In the initial phase of the project, students will research the market, the competition, and consumer trends related to the Wocket. The second part of the project will be primary research (surveys and focus groups) on the product, its features, possible marketing positioning and pricing and the final phase will be live on campus testing.
"We are delighted to be announcing this collaboration with the John F. Welch College of Business," said Mr. Gino Pereira, CEO of NXT-ID, Inc. "It is particularly relevant as one of our initial target group of customers for the Wocket are college students and campuses where there is a unique combination of open loop and closed loop payment systems combined with a particular need for security with access control to buildings."
"We are looking forward to working with Nxt-ID and their innovative technology," said Kwamie Dunbar, assistant professor of Finance at the John F. Welch College of Business. "This gives our students the type of real life hands on experience that the College prides itself on."
On January 25, 2006, Jack Welch, the former Chairman and CEO of General Electric, gave an endowment and his name to Sacred Heart University's College of Business, which is now known as the John F. Welch College of Business.
About the John F. Welsh College of Business
The John F. Welch College of Business at Sacred Heart emphasizes core business skills and knowledge, communications skills, and ethics. We stress hands on learning, understanding of the global marketplace, and state-of-the-art technology. The College enrolls over 950 students in undergraduate and graduate degree programs and the faculty consists of more than 40 professors, who are recognized scholars and experienced practitioners in the business world.
About NXT- ID Inc. - Mobile Security for a Mobile World
NXT-ID, Inc.'s (OTCQB: NXTD) innovative MobileBio™ solution mitigates consumer risks associated with mobile computing, m-commerce and smart OS-enabled devices. The company is focused on the growing m-commerce market, launching its innovative MobileBio™ suite of biometric solutions that secure consumers' mobile platforms led by the Wocket™, a next generation smart wallet designed to replace all the cards in your wallet, no smart phone required. The Wocket works anywhere credit cards are accepted and only works with your biometric stamp of approval. http://www.thewocket.com/
NXT-ID' wholly owned subsidiary, 3D-ID LLC, is engaged in biometric identification has 22 licensed patents in the field of 3D facial recognition http://www.nxt-id.com/, http://3d-id.net/
Forward-Looking Statements for NXT-ID
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect management's current expectations, as of the date of this press release, and involve certain risks and uncertainties. Forward-looking statements include statements herein with respect to the successful execution of the Company's business strategy. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of various factors. Such risks and uncertainties include, among other things, our ability to establish and maintain the proprietary nature of our technology through the patent process, as well as our ability to possibly license from others patents and patent applications necessary to develop products; the availability of financing; the Company's ability to implement its long range business plan for various applications of its technology; the Company's ability to enter into agreements with any necessary marketing and/or distribution partners; the impact of competition, the obtaining and maintenance of any necessary regulatory clearances applicable to applications of the Company's technology; and management of growth and other risks and uncertainties that may be detailed from time to time in the Company's reports filed with the Securities and Exchange Commission.
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