Q1 2023, Message From The CEO

Transition, taking stock, timing our next run. These have been the themes of the company in Q1 2023. An element of venture company building that has always bothered me and felt misaligned with our founding mission and raison d’etat is the overemphasis on speed. Those in entrepreneurial circles will be familiar with the maxims, “move fast and break things,” “build at breakneck speed,” “blitz scale,” etc. Admittedly, there is some value to be found in such an approach; however, my entrepreneurial philosophy was primarily shaped by Jim Collins’ “Built to Last,” which eschews non-sustainable growth-at-all-costs methods. The recent spectacular failures of much-heralded startups testify to the perils of that mentality. From the beginning, the co-founding team of Collogh Cares Inc. has been clear that we are building a company that will last decades and potentially outlive us. We must go against the grain and make it sustainable to accomplish this. Hence, the themes of transition, taking stock and timing our next run.

On transition. We are in a critical phase of the startup, as we have a functional, minimally viable product (which you can demo here), and the next crucial step is its widespread use by clinicians and patients. As noted in the previous quarterly report, we are working with a team of nephrology researchers in Minnesota who will use the platform for a multi-year randomized controlled trial. The nephrologists overseeing the trial have begun testing the platform and providing feedback for the required development adjustments. The trial kickoff depends on their NIH grant approval, expected later this year. In Q1 2023, we held advanced discussions with Aetna-CVS clinical and venture development teams. However, it was agreed that we still needed to possess the capacity to handle the scale and complexity of their operations. This highlighted the need to be highly selective with our targeted clientele during this transition phase. Relatedly, it underlines the need for us to move the base of our operations to the United States of America – another form of transition. We learned that we need to be present in our target market, close to our clients and users, and well-connected in the ecosystems where the bulk of future financing will likely come from. This is another transition we are navigating in the coming months.

On taking stock. We were on a 12-month sprint in 2022 (more like a 20-month sprint if you counted our early incubation in 2021) with product development, fundraising, regulatory strategy, and early commercialization. These efforts achieved multiple milestones, including reaching the landmark of USD 500k in total funds raised (from investors and grants). In Q1 2023, we took stock of what we have accomplished, the myriad of mistakes we have made, and, most importantly, the people we have met and worked with on this journey. This has enabled us to gain clarity on the most critical lessons learned, the people we would like to continue working with moving forward, and how to avoid the common pitfalls of our stage as we aim toward our next sprint.

On timing our next run. As an avid soccer fan, one of the greatest joys of the game is watching a striker score a goal from a well-timed run. The best strikers in the game know how to conserve energy, when to stand still, and when to run in behind at the perfect split second, to beat the offside trap and “get in on goal.” This is an apt analogy for us in Q1 2023, where we focused on gearing up, figuring out the timing of our next sprint to coincide with the transition, as mentioned earlier, and bringing the right people on board for the next phase.

Having said all of that, Q1 2023 was nonetheless eventful. Here are three significant updates I would like to highlight:

1.) Grants: We were approved for CAD 260k contributions from the Quebec Ministry of Economy & Innovation during Q1 2023. This resulted from months of hard work and diligence by our CFO/COO, Collins Nwalih, supported by the development team and advisor, Zac Bensemana.

2.) Transition to Boston: I received admission to the Master of Public Health in Health Management program at Harvard University, scheduled to commence in August 2023 and conclude in May 2024. My research and practicum at the program will focus on kidney disease in the USA. This program will facilitate our plans to build operations in the USA, hold our next financing round with US-based investors, and develop critical relationships with US health systems and health management plans. I want to use this opportunity to assure our existing investors that my attendance at Harvard will enhance and turbocharge, and not hinder, the company’s progress. I will be moving and setting up an office in Boston in August, leveraging our relationship with the Harvard Innovation Labs, but I will frequently commute to Montreal as needed.

3.) NephroAI: In late 2021, predicting the growth of artificial intelligence (AI) tools in the mainstream, we applied to the US Patent & Trademark Office for the rights to the “NephroAI” trademark and purchased the nephro.ai URL. NephroAI is a short form for “Nephrology AI.” We are pleased to announce the launch of our first product using the NephroAI brand. Nephro.ai is a free-to-use kidney disease education centre. In fact, to the best of our knowledge, it is the world’s first AI kidney disease education centre. Please use the platform extensively, provide feedback on the platform, and share it widely with your network!

On that note, we thank you again for your support.