Download - Altiste ltd
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
Det
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Rel
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form
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o c
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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