New technology from startup ventures is transforming the sports industry. The mission of this series is to introduce startup companies in the sports technology space to a broader audience and allow Founders of promising new ventures to tell their story. This particular startup is taking part in the Hype Global Sport Innovation Competition In Rio De Janeiro on August 24th, 2016.
Company name: BRACEUNDER
Founder(s): Teddy Hodges
Headquarters: Chicagoland, IL
1. What is your elevator pitch?
BRACEUNDER is an athletic apparel company designed to make every body better. Our adjustable compression tights, straps, and other applications both treat—and prevent—injury. Using a combination of cutting edge science and high tech style, our products provide therapeutic, dynamic, and customizable support. We help people reconnect with their bodies and rediscover the joy of movement.
2. Problem & Solution
We have an epidemic of chronic pain happening in our country. There is an almost $900B cost on the United States economy because of musculoskeletal problems. There are 20M Americans seeing a doctor because of their knee, 4M meniscus tears, and some believe over 500K ACL tears each year.
Market – we are targeting the high school athletes having multiple knee surgeries by the time they graduate, we are targeting the professional and retired athletes who wear their knees, and we are targeting those people having knee replacements. The $2.5B compression garment industry sits within the $126B sports apparel industry. The joint bracing industry is stagnant at $1.3B.
3. Business Model – how do you make money?
We will be selling our platform BRACEUNDER product and multiple accessories through our ecommerce to start.
4. Management Team
BRACEUNDER was founded by an individual who has experienced 9 knee surgeries and the rest of the team has also experienced multiple knee surgeries. We are proud to say that we have first hand experience.