Global Shaper 2013: ScanTrust, protecting brands from counterfeiting
29.11.2017
This summer we asked you to vote for your favorite of our supported startups from the past 10 years: those that you felt had the power to change the world. We announced our Global Shapers at our 10 year anniversary event on 29th November and will update you with them on our website throughout December.
 ScanTrust
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PROTECTING BRANDS FROM COUNTERFEITING
In 2013, the global trade in counterfeit products was estimated to be worth nearly half a trillion dollars per year, making up approximately 2.5% of all global imports. Companies struggle to protect brands against loss of both revenue and brand confidence, as well as with keeping customers from purchasing dangerous goods. The EPFL-based company ScanTrust is taking an innovative approach to combating counterfeiters. Inspired by the simple idea that every consumer should know whether the products they use are genuine or not, its team have spent their careers finding ways to protect products and have invented a truly secure solution that enables mobile product authentication. This means that customers can easily use their smartphone to scan an item’s 2D barcode and receive validation before purchasing it. Brands can then engage consumers directly using responsive webpages, and can also analyze data regarding illicit trade or grey market activity.
TRUST, TRANSPARENCY &TRACEABILITY
Since its creation in 2014, ScanTrust has rapidly grown to become the leading Swiss provider of secure mobile authentication and traceability solutions. Their innovative mobile solution for on-the-spot authentication of goods is built around its patent-protected secure 2D (QR and Data Matrix) code technology that affixes unique, trackable codes to indi¬vidual products. This industry-leading technology is combined with a cloud-based software and analytics suite, so that when this 2D code is attached or printed on a product, a consumer can use a 3rd-party scanning app or download the ScanTrust app, scan the barcode themselves and, depending on the result, make their purchase safe in the knowledge that what they are buying is authentic. For brands, the process also serves to build trust with their custom¬ers - and retain it. Once a consumer has scanned a ScanTrust code, brands can directly engage their consumers with educational content, warranty reg¬istrations, promotional events, etc.
GLOBAL PIRACY, GLOBAL COMPANY
In 2015, ScanTrust closed a CHF 1.4m round of initial seed funding and currently has offices in Lausanne, Shanghai and Bangkok. In 2017, the company announced two very large deals: the first with Leybold, who will use ScanTrust’s QR codes on all products globally; and the second with the National Seeds Institute of Argentina (INASE) for security stamp labels to protect farmers against counterfeit seeds. Millions of labels are already on the market, with expansion into more crop varieties planned for 2018. A number of other deals have been signed with Global Fortune 1000 companies. ScanTrust is also a new member of Hyperledger, a project of the Linux Foundation that is a global alliance of companies that collaborate to advance cross-industry blockchain technologies in industries such as finance, banking, IoT, supply chain, manufacturing and technology.
Venture Kick has been a vital part of ScanTrust’s growth, with the startup winning the program’s final in 2014 and participating in a high-powered interna¬tional investor’s roadshow in the US the same year. CTO and Co-Founder Justin Picard said: “Venture Kick is a unique program for startups: the structure of the process allows measurement of the progress made and the kickers camps are opportunities to address difficult questions. The program is a phe-nomenal way to meet investors, gain visibility and grow your startup on a global level.”
See what people are saying on Twitter using the hashtags #10YVentureKick for our anniversary and #VentureKickGS for our Global Shapers
In 2013, the global trade in counterfeit products was estimated to be worth nearly half a trillion dollars per year, making up approximately 2.5% of all global imports. Companies struggle to protect brands against loss of both revenue and brand confidence, as well as with keeping customers from purchasing dangerous goods. The EPFL-based company ScanTrust is taking an innovative approach to combating counterfeiters. Inspired by the simple idea that every consumer should know whether the products they use are genuine or not, its team have spent their careers finding ways to protect products and have invented a truly secure solution that enables mobile product authentication. This means that customers can easily use their smartphone to scan an item’s 2D barcode and receive validation before purchasing it. Brands can then engage consumers directly using responsive webpages, and can also analyze data regarding illicit trade or grey market activity.
TRUST, TRANSPARENCY &TRACEABILITY
Since its creation in 2014, ScanTrust has rapidly grown to become the leading Swiss provider of secure mobile authentication and traceability solutions. Their innovative mobile solution for on-the-spot authentication of goods is built around its patent-protected secure 2D (QR and Data Matrix) code technology that affixes unique, trackable codes to indi¬vidual products. This industry-leading technology is combined with a cloud-based software and analytics suite, so that when this 2D code is attached or printed on a product, a consumer can use a 3rd-party scanning app or download the ScanTrust app, scan the barcode themselves and, depending on the result, make their purchase safe in the knowledge that what they are buying is authentic. For brands, the process also serves to build trust with their custom¬ers - and retain it. Once a consumer has scanned a ScanTrust code, brands can directly engage their consumers with educational content, warranty reg¬istrations, promotional events, etc.
GLOBAL PIRACY, GLOBAL COMPANY
In 2015, ScanTrust closed a CHF 1.4m round of initial seed funding and currently has offices in Lausanne, Shanghai and Bangkok. In 2017, the company announced two very large deals: the first with Leybold, who will use ScanTrust’s QR codes on all products globally; and the second with the National Seeds Institute of Argentina (INASE) for security stamp labels to protect farmers against counterfeit seeds. Millions of labels are already on the market, with expansion into more crop varieties planned for 2018. A number of other deals have been signed with Global Fortune 1000 companies. ScanTrust is also a new member of Hyperledger, a project of the Linux Foundation that is a global alliance of companies that collaborate to advance cross-industry blockchain technologies in industries such as finance, banking, IoT, supply chain, manufacturing and technology.
Venture Kick has been a vital part of ScanTrust’s growth, with the startup winning the program’s final in 2014 and participating in a high-powered interna¬tional investor’s roadshow in the US the same year. CTO and Co-Founder Justin Picard said: “Venture Kick is a unique program for startups: the structure of the process allows measurement of the progress made and the kickers camps are opportunities to address difficult questions. The program is a phe-nomenal way to meet investors, gain visibility and grow your startup on a global level.”
See what people are saying on Twitter using the hashtags #10YVentureKick for our anniversary and #VentureKickGS for our Global Shapers