|01/26/2016 - 13:04||aida.boukhris|
Problem and Relevance
Nowadays in the world of wearable technology, a lot of products are devised tackling a specific issue e.g. Fitbit. Often these technologies come packed with sensors from which the wearer might only require a few to achieve the wished functionality. Although the products have a lot of functionalities, such as the Apple Watch, you will still need to wait before the application (app), with the wished functionalities, becomes available on the market.
As there is a growing market in Smart Wearables, a market which is to be expected by 2017 to be a 15 bn $ industry with 170 mln devices sold, we think that we can provide a solution for people, who think that the current wearable devices do not serve their needs.
We designed a modular bracelet system which allows the user to buy and add additional components containing sensors and actuators to fit the wearer’s exact needs. This makes our product highly adaptable and overall applicable. We will deliver in addition to the necessary hardware a drag-and-drop app, which allows the user to make simple applications for the sensors attached to his/her bracelet without having an extensive knowledge on programming. It is a sustainable product, because to the modularity of the bracelet, you can replace a sensor without changing the whole bracelet.
The wearable market is a highly crowded market in terms of competitors. A lot of lifestyle products are on the market such as Jawbone, Fitbit and the Apple Watch. There are also a lot of wearables for the Healthcare industry such as Empatica. Furthermore you have products such as Pebble, who provide a relatively high functionality, but also for a higher price. Although the market is crowded, there are currently not a lot of products on the market that provide an end-product, which is modular, easily customizable with limited programming knowledge, and has a relatively low price. We think that we can provide a product for that niche-market (the tinkerers).
- Thiemo Wolf, 23 years old and from Germany. Studies MSc. Embedded Systems and is passionate about hardware, which is illustrated by the fact that he build his own Chocolate 3D printer together with among others Mike Kriele.
- Lukas Tajak, 27 years old and from Germany. Studies MSc. Business Information Systems and ended up on the 3rd place in a Bavarian Startup Competition. Furthermore he worked 3 years as a Software Developer at Siemens.
- Chris Sproates, 23 years old and from the Netherlands. Studies MSc. Industrial Engineering and Management, for which he follows two specializations, namely Production and Logistics and Financial Engineering. He obtained skills in a.o. Lean Six Sigma, was an intern at Thales Electronic Systems GmbH, and furthermore works as a fund raiser for Twente Academy.
- Mike Kriele, 23 years old and from the Netherlands. Studies two MSc. Programs, namely Telecommunication Engineering and Computer Science. Besides having done a lot of Student Assistance functions at his University, he is also in the board of the Studenten Net Twente and was a finalist in the NRG Battle of Energy Academy Europe.
- Shirley Elands, 25 years old and from the Netherlands. Recent Graduate of a MSc. in Entrepreneurship and has already worked for a year as a marketer @ Pernod Ricards. She also obtained a scholarship of the Nyenrode Business University.
Link to file: Click Here