Halifax firm seeks financing to bring speech recognition technology to market

A Halifax-based start-up is finalizing a new speech recognition product that lets mobile workers tap into corporate data using only their cell phone. Developed by OKAMLogic, the Wireless Voice Commerce Gateway is in beta tests with Aliant Telecom and should hit the market early next year. OKAMLogic’s patent-pending technology is targeted at mobile workers in the energy and utilities sector that can’t be bothered to carry a laptop or learn how to use a PDA. And unlike other applications that can only access email from a wireless phone, company president and CEO Scott Thomas says the company’s technology enables mobile workers to report and publish information captured in the field. Thomas uses the example of construction inspectors who need to communicate the daily progress of a particular project, including the use of equipment and materials. "It allows them to manage the project better with more timely information," he says. Thomas is reluctant to give too many specifics on the type of applications and how the technology works until the company receives a patent for the technology. Aliant recognized early on the potential of such an offering and gave money to the Nova Scotia company as part of its wireless R&D fund. That investment has given OKAMLogic enough working capital to complete testing and development. What the company needs now, according to Thomas, is growth capital. In May, the company headed to Toronto in search of venture financing from an established organization that can help raise OKAMLogic’s profile, and act as an advisor and objective "observer". The ideal investor would also be one that understands the marketplace and can validate the start-up’s strategy, he adds. The company isn’t expecting to generate a sustainable revenue stream until its product hits the market next year. "With the injection of financing we’re expecting to get in the near future, we’ll be able to gear up to get that revenue stream," Thomas told Report on Wireless. Technology uses existing wireless networks Speech or voice recognition technology has advanced significantly over the past year. Thomas says much of this focus has been on the user interface, which when combined with more powerful computer power, results in a device that can handle the complex algorithms required in voice recognition products. "What it means is the barriers that were associated with first- and second-generation speech recognition technology have been surpassed and can now reach real-time mission critical applications in the business world," says Thomas, whose company develops its technology in-house. The complexity of the technology will be transparent to the user, however. Thomson says the product is simple to use, making it an effective tool to market to mobile workers. The technology also operates on existing wireless networks, providing workers with secure two-way access to enterprise systems from any phone. As Thomson notes, "(users) don’t want another new device. Their environment and work space is not conducive to having another device (to carry), be it a ruggedized laptop or a PDA, or some other device that requires them to manage it."

Halifax firm seeks financing to bring speech recognition technology to market

News | July 24, 2001

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