Crowdfunding as competitive advantage for start-ups to compete with giants in the wearable fitness device space.

1. Wearable
Fitness
Devices
&
Community-­‐based
innova8on
case
study

2. Wearable
Fitness
Devices
! $
330
M
USD
sales
in
2013
! Fitbit
(68%),
Jawbone
(19%)
&
Nike
(10%)
account
for
97%
market
share
! Plethora
of
startups
make
up
the
remaining
3%
! Market
to
double
its
size
in
2014
! Strategic
market
for
“internet
of
things”
applied
to
health
&
fitness

3. Fitbit

4. Fitbit

5. Nike
+
Fuel
Band

6. Nike
+
Fuel
Band

7. Nike
+
Fuel
Band

8. Jawbone
UP

9. Jawbone
UP

10. Jawbone
UP

11. BodyMedia

12. BodyMedia

13. Massive
Health
–
The
Eatery

14. Atlas
Wearables

15. Atlas
Wearables

16. Atlas
Wearables

17. Kiwi

18. Kiwi

19. Kiwi

20. Nymi

21. Nymi

22. Nymi

23. Wello
Heart
Rate,
Blood
Pressure,
ECG,
Blood
Oxygen,
Temperature,
Spirometry

24. Amiigo

25. Amiigo

26. Amiigo

27. Amiigo

28. Amiigo

29. Amiigo
16
months
later
! First
deliveries
for
backers
started
last
May
acer
an
8
month
delay,
two
missed
deadlines
and
a
crashed
holiday
season
! At
current
pace
of
manufacturing,
deliveries
will
catch
up
with
backers
backlog
by
end
of
summer
! Ini8al
backers
and
beta
testers
experience
underwhelming
vs.
promise

30. Amiigo
How
would
a
tradi8onal
company
have
fared?
It
would
have
gone
under

31. Amiigo
How
is
Amiigo
faring?
! Got
strategic
investment
and
manufacturing
/logis8cs
capabili8es
from
FLEXTRONICS
! Has
substan8al
wai8ng
list
orders
backlog
! Is
constantly
making
their
socware
app
bejer
and
bejer
! No
“tradi8onal
marke8ng”
expenses
! Can
compete
in
a
biz
arena
with
Giants

32. Amiigo
Why?
Community-­‐based
strategy
and
innova8on

33. Amiigo

34. Amiigo

35. Amiigo

36. Amiigo

37. Amiigo
! Backers
not
Customers
! Co-­‐crea8on
and
ownership
! Ac8ve
par8cipa8on,
feedback
and
dialogue
! Wisdom
of
the
Crowd
! Community
! Promise:
“build
–
together
–
the
most
personalized
wearable
technology
available
enabling
users
to
track
their
favorite
ac8vity”

38. Example
of
community-­‐
based
strategy
&
innova8on
in
fashion

39. GUSTIN
meanswear

40. GUSTIN
menswear

41. GUSTIN
menswear

42. Lessons
for
Community
based
innova8on
&
strategy
! Conceive
a
product
that
is
poten8ally
disrup8ve
! Engage
our
audience
by
storytelling
your
value
proposi8on
! Make
your
audience
an
integral
part
of
your
product/
concept.
! Use
their
wisdom/$/energy/know-­‐how
to
bring
your
concept
to
first
stage
frui8on.
! Be
upfront
and
proac8ve
in
a
two-­‐way
open
conversa8on
! Mone8ze
o
your
base
(followers)
with
third
par8es
(investors)

43. Lessons
for
Community
based
innova8on
&
strategy
! We
are
living
through
the
second
industrial
revolu8on.
The
informa8on
revolu8on.
! Fragmenta8on
of
our
society.
Create
context
through
social
media.
Time
&
Ajen8on
are
commodi8es.
! Word
of
mouth
at
scale.
Produce
content
that
is
shareable.
! Every
company
is
a
media
company.
You
are
a
media
company.
! Blockbuster
didn't’t
buy
Neolix
for
40M
10
years
ago
“based
on
data”.

44. In
a
nutshell,
don’t
do
like
these
guys

45. Simply
because…

46. Thank
you
www.ivogrossi.com
ivo@ivogrossi.com