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UATAG

UATAG

Ukraine, Lviv region
Market: Logistics and warehouses, Insurance, Trade, Another, Blockchain
Stage of the project: Prototype or product is ready

Date of last change: 13.07.2018
Min investment
$  100.000
1
Total required
$ 900.000
Rating
equalizer 362 из 1000
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Idea

UATAG (unique authentication tag) offers 100% complete protection of world-class brands and products from counterfeiting, powered by patented authentication technology and the blockchain.

Product’s originality is verified by visually comparing the unique crack pattern of the tag identifier with its electronic representation from the database on the screen on the customer's smartphone.

Current Status

Own expenses - $ 50 000 (R&D, prototype manufacturing, events, software development, salaries).
Signed the Memorandum of Understanding Agreement with 10 local brands and the National museum of history of Ukraine.
Next steps: ricing capital, final product mass production, global expansion.

Market

UATAG is used to secure, trace and prove the authenticity of:

*High-end products (footwear, clothing, accessories, electronics, medical equipment).
*Works of art (museums masterpieces, paintings, collectibles).
*High value cargo (logistics, transportation).

Geography: Worldwide.
Multi-year agreements will provide stable, predictable revenue.

Problem or Opportunity

Industry worldwide loses billions of dollars every year to counterfeiters. First of all, industries which find themselves in direct competition with counterfeiters suffer a direct loss in sales. Indeed, some markets are even dominated by counterfeiters, creating barriers to entry for the producers of the genuine product.

Frontier Economic reports that the total global economic value of counterfeit and pirated goods worth as much as $653.77 Billion in 2016 and accounts for up to 7% of the global world trade annually. The report estimates that these costs could reach $4.2 trillion by 2022.

There are many existing methods of fighting knockoffs: holograms, watermarks, sequential numbering, etc. The problem is that they do not resolve the problem completely because they can be counterfeited the same way as the product is.

Solution (product or service)

To protect the global market from the forgery and counterfeit we have invented and patented UATAG (unique authentication tag) - solution for product originality verification and counterfeit protection based on a two-level authentication technology:

-Physical — the uniqueness of the broken glass cracks, that play the role of product fingerprint,
-Digital — blockchain technology.

How it works?

1. The manufacturer attaches the tags to each product item and ships it to the stores.
2. The customer scans UATAG’s QR code and sees the image of this particular tag from the secure database.
3. Compares electronic reproduction of the glass pattern with the one that is attached to the product, if they match — the product is original!

Competitors

The number of anti-counterfeiting solutions is growing as quickly as market demands. There are hundreds of companies that provide more or less effective technologies which can prove the originality of products:

• Coding technologies. High destiny 2D / Matrix barcodes and other coding technologies, including mass serialization and surface feature authentication. (Certiligo http://brands.certilogo.com protects Versace, Moschino, Just Cavalli, Lanvin).
• Security Holographic. Devices including Holographic, Threads and Photopolymer devices. (NovaVision http://www.novavision.com).
• Security Incs & Coatings. Security Materials / Subsrates - Papers / Security Polarizing Films /Hiden Image Technolodgy / Digital Watermarking. (AlpVision http://www.alpvision.com).
• Security Tags & Labels. Chemical and Molecular Coding, Nano-technologies.

Advantages or differentiators

What sets UATAG apart from among others?

• Existing protection methods are mostly designed for manufacturers, not for buyers. They require specialized devices, mobile applications, or specific knowledge, on the basis of which, the originality can be proven.

• Unlike most anti-counterfeit technologies available on the market today, UATAG do not require any adapted devices or applications. It can be detected using a smartphone equipped with a standard QR scanner before the purchase, with a naked eye.

• Most of the technologies are really difficult to fake, but nevertheless, it's real. UATAG is 100% non-reproducible.

• Apart from its main function - protection against counterfeiting, UATAG can also play a role of a stylish product’s accessory.

UATAG gives 100% protection guarantee against product forgery and counterfeit and is designed for brand owners who care about customers that value originality.

Finance

According to our very conservative calculations in one year UATAG should be partnering with 200 companies and over 4M tags will be sold.
*All financial culculations and P&L are available upon request.

Business model

The revenue model is simple; UATAG makes money by selling the tags. Customers (large multinationals whose products are often counterfeit) order the tags in volumes.
Multi-year agreements will provide stable, predictable revenue.

Money will be spent on

FUNDING NEEDED : $900K.

Purpose of the investment:
1. Tags manufacturing preparation efforts.
2. IP protection
3. Global promo campaign (sales, marketing, advertising, professional memberships, conferences, representative cost).


Offer for investor

*We have the vision and the ability to accelerate your profitability and growth.
*We strive to fulfill the mission of maximizing the value through collaborative engagement in brand and product protection against counterfeiting.
*Our team is professional, approachable and personable.

If you think our values are very important and you are interested to join us as a partner and investor, get to know us! We have a good offer for you!

Risks

Our Challenges:

• Developing relationships with strong industry influences.
• Opening Markets.
• Cost due to scale.
• Production pipeline.

We strongly believe that our invention can revolutionize the market completely and allow the companies to protect their brand, products, and customers using our unique authentication technology.

Incubation/Acceleration programs accomplishment

Recommended and selected on:
*Acceleration program from Center for Entrepreneurship, Ukraine.
*Arkley Acceleration program, Poland.

Won the competition and other awards

1. TC Top Pick in the Privacy & Security category at TechCrunch Disrupt SF 2018
2. TNW 2018 editorial pick - Hottest Startup
3. “Go-to-Market” main Award of the CRDF STEP VIP competition.
4. ''Seal of Excellence'' certificate delivered by the European Commission, as the institution managing Horizon 2020, the EU Framework Programme for Research and Innovation 2014-2020.

Invention/Patent

Patent of Ukraine (№114778, July 2017); Applied for a PCT patent (Application PCT/UA2017/000082,).

Product Video

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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Product Video