VST Enterprises Toasts Move To No. 1 Spinningfields
Manchester-based tech innovation firm, VST Enterprises has been recognised by four prestigious industry awards. 29-year old Louis-James Davis, VST Enterprises CEO, has been shortlisted for Young Entrepreneur of the Year in the NatWest Great British Entrepreneur Awards, and in this year’s Digital Entrepreneur Awards. Louis-James is also an Entrepreneur of the Year finalist in the Emerging Payments Awards, and Tech Leaders Awards. Continue reading
Cybersecurity firm VST Enterprises has teamed up with an international fashion business to provide scannable code technology for clothing, footwear and accessories.
Dewhirst will use the proprietary technology, VApparel, at the point of sale to enable speedy purchasing and instant related product information.
The VCode technology behind the textile project will also prevent international circulation of counterfeit products and enable garment traceability.
Significantly, the universal technology is not limited to existing Dewhirst clients and can be deployed by any garment and accessory manufacturer or retailer wishing to improve protection against counterfeiters and fraudsters.
Louis-James Davis, CEO of VST Enterprises, said: “Dewhirst has a predilection for value, ethics and innovation, and the partnership will bring this traditional but innovative fashion brand to the forefront of modern technology.
“Dewhirst is pioneering the use of this technology on wearable items across its international network and we plan to work together to use VApparel for many more applications in future.
“We are looking forward to defining new ways to apply the technology as our partnership evolves.”
The technology will combat counterfeiting, which provides a sustained and expensive threat to the fashion industry, and results in regular legal proceedings, product redesign and lost revenue.
The cost of counterfeit in the EU sporting goods market alone is estimated at over €500m per annum.
This loss of revenue contributed to 2,800 jobs in the sector being cut in 2015. Though cheaper, ‘fake’ fashion can seem like a good deal to consumers, it is consistently of lower quality and, when damaging chemicals are used during production, it can even prove fatal to the wearer.
Anthony Wood, CEO of Dewhirst, said: “VST Enterprises is one of the most innovative businesses that I have come across, and Louis is one of the most creative entrepreneurs that I have ever met.
“It will revolutionise engagement with the customer pre- and post-purchase, across sectors and geographies, ensuring quality, safe, genuine fashion.”
VApparel also enables the delivery of targeted offers and promotions to compliment loyalty programmes and marketing strategies.
VRCO agrees partnership with VST Enterprises for the use of VCode
Innovative cyber security firm VST Enterprises (VSTE), has today executed a Memorandum of Understanding on the use of VCode® on the Neo X Craft project led by VRCO Limited, which is supported by Derby University, The Institute for Innovation in Sustainable Engineering and the European Regional Development Fund.
VST Enterprises’ VCode® technology will provide secure end-to-end traceability, maintenance monitoring on aircraft, parts and components on VRCO’s low-emission, vertical take-off and landing autonomous flying vehicle.
VCode® is particularly suited to the Neo X Craft project as it can be scanned on or from a moving vehicle, from any angle and from great distances. While the vehicle is in prototype stage, VCode®’s flexibility will be indispensable, since permissions and data contained within the code can be altered to suit any developments that will emerge from testing and developing the craft. In addition to verifying identity, logging service records and tracing vehicles and parts, VCodes can be set to provide access only to users in a specified location.
Louis-James Davis, CEO at VST Enterprises, said: “VRCO is building an autonomous, aerial vehicle, and we are truly excited to deploy our adaptable, secure and versatile technology in such a future forward environment. Thanks to VRCO, a true personal VTOL craft will be available soon, and the benefits that VCode® can provide make it exactly the right choice for the vehicle of the future.”
Mike Smith, Chairman VRCO, said: “VCode® provides us with certainty around our craft, who flies them, which engineer works on them along with key metrics on operational hours down to the component level. The asset tracking and access control is a unique technology which we are delighted to adopt on our project. We can see many more applications for VCode® going forward.”
The Memorandum of Understanding covers the use of VCode to facilitate secure end-to-end traceability, maintenance monitoring on aircraft, parts and components. The unique features of VCode® will also enable authentication, service history intervals and warranties to be well managed. Further use of VCode® will cover pilot and engineer access and security.
VCode® is already being used to verify entitlement to benefits in India, as a method of payment for parking at 485,000 car park pay points across the UK, and to reduce fraud in the gaming industry.
VST Enterprises (VSTE), a pioneering cyber security firm has today announced a new multi-million pound deal with Sreeven Paytech, that will see the companies combine to eliminate fraud from the Indian benefit system.
VST Enterprises’ VCode® technology will provide strong authentication for the electronic benefit transfer system, benefitting 40 million households inititially. In addition, the companies will also be facilitating 2 million electronic financial transactions per month before expanding within the market.
An estimated $2bn is set to be saved for the Indian government by implementing the secure system. The VCode® system allows users to authenticate themselves and help fight against fraud, ensuring benefits and financial transactions reach the genuine recipients and not the fraudsters.
The opportunity will also add a minimum of £4bn of user value to VST Enterprises’ company worth. A comparison in tech terms to the recent Facebook IPO whereas 1 active user is valued at $100.00.
International Trade Secretary Liam Fox said:
“VST Enterprises is a prime example of how UK firms are seizing the numerous opportunities available in overseas markets.”
“India is one of the world’s biggest and fastest growing markets, which is why the Prime Minister and I recently led a delegation of businesses there. It’s great to see VST Enterprises follow that with a new contract which will use the best of British innovation to deliver huge benefits for India and for the UK.”
Louis-James Davis, CEO at VST Enterprises, added:
“At VSTE we believe in infinite possibilities, so are thrilled to secure a major new deal to authenticate payments and help eliminate fraud from the Indian benefit system.”
“Its great to see VST Enterprises follow the trade mission with a new contract which will use the best of British innovation to deliver huge benefits for India and for the UK.”
International Trade Secretary Dr Liam Fox
“Online security is a challenge facing large-scale government schemes across the world and VCode® will help provide faster payments quicker and safer than ever before.”
“We were honoured to join the Prime Minister’s trade mission to India and hope our technology can play a significant role in improving the lives of over 40 million households. And we hope this is just the beginning of our development into the Indian market.”
“The money saved for the government by implementing our system could provide life changing benefits to the population. India and could see new infrastructure, schools and a boost in their economy.”
K S Raju Managing Director,Sreeven Paytech Pvt Ltd, added:
“At Sreeven Paytech, quality is a continuous process that is reflected in the companies emphasis on improving technology and adopting global best practices to provide utmost quality deliverables to our clients.”
“We are excited to announce our joint venture company VEBT India Pvt Ltd with VST Enterprises for promoting their advanced VCode technology which can provide improved transparency in ‘electronic benifit transfer’ to protect against fraud and we are confident in bringing quick adoption of the VCode technology to India.”
“The recent developments in India with boosted online transactions has opened up various opportunities for VST Enterprises for creating custom solutions to multiple business verticals including media advertisement, healthcare, retail for loyalty and end-to-end traceability solutions to eliminate mainstream counterfeiting.”
The UK-India TECH Summit was hosted in New Delhi in November by the Prime Minister and her Indian counterpart, boosting hi-tech trade between India and the UK.
VST Enterprises’ VCode® technology allows genuine users to authenticate themselves across a variety of online transactions and interactions. It is currently being used to protect against fraud in many sectors, from document verification, to unattended car park payment systems, and interactive charitable-giving transactions.
“A pioneering Manchester firm is taking its cutting edge technology to India – alongside the Prime Minister.
VST Enterprises (VSTE) has been lauded for its development of VCode, which, among other applications, has the potential to revolutionise financial transactions on the internet.
The versatile VCode technology allows genuine users to authenticate themselves across a variety of online transactions and interactions. It is currently being utilised to protect against fraud in many sectors, from document verification, to unattended car park payment systems, and interactive charitable giving transactions. VSTE bosses are already planning expansions into Asia through their office in Singapore.
And their trip to India, which will see them board the new Prime Ministerial plane alongside Theresa May – will allow them to explore new markets in one of the world’s fastest growing economies.
Prime Minister Theresa May said:
“I know VSTE prides itself on its ‘infinite possibilities’ – and it is exactly that sort of optimism this country needs to power its economy.
“The internet is already part of our everyday lives, but we haven’t even scratched the surface of its potential.
“Manchester’s exciting tech industry is already sparking new ideas and new businesses and VSTE will be able to spread the word in India.”
VSTE will be joining other small and medium sized firms in seeking new business on the trip to one of the world’s biggest economies.
Louis-James Davies, CEO at VST Enterprises, said:
“We are truly delighted to be taking the next step towards international growth as part of the Prime Minister’s trade mission. We have come an incredibly long way in such a short amount of time and I believe this is due to the growing need for a solution like VCode across international markets and sectors. In India specifically it’s about providing assured online security across large-scale government schemes, such as ID cards and the benefit system. We hope our technology can play a key role in the deployment of such schemes and are looking forward to conversations around this in the days ahead.”
The visit will include South Asia’s largest tech fair. The UK-India TECH Summit will be hosted in New Delhi by the Prime Minister and her Indian counterpart. It is designed to help boost hi-tech trade between India and the UK.
The Prime Minister will use the Indian visit to deliver on the ambitious vision for Britain after Brexit she set out in a speech last month, forging a new global role for the UK as a country with the self-confidence and the freedom to look beyond the continent of Europe.
And she will use the visit to deliver on her pledge to create an economy that truly works for all, by introducing new and emerging enterprises, as well as more established players, to the key Indian market.”
“In a decisive move, UK-based VST Enterprises has announced the addition of two former Elavon Vice Presidents to its business development arm in the US. The experienced duo will be joining collectively under the company Relevant Payment Consulting.
Joseph Cohane, ex Executive Vice President, and Stephanie Sharp, ex Vice President and Controller of the leading payment processor, bring more than 40 years combined payments expertise and will be specialising in the financial transactions and fraud prevention functionality of VST Enterprises’ award-winning scanable symbol technology, VCode.
Designed and developed by entrepreneurial partners Louis-James Davis and Andy Giblin, the versatile VCode technology is currently being utilised across many sectors, from document verification, to unattended car park payment systems, and interactive charitable giving transactions.
Cohane comments: “I am very pleased to be joining VST Enterprises. My experience tells me that this business is one of few start-ups operating in the authentication space that has the genuine capability to transform lives, and unite security protocol across verticals. I am very excited to be able to play a part in its success.”
Sharp adds: “VCode presents a solution to security and authentication issues that continue to hinder the next generation of financial technology. The business is committed to international expansion so it will be really interesting to see the impact it has on the global payments arena. I have no doubt that this will just be the beginning of even bigger things to come from the team.”
The announcement comes on the back of the news that the company has opened a new office in New York, and will be opening a second U.S office in Reno later this year.
Louis-James Davis, chief executive and founder of VST Enterprises, says: “The addition of Joseph and Stephanie comes at a very important stage in our company’s progression, it marks further expansion to the U.S. and demonstrates our commitment to being experts in our vertical markets, such as payments.
“We’ve come an incredibly long way in such a short amount of time, I believe this is due to the growing need for a solution like VCode in the market. We’re delighted to be taking the next step towards offering our scanable, secure image technology to a global and varied customer base.”
The proprietary VCode app is compatible with all iOS and Android smart phones and tablets and, unlike traditional bar or QR codes, VCodes can be scanned from any screened media, from distances of up to 100m and virtually any angle. Furthermore, each code is completely unique to eliminate the problem of mainstream counterfeiting.”
“Manchester-based VST Enterprises has appointed 10 new sales consultants to its new business team, bringing its number of employees up to 30, in response to the company’s rapid growth and continued plans for expansion.
Based at various locations including the USA (New York, Reno & Chicago), India, Isle of Man, Singapore and Kuwait. The team will be responsible for liaising with blue chip companies and governments with the aim of creating opportunities for VST Enterprises’ versatile scanable technology, VCode, where it has the potential to revolutionise new industries.
The appointments come as the company reaches the final stages of its fifth round of funding at a £30m pre-money valuation, following the opening of its first US office in New York. The company is also due to open a second US office in Reno later this year.
VCode was developed by co-directors Louis-James Davis and Andy Gilbin and allows any mobile handset user to gain a range of information instantly and securely. By downloading the app, scanning a VCode takes the user directly to a company’s website or portal.
The versatile technology is currently being used to reform information delivery in many sectors including document delivery, car park payment systems, and oil shipping.
Louis-James Davis, chief executive and founder of VST Enterprises, says: “It has been an amazing year for the company and our expansion rate has been incredible considering we’re still in the start-up phase.
“It feels like now is the right time to expand our new business team, and I have no doubt that they will play a huge part in our goal to establish ourselves as a global leader in scanable technology.”
Among the new appointments is Ian Grieve, Gordon Livingstone and Timothy Wright III.
The VCode app is compatible with all iOS and Android smart phones and tablets and, unlike traditional bar or QR codes, VCodes can be scanned from any screened media, from distances of up to 100m and virtually any angle. Furthermore, each code is completely unique to eliminate the problem of mainstream counterfeiting.
For further information on VST Enterprises, please visit www.vstenterprises.com or to download the app, visit the App Store or Google Play.”
VST Enterprises is continuing its expansion, with the second senior board appointment in a matter of weeks.
Following Mike Farnan’s arrival at the start of the month, it’s announced that prominent US lawyer, Timothy Wright II will also join its executive board.
Wright is managing partner of Quintairos, Prieto, Wood & Boyer, P.A. in Chicago. He was Bill Clinton’s first director of domestic policy and has been a Presidential appointee in 3 Presidential administrations.
“I am excited to be a part of this team. What VST Enterprises has embarked upon is nothing short of revolutionary, and will have a major impact in the marketplace,” he stated.
He arrives as the Manchester firm expands into American, with a New York office opening at the end of September.
“Once again, we’re thrilled to be making the announcement of yet another high-calibre appointment to our growing executive board of directors,” added Louis-James Davis, CEO of VST Enterprises.
“Timothy’s undoubted experience and expertise in the energy sector and unrivalled public affairs knowledge adds several strings to our bow and signposts the start of a very exciting journey for the VST Enterprises team across the Atlantic.
“We’re already in discussions with key decision makers, making great inroads in to the sports, retail and security industries with our powerful and very unique product.”