Making A Change In The Wearables Tech Industry with Ted Finn
“Make sure that you're solving a problem worth solving” [17:00]
Who is Ted Finn? [0:30]
Ted is the CEO and founder of Uplift Ventures and is also the chairman and co-founder of Innovative Wellness Systems. He is a global citizen and 30-year entrepreneur with residence and operating experience in North America, Europe, and Asia.
How Ted went from idea to conception of the company [3:40]
Ted talks about how he thought he could take an insole and make it smart. He talks about how they put sensor technology in it. This helped people who couldn't feel their feet to know when there was too much pressure building up.
Development of wearable technology [7:22]
Ted quotes that developing wearable technology is a big project. But fortunately, Ted says he’s been lucky to be able to meet and bring on board a team of people to help him in this journey. He mentions his co-founder, Johnny, who is a software entrepreneur.
Regulation obstacles [12:25]
Ted insists that they are very familiar with the rules and requirements because if they want to be an approved medical device they must comply. He says that there's a very long and challenging pathway to do that.
Ted speaks about the trends in wearables [14:00]
Ted says that the trend with wearables is going to have a huge effect on our healthcare system. He says that if managed properly, it will be incredibly beneficial because of the ability to begin to collect data from users and patients in real life, not in the office.
Advice to healthcare professionals trying to get into the wearable technology market [16:15]
He insists that people should be thoughtful about where they want to go into. He says that you need to make sure that your device or wearable is doing something that people will want.