Background
From 2016 to 2018, 3i-Strategy was brought in by their South Australian alliances partner, Catherine Mathews to collaborate on building the strategy and commercialisation for a health screening health and wellness start-up platform.
The founders are highly globally respected sports scientists and academics who have built a software tool and process for evidence based predictive health analytics. The mandate was to deliver a lean go-to-market implementation plan.
Setting up
Upon assessment of the competitive environment, it was deemed that the product was highly innovative with excellent commercial potential. A team was built including a highly respected CEO from the sports and physiotherapy sector as well as Anand Sankhe, an experienced global M&A and finance professional who were brought into create a detailed opportunity assessment, financial forecast and valuation for fund raising. Accounting and Legal teams were also asked to advise on Intellectual Property and Taxation requirements.
Journey
The strategic study generated feedback for multiple routes to market from medical centres, gymnasiums, universities to corporate health programs in Australia and with other countries.
Multiple investment opportunities were sought, one of the key insights was the need to produce a “lite” version for corporate and insurance health and wellness programs.
Another use case was generated based on similar algorithms built by the founders. A requirement was received from the Indian government requesting the need for an evidenced based app for assessing children’s health and for talent recognition under their Khelo (meaning Play) program, the largest health and fitness program by any government in the world.
Outcome
The “lite” version generated a scalable commercial outcome for the founders through a corporate health group and further opportunities for expansion were actively sought. The Khelo app was deemed the best technical solution from any tool investigated globally. As a direct result, the Indian government is keen to further collaborate at a government-to-government level with Australia for sporting and fitness curriculum to be introduced into their school system.