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After years of seeking venture capital, smart watch crowdfunded in weeks

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After years of seeking venture capital, smart watch crowdfunded in weeks
July 27, 2012, By: Monika Wahi

Speaking in Boston at the World Congress Leadership Summit on Telemedicine at the Colonnade Hotel today, Eric Migicovsky, Founder and Lead Designer at Pebble Technology, described years of fruitlessly seeking enough investment capital to support the launch of his team’s invention, a customizable watch, only to be completely funded within weeks through crowdsourcing on Kickstarter.com. In fact, on the first day on Kickstarter, his team made five times their original goal of $100,000. The Pebble Watch is programmable, customizable, and integrates with iPhone and Android. This makes it possible to connect the watch with health apps designed to support patients with chronic diseases, such as diabetes.

Patients could program in alerts to take medication, as well as use sports and fitness apps to help them keep healthy and even lose weight. “Apps can be prescribed to patients,” explained David Barnes, Strategic Advisor at Happtique. His company has designed a proprietary method for mobile devices, such as the Pebble Watch, to transmit health care data securely. Happtique is also developing an app certification program “Blue Ribbon Panel” that would make sure health applications using mobile devices such as the Pebble Watch meet standards such as operating reliably, having valid health information, and safeguarding data. Does the Pebble Watch’s success on Kickstarter after its failure to obtain traditional investment says Candace Klein, Co-Chair of Crowdfund Intermediary Regulatory Advocates. Smaller projects of $25,000 to $50,000 that could easily be funded by crowdsourcing would be too small for venture capitalists to consider, she points out. In addition, if a larger effort can demonstrate that it can raise some portion of its funds from crowdsourcing, investors will be encouraged that the project has popular appeal.

Summary
The Pebble Watch is programmable, customizable, and integrates with iPhone and Android. This makes it possible to connect the watch with health apps designed to support patients with chronic diseases, such as diabetes. Patients could program in alerts to take medication, as well as use sports and fitness apps to help them keep healthy and even lose weight.

Description
Speaks in Boston at the World Congress Leadership Summit on Telemedicine at the Colonnade Hotel , Eric Migicovsky, Founder and Lead Designer at Pebble Technology, described years of fruitlessly seeking enough investment capital to support the launch of his team’s invention, a customizable watch, only to be completely funded within weeks through crowdsourcing on Kickstarter.com. In fact, on the first day on Kickstarter, his team made five times their original goal of $100,000.

Tags: Carmageddon, Crowdfunding, Crowdsource, Crowdsourced, Crowdsourcing, Kickstarter, pebble smartwatch

Posted by Adam Frazer

Jul 30, 2012 04:57 am GMT Viewed 1152 times

Author: Monika Wahi Source

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After years of seeking venture capital, smart watch crowdfunded in weeks

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