Periodic Reporting for period 1 - OKIDOKEYS (New electro-mechanic access system with dematerialized keys for residential market)
Reporting period: 2015-05-01 to 2015-10-31
As explained, Openways has already started a market test in USA with very good acceptance through its own web page and started conversations with Amazon, this will ensure the possibility to sell the product also in Europe through this huge distribution company.
Regarding commercial exploitation, Open Ways will need, as previously explained, the collaboration of distributors like Fnac, Media Markt, Amazon, etc... Initial conversations have already started with all of them, and it’s very likely that Okidokeys system will be available in those companies for buying.
The main characteristics of the system are:
- Your phone becomes your key. Smartphones and regular cell-phones will both be compatible.
- Other means: by using the smart-reader, that integrates RFID, NFC and Bluetooth 4.0 technologies the use of smart tags will also be possible to open the door.
- Smart Gateway: It pairs with the smart-lock using the WiFi network in order to get online management options.
- Current metal keys may continue to be used.
- Grant access via the app for smartphones, tablets or through the Internet. Useful for: plumber visits, friends or renting your flat, etc.
- Create, share or revoke Smart-Tags keys from anywhere.
Objective: Analysis of the innovative value proposition that enables the sale of the product with enough profit margins to allow the return on investment and ensure the future sustainability.
Tasks: Four different tasks have been implemented during the project execution:
- Task 1: Market
- Task 2: Value proposition, business model and commercialization
- Task 3: Cost, revenues and funding scheme
- Task 4: Feasibility study
Timetable: The work done has been executed from May 1st 2015 until October 31st 2015
Results: The main remarkable results that have been achieved are related to the study of the market and to the business model. The feasibility study done during this six months has help us to better understand the lock market and positioning in the value chain. As well, new customer relations have been started recently.
- Using metal keys could cause problems if they are lost
- Metal keys are difficult to dispatch, remove or cancel.
- Metal keys have limited security
- Metal keys are expensive. (New securing locks have more expensive keys)
Okidokeys will eliminate all those problems by the use of smart keys “installed” in a smart-phone, cell-phone, keychain, wristband, walletcard tags integrating Bluetooth 4.0 CAC (Crypto Acoustic Credentials), RFID and NFC technologies.
Regarding the present business model is very clear: the final product is targeted to final users, that could be owners or renters of a house or flat, the way the new system will be sold can differ:
- In the own OKIDOKEYS web page. Final customers will be able to directly purchase the product in the Okidokeys web page.
- Through Amazon, Fnac and DIY (Do It Yourself shops)
- Through other specialized web pages
The present business models in the market do not differ from the one that OKIDOKEYS is targeting. All the other studied manufacturers have a similar approach: own exploitation through their webpages and through large technology distributors.