(March 2010)
The Brain-Training Industry; A New Precious Gem to Mine?
Forget Diamonds, the Internet and iPads – There’s gold in them synapses!
After a year when most companies are claiming huge losses and downsizing staff, the brain-training industry seems to be bucking the recession trend. In fact, according to market-research firm SharpBrains, sales of “neurobics” (workouts for the brain) are estimated to jump from $265 million to $5 billion by the year 2015. Here are three indications that the brain-training industry is bucking the current recession.
Online games to develop cognitive fitness
HAPPYneuron (www.happy-neuron.com) uses scientifically developed games to stimulate attention, language, planning, memory and abstract-thinking skills. In February 2009, the company partnered with Humana Inc., one of the country’s largest private health insurance companies, to provide online games for Humana’s Games for Health Web site.
“We know that a healthier lifestyle doesn’t have to be boring and these games are a perfect way for consumers to connect health with a technology they already enjoy,” said Paul Puopolo, director of consumer innovation at Humana. “We also know that baby boomers are looking for ways to keep their minds young, so games like Split Words and Entangled Objects help with cognitive functions and attention skills – exercises that so many adults need.”
Other partners include SCAN Health Plan, vibrantBrains and Memory Training Centers of America.
One-On-One Training to Help Kids and Teens Strengthen Learning Skills
Although LearningRx’s (www.LearningRx.com) focus is on in-person brain training, the company’s growth seems to mirror that of the brain-fitness software industry, which grew from $100 million in estimated annual revenue in 2005 to $265 million in 2008. (SOURCE: SharpBrains.com) But unlike many companies selling video games and products targeted to Baby Boomers’ age-related cognitive decline, LearningRx is primarily focused on helping children and teens become faster and more effective learners using intense one-on-one brain training. And the changes are profound. In fact, the results of an independent research study funded by the National Science Foundation were recently presented to Congress touting the benefits of LearningRx’s programs – and the profound effects they could have on the country’s educational system.
“Once scientists pointed out that the brain could actually change, the brain-training industry just took off,” said Dr. Ken Gibson, LearningRx’s founder. “But people want products and services that provide life-changing results, not just a pocket video game. Brain training treats the root cause of learning struggles like AD/HD and dyslexia, so we’re fixing the problem where tutoring just offers parents a band-aid. For kids that are already good learners, it can strengthen their brain skills to make them great learners.”
The Colorado-based company is also working with students suffering from a traumatic brain injury (TBI) – including children, teens, soldiers and other adults. “Our recent work with those struggling from a traumatic brain injury has produced significant gains in memory and attention,” said Tanya Mitchell, Vice President of Research and Development for LearningRx. “We certainly see this as a future market.”
LearningRx was named the No. 1 Child Enrichment Franchise for 2009 and 2010 by Entrepreneur magazine and among Entrepreneur’s “Top 500 Franchises.” The company has also been included among the fastest growing franchise systems by Franchise Times and has been among the “Top 100 Franchisers” for the last two years according toFranchise Market Magazine. LearningRx has 69 centers in the U.S. and plans to open many more throughout 2010.
Brain-Training Software for Athletes
Founded in 2003, Applied Cognitive Engineering has seen a great response from its basketball and hockey IntelliGym™ (www.intelligym.com) software training systems. Designed to improve “game-intelligence skills” like real-time decision-making, decreased turnovers and increased assists and steals, IntelliGym™ offers a high school, college/pro, and personal package.
The basketball edition has been used by leading Division 1 teams, including Kentucky, Florida and Memphis. According to the company, “research has shown improvement of 20 percent to 40 percent in actual on-court performance stats.”
The Future of Brain-Training
It’s likely that with the advances in both computer technology and neurological technology (such as the increased use of functional magnetic resonance imaging), the variety of brain-training products and services will go up, while the costs will go down. For now, the trick is to focus on effectiveness. Ask for testimonials and referrals before spending your money on anything – sort of a no-brainer.
