Photo - PinPoint
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PinPoint

An AI-Powered video monitoring solution that views life data

UAE
Market: Internet and IT, Artificial Intelligence
Stage of the project: Prototype or product is ready

Date of last change: 20.10.2020
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Idea

An AI-Powered video monitoring solution that views life data of foot traffic so that it reduces nervousness and uncertainty during covid19. It also allows customers to join virtual lines in case a place was contaminated. This way, we help customers plan out their daily trips ahead of time, and also aid businesses in managing crowds efficiently. Businesses also benefit from insightful data that can be used to generate business insights to optimize sales/revenues and fight the pandemic.

Current Status

We have already built a working prototype that is currently in the testing phase. In the meantime, we are creating a social media marketing campaign in order to develop traction around the app until it's official and full release

Market

Our customers are segmented into 3 categories:
First the users who view life data, real time heatmaps, receive reward points when using the app, and recommendations based on capacities and interests

Secondly, businesses can use PinPoint to keep their employees safe, use the data collected and shared with them to optimize sales and drive marketing
campaigns, acquire effective queue management systems, and benefit from having to extra hardware requirement

Furthermore, Goverments can also use PinPoint to manage the overall movement in the city and ensure businesses are applying the right safety measures to drive future decision making

Problem or Opportunity

"How do you feel when you leave your house? Are you worried about COVID-19? Feeling irritated? Uncertain? Normal? How about abiding to social distancing measures? Have you had to wait in line because of maximum capacity restrictions? If any of these points feel relatable, then you're not the only one!

At a time of an unprecedented health and looming economic crisis, it is more important than ever to encourage people to leave their homes with the right tools to feel safe. With social distancing being so important, we discovered a real-need for a user-facing app to know where the crowded areas are, and find an online alternative to traditionally standing in line. "

Solution (product or service)

"Our solution will use a deep learning model that processes footage fr om CCTV cameras (without requiring additional hardware) to report live-data on how many people are in a store (people counter), and whether or not it is near maximum capacity. This will remove the uncertainty for society to safely leave their homes, benefiting fr om indoor heat-maps and the option to join a virtual waiting line wh ere applicable. We are also testing the model to be used for face-mask detection.

Further, this will allow businesses to attract customers back to their stores and benefit from a series of data insights. It will also give governments a greater sense into wh ere most people are concentrated and allow for better movement in the city."

Competitors

"Some competitors we identified were Google Maps, Derq, Density.io and v-count, but while they each offer some element of what we have, they do not include all functions.

Advantages or differentiators

Our Unique Value Proposition is primarily a user-facing interface with live reporting that uses a deep learning model (computer vision) applied to CCTV cameras. This removes the need for additional hardware. Further, our app includes a waiting list feature and indoor heat maps.

The user-interface gives makes un unique for two main reasons; first it allows users to benefit from the data as well as the business. Secondly, it allows as to widen our data insights which will be provided to the business in terms of studying user behavior in using the app inside their stores and other stores

Finance

To generate revenue, we will be operating on a subscription model of 1000$/store/year. We will be introducing other models as we add new features that I will talk about later in the presentation

Our startup costs will mainly lay of the development
and marketing, and new hires, and with time will be adjusting those based on our business needs

As for our revenue, we estimate adoption of 100 stores in the first year, and we estimate to breakeven in the 3rd year. We expect that to increase exponentially as we adopt more stores, and introduce more features

Business model

Subscription more of $1000/store/year, which is calculated based on our costs and the estimated number of customers in which breakeven will occur at the adoption of 500 stores. This is estimated to happen in the beginning of the 3rd year

Money will be spent on

licensing - $5445
Development & Maintenance - $50,000
Cloud - $15,000
Sales/Marketing - $40,000
Salaries - $60,000
New Hires (Cloud Architect, App Developer, Backend, Financial expert) - $80,000

All per year for the first year. Details are described in the attached presentation

Offer for investor

Willing to give 10% of the company for $300,000

Team or Management

Risks

* Current competitors in the market that might build a user-interface (which is our current unique feature)
* New startups developing the same idea and entering market too late
* Some legal regulations might impose limitations on accessing the footage

Incubation/Acceleration programs accomplishment

In the process with dtech Dubai, UAE

Won the competition and other awards

* April 2020: Startup Weekend Dubai - Top-10 finalist over +100 teams
* Jun 2020: OMAC Hackathon - First place over +1200 teams - $10k
* August 2020: Arab Youth Hackathon - Top-20 finalists over 100+teams
* September 2020: StartAD Competition - First place over 100 teams

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
Photos
Product Video