Here is the background of the Wakemate staff, yes they are qualified to build a sleep aid device: http://en.wikipedia.org/wiki/WakeMate Craig has a PhD from HST, it doesn't get much more qualified than that.
PhD from HST in itself is just a credential and doesn't mean much beyond that. I'm sure you've seen the commercials for "doctor recommended back-pain relief products" that are being endorsed by dentists...