VSP Vision and MATTER announce winners of inaugural innovation challenge and $20,000 in prizes
August 20, 2024, CHICAGO, IL, and RANCHO CORDOVA, CA – MATTER, the premier healthcare incubator and innovation hub, and VSP Vision™, the leader in delivering access to health-focused vision care, proudly announce RevitalVision as the winner of the first ever VSP Vision Innovation Challenge. RevitalVision takes home the $10,000 Grand Prize for their non-invasive algorithm-based technology that targets the brain’s visual cortex to enhance eyesight neurologically.
Co-hosted by MATTER and the VSP® Vision Global Innovation Center, the Innovation Challenge is a global competition to source, spur and support solutions elevating the patient and provider experiences in eye care.
Earlier this summer, five startups were selected to participate in a four-week bootcamp during which they received expert mentorship and exclusive resources to further build their solutions and refine their value proposition. The bootcamp culminated in the Innovation Showcase, where the finalists pitched their innovations to an audience of healthcare experts and judges with the hopes of winning one of three cash prizes — a $10,000 Grand Prize, and two $5,000 prizes for Runner-Up and Audience’s Choice.
“Congratulations to RevitalVision on winning the VSP Vision Innovation Challenge. The judges were thoroughly impressed with your technology, and we cannot wait to see how the industry embraces this impactful vision care solution,” said Senior Director of the VSP Vision Global Innovation Center, Ruth Yomtoubian. “As VSP Vision embarks on nearly 70 years of health-focused vision care, we are committed to staying at the forefront of the new and cutting-edge technologies that will improve vision care for our clients, members, and network doctors.”
RevitalVision was selected by a panel of judges who assessed each startup’s technological solution to improve vision care in five key categories: alignment and focus, novelty and originality, business model, company traction, and team readiness.
“We knew that we needed to work hard to access the vision care market and we knew that we needed a big player to help us get there. VSP is the ultimate player because they have relationships with both providers and patients,” said Chief Executive Officer at RevitalVision, Yair Yahav. “For us, it’s a dream come true. My hope is that we’ll be able to enter the VSP network to better gain access to the market.”
Winners & Finalists
Winner of the Inaugural VSP Vision Innovation Challenge and recipient of the $10,000 Grand Prize
RevitalVision — Modi’in-Maccabim-Re’ut, Israel:
RevitalVision is a SaaS-based, digital health startup offering a unique solution to millions of people whose needs are unmet by existing vision treatments. Their non-invasive technology enhances eyesight neurologically. RevitalVision offers eye care specialists a simple, easy-to-use tool to improve patients’ vision beyond current eye treatments, by targeting the brain’s visual cortex. RevitalVision is the only FDA-cleared product with efficacy claims to improve vision in adults with amblyopia (ages nine and over). RevitalVision utilizes brain science and proprietary algorithm-based technology, is clinically validated in multiple eye diseases and vision impairments, and has been approved for two new CPT codes by the AMA for the treatment of amblyopia.
Second-Place Award and recipient of $5,000 prize
Machine MD — Bern, Switzerland:
MachineMD is an innovative medical device company that uses the eyes as a window to the brain, working at the intersection of neuroscience, ophthalmology and optometry. The company’s flagship product is neos™ - the world’s first neurophthalmoscope, which performs an automated examination of ocular motility, binocular vision, pupillary function and visual fields. Their team believes that systematic, objective, quantitative eye exams will increase provider efficiency, reduce clinical error and improve people’s quality of life.
Audience’s Choice Award, and recipient of $5,000 prize
Lens2Recycle — Burlington, California:
Lens2Recycle is a smart, eco-friendly recycling appliance designed to meet the sustainability needs of contact lens wearers. Lens2Recycle eliminates the environmental impact of forever-plastics from soft contact lenses and blister pack packaging.
Other Finalists
Ophthalytics — Marietta, Georgia:
Ophthalytics is a revolutionary AI-based diagnostic platform for eye diseases that is currently undergoing FDA clearance. Ophthalytics offers multiple services that autonomously detect highly complex eye-related diseases, including vision-threatening diseases like Diabetic Retinopathy.
Vision Science Labs — Los Angeles, California:
Vision Science Labs (VSL) is revolutionizing eye care with its AI-guided online platform. Their innovative vision testing and therapy methods allow patients to receive high-quality eye care at home, requiring minimal to no hardware. By making eye care more convenient and accessible, VSL is improving patient outcomes and transforming the industry.
About MATTER
At MATTER, we believe collaboration is the best way to improve healthcare. The MATTER collaborative includes more than 1,000 current and alumni startups from around the world, working together with dozens of hospitals and health systems, universities and industry-leading companies to build the future of healthcare. Together we are accelerating innovation, advancing care and improving lives. For more information, visit matter.health and follow @MATTERhealth.
About VSP Vision™
At VSP Vision™, our purpose is to empower human potential through sight. As the first national not-for-profit vision benefits company, this is what drives everything we do. For nearly 70 years, VSP has been the leader in health-focused vision care. Every day, the people that power our complementary businesses—VSP® Vision Care, Marchon Eyewear, Inc., Visionworks®, Eyefinity®, Eyeconic, VSP® Optics and VSP® Ventures—work together to create a world where everyone can bring their best vision to life. That means providing affordable access to eye care and eyewear for more than 85 million members through a network of more than 41,000 doctors. It also means expanding access to vision care to those disadvantaged by income, distance, or disaster through VSP Vision™ Eyes of Hope®. To date, more than 3.8 million people in need have received access to no-cost eye care and eyewear through one of our Eyes of Hope programs. Learn more about how we’re reinvesting in greater vision, health, and opportunities for all at vspvision.com.