Collaboration is King for Innovative Wearable Technologies in B2C and B2B Markets

This impaired mass volume production. A clear understanding of your company’s target group, whether that be e.g. athletes, medical doctors or factory workers, is the basis for Wearable Technologies to become mass volume products. Wearables need to be developed with an ‘identity’ in mind which evolves from the needs, habits, preferred activities of users. Of course, Wearable Technologies need to solve an (at least perceived) problem of the user. Developing and applying Wearable Technologies in such a manner will unearth a unique set of unexpected data enriching the customers (and companies) with the information they previously have never had access to which is a fantastic starting point to enhance aspects of peoples life’s as well as for further business development.

No product development without collaboration.

Collaboration is a critical element in any product or service development process. Especially for Start Ups it is almost impossible to develop every technological detail of a Wearable on their own, and reliance on, and cooporations with educated consultants, SME and blue-chip corporations in different areas is king. For example, Start-Ups can rely on the expertise of chip manufacturers such as STMicro, or the electronic printing capabilities of VTT, and/or the material innovations developed by DuPont and/or Datwyler Sealing Solutions. All of them have extensive experience in the field of Wearables and enabled many Start-Ups to develop different Wearables already. Cooperating with such companies could also open doors for cross-industrial marketing of products. Often, technological innovations stemming out of the medical market can be positioned in the sports and/or the industrial safety market and vice versa. This creates completely new business channels for companies. However, well-guided strategies are essential not only to find the right collaboration partners which fit to your individual business but also marketing strategies need to be defined in reconciliation with the relevant target group and brand awareness needs to be created.

How to find the right Collaboration Partner?

If you want to learn more about the Value Chain of Wearables and who might be your potential collaboration partner, a visit to the conference and trade show series of the WT | Wearable Technologies Group, stopping respectively in Bangkok and Düsseldorf at the Medical Fair Asia and MEDICA, as well as in Munich, Melbourne, Singapore and San Francisco.

Additionally, the Innovation World Cup ^® which is the most established open innovation platform worldwide is a great opportunity for Start-Ups to create brand awareness and to win prices to propel business growth. Participation is free-of-charge. For more information, go to https://www. innovationworldcup.com/