Since our last work log, here's been the progress we've made:
- The newest prototype is nearly done! Good work Ethan, and stay tuned for pictures and video of it!
- We successfully tested the size of the base we'd need for a completely stable lifting experience. The results were surprising- at 24 inches of lift, four 15-inch legs provided a stable lifting experience, and at 12 inches of lift, four 12-inch legs were more than sufficient to prevent tips and falls.
- We've begun drafting the documents we'll need for grant applications. We'll also be working with Dr. Mary Isaacson at the OU-Tulsa campus, who has agreed to help with the case studies to improve our chances of receiving the grants. We've also connected with two professional grant writers who can help us write and edit the grant applications, as well as find more grant opportunities.
- We've received a quote for product liability insurance. For a $10,000 annual premium, Levaté will be covered during the case study trials and commercial launch.
- We've identified that Levaté will be considered a Class II device by the FDA, necessitating about $6,000 in fees as well as a slightly more in depth application, which we'll need to submit 90 days in advance of commercial launch.
- Progress has been slow on the licensing agreement. We will be meeting the OU Office of Technology Development tomorrow to discuss the terms of the licensing agreement. OU is claiming ownership of the IP as we invented it through an internship program at the University of Oklahoma.
Here's what we'll be working on for the next two weeks:
- Finalizing and filming the newest prototype
- Working with our new connections to submit at least the two current grants we've identified through the National Institute of Health
- Connecting with engineering consulting firms to get price estimates, as well as exploring new lifting technologies beyond pneumatic cylinders
- Launching and publicizing a kickstarter crowdfunding campaign to fund Levaté
- Moving the licensing agreement forward, and settling on terms that work for both Levaté and OU
Let us know if you can help, or know someone who can help, with any of the above items!
Thanks, and until next time,
Dillon Dakota Carroll