StretchSense selected for Silicon Valley accelerator

Media Release:

Selection for Silicon Valley accelerator will open doors in the US for StretchSense

Auckland, April 1, 2015 – Award winning Auckland company StretchSense is among a small group of start-ups to be selected for one of the world’s leading accelerator programmes in Silicon Valley.

StretchSense is one of 25 firms chosen from 1,000 applicants to take part in the 12-week Plug and Play Internet of Things (IOT) start-up acceleration programme which has an impressive range of corporate partners such as Panasonic, Baidu, Mercedes-Benz, Star Micronics and Samsung Open Innovation Centre.

StretchSense produces soft sensor technology—rubber bands with Bluetooth—for measuring human body motion, with applications ranging from physiotherapy and sports training to animation and gaming. The selection for Plug and Play, regarded as one of Silicon Valley’s most dynamic accelerators, creates further momentum for the company which recently won the Sports and Fitness category at the Wearable Technologies Innovation World Cup 14/15, the leading global competition in the wearable tech space. In addition StretchSense was last week again named a double finalist in the New Zealand Hi-Tech Awards in the NZVIF Hi-Tech Startup Company of the Year and Fronde Hi-Tech Young Achiever categories.

StretchSense CEO Dr Ben O’Brien says selection for the programme, which begins in early April, gives the company an unparalleled opportunity to meet investors and new corporate partners.

“Plug and Play is right in the heart of Silicon Valley and the calibre of venture capitalists and corporate partners that they bring to the table is outstanding. We are looking forward to making the most of those connections!”

Since Plug and Play was launched in 2006, it has blossomed into a global network of technology accelerators that have supported more than 1500 early stage companies including well-known names like PayPal, Dropbox, SoundHound and Lending Club.

Plug and Play has been described as a “start-up university” where participants learn how to grow an international business from veteran venture capitalists and successful serial entrepreneurs.

Dr O’Brien expects completing the Plug and Play programme will give the team a strong network and sales presence on the west coast of the United States (US).

“Plug and Play provides an excellent springboard into Silicon Valley. Entry into this highly competitive programme is confirmation that StretchSense has developed the capability and connections needed to go global and succeed internationally. This is an exciting milestone for the company.”

Adam Bennett, US West Coast Trade Commissioner for New Zealand’s international business development agency New Zealand Trade and Enterprise (NZTE), congratulated StretchSense for winning such a prestigious opportunity to succeed in Silicon Valley.

“NZTE looks forward to working closely with StretchSense to maximise the opportunity.

“Through the established relationship between NZTE and Plug and Play, we expect more kiwi companies to use their support and programmes and follow in StretchSense's footsteps. Their successful relocation to this programme is a real template for other New Zealand tech companies hoping to grow fast in the US."

StretchSense, a Business to Business (B2B) sensor company that recently completed a capital raise from the Flying Kiwi Angels and NZVIF, has around 100 customers in 16 countries that use its sensors in a wide range of applications.

It is experiencing growing demand for its latest product—a flexible, tough fabric sensor—which is rugged, accurate, and slim enough to be unobtrusively included in the wearer’s clothing or placed on the body. Launched at the WT Conference in Munich in February, Dr O’Brien says the new fabric sensor provides a great platform for experimentation with the technology.

Globally, wearable technologies is a rapidly emerging industry, with key analysts predicting 2015 to be the year when wearable devices gain traction among a broad consumer market, particularly those that are both secure and fashionable.

To find out more about StretchSense, visit: www.stretchsense.com

About StretchSense

StretchSense is commercialising technology originally developed at the Biomimetics Laboratory at the Auckland Bioengineering Institute. The team has years of experience working with stretch sensors and founded StretchSense in 2012, with the mission of making stretch sensing easy. In addition to CEO Ben O’Brien, the management line-up includes CTO Todd Gisby, Chief Scientist Iain Anderson, Chairman Ralf Muller, Angel Director John Newton and Angel Observer Heath Milligan.

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