Nowadays, we are increasingly forgetting how important physical activity is in our lives. It improves our health and also introduces us to a better mood. However, in the multitude of duties, we often push it to the background. What if we had something that would strongly motivate us to exercise and give us the opportunity to compete online with other people and win crypto during those exercises? Here we would like to introduce you to Bownce – a unique fitness-lifestyle brand.
In short:
What is Bownce?
Bownce is a completely new and unique fitness-lifestyle brand. They are focusing on developing the right sports equipment for anyone, to enable a healthier lifestyle for everyone across the world.
They are preparing the launch of their first Bownce IoT device, which they presented in Dubai at the AIBC conference. Bownce is filled with micro technology that enables users to track the performance, such as hits, hit power and hitting precision. A bluetooth connector is linked to their newly developed smartphone app.
Their aim is to create an environment where users from different ages and different places can all gather in the bownce community, within their app, train and challenge each other. Working out and fitness activities do not run in everyone’s veins, they have created a rewards system for bowncing to motivate every user to continuously work on themselves by bowncing.
Their headquarter is based in Berlin, Germany, but they also have an office in Konstanz in the south of Germany. They have an office in Zürich in Switzerland and plan to open an office in Dubai as well. As they are still in the very early stages of a startup, they have 7 full time employees, but they are looking to expand the team in Berlin.
Bownce is a startup that was founded in 2019. Now they are setting up the production and preparing the market entrance for Q2 2022.
Everything for health and fun
The bownce team really believes in creating a space, where everyone and anyone can be active, have a healthy lifestyle and have fun whilst working out. They are all working towards the same goal and have the ambition to develop a brand with different products on a global scale.
All Bownce products will enable a healthier, more active lifestyle for anyone who is a user, through challenges within the bownce community. People are motivated through different factors, therefore their solution is to create different reward systems for bowncing and being active.
Not only can users be rewarded by winning challenges and being top of their own group, but they have also created monetary rewards systems, which users can then either donate to charity or use as means of payment on different platforms.
Their vision is to bring a healthier lifestyle to the people and to motivate everyone to do a new kind of sports on a daily basis. Bownce aims to build a worldwide sports community, where people can make new friends and challenge themselves to get in movement. Their future plan is to launch as a strong brand in Q2 2022 their first basic model which is affordable for everyone. After successful market entry in Europe they aim to expand to the USA and Asia.
No competitors?
As Bownce is a disruptive product they do not see competitions, but market companions. They are inspired by the fast growth and success of Peloton and Mirror, which proved that there is a big demand for home sports activities. They are impressed that Lululemon invested 500 Million USD into the startup Mirror and that Peloton has reached over 35 Bil in Market capitalization with a 1.8 Billion Revenue in 2020.
Their USP is that bownce is suitable and affordable for everyone. Digital Sports devices do not provide challenges. But challenges like in soccer, basketball or any other type of ball games motivate us, cause they give us joy, fun and recognition. They want to change that with bownce challenges and events. They also believe that not only professional athletes should earn money for their performance, and therefore Bowncers can win tokens. The tokens can be spent or donated to do something good for yourself and good for others for a better and healthier life.
The biggest challenge
Their biggest challenge was and still is that bownce as a product is something completely new and they build a brand from scratch. Developing a completely new product with complex microtechnology, a new app with its own wallet and crypto token – it was something new for all the team.
Besides, they realized that they need to differentiate from others with a unique brand appearance and spent some time and resources in brand development. The challenge for promoting the product is to understand which target groups and channels are the most important to focus on and with which spendings.
COVID-19 – opportunity or a threat?
The team seesa chance in every situation.As a startup, Bownce was developed before Covid started. Covid helped them to raise capital, as a Sports IoT device seemed to be the right product at the right time. It also allowed connecting with people worldwide in Zoom meetings, as they got used to it.
On the other hand it slowed down processes and the product development, so that they had to shift the product launch later than planned. However they are reaching product readiness and they see that other digital sports companies profit a lot from the situation, such as the sales boom of Peloton or Mirror. Home will become a health hub where they integrate the sports activities in daily routines.
Therefore they believe that Covid is a chance to bring a healthier lifestyle to the people, so that they can do active movements from their homes or any place where they want to be.
