Power Map Innovation Competition Presentation
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Power Map Innovation Competition Presentation
- 1. Power Map LLC 1Your Personal Guide to Energy Efficient ProductsYour Personal Guide to Energy Efficient Products
- 2. Introducing Power Map Steve Ortley Associate Director Office of Research Alliances Rutgers, The State University of New Jersey Company: Power Map LLC Product: myPowerMap™ Position: Technology Evangelist 2
- 3. The myPowerMap™ Idea: “Facebook ® for Your Appliances” 3 myPowerMap™
- 4. The myPowerMap™ Model: Competitive Advantages 4 1) 2) 3) 4)
- 5. The myPowerMap™ Team: Seasoned Management Rick Mammone Ph.D. Board of Directors – Tom Kovatch (Chair) • Entrepreneur/Risk Expert – David Edwab • Entrepreneur/Retail Expert – Ilan Kaufthal 5
- 6. The myPowerMap™ Idea: The Results 6 CoRE Building Room 740 AC Receptacle Variation
- 7. The myPowerMap™ Idea: Converting the Results 7 Initial benchmark from: www.cvecinfo.com/
- 8. The myPowerMap™ Model: Information For Consumers 8 Web-Portal: www.mypowermap.com 3rd Party Widgets iPhone/Android/Smart Phone: App Multiple Access Points For the myPowerMap™ Database
- 9. The myPowerMap™ Market: Consumer -Smart Meters • How Much Will Consumer Pay: The Green Power Progress Survey1 – One-time fee of $50 to install hardware – Service charges of $10 per month • How Many: Parks Associates – The U.S. installed base next 4 – 5 years will be approximately 50MM2 • What’s it Worth: $2.5 Billion ($500MM/year) 91. http://www.slideshare.net/bursonmarstellerUS/2009-green-power-progress-survey-1825331 2. http://www.prnewswire.com/news-releases/smart-energy-summit-to-focus-on-in-home-energy-management- and-control-solutions-78425042.html
- 10. Conclusion & Contact Information For Questions about Power Map Richard Mammone, Ph.D. Founder & CEO Email: rmammone@jove.rutgers.edu Email: ceo@powermapinc.com Phone: 732 – 445 – 5554 For Questions about Rutgers University Steve Ortley Associate Director & Technology Evangelist Office of Research Alliances Email: sortley@vpr.rutgers.edu Cell: 908 – 705 - 4004 10 Website: www.powermapinc.com
Notas do Editor
- Good Afternoon, I know I’m keeping everyone from lunch so I will make this quick. My name is Steve Ortley and I’m the Technology Evangelist for Power Map a New Jersey based, Rutgers Spin-out, focused on making home energy monitoring technology that connects appliances. NEXT: THINK FACEBOOK
- The myPowerMap™ platform is intended to be the Facebook for Your Appliances. Just as you log into Facebook to check the status of 1) Friends, 2) Family and 3) Co-Workers, now you can check into myPowerMap™ to see the status of your 1) refrigerators, 2) microwaves and 3) air-conditioners. Just like Facebook you enter you status from a single point, Power Map tracks individual appliances from a single outlet. You only need one myPowerMap™. NEXT: COMPETITIVE ADVANTAGE
- myPowerMap™ has 4 key competitive advantages: Price – Our target is $49.99, one-plug for one-house that’s it. Plug-in-Play Installation – you don’t have to be a licensed electrician, just plug it in and your in business Appliance Specific Information from One-plug – myPowerMap™ tracks and tags each appliance so you only need one myPowerMap™ device And finally, we have Win-Win model for consumers and advertisers. Consumers can lower their utility bills by knowing the condition & efficiency of their appliance and by being agnostic across brands and product lines we can help advertisers get qualified leads for these big ticket items NEXT: THE MANAGEMENT
- An accomplished professor, inventor and serial entrepreneur Dr. Rick Mammone discovered the idea for myPowerMap™. Dr. Mammone can’t be here with us at GreenBeat because he is receiving the prestigious Thomas Alva Edison Award, not from Bill Joy of course, for his work in speak recognition technology. Dr. Mammone’s speech recognition technology was spun out into SpeakEZ and eventually acquired by Nuance. Dr. Mammone also invented the corneal-scope which is the central technology behind LASIK eye surgery. The board is comprised of seasoned investors, mostly from the Bear Sterns Merchant Bank (the profitable part of Bear Sterns of course) including Ilan Kaufthal who led the retail division and is currently senior advisor for Irving Place Capital, David Edwab, is also a Bear Sterns alum, and current vice chairman of the Men’s Wearhouse and board member for other publicly traded retailers. Tom Kovatch currently serves a board chairman for Power Map. NEXT: THE RESULTS
- The single-outlet prototype, using high-frequencies and impedances, is currently in use at our lab at Rutgers University where the meter generates aggregate data. NEXT: CONVERTING THE RESULTS
- We have developed and are finalizing an algorithm that takes the aggregate data and converts it to consumer-friendly charts that can show appliance specific power & efficiency based on device trends. NEXT: INFORMATION FOR CONSUMERS
- This is how appliances will socialize on myPowerMap™, by sharing information. We will encourage many access points to your personalized database and in fact one of the potential apps that I want to design is a “Did I Really Unplug The Iron/Coffee Maker/TV” app to make sure I don’t burn my house down… maybe State Farm would make that app. NEXT: CONSUMER-SMART METER MARKET
- With the 49.99 price point the market size for the myPowerMap™ device is both attractive and sustainable. With the Win-Win advertising/market research model and by using geographical information the system will also be able to recommend potential renewable energy sources to reduce pressure on the grid. It can be called a Win – Win – Win Power Map is really an information company and they eventually want to give the myPowerMap™ devices away for FREE. If successful you should be getting one in your Cereal Boxes in a few years. NEXT: CONCLUSION
- myPowerMap™ is the Facebook for Your Appliances. myPowerMap™ is a lower cost device that’s agnostic, and a platform technology for home automation. If you want to invest millions of dollars in Power Map today for a little piece of equity Rick gave me the green-light, otherwise you’ll have to contact him. Joking aside, if you have any questions about Rutgers faculty or technology in alternative energy please give me a call. Thank you for the opportunity to pitch Power Map.