BACKGROUND
Everyday we use more than a dozen different passwords. This is inconvenient — and insecure. Existing biometric identification provides greater security, but it was designed primarily to meet the needs of the government and military market. Cost, size, robustness, “spoofing,” and ease of use were not significant issues in these markets.
The developing commercial market requires an inexpensive, easy-to-use identification system that integrates with different platforms and gives high performance and security, even in uncontrolled, unsupervised environments. In other words, a system that provides security for everyone, everywhere.
THE ID-U SOLUTION
ID-U Biometrics offers the first stimuli-driven biometric system, a disruptive concept in biometric identification, one that gives a solution for existing and developing markets.
The user watches a moving target (a random stimulus) on a monitor while a small, low-resolution camera acquires the user’s eye-movement response to the stimuli. A processing unit receives the response and uses both stimuli and response to identify the user. Using this kinetic response to form an identification signature introduces a new dimension in biometrics — 4D-Biometrics™. This approach, either as a stand-alone product or as part of a multi-modal security system, presents advantages for many applications.
ADVANTAGES
Ultra secure: Reproduction of a user’s response is virtually impossible, therefore spoofing the system is also virtually impossible
Simple and inexpensive integration into existing products (software)
High performance: Robust, unaffected by environmental factors (e.g., dirt, noise, illumination)
Contactless interface with no psychological barriers
TARGET MARKET
The Company’s preferred market is cyber identification. According to various sources, Internet transactions represent a $1 trillion market, but it suffers a 3%-8% loss due to ID theft.
ID-U will target the commercial identification market, including access control to financial services, consumer PCs, home security, electronic and mobile commerce (authentication transactions), ATM and IT security. This market is expected to grow rapidly. Current meetings with potential customers and strategic partners indicate long-standing unmet needs in this market.
BUSINESS & INVESTMENT OPPORTUNITY
Current advances of the ID-U technology and the global economy offer investors a rare opportunity: At just one year before the launch of its disruptive technology and first product, investors can join the Company to enjoy its potential for fast growth and significant ROI.
A second funding round is in progress for commercializing the technology and starting sales. The Company seeks to raise an additional $0.5 to $2.5 million. In parallel, ID-U is pursuing several opportunities involving a joint venture with leading partners.
TEAM
Daphna Palti-Wasserman, Ph.D., Inventor, Co-Founder, CEO. 15 years of experience in R&D (signal and image processing) and management; previous at IBM research labs and a number of start-up companies; Technion-Israel Institute of Technology graduate
Asaf Danziger, Board Member. Extensive management and business experience
Professor Moshe Gur, Scientific Advisory Board. Professor, Biomedical faculty, Technion
Justin Oberman, Advisory Board. Extensive experience in HLS and biometrics: assistant director, U.S. Transportation Safety Administration; consultant to L-1 identity solutions
Steve Rhodes, Board Member. Close to 30 years of experience in finance and marketing |
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COMPANY STATUS
Founded: 2006
Investors: The Trendlines Group, Misgav Venture Accelerator, private investors
DEVELOPMENT STATUS
2008: Completed validation of the technology and have a preliminary prototype demonstrating the technology
2008: Winner, Israel Venture Association’s annual start-up competition
INTELLECTUAL PROPERTY
Strong worldwide patent (pending)
BUSINESS MODEL
The Company will license its novel software or provide services (SaaS) to major clients including security integrators, banks, Web service providers (eBay, Pay Pal), credit providers, and device manufacturers (e.g., cell phones, notebook computers, desktop PCs, and ATMs)
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Play this brief clip about ID-U Biometrics
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