Low-energy Bluetooth is really starting to take-off in a big way, with seemingly every other product on the main crowdsourced-funding sites using it. One product that actually exists, though, is the Elgato Smart Key – which appears good value at just $40.

Bluetooth LE has a very short range, often as low as 30 feet or so in smaller devices. It’s thus great for alerting you when you’re about to walk off leaving your keys or bag behind, not so good at finding your car in a car-park. What the Smart Key app does is to mark the location of the key when your phone goes out of range, so you can use GPS to locate it from further away.

Apple is understood to be working to add similar functionality to the M7 chip in the iPhone 5s and new iPads.

That approach would not, of course, help you track portable items like keys and bags, but should work well to find your car or bicycle.

The Smart Key is IP65 certified, meaning it’s 100 percent dust-proof and can resist heavy water spray, but not total immersion. Elgato claims the user-replaceable battery will last for six months.