Jumpy, turns a smart watch into kid’s favorite toy device.
In the conference of IDEAS Show last year, Misfit CEO, Sonny Vu, said that wearable device has not yet entered the 2.0 generation. People can still live without it now. But it will become necessities after more advanced technology innovation. Apple released the prototype of Apple Watch in last September. Does it change the demand of wearable devices? What is the challenge of Startups entering the field of wearable devices? Joyray technology, founded by Jerry Chang, develops children’s intelligence watch JUMPY, targeting at education and entertainment markets.
JUMPY currently has four partners and teamed up with more than thirty engineers in Foxconn on the technology and hardware development improving product’s appearance, kernel, and front-end. On the software side, the team developed a helper with an image of cartoon dog while co-working on children education app with Q.L.L. At the same time, JUMPY invited Professor of Education Master of toys and games in Taipei University, Fan Binglin, as their development consultant. JUMPY spent three months observing how children use smart watch to understand the expected audience interaction behavior.
Big data is on-trend. Can Startups stand a chance to share?
Chien, the general manager of Google mentioned in the Meet Taipei 2014, many wearable devices only solve the problem of the front end but lack of back-end services. Jerry thinks this is a myth to analyze the “big data.” He confessed that small business is not capable for integration platform while Apple and Google are utilizing their abundant resources for Health Kit and Google Fit. In addition, wearable health tech device is popular now. It probably is a long-term and more accurate data comparing to the annual health check. But actually, Jerry reckons these as waste materials because according to the survey from foreign developers such as Fibit and Jawbone, 85% of users stop wearing those devices in three months due to that they found no real help to synchronize data. And this also led doctors not using wearable devices. Different from wearable health tech device, service of JUMPY is oriented from entertainment. Children will be very happy to “be traced” and wearing for a long time.
There is no dominant brand in wearable device market
In terms of market planning, JUMPY plans to become a value-added content provider. It is relatively easy to find CP for Android platform. Besides, JUMPY learns from Mii pattern to profit from accessories. Therefore, JUMPY will launch a series of related products, such as children’s favorite robot charger. Jerry also talked about the past work experience in Foxconn realizing value of brand, and now there is no dominant brand in wearable device market. Their competitors, Kidizoom and Filip, launched new products respectively in June and July, approximate sales is 700,000 to 800,000 in six months, while Samsung sold one million smart watches in one year. Jerry believes that a one third of the sales will be able to support a Startup. Finally, 5-8 years of age children in US accounts for about 11% which is about 30 million people. 5% of the market is set as the goal. In the ongoing marketing process, the team looks forward to the launch of Apple Watch in the first quarter next year to educate consumers.
Such integration of hard and soft wares seems to be popular to many Taiwanese teams. However, facing the rise of Shenzhen, how can Startups deal with the situation? Jerry believes that China is indeed a great market for trial and error as well as endless supply of local talents. But he still believes that Taiwan can provide better quality of hardware and software integration. Shenzhen ecosystem has advantages of hardware appearance and PCB board design, but not the concept of creativity and the market. JUMPY integrates their creativeness and hardware scale of Foxconn and will launch on Indiegogo on August 18th. Let’s take a look at their promotional video.