, and commence the design and building of a prototype for the IOT. Following success here we integrated this into the app in the backend and worked on cybersecurity essentials as well as getting the required certifications – Orchha and NHS Cybersecurity Certification which we maintain yearly.
We then tested this set up with 3 patients in a real life setting and finally started working with Ulster University on delivering their pilot for the longitudinal prize on Dementia for 10 persons with Dementia and their caregivers with a full-time clinician and researchers in the team. For this piece we integrated a smartwatch to pull intraday heart rate variability to track stress. Within the app we also embedded PPG Technology to use the camera for 60 seconds to capture through light sensitivity and circulation through the face key vitals such as heart rate, pulse, oxygenation, stress levels, etc. to deliver a health and wellness score 10 peak wellness to 1 low wellness.
We are presently analyzing this data and developing our patentable algorithm for health and wellness. Our data is solid, and the results are promising.
All interactions with the app, IOT, Smartwatch, Health & Wellness PPG and content is collected and presented with actionable insights on a dashboard. Summary data points are provided to the user in simple format within the app. It is possible to slice that data in different ways to understand behaviors, wellness, and usage.
We are now developing a GTM Strategy.
We have interacted though our pilots and test users with approximately 150 users. With 10+ consistent users.
The app is designed to provide affordable access to 60+ year old’s globally to basic health and wellness tools and caregiving support from family, to informal, formal caregivers and clinicians where appropriate. This tech provides greater reach in rural contexts where access to practitioners is difficult and where distribution of expensive hardware to monitor vitals becomes unaffordable and unfeasible due to the needs of charging devices etc.
Our aim is to take this solution to lower income and middle-income communities as well as rural communities where access to 5-star caregiving and support is unavailable or unaffordable. We do not presume that the solution is at ICU level, but it is proven technology with FDA approval of the PPG Technology to monitor wellness. By onboarding users alongside using available datasets to train our algorithm we wish to accelerate our growth and data utility.
The final piece of our solution will look at adding the SDOH – nutrition, exercise, activity, access to community and community resources to complete the full datasets.
We are applying to Solve for four main reasons:
1. To ensure our Product Market Fit, to assist us with our GTM Strategy and help fine tune our business plan, help with contracting agreements, channel partnerships and collaboration opportunities with past solver companies or others to integrate our solution into theirs for overall greater impact.
2. To assist us with our data collection, analysis, and representation to deliver valuable metrics to the healthy aging ecosystem.
3. To raise awareness of our solution to enable access to funding sources, grants, competitions, strategic investors to ensure our sustainability and growth. To access customers in different markets through exposure, channel partnerships with telecommunications, health plans, value-based and accountable care organizations, or telemedicine delivery companies.
- Business Model (e.g. product-market fit, strategy & development)
- Legal or Regulatory Matters
- Monitoring & Evaluation (e.g. collecting/using data, measuring impact)
- Product / Service Distribution (e.g. delivery, logistics, expanding client base)
Our solution is innovative in its approach and impacts the ecosystem in three ways.
1. The care sector specifically for older adults is fragmented and siloed and often provides no voice for the (older)care recipient. This leads to a less than desirable care experience, often leaving gaps in care and the timing of care. During these gaps the care recipient suffers from lack of holistic care and can often deteriorate with dramatic health consequences (as many safeguarding enquiries have revealed: link) The care recipient and the family caregiver needs a multipronged support model to ensure optimal chances for prolonged independence much like a poor person needs, health, education, housing, finance etc. Some inputs without others in the longer term are shortsighted investments. Thriving has built the core engine of its product/features and data collection infrastructure and will plug and play additional features over time to evolve and deliver a platform for choice and customization. The plug and play model limits wasted resources in duplication of technology and allows for greater collaboration and a focus on improvements in technology and services than just 100’s of me-too innovations.
2. Practitioners that serve this segment also operate in silo’s and want to deliver a team-based approach which has long been research and proven to be a better approach. Thriving.ai has designed itself to promote a circle of care which promotes an interdisciplinary approach and allows near real-time sharing of information. Further it allows its integration into the EMR systems used through an API. We are not taking the task of replacing a solid EMR system however we are delivering care in the community and can interface with the larger EMR systems to provide a holistic health and wellness snapshot of older adults. 80% of a person’s health is related to the quality of their social determinants of health (SDOH).
3. Our evolving health and wellness algorithm over time will be an additional parameter to gauge wellness and signal a required proactive intervention that would reduce unnecessary hospitalization, institutionalization and expensive medical intervention when dealt with proactively with the help of family, community care partners and physicians. Our aim is to move the cost curve from expensive, less desired acute care towards a higher quality, desired aging experience in a cheaper community led setting. This is important for the developed world and for less developed emerging markets who over the next two decades will be responsible for 8 out of 10 older adults comprising the 2.1 B adults over 60 years by 2050.
It is a bold vision, but our solution will help demonstrate operational efficiencies and through the data synthesis the value of preventative care. Preliminary results are already providing evidence of time and money savings and further evidence from data on hospital admissions and re-admissions will persuade the health and social ecosystems to move from a fee for service model to a preventative (value-based/accountable care organization) model that will serve us better.
Theory of Change Thriving.ai.
The diagram below demonstrates the theory of change model for Thriving.ai. Initial proof points from our pilots are shown:
1. Usability by older adults – 90% of 78–94-year old’s in the pilot could use the software.
2. 50% of families reported greater peace of mind.
3. Time saving caregivers saved 20-30 mins per patient
Research:
https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9680188/
https://academic-oup-com.ezproxyberklee.flo.org/fampra/article/35/2/132/4159391
https://www.england.nhs.uk/long-read/safeguarding/
More available
Impact Goals:
1. Increase level of independence –measures reduced number of emergency calls, hospital admissions.
2. Manage and mitigate acute acerbations through regular monitoring for chronic respiratory, cardiovascular, and mental health conditions for older adults & caregivers and reduce unnecessary hospital visits through early check-in calls with the circle of care and any practitioners within the care circle.
3. Demonstrate reduced cost of care through reduced hospital admissions and re-admissions.
4. Reduce preparatory and rehabilitation costs post routine surgery.
Measures used:
· Mood trends – Red, Amber, Green (VICI our companion chatbot takes users to a deep mood analysis and action protocol)
· Deep Mood Summary Chart tracking
· Health & Wellness Scores– High, Medium, and Low recordings. Tracked on a chart and monitored.
· Engagement – interactions within the app to resources, blogs, learning journeys and activities
· Activity – IOT regular and unusual patterns
· Steps – number on a graph
· Sleep – deep and light sleep
· Heart Rate Variation
· Communication
Data Synthesis & AI – stealth mode. Can be shared at interview.
Our target SDG Goals:
SDG 3 – Improve access to care, reduce cost of care, improve overall health outcomes.
SDG 5 – 70% of women are caregivers who either give up formal work or are forced to lose it done to caregiving duties impacting their health and financial resilience.
Ensure greater support for working family caregivers
Decent work for caregivers and fair pay for their efforts
SDG 8 – Caregiving is a very important role. Caregivers are over burdened and are critical to our economy. We provide support tools, resources and advocacy to them pushing for a world that has in-person interaction supported by technology to make the limited resources we have go further.
SDG 17 - we work in partnership with health systems, charities, universities and health and social care entities and we will continue to do this.
The transformational impact we aim to deliver is the ability for the less well-off seniors to have access to these measures at a fraction of the cost of purchasing several hardware devices, charging, and maintaining them, and enabling them to take control of the health and wellbeing thereby reducing financial, health and social costs to them and their loved ones. The data is rich, and we continue to learn from it. All this learning is iterated, and knowledge is implemented within the app setting up a cycle of improvements which reinforce quality healthy independent living and caregiving.
Impact Goals:
1. Increase level of independence –
measures reduced number of emergency calls, hospital admissions.
2. Manage and mitigate acute acerbations through regular monitoring for
chronic respiratory, cardiovascular, and mental health conditions for older adults & caregivers and reduce unnecessary hospital visits through early check-in calls with the circle of care and any practitioners within the care circle.
3. Demonstrate reduced cost of care through reduced hospital admissions and re-admissions.
4. Reduce preparatory and rehabilitation costs post routine surgery.
Measures used:
· Mood trends – Red, Amber, Green (VICI our companion chatbot takes users to a deep mood analysis and action protocol)
· Deep Mood Summary Chart tracking
· Health & Wellness Scores– High, Medium, and Low recordings. Tracked on a chart and monitored.
· Engagement – interactions within the app to resources, blogs, learning journeys and activities
· Activity – IOT regular and unusual patterns
· Steps – number on a graph
· Sleep – deep and light sleep
· Heart Rate Variation
· Communication
Data Synthesis & AI – stealth mode. Can be shared at interview.
Our target SDG Goals:
SDG 3 – Improve access to care, reduce cost of care, improve overall health outcomes.
SDG 5 – 70% of women are caregivers who either give up formal work or are forced to lose it done to caregiving duties impacting their health and financial resilience.
Ensure greater support for working family caregivers
Decent work for caregivers and fair pay for their efforts
SDG 8 – Caregiving is a very important role. Caregivers are over burdened and are critical to our economy. We provide support tools, resources and advocacy to them pushing for a world that has in-person interaction supported by technology to make the limited resources we have go further.
SDG 17 - we work in partnership with health systems, charities, universities and health and social care entities and we will continue to do this.
The transformational impact we aim to deliver is the ability for the less well-off seniors to have access to these measures at a fraction of the cost of purchasing several hardware devices, charging, and maintaining them, and enabling them to take control of the health and wellbeing thereby reducing financial, health and social costs to them and their loved ones. The data is rich, and we continue to learn from it. All this learning is iterated, and knowledge is implemented within the app setting up a cycle of improvements which reinforce quality healthy independent living and caregiving
- A new business model or process that relies on technology to be successful
- Artificial Intelligence / Machine Learning
- Internet of Things
- Software and Mobile Applications
- Canada
- United Kingdom
- United States
- Afghanistan
- Pakistan
We have three fulltime people working on the solution – Shain Khoja, founder & CEO, Fayyaz (Back-end Developer) and Burhan (Front-end Developer)
Parttime workers include Amina Wasiq (Data Scientist), Karim Khoja, Co-Founder, Amyn Samji Project Manager and LJ Nelson – Sales and Customer Success Representative, Haider Kanchwala – our lead of the Development Team.
Contractors: we take on contractors on an as needed basis.
In 2018 I started part-time observing, interviewing, and exploring the caregiver for the elderly role in the three countries of initial interest for us. I set up the company and began actively connecting and talking to potential team members, angel investors and organizations. Putting our learnings together in 2020 we began preparing the prototype and testing with users. In 2021 we put together a test group and collating information on the caregiving for older adults and then started raising funds - $380K Angels and $750,000 by the two founders and $180 from grants and competitions.
Having worked across the globe across four continents, in Afghanistan, Syria and Pakistan I have read, learned, and experienced the value of a diverse team. My co-founder and team members have similar experiences and have bought into this important team dynamic.
Our policy has been to ensure that we put together the required job description and advertise or circulate it within the startup community, on LinkedIn and through our personal university, NGO and development community networks to ensure that we get a pool of candidates that reflect our commitment to diversity in every form – gender, cultural, age – intergenerational, socio-economic as well as sector knowledge – healthcare or social services experience, caregiving experience. We also focus on meritocracy so we will not sacrifice quality of experience for diversity however we seek out diverse experts with varying levels of experience to employ. A core tenant is that the team member is a team player and is committed to profit and purpose as this is core to our mission. When faced with two candidates that are equal then we would offer the spot to a female candidate.
Our selection process involves three people, the two co-founders and one other team member usually LJ Nelson. Within the team as a leader, I strive to ensure that every member of the team has a voice and that the loudest voice, often mine does not drown out good ideas and perspectives. This promotes confidence for team members to express themselves. We also have team fun meetings where we will do a quiz or share a funny or embarrassing experience, so we learn to laugh with each other and build a bond greater than delivering the solution.
We bring value to our users and customers as described in the table below:
Care recipient (Thriver) – connection, community, proactive health management, security and confidence to live alone.
Family Caregiver – easy care coordination and planning, peace of mind, guilt-free caring. Impact: Ability to age in place which 90% of the older population desires.
Professional Caregivers & Practitioners – Quick review of patient wellness, reduce administrative work, peace of mind, easy communication, and care coordination with family and multidisciplinary team. Saving time which allows them to serve more patients increasing their revenue and gives them the time to care thereby increasing their work satisfaction and reducing stress and burnout.
Organizations - Quick review of patient wellness, reduce administrative work, peace of mind, easy communication, and care coordination with family and multidisciplinary team. Time saved means that more patients can be served, and the reduced stress helps retain employees and reduced attrition of employees. This also saves money.
Support for their employees, data for insights for targeted care and intervention as well as cost savings.
Our business model is a subscription model with a freemium version with basic functionality and a premium version for inclusion of the IOT and Smartwatch.
For organizations that subscribe there is a data access annual fee for cleaning up the data and pulling it into understandable insights presented for use.
Our customers are:
Families with caregiving needs for older adults (B2C) – all customers get a 30-day free- trial of all the functionality after which they switch to a premium service with trends and measured blocked. Subscription to a premium version unlocks all their data. Subscription is on a monthly or yearly basis reflected in the pricing.
Organizations (B2B) - These subscriptions are based on volume. The larger the volume the greater the discount and are calculated on a per patient/user per month basis.
Our product is a digital mobile caregiving app.
In the future we may provide a turnkey service with a call center that is the first port of call of call that businesses and families can subscribe to for a partner in support for their caregiving needs.
· Home Health Care Companies
· Independent Living Communities & Senior Communities
· Home Help Aids
· Early Discharge Support for Discharge Coordinators/Social Prescribers
· Hospitals & Insurers Reducing Readmission Rates
· Community Nurse Practitioners to support their work
· Geriatric Centers
· Day Centers Data - anonymized for population health, pharma etc
- Organizations (B2B)
We provide services to families, charities, care businesses and universities exploring improvements in care delivery or caregiving. To date we have worked with:
· Catapult Homes for Healthy Aging Program
· Northern Ireland Health and Social Trust
· Epic Development Fund Cornwall
· Circle Innovation Vancouver Canada
· Lever Inc
· Massachusetts E-Health Initiative
· UMass Amherst Sandbox
· Innovate UK – Mentorship Program
We have raised:
$380,000 Angels
$180,000 Grants and Competition non-dilutive funding from the above partners
$750,000 Co-Founders Investments
We have had to invest in the product to build, test and deliver. Our product is now ready for distribution and our business plan requires us to sell. Our focus is on 2-3 customers this year to reach revenue by year-end of $340,000 ( Business Plan available) . After we convert our first customer, we will begin planning our Seed raise which together with our business plan forecast will get us to cashflow positive by mid-2026.
Since Nov 2023 we have been working with University of Ulster on their Longitudinal Prize in Dementia effort providing the technology to deliver their solution and to provide the data required to prove their hypothesis. The data is promising, the solution is working and patients with dementia are tolerating a wearable and are agreeable to have sensors and beacons placed in their homes. On the basis of this we have an LOI in place for September 2024.
Building a solution for this segment with the team we have is a challenging process. There are few patient investors that understand this sector well. Most investors want significant market traction before investing. The current climate, CV19, a woman founder and the stereotypical beliefs that older adults cannot use technology have made this a difficult journey however we have achieved some major goals and feel confident that we are on a path to make the change we wish to see. An important point is that the core solution while designed for older adults can be utilized for many chronic diseases for the general population, for rural communities for the developing world, for foster care, for abuse victims, for recidivism and more. We need to deliver one segment and then look at other segment opportunities. We seek likeminded investors, partners, and collaborators.

Founder Thriving.ai