Three of Hexastates co-founders accepted into the InnoFounder – Graduate program

We are pleased to inform that three of the co-founders of Hexastate, Steffen, Malte and Asger, is accepted into the InnoFounder – Graduate program owned by Innovation Fund Denmark. The program offers 645.000 DKK in total, as well as co-working space, a dedicated mentor and participation in various workshops. We are excited to enter the program in September 2019 and to be putting in the hard work it requires to build up our company. We are pleased to be supported with 12 months of full-time work on our startup!

Hexastate to contest at the Venture Cup National Startup Competition 2019

Hexastate has been selected for contesting in the National Startup Competition 2019 hosted by the organization behind Venture Cup. The semifinals will be held on Thursday, 20th June at IDA, Copenhagen, in which Hexastate will be contesting three other startups in the Product-category for the prize of 20.000 DKK.

If Hexastate becomes the winner in the category, we will enter the finals with the winners of the other categories, and contest for the prize of additional 100.000 DKK at the award show. The finals will be held on Friday, 21st June also at IDA, Copenhagen.

Hexastates participation in the finals has the purpose of seeking funding for development of Hexastates CONNECT solution. The CONNECT solution will be developed in the heading of an automated system based on AI and Machine Learning, in which resources are needed to accomplish.

The finals format is based on four categories, where Hexastate is accepted in the Product category, contesting three other danish startups. Each winner of a category will receive a prize of 20.000 DKK and acquire a spot in the final. The four winners from the categories will contest for the additional 100.000 DKK prize and the title as winner of the National Startup Competition 2019. The competition requires each startup to pitch for four minutes and afterwards go through a Q&A with the jury.

For more information of the event and booking of tickets, please visit the Venture Cup website: https://venturecup.dk/nsc/

Hexastate receives the Novi NewTech 2019 grant worth of DKK 300.000

As being published by Novi by the 3rd May 2019, Hexastate have won the Novi NewTech grant of 250.000 DKK, as well as office space, financial and law assistance worth of 50.000 DKK. By receiving the grant from the experienced and skilled board at Novi, we interpret it as the board believes in our mission and our ability to reach our goal of making condition-based maintenance available for every manufacturing company out there. Malte Nørgaard, one of the co-founders of Hexastate and business developer, pronounce: “With this grant great opportunities arise, and we will try our best to show the discipline and commitment, we are made of.

At the moment we are in the finishing part of our development process of the first version of our vibration sensor, VIBSA. We have developed the first generation of our visualization tools, and we look forward putting it into test in the real world within the next couple of weeks,” stated Steffen Nielsen, one of the co-founders of Hexastate. After a long and slightly delayed development process, Hexastate is testing the product in the next couple of months, while new updates to the software is being developed.

At Hexastate, we look forward for the coming period of tests and development, and we hope to bring a high-quality product to market in the near future.

Watch the presentation of Hexastate following this link: https://www.youtube.com/watch?v=w5zTZhC_4Yw

Read the press release from Novi by pressing the following link: https://novi.dk/dk/nyheder/nyheder-fra-novi/novi-newtech-legatet-uddelt-til-hexastate

Studies show that CBM can reduce operations and maintenance cost by up to 56,5 %

A case study from 2013 presents how a condition-based maintenance (CBM) program can be used to utilize field data and usage data to minimize unnecessary maintenance and reduce operations costs. The case study research is performed in the health care sector on medicine dispensing products. The research is performed by replacing the reactive maintenance and time-based predictive maintenance program with a condition-based maintenance program in a hospital. Following these changes, it opens for the possibilities to detect failures in equipment way before it happens. The cost benefit analysis of this case study shows that the relative savings of the service costs by transitioning to a condition-based maintenance program is at least 6% and all the way up to 43.7%. By elimination of the time-based predictive maintenance program the savings will increase in range to 56.5%.

Source: https://bit.ly/2U8nHXo