THE DREAM IN ACTION

  This new start-up is the classic example of, “if there is a need, there is money to be made”.  The story of this start-up (as told on TechCrunch) begins when founder Mat Mullen had his iPod stolen last year in Silicon Valley. He decided that there needed to be a way to resolve the huge problem of “portable device theft”. So with the inspiration of the Low-Jack for automobiles he has created iHound. iHound uses the USB connection of portable devices (think iPod or jump-drive) to locate the device by sending a device’s IP address, ISP name, and computer whenever it is plugged in. Obviously an internet connection is needed to locate the device and apparently, the device will not work yet for MACs or cell phones.

For all of us out there trying to find the next great idea focus on what “needs” have not been met and where are there “market gaps”.