Project by: Erik Humlen, Richard Vo
High Concept Statement:
A firearm attachment with accompanying bracelet that allows the user to activate or deactivate the firearm. The product comes with a mobile app counterpart that allows for round tracking, battery status and other miscellaneous information
Need or Demand:
Our research suggests that 40% of the current firearm owners are interested in smartgun technology of the likes we seek to create, and an additional 75% of new and potential firearms owners have shown interest, implying that this is a growing market for the next generation of firearms owners
Product / Service / Solution:
We believe that the needs created by the $48bn annual firearms market in the US for smartgun technology can be fulfilled with our solution, that improves the safety and control firearms owners have over their product.
The #1 Value the customer will derive from our solution is increased security, and the peace of mind that the firearm can only be used by the intended user. This is a key worry for law enforcement officers, as well as home protection owners.
The current competition, as far as application based smartgun technology is non existent. Due to laws and regulations that our product circumvents, the only competitor, the Armatix model, has limited availability in the US.
The primary money will be made off the sales of our intellectual property, as well as a possible additional revenue through a subscription fee to the mobile application counterpart.