Over 3 years ago, a team of students at the University of Colorado Boulder decided to use their engineering and design skills to invent a technology that helps older adults improve their mobility and prevent falls. This team founded StrideTech Medical Inc. and this week the USPTO issued them a patent for their technology, StrideTech Go. We all know that a patent is not necessarily defensible for an early stage company. So, what does a patent really mean for StrideTech Medical?
A patent showcases the novelty of StrideTech Go, nobody else has created this technology. Receiving a utility patent is a long, challenging and expensive process, showcasing the resilience and dedication of the team. This patent is only the beginning. StrideTech Medical has already filed an international patent application and plan to continue expanding their intellectual property through trade secrets and research efforts.
The need for this patented technology becomes evident when you look at seniors falling statistics. One in four adults aged 65 and older falls each year, leading to over 3 million emergency department visits and approximately 800,000 hospitalizations annually. Falls are the leading cause of fatal and nonfatal injuries among older adults, costing the healthcare system billions of dollars. But beyond the numbers, each fall has real consequences for independence and quality of life. Many seniors who fall once develop a fear of falling again, which leads them to limit their activities. This reduced mobility actually increases their fall risk, creating a dangerous cycle. The widespread nature of this problem makes StrideTech's innovation particularly important for addressing a significant public health challenge.
StrideTech's patent opens up exciting possibilities for the company. As an early-stage company, this patent is an important factor in creating value for investors. Since sales for medical devices can take time due to FDA approval, patents make up a significantly greater portion of enterprise value for early-stage companies. Furthermore, this patent could lead to collaborations, joint ventures, and licenses with strategic partners.
With 6 of the top 10 tech giants diversifying into the healthcare industry, they are making significant acquisitions and adopting a more data-driven approach to healthcare. This shift in industry focus caters to StrideTech’s technology and presents partnership opportunities with tech companies who are unfamiliar with the clinical and regulatory aspects of this industry.
StrideTech’s patent is just the beginning. If you are interested in hearing more about StrideTech Medical, and the opportunities you may have to join our venture, join our mailing list and stay tuned for more exciting updates!
It’s designed for seniors, families, and healthcare providers looking for a more advanced walker attachment with analytics.
Yes, StrideTech Pro is compatible with most standard walker models.Yes, StrideTech Pro is compatible with most standard walker models.
StrideTech Go is ideal for everyday use, while StrideTech Pro adds smart data analytics for healthcare-focused monitoring.
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