PixelPin Ltd (formerly OEM Partnership)

OEM Partnership Ltd

OEM Partnership Ltd
Unit 109 Eton Place
Eton College Road
London NW3 2DT

Contact:
Brian Taylor
brian.taylor@oem-partners.co.uk
www.pixelpin.co.uk

Pixelpin is an innovative approach to mobile security using pictures as the user's means of access

Pixelpin has secured a total investment of £250,000 including funding from the Technology Strategy Board, an element of crowd funding through Crowdcube and an award from Telefonica’s Wayra startup scheme. The business has now employed four people full time to work on the project, and trials are planned with a national e'tailer with a beta launch set for October 2012.

The original pitch

What is the market opportunity?

The mobile secure applications market has a growth of 50% per year. The movement of services to mobile markets creates opportunities for new software security mechanisms. The total market for security software is $153m rising to $760m in 2015. It is competitive, with different technologies entering the market. We believe our product is unique and secure, appealing to the young as it is visual and fun to use.

What is the business model?

Our growth will initially come with entry to the market through app stores. Sales will then come from licensing the software to app developers and web site owners. The app will be priced to gain immediate market share and will start to generate revenue in 12 months. Long-term growth will come from licensing agreements with web service providers, adding new features and services which have already been identified.

Who are the team?

The business is led by Brian Taylor, who invented and developed Pixelpin, and who has over 26 years' experience in software project management. His partner is Geoff Anderson, a fellow of the Chartered Institute for IT with over 30 years' experience in successfully delivering software projects and developing new business. We will need commercial and financial support as the business grows, and app developers after six months.

What is the funding strategy?

To rapidly enter the market with professional, good-looking apps, the development will be sub-contracted to experienced companies in Tech City. We require £100,000 of matched funding to cover the sub-contract and management costs. These apps will be generating revenue in 12 months and a shareholder in the business will start to see returns in year two. We project a potential return on investment of over 20-fold in five years.

Last updated on Thursday 30 August 2012 at 12:35

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