10.12-13.22-DigitalTech-Ennoventure

MICHELE CARDELLO: Good afternoon, everyone. It's an honor and privilege to be here with you all today on behalf of InnoVenture. InnoVenture was founded out of MIT by our CEO Padmakumar Nair as well as our CTO Shalini Nair. And the problem that we solve for is actually to combat counterfeit products in the global marketplace.

Unfortunately today, counterfeits can be found everywhere. And they affect everyone in our daily lives. There are more bad actors every year proliferating counterfeit products that impact unsuspecting customers as well as reputable brands.

Here are the facts. Every year, fake products cause devastating consequences with lasting implications, causing irreparable harm and damage. There's a tremendous human cost as well as a financial impact.

Existing anticounterfeit technologies often are very difficult to implement. They're costly. They are very difficult to deploy. They can be copied. And they can be hacked. These technologies are very difficult to really implement.

But InnoVenture actually employs design thinking to solve everyday problems. Simply put, we transform analog packaging into digital smart packaging for brand protection, global tracking, and brand engagement. InnoVenture's patented technology protects brands and their customers from counterfeits by providing the ability to authenticate the product via the product packaging.

Our solution is easy. It's accessible. And most importantly, it's available to anyone with a smartphone. We use cryptography, machine learning, and AI to digitally encrypt existing packaging artwork, making it scannable by smartphone, allowing the customer to authenticate the product. We put the power of authentication into your customers' hands.

For brand owners, there's zero change to existing processes and, more importantly, artwork. It's highly scalable. It's easy to deploy. And it also promotes circular economy. An added benefit is we're not adding any additional consumable to your product packaging. And there's no time-- downtime, excuse me, in terms of production.

InnoVenture can encrypt any material using any production methodology, meaning it's very quick to implement and deploy. It's also very cost-effective in terms of being able to add the cost of the solution into your cost of goods sold.

Our AI-powered, cloud-based solution protects, connects, and empowers everyone throughout the value chain. There is visibility and traceability.

As a testament, Nestle deployed our technology to help mitigate counterfeit Maggi Masala, which is a relatively inexpensive foodstuff, which had flooded the Southeast Asian market. Nestle launched a national television campaign. They educated their customers to scan the product, authenticate. And then, most importantly, Nestle was able to engage directly with the customer by providing rich, value-added content and an enhanced customer experience.

To date, our encryptions have been deployed on over 7 billion Nestle Maggi packets with a scan rate of 15% for one 1 million-plus scans. Nestle Global has since recommended InnoVenture to its entire portfolio for our authentication and anticounterfeit technology.

InnoVenture partners directly with global brands all over the world, but we're also seeking partners in different channels, such as brand agencies, contract manufacturers, print service providers, as well as 3- and 4PLS.

One thought as I leave, the most profound technologies are those that disappear. They weave themselves into the fabric of everyday life until they are indistinguishable from it. Thank you very much. It's been an honor to be here today. And I look forward to sharing more with you during lunch.

SPEAKER 2: Thank you Michele.

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