“The Increasing Demand In The Healthtech Space Might Be The Silver Lining”: GenElek Technologies 

Read Article

Through the advanced AI technologies, the company builds Robotics Exoskeletons (externally worn robotic support system) which makes it possible for people (suffering from paralysis, stroke, spinal cord injury (SCI), and other such neurological conditions) to walk or move again. It’s interesting to note that technology has been shaping the health tech space quite vividly and that majorly it has been disrupting all traditional practices. In an interaction with John I Kujur, CEO, GenElek Technologies, Express Computer learns a lot more.

At a time when most industries have been brought to a standstill, how do you think is technology helping?

 The rise in the global health crisis by the COVID-19 pandemic has brought almost every industry to a standstill. Series of lockdowns and the concept of social distancing has instilled fear in people to be around others. More than ever now has there been a need for solutions that cater to the parameters in the current times. Health – Tech has single handedly emerged during these tough times. 

Contact-less monitoring of patients, remote access to medical experts, online consultations, robotic surgery, 3D virtual imaging of patients, robotic nurses, self-monitoring devices, assistive devices, and data-driven solutions have all shown potential during this global crisis. As the lockdowns and its restrictions begin to ease, the demand for health-tech is seemingly increasing. 

The government is also investing in health-tech innovations. Artificial Intelligence, the Internet of Things and similar technologies are being leveraged to fight the virus. Initiatives like DISHA (Digital Information Security in Healthcare Act), increased internet penetration, Arogya Setu app developed by the government show a significant shift in the transformation of digital India, especially in the healthcare and wellness sector. Internationally robotic surgeries have been seen to meet the demands, rise in online consulting services like remote OPD, physiotherapy, counselling has been on the rise. The health-tech revolution has taken shape a lot sooner than most experts expected.

The increasing demand in the health-tech sector might be the silver lining to help sustain the economy. There’s a rising awareness amongst people on public healthcare and wellness which has caused a massive shift in consumer behaviour. We can expect people to start actively investing and spending on health tech soon in large numbers.

How unique is GenElek Technologies from its other competitors, which are a plenty?

GenElek Technologies is a health-tech startup that is expanding and enhancing the boundaries of human capabilities and mobilities, using cutting edge technology. We are a startup that forays into all factors of healthcare as well as wellness and providing technology to people that will impact their day to day lives. Our technology is carefully and locally curated to improve the standard of living of the people in our country while improving their livelihood as well. Through our assistive robotic technology, we aim to help people increase their capacity to do physical work and achieve tasks that require effort or cumbersome.

 Currently, we are working in the field of assistive technologies (or developing robotic exoskeleton) which makes it possible for people (suffering from paralysis, stroke, spinal cord injury (SCI), and other such neurological conditions) to walk or move again.

Our technology comprises an array of sensors that enable tracking a person’s gait pattern. Developing the technology in-house has enabled us to control our costs while making the system enhanced with features not yet available in other exoskeletons. We have worked hard to make the system lightweight and it comes with a simple and easy to use UI. The system adjusts itself to cater to the person’s usage patternmaking the exoskeleton suitable to each individual. The more you use it, the better it gets at assisting you and determining what are the best adjustments to improve rehabilitation. Another essential technology is the use of cloud-based solutions. The data can be collected timely and interpreted by the AI is sent to the cloud where is processed in real-time by a medical expert who is monitoring the patient’s treatment. This is as per the discretion of the user.

How are you deploying AI, robotics, and biomechanics in the process?

Our exoskeleton device is a blend of AI, robotics, and biomechanics. Utmost care is being taken to provide the maximum in our technology. We believe in building a cutting-edge technology that is comparable to other global manufacturers. We are not just building a product but also building an ecosystem in India to avail of this advanced technology to the people in need. One of the founding goals of this company is to enable people to utilize healthcare in an affordable manner. Thus, we designed our exoskeleton affordable and accessible through cloud-based solutions. This was done by utilising the state-of-the-art technologies to substitute the most generic expensive parts used in the industry bringing down the cost while maintaining performance.  Our systems go through rigorous tests before making it to the final cut. The algorithm that lies at the heart of our system has been developed in-house through significant testing and field trials of prototypes. Another core objective was the improvement in the patient’s rehabilitation for which AI in conjunction with cloud-based solutions are being used.

A lot of organisations have identified various loopholes in technology? Do you think the reliance is justified?

Technology has become an active part of our lives. The pandemic only fastened the pace of its growth and reach. The advancement of technology has increased rapidly. Now AI has an influence on every industry and individual. Going forward organisations across industries will need to acquire skills and competency to begin their journey as that is the only way forward. There’s no longer a need to avoid it but rather just embrace and grow with the times. Technology should be seen as an enabler and should be used to scale up activities of a person or a company.

What immediate and longterm milestones can we expect out of GenElek Technologies in the near future?

Immediate plans

Our immediate plan is to launch our technology to the market. During the pandemic, we have been working tirelessly to make this possible. We have made changes in our operations and optimised our business to the new world. We have ensured that quality is still met while following the government norms in this pandemic. 

In the next 5 years, we aim to become pioneers in the field of assistive devices pertaining to the health-tech sector and will enhance our existing exoskeleton technology as per the roadmap. We plan to expand our operations globally and in the next 3 years, we aim to cross USD 9 million in revenue.

Lastly, any takeaway for the wannapreneurs? 

Define your market very clearly, spend time to understand exactly what your customer needs. If you have a dream then make a plan and work on it, no matter what hardships come your way. Persistence is the key to be successful.

If you have an interesting article / experience / case study to share, please get in touch with us at [email protected]

Advertisement