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TownChat

Blockchain based IoT solution for smart airports

USA, Delaware
Market: Robotics, Blockchain
Stage of the project: Prototype or product is ready

Date of last change: 23.11.2020
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Idea

Blockchain based IoT solution for airports to make security checkpoints check in, check out and passport control 20x faster and stress free through Traveler QR ID and Alexa Robot Immigration Buddies for touchless identification. Our advanced facial and Iris recognition algorithm makes identification process 10x faster.

Current Status

We have completed and validated the MVP of our QR ID with 763 Users while our Robot Immigration Buddies are under development.

Market

We are targeting Airports, Airlines, Travelers and Local Brands. Our Total Addressable Market Size is $3 Billion while our Initial Target Market size is $460 Million.

Problem or Opportunity

Everyday 3.5 Million travelers check-in or check-out at airports around the world. Due to long queues it takes on average 1 hour to complete immigration process which causes loss of 3.5 million Passenger Hours which is equivalent to 6 lifetimes worth of time and $25 million in Economic Value. Also 250,000 travelers miss their flights daily due to long immigration queues and there is also lost revenue for restaurants and stores in airports because travelers could not find free time for coffee and shopping.

In covid 19 new normal 76% of travelers, according to Dynata Survey, opted that their preferred destination will be countries that offer touchless and contactless experience at airports.

Solution (product or service)

TownChat is going to provide Traveler QR ID to travelers and Alexa Robot Immigration Buddies to airports for seamless and touchless immigration in 3-5 minutes. We will do this by integrating passport, visa and ticketing information into an individual QR code for each traveler, which will be stored on their smart phone. The traveler will scan the QR code through Robot Buddies at immigration check point and will get baggage, boarding and immigration pass. They will then scan QR ID at security checkpoints and will pass through. If needed travelers can also use their Passport and Visa instead of QR ID to scan through Robot Buddies for touchless immigration. Our solution will work both ways. Data will be saved in the database of immigration and security authorities while the data of QR ID Usage will also be saved on blockchain. Airports and Airlines can also provide customer service to travelers through our alexa robot buddies.

We are also integrating Thermal Scanner and Far UVC (222 nm) Light in our Robot Buddies to meet the challenges of Covid-19 by monitoring the temperature of travelers and by dis-infecting them before entering in the premises of airport.

Competitors

We do not have direct competitors. Our indirect competitors are Airside, Clear and Vision-Box. All of them involve biometric identification and Advanced Passenger Information Sharing. They do not provide touchless immigration and security checkpoints check in.

Advantages or differentiators

Our solution will not only provide touchless immigration using QR ID and Robot Immigration Buddies but will also allow travelers to process immigration remotely by sharing their information in advance while they are enroute to airport or just getting out of plane.

Finance

We will earn $5 on average per traveler and with 2.2 million travelers annually only at Rotterdam Airport we can earn 5-10 Million USD per annum through 1 airport only.

With initial sale of 100 robot buddies we can earn $1 Million in revenue.

For display advertisement we will charge $0.50 per hour per brand advertisement. We will share $0.15 with retail stores and airports and will keep $0.35 with us. For initial 100 display advertisements we will earn $300,000 per annum per robot buddy.

For content marketing we will earn on average $50 per month per business and for 10000 businesses initially we will earn $6 Million per annum.

Invested in previous rounds, $

Business model

We have 4 revenue streams. We will earn revenue thorugh Pay Per Use Dynamic Pricing for QR ID from travelers and through Content Marketing for local brands to help them promote their products and promotions to travelers and tourists. We will also earn revenue from selling robot buddies and advertisement through display screens on robot buddies.

Money will be spent on

45% on Operation, 25% on Marketing, 10% on Hiring, 10% on Product R&D and 10% on Legal and Miscellaneous.

Offer for investor

17% Equity at $3 Million Pre-Money Valuation.

Risks

Timing for entry in market is crucial to take unfair advantage.

Incubation/Acceleration programs accomplishment

We have attended Acceleration program of Rotterdam Airport through WorldStartup Netherlands. We have also attended Incubation program of Draper University.

Won the competition and other awards

We secured 2nd position in Draper University Demo Day Competition by pitching our startup to Tim Draper and his team.

Invention/Patent

We have patent pending with Canadian Intellectual Property Office (CIPO).

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Photo 1 - Blockchain based IoT solution for smart airports
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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