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Summary

London-based startup incentifi has raised €174k in pre-seed funding to pilot its wellness-oriented workplace rewards platform. The platform aims to reduce the UK's £150 billion economic cost of poor health by incentivizing healthier behaviors in employees. James Hardy joins as an advisor, bringing experience from high-growth companies. The pilot will test the concept with businesses like Specsavers, focusing on linking wellness with tangible lifestyle benefits. A further £500,000 funding round is planned to expand the platform.
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Full Article (AI)

Incentifi, a London-based startup focused on enhancing workplace well-being, has recently secured €174k (£150k) in pre-seed funding. This investment marks a critical step as the company prepares to pilot its innovative rewards platform across UK businesses. With the appointment of James Hardy as an investor and strategic advisor, Incentifi is well-positioned to address the significant £150 billion annual cost to the UK economy attributed to poor health, absenteeism, and reduced productivity. James Hardy, known for his experience with high-growth consumer businesses like Deliveroo and Bioniq, expressed enthusiasm about the startup's potential: "Incentifi is built around improving healthier lives while delivering a clear return for employers and partners." His insight into aligning well-being with business objectives underscores the potential impact Incentifi can have on both employees and employers. The pre-seed funding will facilitate a pilot program with businesses from various sectors, including independently run Specsavers branches. This initiative will explore how incentivizing healthier habits can enhance staff well-being and offer tangible lifestyle benefits, such as reduced holiday costs. With a successful phase one funding round, Incentifi is now gearing up for a £500,000 funding raise. This next phase will coincide with a closed pilot and soft launch, focusing on learning, iteration, and gathering feedback from employers to refine their approach. Co-founder Paul Kelbie emphasized the company's mission: "To incentivize people to prioritize healthier choices through rewards they actually want." By rewarding everyday activities, Incentifi aims to help employees move more, feel better, and ultimately support healthier, more productive teams. In the context of rising stress and absenteeism in the UK workforce, Incentifi's platform presents a unique opportunity to align individual well-being with measurable commercial outcomes. By fostering a culture of health and productivity, Incentifi stands out as a promising solution in the business landscape.
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Business Impact

The integration of wellness into workplace rewards addresses critical productivity issues in European SMBs. By incentivizing health, businesses can reduce absenteeism and enhance employee satisfaction, directly influencing operational efficiency and profitability.
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Interesting Facts

  • Incentifi claims poor health costs the UK economy £150 billion annually.
  • James Hardy has experience with high-growth companies like Deliveroo.
  • Specsavers branches are involved in the pilot to explore staff wellbeing rewards.
  • The platform rewards daily activities like steps and exercise with lifestyle benefits.
  • Incentifi plans a future funding round with SEIS assurance.
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Business Opportunities

European SMBs can leverage wellness-focused platforms like incentifi to foster a healthier workforce. This can lead to reduced healthcare costs and increased employee engagement, driving overall business growth.
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LAZYSOFT Recommendations

LAZYSOFT should explore automating wellness reward tracking and integration processes, enhancing user experience. Developing partnerships with platforms like incentifi could expand LAZYSOFT's service offerings in the employee engagement sector.