Social mission:
Hearing impairment is a hidden epidemic. 15% to 20% of the population in the world would benefit from hearing aids and over 38% of the world has significant hearing loss. Yet most of the affected are not aware of their condition or are daunted by the process to receive free or low cost government hearing care – scheduling a free hearing test typically requires a 3-6 month wait, and if eligible, receiving and fitting a free hearing aid takes up to 3 years.
ACE HEARING is the world’s first validated technology to provide accurate hearing screening for the masses. With a calibrated mobile device and headphones, a trained person (e.g. a nurse) can administer a hearing screening session at the point of need within 5 minutes.
This technology has been verified by a series of clinical trials with 5 medical journal publications, showing that ACE HEARING can effectively broaden the reach of hearing health care to the general public.
The mission of the company is related to poverty alleviation because its technology can assist the hearing disadvantaged communities.
Business model:
ACE HEARING is already deployed in South Africa for public hearing screening and corporate wellness programs. The business is self-sustained on a screening fee, paid by the subject or subsidized by government/insurance. Should a subject be deemed to require further assistance and evaluation, a referral is given and there may be a referral fee.
Team Composition:
Founding Team:
Prof. Andrew van Hasselt, Paul Lee, Andy Cheng, Dr. Anna Kam, Prof. Tan Lee and Dr. John Sung
Impact:
ACE HEARING is a Hong Kong invention that has found a foothold in the Third World, and we would like to bring it back to benefit the Hong Kong community.
Although hearing impairment is an invisible and tolerated disability, it has a significant negative impact on affected people, their immediate circle and society in general. According to a 2007 report by the Better Hearing Institute titled “The Impact of Untreated Hearing Loss on Household Income”, untreated hearing loss was shown to negatively impact household income on average up to US$12,000 in the USA. At a 15% tax bracket, the cost to the US society could well be in excess of US$18 billion due to unrealized taxes.
The use of hearing instruments is shown to mitigate the effects of hearing loss by 50%, and historically one of the biggest hindrances is the lack of awareness and inaccessibility of hearing screening/testing. ACE HEARING is designed to change that.