Business model design for a wearable biofeedback system

Wearable sensor technologies used to track daily activities have become successful in the consumer market. In order for wearable sensor technology to offer added value in the more challenging areas of stress-rehab care and occupational health stress-related biofeedback parameters need to be monitored and more elaborate business models are needed. To identify probable success factors for a wearable biofeedback system (Affective Health) in the two mentioned market segments in a Swedish setting, we conducted literature studies and interviews with relevant representatives. Data were collected and used first to describe the two market segments and then to define likely feasible business model designs, according to the Business Model Canvas framework. Needs of stakeholders were identified as inputs to business model design. Value propositions, a key building block of a business model, were defined for each segment. The value proposition for occupational health was defined as "A tool that can both identify employees at risk of stress-related disorders and reinforce healthy sustainable behavior" and for healthcare as: "Providing therapists with objective data about the patient's emotional state and motivating patients to better engage in the treatment process".