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  • March 2020
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EyeControl: Inspiring Communication

By: Paul A. Gompers and Danielle Golan
  • Format:Print
  • | Language:English
  • | Pages:18
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Abstract

Eye-controlled communication device startup EyeControl was founded in Tel Aviv, Israel in 2016 by cofounders with a shared personal connection to locked-in syndrome—a neurological disorder that left sufferers cognitively sound, yet paralyzed, with the exception of eye movement. The team was committed to addressing the frustrations that accompanied the loss of communication associated with the condition. The EyeControl device was reasonably priced, required minimal set-up, and was the first screen-free solution available—thus easy to use around the clock and in any setting, compared with the costly, cumbersome, and complex to use existing solutions. EyeControl initially targeted the home-care segment of permanently locked-in individuals, estimated at more than 850,000 patients worldwide. Seeing the efficacy of their device, the cofounders contemplated targeting the hospital facilities segment, a far larger market. So far, EyeControl had raised $5 million from startup competitions, accelerator awards, grants, and angel and impact investors. Yet they also realized that their cash needs would be far greater if they were to now pursue the facilities market opportunity, requiring them to conduct costly clinical trials. They would have to seek funding outside of grants and impact funds, tapping traditional VC funds who would be interested in the $ 5 billion potential of the facilities market. The cofounders also wondered whether a strategic corporate partner was a potential alternative solution. As they were about to start clinical trials for their facilities product, they were still unsure whether they should start penetrating the facilities market or if they should concentrate all their efforts in the home-care market. Would it be possible to do both?

Keywords

Health Disorders; Communication Technology; Business Startups; Expansion; Finance; Decision Making; Social Enterprise; Medical Devices and Supplies Industry

Citation

Gompers, Paul A., and Danielle Golan. "EyeControl: Inspiring Communication." Harvard Business School Case 820-078, March 2020.
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About The Author

Paul A. Gompers

Finance
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