Immo Paul and co-founder Dr. Michael Kronenber recently launched Carenet, a wellness company that combines wearable devices with personalized data analysis to improve users’ quality of life. Self-monitoring and wearable devices are in their infancy stage in Brazil, but Immo feels that the self-tracking movement has potential to shift user behavior which ultimately can improve one’s wellness and health.
After a career in strategy consulting and a Swiss multinational company that introduced him to the Latin American market, Immo transitioned his career towards entrepreneurship with a focus on the Brazilian market. These work experiences exposed him to the nuances of doing business in Brazil such as familiarity with understanding tax laws. In 2008, Immo relocated full-time to Brazil to focus on his entrepreneurial pursuits.
Carenet wants to enhance the growing popularity of fitness in Brazil through data and technology. Immo stressed that his company focuses on the well-being and productivity of an individual. According to Immo, Carenet relies upon robust software and algorithms that provide relevant information to the user.
Immo hopes that two features of the Carenet app keep users engaged and motivated to continue using Carenet in the long term. First, he noted that his product must cater towards the individual and provide him or her with relevant and constructive feedback. According to Immo, data must be condensed and simplified for the user, because an overabundance of data might create boredom. One unique data set is a user’s True Age score versus chronological age. The True Age can contrast against a user’s chronological age due to physical activity or lack thereof in addition to other factors such as diet and weight. Secondly, in order to maintain participation and engagement, users can create and join communities within the app for a friendly competition among family and friends. Immo believes that the CareNet app ultimately functions as a cybernetic personal trainer.
With limited direct competitors in Brazil, Immo understands that Carenet must be careful not to jump the lifecycle. He noted that basic metrics such as walking, sleep, and calories are initially tracked with the intention to add more functionality and a more diverse set of measurements. The price of Carenet’s hardware device is another crucial factor that the company has addressed. Immo aims to price the device under 200 reais, and he wants the device to be durable and long lasting.
The concept of wearable devices is relatively new to the Brazilian market. In the U.S., the popularity of wearable devices has surged in recent years. Companies such as FitBit and Jawbone in addition to several other startups have created devices and technology for people to track and monitor these daily activities. In the case of Brazil, market introduction of wearable devices and the respective technology will be a challenge; however, Carenet is also positioned to build its brand and reputation as an early pioneer within Brazil.
Carenet caters towards individuals interested in longevity and wellness. Immo is confident that his software and algorithms will interpret data for the user and provide him or her with relevant and quick feedback in order to gradually shift behaviors. Carenet is geared to consumers who want a customized experience. The user experience allows for feedback that can ultimately shift habits in the interest of wellness and longevity.
Additional information: Carenet was recently featured on Valor Economico.[slideshare id=27315135&doc=carenetlongevity-teaser-1-131017201208-phpapp02&w=575&h=475]