Dubbed the "Ladybag," the device uses radio frequency identification tags, a tag reader and an LED screen to detect whether any pre-determined items are missing from the bag.
"As each item is put in, the corresponding LED pattern shuts off," Lillian Tam, one of the developers from Simon Fraser University, told the Daily Mail. "When no LEDs are shining, everything is in the bag."
Fellow designer Huma Zaidi said the user can specify which items are "must-have," such as keys, palm pilot, laptop, cell phone or almost anything.
"We've got a lot of attention from older women," Zaidi said.