OK2StandUP, a cutting-edge healthcare technology startup dedicated to preventing falls among seniors, is thrilled to announce a strategic investment of $150,000 from Ben Franklin Technology Partners of Central and Northern Pennsylvania (CNP).
In Pennsylvania alone, 71 older adults suffer serious injuries every hour, resulting in a total direct medical cost of $2.5 billion annually. OK2StandUP is the first artificial intelligence-powered fall mitigation solution developed for seniors and their caregivers. Their small, off-the-shelf wearable device and accompanying smartphone app help older adults avoid falls by alerting caregivers when an older adult is at high risk of falling…before they attempt to stand up.
“What sets OK2StandUP apart is the unique perspective of its founding team, who have lived in assisted living facilities during the product’s development,” says José Luis Otero, the Ben Franklin Portfolio Manager supporting OK2StandUP. “This firsthand experience has profoundly influenced the design and functionality of OK2StandUP’s revolutionary product.”
The immersive experience of observing nurses and care aides using the product in real-world scenarios across all shifts provided a deep understanding of their interactions. This hands-on approach facilitated the identification of issues, usability concerns, and areas for improvement, contributing significantly to the enhancement of the product.
The investment of $150,000 from Ben Franklin Technology Partners CNP will propel OK2StandUP’s growth and development. The infusion of funds will be dedicated to building a robust sales and marketing team, initially focusing on nursing homes in Pennsylvania and subsequently expanding across the United States. Plans include increasing the number of full-time employees to six in the first quarter of 2024.
Eunice Yang, PhD, Founder and CEO of OK2StandUP, advises startups seeking investment from organizations like Ben Franklin: “Be relevant and persistent. Our journey began with a single email to Ben Franklin in October 2021, leading to subsequent pitches and our participation in the Penn State TechCelerator program. Showcase how your startup can drive economic growth, innovate technologically, and create high-quality jobs. Persistence and a clear vision are crucial for impactful investment and sustained success.”
