Technology as a Caregiver: Meet Our EiR
Smart Healthcare at Home
💊 Developing an Intelligent Medicine Dispenser
The world’s population is continuing to grow at an unprecedented rate. In 2020, the population was estimated to be 7,800,000,000 people. While this is putting immense pressure on the natural world, it’s also applying significant stress to global healthcare systems.
The sheer amount of medication and treatment plans needed today is higher than ever before — and still growing. However, even with the best of intentions, it’s often challenging for patients and caregivers to manage treatment plans with different medications and dosing instructions.
This is where technology can offer a solution — smart pill dispensers.
IoT technologies and smart sensors are helping patients and caregivers adhere to medication treatment in the comfort of their own homes. But why should people use smart pill dispensers? In a word — reminders. The main goal of automatic pill dispensers is to offer individuals a solution that is simple to use, organizes prescriptions, and prevents medication errors. The device tracks and provides valuable insights that enable caregivers to monitor the activity of patients and proactively intervene when necessary.
Smart pill dispensers are the first step in helping patients live longer, healthier lives by solving one of society’s greatest unmet needs: medical adherence.
To gain deeper insights into the smart healthcare space, we spoke to Katja Richter who joined NBT’s EiR program in July 2021.
🚀 The NBT EiR Program
Next Big Thing’s Entrepreneur in Residence (EiR) program is a four-month initiative for individuals to build, test, and refine new ideas into venture-funded companies. NBT has developed a modern way to build technology startups and we want to give entrepreneurs the necessary tools and support to create solutions that address current and future challenges.
During our four-month EiR program, you’ll get paid to test out your ideas with a team of exceptional people who are invested in building impactful technology startups.
If you’d like to learn more about our program, take a look at the open EiR positions and join our team of visionaries.
🦸♀️ Meet NBT’s EiR: Katja Richter
Katja, please could you tell us about your background and professional experience?
I’m a business graduate and have a Master’s Degree in Conflict Management and Mediation. Throughout my time studying entrepreneurship, I was able to gain a profound understanding of the essential business strategies in launching and growing startups. This enabled me to apply learned business theory to my practical work.
During my extensive professional career, I’ve been fortunate to acquire competencies in many realms spanning business planning and the due diligence of young companies. I’ve also trained and coached founders, executives, and teams at different stages of their business development roadmap with a specific focus on collaboration practices, innovation practices, and growth strategies.
My strengths include a dedicated and solution-oriented way of working across various disciplines and departments. I’ve also had the opportunity to build up a diverse personal network of industry professionals.
Fast forward to today and I’m thrilled to be in the process of becoming a co-founder and managing director of a healthcare startup at NBT. My responsibilities include assisting with the setup of the company structure, establishing a user-centered product development plan, and structuring the company’s finances.
Why did you decide on Berlin?
I’ve always had a strong connection to Brandenburg, Germany as I was born and raised there. It’s also where I studied and I founded my very first company there as well.
Both Brandenburg and Berlin contribute to Germany’s burgeoning reputation as the leading global location for entrepreneurs and startups with high growth potential. With around 40,000 business registrations per year and more than 500 startup companies per year, Berlin is undisputedly Germany’s founder capital and continues to maintain this lead. So naturally, I had to move there when pursuing my startup dream.
💼 Understanding the Business Case
What challenges currently exist in your industry and how does your business case aims to solve them?
The number of healthcare solutions available to the public is increasing and this is resulting in the costs of these solutions rising in parallel. As a result, individuals are looking for more affordable solutions so that they can continue with their treatment safely and efficiently at the most affordable price.
According to the World Health Organization, around 50% of drugs are not taken as prescribed. The knock-on effect is increased annual hospital visits,
healthcare costs, and high mortality rates. Good adherence is essential for medical treatment to be successful and personalized medical plans are becoming more and more important.
New, innovative approaches are needed so that everyone can benefit from these solutions — and thanks to IoT they can.
Our product leverages IoT, smart algorithms, and sensor technology to enable patient-centered medication plans that take into account schedules, habits, and individual conditions.
Could you explain your business case in one sentence?
The product aims to make medical treatment plans simpler with a smart pill dispenser that assists patients with complex treatments by ensuring that they take the right pill at the right time.
Why did you decide to apply as an EiR and partner with NBT?
I was approached by members of the NBT team to join the EiR program because of my vast industry experience. NBT already had the business idea in place and I just knew that I had to get involved and build out a necessary product that plays a major role in the wellbeing of society.
It was also NBT’s team of motivated and passionate individuals that drew me into the program. I was immediately hooked by the entire team’s drive and their constant determination to innovate and develop new solutions using advanced technology. I resonate with the values of the company and was excited to build out the product idea within an agile venture building process — a novel framework that positions Next Big Thing as a leader within this field.
What do you find most beneficial about working with NBT?
Program Structure
The structure of the EiR program is set up in six sprints that enable entrepreneurs to deeply understand and validate the business case. Each sprint has clearly defined deliverables which helps in determining accountability, progress, hurdles, and wins.
Supportive Culture
NBT’s team offers hands-on support in streamlining all of the administrative tasks in founding a company. As an EiR, I’ve never felt alone. It’s always been a team effort with constant support throughout each sprint.
Technical Experts
The technical expertise of the NBT team is unparalleled in the field of IoT. This is especially helpful when ideating new ways to solve the needs of the end-user in an innovative and efficient way.
What technologies are you most excited about for your business case?
As a general concept, I’m incredibly excited by the possibilities of what digitalization and automation have to offer. On a deeper level, I’m intrigued by sensor technology and its ability to accelerate patient-centric solutions in the healthcare industry.
What milestone are you hoping to achieve with NBT in 4 months?
I’m hoping to finalize the business plan with a specific focus on the German market as an initial first step. I also hope to validate the product concept with early adopters to ensure its success within the specified target demographic.
What is one inspirational quote you live by?
“Versuche jeden Tag einen Menschen zum Lachen zu bringen. ”
“Try to make one person laugh every day.”
What does the Machine Economy mean to you?
The Machine Economy is an era brought on by the advancement of technologies and the hyperconnectivity of people and things. Digital transformation is being achieved by replacing manual (non-digital) processes with digital ones. When an organization understands its physical and digital asset inventory, it can operate with a precision previously unimaginable and deliver solutions that help create a more prosperous, sustainable, and resilient economy.
If you’re interested to learn more about Katja Richter, you can find her on LinkedIn.
🏁 Get Involved: Join NBT’s EiR Program
We’re looking to invest in YOU — the future founder — who is capable of building something that will disrupt an industry and provide real-world value.
If this sounds like you, here’s your chance. As your technical co-founder, NBT will provide all of the company building support services to bring your big idea to life.
So, what are you waiting for? Apply today!
Curious to know more about NBT? Learn about us here👇
