Gympact: Incentivizes exercise with cash and prizes

As the New Year is upon us, it is estimated that 88% of the people who set goals will not fulfill them. In fact, 40% will not make it past the first 30 days. At the top of the list for resolutions is health and fitness related goals. This year, Gympact, a startup based out of Santiago, Chile wants to incentivize and socialize your exercise experience with their clever new program which launches on January 1, 2012.

Founded by Boston, Massachusetts native and Harvard University alumni, Yifan Zhang, GymPact, is a social enterprise that makes regular exercise easier with attendance monitoring, fitness deals, group challenges and monetary incentives (pay if you don’t go!) Yup, you read that right.

How does Gympact’s program work?

You commit to a schedule that you can exercise every week and put a monetary stake towards it. Check in from your iPhone every time you go to the gym (or pre-determined exercise facility). If you fail to go, then the money for all the people who didn’t stick with their goals go to the people who did stick with their goals and attended the gym during their regularly scheduled times. How funny is that?

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Connect with Gympact

Facebook / Twitter / Blog

Take the Gympact Challenge!

Join the Gympact team on January 1, 2012 from 7-9 pm for a virtual Twitter launch party.
Prizes will be awarded every 15 minutes.

Register on Facebook or Join the action via Tweet Chat (Twitter hashtag #gympact)