Barry Wallace
Salt Lake City, UT (USA)
Role(s):
Founder/Owner/Principal
Intelent Technologies, Inc.
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Startup
Location:
Salt Lake City
Industry:
Manufacturing
Year Founded:
2005
Number Employees:
1-10 people
Description:
Intelent Technologies is a five-year old consumer products firm selling award winning child safety products. We produce and sell the best child locators / tracking products on the market - named "Best Products to Protect your Child" by (URL removed), recipient of the "2007 iParenting Media Award" and named a "Must Have" for parents by Parenting Magazine and Baby Gizmo.
The Pain: Child safety - a major concern for parents w/ 800,000 children reported missing annually in the U.S. The Solution: Electronic child locators and tracking devices. Intelent's product line provides an easy-to-use, cost effective solution for keeping track of your small children and keeping them safe.
We have the experience and expertise, and know how to sell these products. The company has sold over 30,000 locator systems to-date, both online and traditional retail, domestically and internationally. Intelent just completed a new upgraded version 2 prototype implementing 5 years of consumer feedback, which will launch Jan. 2011. The company will ramp up to selling 300,000 units annually, with projected revenues at $10M. There are 300M children worldwide that fit our target demographic 18 mo. to 6 years old, whose parents or grandparents should be using our products.
We need $200k to fund product enhancement and inventory acquisition, marketing initiatives, and working capital. We have raised $1.08M to-date and are seeking 200k in short-term senior convertible debt financing, secured by assets and personally by company founder.