Limited SEIS Allocation Available for MedTech

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In the current environment, more than ever, the Government’s SEIS/EIS scheme has become an attractive proposition for investors.

With one of the key SEIS benefits being a 50% income tax rebate, and the tax year just about to end, we have had some growing interest on our SEIS opportunities. miiCARE is one such business, which has just £50k of its SEIS allocation available.

Another “pandemic proof” business, miiCARE has created a solution which can transform the way care is provided to the 13 million elderly people in the UK, particularly at the height of the coronavirus pandemic.

miiCARE is able to do this through miiCUBE, its award-winning, AI-based assistive technology solution, which has been dubbed by the UK’s largest NHS organisation as ‘Alexa for the elderly’.

miiCUBE is a MedTech HaaS (Healthcare as a Service) solution which mimics basic human senses to create situational awareness, offering an immersive, companion-based experience that is not only empowering its users to take control of their own health, but also helping to address loneliness in the UK.

An elderly person with a miiCUBE in their home, will also have a variety of sensors and devices to monitor a number of ‘vitals’ such as movement, temperature, hydration, medication, blood pressure etc. The tech solution requires no internet connection and in the event of an emergency, the relevant responder is notified by miiCUBE.

Unsurprisingly, miiCARE has already secured its first contract with NHS England (ahead of Tunstall, Philips and IBM) as part of the National Healthy New Towns Initiative, before moving on to secure another contract with East Kent NHS, as part of the flagship Dementia Village Project.

With first contracts and 250 pre-orders placed, miiCARE is raising up to £400k in EIS funding, with a minimum target of £100k, to accelerate its product development and growth, and fully capitalise on the opportunity to build a new telecare brand leader in the UK, and later globally.

Given these challenging times, the company is now very keen to finalise its funding efforts and deploy as many miiCUBEs as it possibly can, to assist the elderly, who are almost certain to be required to endure a period of sustained self-isolation.

Other solutions to assist elderly people to live in their homes do exist, but most are focusing on wearables and pendants products, without an eco-system of monitoring sensors and AI-based assistive technology. Their focus is primarily on monitoring and alarming oriented solutions.

Crucially, none are addressing the non-digitally connected elderly population, nor introducing assistive technology and acting as a companion to the elderly. miiCUBE is the only MedTech solution for elderly people who don’t have the internet, a smartphone or a tablet.

To learn more about miiCARE and the company’s award-winning miiCUBE, please click here.

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