Altiste Ltd

Reduce absences from work in less than 30 minutes

BackgroundHumans are exposed to several physical factors while

working

Vibration, noise, radiation, dust, climate and chemicals

Most factors are harmful if exposure is too long or strong

Especially exposure to several factors simultaneously is considered a high risk to health issues

The factors cause more work absences today than 10 years ago (a Finnish study*)

Employers are required by law to evaluate, assess and minimize risks related to the factors

*https://www.etera.fi/SiteCollectionDocuments/Julkaisut/Tutkimusjulkaisut/Etera_3T_2009_teksti_3-138_lores.pdf

ProblemAt least one work day is lost for every worker annually

because of the factors

Each lost work day costs over 500 Euros to employer

Company with 250 employees looses over 125000 euros

Managing risks from different factors require knowledge and resources most employers don't have

Risk assessment should be conducted at regular intervals

Current solution is to use consultancy services which are expensive (1500 to 5000 euros) and require additional resources from the employers

Solution

A web service, which provides a risk assessment of the factors in less than 30 minutes based on simple and visual questions about the employer's work environment

The basic service provides the minimum evaluation that is required by the law

The full service provides a risk assessment for each factor and an action plan for reducing the risks and absences from work

Additional services provide consultancy and data storage for employers

How it works

The user selects images which corresponds to his work environment

Web service then determines which factors are risks in the environment

The user answers 10 to 15 questions for each factor

Web service uses the answers and data from the database to assess risks and produces a visual report

The employer can use the report to reduce the factors

Innovation

The service combines the vast information on the literature and the knowledge of the experts to a simple and visual user interface that anyone can use.

Questions for finding the

factors

Referencedatabase

Algorithm to findclosest match and

model the risk

Risk assessmentand visual report

Questions foreach factorQuestions for

each factorQuestions foreach factor

BenefitsThe user does not need to know about the legislation,

standards, the factors or the risk assessment procedure

The full risk assessment takes less than 30 minutes

The results can be used to reduce work absences

Employers comply with the law

Minimizing factors reduces also wear and tear of the tools

Employers do not need to use expensive consultancy services

Employers focus the actions to most important risks

Proper risk assessment improves company image

Market trends

Workers are getting older and fewer in western countries

Legislation is getting stricter

Demand for self-service tools is increasing, because of need to reduce healthcare costs

Proactive healthcare is increasing

eHealth services are one of the six key market areas in EU strategy - experts have predicted an explosive growth on eHealth services in next few years*

*http://www.euractiv.com/en/health/ehealth/article-117474

Market sizeEuropean Union includes 27 member countries which all have

uniform laws for occupational safety and health

In total over 19 million companies have to comply to these laws, from which 99.6 % of these are small and medium enterprises (SMEs)

51 % of the companies are in an industry area where at least one factor is considered a high risk

In northern Finland less than 1 % of the companies have conducted the required risk assessment for all factors

In UK alone over 60 billion Euros were lost because work absences related to the factors*

*Health and safety statistics 2008/2009, HSE, UK

CompetitionLocal consultancy services

More expensive; requires time and resources from the employer; only few experts available locally

Web sites with free information

Free, but require resources and time to understand the risk assessment literature; have only general information

Risk assessment software and web services

Available only in few countries (e.g. Holland); require knowledge of the factors; do not have reference data

Measurement equipment

Require knowledge and resources for using them; needs additional tools for conducting the risk assessment

Competition

Cost of service/product

Gen

eral

Consultants

Measurementtools

Other assessment softwares and web

services

Free web material

Altiste service

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ExpensiveFree

Competetive advantage

The service provides the fastest and most resource-free way for an employer to conduct a risk assessment

The service is completely scalable as no experts are involded in the risk assessment process

The service provides practical suggestions as it uses references from similar work environments

The algorithms can be protected and require long experience to develop

The team includes seasonal experts, which have long practical experience in consultancy, research and standardization in work health areas

Product roadmap

Current web version includes a full risk assessment for whole-body vibration exposure

First full version of Altiste web service includes risk assessment for the following factors: vibration, noise, dust, radiation, climate (temperature and humidity) and chemicals

Next version includes also ergonomical issues and database storage for employers to save their assessment data

Business model

To sell the web service to SMEs in European Union through healthcare service providers

Fixed price for using the service

To sell the web service to machine and tool manufacturers bundled to their product

To license the web service method to large organizations

To sell an advertisement space to local consultants

Primary customersCEOs of micro enterprises (less than 10 workers) – 18.04

million companies in EU

Basic service package (200 Euros)

CEOs of small enterprises (less than 50 workers) – 1.35 million

Full service package (500 Euros)

Chiefs of safety issues of medium enterprises (less than 250 workers) – 0.21 million

Full service package (500 Euros)

Additional consultancy for supervising the actions

Other customers

Trade and professional unions

Customized web service package for the members

Consultants

For selling the web and consultancy services to employers

Machine and tool manufacturers

Web service bundled with the product

Return of Investment micro/small size employer

Companies having small number of employees are dependent on every worker

Small companies have little or no resources to evaluate risks by themselves

In average 2 to 5 % decrease of absences is achieved with simple actions

For companies having 50 employers, this means 5 days less absences annually (minimum outcome)

→ return of investment is five times

The service has paid back if one work day is saved

Return of Investment medium size employer

Larger companies have in average more lost work days per worker than smaller companies

For companies having 250 employers over 25 work days can be saved with preventive actions

→ return of investment is over 25 times

The service has paid back if one work day is saved

Return of Investment large size employer

Large companies can save millions of euros for identifying and reducing risks

AstraZeneca saved over 800 000 pounds annually by improving the working environment*

British Gas Services had return of investment over 31 times by focusing on back pain cases*

First ScotRail saves over 3 million pounds annually*

Each case company reported significant increase in worker motivation and happiness*

*Health people=Healthy Profits, Business action on health

Sales strategy

The service is offered through healthcare service providers, which require that the employer conducts a risk assessment

All enterprises in European Union have to be a customer of a healthcare service provider

The service is also advertised to national health and safety ministries and authorities for having references

First focus is on the countries, which are active in work health issues: Finland, Sweden, UK, Germany and France

Business environment

Employer

Healthcare providers

Work health authority

Consultants

Occupational work health institutes

Risk assessmentproducts

Tool and machinemanufacturers

Measurement equipmentsellers

Altiste web service

Trade unions

Turnover potential

The alpha version of the service has been presented to 3 Finnish healthcare providers: MedOne, Suomen Terveystalo and Pohjois-Suomen Työterveys ry

Each provider has been interested in offering the service to their clients

The web service has been presented to seven major finnish employers: State Treasurery, Finavia, Finnish border control, The Finnish Defence Forces, Rauma Stevedoring, Kemi Shipping and Kesko logistics

Each have indicated interested in ordering the service

Turnover potential

In Finland there are about 300 000 SMEs, from which over 100 000 have employees

Over 10 000 new companies are founded each year

Through the biggest healthcare companies over 50 % of these companies are reached and 99 % have not conducted the required risk assessment

In UK the same numbers are 8 times bigger

Turnover potential (k€)

2 0 1 0 2 0 1 1 2 0 1 2 2 0 1 3 2 0 1 4C u s t o m e r s 1 5 0 3 0 0 0 7 3 0 0 1 5 0 0 0 3 7 0 0 0

C o u n t r i e s F i n l a n dF i n l a n d ,

U KT u r n o v e r 4 5 9 0 0 2 1 5 0 4 5 0 0 1 1 0 0 0

P r o f i t 4 0 , 5 8 1 0 1 5 7 4 3 3 0 5 8 0 6 5

F i n l a n d , U K , S w e d e n , F r a n c e , G e r m a n y

F i s c a l y e a r

Customer references

The service has made over 200 k€ turnover in Finland (2007-2008) using an alpha version of the web service serving only vibration related risk assessments

Current team has provided consultancy and piloted Altiste web service (vibration) with the following companies

Finnish State Treasurery

Finnish border control

Finavia

Several private companies, like mining plants and machine manufacturers

History behind AltisteReseach and development conducted in VTT since 2001

Vibsolas Ltd founded in 2006 from VTT

Consultancy services for vibration exposure measurements and risk assessment

Developed the first measurement device for long term vibration exposure monitoring – currently over 50 devices are used around the world

Developed Altiste.fi web service demo for vibration exposure with Finnish State Treasurery

In 2010 Vibsolas Ltd founded Altiste Ltd to focus on Altiste web service

Present status

Vibsolas Ltd has transferred IPR of Altiste web service and all other services related to work health to Altiste Ltd, including:

Web site domain and code, client list, algorithms and reference data for vibration assessment, report templates

Altiste Ltd is owned by Ykä Marjanen and Vibsolas Ltd

Altiste Ltd seeks funding to finish the Altiste web service and sell it to customers

Altiste team

CEO, Ykä Marjanen, Msc (eng), PhD (human sciences)

Over 10 year experience in work health assessment research and development of measurement techniques

Has been involved in EU standardization work

Scientific advisory board (not a complete list)

MSc Ilkka Kyttälä, Ministry of Social Affairs/Health, FI

Dr Jukka Starck, Finnish Work Health Institute, FI

Dr Neil Mansfield, Loughborough University, UK

Dr Carel Ostendorf, Sound and vibration, Holland

Altiste team

Board

Names to be verified in a separate document

Industry Advisory board

Includes several experienced satefy officers from Finnish and UK companies

Names to be verified in a separate document

FinanceAltiste Ltd seeks 250 000 euros for developing the full

working beta-version of the web service

This entitles 35 % of the shares of Altiste Ltd

The funding is used to develop working beta-version of the altiste web service including all major factors

The funding is also used to market and sell the service in Finland to start earning profits

Idea Alpha Working beta Full service Full market potential

Expansion to wholeEU area

First customers Expansion to selected countries

Several customersIn Finland

Current status

Seed funding Profit funding

Execution plan

Two work health professionals are hired to gather the relevant literature and legislative information to all factors

The algorithms and questions are finalized for noise, radiation, dust, climate and chemicals

A reference data is gathered to database for all the factors from internet, free databases and own measurements

A sales manager is hired aiming to sell the service to 100 to 150 pilot customers in Finland in 2010

A marketting model is negotiated with selected major healthcare organizations in Finland

Exit strategy

Company is sold to one of the major healthcare companies working in European Union

Target price is 25 million Euros after 5 to 7 years of operation

Healthcare companies are advancing to proactive healthcare sector, thus are interested in services, which provide risk assessments

Altiste web service is a missing link between employers and healthcare service providers