In 2010, Michael Becker was working at Baxter, an American multinational healthcare company specializing in the development of products to treat kidney disease, and other chronic and acute medical conditions. As therapies began to transition from in-hospital to at-home care, Michael noticed the increase in the loss and damage of expensive medical equipment. North American enterprises alone suffer a loss of $10B in portable medical equipment, approximately $2M per hospital every year.
“I lived this problem every day working for a global manufacturer,” said Michael. “It was clear that there was a gap in the market, so 10 years ago I made the tough decision to leave Baxter and began looking to create a solution to address this business problem.”
Knowing he needed to develop a technical solution, Michael enlisted the help of his friend Daniel Fischer, who had a background in electrical and computer engineering and had worked at blackberry for over 15 years. Together they founded Technology Trace – a startup focused on developing intelligent, simple, dependable, and trusted inventory management solutions for tracking high-valued portable medical equipment.
In 2016, Technology Trace became incorporated, and Michael and Daniel began developing their product, trevii – the world’s first boundless tracking IoT device that’s specifically validated, certified, and patented for use with medical equipment tracking. trevii allows healthcare enterprises to securely track, trace, and locate portable medical devices eliminating the financial waste that comes with equipment loss and replacement while saving staff countless hours searching – approximately 500 hours per clinical professional each year.
“Our product is an ai device that alerts users when it is lost through our cloud-based platform,” said Michael. “This data is completely confidential, and proprietary. Our software communicates exclusively with the owner of the hardware device, which is encrypted and secure. The owner can then request the location of the equipment through the online portal and receive coordinates to within two feet of the device.”
Since Technology Trace's inception in 2016, the team has grown from two people to five and is receiving serious interest from the US healthcare industry. Michael and Daniel have several patented items and remain 100% equity owners of the organization.
“None of this would be possible without our industry partners, the AC, and the Ontario and Canadian Government funding programs like IRAP, SR&ED, NGEN, OCI, and FEDEV,” said Michael. “Their support has allowed us to remain a Canadian entity and it is our goal to stay that way. We will continue to grow and to give back to Canada.”
Help us celebrate Technology Trace’s graduation from AC:Incubate on October 26th! We hope you can make it!