4 MAY 2020
Philia Labs Pty Ltd is developing sensor technology that tracks acute and chronic stress. This will give individuals valuable insights to help manage stress, enjoy good mental health and achieve their potential in life.
Philia Labs’ proprietary algorithm and sensor technology enable an integrated phone app, wearable and reporting system to track stress in real-time.
This will make it possible for individuals to objectively track chronic stress as well as acute stress, identify stress triggers and build new habits to strengthen resilience.
Beyond Blue explains that stress is a common response to tough events or situations. While some stress is normal and stress itself is not anxiety or depression, chronic stress may be a risk factor for developing these conditions.
The new technology from Philia Labs will make it possible for individuals to objectively understand how stress is impacting their life and develop new habits to manage stress.
Philia Labs is set to make a difference not only in the lives of individuals, but in society more broadly. Almost half of Australians (45%) will experience a mental illness in their lifetime (ABS), while depression and anxiety cost the global economy around US$1 trillion each year in lost productivity (WHO).
The idea to measure stress was born when Philia Labs CEO, Dilpreet Buxi finished his PhD on cuffless blood pressure monitoring in 2017.
“I thought, if blood pressure is constantly measured, why can’t the same be done for stress? More people are affected by stress than high blood pressure.”
Losing two colleagues to suicide, and his lived experiences of stress and anxiety make this endeavour a personal mission for Dilpreet and drive him to make the idea work.
“I was labelled as a stress freak in school and during my military service. I did not realise that I was suffering from anxiety,” says Dilpreet.
On his startup journey, Dilpreet has seen that he isn’t alone and that there is a real need and demand for his innovation.
“During our initial product validation, we heard from too many people that they would love to use the data that we will produce to find out what causes them excessive stress and to form new habits in stress management.”
The Philia Labs team joined The Accelerator in 2019 to understand how to validate their product and business, and set up their value chain.
Delivered by the MedTech Actuator, the 15-month, industry-led, venture-backed program aggressively funds and accelerates medical, health and biological technology startups. The MedTech Actuator works alongside venture capital partner Artesian to support startups on their journey.
The Accelerator has helped the team to develop a go-to-market strategy and an accompanying technical development plan.
“We’ve done a thorough market analysis from over 100 interviews with clinicians, corporate health providers, resilience coaches, HR professionals and clinicians,” says Dilpreet.
The team is currently undertaking a value proposition trial with customers.
“We’ve interviewed 25 people who have lived with high levels of stress and anxiety and surveyed 100 people about their willingness to use and pay for our products.”
Dilpreet says that The Accelerator has given the team valuable knowledge and networks.
“We have been trained, pushed and encouraged to evolve from a research group into a proper startup that is now focused on validating a product and business model, and pitching to customers and investors.”
To learn more about Philia Labs and follow them on their journey, go to www.philialabs.com.au.
Do you have a MedTech, HealthTech or BioTech prototype to improve or save lives? Find out more about The Accelerator.
If you or someone you know needs help:
Lifeline on 13 11 14
Kids Helpline on 1800 551 800
MensLine Australia on 1300 789 978
Suicide Call Back Service on 1300 659 467
Beyond Blue on 1300 224 636
Headspace on 1800 650 890
Care Leavers Australasia Network (CLAN) on 1800 008 774