Nexercise has been Indicted!?!?

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So I read a great article  in TechCrunch about why many Health Tech Startups fail, and it lead me to analyze my own company, Nexercise.

After looking I think we are in pretty darn good shape.  By the way, I feel like I’m responding to a deposition!

 “Nexercise how do you plead on the following charges?” – Judge

Lack of Specific Focus or Adoption Point

Not Guilty. We are focused on increasing physical fitness in people who often lack the motivation to do so on their own.  This is a big pain point.  We are not targeting heavy fitness enthusiasts, but we definitely have an appeal to those people as well.  We specifically reward behaviors, not outcomes that makes us a unique player in our space.  By targeting behaviors, it makes the Nexercise journey fun for the person who may take 5 times as long to be able to run 5 miles.  Nexercise is about the journey, NOT the destination.

Expected consumers to pay

Not Guilty.  Nexercise is free to download and to use!

Expected consumers to enter lots of information

Not Guilty. Nexercising is easy.  You just select your activity and put the device in your pocket, armband, purse, or even just set it down next to you (for partial credit) and do your activity.  It automatically tracks the time, location, and movement of the activity.  We even make sign up easy, you don’t even have to enter any information at all to try it!

Required huge amounts of money

Not Guilty. Nexercise is a bootstrapped startup that is running really lean.

Require multiple and intrinsic partnerships

Not Guilty. Nexercise makes it easy for vendors to promote their products and services on its platform.  Additionally, Nexercise is promoted direct to consumer.

Lack Understanding of Reimbursement Dynamics

Court outbreak… “We can get reimbursed???”.  Since this is quoted as the “number one reason why healthtech startups have failed.” we are definitely NOT GUILTY.  Our business does not rely on any reimbursements whatsoever!

Your Honor, I move that Nexericse be noted on record that it has a large chance of being successful as a healthtech startup because it doesn’t violate any of the charges that have been brought against this growing industry.

P.S. If I screwed up on any legal jargon, forgive me because I’m a techie with an MBA that used to watch too much Law and Order 🙂

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