Mindful Tech
An Australian wellness company sought to diversify their revenue streams and business model by innovating into the space of consumer technology products.
Employing an ‘accelerator’ style model of venture-building, a small innovation team identified a sizeable consumer problem that was unfulfilled by existing solutions. A new wearable tech value proposition was created and validated across desirability, feasibility and viability dimensions within 4 months.
Status
$40M net revenue opportunity validated (3-year target)
Currently in proof-of-concept phase (functional prototyping)
Patent-pending technology
Technology partner engaged (Letter of Intent)