Table Colombia Challenge

• Spanish

long trips to specialized centers to obtain the accessories and batteries that allow the operation of the hearing aids. Expensive appointments, with large displacements and long waiting times to access an advice with a hearing professional. Long travel and attention time to get service from a specific brand.

Online store of accessories for hearing aids, hearing aid quotation and appointment making for assessments Online advice (whatsapp, zendesk, skype and networks) with a professional in audiology to answer questions before purchasing a product or service. Multi-brand service in one place to serve the largest possible population of hearing aids closer to your home

466 million people worldwide (5% of the world´s population) suffer from disabling hearing loss, of which 34 million are children It is estimated that in 2050, more than 900 million people - that is, one in 10 - will suffer a disabling hearing loss. 1100 million young people (between 12 and 35 years of age) are at risk of hearing loss due to their exposure to noise in recreational contexts.

Global hearing aid market to reach usd 12.1 billion by 2025

The statistic shows the forecasted value of the hearing aids market in Latin America in 2018 and 2023.

The 2018 market value was estimated at 1.05 million U.S. dollars and the source projected it would increase to 1.46 billion U.S. dollars by 2023.

Global hearing aid market is significantly driven by the rising aging population. For instance: according to the Population Reference Bureau, in United States people aged 65 years or above in 2016 were around 46 million which is projected to get double near approx. 98 million by 2060. However, the geriatric population rate will rise from 15 % to nearly around 24 % by 2060.

Retailers are the major distributors for hearing aids as they sell a high volume regularly and are likely to dominate the market in the coming years. With the growing demand for hearing aid across geographies, the hearing aid distribution system is witnessing a shift from specialized medical retail stores to multi-line retailers. The growing online retail is also becoming popular among end-users.

Digital hearing aids are gaining traction in the market due to the increased demand for invisible and aesthetically appealing hearing devices with the enhanced listening experience. Further, the rise in awareness of the availability of new treatment options for hearing loss is leading to the development and commercialization of digital and rechargeable hearing aids, which include Bluetooth, wireless connectivity, and iOS and Android compatibility.

Risks: online marketing of amplifiers that are not hearing aids at very low cost Dollar instability Political instability worldwide

GAES: multinational of Spanish origin with auditory stores worldwide, acquired a few months ago by the group Amplifon (Italy) expert in retail of hearing aids. Manage several brands. Great financial muscle, expert in marketing and sales strategy.

Aural: Auditory store franchise of the multinational Widex (Denmark). Mange 1 single brand. Financial muscle

Audiocom: National Company, with the largest network in the country of hearing centers. Handles 2 brands. Financial muscle. Online store

We have been recognized for being the first to have a multi-brand store unlike the majority, which offers online product purchase with shipments throughout the country, online professional advice, auditory prosthesis service for different brands and very present in social networks to give to know the solutions we offer to the end user. We have also had the opportunity to have B2B business with accessories for hearing aids

Online store of hearing products for shipping nationwide without leaving home, with the possibility of separating audiological services for the physical store and allied centers or obtain professional advice through the direct attention channels, telephone lines, network chats and site web, whatsapp or skype text messages.

Strategy: google, instagram and facebook ads. Activations at shopping center points Alliances with other small centers that do not have headphones sales. Develop franchise plan Online store for speech therapy professionals

Shareholder Susan Gomez 100% participation Speech therapist, Audiology Specialist, I worked as a clinical audiologist in Colombia and Ecuador, and as a Commercial Audiologist in Quito, Ecuador. Take a Diploma in Digital Entrepreneurship and E-commerce.

2020 Capital raising: USD 60,000. Sales USD 15,000 per month Milestone: Opening a branch store in Bogota. Milestone: Implementation Online store for lationamerica language therapists

2021 Sales USD 60,000 per month. Implementation of 2 franchises in Colombia.

2022 Capital Raising: USD 120.000. Sales USD 100,000 monthly. Shop implementation in Mexico and Ecuador

We describe ourselves as an experiential center of auditory well-being, where with a different concept, the patient does not sit in an office but in the living room of his house, where he can have coffee and talk about his hearing situation and find a solution. The person, being heard and understood, can more easily accept his condition and accept the help we have to offer him. A person with hearing loss and to whom a hearing aid is adapted and with whom he feels satisfied, improves his quality of life, is more attentive and coordinated, participates in family gatherings, his mood improves and therefore his health. If we as workers are happy, we live in harmony, so we will transmit good energy to each of the users that are served in the online store or in the physical store.