Wearable tech is primed to make its mark.
Technology like Jawbone, Fitbit, and Pebble have been increasing in popularity over the years and last month Apple unveiled the new potential gold standard in wearables, the Apple Watch.
Now, San Francisco-based venture company Wearable World is set to launch Europe’s first wearable tech incubator, based in London.
Officially launching on October 22nd at GLAZEDcon, Wearable World Labs will be headed up by Marcus Sandberg, co-founder of Proleads. He will be leading a team of five to drive the European expansion headquartered out of London.
The rise of wearable tech
Wearable World Labs launched in the US last year and the 35 companies in the first cohort have collectively raised more than $9 million in investor backing, and more than $5 million from crowdfunding.
Co-founder of Wearable World and directors of the Labs programme Kyle Ellicott explained:
Wearable World wants to have a transformative effect on investment in wearable tech in Europe, inspiring others to follow our lead so we can create a really strong, localised angel class and ecosystem for this market.
Redg Snodgrass, CEO and co-founder of Wearable World, added that “investors have been holding back companies in this space for years”.
European startups have previously taken part in the US-based programme.
Companies included Sensum, which has developed the technology to capture emotional data to enhance user experience, CreoPop, which is working on the world’s first 3D printing pen; and MiriQ, which has created Ripple, an intelligent smartphone charger and lifestyle accessory.
Sector specific incubators
London has seen a number of sector specific tech incubators and accelerators in the past few months.
The announcement comes in the same week that Breed Reply, Europe’s first Internet of Things incubator, was announced.
Pi Labs, the first property tech incubator in Europe, also announced its launch recently.