23 of Aalto Startup Center ecosystem’s startups are attending the Arctic15 event. Arctic15 is a Startup Investor Event and a meeting spot for startup entrepreneurs, investors, corporates and media from 60+ countries.
Who are you and what do you do?
I/OVuo: We offer advanced monitoring services that combine sensors, software and satellite data – currently for shipping and ports, next for landslide monitoring, then followed by other use cases.
We have at this point two service products – monitoring of ship movement, and monitoring of structural changes, both at 1cm positioning accuracy, and in next iteration at 0,5cm accuracy. We have a proprietary hardware and software concept, including proprietary modelling for data processing. Our team combines strong technical, business and operational expertise with extraordinary network relationships particularly in Indonesia.
What kind of team do you have at the moment?
I/OVuo: We are currently 3 team members, but we have leveraged our networks to outsource some of our R&D, testing and installation work.
What is your innovation?
I/OVuo: As noted above, our solution is based on sensors, software and satellite data. We provide hyper accurate position and movement monitoring, at 1cm accuracy, to those who need it. Our distinction is to combine satellite data, sensors and software in a creative way, distinguishing us from those that sell various types of sensors and other monitoring devices that are not satellite-related, or who do not reach the level of accuracy that we do. Our business model is to offer this service for a monthly subscription (OPEX model), as opposed to selling equipment (CAPEX model), thus making it easier for clients to benefit from precise monitoring, and thereby also allowing us to build long term business relationships.
What kind of problem does your innovation solve?
I/OVuo: There are various types of problems that we solve. In shipping and ports, from time to time vessels collide into port infrastructure, for various reasons, which is why our current client Pertamina asked us to provide a solution for very precise movement monitoring. In a case of landslides, very precise monitoring enables to have an early warning system that reacts in real time as there is the smallest evidence of soil movement, thereby enabling people to seek safety as early as possible – thus saving lives. Landslides are a real problem around the world, and there are annually over a 1,000 landslides in Indonesia alone, and on global level they cause annually hundreds of deaths and up to $15 Billion in costs from damages. Furthermore, there are movement problems with bridges (especially old ones), dams, as well as other infrastructure, where precise monitoring can detect impending failure or collapse.
What is your idea’s impact?
I/OVuo: We save infrastructure and lives, at 1cm accuracy – whether in detecting early the damage to various types of infrastructure like at port, or of bridges, dams and in cities, or in providing early warning to people to flee from impending landslide. Our impact, thus, is to provide a safe and more resilient infrastructural environment whether in developed or in under developed contexts.
What are your main Sustainable Development Goals?
I/OVuo: We contribute to mainly three categories of SDGs:
Goal 9: Sustainable Cities and Communities*
Goal 14: Life below water*, in which with the better vessel traffic management we help to ensure the conservation of oceans, seas and marine ecosystems (by helping to prevent accidents with our monitoring system).
Goal 15: Life on land*
*Source: United Nations: sdgs.un.org/goals
What are you looking for and what are your next steps?
I/OVuo: We are in need of capital investment, with which we can hire R&D staff and conduct more development of our solutions, and pursue more vigorously the business opportunities that we see for our concept. We are hoping to secure investment, as well as are seeking ESA project funding to support our plans to conduct landslide monitoring pilot project in Indonesia. This pilot project has been agreed with a regional government there, and we have also agreed with project partners that they will support us in the project with their research experience (in fields of geology and telecommunications). After the project is completed, we will progress to make commercial contracts on landslide monitoring, for which we already have some leads and interest for. In shipping and ports sector, we will begin in next weeks a pilot in Jakarta for one of our products, and are in negotiations for a short contract in another location in Indonesia. In this sector, we will pursue commercial contracts as resources allow.
What are your main targets in the Arctic15 event?
I/OVuo: To reach investors.