Every year, more
than 1.5 million cars are reported stolen in Europe. In London alone, car theft
rose by 8% in 2014[1].
Around 171,713 vehicles, worth over Rs. 85 billion, were reported stolen or
snatched in Pakistan during the five years ending 2013. The actual number of
thefts is even more.
Keys (both
physical and electronic) of cars can be cloned very easy. At the same time,
solutions such as trackers activate when the car is reported stolen. In-car,
security systems such as trackers are often compromised through the use of
jammers. The problem becomes more acute
when the theft is committed without forced entries, meaning the stolen car
shows no sign of actually being stolen. Just last year, hundreds of thousands
of cars were stolen without forced entry. My Smart Remote (MSR) is an award
winning system that presents car owners with an additional layer of security.
To combat the
rise of key cloning devices which are cheaply available online, MSR provides a
solution that is not susceptible to key cloning and jamming signals. The MSR
mobile app communicates with a hardware kit inside the car, which asks for the
car owner’s approval each time an unrecognized device attempts to start the
car. Without approval, the car is rendered useless for potential thieves.
MSR provides a solution
that is not susceptible to key cloning and jamming signals. It consists of a
mobile app that communicates with a hardware kit installed inside the car,
which asks for the password and car owner’s approval every time a new user
wants to connect to the car through the kit. This means that any potential
thieves would not be able to start the car because they would need the car owner’s
approval. As opposed to state-of-the-art immobiliser, MSR offers the following
unique features:
As opposed to
state-of-the-art immobiliser, MSR offers the following unique features:
·
You can give temporary guest passwords to other
people like mechanics, valet drivers, or family members.
·
Changing car keys and getting new key copies is
costly and time consuming. With MSR, accessing key copies via the app and
changing your password is free.
·
By law, car manufacturers are obliged to share
information with authorized dealers, some of whom share this information with
illegitimate persons. Thieves have learnt how to bypass all existing security
solutions. MSR works as a stand-alone system and is not dependent on car’s
existing ECUs.
·
The system’s security features are interconnected
so that if a password is hacked, it will be difficult to start engine without
the owner’s authorisation.
·
Another benefit of MSR is that if you leave both
your keys and phone inside your car, you can simply borrow someone else’s phone,
download the app, type in the correct password and open the doors.
Key Note’s latest
vehicle security market report 2014 shows that there is a huge opportunity for
new product development. In January 2015, Met Chief, Sir Bernard Hogan-Howe said
in a meeting with the Mayor's Office for Policing, "Until we get that
design problem sorted out we have a problem and my concern is that the number of
cars being stolen will rise".
There are over
one billion cars worldwide, 10 million in Pakistan and over 250 million in
Europe. Even if car manufacturers come up with a solution for the problem the
new solution will only be implemented for newly built cars; leaving millions of
car in the aftermarket totally exposed .
Our business
model consists of sales through distributors. First year sales will focus on the
Pakistan, UK and Europe. Many distributors are already lined up in these countries.
We have received support from interested distributors in the UK, Pakistan,
Turkey, Asia, and South Africa. Car
security is a global issue and the product is highly scalable. The total market
size is over $100 Billion. Our projected 3-year sales revenue is over $10 M.
Assuming a P/E ratio of 8.5x, we anticipate a potential exit valuation of $20 Million
based on the projected Year 3 EBITDA.
KEY ACHIEVEMENTS:
- Implemented and Tested on 21 cars
- Top 21 Inventions of the Year at The Gadget Show Live 2015
- Toyota Innovation Challenge Award (Pakistan Innovation Foundation Award)
- Innovation Voucher from Innovate UK
- Best Research & Development Award 2014
- Provisional patents filed
[1] London Evening Standard, “Police Crack Down on ‘Keyless’ Car Thieves’, Newspaper published on 3rd February 2015, Page 10
“My Smart Remote” is a system through which
a mobile application wirelessly connects to and communicates with a hardware
kit installed inside the car. Due to its innovative security mechanism, My
Smart Remote provides enhanced car security that the user is completely in
control of through any smartphone. At the same time, the system provides
security against key cloning and password hacking. My Smart Remote provides a unique
solution to modern day thieves bypassing existing car security solutions.
My Smart Remote was one of the Top 21 British Inventions selected in for the British Inventors Projects at The Gadget Show Live 2015. Details of the system are provided in the following sections.
Tackling car security
Car
theft is a global problem and in recent years various studies such as reports from Sky News [1],
BBC [2],
Mark Ward [3]
and many others showed that thieves have developed methods to bypass existing
car security systems, which were developed in 1980s/1990s. Key Note report [4]
and UK Office for National Statistics [5]
show that in the year 2012-2013, one in every 20 households were a victim of
vehicle crime in the UK. In developing countries, this issue is even more
pressing.
Latest figures show that the
number of cars stolen in London rose by eight per cent in 2014, with the
increase mainly due to a raise in the rate of keyless thefts. [8] An extract from a
Telegraph article [9] given below perfectly highlights problems with existing car
security technologies:
“Expensive
vehicles such as Range Rovers and other 4x4s are increasingly facing what
police call “keyless” theft.” A Scotland Yard spokesman said: “As part of
Kensington and Chelsea's commitment to reduce theft of motor vehicles, officers
are currently stopping prestige vehicles seen being driven in the area after
midnight, when many vehicle thefts take place. He added that thefts of Range
Rovers now make up 10 per cent of all keyless thefts in the capital - while BMW
makes up 15 per cent of the total. Thieves bypass car security systems with a
hand-held device that can be bought online for as little as £50.”
This year, Met Chief Sir Bernard Hogan-Howe stated that until design
problems are resolved we will continue to see a rise in the number of cars
stolen. Drivers are reluctant to revert to older physical security methods such
as steering or crook locks which can also be easily bypassed by theives.
An
investigation by Sky News [10]
last year found that tens of thousands of cars are stolen or broken into using
key cloning devices, key programmers, transponders or cloning kits that are
easily sourced online. In October 2014 the BBC [11]
reported that some London-based owners of Range Rovers were denied insurance
over the issue.
One of the major issues with existing car security systems is that, car
owenrs may have to give key to mechanics, auto electricians and valet services.
New technologies mean it is possible to clone keys in less than 20 seconds leaving car
owners easily exposed to theft. The devices for cloning keys are legally
available online for less than £50. With these devices, cloning keys is far easier
than hacking passwords.
REASONS:
Car
insurance companies are increasingly requesting addition security such as trackers,
immobilisers, alarms or SIM-based solutions. Some of these might have mobile
apps as an interface but there is no real innovation in their security
mechanisms. Security is a continuous development
and innovation process- if security solutions are not continuously improved
thieves will find a way to bypass existing solutions.
Thieves
have now learnt how to bypass security measures using tracker signal jamming
devices or SIM-based solutions, damaging the system by cutting its power supply
or even key cloning. Although there are on average 50 computer systems in a
modern car, thieves can now gain access to a car in as little as 20 seconds.
Key cloning technology is so common, that around 50% of thefts and break in’s
last year were completed without force affecting insurance claims. If there is
no forced entry, insurance companies often assume the car owner did not lock
the car. In addition to financial losses, there are some other notable losses
which car owners are not able to claim back on insurance such as:
In addition to
key cloning, other techniques are used by thieves to bypass existing security
solutions, which include cutting the power supply to the security system or
damaging the security system to overcome its function. Jammers are used to jam
signals of trackers or other SIM-based solutions.
Some of the
other problems to which “My Smart Remote” provides solutions are:
·
The cost of most state-of-the-art electronic
vehicle security solutions like trackers is high. Most car owners pay over $200
for a standard vehicle tracking system. In addition, they have to pay annual or
monthly subscription charges.
·
Managing physical keys and remote control devices
is difficult. Many times people may lose it or lock it inside the car. In our
survey, we noticed that, in some cases, drivers locked keys and even babies
inside the car.
·
Sharing such keys is also a problem as this leaves
additional drivers without access to the vehicle.
·
Replacing car keys requires effort, time and produces
extra costs (typically more than $200).
[1] 8th May 2014; Sky News, "Thousands Of Cars
Stolen Using Hi-Tech Gadgets", 8th May 2014; http://news.sky.com/story/1257320/thousands-of-cars-stolen-using-hi-tech-gadgets
[2] Dave Lee, Technology Reporter, "Keyless cars increasingly targeted
by thieves using computers", BBC News, 27th October 2014; Last retrieved
on 21st June 2015 from: http://www.bbc.co.uk/news/technology-29786320)
[3] Mark Ward,
Technology Correspondent, “Hi-tech cars are security risk, warn researchers”,
BBC News, 1st September 2014, Last retrieved on 29th July
2015 from: http://www.bbc.com/news/technology-28886463
[4] Key Note, “Vehicle
Security Market Report 2014”, 2014, ISBN: 978-1-78304-107-7, Available on: http://www.keynote.co.uk/market-intelligence/view/product/10917/vehicle-security?utm_source=kn.reports.browse#
[5] Office for
National Statistics, “Crime in England and Wales, Year Ending December 2013”,
Crime and Justice Theme, 24th April 2014.
[6] Rocky Mountain
Insurance Information Association, “US Auto Theft Services”, last retrieved on
2nd September 2014 from:
http://www.rmiia.org/auto/auto_theft/statistics.asp
[7] European Communities, “A
Review of the Current Knowledge and Statistical Development on Vehicle Theft in
the EU Member States”, REGIOPLAN 2004.
[8] Press Release of 6th
February 2015, Metropolitan Police, “84 arrests following crackdown on keyless
vehicle theft”, Last retrieved on 21st February 2015 from: http://www.noodls.com/view/21B159D6F6CEABB030F97A2BD220651EB344BD38?6365xxx1423246100
[9] David Barrett, Home
Affairs Correspondent, "Traffic cops in an exclusive part of London are
stopping all high-value cars late at night following a spate of thefts",
The Telegraph, last retrieved no 2nd February 2015 from: http://www.telegraph.co.uk/news/uknews/crime/11348791/Pull-over-expensive-cars-after-midnight-police-told.html
[10] 8th May 2014; Sky News, "Thousands Of Cars Stolen
Using Hi-Tech Gadgets", 8th May 2014; http://news.sky.com/story/1257320/thousands-of-cars-stolen-using-hi-tech-gadgets
[11] Dave Lee, Technology Reporter, "Keyless cars increasingly targeted by thieves using computers", BBC News, 27th October 2014; http://www.bbc.co.uk/news/technology-29786320)
Mobile/Gaming, Hardware/IOT, Digital, Technology