Startup competition




Company name: UATAG

Describe your idea, state the problem and solution

The economic impacts of counterfeiting and piracy: -Counterfeit and pirated goods cost the global economy as much as $650 billion a year (total imports in world trade of USD 17.9 trillion). -Global impacts of counterfeiting and piracy to reach US$4.2 trillion by 2022. -The global anti-counterfeit packaging market is expected to reach USD 184.87 billion by 2025. Today, big brands, are facing the challenge of counterfeiters who continually attempt to exploit famous brand names and benefit from the fame and worldwide success they have achieved. Counterfeits not only costs millions of dollars and jobs to industries, but they also pose a threat to consumers who, in some cases, don’t even know they’re buying fake products. By taking advantage of the fidelity people show towards brands, counterfeiters put profit over safety and sell potentially dangerous items. We are talking about counterfeiters who produce fake medications, alcohol, tobacco, auto parts or toys — buying such items clearly poses a health risk. To protect the global market from the forgery and counterfeit we have invented — UATAG (unique authentication tag)! It is patented solution for product originality verification and counterfeit protection utilizing fingerprint technology. Unique glass pattern formed by cracks plays the role of product fingerprint. Each glass pattern is completely unpredictable and non-reproducible, even by UATAG. UATAG is attached to the product or packaging. Customer scans UATAG’s QR code and sees the image of this particular tag from the secure database. Compares glass pattern with the one that is attached to the product. If they match — the product is original! UATAG gives 100% guarantee of the product’s originality!

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