THYNK, winner of the Oracle Health Innovation Award, is a digital therapeutic company focused on retraining the brain. This technology employs the use of a patented EEG headset (our brain-computer interface, or BCI) which, using real-time biofeedback, interacts with a groundbreaking video game.
In clinical trials, this combination led to improved performance in children diagnosed with Attention Deficit Hyperactivity Disorder (ADHD). The benefits showed similar efficacy to multiple pharmaceuticals, yet added the benefit of sustained effects which lasted for months.
Take a look here: https://www.kickstarter.com/projects/thynkbetter/thynk-revolutionary-gaming-for-better-focus?ref=discovery_category
No, I would not invest in this venture just yet. The research and technology actually sounds like a great tool not just for children with ADHD, but for learning how “attention” feels like in general, and “train” the brain to control its ability to concentrate and focus. I think this might be a great tool and a step forward for gamification of education, and help children (and older students!) learn better. However, I am not entirely sure on revenue it is able to generate on the market size. I am also not entirely sure how long, or difficult this product may lead to success.
Overall I thought the pitch itself is good. It identified a very specific problem – which is the challenges children with ADHD experiences. The company created the game to solve the problem, backed by research and endorsed by psychiatrists. It won the Oracle Health Innovation Award, which means it does stand out in terms of innovation and science, and gained quite a bit of interest from collaborators. It is quite a unique product in the sense that the game is powered by children’s “attention” – monitored through the headset and sensor in the iPad. The pledge information and rewards are clear, as well as the team that is behind the product (on their website).
No, I would not invest in this venture. However, the venture concept is unique and very interesting. I find the notion of using technology to help address attention issues compelling. The main reason I would be unwilling to invest is because I’m unsure about the future direction of this company. The pitch comes across as if they are trying to sell the product to me as a consumer rather than pitch it to me as an investor. The lack of an ask in the pitch left me wondering what opportunity there is for investment. For example, I’d like to know whether they have obtained or plan on seeking regulatory approval for their product for the treatment of ADHD or not. While they provide evidence from some studies, I would not feel comfortable investing in a product that claims to treat children with ADHD unless I was certain that it was efficacious or that the owners of the company had enough confidence in the product to seek regulatory approval.