Startups To Watch In 2014 – Sense of Skin
In our series on the Best Startup Business 2014, we’re sharing details of great new ventures to keep an eye on this year and beyond.
Startups To Watch In 2014
Today we’re looking at a startup that is helping people who are suffering from an everyday problem.
If you want to see more great startups, click here: Best Startup Businesses.
Sense of Skin
When we looked into the painful world of skin irritants, here’s what we found just for the UK (these numbers are for the UK but they apply elsewhere around the world):
- 68% of the UK population suffer from sensitive skin.
- On average, women expose their skin to on average 168 unique chemicals every day.
- 44% of the total UK population experience skin reactions.
The number that took us by surprise was: £400 million. That’s the value of all the beauty and skin products that are thrown away in the UK by people because the product irritated their skin.
If you’ve been following our series on great new companies to watch, you’ll know that the key to a business’s success is having a clear solution to a common problem. Sense of Skin has achieved this by helping people choose skin and beauty products that won’t drive them crazy with skin irritations.
Solving skin irritation in a market as massive as the global beauty products industry makes this business worth following.
How Does It Work?
Imagine you use skin or beauty products and suffer from skin reactions or allergies. Sense of Skin begins by building a profile of your skin. As it learns about your triggers, it creates a detailed profile that will help you prevent reactions. When you’re next in a shop, you can use your personalised mobile phone app to scan the barcode on skin products and check if it will be ok to use on your skin.Very simple.
To make all this happen, Sense of Skin have built a proprietary platform which incorporates:
- A unique proﬁle-creating algorithm.
- An extensive personal care product database (21,000 chemicals and 12,000 products).
- A comprehensive skin trigger database (featuring hundreds of skin irritation triggers).
- Personalised, independent, scientiﬁc guidance provided to each customer via mobile.
According to Research and Markets, “The global skin care products industry revenue is forecast to reach an estimated $102.3 billion in 2018 with good growth over the next five years. Rising living standards and increased spending power are anticipated to drive demand for newer skin care products.”
We see Sense of Skin as being well positioned in the ever-expanding skin care products industry and wish them all the best!