Pete Ellis launches fund for health and wellness businesses
SpaFinder chief executive Pete Ellis has launched a New York-based company to help fund and develop wellness technology start-ups. This business incubator is called WellTech and will be run in collaboration with SpaFinder's cloud-based business management software company GramercyOne. WellTech will target start-up businesses that specialise in health, wellness and spa technology solutions and provide them with strategic guidance including industry expertise and networking, office space, mentoring and marketing support. The participants will receive a minimum bursary of $50,000 (£31,500) in capital to help grow their business and will also have access to future capital from WellTech and other investors if their business continues to generate interest from consumers. The companies will also receive exposure to wellness consumers and business via SpaFinder.com and business-to-business and business-to-consumer database marketing. Two start-up business have currently been selected, including Fitist, which focuses on boutique fitness with the aim to reinvent the traditional gym membership, and Wizpert, a company that offers users access to experts in nutrition, exercise, cooking and pampering. Ellis said: 'The phenomenal success of SpaFinder and GramercyOne showed us that technology holds enormous potential for helping people lead healthier lives?New York City is home to some of the most creative innovators in both technology and wellness sectors, and we look forward to working with them to take wellness services to an exciting new level.'