GPS Business News interviewed with David Morse, CEO of Location based Technology, a US-based company looking at introducing on the market a child/pet locator at $130.
GPS Business News: Who is Location Based technology?
David Morse: Location Based Technology is a company committed to helping families use technology to deal more effectively with the complications and demands of today's world. With two income families or single parent families, and travel associated with many occupations, it is difficult to know where your children are, if they are where they are supposed to be. We offer nothing less than peace of mind with PocketFinder, our GPS locator device.
PocketFinder is a family of GPS locator, so not only you can monitor where your child is, but also your pet or even your luggage.
GPS BN: How big is your company and how are you funded?
DM: Location Based Technology is a publicly listed company; we are quoted on the Over the Counter Bulletin Board. We are a small company. We have a unique structure; we have outsourced many aspects of our business. The core business is made of three people, and then everyone else is contracted: we have engineering in the UK, a development team in Zurich and engineers in China working on the tooling. We don't have the need to hire all these people in the long term, so we outsource.
GPS Business News: Who is Location Based technology?
David Morse: Location Based Technology is a company committed to helping families use technology to deal more effectively with the complications and demands of today's world. With two income families or single parent families, and travel associated with many occupations, it is difficult to know where your children are, if they are where they are supposed to be. We offer nothing less than peace of mind with PocketFinder, our GPS locator device.
PocketFinder is a family of GPS locator, so not only you can monitor where your child is, but also your pet or even your luggage.
GPS BN: How big is your company and how are you funded?
DM: Location Based Technology is a publicly listed company; we are quoted on the Over the Counter Bulletin Board. We are a small company. We have a unique structure; we have outsourced many aspects of our business. The core business is made of three people, and then everyone else is contracted: we have engineering in the UK, a development team in Zurich and engineers in China working on the tooling. We don't have the need to hire all these people in the long term, so we outsource.
David Morse
GPS BN: What is the key differentiator of your devices?
DM: there is more than one! It is waterproof so kids and pets can be kids and pets. No worries about playing in the sprinklers or at the local pond/beach or pool. It is small (about the size of an Oreo cookie) and weighs about an ounce and a half (42.5 grams). It costs only $129.95 which is significantly less than any other real-time (GPS/GSM ) device. Finally, our End-User-Interface is absolutely phenomenal. We would love to give you a demo!
GPS BN: I have been told you have built an accelerometer in your device, what is it for?
DM: Yes, We have designed and built an accelerometer into the PocketFinder device. That enhances our ability to identify direction, speed, and impact (measured in G forces). Software is under development that will allow us to set a threshold, meaning a 2+G impact will activate the air bag in your car) so that the parent/guardian would receive a “High Impact Alert” if the device that their child, pet, elderly parent, etc. is carrying experienced an impact at or above the threshold.
Once the software is completed, we will also be able to provide enhanced location capability when the device is unable to achieve a firm GPS lock by being able to “follow” the direction and speed of the device as identified through the accelerometer. It is a very versatile and useful tool to add to the PocketFinder.
DM: there is more than one! It is waterproof so kids and pets can be kids and pets. No worries about playing in the sprinklers or at the local pond/beach or pool. It is small (about the size of an Oreo cookie) and weighs about an ounce and a half (42.5 grams). It costs only $129.95 which is significantly less than any other real-time (GPS/GSM ) device. Finally, our End-User-Interface is absolutely phenomenal. We would love to give you a demo!
GPS BN: I have been told you have built an accelerometer in your device, what is it for?
DM: Yes, We have designed and built an accelerometer into the PocketFinder device. That enhances our ability to identify direction, speed, and impact (measured in G forces). Software is under development that will allow us to set a threshold, meaning a 2+G impact will activate the air bag in your car) so that the parent/guardian would receive a “High Impact Alert” if the device that their child, pet, elderly parent, etc. is carrying experienced an impact at or above the threshold.
Once the software is completed, we will also be able to provide enhanced location capability when the device is unable to achieve a firm GPS lock by being able to “follow” the direction and speed of the device as identified through the accelerometer. It is a very versatile and useful tool to add to the PocketFinder.
GPS BN: How do you want to differentiate from wireless operators that offer the same service in a phone?
DM: We aren't after the phone market. It is the young child, elderly parent with Alzheimer's or dementia, and the pets that we are focused on. A phone, even a restricted phone, is far more expensive than our product and try dropping it in water or spilling your drink on it. Its use is over. Swim with ours and know that it will work just fine. Additionally many parents want to know where their children are but don't like the friction of dealing with the cost of calls to and from their child to friends, etc.
GPS BN: $14.95 per month is serious money, so what is the addressable market? What are the most promising segments?
DM: Our primary focus is 4-5 years old up to 10-12. Right now, there are 38 million kids from 5 to 12 years old in the United States. There are 70 millions pets as well. We have seen a real demand for this kind of product.
GPS BN: Are you going to offer a pay per act or pay as you go pricing for consumers that have more limited usage of a tracking device?
DM: Unfortunately no. We must pay for carrier access and we do not have an option like that at this time. Perhaps the future once we establish value with the carrier and can swing customized plans.
DM: We aren't after the phone market. It is the young child, elderly parent with Alzheimer's or dementia, and the pets that we are focused on. A phone, even a restricted phone, is far more expensive than our product and try dropping it in water or spilling your drink on it. Its use is over. Swim with ours and know that it will work just fine. Additionally many parents want to know where their children are but don't like the friction of dealing with the cost of calls to and from their child to friends, etc.
GPS BN: $14.95 per month is serious money, so what is the addressable market? What are the most promising segments?
DM: Our primary focus is 4-5 years old up to 10-12. Right now, there are 38 million kids from 5 to 12 years old in the United States. There are 70 millions pets as well. We have seen a real demand for this kind of product.
GPS BN: Are you going to offer a pay per act or pay as you go pricing for consumers that have more limited usage of a tracking device?
DM: Unfortunately no. We must pay for carrier access and we do not have an option like that at this time. Perhaps the future once we establish value with the carrier and can swing customized plans.
PocketFinder's web interface
DM: We are just finishing development and we are going through certification for GSM, FCC, CE, etc.
For volume production we have a commitment to start by the end of June; today we are pretty on track to meet this deadline. Then scale will grow over the next 6 months. We have selected strategic partners. They will be the face to the marketplace. We are looking at high profile consumer companies. But at this time I cannot be more specific.
GPS BN: Are you going to offer it also as a white label solution?
DM: We have specific apps that will be white labeled, but some retailers will carry it under our brand as the PocketFinder.
GPS BN: Are you targeting only North America?
DM: We will also be looking at Europe in the future. Our product is a quad band GSM and our machine to machine wireless provider, Kore Telematics, has partnerships with many wireless operators.
GPS BN: Mr. Morse, thank you very much.
DM: My pleasure.
By:Ludovic Privat
Credit:gpsbusinessnews.com
