Zaptap hoping to become leader in 2012

By Quentin Casey – Telegraph Journal | link to original article

For Yan Simard, 2012 will be a critical year.

Simard, the founder and CEO of Zaptap, says the coming year will see his Fredericton startup push from its current testing phase to full market penetration.

And the goal for 2012 is lofty: to make the company the market leader in its field.

Launched in June 2010, Zaptap uses special codes to trigger product information on smart phones.

Zaptap codes can be placed on or near any product, from beer to TVs. Customers then scan or “zap” the code with their smart phone. That action brings up everything from nutritional information to a history of the product. Videos, images, warranty information and technical specifications can all be linked to the code.

In other words, the code triggers whatever information the product manufacturer wants potential buyers to see. The idea is to entice the customer at a critical juncture: the “point of decision.”

“Eighty per cent of people make their final purchasing decision when they're standing in front of the shelf … even if they've done a lot of research before going to the store,” Simard says.

But Zaptap's technology goes further. Gleaning information from the customer's Facebook account, Zaptap is able to discern the age, gender and location of the potential buyer. That information, Simard says, gives the beer producer or TV manufacturer a better sense of who covets their product. The technology also tracks, in real time, which items are being scanned and in which locations.

Simard, originally from Quebec, started researching the Zaptap concept in 2010.

In August 2010, his fledgling company entered propelICT, a New Brunswick business incubator that connects startups with mentors and angel investors.

A key moment arrived last March, when Zaptap (then known as airMe) nabbed second place at, the New Brunswick Innovation Foundation's Breakthru business plan competition.

Zaptap netted $50,000 from the NBIF, and its strong finish attracted the attention of other investors. In all, the company has raised $225,000.

The first prominent angel to put up cash was Gerry Pond, whose investments span about a dozen Maritime startups. Pond, the chairman of Mariner, a Saint John-based IT company, was the initial investor in Radian6.

“Zaptap has a great team, good timing to market and large growth opportunity,” Pond says. “It's the next wave of how information is exchanged in retail stores, with hooks to social media.”

At this point, Zaptap's technology is still in a trial phase. But the company could have 50 large clients by the end of 2012, Simard says. The new year will bring the announcement of some “big” agreements, he adds.

Zaptap is now preparing to wade into what Simard says is a multibillion-dollar global market. And so far the sector lacks a dominant player.

“One company will probably emerge as the market leader … it's really up to us to execute well in 2012 so that we get that market lead,” says the 37-year-old, who holds an MBA in IT Management from Université Laval. “We don't have it as of today. But that's our goal for 2012.”