January 15, 2016

Seecure

Total # of interviews: 50

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People do not have ‘peace of mind’ with respect to their security

ProblemThese habits are inadequate and have negative consequences on:

• Savings: relying on car services rather than public transportation

• Health: avoiding jogging at night

• Time: lengthening commute by taking better lit routes

• Livelihood: realtors avoid holding open houses in higher risk neighborhoods

• Overall Wellbeing: avoiding desirable activities for fears of safety

Lastly, these habits are ineffective in protecting people from security risks

Security is of great importance to society.

We avoid risk and invest in security solutions to achieve ‘peace of mind’.

However, we do not attain this ‘peace of mind’ for three reasons

1) Security guards are not present everywhere

2) When guards are present, one questions their trustworthiness

3) Human intuition has its limitations

Our personalized approach to security enables people to live their lives confidently. Whenever they feel unsafe, they can have the people they trust the most looking after them

These limitations prompt the rise of personalized security solutions.

Personalized security solutions like GPS applications are ineffective in mitigating security risks

Consequence

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• Customer creates an event via iPhone or Android application and designates a Virtual Keeper (VK)

• The VK logs onto the application and observes 360 degrees of video around the customer

• VK and customer receive information regarding crime rates in area• If the VK identifies a critical security risk, the VK activates a siren to deter the

assailant • Algorithm will notify VK and customer of impending security risks• Video, audio, timestamp and GPS information is stored in cloud database

• Customer wears two to three small pins. Each pin has an 8 millimeter camera, camera sensor, Bluetooth/WiFi chip, and battery

• Each camera streams video, audio and orientation information (from G-sensor) to the phone using WiFi connection from camera to HotSpot on the phone

Hardware

Software

The product consists of• 360 degree view provided by wearable cameras• Virtual keeper• Algorithm to predict security risk• Remote siren on application

If people are not distracted by security fears, they will achieve gains in savings, time, career, health, and safety.

Seecure will alleviate security fears and empower customers to live confidently

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Customer receives automated

notification that someone is

approaching quickly

Customer creates a security event on their

smartphone and selects virtual keeper

VK logs in on application

VK observes 360 degree view as

customer enters parking lot

VK triggers siren on customer and blinking

light

END

Customer enters parking lot

Assailant approaches customer as customer nears car

VK contacts authorities with details of attack

Customer attaches pin to front of shirt and pin to back of shirt and activates

both pins

Customer prepares to enter parking lot after work

Customer Virtual Keeper

START

Customer enters parking lot at night with Seecure

- 5 -

Core premises remain the same

Core Premises

1) People value security algorithm

2) People have adopted painful habits to mitigate security risk

Approach

1) Security algorithm- 1 year of video required for algorithm to

be operational

- Initial adopters need to provide video

- Prospective customers were asked about product without mentioning algorithm

- Interest in product significantly declined without mentioning algorithm

2) Pain points

- Probed habits to mitigate security risks

- Determined habits negatively affect time, money, and overall wellbeing

However, we needed to- Narrow security conscious women customer segment- Solidify value proposition for segment- Identify optimal sales channels- Prepare get strategy

Goals

Value Propositions Customer Relationships Customer SegmentsKey Activities

Key Partners

Key Resources

Channels

Cost Structure Revenue Streams

Day 1

Suppliers such as Qualcomm, Sony, Freescale, DH Gate.

ManufacturerTBD

DistributorTBD

Customer ServiceTBD

SalesUniversitiesReal Estate AgenciesLaw Enforcement

Manufacturing

Distribution & Fulfillment

Customer Relationships

Algorithm Development

ProductBluetooth / Wi-Fi chip; Image sensor; Controller; Camera

OperationsDistribution / Fulfillment capacity

MarketingExisting customers

TalentAlgorithm development

Women confront risk of sexual assault in daily routine- Inconvenient, time-

consuming, and ineffective habits

- Dissatisfied with current security solutions

Seecure empowers women with wearable camera and predictive analytics- Customer attaches a

wearable camera to clothes

- Designates a friend via on smartphone to monitor 360 degrees of video footage

- Friend can counsel the customer, contact the authorities, or trigger a siren

- Algorithm notifies the customer of impending security risks

MVP will include 360 degree camera, virtual keeper, remote alarm, and cloud storage.

Direct Materials from Suppliers

Direct Labor from Manufacturer

Direct Labor from In-Sourced Team

SG&A

R&D

Hardware for $200 at point of sale

Monthly subscription for $9.99

Licensing of algorithm

Customer growth through:- Geographic expansion- Secondary applications- Influencer endorsements- Social Media- B2B sales

Crowdfunding

Influencer endorsements

Social Media

Targeted blogs

Outside sales

Customer acquisition costs are $18.50 B2B

- Law Enforcement- Military- Real Estate Agencies

B2C- Security Conscious- Women- Female joggers- Seniors with cognitive

impairment- Special needs children- Children aged 6-12- Travelers

Target- Age: 25 to 54- Income: >$30K /

household- Phone:

iPhone/Android- Residence:

metropolitan- Behavior: call loved

ones when they feel unsafe

Our intention from the beginning was to only focus on security-conscious women. As a result, we omitted these potential future segments from the canvas.

The Algorithm – key element of the value proposition from the

beginning

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7

Day 1 Day 5

• Focused on 1 subgroup—security conscious female professionals as customer segment

• Solidified value proposition in absence of algorithm

- Algorithm requires 1 year of video footage and is not factored into initial purchases

• Assessed features that customers prize most

• Identified most effective sales channels given new market

• Mapped out purchasing funnel

• Struggled to identify characteristics that delineate security conscious women

• Failed to generate any orders for product

• Exploring pivot to other customer segments based on customer feedback

- Joggers

- Law Enforcement

• Incorporated the algorithm in the Value Proposition

• Identified security conscious women as customer segment with 4 subgroups

- Joggers

- Students

- Professionals

- Real Estate Agents

Summary of progress by day

1 2- 4 5

Value Propositions Customer Relationships Customer SegmentsKey ActivitiesKey Partners

Key Resources

Channels

Cost Structure Revenue Streams

Suppliers such as Qualcomm, Sony, Freescale, DH Gate.

ManufacturerTBD

FulfillmentAmazon

Customer ServiceTBD

SalesUniversitiesReal Estate Agencies

Manufacturing

Distribution & Fulfillment

Customer Relationships

ProductBluetooth / Wi-Fi chip; Image sensor; Controller; Camera

OperationsDistribution / Fulfillment capacity

Sales & MarketingExisting customers

Talent

Women have developed inconvenient habits to mitigate the risk of assault in their daily lives.

Seecure provides women with ‘peace of mind’ by having the people they trust the most to look after them.

The MVP consists of a wearable camera, deterrent, and a software application.

Hardware for $200 at point of sale

Monthly subscription for $9.99

Dedicated e-commerce

Google Play Store / Apple App Store

Direct Sales to Prof. Service Organization

Direct Sales to Airport/Train Station Electronics Retailers

Security ConsciousWomen Professionals

Archetype- Age: 25 to 54- Income: >$30K /

household- iPhone/Android- Behavior: call loved

ones when they feel unsafe

- Situational: jogging at night, walking home from work

- Biggest fear: sexual assault

Business Model Days 2 to 4

Variable- Direct Material- Direct Labor

Overhead- Customer service- Cloud Hosting- Cloud Operation- SG&A- R&DCAC

GetCrowdfundingAirport Retailer SupportProf. Firms SupportKey Influencers

KeepBlogsPromotions

GrowVirtual Keepers provide viral loop by expanding community

Identified 4 sales channels. Received

positive feedback from Airport Electronic Store

Failed on the Willingness to Purchase

Test: less than 20% would purchase the

product.

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JobsPains

Gains

• Inconvenience to yourself and others

- Calls friends and family when feeling unsafe

- Messages family and friends upon arrival

- Shares GPS location with family and friends

- Requests escorts to your vehicle

• Dependence: inability to do what you wish

• Fear: physical and emotional pains of assault

Pains

Gains• Time

- Removes need to call family and/or friends when feeling unsafe

- Retrieving car in parking lot• Independence: users can do what they wish• Assault prevention: deter attacks effectively• Peace of mind: reduces anxiety of user and family

Jobs• Ability to proceed in day

without distractions of fear• Reducing time spent on

security precautions• Deterring potential assault

Customer Map for Professional Women

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GainCreators

• Inconvenience to you and others:

- Removes need to call family when you feel unsafe

- Removes need to message family/friends upon arrival

- Removes need to share GPS location with family/friends

- Removes need for escorts to vehicles

• Fear: alleviates anxiety of you and others

• Peace of Mind: increased confidence in daily routine

• Assault prevention: reduces likelihood of assault

• Virtual Keeper• Remote Alarm• Panic button• 360 degree camera• Cloud storage• Crime analytics

Pain Relievers

GainCreators

Product

Value Map for Professional Women

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11

Pain Relievers• Cost • Inconvenience• Fear

Gain Creators• Assault prevention• Peace of mind

Products and Services• Virtual Keeper• Remote Alarm• Panic button• 360 degree camera• Cloud storage

Pains• Cost• Inconvenience• Fear

• Dependence

Gains• Time• Independence• Assault prevention• Peace of Mind

Jobs• Ability to proceed in day without

distractions of fear• Feeling confident throughout day• Ability to deter attacks

Value Proposition Customer Segments

• Seecure is geared to alleviate the inconveniences of calling family and/or friends when you feel unsafe and quell the fears of assault

• Seecure is geared to providing customers with peace of mind and preventing assaults

InconvenienceFear

Assault Prevention

Peace of Mind

Value Proposition Canvas for Professional Women

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• Age: 25 to 54• Employed: yes• Income: >$60K / household• Phone: iPhone/Android• Residence: metropolitan• Behavior: call loved ones when they feel

unsafe• Routine Situation: walking home from

work• Fear: sexual assault

Customer Archetype

• Age: 25 to 54• Employed: yes• Income: >$60K / household• Phone: iPhone/Android• Residence: suburban• Behavior: call loved ones when they feel

unsafe• Routine Situation: retrieving car from parking

lot• Fear: sexual assault

JenniferTiffany

- 13 -

Sales Strategy

Web Dedicated e-commerce on proprietary website

Platform app store for Apple and Android

PhysicalDirect sales to airport and train station electronics retailers

PhysicalDirect sales to professional service organizations

Web

• Wearable security cameras are a new market

- If consumers are not actively searching, 2-step distribution is unnecessary

• Direct sales to airport / train stations electronics retailers will target travelling professional women

- Target customers feel unsafe in unfamiliar locations

• Direct sales to professional service organizations will target professional women working late

- Target customers cannot leave work at desired time

- Target customers feel unsafe walking home late at night when it is dark

Channels Considerations

Revenue will be derived from sale of camera at $200 and monthly subscription fee at $9.99

Sales will be derived from 4 channels. Our competitors utilize similar channels (dedicated e-commerce, application store, direct sales to real estate agents, and direct sales to nursing on demand services)

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Get Strategy

Awareness

Interest

Consideration

Purchase

• Crowdfunding: 60 day IndieGogo campaign

• Retailer Support: support staff at airport/train station electronics retailers

• Human Resources: discussions with professional service organization HRs

• Influencers: video endorsements from prominent women professionals

Awareness

• Similar Users Targeting: remarketing campaigns for visitors to site and viewers of IndieGogo / influencer videos

• Retailer Demonstrations: support staff demonstrate video at stand in airport/train stations electronics retailers

• Company Communications: HR releases survey to staff gauging interest

Interest

• Retailer Trial: 14 day free trial for airport / train station retailers

• Professional Service Trial: 14 day free trial for professional service organization HR departments

Consideration

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Hypothesis Testing Results

Parameter Hypothesis Results Analysis

Value PropositionSecurity conscious women will prioritize virtual keeper and remote alarm as most important features

Fail; Panic button is thus far most important feature

1) Numerous panic buttons exist in marketplace. Seecure fails to achieve competitive advantage.

2) Absence of algorithm undermines customers’ interest in product

Customer Segment

Security conscious women have pains with respect to mitigating security risks

Pass - Over 50% call their

loved ones when they feel unsafe

- Over 50% share their GPS location

- Over 70% message family and friends upon arrival

1) Customer acknowledged these habits as inconvenient

2) Pains exist with respect to time, money, fear and general wellbeing

Value PropositionSecurity conscious women will see Seecure as alleviating pains associated with mitigating security risks

Fail - Over 50% of customers

acknowledged habits as inconvenient but reasonably effective

1) Pains exist for customers2) Seecure is not an effective pain

reliever for many3) Those who would use Seecure

mostly see it as relieving anxieties instead of effectively deterring assaults

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Hypothesis Testing Results

Parameter Hypothesis Results Analysis

Get Strategy Wearable security cameras are a new market

Pass; customers were unfamiliar with the use of wearable cameras to deter security risks

1) Competitors have not gained market share

2) Prospective customers are unfamiliar with algorithm

3) Limit sales channels4) Reduce customer acquisition costs

RevenueCustomers are willing to pay $200 for hardware and $9.99/month for subscription

Fail; 0 would purchase product

1) Price is elastic with respect to security but interviewees guage price poorly

Sales ChannelAirport/Train Station electronics retailers would be effective channel

Pass; manager at airport electronics retailer indicated interest but suggested demo is required

1) New market suggests that prospective customers need to be guided in product’s application

2) Support staff at retailer is required

• Challenging to discern ‘security conscious professional women’; market may be too small• New York City may not be good market for ‘security conscious professional women’, as people

feel relatively safe • PR and customer backlash may emerge if incidents occur while using the product• Many interviewees refused to use product but indicated they would use product in other

applications (e.g. elderly parents, children aged 6-12, etc)• Algorithm is most valuable feature• Customer discovery feedback suggests we should pivot to other customer segments; we will

explore joggers and law enforcement in separate iterations

Lessons Learned