Innovation

TapHax’s mission is to “reduce your consumption, and your utility bill.” The company operates around the core value of building products that make a profit but also help to solve some fundamental problems around water usage. TapHax has the potential to save roughly 15% per year in water usage, which is a figure that any cost-conscious businesses and residential houses can certainly appreciate. Furthermore, TapHax can save a substantial amount of money when considering how costly water leaks and repair works can be.

TapHax has the potential to impact society at large as its products are scalable and easily promoted as more and more people become aware of clean water shortage problems, especially as climate change develos at an alarming pace. TapHax can have a global impact on the environment as the technology has the capacity to reduce overall water consumption on both a residential and commercial levels. After installing TapHax in a home or business premises, a consumer will be more attentive to water usage while, for instance, showering as a smart meter will quantify the exact usage in litres. This output provides a better appreciation for how much water we use on a daily basis, and strives to educate consumers to decrease their water consumption.

Inspiration

TapHax emerged during the Hackathon Contest that was centered arounf trying to solve the problem with water prices around the world. Both owners, Murtaza Bahrainwala & Jacob Elliott, further developed the idea at the University of Guelph’s Improve Life Challenge in January 2018 and the company was officially launched on January 27th, 2018, as a for profit corporation. Murtaza’s inspiration came from his own desire to educate consumers about water prices and waste and both owners were passionate about starting their own company.

During the interview, Murtaza said “initially I didn’t want to start a company because of the lack of knowledge, but this was the most commercially viable idea I had ever had.” Despite hesitations, his motivation ultimately came from a desire to educate consumers and a passion for making a significant impact. Murtaza notes “You need to solve the right problem, and only solve a problem that consumers are willing to pay for.”

Overall impact

Taphax has clear short-term benefits from a financial point of view, as Murtaza estimated, TapHax users will average about $50 per month on water utility bills for a four person household in Guelph/Waterloo. Over a year, this means that Taphax users could save up to $100/year on average utility bills. In the short-term there is certainly clear financial benefits that would be even more impactful if implemented on a commercial factory scale. The immediate goals of the company were to "put everything together and test how receptive the market was," Murtaza explained.

When questioned about where Murtaza sees his company in 10+ years, it became clear that he believes in the potential of this product and how it can impact society on a large scale. “It makes people more aware”. Taphax can have a global impact on the environment as the technology has the capacity to reduce overall water consumption on both, a residential and commercial scale. Murtaza believes in the potential of the industry and its long-term effects and is enthusiastic about automating and integrating multiple devices to make tracking everyday consumption easier. Murtaza said, “Overall home automation [is where I see the company going] yes, all of them are to make things more sustainable.” TapHax’s intentions are to make long-term changes to how home technology is evolving with sustainability being the long-term goal.

Business benefit

Although TapHax has only been in operation for 8 months, the developmental groundwork allowed both owners to start the company off quickly and successfully. Since opening, TapHax has sold almost 35 units of the tap monitoring system and 15 units of the shower system. However small these numbers might seem, both owners have since hired two other members to help the company continue to improve the coding and logistics behind the user-friendly design. Furthermore, the long term vision of the company to increase awareness of household water consumption allows for a clear direction forward.

TapHax was the first company to provide a very user-friendly dynamic home monitoring system. As TapHax has marketed themselves as a company striving to make an environmental impact, Murtaza says “Customer response has been positive and encouraging.” He continues to outline that interest has outweighed initial cost concerns, since the cost per system is still high, whilst water continues to remain fairly inexpensive in developed countries such as Canada.

To continue generating revenue TapHax will strive to market themselves to both environmentally and financially conscious consumers.

Social and environmental benefit

TapHax products have an immediate societal benefit as they aim to decrease water consumption per household, and save about $100/year. TapHax has initially targeted the residential market, with plans to expand and capitalize on industrial companies in the future.

TapHax's long-term goals contribute to creating a better, more sustainable future, as TapHax is committed to using smart innovative technology to educate society on their overall water consumption and help them reduce it. This helps the environment in the long-term as TapHax is contributing to a more well-informed society that better understands its water consumption. Both society and the environment will reap the benefits of a more informed consumer.

Interview

Murtaza Bahrainwala, Owner