Describe the company – the elevator pitch …
As the world moves towards seamless digital and mobile connectivity, we must move beyond PINs and Passwords (something you know) to more sophisticated security measures such as biometrics (something you are) and the first generation of these technologies such as fingerprint, voice, iris and face recognition have made considerable progress but have inherent constraints. ECG is an internalised (inside the body) biometric so infinitely more secure than external first generation biometrics.
B-Secur is a disruptive player within biometrics, as our approach and sheer flexibility offers an infinitely broader set of options for biometric authentication. B-Secur is a solutions business, not a product one. That means we work with our global customers, working to integrate our technology into their products, driving a license model as our commercial business plan. This approach offers flexibility, convenience and huge cost savings to our customers.
— B-Secur (@bsecurtech) January 5, 2017
How are you different?
B-Secur has developed a unique Electrocardiogram (ECG/EKG) biometric technology solution that is potentially more secure, convenient and cost effective than PINs / Passwords or first generation biometrics for user authentication. B-Secur utilises a person’s unique heartbeat electrical wave that is filtered, amplified and processed by an algorithm to allow authentication of a person against a stored profile. This has many commercial applications as a unique biometric or combined with other biometric modalities.
Why will the company / product do well?
ECG biometrics have arrived and will move to become a significant part of the overall biometrics market within the next 4-5 years, the market is forecast to grow from circa. $10bn today to over $40bn by 2021. With first generation biometrics you are limited to use cases and devices that can only process one way of capturing a biometric identifier (e.g. a finger for fingerprint) and you require specialist equipment (sensors/cameras). With ECG, you can capture a signal across multiple parts of the body (fingers, temples, waist, chest, back), using commonplace conductive materials, this means ECG biometric authentication technology can be implemented across hundreds of products across multiple industries, E.G. Access Control (securing buildings/Border Control and Immigration), Mobile/Wearables, Health and Wellness, FinTech and Automotive. We are building POCs and commercial contracts with customers within all these mentioned industries.
Where are you based?
The team of 15 (FTE & third party contractors) comprises experienced specialists in science, technology, engineering, signal processing, commercial and operations and is managed by a number of world class executives and supported by external bodies including the UK Centre for Secure IT (CSIT), Nanotechnology and Integrated BioEngineering Centre (NIBEC) and the UK National Physical Laboratory (NPL). B-Secur’s technology labs are located in Belfast, Northern Ireland with commercial and scientific operations in UK and North America. The Executive Board has recently been extended to create an Advisory Board including experienced world leaders from Financial Services, Science / Cardiology, Enterprise Technology and Cyber security.
— B-Secur (@bsecurtech) January 5, 2017
When was the company launched?
We founded B-Secur in November 2014, although our research commenced in 2007, affiliated to a cardiology project at Queen’s University, Belfast.
What have been your biggest wins to date?
In under 2 years we have developed our core technology to commercial performance levels and are in the process of signing our first strategic customer. We have built demand across multiple industries, with POCs and commercial agreements in place within Access Control, Health and Wellness (wearables), Mobile, Fintech and Automotive. We were recently announced by Gartner (world’s largest research company) as one of their top 5 global cool vendors within their human/machine interface category. We are also member of the London Stock Exchange Elite program, every year the LSE selects the top 16 companies in the UK with the highest growth potential to participate in their 12 month programme to broaden your business. Most recently, we’re delighted to have been voted one of Ireland’s top financial technology companies for 2016 in the FinTech 20 Ireland awards.
What type of people (market segment) are you trying to attract to your product?
B-Secur is a disruptive player within biometrics, as our approach and sheer flexibility offers an infinitely broader set of options for biometric authentication. B-Secur is a solutions business, not a product one. As such, we have underlying technology that can be implemented and integrated into numerous use cases, across multiple industries. We have commercial and technology engagement with companies from the following industries Access Control, Mobile (Wearables), Health and Wellness, FinTech, Automotive, Government, High Tech
Tell us about your team?
Alan Foreman (Chief Executive Officer)
Former Managing Director of Accenture PLC UK. 20 years’ experience managing and developing Enterprise Technology and Innovation with a focus on multiple industries, including Live Sciences. Background as a Manufacturing Engineer
Adrian Condon (Chief Technical Officer)
Former Head of Engineering / Programs at Schrader International with technical background in electronic engineering, software and sensor technologies. Significant experience in Automotive, Industrial, Aeronautical and Medical industries
Ben Carter (Chief Commercial Officer)
Former Vice President Sales at Pace Micro Technologies PLC and Director Global Customer Unit at Sony Mobile. Over 12 years working in the global technology / mobile industry developing and executing global GTM, sales, marketing and commercial programs within global enterprises
Paul Prenter (Chief Finance Director)
Former Chartered Accountant for KPMG. Over 20 years’ experience, and Finance Director to a number of Northern Ireland based companies including Finance Director of Staffline UK
Simon Rea (Head of Product)
Former Management Consultant at Accenture PLC UK. Expertise and focus with customer delivery and management within User Experience, Technology Delivery, Project and Supplier Management
What are you long term plans for your product / company?
ECG biometrics has a $2bn market share opportunity (by 2020), (overall biometric industry circa $40bn by 2020). Our 5-year plan is to build a significant revenue line across our core GTM industries. The sheer ubiquity of ECG biometrics, due to the numerous ways you can capture an ECG signal on the body, and the commonplace materials you can use, means there are hundreds of potential applications across industry. This, with the emergence of new technologies – robotics, AI, IOT, Machine Learning gives ECG an enormous commercial addressable market. We believe B-Secur can capitalise on this to develop a globally placed solutions based organisation.
How do people get in touch with you?
Find out more on our website www.bsecur.com, and on twitter @bsecurtech