New technology from startup ventures is transforming the global sports industry. This Startup Series has introduced over 300 startup companies in the sports technology space to a broader audience by allowing Founders of promising new ventures to tell their story and pitch their idea. Feel free to submit your startup’s answers to the below questions or contact us if you know of a startup that should be considered for inclusion in this series.
Company name: MyStrengthBook
Founder(s): Avi Silverberg & Mike MacDonald
Headquarters: Calgary, Alberta, Canada; and, Santiago, Chile
Website: http://www.MyStrengthBook.com
1. What is your elevator pitch?
Want to become stronger in the gym? With our intelligent data tracking system, and expert-designed workouts and programs, it's no wonder why the strongest athletes in the world are already on MyStrengthBook.2. Problem & Solution
People with fitness goals know what they want to accomplish but struggle with how to achieve them. They turn to solutions such as: fitness trackers and various workout programs. The problem is that most fitness trackers and programs aren't specific to a person's goals or abilities. Furthermore, these solutions are sold as separate products, where the data is not integrated effectively with the workout program, or vice versa.We view the program as the road-map to a user's goals, and the training data as the compass that guides a user throughout the journey. A person needs both to be successful. As such, our web-app tracks the training data from user's workouts to show progression and performance, and at the same time provides high-quality workouts and programs designed by our team of top athletes and coaches.
Let's say you had a goal to get a bigger bench press. On MyStrengthBook, you get exclusive access to workouts from the strongest bench presser in the World, as well as receive real-time training metrics that show your progress and performance. Now, that's value!
3. Market – your target market and the overall market
Broadly, we serve the fitness industry; however, just like Strava did with cycling and running, we segment our market by targeting specific fitness communities. We've already launched within a single fitness community, powerlifting, and will be launching into three other fitness verticals over the next 12 months (Olympic weightlifting, bodybuilding, and Crossfit). Each fitness community is slightly different in the data and training programs required to achieve specific goals, which is why we're building solutions starting from the bottom-up. The long-term vision of MyStrengthBook is to take on the $252,000,000USD addressable fitness market in the US, and beyond.4. Business Model – how do you make money?
We have a SaaS business model, offering feature-based pricing based. Users pay $9USD/month to access our intelligent training data, and $29/month to access exclusive workouts and programs designed by our team of top athletes and coaches. Users can also subscribe to our annual membership and receive a 10% discount on the listed prices.5. Management Team – with titles
We are a team of former athletes, passionate about providing the best tools in the fitness industry to tackle any goal.Avi Silverberg, CEO & Co-Founder
Background: A former World bench press medalist with 10 years of experience in sport science and sales/marketing.
Mike MacDonald, CFO & Co-Founder
Background: A multi-time World powerlifting medalist turned accountant, financial analysis, and data scientist.
Chantelle Little, Technology Lead
Background: A former club soccer player with 9 years of experience in leading web development teams.