ASX-listed InteliCare has joined the winners list in this year’s Deloitte Technology Fast 50 Rising Star Awards. The coveted program is in its 20th year and looks to rank Australia’s fastest-growing public or private technology companies, providing international recognition for local innovation. InteliCare is successfully harnessing artificial intelligence, or “AI” to provide smart home monitoring solutions to help care for the elderly and disabled people.
The Deloitte Technology Fast 50 2020 Australia program recognises and profiles fast growing technology companies and ranks them based on percentage revenue growth over the last three years. The global reach Deloitte’s provides also offers a level of international recognition to the companies that feature in the awards.
InteliCare placed eleventh in Deloitte’s Fast 50 Rising Star rankings with revenue growth of 321 per cent - an outstanding result for the Perth-based innovator which only listed on the ASX back in May this year, after 50,000 hours of product development.
Commenting on this year’s award winners, Deloitte Partner, Josh Tanchel said: “The winning list in 2020 highlights that the COVID-crisis has continued to accelerate the disruption of traditional industries. The rise of businesses that have successfully harnessed technology is clear.”
InteliCare’s proprietary Internet of Things, or “IoT” platform uses smart sensors and AI to monitor elderly and disabled people living independently in their own homes, delivering a measurable positive impact on their lives as part of an overall health care service model.
The company’s two primary products are its basic InteliLiving package and the more advanced InteliCare Pro system which builds on the premise of the InteliLiving range.
The InteliCare product range delivers an automated, internet-based service for carers to identify problems and prioritise care actions, thereby reducing the risk of an emergency within a home or care facility.
Importantly, the company says its technology and hardware is far more robust than that of its competitors, with InteliCare’s products based on the installation of active sensors linked with AI as opposed to the CCTV-based offerings of its competitors.
With eleven active Agency agreements in major aged care across Australia, the company currently has around 350 systems installed in the field as it looks to grow sales of its technology to keep people living in their own homes as long as possible.
InteliCare’s strategic approach to revenue generation employs a dual model, making direct, up-front sales and via a subscription-based Software as a Service, or “SaaS” model.
In what must be a bit of a coup, InteliCare was recently selected for mega-tech company, Microsoft’s ScaleUp program which is a global initiative designed to fast-track sales scalability. This initiative provides a global pathway directly to Fortune 500 and ASX 200 companies, leveraging off Microsoft’s dedicated sales team.
With InteliCare locking down a world-wide technology and sales supporter in Microsoft, the company now looks to have a direct line of sight at what the company claims will be $225 billion home care market in the USA alone, as early as 2024.
Is your ASX listed company doing something interesting? Contact: matt.birney@businessnews.com.au
By Matt Birney
