PSYONIC is Redefining Human with the Ability Hand
The Ability Hand by PSYONIC was the winner of the “Product of the Year” at the 2020 Fourth Revolution Awards. You can find a recap of the event here.
When
Aadeel Akhtar, PSYONIC CEO & Founder, was visiting Pakistan at age 7 he realized the accessibility issue that people with limb differences faced worldwide. Since then, it has been his mission to make a product that redefines what it means to be human for those with limb differences. PSYONIC was born at the University of Illinois at Urbana-Champaign and has been growing since, with no chance of stopping any time soon. We recently sat down with Aadeel to learn a bit more about the value proposition of
PSYONIC, why the Midwest has shaped the company, and what’s next.
We were rapidly prototyping our electronics because Shenzhen was the electronics capital of the world and that's where we found our motor manufacturers and our gear manufacturers. Everything else we make in the USA, and so it's the only bionic hand that's assembled and made in the USA and designed here as well. Back then, we were a team of five people and now we've grown to about 20 employees.
The mission of PSYONIC is to make the Ability Hand accessible to everyone. If you or someone you know could benefit from an Ability Hand, PSYONIC wants to know. You can reach them
here.
Where did your idea and value proposition start?
How has your business grown since the beginning?
How has being in Illinois, or even being in the Midwest, helped shape your company?
The other thing is that one of the reasons why we're able to hit price points that Medicare will cover is because we have much lower costs of producing our hands. Part of that is also being in the Midwest region where the cost of living is lower. It's not as exorbitant as somewhere like the Bay area.
What growth do you expect to see in the next few years?