Presenting at Kairos Summit 2010

Kairos CrestChronoWake is proud to have been invited to unveil our company at the Kairos Summit 2010 this Saturday, April 17, 2010. Ryan Goldstein, President/CEO, was invited to join the Kairos Society in April 2009. He will be unveiling ChronoWake on the trading floor of the New York Stock Exchange, after having gone through a challenging selection process and being chosen as one of the world’s 100 top student entrepreneurs. The unveiling is designed to:

  • Provide an opportunity to share entrepreneurial stories with the media
  • Connect with other top students who might join their venture
  • Share cutting-edge ideas with other bright minds
  • Provide selected investors with a first look at the companies of tomorrow
  • Create lasting mentoring relationships with successful leaders from around the world
  • Foster relationships with select professional firms

In attendance will be over 100 highly successful mentors, over 500 of the world’s most innovative students, and members of the local, national, and global media.

Additionally, an impressive group of featured guests will be in attendance, including Admiral William Owens (Former Vice Chairman of the Joint Chiefs of Staff), Peter Diamandis (Founder & CEO, X-Prize Foundation), Maria Bartiromo (Anchor, CNBC), Duncan Niederauer (CEO, New York Stock Exchange), Bob Berkowitz (Former White House Correspondent), Ellen Kullman (Chairman and CEO, DuPont), and many more.

The ChronoWake Team would like to thank the Kairos Society for the unique honor of presenting our company at this summit.

Potential Competitors

As the interest in, and popularity of, ChronoWake has been greatly increasing for the past year and a half, it’s not surprising that a couple of potential competitors have sprung up recently. We would like to address this in a public statement.

The first such competitor utilizes a motion-detection mechanism to attempt to determine the ideal time to wake up by estimating sleep stages. However, monitoring movement is only an indirect measure of sleep stage, and is thus, by definition, less accurate and precise than utilizing EEG (electroencephalography), the primary mechanism utilized by ChronoWake. It may occasionally wake the user at the ideal time, but not nearly at the rate of our product.

The second competitor does, in fact, attempt to utilize EEG to determine sleep stage. With some of our funding, the ChronoWake Team purchased this $400 product and tried it out ourselves. Despite a higher price point than our product, it doesn’t seem to work at all. In fact, during testing by one of our team members, he awoke several times during the night, once actually getting up and leaving the bed for a few minutes. In its sleep summary the next morning, this product claimed that he slept soundly through the night and never awoke until the morning. Obviously, if this product cannot detect whether one is awake or asleep, it will not be able to initiate waking at an ideal time.

In summary, both products appear to rely at least partially on the placebo effect. Conversely, our product relies on proven scientific methods to determine sleep stage. In fact, the only scientifically and medically valid way to determine sleep stage is primarily through EEG, as demonstrated by these papers, among many others.

Emergence of competitors is not a negative. In fact, we consider it a great sign – that the basis of our product has been validated in the business world. Other companies that have also done the market research have come to the same conclusion as us: there exists a large enough market to warrant large research and development expenditures. As a well-respected entrepreneur, venture capitalist, and professor once said, “If you can’t find any competitors, you either haven’t looked hard enough, or no one will want your product.” And with a technologically superior product, we have no doubt that ChronoWake will dominate this market.

Attending Biotech 2009

On behalf of ChronoWake, Ryan Goldstein, President/CEO, will be attending Biotech 2009, the world’s premier bioscience conference, taking place November 16 – 17, 2009 at the Pennsylvania Convention Center. Quoting the symposium overview:

From November 16-17, 2009, top bioscience leaders will be at Biotech 2009 to network, connect with potential partners, share business strategies, and learn from their peers.

These leaders include top executives from the region’s global pharmaceutical, biotech, medical device, and diagnostic companies; venture capitalists and other investors; university researchers; university-industry liaison officers; government officials; and support organizations.

In its ninth year, this annual joint symposium of BioNJ and Pennsylvania Bio is designed to advance the growth and development of the bioscience industry in our region. It will facilitate opportunities for information sharing, new skill development, networking, collaboration, and partnering among companies at all stages of the continuum.

Fred Hassan
Fred Hassan

Biotech 2009 will be featuring world-renowned speakers, including David Holveck (President and CEO of Endo Pharmaceuticals, a global pharma company with over 1,200 employees) and Fred Hassan (pictured on right, Chairman and CEO of Schering-Plough Corporation, a $50 billion healthcare company).

Registration for this event normally costs over $1,000. Thanks to a generous grant from the U.S. Department of Labor and the DVIN Life Science Fellowship Program, Ryan’s registration fee has been subsidized fully, allowing him to attend this event for free.

Find registration information here. If you’ll be attending, let us know, and be sure to say hello!