In a world where innovation knows no bounds, one entrepreneur is pushing the limits of what’s possible by developing a smart contact lens that could revolutionize the way we perceive reality. This unorthodox visionary is not just creating a gadget but aiming to redefine our interaction with the world around us. Here’s a glimpse into how this groundbreaking technology could change our lives.
The Vision Behind the Lens
The entrepreneur, who prefers to remain under the radar, believes that the current wave of augmented reality (AR) and virtual reality (VR) technologies, while impressive, is just the beginning. His smart contact lens is designed to seamlessly integrate digital information into our physical world without the need for bulky headsets or glasses. This lens promises a more natural, unobtrusive way to experience AR, blending digital enhancements directly with our vision.
How It Works
The smart contact lens is equipped with a micro-LED display, sensors, and wireless connectivity. These components work together to project information directly onto the retina, allowing users to see digital overlays on their environment. Imagine walking down the street and having real-time navigation prompts appear in your field of vision, or attending a conference and seeing the names and details of the attendees float above their heads.
The lens is powered by a tiny, ultra-efficient battery that can last all day on a single charge. It is also designed to be comfortable and safe, using materials that are biocompatible and breathable.
Potential Applications
- Healthcare: Medical professionals could use the smart contact lens to access patient data and diagnostic information hands-free, enhancing the efficiency and accuracy of treatments.
- Education: Students could benefit from immersive learning experiences, where historical events or scientific concepts are visualized in 3D right in front of their eyes.
- Entertainment: Gamers could experience a new level of immersion with AR games that interact with the real world, while moviegoers could enjoy films with interactive elements.
- Work and Productivity: Professionals could use the lens for virtual meetings, accessing documents, and collaborating with colleagues without ever needing to look at a separate screen.
The Genesis of Xpanceo
“It’s a funny story. When I realized the future computer would be a smart contact lens, I knew I needed experts … so I reached out to [nanophotonics expert] Valentyn Volkov,” Axelrod tells The National.
He recalls how he convinced Volkov, a respected scientist, to collaborate on building the computer of the future. Together, they began working on prototypes and seeking investors, often facing skepticism but eventually securing the necessary funding.
The Smart Contact Lens Technology
Now the managing partner of Xpanceo, Axelrod aims to develop smart contact lenses reminiscent of the technology seen in the Iron Man films. These lenses promise an “infinite” extended reality view, where tasks from documents to meetings, social media, and gaming will be displayed directly in the user’s field of vision, visible only to the wearer. Powered by artificial intelligence and machine learning, the lenses will also feature night vision and can be controlled via voice, gestures, glances, and potentially, thoughts.
Since December, Xpanceo has made significant strides in refining the main components of its three prototypes. The lenses are classified as medical devices, necessitating thorough pre-clinical testing before human trials can commence. The final prototype is expected to enter its testing phase by 2026, with market launch dates and production volumes depending on test outcomes. Axelrod notes that Xpanceo is in discussions with several major companies, although he remains tight-lipped about the details.
Financial and Market Prospects
The cost of these revolutionary lenses is projected at $900 annually, which includes $50 per month for replacement lenses and $300 per year for a subscription service encompassing a companion device for charging and overnight storage. Axelrod is also considering potential partnerships with tech giants like Apple and Google, having had preliminary discussions with their representatives.
By 2026, Xpanceo aims to attract an early-adopter user base of 15,000, with ambitious targets of 500,000 by 2028, a million by 2029, and 10 million by 2032. The company has developed a system for testing smart contact lenses without human or animal testing, covering a comprehensive range of parameters beyond current market solutions.
Competition and Differentiation
The global smart contact lens market is forecasted to grow from $264.18 million in 2023 to $682.67 million by 2031, with a compound annual growth rate of 12.60%, according to Data Bridge Market Research. While smart contact lenses are not a new concept, market growth has been sluggish. Previous attempts by companies like Google, Samsung, and Sony faced various challenges, including accuracy issues and funding constraints. However, Switzerland-based Sensimed has made notable progress, having received approval to sell its smart contact lens for glaucoma treatment.
Axelrod emphasizes that Xpanceo’s approach is distinct, focusing on the latest technologies and novel materials, particularly in nanophotonics. This forward-thinking approach minimizes the risk of repeating past mistakes and opens multiple avenues for innovation, including healthcare technology and 2D materials development.
Funding and Future Vision
Funding is not currently a priority for Xpanceo, as the company secured $40 million in investment in 2023, marking the second-largest seed round in the Middle East and North Africa. The majority of these funds are allocated to research and development, supporting a team of over 50 engineers and scientists. Axelrod remains open to additional funding opportunities if they enhance the product further.
Axelrod’s dream is to merge people with technology, enhancing human functions and creating new capabilities. He envisions a future where humans can effortlessly control devices with their minds, learn instantaneously, exchange information seamlessly, and lead longer, healthier lives. Ultimately, he aims to contribute to humanity’s evolution into an interplanetary species, exploring fields like medical devices and neural interfaces.
Challenges and Considerations
While the potential of the smart contact lens is immense, there are several challenges to overcome. Ensuring user safety, especially concerning long-term use, is paramount. Privacy concerns also need to be addressed, as the lens could potentially record or transmit what the wearer sees. Additionally, developing a user-friendly interface that doesn’t overwhelm or distract the wearer is crucial for widespread adoption.
The Future of AR
The unorthodox entrepreneur’s smart contact lens represents a significant leap forward in AR technology. It embodies the spirit of innovation and the drive to push boundaries that define today’s tech landscape. As development progresses, this lens could become a staple in our daily lives, making the line between the digital and physical worlds blurrier than ever.
Roman Axelrod envisions a future where his groundbreaking technology transcends the boundaries of Earth. Despite initial skepticism from early investors and his eventual co-founder, Axelrod’s novel idea of miniaturizing a computer into a smart contact lens is now becoming a reality through the Dubai-based start-up Xpanceo.
Q&A with Roman Axelrod, Founder and Managing Partner of Xpanceo
Do you believe smart contact lenses will be sustainable?
Modern gadgets often have drawbacks that are harmful to people and the environment. Therefore, creating a truly convenient gadget was one of my main goals. I firmly believe that when the lens becomes available, it will make life easier. We’ll be able to communicate without extra screens, control devices with our thoughts, and significantly reduce eye strain. Consequently, I don’t think that once people experience something as convenient as this, they’ll want to revert to something that was outdated 10 years ago.
How is AI powering your devices?
AI plays a significant role in shaping the functionality of the end product and in our development processes. For development, we are utilizing new two-dimensional materials with unique properties that we are studying and tailoring to our needs. Our custom models for studying these materials drastically reduce the time spent searching for new solutions. In the final product, AI will facilitate device control through voice, gesture, gaze, and thoughts. For instance, we’ve already developed a model that helps interpret data from an intraocular pressure (IOP) sensor.
How does the UAE’s start-up scene compare to other global tech hubs?
Before establishing our laboratory, we conducted extensive research to determine the most suitable country to accommodate our international team. The UAE, particularly Dubai, stood out due to its flourishing market and convenient location between Europe and Asia. The government’s proactive approach to supporting technological advancements creates a business-friendly, dynamic, and entrepreneurial atmosphere.
What do you do in your free time?
I spend time with my family. I love engaging with my three-year-old son; it is the only activity that helps me unwind from work and take my mind off things. I also have a passion for hip-hop and video games.
What is your advice to budding entrepreneurs?
Focus on creating as much value for humanity as possible. If you find what is truly important to you, it will be much easier to create a detailed plan, attract investment, and move towards your goal, no matter how big your dream is.
In conclusion, the advent of the smart contact lens is a testament to human ingenuity and the relentless pursuit of progress. It offers a tantalizing glimpse into a future where our interaction with information and our surroundings is more integrated and intuitive. Keep an eye out (quite literally) for this groundbreaking innovation that promises to change the way we see and experience reality.
Roman Axelrod’s journey with Xpanceo exemplifies the spirit of innovation and ambition that drives today’s tech entrepreneurs. As Xpanceo continues to develop its smart contact lenses, the future of human interaction with technology looks promisingly advanced and infinitely more integrated.
