The idea for Socket Paint came from a team effort while brainstorming. Our initial thought was... what would happen if we had a long life cycle chemical reaction that provided light in a more economical way than current lighting? What if the product was carbon negative and actually made the world a better place? What if that reaction could be done using paint as the carrier, as the way of distributing the light anywhere inside or outside? In places where there was no electricity. What if the paint actually became a replacement for light bulbs and electricity?
There's a lot of "What-ifs". But we've done this before... the creating of something just from an idea. We're a tight team of entrepreneurs that know how to solve problems. And creating Socket Paint is worth the time.
There's a lot of darkness. Tremendous resources and money are spent making indoor and outdoor spaces brighter and more visible using light-bulbs and electricity. Current paints act as covering, design, and visual cues, but falls short of its potential.
Create Socket Paint, which provides the equivalent ambient light of a standard light bulb.
Socket Paint will eliminate much of the need for existing light bulbs in many real estate uses such as commercial and residential hallways. It will save valuable natural resources that would otherwise be spent generating electricity, and provide a low-cost way to light anything from schools, factories, stores, and office buildings to the insides of trucks, trains, road signs and warehouses. There's huge potential impact to low-income people in undeveloped parts of the world that don't have access to electricity. Because Socket Paint will be carbon negative, and have a positive environmental impact.
The potential market for Socket Paint is huge. The worldwide market for Paint is valued at more than $180 Billion Annually. The worldwide market for Light bulbs is valued at more than $110 Billion Annually. Socket Paint is not a replacement for standard paint nor is it a replacement for lighting where on/off selection is needed. Yet there is a wide field of potential uses that fit within both of these markets that demonstrate the potential of Socket Paint for being a billion dollar plus company.
Competition for lighting is intense. The lighting industry is undergoing a rapid transformation to the use of LEDs as the primary lighting source. LEDs can last 5 years of non-stop use and last 50 times longer than incandescent bulbs. LEDs last 3-7 times longer then fluorescent bulbs. LEDs pricing has dropped considerably and a benefit of their use is the reduction in CO2 emissions vs other bulb types. While we see the existing lighting competition as being deeply entrenched, we also believe Socket Paint has numerous advantages, including having a longer life cycle of ten years, it can be applied almost anywhere, carbon negativity (Socket Paint actually removes carbon from the air), and zero cost for electricity. Lighting accounts for 15% of the total electric bill. Socket Paint reduces this dramatically.
We expect to manufacture Socket Paint In-house vs outsourcing. We feel that internal manufacturing allows better control of growth, gives us the ability to be flexible and scale distribution quickly, and balances possible cash flow issues due to growth. We really see a two stage approach after development for sales and distribution. Socket Paint is built to have direct to consumer appeal and we think this route needs to be taken initially. The direct to consumer approach is faster, has the potential to be viral, and will pave the way for longer cycle industrial type sales.