Role: 1116

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For further information on client click 'Executive Summary'

Investing Non-Executive Directors (Non-Exec) with backgrounds / experience in high growth startup businesses, and knowledge of and / or networks in the world of sports, are required for our client in the Sports Health Tech sector where they are supported by the Enterprise Lab, Imperial College London, and Innovation RCA, Royal College of Art, London.

The business concept is to be a leader in measuring endurance performance by collecting lactate data via a mouth wearable. This has broad applications in amateur and semi-professional athletes across all sports sectors, and will lead to adoption in the professional sportsperson market. Further developments will enable the device to be used to monitor and diagnose several medical conditions like Viruses, Stress and Diabetes, opening up totally new markets.

Eventually the technology will move into the broader healthcare market to monitor Biomarkers like glucose, cortisol, hormone levels, and the diagnosis of severe diseases such as cancer.

The company is looking to strengthen their Board with the appointment of 4 to 5 Investing Non-Executive Directors to contribute their knowledge, experience and networks to the growth of the company. 

The Non-Executive Directors will be encouraged to become a shareholders in the Company to align the incoming Non-Exec’s interest with that of the existing Directors who are shareholders.


Business Concept:

Our client was born from an experimental project at the Royal College of Art and Imperial College London. The mouth interface working prototype was supported by InnovationRCA and it was registered for the first patent. The team then evolved into a startup business where they are actively working on prototype iterations and further exploration of mouth interfaces for measuring more than just Lactate.

  • High performance athletes require blood tests for lactate measurement which is key to evaluating their training effectiveness and health management.
  • This creates delays, causes unnecessary pain, risks infection and is relatively expensive
  • The mouth interface collects continuous data from saliva in a comfortable and secure way without the need for invasive blood tests, sending data to the cloud.
  • There is no other brand on the market that offers the same product.


Market & Opportunity: 

  • The UK market for sports tracking devices has a projected revenue of £480 million and the global market is estimated at £12.7bn across amateur and semi-professional athletes, professional endurance athletes and high-profile professional teams.
  • The initial market opportunity is with amateur and semi-professional athletes who are keen to try new sports gadgets. There are currently 13 million potential adopters.
  • Later markets include running, cycling and triathlon with 17,500 athletes and £42 million market potential, and high-profile professional teams in football, basketball and rugby with £11.5 million market potential.
  • Further iterations of the device will open up other markets in the broader healthcare sector, and by way of example the glucose tracking device market is worth £15.7bn and growing rapidly 


Client Proposition: 

  • Our client is looking to close an investment round of £210,000 to reach demonstrator device level.
    • Total Investment sought £210,000
    • SEIS/EIS Assurance / Yes
    • Total Equity offered /10.5%
    • Use of funds: R&D and pre-commercial trials 


Non-Exec Director Roles/Requirements/Expertise: 

  • Sports scientist and / or Professional who has knowledge of performance sports data and how it is used within the broad sports industry sector.
  • Sales and Marketing professional who has worked in or around the sports industry and is well connected to make the necessary introductions.
  • Finance experienced CFO/FD with commercial investment with VC or PE ideally in a sports related field.
  • Additional candidates with experience of Startups / early stage high growth businesses, especially in a sport or sports related field are also encouraged to apply.
  • It is expected that the roles will require approximately 2 days per month – more in the early stages.
  • The Non-Exec will be prepared to invest in the business, becoming a shareholder in the Company, to align the incoming Non Exec’s interest with that of the existing Directors and Advisory Board Members who are all shareholders. The company will be registered for the SEIS/EIS scheme which provides 50% and 30% tax relief respectively and up to 100% capital gains relief subject to status.


Closing Date: Friday, 12th February 2021

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