"Impossible" Projects Lead to Solid Solutions
Since PreviMed selects weighty assignments, some of the company's projects have not only been difficult, but pose a never-done-before type of challenge. Complexity, however, does not stand in the way of the company's drive to provide inventions that improve lives. The personal airbag system for example, was deemed impossible by a prominent CTO with a wireless networking giant, - until PreviMed stepped in to apply wireless Body Area Network (BAN) technology. This team of science-based trendsetters has spent the past 2 years experimenting with currently available technology. After discarding many designs that did not yield results, PreviMed has come up with a new approach that promises assistance to a wide range of consumers, from the frail and elderly to bicyclists involved in accidents.
Creativity is the Easy Part
According to the company's founder and CEO Salgaonkar, the biggest challenge, is not finding ideas that have the potential, but in generating the capital needed to carry these through. "Our goal is to take tough-yet-interesting problems and provide solutions by exploiting a fit with current and emerging technologies."
"The nature of our company is creativity. We enjoy the process of solution-oriented research," says Salgaonkar. "Our portfolio of experiments and research programs spans a wide range: from tele-dermatology to palliative solutions; from patient safety to mental health."
Solutions of Interest
The road to success has not been without its bumps in the road. For example, PreviMeds medicine authenticity checker program was driven by a proposed California regulation that would require an e-pedigree for medicines. That legislation has been repeatedly postponed, causing a temporary halt in development of this product.
Fortunately, PreviMed has found potential in other marketplaces. The impulse management system, called AmbiCrumbs, has generated interest in Singapore as a preventive tool for gambling addicts. European marketers have expressed an interest in another system: one designed to facilitate the patient handoff between nursing staff. There is even a tool which will assess the stress levels of television news anchors while they report negative news on air, a product that can help with their stress mitigation approach.
"We have more concepts than we can fund," declares Salgaonkar. "Finding financial support for the 23 carefully-researched and feasible projects awaiting launch is the next big challenge for PreviMed. We need to find equally qualified investors; foundations, research organizations, who are co-aligned to become partners. We want to avoid traditional venture capital if we can."
PreviMed is optimistic that investments from individuals, foundations and others will soon enable the company to break into its next phase of growth and progress. This will facilitate the delivery of compelling, practicable solutions targeted at reducing pain and suffering. Mr. Salgaonkar comments, "We are anticipating that our new partners will have not just synergy with our values and sensitivities but also the experience to think of global impact and the courage to look beyond near term returns."
About PreviMed, Inc.: www.PreviMed.com : Based in San Jose, California, the firm researches innovative solutions for the medical technology domain by harnessing technologies along with a multi-dimensional engineering effort. PreviMed has led technical seminars at research institutions such as NIST (National Institute of Standards and Technology); and contributed detailed concepts to innovation research efforts at NIH, the Bill and Melinda Gates Foundation and the FDAs Orphan Devices program. PreviMed has been recognized across diverse entities, from IEEE to Foreign Policy Magazine to HISTalk blogs.
Posted by Sean Fenske, Editor-in-Chief, MDT