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inkID Biometric Password Manager

Melbourne entrepreneurs are using Indiegogo.com to raise funds for completion of the inkID Biometric Password Manager
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COMPANY: inkID Biometric Password Manager

LOCATION: Melbourne

NAMES: Boyd Mark and Jeff Lammers, founders of inkIDtm

WEBSITE: myinkID.com (Search “inkID” on Indiegogo.com)

Melbourne entrepreneurs are using Indiegogo.com to raise funds for completion of the inkID password management software. We challenge you to catch the wave of crowdfunding and support new technology initiatives from our region. Visit the website, MyinkID.com, to learn more.

Imagine what it would be like to have hundreds of investors backing your new product or concept, without sharing equity in your company.  That’s what crowdfunding sites, like Indiegogo and Kickstarter, are making possible for aspiring entrepreneurs across the world. It should be no surprise that successful Central Florida “treps,” including entrepreneurs Boyd Mark and Jeff Lammers, founders of inkIDTM, are also using these platforms as a launch pad for their next successful venture.

Boyd H. Mark is a software industry veteran and business leader with extensive experience in Silicon Valley.  He was a Senior Director at Melbourne biometric technology firm, AuthenTec, which made headlines in 2012 when Apple acquired it for its fingerprint scanning technology, now available on iPhones and iPads.

Jeff Lammers is an accomplished entrepreneur, product design engineer and author.  He began his career as a rocket scientist with McDonnell Douglas.  Since then, he has developed a wide array of products, from airport check-in kiosks to educational software and a very successful pediatric vision-screening device.  He also wrote the World Record Paper Airplane book series, with over three million copies in print.

This dynamic duo has teamed up to launch inkID, a fingerprint scanning password management product and software that provides the convenience of biometrics to the everyday user. inkID solves the problem of remembering numerous and highly complicated passwords necessary for online security today. The small and easy-to-use product will replace passwords by using a person’s unique fingerprint as the key. inkID’s specialized software works in concert with the biometric reader to securely maintain passwords and access the user’s online accounts. Users can literally forget about passwords.

 

Be Your Own Password

“Everyone understands that traditional passwords are ultimately not scalable or secure in today’s hyper-connected world,” said Mark. “The emergence of fast, easy and secure biometrics is clearly the answer.” Co-Founder, Lammers, added, “inkID makes security an affordable reality for anyone using a laptop or desktop computer.  Using your fingerprint as a master password, you can be your own password.”

Where does the crowdfunding come into play? Prior to launching the Indiegogo campaign, the inkID team had the fingerprint readers ready for distribution, but needed funds to complete a consumer-ready version of the software. The new version includes updates and addresses feedback from the test market. After studying other successful crowdfunding campaigns, such as the Pebble Watch, Code.org, and the Coolest Cooler, they decided this was the best way to introduce the product to a tech-savvy market and raise the capital for the completion of the software.

In crowdfunding methods like the one chosen by inkID, instead of equity in the company, individuals that “back” the project receive a product or service in exchange for their pledge. With the inkID campaign, for a $39 (or more) pledge, the backers will receive their own inkID reader and software license, if the goal is reached.

Just as AuthenTec and Apple made people more comfortable with biometric scanning, crowdfunding has also become more popular and widely accepted. Forbes reported that consumer tech is the best performing category with the highest success rates. Given the 2015 data from Statista, stating that 40 percent of all Kickstarters are fully funded, the inkID team is confident their new product will join the ranks.

The inkID story is another testament to the ingenuity coming out of Central Florida from our inspired and talented entrepreneurs.


This article appears in the June 2015 issue of i4 Business.
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