The Founders Lab Thesis tasked each team with taking an idea and trying to form a business out of it. In the process, the thesis director would be there to guide each team and provide expertise where needed. The venture that was assigned originally to our team was a posture correcting device, however after numerous attempts to correspond reliably with the developers of this technology, it was decided that the team should move on to a new idea. Therefore, our team took on a venture named Altion Security: an initiative with the main goal being the safekeeping of customers interests. The product that we were tasked with is a bike alarm that simply rings out when it detects someone tampering with it. This product is a solution to the problem of bike thefts. 2 million bikes are stolen each year in North America, which translates roughly to a theft every 30 seconds (Project 529).
There are quite a few readily available products that one can buy if one looks past some of their flaws. A lot of these alarms either require a user to carry an extra communication device, or they are too big or expensive. The proposed solution merges all desirable features of a bike alarm into one module. In light of this, surveys were conducted to ascertain what these qualities would need to be. The top considerations for purchasing this alarm were how costly it would be, the false detection rate, and also the battery life. Additionally, the features that were most requested was the inclusion of a GPS and a camera. In order to incorporate these features, a three year plan was formulated which would culminate into a bike network in which each bike could communicate with other bikes. This would allow for an IOT network to be established, thus far exceeding expectations. The price point for this alarm is USD $10.00-15.00 and can come in a variety of colors. Additionally, this concept can be applied to many different scenarios, from protecting boats/jet skis and other aquatic vehicles, to houses as well. Furthermore, one could miniaturize this technology to be used in jewelry or accessories.