Bodyviser Start-up Interview — Empowering People To Be Their Own Health Manager
How would you describe your business idea to a potential investor?
BODYVISER empowers people to be their own health manager. According to WHO stress is the biggest health threat of the 21st century. We provide an easy to use mobile solution that allows people to monitor their physiological and psychological stress levels and receive actionable recommendations.
Our coach and therapists network offers you the right stress experts to keep you motivated. With data analytics, we identify key parameters to assess individual stress tolerance over time including indicators that enable individuals to avoid chronic stress levels.
What problem do you want to solve, what is your goal?
WHO estimates that by 2020 every second sick leave will be related to stress. That means not only high costs for employers but in particular a very high burden for individuals. If not balanced out in time, acute stress turns into chronic stress and can ultimately result in a burnout.
This is associated with high health risks; examples include a twice as high risk for diabetes, high blood pressure, impaired memory capabilities, infertility and depression.
Our goals are:
- assess and monitor your current stress level based on physical and psychological parameters,
- raise awareness of health risks associated with stress and provide actionable recommendations how to avoid chronic stress,
- into stress management,
- provide a network of stress experts and a community.
How did you come up with your idea/concept?
We developed the idea/concept during our EMBA in Innovation and Business Creation at Technical University of Munich (TUM). The main goal was to combine the expertise of all three founders to develop an innovative digital solution in the health market with high relevance and impact for our society. Regarding the focus on stress management and prevention — all three of us have several years of intense work experience in the fields of health, IT, finance and entrepreneurship, and can identify ourselves with the matter.
What is your business model? Is your focus on single users as customers or do you aim at a B2B model with cooperations with big companies to improve the health of their employees?
Our main focus are individual users who are also our customers at the moment. In the first years, our main revenue streams are based on
- regular testing and analysis report and
- a commission fee for the usage of our communication platform for therapists and coaches.
We are currently in contact with corporations and health insurances that showed interest to test our solution within their networks. This is certainly a very interesting next step that could offer customers a financial support. Obviously, data security and privacy will be at the highest standards and at the discretion of the customers.
What does the single user have to do to get measured by BODYVISER and how often?
To start, all you need to do is to order the BODYVISER box and download our app. After receiving the BODYVISER box you just spit in a tube a few times during a day and send the samples via mail for lab analysis. In parallel you fill out a couple of questions in our app so that we can also assess your psychological stress level. With that we provide a stress assessment based on your physiological and psychological data once a month.
How will you then help the user to live a healthier life? What will he get from you? A plan for doing more exercises? An individual nutrition plan?
First, we provide a monthly stress assessment. With time, you learn what your personal optimal stress level is. Second, your monthly report contains also actionable recommendations on how to reduce stress. Several factors were proven to reduce stress, such as nutrition, fitness, social interaction or mindfulness training. In the beginning, we will include all of these techniques in your report.
Once you found out what helps you most to keep your stress in balance and what is most important to you, we will tailor your monthly report accordingly. Third, we can always connect you with a personal stress expert from our network who is specialized in a particular stress-relief area, such as sport or chronic muscle pain relief. In our network, we not only have coaches, but also like-minded companions with whom you can share your experiences.
Data about an individual’s health are very sensitive. How will you handle the concerns from your (potential) users that their companies or insurances will have insights about their health state?
We absolutely agree and this is our uttermost priority. Therefore, we will fully comply with the new Data Protection Regulation for Europe to ensure highest data privacy standards. Our standards will be on par with those of banks or other telemedicine applications. In addition, the user will decide what data she or he is willing to share with any other party.
Why did you decide to work with XPRENEURS?
XPRENEURS offers perfect support and community for startups. In the past months, we have built our prototype, started our pilot test and established our expert and partner network. Along all of these steps, support from XPRENEURS was crucial. This included 1:1 coaching sessions with advisors who have extensive startup experience, access to relevant industry experts, learning sessions with successful entrepreneurs, and not to forget an office space with the best view over Munich and the alps.
You want to become part of XPRENEURS incubator program as well? Get more information and apply at http://xpreneurs.io/