VSP Vision Innovation Challenge Showcase
On August 15th, 2024
MATTER
and
VSP Vision
co-hosted the inaugural VSP Vision Innovation Challenge.
As someone who needs to pop in contacts just to see the alarm clock, this event caught my eye. For the first time during a Demo Day, I was the target customer!
The showcase featured five finalists competing in the VSP Vision Innovation Challenge
, "a global competition to source and support solutions enhancing the eye care patient experience."
The five finalists pitched for a chance to win $10,000 for first, $5,000 for second, and $5,000 for an audience choice award.
Pitching Founders
* Winner! Yair Yahav from
RevitalVision
- RevitalVision
is a SaaS-based, digital health startup offering a unique solution to millions of people whose needs are unmet by existing vision treatments. Their non-invasive technology enhances eyesight neurologically. RevitalVision offers eye care specialists a simple, easy-to-use tool to improve patients' vision beyond current eye treatments, by targeting the brain's visual cortex. RevitalVision is the only FDA-cleared product with efficacy claims to improve vision in adults with amblyopia (ages nine and over). RevitalVision utilizes brain science and proprietary algorithm-based technology, is clinically validated in multiple eye diseases and vision impairments, and has been approved for two new CPT codes by the AMA for the treatment of amblyopia.
Edward Marques from
Vision Science Labs
- Vision Science Labs
(VSL) is revolutionizing eye care with its AI-guided online platform. Their innovative vision testing and therapy methods allow patients to receive high-quality eye care at home, requiring minimal to no hardware. By making eye care more convenient and accessible, VSL is improving patient outcomes and transforming the industry.
*Runner Up! Avantika Naidu from
machineMD
- MachineMD
is an innovative medical device company using the eyes as a window to the brain, working at the intersection of neuroscience, ophthalmology and optometry. The company's flagship product is neos? - the world's first neurophthalmoscope, which performs an automated examination of ocular motility, binocular vision, pupillary function and visual fields. Their team believe that systematic, objective, quantitative eye exams will increase provider efficiency, reduce clinical error and improve people's quality of life.
- Ophthalytics
is a revolutionary AI-based diagnostic platform for eye diseases that is currently undergoing FDA clearance. Ophthalytics offers multiple services that autonomously detect highly complex eye-related diseases, including vision-threatening diseases like Diabetic Retinopathy.
*Audience Winner! Mike Menard from Lens2Recycle
- Lens2Recycle
is a smart, eco-friendly recycling appliance designed to meet the sustainability needs of contact lens wearers. They eliminate the environmental impact of forever plastics from soft contact lenses and blister pack packaging.
Key Takeaways
- Improvements Coming: My vision is terrible, and it's exciting to see real innovation in an industry that hasn’t changed much since I got my first pair of contacts in middle school.
- VR Future: I never thought about taking a vision test using VR or headsets. If these become more common, we could do vision tests from home, which might increase the number of people getting their eyes checked regularly.
- Questions: The judges' questions were a highlight for me. There was no time limit, so they dug deep and followed up on everything. It was a masterclass in probing for insights!
- Dumb it Down: I may have bad eyes, but vision jargon is still new to me. I’d love to see these companies break down what they do in plain English.
Investment
This was an easy one. When Edward mentioned that “80% of blindness is preventable,” it was clear where my money should go. VSL's approach could be a game-changer in preventing vision loss.
Watch the full recording here
.
