Enhancements for Walking Cane: Developed through DHDL's Agreement with Steets

Enhancements for Walking Cane: Developed through DHDL's Agreement with Steets - Overseen by Grandpa Heinz

In the heart of Germany, a startup named Steets is making strides towards becoming a household name, not just in the country, but internationally. The company, founded by Phil Janßen and his team, has developed a self-designed helper for walkers that is revolutionising mobility for the elderly and disabled.

The innovative product, which can be installed in under three minutes on any commercially available walker, was pitched by the founder trio on a popular TV show, The Lions' Round. The pitch was met with initial praise, but the mood later shifted as concerns about the company's financial projections were raised.

The idea for Steets was born in 2013 when Janßen recognised a common problem in everyday life: what to do when a walker falls and one cannot bend to lift it. This problem hit close to home for him, as his grandfather, Opa Heinz Schlechtingen, aged 99, was the prototype tester for the product. He uses the standing aid every day and, in a charming twist, is probably Steets' most popular salesperson.

Grandpa Heinz, who celebrated his birthday recently, had other priorities during practice, such as baking pancakes. He was, however, positive about the pitch when he first saw it. The founders, on the other hand, are unsure whether their grandfather fully understood the impact of the pitch.

The deal between Steets and potential investors is currently in negotiations, but details remain confidential. In a previous deal, the team asked for 300,000 Euro in exchange for 15% of the company. Notable investor Frank Thelen made a tough deal with the founders after the show, demanding 25% of the company for his investment. After intense negotiations and almost failing, the deal was finalised on Thelen's strict terms.

The self-developed support for walkers retails at 48.95 euros for end customers and 27.70 euros for rehabilitation clinics and healthcare facilities. The production cost for the support is 18 euros, with the potential to reach 12 euros with higher production.

Steets has received a medical device number, allowing it to be co-financed by statutory health insurance in the future. With a medical prescription and approval, the standing aid can be co-financed by statutory health insurance with a typical co-payment of 5 to 10 euros.

As Steets continues to grow, the team is already thinking about developing the next smart everyday helpers. With the next steps clearly set, it seems that Steets is poised to become a game-changer in the mobility industry.