Friday, 25 August 2017

The Business Model

Future-proofing your business model

Disruption awaits us all, whatever the nature of our business activities or markets. For some this may be happening faster than anticipated.

Recent years have seen an explosion of technological change and the emergence of entire new industries, from smart cities to fintech, block chain, augmented reality and the Internet of Things. In the face of these rapid changes, traditional investor thinking and business models also need to change. Previously we sought continuity, stability and consolidation in our markets and business focus, but what is considered secure today may be highly vulnerable tomorrow – think Nokia or Kodak. A new investor mindset is needed to expand the concept of “pivoting” and recognise the need for agility to keep pace with change and seize the multiple new opportunities as they arise.

As a forward-thinking entrepreneur, I believe future-proofing one’s business requires radical and different thinking. The traditional focused approach may hinder change and result in lost opportunities. Certainty can no longer be assumed, and even “pivoting” is limited by simply switching from one activity to another rather than engaging with the wider landscape. Agility does not necessarily imply lack of focus – quite the contrary, we can be focused on health but explore different technologies so that the sum of different parts is a stronger, more resilient proposition. 

Today the pond is more crowded and complex; throwing a pebble into the water has limited effect. Throw several pebbles and not only does the surface become further disrupted but also greater interaction takes place.

Future Care’s business model is like this pond. It enables us to throw several disruptive initiatives into the mix, creating ripples of opportunity and interaction. Future-proofing means we can focus on our core business and generate ongoing revenue while at the same time collaborating with others to maximise on new opportunities, strengthen our business case and introduce new narratives. Concretely, if company B has a health solution using a new technology, and we have a vision using this technology, we can team up to create a mutually beneficial entity, exchanging equity and software licensing so that both Future Care and company B benefit. Apply this collaborative approach to an additional two or three other companies, and the pond becomes a much more vibrant, exciting and disruptive place from which to launch innovation, take advantage of opportunities as they arise and future-proof our businesses to ensure we are always several steps ahead of the game. This illustration shows how company B’s technology is licensed to a new company C, set up by Future Care to take company B’s technology as a stepping-stone to developing new initiatives that benefit both company B and C.

If we expand this to include other companies e.g. E & D, all will benefit from the synergy of shared visions, resources and markets.
As our business model matures and evolves, it offers investors and all stakeholders cumulative benefits.

Concrete example of our business model
Brain & Vision (B&V) is the first company to enter a relationship with Future Care. It has developed two augmented reality (AR) prototypes using HoloLens:
·         Dyslexia – helping those with this learning disability to achieve their full potential while in education.
·         Hard of hearing - enabling the hearing impaired to engage with the world of sound and convert sound into a visual representation that they can understand and participate in.
Both initiatives have other benefits and applications spanning different markets.

B&V’s technology can provide Future Care with elements that can be used to develop "MADE™" My Augmented Data Environment and visa-versa. MADE™ has a patent pending and is a long-term initiative. At present, MADE™ has little or no monetary value due to the cost and limitations of the HoloLens technology. However, it provides Future Care with a building block to ensure we are at the forefront of this rapidly evolving area of health and wellness. It also provides us with new opportunities. Simultaneously, we are developing the skills and understanding of this market and have a schematic prototype so we can convincingly engage with this growing AR opportunity and community.
To summarise, Future Care has a market wide perspective and is actively engaged in validating market failures, validating solutions and validating customers.
We do not follow agile methodologies; rather our whole approach is lean, agile and proactive.

For more information and how to invest
We welcome feedback on this or any other issue so please do not hesitate to contact us. Alternatively, go to Future Care’s investment page if interested in Future Care opportunities.
If you would like to have a conversation or you have any questions then please CONTACT US or call us on our FREE phone number 0800 688 9194.

The Future Care (UK) Ltd is focused on medical, health and wellness tech across the UK’s National Health Service and Social Services.

Tuesday, 28 June 2016

The Case for Digital Globish

The Case for Digital Globish

When a computer scientist and a CEO discuss how to harness the power of Big Data, how good is their understanding? The answer is limited, at best, even though they both speak English.

We are on the brink of learning how to exploit Big Data, those highly complex data sets which could yield huge benefits to our society. But there is a communication gap between the digital academics and data scientists on the one hand, and the psychologists and business community, who want to put the data to work, on the other.

This was highlighted recently when Future Care (UK) Ltd  was invited to take part in Data City Data Nation (DCDN), a world-class initiative by Digital Catapult, aimed at bringing Big Data communities together to: ‘develop smart solutions to real-life challenges’. The launch of DCDN’s healthcare and wellness challenge offered the opportunity to tackle challenges like finding commonalties within our data and other data sets, in order to identify reactive and preventative health algorithms and other innovations.

We formulated our DCDN challenge and described it to the data scientists, but found they could not see things from our point of view. There was a gulf between the way we saw things and the way the academics and psychologists did. They stuck to their proscriptive, linear methodology, while we wanted to take a freer, multi-dimensional approach, digging into the data and seeing where it could take us. They wanted a precise question while we wanted serendipitous discovery. We lacked a common language and understanding; we lacked Globish.

When a computer scientist and a CEO discuss how to harness the power of Big Data, how good is their understanding? The answer is limited, at best, even though they both speak English.

Globish is the term coined by Jean-Paul Nerrière, retired vice president of IBM in the US, for the pared-down version of English used in the business world to overcome language barriers. Nerrière points out that non-native English speakers can communicate more easily between themselves using Globish than native English speakers can with non-native speakers. 

And there is a parallel in the digital business world. We need a digital equivalent of Globish, to communicate what Big Data is in terms that business can understand. The concept of Big Data so innovative that we need new ways to describe it, which allow us to see the world in a totally different way. 

But the digital experts also need to learn to use a simpler, common language when we talk about Big Data and its applications. This new way of communicating, or digital Globish, could set Big Data free from universities and computer labs and allow business to harness its full potential to improve lives.

Media Contact Details:

Andrew Cowen, Founder & Chairman/CEO, +44 7905 756 769 
Technical queries: Bradford Rogers, MD, +44 7541 937385 

Thursday, 23 June 2016

Data City, Data Nation - " Health & Wellbeing Challenge"

Andrew Cowen - Chairman

Data City Data Nation – ‘Health and Wellbeing Challenge’

Title: Big Data - Hidden Treasures

Big Data is comparable to the arts in that it offers a plethora of interpretations, but most importantly, both have hidden meanings and offer different ways of interacting with our world and understanding it.  Delving deep into Big Data is an odyssey of discovery, like a Renaissance explorer seeking to find out about the world. We peer into a forest of multi-layered information streams. Pursuing just one can take us on an exciting journey, but following multi layers of data streams opens up an entire new, exciting, multidimensional landscape of representations that goes way beyond our current grasp of things. 

The Challenge: 

Digital Catapult’s Data City Data Nations initiative and research challenge is one such odyssey. Big Data affords a myriad of possibilities and opportunities, limited solely by our own imaginations. It will be a game changer in our understanding of things. I write as a commercial and creative contributor to the Data City Data Nations programme, with my company providing a sample set of 100 anonymised users’ real-time health and wellbeing data, captured over eighteen months and linked to demographics and medical conditions. Combined with other data sets that Digital Catapult has brought together, these combined data sets are likely to reveal astounding insights, e.g. Big Data analysis of those with Alzheimers dementia helped refocus research away from one area of the brain and re-focus efforts instead on the patient’s immune system. Our Big Data challenge is to seek correlations between our real-time data in relation to medical conditions and to see if there are any opportunities to develop preventative and reactive health algorithms.

Wellbeing APP 

The opportunity to be part of Digital Catapult’s Data City Data Nations - ‘Health & Wellbeing’ and later ‘Population’ exploration. Digital Catapult’s initiative puts Dig Data in the spotlight. This opportunity offers my company huge benefits, and by extension our partners and the commercial and academic and research communities, as well as society as a whole.  Big Data is a currency that cannot be ignored. Failure to take on board this information revolution and incorporate Big Data into our respective ecosystems is a risk.

Circadian Rhythm 
 The data in itself is nothing new, but organisations tend to be complacent about the value of the data wealth they hold. Upscaling this and working in collaboration with others in the UK as well as in the international community, is a game changer, heralding a new era.
Using our imaginations and entrepreneurialism, the analytical tools currently at our disposal, and Digital Catapults effrots to reach out to the international community and provide a free ‘sandpit’ of data sets to play with, we truly enter a brave new world.

 As an entrepreneur with a love of the arts, I am impatient to see what comes out of this fast-evolving and shape-shifting picture. Technology today helps us answer many questions, but Dig Data can throw up more and provide insights, revealing what we haven’t realised or questioned before, because like all journeys you never know or see what’s just around the corner.

Andrew Cowen, Founder and CEO of The Future Care (UK) Ltd