AltFi is launching a Crowdfunding Campaign of the Week program – showcasing the best of the UK crowdfunding scene on a weekly basis.
The first project to claim the honour comes from the world’s foremost equity-based platform – Crowdcube. Brain in Hand is an assistive smartphone technology designed to improve the lives of those living with mental health conditions. It can be used to help those with lifelong conditions – such as autism or brain injury – or by individuals who require short periods of support due to, for example, an anxiety disorder. Brain in Hand helps users to achieve levels of independence that were not previously possible.
How does it work?
Matters that most of us would fail to even recognize as potentially problematic can become debilitating obstacles for those with mental health conditions. Brain in Hand uses a cloud-based service that synchronizes with a smartphone or tablet app, combined with a telephone based support network. It records solutions and provides a knowledge bank of coping strategies for a variety of situations. To offer a practical example, for the task of catching the bus – the app would present a user with the following options: check the bus timetable, phone the bus information line, call a taxi, or walk instead. It also features a mood monitoring function – enabling any sign of distress to be detected early, triggering a support call from a helper. You can learn more about the product by visiting the Brain in Hand website.
Below are summarized the key takeaways from Brain in Hand’s video pitch on Crowdcube, featuring CEO David Fry.
Tried and tested: “During three years of trials and active use by four NHS trusts and five schools and colleges, we’ve proved the profound impact we have – providing this gateway for people to lead productive and fulfilling lives”. “Our schools are already using it to support students with a variety of other conditions.”
Purpose of the fundraise: “We want to grow the number of trusts, schools, individuals and other organizations using the solution by scaling up our marketing and support infrastructure.”
Endorsed by the Angels: “Of the £750,000 needed, over half is already secured, mostly from experienced investment professionals. We’re seeking £100,000 through Crowdcube.”
Ethical element: “Brain in hand is both a sound business investment, and perhaps more importantly an opportunity to transform thousands of lives.”
Amount raised so far: £72,720 from 78 investors
Largest single investment: £25,050
Fundraising target: £100,000
Equity offered: 7.90%
Tax relief: EIS
Days left: 10