The company is said to be already in talks with potential licensing partners and will tackle the healthcare and sports markets.
The Smart Insole is expected to go on sale before Christmas for less than £200.
Either built into the shoe or placed in everyday’s footwear, the insole will connect with smart gadgets to give live monitoring status of the user’s condition. This monitoring is achieved via a network of small electronic sensors.
The technology will help people monitor the stresses and strains on their feet, especially useful for those who suffer from diabetes or who are professional athletes.