Innovative Ideals and Services India Ltd. introduced the concept of home security for the first time in the India with the launch of Video Door Phones in 1994. Prior to this, the electronics security and surveillance systems industry was highly unorganized with no concept of maintenance or after-sales-services. Gradually, Innovative Ideals and Services moved into the digital domain by introducing multi-apartment models based on digital technology and recently introduced safety gadgets designed for children and women.
Yash Ved of NewsBarons provides the highlights of an interaction with Maqsood Shaikh, Director – Innovative Ideals and Services India Ltd., who informed ‘Our products provide innovative checks towards child and women Safety’.
NB: What is the size of Video Door Phone (VDP) market in India?
Maqsood: The VDP growth is dependent on the growth of the real estate sector as this sector is one of the largest buyers of VDP. With the increase in real estate property rates and safety concerns, VDP, once a premium amenity, has become a common feature in residential amenities list. This has boosted the market size of VDP in India.
About 600% of the newly constructed buildings in India have one or the other form of video door phones. Between FY2013 and FY2016, the imports of video phones jumped from $948 million to $2.30 billion registering a growth of 142.41%.
NB: What are the new products are you planning to launch?
Maqsood: Crime against women and children is a huge concern and we have seen spurt in them in the last few years. Innovative has designed products for each of these problems: ArmHer for women’s safety and Savior for child safety.
There are smartphone apps for emergencies but their effectiveness can be questioned in real life situations as mobile phone are the first thing to be snatched by the criminal. Understanding these situations, Innovative has launched India’s first smart security device for women ‘ArmHer’, a safety device designed like a key chain, which is handy to carry and easy to reach during emergencies. All one has to do is press the switch and five SMSs and five emails with geolocation will be sent to the person’s friends.
Similarly, Savior has been designed for child safety. With Savior, the child is always connected to the parents informing them about the child’s whereabouts at all times. The product is designed like a wristband and comes with an inbuilt GSM tracker with 2-way calling facility plus an SOS button, all of which transmit the child’s geolocation.
NB: Your focus area going forward?
Maqsood: We have been focusing on the B2B market for over two and half decades in providing electronic security solutions to real estate industry & corporate sector. We are now looking at entering the B2C by providing Innovative security solutions across categories like women security and Children security.
NB: Which are your expansion plans?
Maqsood: We are looking at a pan India expansion with our two new B2C products ArmHer and Saviour. We are looking at using the online medium for brand promotion and also use our etailer site ‘Apun ki Shop’ to showcase and sell our products.
However, in the first phase, we will foray into metro cities and this will be followed by tier II and tier III cities.
NB: What are your plans for Indian and international market?
Maqsood: INNOVATIVE has a vertical for exports to various countries around the globe for their requirements. We plan to create a strong network through international tie-ups to introduce our range of products in the international market as there is huge potential and need for the same.
NB: Brief us about your IPO plans?How much are you raising via IPO?
Maqsood: Being a SME in the electronic security industry, we have strong plans to raise capital through IPO. The funds will use to create a pan India network to offer our high tech Innovative security devices and introducing new products over time.