Creating Business Opportunities Pitch Deck

Atikur Bhuiyan

1. Introduction 

1.1 Problem 

With the theft, robber, rape, violence, terrorism and other public safety incidents becoming more and more, security issues are always at the forefront of our increasingly sophisticated society. The rapid development of technology, with diversified and advanced equipment, increasingly contributes to the protection of the people. Under this current situation, to fit with the advanced digital age and technological improvement, our company SMARTO is aiming at protecting the safety of people’s lives and other legal rights, maintaining social security order and striking crimes. With this smart glass, social security guards like the police, the military or the secret agents will be able to quickly detect crimes, as well as the dangerous things such as weapon, flammable and explosive. In order to protect the people in urgent situations, developing the most technologically advanced equipment that support social security is essential. 

1.2 Research Objectives 

    As technological innovations make our life better and easier, smart glasses are a kind of Optical Head Mounted Displays (OHMD) that coordinates a camera and a show in an exceptionally decreased frame factor, enabling them to be wearable over a glass type object. Among the proposed utilizes for smart glasses are reading real-time notifications and visual guidelines, instant connectivity access, moment photography or video catching and augmented reality. 

    The aim of the project is to use facial recognition technology with the help of government database to identify suspect or wanted within seconds. The facial recognition glasses are aimed to assist polices, anti-terrorist force and other security staffs to find out suspicious people in order to keep our society in a safety way. People are facing problems that they are not safe enough because of increasing terrorist activities and crime rate. It’s the product only made for governmental organizations and our company have to follow the certain privacy terms and regulations in target location.  

1.3 Research Method 

   Interviews and questionnaires were distributed for the purpose of letting us know what people especially the policemen thought about our product, how acceptability amongst our customer segmentations and which degree of willingness of using it to ensure public safety.  

2. Market Research 

    Last year Pokemon Go got us comfortable with the surreal idea that wherever we go there exists an unseen realm and an alternate dimension. This world of “augmented/virtual reality” is set to grow exponentially with the broader adoption of smart glasses that overlay our physical world with a digital one. ABI Research figures that the market for wearable computing like smart glasses will grow from $10.5 billion last year to $55 billion in 2022 as unit volumes explode from about 6 million last year to 50 million (Helman, 2017). 

    The biggest competitors of our Smarto glasses are Google glass but they are not facial recognition glasses and discontinued. Therefore, we strongly believe that facial recognition glasses idea will become the mainstream in the future and we estimate that it will be on the market within the next 5 years. Then, SMARTO have an opportunity to be a leading company by adopting this technology into business plan. Additionally, as it seems like a traditional glass with lots of functioning programme, polices will use it in a more convenient and portable way when catching the criminals.  

      With access to the Dutch market at early stage as a test case, we also have to study policy issues in this market, such as privacy policy. The initial testing area will be in Groningen with the help of 5Groningen company, then the main markets in the Netherlands will be Amsterdam, Rotterdam, and Den Hague, which have the highest crime rates in the country. Then it will expand into the whole EU and other potential markets such as the UK, USA, Spain, Germany, and China, which countries may need more police support equipment.  

3. Prototype:  

Figure 1: Smarto glasses prototype 

Figure 1 above shows the prototype of our glasses, by the help of 5G technology, the main features of this product are: face recognition with wanted or suspect, matching the photos from governmental database, VR/AR imaging when receive signal and checking map, voice control, live connection through several department and audio/video recording when needed.  

Figure 2: Smarto glasses workflow 

Figure 2 above shows the glasses work flow, which means how it works when using it. When the glasses help its user to recognise a suspect or wanted, it will immediately send the signal to our cloud database, by the way, the database is offered by government. Then it will analyse the signal automatically and send it to police station and also hospital just in case that someone get injured. In some urgent cases, the user can do some basic treatment by the remote help of doctor in the hospital through Smarto glasses. 

The user also can communicate with his or her colleagues to find more people to help them. In addition, when police station receives the signal, based on the situation of incidents, they can also connect with firefighting department and the security control department such as Veiligheidsregio in Groningen. CCTV is also connected with the glasses, if suspect escaped, the CCTV nearby will help for catching them. If large scale terrorist attack happens, some security control department will receive a signal and warning local people. 

By the rapid data transmission based on 5G technology, the incidents will be prevented in early stage and save time and money at the same time. 

Figure 3: An example image in glasses when it recognises a wanted 

When the glasses help the user, whatever police, anti-terrorist force or security staff, to recognize suspect or dangerous thing in crowd, the glasses will show an image like this to notify the target objectives.  

So the product will be the best equipment that can fit in the densely populated place, for example, the airport, train station, subway, and some important festivals like King’s day, and some activities such as parade. Under these situations, the more people the more dangerous, those are the place with high incidents rate. 

4. Business Models  

(See the whole business model Canvas in Appendix A) 

For the customer segments, some of our key partners are also our customers. In order to ensure the database is safety and updated, our company will only focus on the governmental organization. We even expect that government can occupy certain percent of our stock rights, which will build close and long-term cooperation to protect the data privacy. 

We offered several product features in value proposition, including: Information speedy and security deliver; Flammable and explosive detection; Live connection (with other police, police station, CCTV and hospital, firefighting system etc.); Face recognition when finding wanted or suspect; VR-AR imaging when checking map or CCTV; Voice control; Multi department linkage; Check injury status (with remote help by doctors); High visibility (in dark and long distance situation); Recording in both audio/video format. After our customer research, our users picked the top four features they most interested in. 

5. Unique selling point: 

    As we are one of the pioneers in this field, our Smarto glasses are not just normal glasses on the market. By applying the most advanced 5G technology, our USP is: 

– High security, flexibility and efficiency 

6. Team/Partner 

    Our team is very diverse in terms of culture, language, and background. We come from many different cultures, namely: China, Vietnam, Morocco and Bangladesh. With a variety of insights and close cooperation, we are confident that we will bring the best products with the high applicability in many different areas. 

   Our Smarto partners include three aspects: production, development and business partners. Production partners include manufacturers in Europe and China. We have special partnerships with research organizations and technology companies to develop the special features of the products. Of course, we also have to work with large 5G mobile communication operators like Kpn and Vodafone to support our signal connection by the much higher data rate of 5G. For the development partner, we need some technical company such as 5Groningen to support our research and development and to ensure our system could be operated smoothly. For business partners, we promote product awareness of our partners from governmental organizations, such as police station, hospital, firefighting department and security control department. Combined with those organizations, our system will be linked and get together to prevent criminal behaviour. 

7. Customer Research  

As our products do not face the public, take the narrow customer segments into consideration, the total number of interviewees was 20, which all are police officers in Groningen (see the whole questionnaires and statistics in Appendix B). 

The research shows that the majority of interviewees are interested in this kind of product and will introduce to their police station. Although none of them had the opportunity to experience the similar product before, most police have heard of smart glasses by the science-fiction film or news. And all the participants are very care about the convenience of the smart glasses, the same as its features. 

For the problem that which feature they have the most interested in, the result shows that customers pay huge attention to the top 4 features: Face recognition; Live connection with other polices, police stations and CCTV; Flammable and explosive detection (including weapon and other dangerous things); Security and Durability. For the concern of user security, which means strangers have no access to use it, Smarto will also use face recognition to match one user with one glass. 

Take the privacy problem into consideration, more than half person thought that it’s legal and acceptable. But there still 9 people assumed it has ethical problem. For whom will be the user, most interviewee support police and army can use it. 

8. Legislation  

The Dutch police identified 93 suspects using facial recognition system Catch last year (Pieters, 2018). The Catch system was launched in 2016 with 800 thousand photos in database. According to NLtimes, with this system, photos of suspects are compared with photos on this database of convicted criminals or suspects in other crimes. In addition, according to Scully (2017), Schiphol airport is already use face recognition during a “biometric boarding” trial. Passengers will be given the option to board quickly and easily using a separate gate that identifies them using face recognition. Those two cases showed some existing examples of using this technology and database. And our customer research also show the acceptability is high among people. 

The Schengen Information System (SIS) is the most widely used information-sharing instrument today. Competent national authorities can use it to consult alerts on wanted or missing persons and objects, both inside the EU and at the external border (European Commission, 2015). In April 2016, a new reform of data protection policy was adopted, namely Data Protection Police Directive (Jourová, 2016). The exchange of such data is essential in the fight against terrorism and cross border crime. Under the new Directive, everyone’s personal data must be processed lawfully, fairly, and only for a specific purpose, a purpose that is always linked to the fight against crime. Setting EU-wide rules related to personal data protection in the field of criminal justice will make cooperation easier for the police and criminal justice authorities across the EU. Under the General Data Protection Regulation and new directives, a third party organization has the chance to use the database. Finally, in the case of Uzun v. Germany in 2010, the EU Court noted, it had pursued the legitimate aims of protecting national security, public safety and the rights of the victims, and of preventing crime, the right to respect for privacy is under the security problem (EU Court of Human Rights, 2018). 

9. Financial forecasts: 

1. Price of competitors’ product: 

ODG’s R-8 glasses: 1000 USD 

ODG’s R-9 glasses: 3500 USD 

Vuzix M300 : 1249 USD 

Vuzix M100 Smart Glasses: 803 USD (amazon) 

Epson Moverio BT-300 : 719 USD 

Sony SmartEyeGlass: 699 USD 

Recon Smart Glass Price and Specs : 699 USD 

Amazon Alexa: 1000 USD 

Vuzix Blade AR : 1100 – 1800 USD 

ODG R7 AR/R8 and R9 : 1900-3500 usd 

     Make comparison with other types of smart glasses today. From leisure, to military and security guards using, these types of smart glasses may have fewer features than the Smarto glasses, but the price also depending on the customer and the intended use of the product. It can be seen that the prices of competitors’ products vary from 600 to more than 3000 USD. So the price really depends on the features of the glass. Along with that is dependent on the customer, our customer is organizations, which means buy in bulk. In addition, our products will be different for different governmental customers, as the requirement from police to force is different. Combined with the features and customised for different groups, Smarto offers the average price for about $ 1000 per. 

2. Revenue Forecast: 

    According to Police and Safety Regions Department, at the end of 2007, the total strength of the Dutch police was 54,700 FTEs, consisting of 35,400 fully qualified police officers, some 6,000 trainees (who count only partially in the total calculation), and 16,600 administrative and technical officers. Women accounted for some 34% of the total strength. 

   The Dutch police service is divided into 25 regional forces and the National Police Services Agency (KLPD), which has various specialist and support departments. The size and character of regional police forces vary according to factors like population size, crime levels and urbanisation. The largest force, in a mainly urban area with over 900,000 inhabitants, has over 6,000 staff. That amounts to one police officer for every 150 inhabitants. 

• Revenue for 3 biggest cities in Netherlands (Amsterdam, Rotterdam, and Den Hague) 

Amsterdam: 813,562 inhabitants à police is around: 813,562/150 = 5543 polices 

Den Hague: 524,882 inhabitants à  police is around: 524,882/150 = 3500 polices 

Rotterdam: 994 000 inhabitants à police is around: 994 000/150 = 6626 polices 

Revenue = ( 5543 + 3500 + 6626 ) x 1000 usd = 15 669 000 usd  

• Revenue for the whole country:  

Revenue = 35 400 polices x 1000 usd = 35 400 000 usd 

10. Investment need: 

In the testing stage, we would need the investment at least 150 $ for each sunglass. We would need approximately 300 sunglasses, which would be a total of 150 x 300 = 45000 usd.  

In the launching stage (launching in Amsterdam, Rotterdam, Den Hague) from 2020, if 30% of staff willing to use our product, 15669 x 30% = 4700.7. In this case, the investment would be 4700 x 150 = 705,000 usd. If all the staff willing to use it, then the investment would be 15669 x 150 = 2,350,350 usd 

Furthermore we searched for places to rent in Groningen in order to be well organized and the costs of this will be a 395 $ per month. As planned we will sign a one year contract to first see how it goes as we are still a start-up business. The total cost yearly would be then; 395 $ x 12 = 4740 $. The picture down below shows the place that we are going to rent. 

For advertising we will hold an exhibition for the government and the police and military department. Since we want to keep this on the low and a secret, we will hire a bodyguard to stand at the door and check every ones ID and invitation. This bodyguard will cost us approximately 25 $ per hour. The event will take place from 18:00 till 00:00. That means that the bodyguard will work a 6 hour shift and the total cost would be 25 $ x 6 = 150 usd. Furthermore we need to make a hundred invitations that will cost us 100 usd. Also, there will be drinks and food provided and that will cost us 250 usd. The total budget spent on this event would be 500 usd. 

In testing stage, the total investment would be 50,740 dollars. 

In launching stage, the total investment would be 2,359,830 dollars. 

11. Milestones / step by step plan 

• 8/2017 – 8/2019: Research and development 
• 8/2019: Testing in Groningen, Netherlands 
• 6/2020: Launching in Amsterdam, Rotterdam, Den Hague 
• 6/2021: Entering Germany, Spain, UK 
• 1/2022: Entering China, USA 

• 6/2022: Worldwide 

12. Conclusion and recommendation  

To sum up, Creating Business Opportunities lecture was a phase for us where we participated our discoveries to create a creative business plan for SMARTO. Subsequently, it was a decent opportunity for us to utilize our hypothetical knowledge while at the same time practising. As a group, we came up with a thought of developing a facial recognition glasses which alludes to an advanced glass with lots of functioning programme and variable substance depending on the demand. It is called Smarto glass. The primary thought of this innovative item is giving polices the distinctive experience to catch the criminals. 

The advantages of this item are everything organised in one glass, the substance can be updated, it is ecological-friendly, and it gives customization facility. In addition, in light of our market search and survey, we figured out that the larger part of polices willing to utilize our smart glass. In this way, in the wake of considering the review comes about, we found an inspiration to present our thought. 

Last but not least, we are happy to give a pitch to 5G Groningen and other jury members, it was a pleasant experience for us to practice what we learnt and furthermore making another new idea increase our minds. In the group we had a friendly, understanding and equivalent way to deal with each other which made the procedure simpler and gentler. 

13. Reflection 

     Creating Business Opportunities gave us a chance to make our own business plan and take in another state of mind. Accordingly, the hypothesis is supported by training. Additionally, amid our group meetings, we had a chance to have a discussion in a group where there is cultural variety. In all honesty, our group contains individuals from Morocco, Vietnam, Bangladesh and china which helped us comprehend social contrasts and work in a group. We learnt how to impart our insights and how to listen to and regard the others’ opinions. In addition, we additionally faced the way that notwithstanding thinking about new thought appears not all that difficult in any case, it is quite hard to make something which does not exist since completing a statistical surveying and making sense of what client needs make the procedure more difficult. As we learnt in the class, enchantment happens when you go promote from your customary range of familiarity. In this way, it was a test for us to think in new business plan yet at last, we learnt a considerable lot from that.  

    Another aspect we learnt was that the thought should be clarified well since no one thinks about it before you clarify it. Hence, the best words ought to be picked as far as portraying a thought and it ought to likewise be supported by means of prototype.      

    Presumably we were not ready to communicate obviously amid the presentation since it is justifiable that everybody was under the pressure of timing and furthermore giving a pitch to the group of jury. We had basically a similar inclination when we did surveys, a large portion of our participants did not figure out what a smart glass would resemble. At that point, we had a lot of time to clarify it legitimately so toward the end they had a thought on their minds.  

    We trust that our new business plan if connected well has an ability of bringing new opportunities for organizations. In addition, the organization that initially prepare for this innovation will be the one that will produce more profit. 

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References  

EU Court of Human Rights. (2018). Personal data protection. [pdf] 

European Commission. (2015). COMMUNICATION FROM THE COMMISSION TO THE EUROPEAN PARLIAMENT, THE COUNCIL, THE EUROPEAN ECONOMIC AND SOCIAL COMMITTEE AND THE COMMITTEE OF THE REGIONS. [pdf]. Retrieved from https://ec.europa.eu/home-affairs/sites/homeaffairs/files/e-library/documents/basic-documents/docs/eu_agenda_on_security_en.pdf 

Greenemeier, L. The future of smart glasses. Scientific American, 309(1):21–21, 2013. 

Helman, C. (2017). Where’s The Market For $3,500, Ruggedized Smart Glasses? Retrieved from https://www.forbes.com/sites/christopherhelman/2017/06/01/wheres-the-market-for-3500-ruggedized-smart-glasses/#25bccf9b3505 

Jourová, V. (2016). How will the data protection reform help fight international crime? [pdf]. EU Justice and Consumers.  

Lamkin, P. (2018). The best augmented reality glasses 2018: Snap, Vuzix, ODG, Sony & more. Retrieved from  https://www.wareable.com/ar/the-best-smartglasses-google-glass-and-the-rest 

Pieters, J. (2018). DUTCH COPS USED FACIAL RECOGNITION TO ID 93 SUSPECTS. Retrieved from https://nltimes.nl/2018/02/20/dutch-cops-used-facial-recognition-93-suspects 

Scully, K. (2017). Quick and easy boarding: face recognition trial at Schiphol. Retrieved from https://www.iamexpat.nl/expat-info/dutch-expat-news/quick-and-easy-boarding-face-recognition-trial-schiphol 

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[Text Box][Text Box]Appendix A: Business Model Canvas 

Key Partners	Key Activities	Value Proposition	Customer Relationships	Customer Segments
Manufacture factory Technical organizations (5Goningen) Research institutions Mobile Communication Operators (Kpn/Vodafone) Veiligheidsregio Groningen Governmental organization (police station, military,  hospital, fire department, security company, etc) Partner organizations (airport, train station, subway, etc.)	Brand building  Customer relationship Technology support Update service Maintenance service	The value that will be offered to our target customers: Efficiency Flexibility Security  Our offered product features are the followings: Information speedy and security deliver Flammable and explosive detection Live connection (with other police, police station, CCTV and hospital, firefighting system etc.) Face recognition VR-AR imaging Voice control  Multi department linkage Check injury status (with remote help) Check map High visibility (in dark and long distance situation) Recording (audio/video)	Close cooperation Long-term	Police man Anti-terrorist force  Security staff (Airport & Train station, etc.) Governmental department
Key Resources	Channels
Patents Hardware equipment R & D Personnel Government policy support Server platform	Partner network Industrial exhibition
Cost Structure	Revenues Streams
R & D (research & development) Advertisement Rent Labor cost Management fees Hardware production Patent fees Security fees	Hardware sales Maintenance service Technology support VC (Venture Capital) Government funds

Appendix B Questionnaires 

• Question 1: Do you think we need a smart tool to support police? 

• Yes (15) 
• No (5) 

• Question 2: Have you ever use Smart Glass to catch criminal? 
• Yes (0) 

• No (20) = 100% 
• Question 3: Have ever seen the police wear the smart glass to catch criminal? 
• Yes (15) 
• No (05) 

• Question 4: What would be the first consideration of wearing smart glass? 
• Fashion (8) 
• Feature (20) 
• Convenience (20) 

• Question 5: Which of the following services do you want from Smart Glass?  
• Face recognition?   ( 20 ) 
• Communication with other polices and police station (nearby)? ( 20 ) 
• Check injury status for police and victims (status, instruction, etc)?  (13) 
• Connect directly to hospital (to the emergency department to get ambulance)?( 14) 

• Connect to CCTV nearby?  (18) 
• Check map? (12) 
• See in the dark?  (10) 
• Check the weapon from certain distance?  (19) 
• Recording?  (16) 

• Flammable and explosive detection? (12) 
• Security and Durability (20) 

• Question 6: What do you think about private law if the police can see all personal information from people? 
• It is illegal (0) 

• It is legal but unethical (9) 
• It is legal and normal, just for safety (11) 

• Question 7: What kind of people can use the smart glass?  
• All police, agent, army (9) 

• Police but high position (7) 
• High position police and secret agent (3) 
• High position police and secret agent and army (1) 

• Question 8: If possible, will you introduce to your police station this smart glass? 

• Yes (20) = 100% 
• No (0)