2. 1
The problem we are addressing
150-year old Surgical Training Model
Master: Educates while working
Apprentice: Builds career & learns while operating
Estimated Costs: $48,000 per apprentice per year in OR time alone )
OR Time getting more restricted resulting in more surgical errors
Limited Surgical Simulation
Robotic simulators: expensive, anchored, not for open surgery
(Estimated costs: $ 150,000 per robotic simulator)
Medical Errors dramatic increase
Third highest cause of death in the U.S.
(10 percent of all U.S. deaths are now due to medical errors)
3. 2
Our Medical VR ed-tech solution
*AAHKS-FARE 2018 Award to NYU & ORamaVR
The ground-breaking RCT Clinical Trial verified a, b, c
above for the first time since the 2002 Yale study
a. Reduces surgical errors (6x) through VR
psychomotor training and accelerates learning
b. Reduces training costs via skill transfer from VR to
the Operating Room (reduces 29% OR time)
c. Democratizes and scales up training with mass-
produced VR h/w and rapid prototyping VR s/w
The most advanced virtual reality (VR) software
simulation-based learning platform
4. 3
Encapsulated in our ovidVR Platform SDK, for
any gamified, psychomotor VR training
currently focusing on ortho-surgery operations:
* * *
Our deep, award winning*
proprietary technology: MAGES
M
A
G
E
S
ulti-player, shared virtual collaborative operating room
nalytics engine with cloud-based assessment
amified rapid prototyping based on Geometric Algebra
ducational Curriculum enhancing knowledge and skills
emantic representation and rapid prototyping patterns
5. 4
• Academic, Vocational Ed / Training
• Corporate
TAM: $ 432B
Smart Education &
Learning*1
“The simulation-based learning segment is anticipated to
exhibit the highest CAGR owing to the fact that this mode
enables corporates and educational institutions to create a
realistic experience in a controlled environment. It also
enables professionals and learners to practice, navigate,
explore, and obtain more information through a virtual
medium before they start working on real-life tasks.”
SAM: $6.4B*2
Medical / Surgical
Education
SOM: $1.06B
*1 https://www.grandviewresearch.com/press-
release/global-smart-education-learning-market
*2 proprietary market survey commissioned by ORamaVR to
Borgstrom & Cumby Consulting, for the US and global market
• Currently 6 direct competitors
• Assume 16.6% of SAM
TAM
SOM
SAM
80+ > 10
companies courses/yr
$30k-120k / course
Our Market
• $2.5B / 8,400 Med-device Companies
• $3.9B / 600 Surgical Residency centers
• Smart Education & Learning
• Educational Technology
• Experiential learning, simulation-
based learning
6. 5
Over 60 event
demonstrations
Over 10 long-term
installations
• University of Southern California, Keck Medical School, Prof. Dorr, Los Angeles, USA, 2017
• Foundation for Research and Technology – Hellas, Heraklion, Greece, 2018
• NYU Medical School, Prof. Macauley, New York, USA, 2018
• University of Sydney, Prof. Jinman Kim, Sydney, Australia, 2018
• University of Athens, Prof. Petrakis, Athens, Greece, 2018
• Univesity of Geneva, Prof. Nadia Magnenat-Thalmann, 2018
• Intel Executive Briefing Center, Santa Clara, California, USA, March 2018
• Oculus (Facebook), Menlo Park, CA, March 2018
• HTC/Vive, San Franscisco, CA, July 2018
• Google, Mountain-View, July 2018
• CES 2019, Las Vegas, January 2019
• VR@Healthcare , Zurich, November 2018
• ACM SIGGRAPH Asia, Tokyo, December 2018
• AAOS , San Diego, February 2017 - EFFORT 2017, Vienna, May 2017
6 Paying customers
Our global engagement
7. 6
Our Team
20+ years in Medicine,
Orthopaedics Surgery,
European Hip Society
Secretary General,
Founder ICAROS Ltd
Prof. Eleftherios
Tsiridis, MD, PhD
Chief Medical Officer
/ VP Sales/ Co-founder
15+ years in
Computer Science,
VR/AR, Graphics,
innovation, industry,
Academia, Education
Assoc. Prof. George
Papagiannakis
CEO / CTO
/ Co-founder
20+ years in
business
development, ex-
General Manager
Microsoft and Intel
Chris Tsangos
Board Member
Stelios Georgiou
Core VR Engine &
mechanics
BSc, MSc University of
Crete, Computer Science
Department
Mike Kentros
VR content developer
BSc, MSc University of
Crete, Computer
Science Department
Stratos
Geronikolakis
VR standalone &
backend developer
BSc, MSc University of
Crete, Computer
Science Department
Steve Kateros,
Lead Developer – VR
UX & Level Design
BSc, MSc University
of Crete, Computer
Science Department
Paul Zikas
Character gamification
& rapid prototyping
BSc, MSc University of
Crete, Computer
Science Department
Nikos Lydatakis
Lead Developer –
Platform Architecture &
SDK
BSc, MSc University of
Crete, Computer
Science Department
20+ years in
Computer vision,
Robotics and
Innovation,
Academia
Prof. Panos
Trahanias
Co-founder
8. 7
Our B2C2B freemium Business model
Freemium
surgeons, physicians,
health practitioners
$
Medical Schools
$$
Medical Device
companies
Current
Products
Description
ORama-TKA Total Knee Arthroplasty,
v2.4.14 Q3 2018
ORama-THA Total Hip Arthroplasty
(cemented-uncemented),
v2.4.14 Q3 2018
ORama-CO-OP Multi-Surgeon VR OR add-
on, v2.4 Q3 2018
ovidVR
Platform SDK
VR software development
kit for any VR educational
process involving
dexterous use of hands,
v2.4 Q3 2018
ORama-
Suturing
Basic Surgical Skills, v1.0,
2018
ORama-Dental Basic Implant placement,
v1.0, 2018
ORama-
Abdominal
In Production,
Bowel anastomosis
ORama-
Trauma1
In Production,
Endotracheal intubation
ORama-
Trauma2
In Production,
Trauma Patient Transport
B2C2B freemium Monetization Strategy:
• ORama Portal: http://elearn.oramavr.com
• Sponsorships and advertising
• Registration and monthly license
• Accreditation fees
• Medical schools (Universities and hospitals)
• Monthly license fee per user
• Customization cost per medical module
• Medical device companies (implants/robotic surgery)
• Monthly license/customization cost
• GTM collaboration, mass-licensing agreements
We transform healthcare outcomes with cutting edge science.
Imagine a flight pilot training one by one the new pilots and the flight simulators to be able to simulate only certain types of flights and certain aircrafts
5 billion people lack access to safe, affordable surgical and anesthesia care
5 billion people lack access to affordable surgical care
By 2030, there will be a 15 million world-wide deficit of healthcare workers
Imagine a flight pilot training one by one the new pilots and the flight simulators to be able to simulate only certain types of flights and certain aircrafts
5 billion people lack access to safe, affordable surgical and anesthesia care
we just do a coordinate system transformation and reposition ourselves with respect to the great picture:
TAM: Smart education and learning: 432 B by 2025
https://www.grandviewresearch.com/press-release/global-smart-education-learning-market“The simulation-based learning segment is anticipated to exhibit the highest CAGR owing to the fact that this mode enables corporates and educational institutions to create a realistic experience in a controlled environment. It also enables professionals and learners to practice, navigate, explore, and obtain more information through a virtual medium before they start working on real-life tasks.”
SAM: 6.4B
3.9B: 600 Surgical centers
2.5B: 8400 med device companies
SOM: 1.06B
6 direct competitors, assume 16.6% of SAM
$240M / 400 Ortho-device companies
$560M / 380 Ortho-Surgical centers
Why ortho? Numerous surgeries, big med-implant industry behind, in-house know-how, international network
28000 ortho-surgeons, 188 ortho residency programs, ~600 new surgeons in US alone
and as Peter Thiel says, we focus on 7:
seven questions that every business must answer:
1. The Engineering Question: Can you create breakthrough technology instead of incremental improvements?
2. The Timing Question: Is now the right time to start your particular business?
3. The Monopoly Question: Are you starting with a big share of a small market?
4. The People Question: Do you have the right team?
5. The Distribution Question: Do you have a way to not just create but deliver your product?
6. The Durability Question: Will your market position be defensible 10 and 20 years into the future?
7. The Secret Question: Have you identified a unique opportunity that others don’t see?
TAM – total available market
SAM – serviceable available market
SOM – serviceable obtainable market
Denmark 20 Feb – 7 Mar
Lead: Per Kjærsgaard-Andersen, MD, Ass. Professor, Head at Section for Hip & Knee Replacement, Department of Orthopaedics, Vejle Hospital, South Danish University
Site: Vejle Hospital
Nb of testers: 13
Sweden 27 Mar – 7 Apr
Lead: Gösta Ullmark MD, PhD Associate Professor, Överläkare/Consultant Trauma & Ortopaedic Surgeon. Past President and Chairman of Educational Committee of European Hip Society. Orthopedic Department, Division operation. Centre for Research & Development, Uppsala University/Region Gävleborg, Sweden. +4626154445, +46706466149 gosta.ullmark@regiongavleborg.se; www.regiongavleborg.se
Site: Gävle hospital, Västra vägen, Gävle
Nb of testers expected: 20
Netherlands 11 Apr – 26 Apr
Lead: Jan (A.N.) Verhaar, MD PhD, professor of Orthopaedic Surgery, Chair Department of Orthopaedics, Chair Division Dijkzigt of the Erasmus MC
President of Efort , Erasmus University Medical Center Room HS 105 +31 10 703 3281 j.verhaar@erasmusmc.nl
Site: Rotterdam University
Nb of testers expected: 25