Advancements in technology have revolutionized how people maintain and monitor their health. When the heart monitor was invented, it gave individuals the ability to track their own heart rate, which can be important for athletes or people in Michigan with certain types of diseases or medical complications. However, there is always room for continued innovation and improvement. One new company believes it has improved on the heart monitor and plans to make a profit from its invention.
PulseOn was founded by an enterprising entrepreneur after five years of working at Nokia. During this time at Nokia, the man developed new technology for an extremely accurate heart monitor. Unlike the traditional heart monitor, the user straps the PulseOn to his or her wrist. This makes for a more comfortable-fitting monitor, while also being less expensive than the common heart monitor models.
The wearable technology market is a $3 billion to $5 billion industry, with experts predicting that the market will increase to $30 billion to $50 billion within the next two to three years. On the other hand, this industry has seen many new firms enter the market during the last year. Therefore, the possibility of competition in the activity monitor market is significant for the company. Fortunately, with a comprehensive and strategic business plan, the new company may be able to maintain an edge over the competition.
However, it is important for a new company in Michigan or any other state to ensure that its business plan complies with all the current laws regulating the specific industry. It may not be straightforward to determine which laws are relevant, especially for a new and innovative technology company, such as PulseOn. Therefore, having complete knowledge of the law is essential to making the right decisions.
Source: Business Insider, PulseOn, A Wearable Tech Startup Spun Out Of Nokia, Says It Has The Most Accurate Heart Monitor In The World , Megan Rose Dickey, Nov. 23, 2013