Reflections on building – Dariush Salami, Anda
In this blog post, Startup Foundation grantee and Ph.D. researcher Dariush Salami shares experiences in building Anda, a wearables company that designs and produces smart rings specifically for women.
Women have long been underserved by the healthcare system. Shockingly, over one billion women remain untested for life-threatening diseases. This significant gap in healthcare motivated us to create a solution that is engineered for women from the ground up. ANDA rings incorporate bias-free AI models and are designed to be aesthetically elegant, ensuring they meet both the functional and style needs of women.
The consumer wearable market is experiencing rapid growth, projected to reach 170 billion euros by 2028. Positioned within this burgeoning market, ANDA measures new unprecedented biomarkers, establishing itself as a technology leader in the smart-wearable sector. Our smart rings not only aim to fill the existing gaps in women’s healthcare but also to set new standards in wearable technology. With ANDA, our mission was clear: to design and produce smart rings specifically for women, addressing both aesthetic and technological biases.
“The grant period was not just about financial support; it was an opportunity to learn, grow, and refine our approach.”
Receiving the Startup Foundation grant was an important moment for ANDA. It provided us with the resources and support necessary to transform our vision into reality. The grant period was not just about financial support; it was an opportunity to learn, grow, and refine our approach. Here’s a glimpse into our journey and the key takeaways from this experience.
1. Understanding the Market and Needs
Before starting, I wish we had a deeper understanding of the specific needs and preferences of our target audience. The grant period allowed us to conduct extensive market research, revealing the importance of user-centric design in wearable technology. We learned that women seek not only functionality but also elegance and style in their wearable devices.
2. Reducing Bias in Technology
One of our core objectives was to tackle biases in technology, particularly in sensors, clinical trials, and AI/ML approaches. We discovered that many existing wearables were not designed with women in mind [1], often leading to inaccurate data collection and analysis. By focusing on female-specific requirements, we aimed to create a more inclusive and effective product.
3. Prototype Development and Feedback
Developing the prototype of the ANDA ring was a major milestone. The grant enabled us to invest in high-quality materials and cutting-edge technology. However, the most valuable aspect was the feedback we received from early testers. Their insights were crucial in refining the design and functionality of the ring. Currently, we are iterating over our prototype and actively seeking for lead investors who believe in our vision. In case if you are interested, you can reach out to us at contact@anda-health.com.
4. Building an Online Presence
Creating our website, anda-health.com, was a significant step in establishing our online presence. It served as a platform to showcase our vision, product features, and updates. Additionally, we developed a comprehensive marketing strategy to reach a wider audience and generate interest in our product.
5. Fundraising Strategy
Creating a good fundraising strategy has been essential for the company. The grant period allowed us to engage with a network of potential investors, refine our pitch, and prepare the groundwork for securing the necessary funding. We continue to actively pursue strategic investment opportunities to support the next phase of growth and bring our cutting-edge technology to market.
Advice for Future Grant Recipients
Here I have some advice for the future grant recipients based on my experience:
Research and Plan Thoroughly: Before applying for a grant, invest time in thorough research and planning. Understand the market, identify potential challenges, and outline a clear roadmap for your project.
Be Open to Feedback: Embrace feedback from users, mentors, and peers. Constructive criticism is invaluable in improving your product and approach.
Leverage the Grant Period: Use the grant period to its fullest potential. Focus on key milestones, and don't hesitate to explore new ideas and pivot if necessary.
Network and Collaborate: Build a strong network of supporters, including mentors, industry experts, and fellow entrepreneurs. Collaboration can open doors to new opportunities and insights.
The journey with ANDA has been incredibly rewarding, thanks in large part to the support and resources provided by the Startup Foundation grant. As we continue to innovate and refine our product, we remain committed to our mission of creating smart rings that cater specifically to women, reducing biases in both aesthetics and technology. We hope our experiences and learnings will inspire and guide future grant recipients in their entrepreneurial endeavors.
- Dariush Salami
References:
[1] Cirillo, Davide, et al. "Sex and gender differences and biases in artificial intelligence for biomedicine and healthcare." NPJ digital medicine 3.1 (2020): 1-11.