startups And Financing
Nina Kiwit, CEO & Co-Founder of MindAhead, plays an important role in cognitive healthcare with a focus on digital therapeutics. With experience as COO of iRewardHealth GmbH and LOFINO GmbH, Nina is driving innovation in cognitive healthcare. MindAhead is the first therapy app designed for individuals with mild cognitive impairment and mild dementia, offering a science-based program for cognitive health needs. Let's delve into Nina's insights on the industry and the vision behind MindAhead's digital therapeutics.
1. What ‘aha’ moment led to the founding of MindAhead?
My ‘aha’ moment was probably when I realized that right now there is simply no cure for dementia - people get a diagnosis and in most cases sent home with nothing! They come back a year later, deteriorate, and get sent back home again. It is such a sad disease and the journey of cognitive decline is devastating for people with dementia and their caregivers. That’s when me and my co-founder decided that with technology and with an aging population that is tech-savvy, there must be something one can do. And well, there is - that’s why we built MindAhead.
2. What was your drive back then, and what change did you envision bringing to the field of cognitive healthcare?
My background is in digital health - more specifically in AI in healthcare, with no solution being available for dementia patients right now, I knew that combining tech with science would make it possible to at least offer some kind of support to people with mild cognitive impairment (MCI) or mild dementia. That was pretty much my drive back then - and it still is today. We are in the middle of our clinical trial right now, in September we will have the results of 50 patients. The change I envision to bring is to help people with a diagnosis and their caregivers on their journey.
3. How does MindAhead's digital tool significantly contribute to early detection and management of cognitive impairment?
For the treatment of mild cognitive impairment or mild dementia, we are currently in the middle of our clinical trial to show an increase in activity and an improvement in quality of life in the short term and cognitive changes in the long term. One of our advisory board members has conducted one of the most promising clinical studies in this area, showing a 90% reduction in cognitive decline within two years. As for the early detection tool, we are preparing it for clinical testing and aim to develop a simple and fun B2C solution that screens people on a larger scale for early signs of cognitive impairment.
4. What feedback did you receive from patients testing your solution?
One of the most exciting feedbacks we received was that our persona guiding through the program was perceived as a doctor giving recommendations, which was the goal of it. Also, the program was easy to use, with an interface and interaction options made for people with MCI/mild dementia.
5. How do you plan to scale your business and drive financial success?
We are planning to expand into EU countries where there are similar reimbursement mechanisms for digital therapies as in Germany. Afterward, we are also looking at the US, as the opportunities for digital therapy tools are striving there.
6. Is MindAhead's digital tool sustainable in providing long-term cognitive health benefits?
Our tool has been developed to provide long-term cognitive health benefits - we aim to teach people how to lead an active and fulfilling lifestyle, which is known to reduce cognitive decline.
7. How does MindAhead guide and empower users to make informed decisions when adopting your solutions?
MindAhead is based on behavioral activation for brain health, which means that it helps people find meaningful activities in three areas: cognitive, social, and physical. Based on individual values, we empower the user to try new activities that are known to improve quality of life. In addition, the app is prescribed by doctors who must first determine the diagnosis and general suitability for our solution.
8. What potential exit scenarios do you foresee for investors supporting MindAhead?
Two drugs are currently coming onto the market that target early-stage cognitive disorders. Combining our digital therapeutics with the drugs to increase efficacy would be the goal and also a potential exit opportunity for us in the pharmaceutical industry.
9. How do you envision MindAhead's future growth within the digital therapeutics sector?
The digital therapeutic we have developed can be adapted for other neurodegenerative diseases that target cognition, such as MS and Parkinson's disease. We are already in the initial preparations to adapt our tool for this and to prepare a clinical trial.
10. Do you have a mentor or figure in the tech industry whom you admire and draw inspiration from?
I am closely surrounded by entrepreneurs in all forms and shapes - they go through the same struggles, ups, and downs as I do, and sharing the journey helps to be inspired to keep on going.
11. Why should investors consider being part of MindAhead’s journey?
MindAhead's opportunity lies in its novel approach and timing: as there is currently no cure for dementia, we need solutions that can help patients and doctors now. It's a powerful way to change the world for millions of people and a lucrative opportunity when you consider the potential exit scenarios.
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