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| Source: | Contracts Finder |
| Notice Type: | Award notice |
| Buyer: | Newcastle University |
| Main Category: | Services |
| Procurement Method: | Restricted procedure |
| Tender Status: | Closed |
Pipeline status
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Application Deadline
9 January 2023
Closed
Estimated Value
£30,000
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| £30,000 |
| Release Date: | 15 March 2023 |
| Application Deadline: | 9 January 2023 |
| Contract Start Date: | 13 February 2023 |
| Contract End Date: | 31 March 2023 |
| Contract Duration: | 2 months |
| Procurement ID (OCID): | ocds-b5fd17-81d8265e-038e-41df-89b7-f5a4beeb6ff8 |
| Notice Reference: | fb7143a9-d582-49a6-ad49-0e333335ed9d-624400 |
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Awarded to
| Award value: | £30,000 |
| Award decision date: | 3 February 2023 |
| Award status: | Active |
Neuroscience has revealed the importance of brainwaves for healthy and pathological brain function. Manipulating brainwaves can affect mood, memory, attention and sleep, with therapeutic benefits in conditions ranging from ADHD to anxiety to Alzheimer's, but current neuromodulation techniques are limited. Through research led by Newcastle University, we have demonstrated how 'closed-loop' neurostimulation (whereby brain signals control brain stimulation in a real-time feedback loop) can boost or suppress brainwave oscillations at different frequencies). Neudio combines closed-loop algorithms with non-invasive technologies (surface EEG recordings and musical stimulation) to regulate brainwaves. Effectively, our technology establishes a resonance between brain activity and music that enhances or suppresses brainwaves at specific frequencies. The initial brief of the executive will be to: Phase 1 - Write an ambitious business plan in line with ambitions and market opportunities Phase 2 - Obtain IP Spin Out Committee Approval Phase 3 - Complete spin-out legal process and act as company representative in legal formation of the company Phase 4 - Prepare investment pitch deck and due diligence documents Phase 5 - Initial negotiations to secure angel, seed or capital funding Stage (5) will produce the funds by which the new start-up company can consider employing the executive going forward