Everybody should be able to afford extra security in their lives! live on Indiegogo just Ask Me Anything!

Þröstur M Sveinsson
Nov 9, 2017

Me and my partner wanted to build a home security system that everybody (or at least most people) could afford. So we did exactly that! We actually ended up building a physical alarm as well as a platform that combines home, personal and neighborhood security in one solution, then we teamed up with The Mountain from GoT and now Fynoti is crowdfunding on Indiegogo where people can buy one for as low as $9. The platform is in beta on Google Play and is coming to AppStore within 2 weeks. 

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How does it work from a mobile app?

Nov 9, 5:56AM EST0

You control your Fynoti alarm through the app (Turn it on/off etc.). The app has two features as well, Neighborhood watch feature called "Shout!" which automatically connects users in the same area together. You can use Shout! to warn people in your area of possible threats or suspicious activities.The other feature is called "Panic!" which you can use when you are in danger. If you press Panic!, people closest to your location will get notified that you need help. That notification includes your profile picture, name, your location, telefon number and extra information you can choose to add in your Panic profile. 

Nov 10, 2:53AM EST0
Show all 4 replies

Do you need betatester?

Nov 9, 4:35AM EST0

We are always looking for testers, especially to try out our platform. We have a beta version on Google Play and we will release on Appstore within few days.

Nov 10, 2:42AM EST0

How useful are your products to the community?

Nov 8, 11:35PM EST0

Fynoti provides a product and a platform that encourages people to work together keeping their neighborhood safe. I think it's safe to say that Fynoti is highly useful to the community :)

Nov 10, 2:37AM EST0

Have you approached large chain shops or retail outlets to pitch the idea to them - backers want to see groundwork before they invest!

Nov 7, 8:21PM EST1

No we haven't. But since we went live with our campaign we have been contacted by numerous distributors that are interested in getting Fynoti in stores.One of the reasons we decided to crowdfund was to get feedback and to see if there is a market for a product like Fynoti. If we get many backers we will stand stronger when and if we choose to talk with retailers. 

Nov 8, 9:24AM EST1

What are other effective platforms for launching campaigns aside from crowdfunding sites?

Nov 7, 5:58PM EST1

Well it's hard for me to say as we haven't launched anywhere else. 

Nov 8, 9:18AM EST0

Have you approached any famous people or other influencers to use your product and market in this way?

Nov 7, 5:58PM EST1

We did team up with The Mountain from Game of Thrones who played in our promo video. Other than that we haven't. We have approached some influencers but no deals have been made yet.

Nov 8, 9:16AM EST0

What advice would you give to anyone else looking to create their first crowdfunding project?

Nov 7, 3:31PM EST1

Nr. 1, 2 and 3, Build a strong community before you launch. Start NOW to build your email list, create Facebook page, Instagram, Twitter etc. and engage with your supporters. Those are the ones that will kickstart your campaign from day one. Keep in mind that you need to get 30% of your goal in the first 24 hours, if not,your changes of success will fall drastically.

Nov 8, 9:11AM EST0

Where are you from?

Nov 7, 3:06PM EST1

Hi Katerina, 

I am from Iceland but been living in Denmark for the past 5 years :)

Nov 8, 9:02AM EST0

What do you feel the biggest benefits of having your security systems are?

Nov 7, 12:54PM EST1

When you buy Fynoti the system is yours. You don't have to pay any monthly fees. I consider the platform (the Fynoti app) as the biggest benefits as it allows you to connect your alarm with your neighbors.

The advanced neighborhood watch feature "Shout!" is going to bring a lot of value to our users as well as it automatically connects people in the same area together so they can help each other out keeping their neighborhood safer

Nov 8, 9:31AM EST0

How often do crowdfunding campaigns get successful than not?

Nov 7, 11:33AM EST1

Hi Giada, 

Unfurtunetaly not often enough. According to this article, Kickstarter had the highest success rate in 2015, 31%. So there are a lot of campaigns that never reach their goals.

Nov 8, 9:02AM EST0

Where did you find out about the concept of crowdfunding?

Nov 7, 9:15AM EST1

It was one late summer night in July.....No just kiddin'.  I  have been following both Indiegogo and Kickstarter for many many years. I can't really remember when or where I found out about it. 

Nov 7, 9:23AM EST0

Who could benefit from this security system?

Nov 7, 8:35AM EST1

Everybody that is living in an apartment/house can benefit from Fynoti. The Fynoti alarm is made to be cheap so most people could afford it. But what we believe will bring most value to people is the neighborhood watch feature in the app which will become a powerfool tool when a lot of people in your area have the Fynoti app.

Nov 7, 8:40AM EST0

What's with crowdfunding that made you choose it as a platform to promote your cause?

Nov 7, 8:27AM EST1

Mainly because we wanted to see how people would react to Fynoti. Crowdfunding is a great way to conduct a market research and to find out if there is actually a market for your product.

Nov 7, 8:35AM EST0

What are your back-up plans if your crowdfunding campaign fails?

Nov 7, 5:44AM EST1

The backup plan is to gather all the feedback we have gotten from both backers and non-backers and go back to the drawing board. Make some changes and then come back stronger than before.

Nov 7, 7:32AM EST0

When and how did you think of this idea?

Nov 7, 5:22AM EST1

We saw a hole in the market as security systems are expensive. There is a huge group that is left out simply because they can't afford to buy a security system or they just don't want to pay the price. We got the idea late last year.

Nov 7, 8:27AM EST0

Have you considered trying to make a viral video on YouTube to gain followers and investors?

Nov 7, 1:14AM EST1

Yes we have, the problem with viral videos is that there is no recipe for making one :) ....if it was then I guess everybody would be making one. We decided to team up with The Mountain from Game of Thrones as we hoped that would bring a lot of attention to our campaign, and we are quite happy with the way things have been going. We will continue to think of something new and hopefully we will hit that one that goes viral.

Nov 7, 8:33AM EST0

How different do you feel your concept is compared to anything else out there right now?

Nov 7, 1:02AM EST1

Fynoti is an IoT device, a "Smart alarm", there isn't any innovation behind that as you can buy a lot of smart alarms today. The thing that differentiates Fynoti from the competitors is the price, you can buy a Fynoti for as low as $9. Another thing that makes us different is the platform we have, which not only covers your home security but also your neighborhood and personal security.

Last edited @ Nov 7, 7:30AM EST.
Nov 7, 7:30AM EST0

Have you attended any well-known events that could help you gain exposure for your crowdfunding sites?

Nov 7, 12:36AM EST1

We have used a lot of time and effort on marketing Fynoti online, creating a community, but we haven't attended any well-known events. There aren't really many to choose from here in Denmark :)

Nov 7, 7:26AM EST0

How many have you sold so far?

Nov 6, 9:33PM EST1

At the time this is written we have sold over 700 alarms, we expect to have sold around 5.000 when the month is over. :)

Last edited @ Nov 10, 2:58AM EST.
Nov 7, 8:42AM EST0

Where did you learn about security systems?

Nov 6, 8:42PM EST1

Hi Rebekah, Well I have had security systems for the last few years at home but after we started working at building Fynoti I have spent countless ours in research different systems, find out how they work, tear them apart to see the inside :) ....So I learnt from studying each system.

Nov 7, 7:22AM EST0
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