Published date: 15 March 2023
Awarded contract - This means that the contract has been awarded to a supplier.
Contract summary
Industry
Business and management consultancy and related services - 79400000
Location of contract
North East
Value of contract
£30,000
Procurement reference
NCL001-DN648470-64858798
Published date
15 March 2023
Closing date
9 January 2023
Closing time
12pm
Contract start date
13 February 2023
Contract end date
31 May 2023
Contract type
Service contract
Procedure type
Restricted procedure
A two-stage procedure, where the first stage is used to select suppliers, who are then invited to bid in the second stage.
Contract is suitable for SMEs?
Yes
Contract is suitable for VCSEs?
No
Description
Neuroscience has revealed the importance of brainwaves for healthy and pathological brain function. Manipulating brainwaves can affect mood, memory, attention and sleep, with therapeutic benefits in conditions ranging from ADHD to anxiety to Alzheimer's, but current neuromodulation techniques are limited.
Through research led by Newcastle University, we have demonstrated how 'closed-loop' neurostimulation (whereby brain signals control brain stimulation in a real-time feedback loop) can boost or suppress brainwave oscillations at different frequencies). Neudio combines closed-loop algorithms with non-invasive technologies (surface EEG recordings and musical stimulation) to regulate brainwaves. Effectively, our technology establishes a resonance between brain activity and music that enhances or suppresses brainwaves at specific frequencies.
The initial brief of the executive will be to:
Phase 1 - Write an ambitious business plan in line with ambitions and market opportunities
Phase 2 - Obtain IP Spin Out Committee Approval
Phase 3 - Complete spin-out legal process and act as company representative in legal formation of the company
Phase 4 - Prepare investment pitch deck and due diligence documents
Phase 5 - Initial negotiations to secure angel, seed or capital funding
Stage (5) will produce the funds by which the new start-up company can consider employing the executive going forward
Award information
Awarded date
3 February 2023
Contract start date
13 February 2023
Contract end date
31 March 2023
Total value of contract
£30,000
This contract was awarded to 1 supplier.
Dr Joern Rickert Consulting
Address
Cipreses 1410 Casa 13
Fracc. Barrio Real
San Andres Cholula, Puebla
Mexico 72814Reference
None
Supplier is SME?
Yes
Supplier is VCSE?
No
About the buyer
Address
3rd Floor Northumberland House
Princess Square
Newcastle Upon Tyne
NE1 8ER
England
Website
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Closing: 9 January 2023, 12pm
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