Biography of Amey Desai: Founder and CEO of Lifespark Technologies- Entrepreneur
Biography of Amey Desai:
Vision for Accessibility and Innovation
Amey Desai, the founder and CEO of Lifespark Technologies,
is on a mission to make mobility accessible for the elderly and individuals
with neurological disorders. His flagship product, WALK, aims to improve the
quality of life for those living with Parkinson’s Disease. Featured on Shark
Tank India, Desai’s entrepreneurial journey showcases his commitment to
innovation and the healthcare sector.
The Birth of Lifespark Technologies
Lifespark Technologies, founded in 2018, is based at the
Indian Institute of Technology – Bombay. The company is dedicated to developing
advanced solutions for healthcare, particularly for neurological disorders.
With a focus on wearable devices, Lifespark addresses motor symptoms that
challenge movement, such as bradykinesia (slow movement) and freezing of gait,
commonly experienced by individuals with Parkinson’s Disease.
A Personal Connection to Healthcare
Amey Desai’s interest in the medical field is deeply rooted
in his upbringing, as both his parents are doctors. This exposure sparked his
passion for healthcare innovation. After earning his Bachelor of Engineering
from the Birla Institute of Technology and Science, Pilani, Desai combined his
technical expertise with his personal mission to create Lifespark Technologies.
Biography of Amey Desai: Founder and CEO of Lifespark Technologies- Entrepreneur/age/net worth/investor/startup/Lifespark Technologies story
Addressing a Global Challenge
Parkinson’s Disease, a progressive neurological disorder,
affects millions worldwide. Through his research and development, Desai
identified a critical need for assistive devices that could enhance mobility
and independence for patients. WALK was conceptualized to address these
challenges by improving gait, balance, and mobility, reducing the risk of
falls.
How WALK Works
WALK is a wearable assistive device designed specifically
for individuals with Parkinson’s Disease. It uses advanced technology to target
motor symptoms, enabling smoother and safer movement. The device is accompanied
by a digital platform that provides users, caregivers, and medical
professionals with valuable data and insights to optimize therapy and outcomes.
A Successful Pilot Run
Before launching WALK on a larger scale, Lifespark conducted
a pilot program with 150 participants. The results were promising, with the
device achieving an 80% accuracy rate in improving mobility. These encouraging
findings validated Desai’s efforts and underscored the potential of WALK to
transform lives.
India’s First Parkinson’s Mobility Device
WALK stands out as India’s first mobility device
specifically designed for Parkinson’s Disease. Its unique approach integrates
cutting-edge technology with user-friendly design, setting it apart from
competitors. Desai’s innovative strategy ensures that Lifespark remains at the
forefront of assistive healthcare technology.
Pitching to the Sharks
Desai presented WALK on Shark Tank India Season 3, seeking
INR 50 Lakhs for 1.5% equity, valuing the company at INR 33.33 crores. His
pitch highlighted the challenges faced by individuals with Parkinson’s, the
device’s unique features, and its potential impact.
The Sharks’ Curiosity
The pitch sparked interest among the Sharks, leading to a
series of probing questions. Aman Gupta inquired about Desai’s motivation,
while Namita Thapar and Anupam Mittal discussed the competitive landscape and
business processes. Vineeta Singh explored future plans for expanding the
product line.
Negotiations and the Final Deal
After detailed discussions, Aman Gupta and Anupam Mittal
made a joint offer of INR 50 Lakhs for 2.3% equity, valuing the company at INR
21.74 crores. Desai accepted the deal, marking a significant milestone for
Lifespark Technologies and its mission to redefine mobility for individuals
with Parkinson’s Disease.
Recognition and Momentum
The appearance on Shark Tank India brought widespread
recognition to WALK and Lifespark Technologies. The innovative product gained
attention not only for its functionality but also for its potential to
revolutionize assistive healthcare in India and beyond.
The Journey Ahead
With the funding and mentorship from the Sharks, Desai and
his team plan to scale production, enhance the device’s features, and explore
new solutions for other neurological disorders. Lifespark Technologies aims to
solidify its position as a leader in medical devices, contributing to a future
where technology bridges gaps in healthcare.
Inspiring Innovation in Healthcare
Amey Desai’s story is a testament to the power of
purpose-driven innovation. By leveraging his technical expertise and personal
connection to healthcare, he has created a solution that brings hope and
mobility to countless individuals. WALK represents more than a product—it
embodies a commitment to making lives better, one step at a time.
A timeline for the story:
2018: Lifespark Technologies founded at IIT Bombay.
Pilot Program: Conducted with 150 participants; WALK
achieves 80% accuracy.
Shark Tank Pitch: Featured on Shark Tank India Season 3,
seeking INR 50 Lakhs for 1.5% equity.
Final Deal: Aman Gupta & Anupam Mittal invest INR 50
Lakhs for 2.3% equity.
2024: Scale production, enhance features, and address other
neurological disorders.
