How a founder raised 500k when he was 16 years old

In one line, what do you do and what is your most significant achievement?

I raised 500k at 16, here's my story!

Who are you and what business did you start?

I'm Sidd, 21 this year, and an incoming undergraduate at the University of Oxford. I founded Newton's Meter at 14.

Newton's Meter is a machine learning-based safety and security device. We're able to automatically detect crashes and falls, send alerts to emergency services, and critically reduce the time needed to receive life-saving medical care. Parallely, we offer a theft-proof access control system as well as big data analytics.

85% of the time someone is involved in an accident that requires medical attention, they've already been knocked unconscious by the impact, rendering them unable to call for help, or even press a button. We Call For Help When You Can't®. Reducing medical response times below 10 minutes(Platinum Ten), or 60 minutes(Golden Hour) leads to much higher rates of survival, and Newton's Meter facilitates saving lives.

To ensure that there aren't false alarms, we use a machine learning module which customises itself to the user after 150 hours of use.

When we found that we had these unique motion prints, we developed a theft-proof access control use case. Unlike RFID or physical keys, which can be compromised if stolen, if an access control enabled Newton's Meter device is taken by someone unauthorised, we can automatically detect a mismatch of profiles, and deny access control privileges while alerting the supervisor.

In data analytics, two main uses of Newton's Meter are predictive injury prevention in sports/military training settings, as well as space optimization in an industrial environment.

What's your backstory?

An accident had occurred near me, it was pitch black, and while I heard a loud bang, I couldn't see anything when I looked outside. In the morning, I found out that a person had passed away in a crash nearby. I further learned that he didn't die on impact, but due to excessive blood loss.

I felt personally guilty about this, since had I been able to see him, I would have been able to save his life. Months passed, and I attended an IoT seminar at Block 71; I found out that IoT technology could be used to communicate without human intervention. I thought if a person is incapacitated and not able to call for help, and there's nobody else around to help, could a device call for help on his behalf? That was the foundation of Newton's Meter.

What should be the first steps to take to enter your industry?

Be very clear on how your solution would target an existing problem, before you invest in R&D. Know the technology you're working with, or know someone who does. Be rigorous in testing and quality control, no compromises can be made when it comes to lives.

How did you spend your First 100 Days of launching your business?

I started by looking for technical experts to help me build this solution, while at the same time looking for grants and other funding sources. So effectively, it was full of many interviews, with me alternating which side of the table I sat on depending on who I approached.

Prior to starting, I'd done idea validation and saw that Newton's Meter would directly address a pertinent problem, which is crucial before any other steps are taken.

Since launch, what has worked to attract and retain partnerships/customers?

A constant expansion to the ways we can add value to a customer/organisation. This can take many forms, such as technological or business model improvements, but for this to occur, maintaining open lines of communication is crucial. This allows us to listen to customers' pain points and modify our solutions accordingly, while also seeing how we can adapt our existing technology to address other concerns that customers have, providing a more integrated and expansive service.

What has taken you from 0 to 100?

Enterprise Singapore. We received our first grants from them, which really helped with R&D costs, but they've also helped us in many qualitative ways. The rigorous interview processes for each grant trained me on how to best articulate the value of Newton's Meter.

Being selected as one of only ten startups to exhibit at the Singapore Pavilion in Eureka Park at CES 2019, and again in 2020 was eye-opening, and directly led to us being able to raise that $500k, as well as gain pilot projects.

Lastly, they're the ones who suggested I go for competitions/awards, and the reach and credibility generated by winning many of them have been transformative for Newton's Meter and for me.

What is one underrated thing in your industry that business owners should start doing/using?

Look at how a specific technology/solution can be adapted to massively increase reach.

Newton's Meter was started primarily as a way to reduce medical response times in road accidents, with only a B2C model. We then expanded into eldercare with the same technology, with the alerts being sent from the device to the phone via Bluetooth, and then cellularly transmitted by the phone.

However, just by using another transmission method, a transceiver-based Local Area Network(LAN), we were able to offer B2B use cases, such as on offshore platforms, deep excavation sites, and nursing homes.

Similarly, the moment we realised we had a unique motion print of users, we ventured into our theft-proof access control, providing heightened security for our B2B clients. We also immediately went into preventive injury detection when we realised data collection would be allowed in the B2B/B2G context, since all that data would remain within the organisation.

At the same time, business owners should talk about solutions, not technologies. Jargon and the specific way technologies work can confuse clients, and create a disconnect, but making clear to them what problem you're solving/value you're adding allows a lot more of your pitch to stick.

What was one failure you had to go through that others in your industry should look out for?

We didn't carry out enough market research before starting R&D, and had incorporated Narrowband-IoT(NB-IoT) as a transmission method in our Prototype. While the technology was very energy and cost-efficient and allowed our B2C product to work independently of a phone, there wasn't sufficient infrastructure to make it universally applicable.

It's thus important to consider not just how well a technology works, but also how well integrated it is with other technologies, as well as its scope of applicability.

What platform/tools do you use for your business?

Notion, Slack, One Drive

How are you doing today and what does the future look like?

There are discussions on divestment which would provide us with significantly more capital to scale our solution. Personally, I've also been working on two other projects, one as the Strategy Director for a Remote Patient Monitoring(RPM) MedTech startup, 2AIDATA, that uses Machine Learning to increase the level of care in an outpatient setting. Another is as the co-founder of an Educational Consultancy startup that provides an integrated service to help polytechnic students gain admission to the world's best universities.