ConsidraCare offers live-in senior home care and live-out care services that are affordable and dedicated to supporting the elderly. This technological platform was created in order to address the global problem and demand for senior care.
“Almost 100% of seniors in Canada and abroad want to age in their homes, where they have built their precious memories and raised their families. Our goal is to construct a system of care and supplemental services that enable seniors to age where they are familiar and feel comfort and dignity.” said Dr. Saba Tauseef, CEO & Co-Founder, ConsidraCare.
ConsidraCare has been designed with the vision of expansion into international markets. Tauseef Riaz and Dr. Saba Tauseef, the Co-Founders, also have extensive healthcare and international venture-building experience that sets them apart from their competitors.
Additionally, the company is prioritizing a work environment where caregiving professionals have stable, respectable and fair employment opportunities.
Joining Altitude Accelerator
The startup registered with Altitude Accelerator’s Investor Readiness Program to develop and improve their investment pitch strategy and rapidly expand their investor network.
“We received great feedback on our business model, coaching on our investment pitch deck, and guidance on how to make our financial projections more appealing to investors. In addition, we were introduced to several experts who provided great advice on topics ranging from sales & PR to cybersecurity. We believe that the advice and support we have received from Altitude Accelerator has helped us significantly catalyze our founders’ journey,” reflected Dr. Tauseef.
Milestones & Looking Ahead
In early 2023 the start-up reached a celebratory milestone, with their first year of operations being complete with 10,000 hours of care delivered over their platform. They are developing their own proprietary software system, differentiating them from other home-care companies that use a one-size-fits-all platform. The services will be delivered at more competitive costs, with the ability to quickly add new features based on customer and caregiver feedback.
“Our long-term vision is to export the Canadian best practices for senior care abroad through our platform and become the leading provider of care and related services to seniors in emerging markets,” said co-founder Riaz, who heads up business operations and go-to-market.
“Technology cannot replace humans when it comes to caring for seniors,” said Dr. Tauseef. “But it can complement them. The innovation process requires evaluation, optimization and digitizing every aspect of the senior care delivery. Our innovation is all about empowering our caregivers through our technology to deliver the best possible care while creating full transparency for families so they can see in real-time how we are providing care to their loved one.”
Lessons Learned
“The biggest learning so far has been to not commit ourselves to what we think is the right business model too early in the game,” said Riaz.
Flexibility in the business and platform has kept the cash burn low and has allowed ConsidraCare to pivot into different business strategies and tactics until the one with the most viable path for rapid growth surfaced.
“Our top piece of advice to entrepreneurs would be to not spend too much time researching and designing their business. They should get out and test their idea by talking to a lot of people and researching the market. But they should not get stuck in analysis-paralysis. If they have conviction, they should build and launch their business as soon as possible, even if they have to operate it manually. As the saying goes, not many business models survive their first contact with a customer. The sooner the founders get into the ring, the sooner they can start figuring out how to win the entrepreneurial fight,” said Riaz.
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