A WIFI device that unlocks internet connections has won its inventor £10,000 at this year’s Student Enterprise Summit, organised by Scottish Institute for Enterprise (SIE).
By unlocking connections, the device allows users to access websites that limit access based on location, such as video streaming sites.
“I see it as a content passport,” said Paul McGinley, a University of Strathclyde Business Enterprise and Marketing graduate and the man behind the Pyramid WiFi device. “The device allows people, when they are abroad, to access content that they’ve already paid for, whether that’s through their TV licence or a subscription service.”
Out of 350 entries to SIE’s New Ventures and Fresh Ideas student enterprise competitions, 30 pitched to a panel of expert judges and eight business ideas were awarded, with a total prize fund of more than £20,000.
The Pyramid device lifts restrictions on over 300 channels including the likes of Netflix, Sky and BBC iPlayer. There is no software to install or configure, while the technology can also create a “cloak”, which secures the user’s privacy from website trackers.
Mr McGinley aims to retail the product at £50 with a £3 monthly subscriptions. He is currently seeking investment through grants, and plans to launch a crowdfunding initiative. If successful, he will launch the product internationally in 2017 and seek equity funding.
Fiona Godsman, chief executive of event organiser SIE, said: “The Student Enterprise Summit is a fantastic opportunity for young people across the country to meet like-minded people and to hear the inspirational stories of successful Scottish business figures and learn how an idea can grow into a success.
Gary Newton, Regional Manager, Retail Business Banking at Bank of Scotland, who sponsored the New Venture award, added: “Support at this early stage will help today’s young entrepreneurs grow into the business leaders of tomorrow and we are keen to help them succeed.”
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