THE MODEL: A micro-structured
paper label combined with app to enable businesses to check on counterfeiting
of their products. The startups provides paper labels to businesses which the
latter need to paste on an product. A customer, with the help of the app, can
check the authenticity of the product and also the date when it was manufactured.
STARTUP: Cypheme
(Hong Kong startup)
WHAT I LIKE
Core Idea – A
label combined with an app to check counterfeiting.
Addressing a Big
Problem – Counterfeiting is an enormous problem for businesses all over the
world. According to FBI, Interpol, World Customs Organization and International
Chamber of Commerce estimates, roughly 7-8% of world trade every year is in
counterfeit goods. This presents a big opportunity for the startup.
Ease of Use – The
startup simply uses a micro-structured label, which a business has to attach to
a product, and a machine based recognition app, which dealers/customers can use
to read the label. No additional hardware or investment is required is a
business wants to avail the service.
Safety & Reach –
Having an app ensures that this system is safe and fool proof. Also it makes
the service available to wider customer audience, thus making the solution more
desirable for a business.
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