Bonbouton Accepted Into MetLife Digital Accelerator Powered by Techstars
New York, NY, July 15, 2019 – Bonbouton has been accepted into MetLife Digital Accelerator powered by Techstars, an accelerator program that focuses on innovating in the insurance industry alongside startups who are building insurtech ideas, especially those with plans to reach new customers, create next-generation products, and digitize processes.
“Being accepted into this program is a pivotal next step for Bonbouton,” says Linh Le, Founder and CEO of Bonbouton. “The purpose of our technology is to generate better health outcomes, and working with insurance companies, and MetLife in particular, will help us reach more people who live with diabetes at a greater scale.”
The Bonbouton smart insole and mobile application companion will allow patients, providers, and loved ones to constantly monitor diabetic foot health and detect early signs of foot ulcers, a complication that affects over 25% of all people living with diabetes and is responsible for an estimated 80% of the 70,000 amputation surgeries performed each year in the United States.
Following clinical studies, Bonbouton will be submitting the technology for FDA Class I Medical Device Clearance to partner with established diabetic shoe and insole companies to sell under major health insurances, including Medicare and Medicaid. In a small pilot study, podiatrists who work with Medicare patients expressed interest in the foot sensor technology for the purpose of obtaining merit-based reimbursements, through which the government rewards healthcare providers who demonstrate positive healthcare outcomes.
“We’re thrilled that Bonbouton is part of the 2019 Class,” says Mee-Jung Jang, Managing Director at Techstars. “Bonbouton is uniquely positioned to benefit from Techstars' network and mentorship, while gaining invaluable knowledge from MetLife on bringing their product to insurance companies."
The MetLife accelerator program focuses on three distinct phases: 1) mentor engagement and feedback, 2) execution and rapid iteration, and 3) preparation for fundraising and demo day. As an accepted startup, Bonbouton along with the eight other companies will receive a $120K investment, access to 300 perks values at over $1M+, and connections to invaluable mentors and peers to help move the business the right way forward.
To learn more about the MetLife Digital Accelerator powered by Techstars, visit: https://www.techstars.com/metlife-program/
Techstars is the worldwide network that helps entrepreneurs succeed. Techstars founders connect with other entrepreneurs, experts, mentors, alumni, investors, community leaders, and corporations to grow their companies. Techstars operates three divisions: Techstars Startup Programs, Techstars Mentorship-Driven Accelerator Programs, and Techstars Corporate Innovation Partnerships. Techstars accelerator portfolio includes more than 1,700 companies with a market cap of $22 Billion. www.techstars.com
MetLife, Inc. (NYSE: MET), through its subsidiaries and affiliates ("MetLife"), is one of the world's leading financial services companies, providing insurance, annuities, employee benefits and asset management to help its individual and institutional customers navigate their changing world. Founded in 1868, MetLife has operations in more than 40 countries and holds leading market positions in the United States, Japan, Latin America, Asia, Europe and the Middle East. For more information, visit www.metlife.com.
Bonbouton is a technology company that ensures people stay healthy and puts the power back into their hands (and feet). The Bonbouton smart insole and mobile application companion detects early signs of foot ulcers before they form so people living with diabetes can access preventative healthcare and confidently manage their health. It’s comfortable to wear, simple to use, and can help prevent the approximately 200 amputations that occur in the United States daily, which costs our healthcare system $15B per annum.