Periodic Reporting for period 1 - Atomic Bands (Next generation motion sensing bands for promotion of fitness and health tracking)
Période du rapport: 2019-06-01 au 2019-09-30
Funky Bots is a UK based company pioneering the development of next generation motion sensing bands with the vision to provide an affordable and easy to use smart fitness device in order to promote physical exercise and a healthy life. Atomic Bands by Funky Bots will revolutionize the smart fitness device and gesture recognition market. Atomic Bands are a cutting edge and interactive solution to exercise, to spark the interest of the next generation who are used to static gaming and constant exposure to screens. The team is now working towards optimizing the system to improve form training functionality, precision and battery life. The key objectives of the development are to optimize the hardware and software design and performance; to set up industrial production line; perform validation of the system at trial sites and to obtain CE mark certification.
Throughout the duration of the project, Funky Bots defined the users’ requirements for design implementation, reviewed the product development plan, defined the scale-up activities, and scouted for validation partners to support in the validation stages. The market segments and opportunities have also been evaluated, defining the TAM and SAM. Funky Bots established a commercialisation strategy. The Phase 1 feasibility assessment showed that a development plan for the Atomic Bands is technically and commercially viable, and that implementation of a commercialisation plan should be pursued. EIC Accelerator Pilot funding could provide the correct amount of funding and support to allow the stated activities to be implemented successfully.
The worldwide obesity rate has nearly tripled since 1975 to approximately 650 million people. Now more than one in two adults and one in six children are obese or overweight. By 2030 an estimated 38% of the world’s adult population will be overweight and another 20% will be obese. Based on the latest estimates in European Union countries, overweight affects 30-70% and obesity affects 10-30% of adults. Over 60% of children who are overweight before puberty will be overweight in early adulthood. Childhood obesity is strongly associated with risk factors for cardiovascular disease, type 2 diabetes, orthopaedic problems, mental disorders, underachievement in school and lower self-esteem. Funky Bots solution-Atomic Bands - an innovative, portable low-cost smart gaming band which promotes fitness anywhere at any time. Atomic Bands will enable simple and fun stimulated exercise thus targeting health problems such as obesity, high blood pressure and diabetes to tackle the growing need for an innovative solution to promote and encourage individuals to be active while ensuring a high return on investment on their time and cost.