Proof of Usefulness Report

Careteq

Analysis completed on 2/4/2026

+31
Proof of Usefulness Score
You're In Business

The submission for 'Careteq' describes the 'Sofihub' assistive technology platform. External verification reveals that Careteq Limited (ASX:CTQ) divested (sold) the Sofihub business unit in July 2024 for ~$0.58 million to focus on medication management, rendering the submission's description outdated or inaccurate regarding ownership. Furthermore, the submission contains hyperbolic and demonstrably false claims, such as 'most people have used my product' and an audience reach of 'everyone' for a niche aged-care solution. While the parent company generates ~$7M revenue, its micro-cap status (~$2.6M) and the divestment of the described asset, combined with the low-quality and factually incorrect submission data, result in a very low score.

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Score Breakdown

Real World Utility+48.0
Audience Reach Impact+5.0
Technical Innovation+32.0
Evidence Of Traction+15.0
Market Timing Relevance+50.0
Functional Completeness+10.0
Subtotal+27.05
Usefulness Multiplierx1.15
Final Score+31

Project Details

Project URL
careteq.com.au
Description
Careteq Limited (ASX:CTQ) is an Australian-headquartered HealthTech company that has developed and commercialised a proprietary Assistive Living Technology platform. The company is now using its early-mover advantage in the Assistive Living Technology sector to revolutionise aged and disability care across the globe. Careteq’s revenues are derived from assistive passive technology products powered by SOFIHUB. The product suite on the Careteq Assistive Living Technology platform delivers better quality of life and productivity outcomes to a broad-based target addressable market, comprised of both patients (the elderly, disabled and vulnerable individuals), and their carers.

Algorithm Insights

Market Position
Growing utility with room for optimization
User Engagement
Documented reach suggests active user community
Technical Stack
Modern tech stack aligned with sponsor technologies

Recommendations to Increase Usefulness Score

Document User Growth

Provide specific metrics on user acquisition and retention rates

Showcase Revenue Model

Detail sustainable monetization strategy and current revenue streams

Expand Evidence Base

Include testimonials, case studies, and third-party validation

Technical Roadmap

Share development milestones and feature completion timeline