SkyREC is the Google Analytic for retailers. The Taiwanese startup utilises video analysis along with Artificial Intelligence (AI) technology to gather vital information regarding customer behaviour and identify in-store issues, thus improving the overall retail performance. Last year, they won the Slush Tokyo Pitch Contest.
The idea behind SkyREC came from massive demand in a niche market. The team had been in the surveillance industry for over 15 years and was facing the same questions over and over again: “Lots of desperate managers came to us asking ‘What is wrong with my store operations? What can I learn from my customers’ interaction in the store? Can you do what Google Analytics does for e-commerce?’ And there we saw a great opportunity,” tells us Catie Xie, Co-Founder and Chief Business Development Officer of SkyREC.
SkyREC is the winner of last year’s Slush Tokyo Pitch Contest. A feat that has expanded the startup’s horizons: “Although we worked with famous, international retailers in the past, SkyREC was an unknown team. The success at Slush Tokyo gave us publicity; we met our angel investors, expanded in the APAC, European, and local markets.”
The Slush Pitch Contest could prove to be challenging for participants. Xie sheds some light on the attitude needed for success and offers some advice when dealing with the judges’ questions: “Highlight your products and ideas’ potential. Keep in mind, you can always turn things around by giving the appropriate answers.”
The SkyREC team is now diverting attention to the future and looking to lead Asian startups towards global exposure. “From the Western perspective, startups in Asia are better at making Apps and working in social media and delivery services. We want to prove that we can do more than that.”
According to Xie, the potential in Asian startups is higher. “I expect to see more creative ideas, more development in AI and B2B related businesses. I look forward to seeing startups stepping outside their comfort zone and conquering the world!”