[INQ. NO. 1706E21] Please tell us about your company’s growth engine along with a corporate introduction
Our company was established in March 2013, and I established it to develop ‘Internet of Things’ which reduces the use of electricity. I decided in 2012 to launch such a company when the power shortage problem was serious, and we have since been developing products grafting the IoT field with the purpose of reducing one nuclear power plant by reducing electricity.
We named our company “Insight Power,” which means a “Company having insight into electricity,” and began to develop “Wattdream,” which can reduce power consumption by using an app. We succeeded in developing it in 2015 and launched Wattdream, through which we are now marketing the app.

We want to know about your main products
‘Wattdream’ is small and light, weighing just 96g, with dimensions of 12 cm in width, and 4 cm in length.
However, cutting-edge technology operating smartphones and IoT is included in it. In particular, applying Bluetooth technology adds to the competitiveness of Insight Power.
Most of the existing products that control electric power by IoT use Wi-Fi. In this case, a wireless router is needed and a server is needed, too. However, in case of ‘Wattdream’ which was applied by Bluetooth, there is no need for a wireless router and there is almost no power consumption, plus it has advantage of easy installation and convenient use.
Wattdream is a product that can reduce standby power by freely turning on and off the power of household appliances at the desired time through a dedicated app. It can turn the power ON/OFF directly, or reservation setting can be used to operate it on a specific day of the week or in a specific time zone. Therefore, electricity charges can be saved if you use it, and furthermore, electric heating appliances can be used more safely, so it is very useful. By setting automatic power shut- off function every night for the water purifier or TV set-top box which is not used in the middle of the night, electricity charges can be saved, too. It also has advantage that no installation or maintenance cost is needed as it is operated using Bluetooth.
Wattdream is an electric timer controlled by an app and it is a convenient product that can adjust the usage times of home appliances at will. It can adjust ON/OFF schedules up to the minute unit freely, and it can be set to be operated only on a specific day of the week. Once it is set, it is operated independently according to the time and day of the week, even if a smartphone is not connected.

Please tell us about your major export markets and recently emerging promising markets
The more developed a country is, the more expensive the electricity charges are, so the advanced countries have an interest in saving power consumption. They have thus shown a lot of interest in Wattdream, which can easily reduce power consumption by using a smartphone app.
In the future, we are planning to develop overseas markets actively targeting advanced countries such as the USA, Germany, France, etc.

If you have any special management philosophy as CEO, please tell us about it
Wattdream is a product that enables individuals to save the energy to combat the effects of global warming. I think that the method led by the nation should be proceeded with macroscopically; on the other hand, we are planning to launch the products continuously to distribute them widely by producing the products easy to be operated in daily life by individuals. I think it is a way to contribute to society if an individual saves energy even by 10%.

Please tell us about your future vision, and give us a message for overseas buyers and customers
We have been getting good responses by launching energysaving products and have become widely known overseas, so we will develop and launch the products to be a robust enterprise related to energy. ‘Wattdream’ is an innovative product which can effectively reduce power consumption. Because of this, it has been gaining explosive popularity among domestic consumers as soon as it was released. We are looking forward to receiving even greater interest from overseas customers.

korean-electronics.com | Blog Magazine of korean electronics, brands and Goods

[INQ. NO. 1706E20] Please tell us about your company’s growth engines along with a corporate introduction
Our company, IRISYS (IRIS + SYSTEM) was established in 2012 as a company specializing in biotechnology which provides various products and solutions based on Iris technology as refl ected in the company’s name.
The biggest advantage our company possesses is IRISYS, which may be called the ultra-light SW algorithm applied by encryption/decryption technology of biometric Fuzzy Hash onto ultra-small iris authentication devices. In addition, we think it is the pride of our company that this method was applied that blocks the leakage of personal information. This is an issue that is being emphasized more and more, and it was developed as a method that does not store people’s personal bio information in the server, etc.

We want to know about your main products
We have perceived that the existing bio information is based on the image-contrasting method, so there exists a gap between the perfect security area – therefore, we started to research the ways by which can go beyond the gap. Thus, the iris authentication algorithm created by the above background has acquired international standard certifi cation, FIDO U2F (Universal 2nd Factor) and UAF (Universal Authentication Framework) authentication already. The physical security products such as the personal safety boxes, door-lock and access control device which are launched by our company at this time are the products applied by the optimized iris recognition technology like this.
Currently, we have contracted a supply agreement of iris authentication door-lock products with global customers in the industrial material fi eld in Europe and entered into the completion stage of development of the iris authentication module, and its fi eld test is scheduled in the near future. Once the fi eld test has been successfully completed, it will be switched to a mass-production system immediately, and it is expected that the iris authentication door-lock will be commercialized fi rst in the global markets.
Recently, a lot of enterprises have been launching products applying IoT in the smart home fi eld, and our company, IRISYS, has plans to launch the products by applying iris authentication into the access controlling device and personal safety box, too. Such physical security products will be presented through domestic and overseas exhibitions. Many security experts have gathered opinions that the next-generation security fi eld, which will replace fi ngerprint recognition, is iris recognition, and it is noted that a lot of global enterprises are spurring research and development to launch the optimal solutions.
As we mentioned earlier, our company, IRISYS, can collaborate with any enterprise in relation to irisauthentication software algorithm we have self-developed, and the number of competent SW engineers enabling it exceeds 50% of total R&D personnel.
The marketing method of our company, IRYSIS, has mainly used domestic and overseas exhibitions to display our technical skills, and we have a plan to utilize this method continuously. And especially in the case of physical security products that can be used by consumers directly such as door-locks, access-control devices, payment systems, etc., we will utilize it actively according to the fi eld demonstration plan of IoT by the city government and listen to the opinions of actual customers, and we are planning to conduct viral marketing, too. We will make every possible eff ort to introduce a marketing approach that refl ects the various tastes of customers in the future.

Please tell us about your major export markets and recent emerging promising markets
At present, we are expecting to export our products mainly to the European market where our global customers are located. Furthermore, we are expecting to expand our market to the Middle East including the UAE and all other Asian countries such as China, etc. In fact, we think that the fi eld to apply smart home and IoT technology is infi nite, globally.

If you have any special management philosophy as CEO, please tell us about it
I think that the core thought I keep in mind is “Never give up until you succeed.” I established the company in 2012 and now fi ve years have passed, during which I have overcome a lot of diffi culties till now and I personally think I have a big jump ahead in 2017. I will confront a lot of challenges in the future, too − however, I am confi dent that I can overcome them with my colleagues.

Please tell us about your future vision, and give a message to the overseas buyers and customers
Beginning from iris recognition, we have a dream to become a professional enterprise that stands out in the biometric authentication fi eld. To realize this, we will do our utmost in the R&D fi eld, and we will create a virtuous-cycle structure in which the output of our eff orts is linked to the best products that are convenient to use in the real lives of consumers and always reliable.
Thank you very much!

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