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BIOFEST INVEST APPLICANT
T4 Movement
- 5712 BERRIWEATHER DR, AUSTIN, Texas 78724, US
- www.t4movement.com
Company Contact:
Legal Entity Type: LLC
Company Type: Digital Health
Company Stage: FDA Approved / Early Launch
No. of Employees: 2
Desired Financial Amount: $250,000 in seed funding.
Background
Company Background
T4 Movement is a movement analysis solution provider that helps healthcare providers and patients understand the biomechanical root cause of patient musculoskeletal disorders and improve rehabilitation outcomes. Our company was founded on 5/27/2021. The Technology has originated from the applied technical skillset of our management team towards a goal our company is passionate about.
T4 Movement’s mission is to help patients with musculoskeletal disorders (MSK) overcome their challenges by identifying the root cause of their issue and improving rehabilitation outcomes. T4 Movement reaches the MSK patient population through our healthcare provider customer base of Physical Therapists, Sports Medicine Doctors, and Chiropractors. Our automated solution collects patient movement pattern data via video recording, analyzes movement deficiencies, and reports our unique findings. Our solution saves healthcare providers time and costs in their evaluation and reimbursement reporting process and helps guide successful patient rehabilitation.
Management
Tony Treser is the Founder and Chief Executive Officer of T4 Movement. Tony’s passion for healthcare technology innovation is motivated by his own rehabilitation breakthroughs as a patient enduring chronic back pain for 15 years. Tony has eight years of technical sales experience with expertise in computer vision hardware and software. Tony received the President’s Club award while working at Cognex Corporation for his outstanding sales results in bringing new computer vision technologies to market. Tony earned his MS in Biomedical Technology Commercialization at the University of Texas at San Antonio (UTSA); his MS project work focused on integrating biomechanical analysis technologies into Physical Therapy rehabilitation clinics.
Ethan Trotter is the Chief Technology Officer and Co-founder of T4 Movement. He was awarded a Bachelor’s Degree in Biomedical Engineering with High Honors from UTSA. During his time at UTSA, he participated in laboratory research and developed a project to culture and automatically quantify the strength of muscle micro-tissues, a project that contributed to the development of computer vision skills, as well as empirical investigation and data analysis. Outside of school, he founded and ran a successful personal training business for 5 years. While working with clients, he used several open-source pose estimation models in order to enhance the instruction provided to clients and gained insights into the effective application of this technology.
Dr. Gianluca Zanella is a part-time Information Systems Engineer with T4 Movement. Dr. Zanella has a PhD in Information Systems, an MS in Management of Technology, and an MS in Theoretical Physics. He has been CTO and technical lead for startups in the healthcare software industry and founder/CEO of an IT software company.
Emmanuel Oluga is a part-time Data Engineer with T4 Movement. Emmanuel attained an undergraduate degree in Electrical Engineering in 2019. Currently, he is finishing a graduate degree in Computer Engineering.
Board of directors
Dr. Christopher Powers, Accuracy Verification and Validation Consultant.
Dr. Michael Oldham, Data Analysis Consultant.
Dr. Kimberly Davis, Product Development Consultant.
Dr. Eric Rhoden, Dataset Collection and Analysis Consultant.
Zac Bujnoch, HIPAA Compliance and Regulatory Pathway Consultant.
Product / Service
disease area / application
Musculoskeletal diagnostics
product / Service
PTs today face the challenge of addressing a steadily increasing patient demand against steadily decreasing insurance reimbursement rates. Literally being asked to do more with less, PTs need to be more efficient in the delivery of their services. T4 Movement provides a low-cost, automated solution to help expedite movement analysis work and increase operating revenue in an industry where every minute and every dollar is meaningful. Our innovation provides gait-specific automated reports that relate movement abnormalities to the root cause of pain, improving patient outcomes; this unique reporting capability is our key differentiator. Our innovation has the potential to improve the quality of life for up to 124 million US adults affected by musculoskeletal disorders, saving billions of dollars in annual personal healthcare spending.
technology / ip
The goal of T4 Movement is to provide a turn-key gait analysis solution to Physical Therapists (PTs) at scale to enhance the diagnostic process for common musculoskeletal and neurological pathologies. The technological innovation presented here integrates a number of techniques demonstrated in artificial intelligence engineering and in academic literature in order to provide an original gait analysis system. The product is a ‘stack’ of Convolutional Neural Networks (CNNs) trained on a proprietary dataset, machine learning algorithms applied to unique feature sets composed of movement patterns correlated to phases of gait, and an algorithm for extracting relevant information from this data and presenting it succinctly. This goes a step beyond the current state-of-the-art products by curating the most immediately relevant and actionable observations, a need identified during I-Corps interviews.
distribution channels
Through participation in the NSF I-Corps program, T4 Movement has established contact with over 30 organizations in the Southwest region of the United States that fit our target customer archetype. We will take a direct sales approach to secure our first customer contracts. T4 Movement plans on working closely with our initial customers to implement our solution, provide consulting services, and to learn from our early adopters. We will continue to build customer relationships through industry trade shows, educational social media content, and word-of-mouth referral. Our goal is to secure 10 new customer contracts in our first year; our intention is for each of these early adopters to continue ongoing use of our services via our recurring revenue business model.
market size
T4 Movement expects to earn $12,500 in total revenue from each new customer clinic in year 1 and $7,500 in recurring revenue each succeeding year. Our five year revenue goal is to reach 200 unique customer clinics, earn $1.9M in annual revenue and $4.2M in lifetime revenue. While $1.9M is our serviceable addressable market (SAM) today, the total addressable market for our physical therapy solution is $37.3B dollars.
competition
Markerless video-based movement analysis (VBMA) technology for healthcare applications is a potentially disruptive field with several newly-emerging competitors vying to establish product-market fit. T4 Movement anticipates that competition will grow more intense as we work to enter the market. T4 Movement identifies Dari Motion, SIMI Aktisys, and Theia Markerless as its primary competitors because of similar core technologies and use cases.
Our competitors position themselves to be all things (any movement application) to all people (R&D, healthcare, athletics, etc.) while T4 Movement is focused on gait analysis for PT applications. This enables T4 Movement to offer gait-specific actionable insights while our competitors simply output raw data, causing “paralysis by analysis” to the busy PT end-user. Our competitors focus on 3D technology (requiring 4-10 cameras), which drives up equipment cost and setup time while compromising speed and robustness. T4 Movement’s 2D technology offers equivalent accuracy with easier use, more mobility, and more robustness at a 5-10x lower price point. The first principles design approach and close customer communication have allowed us to lay a foundation that is orthogonal to the existing approach of these companies, and will be difficult for competitors to effectively mimic.
Financials
Desired financial amount
$250,000 in seed funding.
previous funding
T4 Movement has raised $136,000 in non-dilutive funding:
-$50k Founding Team personal investment
-$8k UTSA Big Rowdy Idea Competition
-$3k NSF Regional I-Corps
-$10k 10G Challenge “People’s Choice Award”
-$50k NSF National I-Corps
-$15k Texas Business Hall of Fame Award
current financials
In 2022, T4 Movement received $46k into the bank account through previously mentioned funding. T4 Movement spent $47k towards prototype hardware, independent contractor work, and general sales expenses.
Our burn rate is less than $1,000/month as most spending is eposidic.
We have $10k in available cash.
financial use
Milestones for this round of funding:
-10 customers and/or $100k ARR
-Technical Development – transition from fixed-mount camera solution to mobile solution
revenue
T4 Movement operates a razor-and-blade style business model that consists of a one-time setup purchase ($5,000) along with a recurring fee-per-use ($5) reporting service. The cost of setup and reporting fees can vary depending on customer relationship, usage volume, etc. The one-time setup purchase includes a hardware asset sale (mobile device for data collection), physical and cloud-based setup fees, and consulting fees. Once the setup process is complete, the customer is ready to use our automated gait analysis solution on a fee-per-use basis. During operation, patient movement data is collected through an onsite gait analysis test, analyzed by T4 Movement’s cloud-based software, and reported back to the provider in the form of a PDF summary
T4 Movement is pre-revenue but should earn our first revenue by the time of the competition.
Our first customer has signed a letter of intent for a $1,000/month subscription contract from April-December 2023 ($9k total).
exit strategy
T4 Movement intends on building and operating a successful and profitable company.