The EIC Tech to Market Venture Building Programme has the mission to support researchers taking their promising innovations to the market. One of the projects taking part in this mission is EarDiTech, an EIC Transition project that joined the Programme in September 2023 and successfully went through all its 4 stages– Tech Demo Days, Opportunities’ exploration, Team creation and Venture support services.
We had the opportunity to speak with Sarah Verhulst, Professor at the Ghent University and Chief Scientific Officer of EarDiTech, to get to know more about their solution and start-up, and the support received by the EIC Tech to Market Venture Building Programme. Keep reading!
Can you briefly introduce your start-up and its mission?
EarDiTech is a pioneering health tech start-up dedicated to transforming hearing healthcare through innovative diagnostics and treatment technologies. Our mission is to detect and address hidden hearing loss (HHL) early, thereby empowering individuals to improve their auditory experiences in daily life.
What problem does your solution address and why is it important?
Our solutions address hidden hearing loss (HHL), which affects approximately 12% of individuals with clinically normal hearing, particularly those aged 40 and older. Traditional hearing tests are not sensitive to detect the underlying cause of HHL (i.e., the integrity of auditory-nerve-fiber synapses). Our diagnostic test identifies and quantifies this damage in a substantial group of people with hearing difficulties who are currently neither diagnosed nor treated.
The CochSyn Test is a patented precision diagnostic tool to detect HHL and quantify auditory-nerve damage, thereby allowing for an early identification of the first signs of permanent hearing damage before conventional methods become effective. This early detection is vital because untreated HHL can lead to social isolation, decreased productivity, and increased risk of dementia.
In parallel, the CoNNear Algorithm serves as a personalized treatment solution. Utilizing the individual results from the CochSyn Test, it tailors sound processing to enhance speech intelligibility in challenging listening environments. By addressing both diagnosis and treatment, our approach offers a comprehensive solution to improve auditory experiences for those suffering from HHL and traditional hearing damage.
What impact do you expect your product/solution to have on your target market or industry?
We anticipate that our solutions will significantly enhance the detection and management of hidden hearing loss (HHL), leading to improved clinical outcomes.
With our innovations, we expect to not only address the existing gaps in hearing diagnostics but also to contribute to better overall health outcomes for those affected by hearing loss, aligning with global health objectives to reduce the burden of untreated hearing impairments.
What specific challenges did you face during the development of your product, and how did the Programme help you overcome them?
One of the significant challenges we faced during our product development was refining our business model to effectively monetize our innovative solutions. Understanding how to position the CochSyn Test and the CoNNear Algorithm in a competitive market required thorough market research and strategic planning.
The EIC Tech to Market Venture Building Programme provided essential resources and mentorship that were invaluable in this regard. Through tailored workshops and one-on-one sessions with industry experts, we gained insights into market dynamics and pricing strategies. This support enabled us to pivot our business model to a more sustainable approach, focusing on partnerships with hearing aid manufacturers, as well as diagnostic companies. At the start, we were engineers with innovative ideas and patents but transformed into a team of innovators with a business and regulatory mindset, ready to bring our solutions to investors and market.
The Programme’s emphasis on validating our business strategy through real-world testing and feedback helped us ensure that our offerings meet the needs of both healthcare providers and patients.
Can you share some concrete actions or milestones achieved during your participation in the Programme?
During our participation in the Programme, we successfully reached out to key industry partners to explore collaboration opportunities. We engaged in discussions with otolaryngologist doctors, audiologists, hearing aid manufacturers, and diagnostic companies to assess how our CochSyn Test and CoNNear Algorithm could integrate into their existing frameworks.
Additionally, we completed initial clinical trials for the CochSyn Test, demonstrating its effectiveness in diagnosing hidden hearing loss. We also developed a working prototype of the CoNNear Algorithm, ready for real-world testing. These milestones have been critical in validating our approach and enhancing our visibility within the hearing healthcare sector.
How has the collaboration with the Venture Building team and mentors influenced your business strategy?
Collaboration with the Venture Building team and mentors has been instrumental in shaping our business strategy. Their expertise provided us with insights into market dynamics, customer needs, and potential distribution channels, allowing us to align our product development with market demands effectively.
What resources or support from the Programme were most valuable to your start-up?
The most valuable resources from the EIC Tech to Market Venture Building Programme included access to a network of industry experts, tailored mentoring sessions, and workshops focused on commercializing technology. This support was critical in validating our approach and refining our value proposition.
What are your future plans for the solution and your start-up?
In the near future, we plan to finalize the CochSyn Test and CoNNear Algorithm for commercial launch, focusing on obtaining the necessary regulatory clearances to ensure compliance with medical device standards. This includes navigating the CE marking process in Europe and preparing for FDA approval in the United States.
We aim to integrate the CochSyn Test into diagnostic platforms and expand our collaborations with hearing-aid manufacturers to implement the CoNNear Algorithm effectively. Additionally, we will continue our outreach to audiologists and healthcare providers to educate them on the benefits of our solutions, driving adoption in the market.
Ultimately, our goal is to make our innovative diagnostic and treatment options widely accessible to individuals suffering from hidden hearing loss, significantly improving their auditory experiences and overall quality of life
If you had to summarise your experience in the EIC Tech to Market Venture Building Programme in 3 words, what would they be?
Innovative. Supportive. Transformative.
Check the summary of the interview in video, here!
About the EIC Tech to Market (T2M) Venture Building Programme
The EIC Tech to Market Venture Building Programme aims to help build start-ups to exploit promising research results through venture building services, comprising a range of activities from identification of promising business ideas to venture creation and development.
If you’re interested in knowing more about the Programme and our open calls, please visit our page in the EIC Community.
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DISCLAIMER: This information is provided in the interest of knowledge sharing and should not be interpreted as the official view of the European Commission, or any other organisation.