Startup Analysis of MyGate

1. Startup Analysis : MyGate
A security and community management app.
An analysis of various aspects of the startup.

2. How does the company solve problems?
It provides an app that acts as an interface between various actors like security guards,
dwellers, etc and provides a platform to resolve various issues like booking of a facility
inside the community or complaining about a problem. It also ensures hassle free
movement by letting gate guards know expected visitors in advance.
It also provides options to make online payments for members of communities and
track them.

3. Product overview
MyGate is a platform that is changing the face of security management services for gated
communities.
Residents can use the MyGate app to communicate with neighbours, discuss matters of the
community and society on internal discussion forums, manage visitors (guests, deliveries,
cabs etc.), maintain attendance record, and salary payments for daily help, discover services,
pay society maintenance bills, among much else.
MyGate have its headquarters in Bengaluru ,also it was launched in Bengaluru.
MyGate is currently operational in 18 cities in India.

4. Problems solved by MyGate:
● Unauthorized entry of delivery executives
● Paying medical bills
● Raising a ticket to the family manager
● Resolve complaints
● Connectivity issues with the guards
● Hurdle of collection of payments

5. Revenue model
● MyGate's revenue model is subscription-based.
● Major revenue is earned by selling the product to builders, and
resident welfare associations to manage their security as well as
community services.
● It’s monthly pricing depends on the number of houses in the society.
● It costs an apartment about INR 20 (28 cents) per month. Thus, the cost of
MyGate's services comes down to an average of INR 6000-INR 10,000 per
community every month.
● MyGate claims to process over 60,000 requests per minute and
facilitates over 45 million check-in requests every month.
● In fiscal year ended 2019, MyGate’s revenue jumped more than three-
fold to nearly Rs 7 crore.

6. Target Audience
1. Housing societies
2. Other gated communities like schools, hostels ec.
3. Security guards ( helps them to easily swap their slots)
4. Domestic helps, (app maintains a review and rating system for them)

7. Market Validation
Market problem - Difficulty to manage everything to manage everything on a single platform in
any society.
Product concept - An online application to manage all the things in an easy to use manner.
Market opportunity - Increasing pace of urbanisation, building of new societies, people wanting
to save their time and become more organised, competitors are there, but market size is very
large.
Minimum value product - To complete all the needs of society management services with decent
level of security at affordable rates.
Customer acquisition - Marketing through youtube and advertisements on different social media
platforms
Target first customers is any gated society.

8. SWOT ANALYSIS OF ‘MYGATE’
In upcoming slides we are analysing the strengths,
weaknesses, opportunities and threats in the
context of Mygate.

9. Strengths
1. Excellent customer care service and complaint redressal system.
2. Application is very user friendly.
3. Service is very affordable, cost being INR 20 per-month per apartment.
Really affordable.
4. It trains the security guards of the societies, and even retrains if there is a
change in staff. It ensures that the benefits are not limited just to handful
of tech-savvy people.

10. Weaknesses
1. Doesn’t offer personalised notifications- same notifications are shown to all members of
family. Thus not always suitable for big joint families as all members may not like to
disclose to all family members what they are ordering, or when they are calling
someone home.
2. It collects a lot of user personal data which individuals would not like to disclose
3. It is a tedious and not a user friendly process for the visitors to get their name and
phone number deleted once they are done with their work.
4. Not completely reliable, needs manpower to be engaged for security purpose.
5. It is not a complete substitute to security and physical barriers , also it is not integrated
with cctv system.

11. Opportunities
1. Keeping in mind the increased pace of urbanisation and try to tap all new
city dwellers.
2. Inclusion of new techs like AI and IoT, to provide services to those smaller
apartments, homes, etc., that do not have manned security.
3. Integration with machine based security system to notify, alert about
suspicious activities, potentially dangerous visitors, that can be more
reliable than fallible humans may increase the efficacy of MyGate.

12. Threats
1. With increasing privacy consciousness among people there is a possibility that some laws may come
that regulates data collection and usage more strictly, thereby affecting the current way of working of
Mygate.
2. Fierce competition in the market posed by similar apps of big corporates like Reliance, etc.

13. Competitors:
Envoy
Envoy allows you to manage everything in your space from a single location, redefining how offices interact with
visitors, ensure employee health and safety, book conference rooms, and manage deliveries in over 13,000
locations . It allows to book conference rooms, manage room capacity, and quickly enable contact tracing all
from one place.
Spacewell
It features user empowerment through self-service functionality, fast activation & configurable workflows, smart
services & real-time data from Iot ( internet of things) ,mobile apps with powerful in-field capabilities;
standardized space analysis & benchmarking; rightsizing workspace & services.
Routific
Routific is a route planning software for small fleets. It makes managing local delivery routes
effortless and profitable.
Gate Key
It reduces vehicle wait time and admit guests in under 3 seconds through AI predicted
searches. Residents can manage their guests online and through the mobile app

14. Competitors
Ezee Serve
EzeeServe, is a housing management application where you can easily discuss everything that matters with
everyone or with the chosen committee members.
Proxy Click
Proxyclick is trusted by top companies like L'Oreal, Airbnb, and Audi to enhance their visitor experience
while securing their premises and their data. It provides a universal solution to meet Enterprise needs and
standardize processes.
Lobby guard
It replaces insecure paper logbooks and enable the thorough screening of all visitors, vendors, and
contractors before they are granted access to critical areas of your facility.
Stream
It comes with automated route optimisation and planning for multi-drop delivery routes, real-time driver
tracking, electronic Proof of Delivery.

15. Substitutes:
1. For individual homes, that also form a large part of market share, apps like
myGate maybe redundant and people may rely on physical or telephonic
contacts.
2. Extensive surveillance camera grids, which are becoming feasible now, that
may provide live happenings to the people needing and say to guards to allow
or disallow someone.
3. For the payment services provided by mygate already existing platforms like
paytm google pay etc that have wider use and acceptability may come as a
substitute.

16. Scope of Improvement
1. Integrate the app with various security devices like emergency alarms,
cctv cameras, etc, to ensure faster response and better reliability.
2. Giving users a control over data, like an option to delete it. It will increase
trust.
3. Letting users select who else can see the notifications related to their
visitors or orders, it will secure privacy of users.