TeknTrash fulfils the current critical gap in consumption data.
In a world where consumer data exists in abundance, there still seems to be a deficiency of insight. CPG companies globally have invested in digital transformation across their entire business in order to understand and keep pace with the ever changing behaviours of today’s consumers. However, there is still an absence of knowledge when it comes to the full product lifecycle.
TeknTrash focuses on the product disposal process, generally our household recycling, in order to capture this data. TeknTrash have built a product called Stipra, an App powered by AI which recognises individual products at points of disposal and provides valuable information on when, where and how frequently the product is being consumed. As a result, brands are able to understand much more about the journey of their products once it leaves the shelf.
Brands use this post sales data to understand how and what products are being consumed in certain geographies and by who in order to drive efficiencies in distribution, sales volume, retailer partnerships and so on. This is also a product designed to shine a spotlight on the tragedy of global waste, yet provides a solution for both brands and consumers to invest more to help solve one of the planets biggest issues and reap the rewards for that.
Brands engage with the Stipra program by registering a campaign in Stipra.Corp, they issue the loyalty points for each product registered in return for access to the consumption data. The Stipra.Corp environment is a SaaS platform and the key revenue driver for TeknTrash. Brands will pay for the points allocated to each product within each campaign. The consumption behaviour of these products are then tracked and monitored in real time. The data will display geolocation of disposal, time in which it was disposed and the age and gender of the consumer. Brands are able to extract this data into a csv file and then compare it to sales data for that same product, effectively enabling them to identify key behavioural patterns. Each time a product is located and matched back to a campaign set up by a brand, the consumer earns the loyalty points back through the App.
The company is led by a passionate founder Al Costa, who fundamentally believes that the waste issues on this planet should be dealt with at a global level, supported by tech and innovation in order to facilitate a greater awareness and accountability among brands and consumers alike. Al believes the waste and recycling model needs to be flipped, consumers should be rewarded for good habits rather than penalised for bad ones, the old carrot and stick model still works!
TeknTrash has been recognised widely for its ingenuity, it has been is a finalist in the Red Herring Top 100 start-ups in Europe. The company also took part in Microsofts programme for Startups and received US$30K in cloud credits.
TeknTrash is equally looking to future product development with the introduction of smart bins and cameras at recycling centres for those who regularly dispose of their waste and recycling in that way. Stipra is just the first of many solutions which will be designed to obtain consumption data from all possible sources available.