Featured Startup Pitch: iHear Medical shatters its crowdfunding goal for its web-enabled hearing aid system

By Adnan Shennib, iHear Medical founder and CEO

Elevator Pitch: iHear is developing innovative solutions for hearing loss by offering a revolutionary web-enabled hearing aid system. The new approach delivers high-quality invisible-in-the-ear hearing devices to the consumer’s home at a fraction of the cost, removing major barriers to hearing aid acquisition and use.

Product Description

iHear Medical is introducing the world’s first web-enabled hearing aid system, targeting tech-savvy consumers seeking alternatives to overpriced conventional hearing aids. The advanced technology offers hearing solutions at a fraction of the cost, and in smaller form-factors for invisible wear.

In addition to offering dramatically lower cost and inconspicuous wear, the iHear system intends to revolutionize the dispensing process by offering consumers online tools to administer the entire fitting process—from hearing testing to individualized calibration of the hearing device, all from the convenience of home.

Founder’s Story

I founded Hearing For All in 2010 to bring advanced hearing solutions to people with hearing loss, including the economically disadvantaged. My team and I were involved with several hearing startups which became major industry players. After spending decades in the hearing aid industry, we realized that most individuals cannot afford the extremely high cost of state-of the-art hearing solutions.

I hold over 100 U.S. and international patents, issued and pending. My innovations have received major recognition, including the Medical Device Excellence Award, and were featured in major media outlets, including CNN, The New York Times, The Dr. Oz Show, USA Today, and Inc. magazine.

Marketing/Promotion Strategy

The company focuses on online and direct-to-consumer marketing, and a public relations campaign to promote the product.

Market Opportunity

In the U.S. alone, there are over 40 million Americans who suffer from hearing loss with prevalence predicted to rise significantly due to an aging population, growing use of personal listening devices, and hearing injuries for war veterans.

Hearing loss is associated with a wide range of social, economic and health problems caused by communication barriers and reduced access to health care for those suffering from hearing impairment.

While 95 percent of individuals with hearing loss could be successfully treated with hearing aids, only 22 percent currently use them due to persisting barriers, including high cost, limited access, and the stigma associated with wearing a visible hearing aid.

How We Differentiate From the Competition

We offer the only web-enabled hearing aid system, and the first affordable invisible hearing aid.

Business Model

iHear offers disruptive technology and business models by offering hearing solutions online instead of relying on clinical settings. This saves the consumers thousands of dollars.

Current Needs

We are in the middle of an Indiegogo crowdfunding campaign offering our products on a pre-order basis at huge discount. The new approach delivers high quality invisible-in-the-ear hearing devices to the consumer’s home at a fraction of the cost, removing major barriers to hearing aid acquisition and use. The campaign has already doubled its goal at $134,000 with 14 days left to go!

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Headquarters: San Leandro, California

Founder: Adnan Shennib

Investors: Aphelion Capital, Highlight Capital

Year Founded: 2010

Indiegogo Campaign: indiegogo.com/projects/the-first-affordable-invisible-hearing-aid-with-superior-sound-by-ihear

Twitter: @iHearMedical

Facebook: facebook.com/ihearmedical

CrunchBase: crunchbase.com/company/ihear-medical