| [Table of Contents] | [page 2] |
| Volume 2, Issue 1 | Spring, 1998 |
VOCALEX IS RAMPING
UP
NCIC Capital Fund made its first investment in
Vocalex, Inc. in December 1996. We have since approved a second round of funding, bringing
our total
| support to
$875,000. The company has utilized this funding over the past two years to complete the
development and integration of speech lexicons and a graphical user interface for
SpeechMagic™ , a Philips Industries speech recognition product. The Vocalex products
are targeted for the healthcare and insurance industries. They are currently expandinl,
their installed base at various locations throughout the country. Vocalex has licensing agreement with Philips™ develop the context lexicons (language models) for certain healthcare applications including, Orthopedics and Emergency Medicine. They have also developed product that supports Automobile, Property and Casualty, Inland Marine, and Workers Compensation Insurance industries. According to Bob Richardson, Chief Operating Officer of Vocalex, during a recent presentation to the NCIC board of trustees, SpeechMagic™ is a product designed for corporate and professional use. SpeechMagic™ is not designed to compete with the IBM or Dragon products that are currently on the market, which target the personal use market. |
The combination of the Vocalex context interface and the product's ability process the dictated word without pause between words makes SpeechMagic™ high end, value added product. Unlike other voice recognition products the Vocalex interface also allows images to be directly downloaded into transcribed document via voice command. This is a "perk" in the system that is desirable both the healthcare and the insurance claims industries. Vocalex's products operate on either Windows NT 4.0 or Windows 95 platforms. SpeechMagic™ operates as a stand-alone workstation and is the only continuous speech recognition technology specifically designed for use in a multi-user NT 4.0 Novell network. |
| [Table of Contents] | [page 2] |