New Horizons Wellbeing Innovation Lab to help start-ups build impactful wellbeing businesses.
Social enterprise New Horizons, is looking to help start-ups build impactful businesses through their unique Wellbeing Innovation Lab (WIL).
According to the Global Wellness Institute, the global wellness industry is a $3.7 trillion market. However, entering the market with a new wellness product or service poses immense risks for start-ups despite the blossoming market. New Horizons has been developing the Lab for the last six months and is now throwing open its doors to wellbeing startup organisations.
CEO of New Horizons Judi Higgin said, “The Wellness Innovation Lab is a focal point of creativity that will empower wellbeing sector founders to build impactful, successful start-ups that provide much needed wellbeing solutions of tomorrow. From our foundation 50 years ago as the world’s first social enterprise New Horizons has constantly innovated. Our team of experts at New Horizons are leaders in wellbeing. Now we want to share our experience and expertise with other businesses wanting to contribute to the wellness sector.”
The WIL takes start-up wellbeing ideas through the Lab’s process of validation and design to build a minimum viable product that is pitch and investment ready.
New Horizons has already developed multiple prototypes in the lab. One idea, Parallel Parks, a virtual reality experience for people with disability to immerse themselves in some of Australia’s best National Parks, has already won an award for its clever use of technology and innovation. Projects include:
- Parallel Parks – A Virtual Reality Experience– winner of this year’s NSW Parks and Leisure ‘Best use of Technology’ Award. Parallel Parks is a tool that inspires a sense of wellbeing by enabling users to immerse themselves in nature anytime, anywhere.
- A Wellbeing Diagnostic Tool– designed to measure a person’s wellbeing across a range of domains and provide guidance on how to improve weaker areas.
- A Community Mapping Tool – enabling better connections between service providers and customers with a need for those services by clearly showing where both are located.
The process at the WIL involves a structured innovation facilitation program where customer needs and problems are assessed and prioritised through a range of exercises. New Horizons then facilitates a design and prototype for the solution. In some cases, products can go from idea, to minimum viable product, to market ready product in the space of just 12 weeks.
The WIL can not only help the start-up community, but established organisations, and those in the NFP sector to build resilience and face inevitable disruption head on.
“We hope the Lab will drive new funding sources and partnerships and help improve customer experiences and business operations,” said Ms Higgin.
To celebrate opening its doors, New Horizons is offering a business incubation package valued at $20,000 to one lucky startup that has a standout idea. Interested startups can enter via the dedicated site, and if shortlisted, will pitch the idea at the Sydney Pitch Fest on 26 June 2018. For more information go here: http://newhorizons.org.au/mywellbeing/