E-Wellness & Technology Trends September 8, 2016

in partnership with

E-WELLNESS & TECHNOLOGY TRENDS 8 September 2016 London, UK

INTRODUCTION The eWellness & Technology Trends 2016 event was organised by Concentric in partnership with Bloomberg, and discussed how the fitness and wellness industry is changing as a result of technological advances. Panellists debated on three separate topics:   

Millennials’ buying and consuming habits – how conventional wellness businesses are changing Utilising Big Data to monetise wellness Virtual reality and gamification taking off in cycling – is this the future of sports and fitness?

The core discussion panels were made up of industry leaders representing the most successful companies in their respective fields, including eGym, Fitbug, Virgin Active, PureGym, PayasUgym, Babylon Health, Thriva, Zwift, Wahoo, Tacx, and AbsoluteBlack.

Presenters covered a wide range of themes, including consumers’ habits and behaviours in the fitness market, the significance of Big Data, and future trends we can expect over the next 5-10 years.     

Introduction and Keynote Panel 1: Millennials’ buying and consuming habits Panel 2: Utilising Big Data to monetise wellness Panel 3: Virtual reality and gamification taking off in cycling – is this the future of sports and fitness?

Closing Remarks

You can view video recording of the sessions here: https://www.youtube.com/playlist?list=PLtolEEykVCDd89BArKjdrSd7ZPkZoG4fJ ABOUT CONCENTRIC Concentric is a technology investment partnership looking to invest in early-stage European technology companies. We partner with founders who have built original and scalable products with a proven business model and product-market fit. We are substantially invested in the partnerships with our entrepreneurs, and look to support their growth by deploying both financial and human capital.

If you want to learn more about Concentric, or have any questions for us, don’t hesitate to drop us a line at info@concentricteam.com UPCOMING CONCENTRIC EVENTS 2017 14 March 2017: Market places - Why such growth?

22-24 May 2017: Annual Technology Excursion – Oslo and Copenhagen 18 October 2017: Fintech: Banking in 10 years

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KEYNOTE: HOW THE FITNESS & WELLNESS INDUSTRY IS CHANGING DUE TO TECHNOLOGY

Michael Rogers Three-time World Time Trial Champion & CEO of The Riis-Seier Project https://www.linkedin.com/in/michael-rogers-41a7bab3

We were honoured to have Michael Rogers, a three-time World Time Trial Cycling Champion & CEO of The Riis-Seier Project, as our Keynote Speaker and panellist.

Michael made several very informative points on the current state of the fitness and technology industry, outlining current trends in the market and giving his personal opinion on the future of the sports and fitness industry.

Virtual Reality has changed the cycling world - indoor sessions have been made exciting

Exciting times have only just begun to arrive in the digital wellness arena

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If sensor technology can continue its current progress, we will be able to track physical and mental metrics at a deeper level

There is now a need for creative and capable developers to make use of the data that we aggregate

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PANEL I – MILLENNIALS’ BUYING AND CONSUMING HABITS Philipp Roesch-Schlanderer CEO – eGym prs@egym.com

Andy Caddy CIO – Virgin Active Andy.caddy@virginactive.com

Anna Gudmundson CEO – Fitbug anna.gudmundson@fitbug.com

Humphrey Cobbold CEO – PureGym humphrey@puregym.com

The first panel brought together expertise from different spheres of the wellness and fitness industry, to discuss millennials’ buying and consumption habits, and how conventional businesses must adapt or transform in order to meet the changing needs.

Our Moderator Kate Cracknell, Editor of the Health Management Club Journal, touched on a number of interesting aspects of the agenda, looking into the market trends and consumer behaviour, data collection and processing, and future trends in the modern fitness industry.

If the Millennial generation is all about ‘I want it all, I want it now’ then how are companies responding to ever increasing customer expectations through innovation?

How is data helping to satisfy growing consumer expectations? What are the future trends, and what is going to happen? The following conclusions arose from the above questions: How are companies responding to the changing expectations of Millennials through innovation?  

Today’s customers are more self-confident, they have learned how to evaluate a product and whether it meets their expectations Our goal is to make sure that we work on a very clear chain of products and we deliver just what we promise

What do people expect from data?   

Old-school platforms with a lot of content are really not going to work for the millennial generation Everything has to have a digital interface There is a need to continuously innovate through methodology and processing

Future Trends?     

People will have a connected journey to move across products Partnering between ecosystems to manage data Data transmission will improve exponentially The need for community will increase Users expect simplicity of use => hardware products will become more tailored through software

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PANEL II – UTILISING BIG DATA TO MONETISE WELLNESS

Jamie Ward CEO – PayasUgym jamie@payasugym.com

Rabin Yaghoubi CCO – Babylon Health Rabin.yaghoubi@babylonhealth.com

Jeni Fisher Lifestyle, Health & Fitness Partnerships, Google Play jenif@google.com

Hamish Grierson Co-founder & CEO – Thriva hamish@thriva.com

The second panel covered the topic of Big Data in the Fitness and Wellness industry, which was discussed by some of the brightest minds from emerging companies in fitness and health.

Moderator David Minton, from the Leisure Database Company, commented that we are all positioning Big Data in such a way that we can monetise on the data collected. He addressed the core question of how Big Data helps to develop businesses.

Here are the key points: The real challenge for fitness companies is connecting real data to action

The key is to collect data together with other developers to get a more holistic view. It is all about providing real insights

We need to increase data collection in all health segments in order for it to become a significant underlying engine

If we can understand the user, we will be able to deliver the right product, at the right time for them

Social media in the fitness industry helps with understanding customer trends and where the market is going

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PANEL III – VIRTUAL REALITY & GAMIFICATION TAKING OFF IN CYCLING – IS THIS THE FUTURE OF SPORT SPORTS AND FITNESS? Michael Rogers Three-time World Time Trial Champion & CEO - The Riis-Seier Project mickrogers@icloud.com Matteo Carrara Ex-World Tour rider & winner of Tour de Luxembourg matteo@theinteriorhouse.com Kevin Abt Head of Europe – Wahoo wahookevin@wahoofitness.com

Steve Beckett VP of Marketing and Customer Acquisition - Zwift steve@zwift.com Simon Tacx Commercial Director – Tacx simon@tacx.nl

Marcin Golec Founder & CEO - AbsoluteBlack marcin@absoluteblack.cc

During our third and final panel of the day, moderator Ting Le Deng from Santander addressed the question of virtualisation of sports and fitness. Our panellists explored the drivers of this trend, and the ways in which it engages consumers.

The panel generated and discussed the basic concepts of virtualisation and gamification, and the possible breakthroughs in this area that will affect the whole sports and fitness market.

The driver of the trend

•Software, hardware and people •Problem solving for people's busy lives

How to engage consumer?

•Make it community-driven •Earn Credibility in Sport

Is it posible for two sports markets to come together?

•Two markets, that are quite different can come together, dependent on what the consumer wants •It is all about problem-solving and e-sport growth. Indoor training is the future

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CLOSING REMARKS

Jamie Ward CEO – PayasUgym jamie@payasugym.com https://www.linkedin.com/in/jamie-ward-0486023

Jamie Ward’s closing remarks encapsulated and highlighted the main aspects of the event. He shared the main commercial avenues for the wellness and fitness industry, and explained what role technology will play.

Customer psychology is key To make your business successful you have to understand your customers’ needs.

People should get what they want, when they want it. The core mission is to develop solutions for our customers’ needs. If we can improve user experience, we can grow.

Dramatic shift in how people think of the fitness industry It is important that we really understand this generation, millennials’ attitude have been developed, have been driven by the economic landscape and technology that exists today. The market is growing, attitudes towards health and fitness continue improving. Technology pushes markets to change more rapidly, and really helps to motivate people.

“We are selling a concept, sometimes a dream, sometimes an ambition” More triggers = more business Draw a trigger map, identify if data is available, and if not, then produce it and workout how your business would fulfil the needs of that individual customer. There is no other industry that requires a trigger as much as health and fitness.

Real time data is exciting and powerful We should extract data, make it meaningful, and use it to generate improvements in the marketplace.

Wellness is enabled by technology, the beauty of this sector is not simply technology but the abundance of real time information. Data is exciting and powerful, and if we can intervene earlier and critically with tailored solutions to the individual needs then we can grow participation in this industry.

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As always, we would like to thank our partners at Bloomberg for their support in setting up this event. We would also like to say how grateful we are to our panellists, who so kindly agreed to share their knowledge and views with us. We hope you enjoyed spending your morning with us, and look forward to seeing you at our next event.

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Appendix – Attendees

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First Name Kevin Pramod Rob Ray Chris Baron Becks Anastasia William Michael Ben Tim Steve Robert Asim Hannah Jacqueline Thomas Andy Matteo Grace Luciana Gary Humphrey Samuel Louise Mark Kate Fuad Francine Ting Le Nishal Steven Andrea Laura Bobby Rebecca Otto Nick Mark Richard Brian Jeni Jess Will Hannah Kavita Imogen Marcin Tiffeny Cassandra Rob Hamish Elena Anna Katherine Neil Robert Greg Ainura Laura Hettie Christopher James Rebecca Richard Anna Tim Timothy Lucas Thomas Helen Nuo Rob Michelle Adam Ryan

Last Name Abt Achan Agnew Algar Allinson Armah-Kwantreng Armstrong Astafyeva Ball Bang Barringer Bayley Beckett Bedford Bhuta Bretherick Broers Bulgin Caddy Carrara Carter Carvalho Se Clarke Cobbold Cole Conolly-Smith Coyle Cracknell Dadashov Davis Deng Desai Dick Dinnick Divine Dixit Douglas Eberdorfer Evans Evans Firminger Firth Fisher Fleischer Fraser-Allen French Gaglani Gaunt Golec Gould Greeff Gregory Grierson Gromova Gudmundson Haggett Harmsworth Henderson Herbert Hertrich Hill Holmes Howlett Hughes Hunt Hutchcox Hyde Jackson John Josten Juhl Keegan Lai Lander Laven Lazarus Le Quesne

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Company Wahoo Barts Health Barclays Oxygen Consulting Albion Remotehealth Tech Limited Wellness Coach Concentric Sanlam Exerp QC Fisher Zwift LTG Mujo Mechanics Ltd. Nelson Bostock Group Limited ICM Esquared Virgin Active Project X Green Contact Book Racefully Private Investor Pure Gym University Of Cambridge London & Partners Velon Health Club Management Inq.Social Pure Gym Santander Imin Steven Dick Wellbeing Network Statera Foods The Dixit Company Lrd Premier Training International Swiss Invest Sport England Capacity Consulting Yahoo Mie Medical Research Ltd / Fitquest Google UK Son Of A Tailor Albion Ventures Forsyth Group Beast Ventures Harlequins Absolute Black Tiffeny Gould Consulting Glaxo Smithkline Services Unlimited The Retention Edge Thriva Nakeid Fitbug Reddoor Unlimited Payasugym Albion Ventures LLP Jupiter Asset Management Investor Welltodo DOSE Liberum Buchanan Capital Octopus Ventures N/A Bethnal Green Ventures Lean Investments Freelance Babylon Riis Seier Project Helenkeegan Santander Fisikal Fitbug Adam Third Space

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First Name Rob Phillip Benoit Nina Hamish Oliver Mark Melwin Jochen Stephen David Ilja Adrian John Mickael Fati Jon Jacob Herborg Lea Rupert Serena Baris Ash Zoe John Mikko Scott Chris Samantha Caroline Raevendren Laetitia Jihn Jonathan Wesley Kjartan Philipp Michael Florent Robert Josh Massimo Ahmet Taha James Olga Denis Jake William Channon Alessandra Igor Pietro Natalie John Philippa Simon Penny Abi Carol Adele Anish Thomas Craig Shara Mohit Jamie Lewis Francesca Teresa Gareth Adrian Rabin

Last Name Leboff Lerwill Machefer Mannheimer Martin Matuszynski Mcdonald Mehta Michaelis Minger Minton Moisejev Mooney Mooren Munck Naraghi Nasta Nathan Nielsen Novis Oppenheim Ozaydinli Patel Peden Pelling Petaja Phillips Pointon Porter Rae Ramachandran Redbond Regan Relph Richards Rist Roesch-Schlanderer Rogers Roulet Rowland Royston Saetta Sakar Salkeld Shafranik Shafranik Shand Slynn Smith Sollberger Starha Stella Stoneham Stuart Sturt Tacx Tarling Taylor Tee Thackray Thakkar Tharakan Thompson Tochia Verma Ward Warn Warner Wincrantz Wong Woodrup Yaghoubi

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Company BOOM Cycle Wellbeing People Echo Evermore Grant Thornton UK LLP Oppenheimer Europe Ltd Concentric Helium Egym SLM Blue Skies Innovations Ltd The Leisure Database Company Human Wetrain Train Me Fitness Riis-Seier Newton Xercise4less.Co.Uk Exerp Statera Foods Kinled Good Zing Fitwell Mercia Fund Management Insane Logic Back-Track Europe Ltd Yogaia Esquared Racefully Payasugym Ukactive Mutual Invesmart Speed Comms Payasugym VITL LTG Concentric Egym Riis Seier Project NOR Capital BOOM Cycle Alma PR Limited ION TRADING Fitwell Investor Investor Concentric Beachbody LIVE Headstart Advisers London Metropolitan Business School Evermore Kalrock Comet Finance VC/Angel Network Bounts Joelson JD LLP Tacx Pentland The Leisure Database Company Coventry University - London Campus Anglo-Suisse Capital Fxcm Open Data Institute Trinity Street Asset Management LLP DOSE Brook Payasugym Omada Investment Management LTD Downing Ventures Chandos Communications Gambond, Non Profit CXO Europe/Asia CDW Babylon

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