Lock&Stock Explained

Lock&Stock^[1]
Type:	Private
Industry:	Education
Founded:	2017
Founders:	Craig Fernandes^[2]
Hq Location City:	Dubai
Hq Location Country:	UAE
Area Served:	Worldwide^[3]
Products:	Lock&Stock App
Website:	^[4]

Lock&Stock is a mobile application in the educational sector intended at helping students by discouraging the use of mobile phones during classes. They aim to reduce the use of cell phones by students and encourage their digital wellbeing by providing rewards and points when they stay off their phones.^{[1] [5] [6]} 67,500 students have currently registered for the app and the total number of time spent offline amounts to over 841 years. The application has 1,181 university partners and has dispersed over AED 3 million scholarships in 2020.^{[7] [8] [9] [10] [11]}

History

The Lock&Stock app was founded in 2017 and is headquartered in Dubai, UAE. Craig Fernandes, a former student at the University of Iowa in the United States founded the Lock&Stock app along with his father Ian Fernandes as co-founder and COO, and with Hussain Ali Asgar, joining as Chief Marketing Officer. It was founded to counter the menace of digital addiction, with students wasting approximately 20% of their time on mobile phones during classes. According to new research from the United Arab Emirates University, almost 30 percent of young Emiratis might be addicted to their phones.^{[12] [13]}

Features

Lock&Stock is a free to use mobile app for students that allows them to earn keys each time their phones are locked. A student earns one key for every minute they are away from their phones. The longer time the student's phone is locked, the more rewards he earns. The app is programmed to only work on campuses. Students can use their rewards to get discounts from brands and to secure scholarships. Once the student leaves the marked radius, they can no longer collect rewards. Lock&Stock recently launched SecureMyScholarship, a website that allows students to secure scholarships from over 1,000 universities.^{[14] [15] [7] [16]}

Notes and References

1. Web site: Applications Welcome: Lock&Stock Launches Founder's Club Platform As A Launchpad For Young Entrepreneurs. Pamella de. Leon. July 14, 2020. Entrepreneur.
2. Web site: An app is rewarding students for staying off their phones during class. Bijan Hosseini. CNN. 2 July 2021 .
3. Web site: Lock&Stock app which rewards students for turning phones off now in Pakistan. www.geo.tv.
4. Web site: Lock away your phones to win discounts! Dubai-based app rewards students for reduced screen time. July 4, 2021. Mashable ME.
5. Web site: Lock your digital devices while learning from home or campus and get rewarded. Naushad K. Cherrayil 25. March 2020. TechRadar. 25 March 2020.
6. Web site: McGinley . Shane . Dubai app pays kids not to use their phones . ArabianBusiness.com . 2019-05-06 . 2021-04-13.
7. Web site: Rewards for students who stay offline inside classrooms. Sarwat. Nasir. Khaleej Times.
8. Web site: This app rewards UAE uni students for staying off social media during class. September 28, 2017.
9. Web site: App that rewards students for not using phones in class launched in the UAE. September 28, 2017. The National.
10. Web site: Now get hired for not using your phone in the classroom. gulfnews.com. 23 May 2018 .
11. Web site: Lock your phones in class and win fee waivers. www.gulftoday.ae.
12. Web site: The Lock&Stock App Rewards Students For Putting Their Phones Away During Class. www.entrepreneur.com. 29 July 2019 .
13. Web site: This UAE start-up wants to tackle mobile phone addiction. www.esquireme.com.
14. News: UAE-based start-up offering incentives to tackle mobile phone addiction . 6 May 2023 . Arabian Business . 25 October 2020.
15. Web site: The Lock&Stock App Rewards Students For Putting Their Phones Away During Class. Tamara. Pupic. July 29, 2019. Entrepreneur.
16. Web site: Esta aplicación recompensa a los estudiantes por no usar su teléfono. July 2, 2021.