By LEAPIN
A presentation by Steve Dunn CEO and Co-FounderLevel 2, 194 Varsity Parade, Gold Coast, Australia
Less expensive – Up to 1/10th of the Price
More secure – OTP Banking encryption/NFC
More convenient – smartphone enabled
Make any lock smart
Value Proposition
Cloud Algorithms/OTP Essentially billions of pre-programmed codes exist
for any future date and time combination
Web-based softwareDownload access codes to software by Property Managers/ owners
Mobile OperatorEnd Users can interact with Software
Interfaces to legacy software
Digital Keys AppEnd Users download time-sensitiveAccess codes into smartphone app
NFC on smartphoneAccess codes sent to lock via NFC
HardwareThe hardware has a memory, real-time clock, and same algorithms in cloud. When code is presented at the lock, it looks up the time and checks if the corresponding code is correct, and then if it is it unlocks.
Unique Proposition
IP + = $ to
Lock Manufacturers
Start-ups With
Smarthome kitsGovernments
Business Model - Licencing
Telcos and Utility companies with smart home kits
Companies wanting smartlocks in bulk
1.• Approach potential partners through existing
connections and tradeshows
2.• Negotiate licencing agreement
3.
• Deliver smartlock development kit (SDK, API, Hardware tech specs, etc)
• Collect monthly royalties
Go to Market Plan
Company Smartlock status (Apr 2015)
Smart home kit status
Technology/ hardware design/partners
30,000 units sales a month Yes, many including Verizon
Wi-Fi/BluetoothTraditional Knobset
650,000 to be installed by end of 2016
NA. To be announced
30,000 to be installed in 2015, 300,000 to follow
NA Assa Abloy/Wi-fi/Bluetooth/Apple
Raised $38 million in Mar 15 Yes Apple, deadbolt attachment/wi-fiOTP?
None Yes, no smartlocks Nothing
Available in smart home kit Yes, 1 smartlock Assa Abloy
Competitive Analysis
Steve DunnChief Executive
Former Asset Manager
Local Govt.
MBA. BA (Town
Planning)
Sam FaulknerChief Technology
Officer
IT professional
Ba Comp Sc.
Greg SiegelePrincipal / Lead
Investor
Frmr CEO/Co-founder of Ratbag Games
Tech start up – 100 employees to $7
million sale to Midway Games
CEO CTO P
Management Team
John HossliIndustry
Frmr CEO/President of Hafele America (13
years)
$1Bill Building product supply company incl.
lock manufacturer
Al PappasTravel / Software
Frmr CIO Adobe, Frmr
CIO Hotwire (acquired
by Expedia)
Experienced IT leader
Dr. Jana MatthewsManagement / LEAPIN
Investor
Thought leader, Author, Snr Fellow Kauffman Foundation
PhD (Harvard) Management and Planning
Advisory Board
0500,000
1,000,0001,500,0002,000,0002,500,0003,000,0003,500,0004,000,0004,500,0005,000,000
2015 2016 2017
Revenues
Expenses
Net Income
Cash
Current signed
licencingdeals
1-2 more signed
licencingdeals
2 large licencing deals e.gwith International Telcosand/or one large order
from top ten hotel chain
Financial Projections
Present
Government Grants and Licencing sign on fee
$50,000
May 2015
Capital Investment $500,000
Business Development Manager (Salary)
($120,000)
Head of IT Development (Salary) ($90,000)
Legal Documentation/advice for licencing deals
($30,000)
Software Security review and testing
($40,000)
Existing Patent portfolio fees ($30,000)
New patent applications fees ($10,000)
Independent contractors software/app development
($60,000)
R&D work on new products ($40,000)
Travel ($30,000)
Office expenses ($20,000)
Admin/Miscellaneous ($20,000)
TOTALS $500,000.00
Use of Funds
a Prove technology works in real lifeenvironment/ build prototypes
a Demonstrate NFC functionalities andsmartphone opening.
a Design PCB and embedded software,complete source code, API’s and SDK’sand documentation
a Sign licencing deals with LockManufacturers
May 2015 Testing and third party validation
May 2015 Deliver Smartlock development kit to 2lock manufacturers (under signedlicencing deals)
July
2015
Launch products with partners,
August2015 -ongoing
Collect royalty cheques, and sign morelicencing deals.
Timeline
Current Status/Use of Funds
Top Related