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Lehi-based Lie Detecting Technology Company will join Governor’s Trade MissionApril 08 2014 - 1:46 pm
For Immediate Release
April 8, 2014
Lehi-based Lie Detecting Technology Company will join Governor’s Trade Mission
Converus EyeDetect product to make its international launch in Mexico City
Salt Lake City, UTAH — Utah Governor Gary R. Herbert, leading an executive trade mission in Mexico, invited technology start-up Converus to join the delegation and to present during a business briefing in Mexico City on April 8.
The goal of this trade mission is to increase joint business initiatives between Mexico and Utah and help grow the economies of both. Lehi-based Converus was selected because of its already strong ties to Mexico. Alta Ventures Mexico is the company’s principle investor, and the fund supporting their investment comes from Mexican investors. Because of this connection, Converus chose to introduce its patent-pending lie detection technology — branded EyeDetect — to the world at ExpoSeguridad in Mexico City April 8-10.
“We received an infusion of capital by Alta Ventures Mexico in March 2013. This enabled us to accelerate the commercialization of this new technology and bring it to the market one year later,” said Converus CEO and President Todd Mickelsen. “It took scientists at the University of Utah 10 years to develop EyeDetect, which is the first computer-based exam that monitors eye behavior to detect deception.”
“Converus is a great example of how a Utah company teams up with the business and investment community of Mexico to help both economies,” said Governor Herbert. “The EyeDetect technology should be particularly appealing to companies and investors in Mexico.”
According to Mickelsen, the billions of dollars lost annually due to fraud and crime severely hampers economic growth. He says Converus not only facilitates economic growth for Utah and Mexico through job creation in both locations, but it also helps combat and reduce fraud and crime — thus making the Mexican economy more productive. A former director of the FBI in Mexico said a major Mexico institution had to fire all its polygraph examiners after they were caught adjusting test results to improve the pass rate. “They are looking for an incorruptible, less expensive, and faster performing solution like Converus’ EyeDetect,” he said.
“It’s an amazing honor as a start-up to be invited to join the governor’s trade mission and to represent Utah’s businesses,” said Mickelsen. “Mexico is our beachhead market and therefore crucial to our product launch. Last October Converus optimized the EyeDetect technology for the Latin American market by running a mock crime field study with 200 students at the Tecnológico de Monterrey. EyeDetect was 85% accurate in identifying both guilty and innocent subjects.”
EyeDetect enables companies to screen out potential employees who would otherwise falsify their experience or be untruthful about previous activities with illegal drugs, stealing from an employer, accepting or receiving inappropriate benefits from an employer or divulging confidential information. It’s also designed for occasional employee screening.
About the Utah Governor’s Office of Economic Development (GOED)
The Governor’s Office of Economic Development (GOED) charter is based on Governor Gary Herbert’s commitment to economic development statewide. Utah’s economic development vision is that Utah will lead the nation as the best performing economy and be recognized as a premier global business destination. The mandate for this office is to provide rich business resources for the creation, growth and recruitment of companies to Utah and to increase tourism and film production in the state. GOED accomplishes this mission through the administration of programs that are based around targeted industries or “economic clusters” that demonstrate the best potential for development. GOED utilizes state resources and private sector contracts to fulfill its mission. For more information please contact: Michael Sullivan, 801-538-8811 or firstname.lastname@example.org
Converus (“with truth”) is committed to providing trustworthy, technological solutions for deception detection. EyeDetect™, a product 10 years in the making, is the first ocular-motor deception test (ODT) solution for deception detection. The same scientists credited with computerizing the polygraph in 1991 created it. EyeDetect is an accurate, cost-effective, efficient, secure and noninvasive method for businesses to manage risk and ensure workplace integrity, and for law enforcement agencies and governments to detect deception. The company was formed in 2009 and is currently headquartered in Lehi, Utah, USA. For more information, visitwww.converus.com.