Investors: Press Release
GeckoSystems Receives RFQ From EU Firm to Do Elder Care Robot Trials
CONYERS, GA--(Marketwire - December 2, 2010) - GeckoSystems Intl. Corp. (PINKSHEETS: GOSY) announced today that they have received a formal Request For Quote (RFQ) from FLAGMAN GRUPP LTD., in Tallinn, Estonia, for twenty (20) life support social robots (i.e. CareBots(tm)), training and spare parts.
GeckoSystems is a dynamic leader in the emerging mobile robotics industry revolutionizing their development and usage with "Mobile Robot Solutions for Safety, Security and Service(tm)."
"We expect this order to be in the mid to low six figures with delivery mid to late next year. Their interest is due to our groundbreaking in home elder care robot trials. Since late last year GeckoSystems has been involved in the world's first in home elder care robot trials to learn more about the realities of providing families with more cost effective solutions to enable them to take better care of their elderly parents for less worry, money and time," observed Martin Spencer, President/CEO, GeckoSystems Intl. Corp.
The Managing Director of the Flagman Grupp Ltd., Vladimir Beljakov, comments:
"The Social Robot (SR), such as GeckoSystems' CareBot, urged to solve partially a global problem of availability and modernization social and health services, and also expansion of a circle of contacts of quickly growing old population, by application modern IT tehnologi (technology).
"The first product of our joint activity with the American company GeckoSystems Intl. Corp. will be the house mobile robot, replacing medical workers which serve older persons in-home.
"From official sources (http://epp.eurostat.ec.europa.eu/cache/ITY_OFFPUB/KS-SF-08-072/EN/KS-SF-08-072-EN.PDF) it is known that in the European Union already today lives about 20 million people (that) is more then 80 years old and by 2060th year of such inhabitants there can be more than 60 million persons. This category of the population of Europe is the basic of spend component on social and health services. On it billions Euro are spent. It, as a rule, individual work with each client of medical staff serving them. Very big shortage of medical workers, as it morally very much a tough job is thus observed. Therefore more often older persons place in houses for aged as many of them have no relatives who would look after them. And in the presence of relatives service of the elderly takes away huge time which as a rule doesn't suffice. Thus, placed in houses for aged, result -- they have strong stress, as they separate from habitual way of life and it becomes frequent the fatal factor.
"Our project urged to change this situation, as much as possible having robotized and having made comfortable this kind of social service for a numerous category of the population of Europe of advanced age.
"From above presented figures it is visible that if only 30 %-s' older persons are more senior 80 years to give our production, and this 6,6 million people -- that it will be necessary to make an order 7 million robots. Hospitals, which also have requirements for the future our production, here don't enter.
If to make even 20000 robots in a month, and it is a lot of, 30 years for their assemblage is required approximately, therefore it is necessary to start very large manufacture.
"Also the robotics is very perspective direction in car industry, security and other technics which will be urged to mechanize and automate completely not interesting, and sometimes dangerous work.
As the robot consists of several honeycombs of details from set of materials across all Finland can be placed various shops on manufacture of these details and kits which will be flown down on assembly manufacture, where there will be an assemblage, testing of kits, programming of robots and sending to their consumers.
"On manufacture will be involved, the trained experts of various directions: workers, experts of an average link, logistics, transport workers, IT experts, designers and many other experts. It is the real program on unemployment liquidation across all Finland. It is very big export potential as such robot on retail costs today in the USA 15000$. Thus it pays back itself less, than for one year.
"How the robot works:
"SR, being as much as possible simple in application will have set of functions which will give possibility without leaving the house (that sometimes is the biggest problem for the elderly person) to have following services: digital communication with doctor or the medical center on health diagnostics; vocal dialogue with friends with a choice of language of dialogue through the Internet (free of charge); a vocal calendar of reminders for day, week; the disturbing button for a safety communication; archive of the information and possibility of its reception in a vocal kind; security and ather functions; the order deferent services through the center of coordination of work of Social Robots (further CCW).
"Technological risks are minimum. Separately each function of the future product works for a long time and is successfully applied. On our product these functions will be united and adapted for the consumer. As a matter of fact at the initial stage the factory will carry out screw-driver assemblage of ready kits in the developed case with a running gear. Further the decision on the beginning or refusal of manufacture on the base of these kits will be accepted. Reduction in price or end product rise in price will be a decision making condition," concluded Beljakov.
Since Estonia is separated from Finland only by the Gulf of Finland, Mr. Beljakov is working with two government entities there, Tekes and TEM.
"Finland is one of the three most prosperous nations in the world. They have a well educated middle class and several decades experience in providing national healthcare. The US was the last of the top ten industrialized nations in the world to initiate national management of its healthcare system. Consequently, we are very pleased with their prudent focus on the continuing and growing elder care crisis as depicted by Beljakov in his preceding comments. We will be responding to his firm's unsolicited RFQ forthwith," opined Spencer.
"We have not solicited sales of our CareBots since the late '90's due to our purchaser vetting requirements and lack of working capital to finance the manufacture of them. Nonetheless we continue to receive inquiries from individuals, etc. despite our not officially having any CareBots for sale.
"GeckoSystems' increasing visibility in the European Union and the continuing positive reaction to our innovative mobile robot solutions and products allows GeckoSystems the opportunity to become established as a significant player in the EU. With this substantive RFQ we may have our first EU partner that we will be able to supply cost effective solutions for their eldercare crisis and to develop other products tailored for the EU marketplace and the rest of the world. We are pleased to announce our new proximity to enjoying revenues after our many years as a Developmental Stage Company, with the prospect of not only net profits, but also cash flow positive such that our nearly 1400 investors can enjoy the ROI they deserve."
Tekes is the main public funding organisation for research, development and innovation in Finland.
Tekes shares risks involved in development activities. With the financial support of Tekes, your company can implement the project on a larger scale, with more challenging targets and within a tighter time-frame.
Tekes can provide companies operating in Finland with funding for challenging projects involving development of products, services, production methods, business concepts or competence of organisations.
Tekes can finance projects in all areas of technology and business. The funding is targeted at projected development work and can cover part of a project's expenses.
Tekes helps companies to develop their business in the following areas:
Business model and strategy
Customers and markets
Products, services and production
Management and personnel
The Ministry of Employment and the Economy and Tekes have studied the exploitation of the European Union's Lead Market Initiative in the development of innovative products and services in Finland. The study reveals that Finland has good preconditions for creating lead markets and thereby strengthening its position as one of the world's most innovative economies.
The European Union's Lead Market Initiative (the LMI), "A Lead Market Initiative for Europe," aims to create an operating environment which fosters lead markets in a new way. The initiative strives to improve operating conditions for enterprises, by increasing demand for innovative solutions in a variety of ways.
The intention is to reform legislation in order to motivate enterprises to innovate. Another objective is to encourage the public sector to acquire a greater number of innovative solutions. In addition, the compatibility and marketing potential of new products and services are to be improved through standards.
The LMI covers six markets: electronic health care services (eHealth), bio-based products, recycling, sustainable construction, renewable resources and protective textiles. The study examined these from a national viewpoint and strived, on a broader basis, to identify sectors with the potential to develop into national lead markets. It also sought to draw up criteria, based on multiple perspectives, which would ease the assessment of such sectors, while analysing the measures required for promoting lead market sectors.
Prime candidates: electronic health care and welfare services, and wood-based biodiesel
According to the study, sectors can be found in all market areas that would qualify, from the Finnish perspective, as possible lead markets. These include electronic health care and welfare services for citizens, and wood-based biodiesel.
However, Finland cannot lead the way in all market sectors. Instead, national choices must be made. Market potential alone will not suffice as a basis for decision-making. Since public measures which promote and create markets are in question, selection is inextricably tied to the sector's strategic significance to society.
Lead markets involve significant economic and social potential. In order to exploit this potential, it is essential that we are able to recognise the most promising sectors. The creation of markets requires clear, ambitious goals, a decision on the sectors in which Finland intends to lead the way, and identification of the measures needed to achieve this. Moreover, determined implementation is called for, alongside close cooperation between administrative sectors and other actors.
Throughout Europe, solutions are being sought to growing social challenges. These include climate change, ageing of the population and energy issues. The focal point of the innovation union, under preparation by the Commission, is to tackle these challenges with the help of innovations. Decisions are necessary on the national level, too. This study therefore forms an outstanding basis for preparing practical proposals for the national promotion of lead markets.
The study is published in the Ministry of Employment and the Economy's publication series as publication number 54/2010. It is available from the Ministry's web service at: http://www.tem.fi/index.phtml?C=98033&s=2086&xmid=4431
Petri Lehto, Head of Division, Ministry of Employment and the Economy, tel. +358 10 606 3218
Jari Romanainen, Executive Director, Programmes, Tekes, tel. +358 10 605 5703
About the Finnish Ministry of Employment and the Economy (TEM):
The Ministry of Employment and the Economy (MEE) is responsible for the operating environment underpinning entrepreneurship and innovation activities, securing the functioning of the labour market and workers' employability, as well as for regional development within the global economy. The Ministry was established in 2008, from the former Ministry of Trade and Industry, the Ministry of Labour and the unit responsible for regional development within the Ministry of the Interior.