The opportunity for Nuheara to build a significant business can be summarised as
follows:
(a) the Wearables market is projected to rapidly grow over the next 5 years
with many industry research bodies predicting strong consumer and
enterprise adoption;
(b) Wearables innovation is expected to move from the wrist to other parts of
the body including the ear (i.e. Hearables);
(c) according to independent market research company eMarketer Inc, it is
anticipated that approximately 2.56 billion smartphones will be in
circulation by 2018 and many consumers will require a hearing device to
connect to their smartphone;
(d) Nuheara's opportunity is global in scale and not restricted to any particular
geography. Nuheara has the added benefit of its co-founders being colocated
in Australia and the USA;
(e) technology adoption is moving rapidly to a voice-enabled world where
consumers interact with their smart devices with their voice – Nuheara is
placed to be one of the best-of-breed hearing platforms to enable this
adoption;
(f) Nuheara's aim is to make its IQbudsTM the platform of choice for the world's
voice enabled software developers. Nuheara expects to release a software
development kit to third party app developers. For example, this could
include Hearables apps such as translating languages on the fly and personal
tour or sightseeing guides;
(g) the technology team at Nuheara are world class audio digital signal
processing technologists and have a proven background in inventing and
building complex audio technology devices; and
(h) the co-founders of Nuheara have a history of building global technology
companies and this will be the second hearing technology business they have
developed.
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