Spotlight Interview Series is where you can find success stories from companies that 3xPGlobal proudly supports. SiosLife has the spotlight in the 2nd episode. Welcome Jorge Oliveira (JO), SiosLife CEO. Sioslife's mission is to contribute to seniors all senior’s social and digital inclusion. So Sioslife created the simplest, most interactive, and quickest technology solutions for seniors to access multi-screen communication, care, and entertainment. But let us know them better through Jorge’s words.
3xP: Can you share a brief overview of how SiosLife was founded and the inspiration behind its establishment?
JO: Inspiration for SiosLife came from an academic setting when I was studying with Fábio Macedo, SiosLife founders. The idea took shape during an entrepreneurship competition, and after formalizing the company, we spent the next few years implementing our solutions on the ground. In 2014, SiosLife was born to integrate the senior population into the evolution of new technologies and address the social isolation often faced by this demographic. Currently, SiosLife has expanded its reach to approximately 500 institutions and is supported by a team of around 20 collaborators. The company's focus remains on leveraging new technologies to improve the well-being and autonomy of the elderly population.
3xP: Could you provide an overview of SiosLife's products/services? How do they address the needs of your target market?
JO: SiosLife is a trailblazer in revolutionizing elderly care through a seamless digital transition. With comprehensive solutions spanning Digital Inclusion, Remote Care, Digital Health, and Care Digitalization, SiosLife's approach centers on a 360-degree transformation. It prioritizes individuality, aiming to make the elderly feel included, valued, and happy in society.
The pandemic has spotlighted the vital role SiosLife plays, providing tools to support caregivers and navigating challenges with innovation and compassion. We deeply understand our target and the market it evolves elder people, so we offer a harmonious blend of cutting-edge solutions and heartfelt care, shaping a future where the elderly not only receive care but thrive.
The primary focus is on international markets, with plans for consolidation in Portugal, proactive growth in Europe, and potential expansion into the USA and Canada. By 2023 and 2024, SiosLife aims to be present in Portugal, Spain, and the UK, with subsequent growth across Europe. - JO
3xP: What role does innovation play in SiosLife's strategy? How does SiosLife stay ahead in terms of technology and product development?
JO: Innovation is central to SiosLife's strategy, driving its position as a dominant player in Portugal's senior care tech ecosystems, positioned for positive transformation and consolidation. SiosLife stays ahead through a deep understanding of seniors' needs. The product roadmap is refined with feedback from seniors and caregivers, ensuring continuous improvement.
Functioning as a digital care management and healthcare hub, SiosLife innovation promotes order, interoperability, and data sharing. Its hardware-agnostic, cloud-based architecture allows rapid scalability. SiosLife empowers autonomy through technology, enabling older individuals to embrace innovation independently. Collected analytics play a vital role in value-based senior care and healthcare environments, contributing to informed decision-making.
SiosLife's leadership is marked by a commitment to innovation, customer feedback, strategic partnerships, and a holistic understanding of the senior care landscape.
3xP: In a rapidly advancing technological landscape, how is SiosLife leveraging emerging technologies such as AI, IoT, or blockchain to enhance its products or services?
JO: SiosLife envisions a future where care is personalized, predictive, and aligned with individual physical, psychological, and lifestyle profiles. SiosLife is exploring the potential of AI and machine learning to adapt and personalize its system to individual users based on their usage patterns. This adaptability aligns with the broader vision of predictive and personalized care.
We believe in an inclusive and participatory nature of future care, with technology as a crucial ally in fostering usability and digital literacy. Embracing a decentralized approach to care, particularly in aging in place, SiosLife sees technology as a transformative force in connecting individuals with service providers.
3xP: In a dynamic business environment, how does SiosLife stay adaptive and learn from both successes and setbacks? Can you share some of the major challenges that SiosLife has encountered, and how the company overcame them?
JO: SiosLife has showcased adaptability and resilience, notably during the pandemic. Facing the social sector's shift to remote operations and financial constraints, SiosLife positioned its solutions as an investment, enhancing caregiving processes, ensuring visibility, meeting legal requirements, and supporting informal caregivers. Challenges, intensified by the pandemic's disruption, led SiosLife to collaborate closely with social institutions, acknowledging financial constraints. The company addressed this by crafting business models with narrow margins, recognizing limited resources. This commitment underscores SiosLife's dedication to the social sector, actively engaging with clients, emphasizing value propositions, and adapting business models to improve the caregiving process.
3xP: How has the investment and support from 3xP Global helped your company progress and reach new milestones?
JO: The investment and support from 3xP Global have played a pivotal role in propelling our company forward and achieving new milestones. As a strategic partner, 3xP Global has pushed us to think outside the box. One of the key strengths of our partnership with 3xP Global lies in their proactive and hands-on approach.
3xP Global support goes beyond financial backing, extending to strategic guidance and problem-solving. This collaborative and dynamic partnership has created a conducive environment for progress and innovation.
3xP: And, now focusing on the future, what are the strategic goals and aspirations for SiosLife in the short and long term? Do you have new products on the way?
JO: SiosLife is charting a course for elevated success by reinforcing product and service quality, introducing new value propositions, and expanding its audience impact. The primary focus is on international markets, with plans for consolidation in Portugal, proactive growth in Europe, and potential expansion into the USA and Canada. By 2023 and 2024, SiosLife aims to be present in Portugal, Spain, and the UK, with subsequent growth across Europe. With a commitment to sustainable business growth, SiosLife envisions doubling annual sales until 2027. The ultimate goal is to be recognized as a comprehensive solution for digital care and health—a single-stop shop. This transformation includes becoming the ideal technological partner for the digitalization of the entire care process, with a focus on the elderly, formal and informal caregivers, and all service providers, including healthcare.
Thank you, Jorge, for sharing SiosLife's mission and inspiring journey. Your journey is a vivid example of the dynamic synergy between strategic business decisions and innovation. We eagerly await the unfolding chapters of your sustained success. For more inspiring stories and updates on how 3xP Global is supporting startups like SiosLife, follow us on LinkedIn and explore our website.