NEOFECT, K-ICT Born2Global Centre's member company, develops medical devices and software for stroke patients and people suffering from neurological or musculoskeletal diseases. At CES, the world's largest electronic device trade show, in 2017, NEOFECT received an Innovation Award for its RAPAEL Smart Glove, a rehabilitation device for the hands, wrists, and lower arms of stroke patients. More recently, the company received its second consecutive Innovation Award at CES 2018 for its RAPAEL Smart Pegboard, a rehabilitation device designed for stroke patients' hands and arms.
NeoFect received its second consecutive Innovation Award at CES 2018 for its RAPAEL Smart Pegboard,
a rehabilitation device designed for stroke patients’ hands and arms.
The main feature of NEOFECT's RAPAEL series is its use of games. Unlike other rehabilitation device companies, the majority of which offer products that involve the repetition of simple and boring movements, NEOFECT has introduced a game-based element to its devices to make rehabilitation activities more entertaining and effective.
The company's most recent release is the RAPAEL smart pegboard, which, simply put, is a digital version of the traditional wooden pegboard. With this device, the patient engages in rehabilitative training by grasping and placing wooden pegs into a board in accordance with the rules of the selected game. The purpose of pegboard training is to enhance hand-eye coordination, fine motor skills, cognitive ability, space perception, and concentration.
The 63 high-luminance LEDs installed on the board light up to show the user where to place the pegs. For example, when playing the whack-a-mole game, only the holes where the user is expected to place the peg light up. To have patients make shapes, the lights create the shape of a heart or arrow, among others. The device also provides audio feedback through a speaker embedded in the board that notifies the user of his or her progress through sound effects and voice.
Harnessing painful experiences and applying them to the creation of a patient rehabilitation solution
CEO Ban Ho-young was always interested in rehabilitative treatment. "My father and uncle both died from stroke. In both cases, it was very difficult to have to just stand by and watch them suffer. During those experiences, I noticed the lack of rehabilitation methods available for patients who have lost most of their motor abilities and began thinking about how to resolve that problem." A university friend of Ban's who was studying rehabilitative medicine at the time shared his views and suggested starting a company together, thus giving birth to NEOFECT.
Practical feedback is just as important as research in the lab
Ban believes that the greatest strengths of NEOFECT products are practicality and convenience. As an engineering major, Ban was confident about his ability to develop machines and solutions, but knew that he lacked medical expertise. "I visited rehabilitation centers literally hundreds and thousands of times. I met with patients, doctors, and physical therapists to get as accurate a picture as possible of the rehabilitation process." This direct feedback from the field, which we had not considered in his first product designs, was then applied to the creation of NEOFECT's final products.
Another strength of the company's products is convenience. Most rehabilitation equipment is very costly (hundreds of millions of Korean won) and quite large, which is why they are available only in hospitals. As a result, patients who are determined to get well have no choice but to undergo rehabilitation at a hospital.
Pioneering a next-generation medical device market under the Fourth Industrial Revolution
Unlike other rehabilitation solution companies, which have focused mainly on hardware development, NEOFECT has grown based on its prioritization of both software and hardware. It is currently developing a rehabilitation solution that involves the use of AI and IoT. Ban said, "Big data is the key. We will be thoroughly analyzing the movements that enable patients to recover their neurological functions more quickly."
To develop new products, Ban is also actively striving to attract investment. As of last year, the company's annual sales stand at around KRW 2.1 billion, but it has already accumulated KRW 13.5 billion in investment, meaning that many companies are very optimistic about NEOFECT's potential. The list of NEOFECT investors includes a number of famous KOSDAQ-listed venture capital companies, including DSC Investment and Company K.
After receiving consultations from the Born2Global Centre on patents and two areas of accounting, NEOFECT was able to conduct its business more effectively. The company's transaction method, which had primarily been B2B, was changed to include more B2C transactions in 2017, allowing NEOFECT to help more patients with their rehabilitation efforts.
A startup Looxid Labs received the Best of Innovation Awards following last year's honoree Google
Looxid Labs, a tech startup developing a user emotion recognition system optimized for Virtual Reality (VR), announced that LooxidVR -- a mobile based VR headset for eye tracking and EEG recording -- has earned a CES 2018 Best of Innovation Awards in Virtual Reality.
Consumer Electronics Show (CES) is the world's largest trade show annually held by the Consumer Technology Association (CTA) in Las Vegas in early January. A CES Best of Innovation Awards is a prestigious award given only to the first-class companies that show the best innovation in each sector among 28 categories in the light of its design, technology and customer value. For VR sector, Looxid Labs' LooxidVR made an outstanding achievement of winning the 2018 Best of Innovation Awards, following a CES 2016 Innovation Awards honoree Samsung's Gear VR and a CES 2017 Best of Innovation Honoree Google's Tilt Brush, and standing shoulder to shoulder with other global innovative companies.
LooxidVR is a mobile based VR headset, analogous to Samsung's Gear VR and Google's Daydream View, embedded with EEG sensors and eye tracking cameras and thus can keep track of a user's brain activity, eye movement, and pupil dilation. In particular, LooxidVR allows time-synchronized acquisition of eye and brain data concurrent with VR contents and provides an expandable API, which can be widely applicable in various VR industries that require better understanding of users' emotional status such as stress level, preference, and engagement.
Looxid Labs will participate in 'CES Unveiled Las Vegas' at Mandalay Bay on January 7thprior to CES 2018 and set up a booth where visitors can experience LooxidVR during the four days of the actual event from January 9th-12th. Above all, booth visitors can have a first-hand experience of monitoring their eye and brain activity within an immersive VR and explore how their physiological data can be used to open up new possibilities in VR-based user experience (UX) or market research.
"It is really encouraging to see our technology and potential recognized globally with the Best of Innovation Awards at CES 2018, where the most influential and ingenious consumer technologies are showcased," said Yongwook Chae, the CEO of Looxid Labs. "Preorder sales of our award-winning product, the LooxidVR, will be kicked off on February 1st, 2018. I hope you stay tuned for our future development including comprehensive VR user analytics solution based on eye and brain interface," he added.
During CES 2018, visitors can find Looxid Labs at Booth #52907 at 'Eureka Park' where various startups showcase their ingenious ideas and innovation. CES 2018 Best of Innovation Honoree products are featured on CES.tech/Innovation. Visit www.looxidlabs.com for more information.
Products entered in this prestigious program are judged by a preeminent panel of independent industrial designers, independent engineers and members of the trade media to honor outstanding design and engineering in cutting edge consumer electronics products across 28 product categories.
TwoEyes VR is a 3D 360° VR camera, having two pairs of lenses mimicking the two eyes of a human for capturing the surrounding in 360°. Two pairs of fisheye lenses separated by 65mm, a standard distance between human eyes, shoot in 360° that precisely correspons to both eyes to produce high-definition videos so users can enjoy 3D VR content in an even more realistic fashion.
The prestigious CES Innovation Awards are sponsored by the Consumer Technology Association (CTA)™, the owner and producer of CES 2018, the global gathering place for all who thrive on the business of consumer technologies, and have been recognizing achievements in product design and engineering since 1976.
TwoEyes Tech's TwoEyes VR will be displayed atCES 2018, which runs January 9-12, 2018, in Las Vegas, Nevada. A selection of Honorees also displayed at CES Unveiled New York, which features dozens of exhibitors and networking opportunities.
Entries are evaluated on their engineering, aesthetic and design qualities, intended use/function and user value, unique/novel features present and how the design and innovation of the product directly compares to other products in the marketplace.
Products chosen as CES Innovation Honorees reflect innovative design and engineering in some of the most cutting edge tech products and services coming to market.
CES 2018 Innovation Honoree products are featured onCES.tech/Innovation, which lists product categories, as well as each product name, manufacturer information, description, photo and URL.