A successful day for Prediktera who won a place in ABB’s Growth Hub SynerLeap. Global markets are opening up for the Umeå-based company.
Nearly two years ago, ABB started its subsidiary SynerLeap as a growth hub to capture startup companies with the opportunity to grow and develop. Today SynerLeap has 21 startup companies and there is a lively competition for places, so it was with great pleasure that Andreas Vidman, CEO, and Oskar Jonsson, founder and developer of Prediktera, received the prize after a pitching competition held in the Things premises in Stockholm on Thursday.
– This win gives us incredible opportunities. We will now get our technology out to ABB’s customers, it’s a great resource, says Andreas Vidman.
Included in the pitching competition prize, Prediktera receives a six-month membership in SynerLeap as well as $ 30,000 to develop their first project. This means that Prediktera now gets greater opportunities to reach an international market with its advanced image analysis and imaging software that allows content and quality to be determined in everything from pharmaceuticals and food to agricultural products.
Access to networks
– The money is definitely nice to get and a good start, but most importantly, we now have access to ABB’s network. They have so many customers with issues that we can help, says Andreas Vidman.
ABB believes that collaboration between established large companies and creative startups is a way to drive innovation and Swedish competitiveness forward. This is something that the company wants to contribute to through SynerLeap, which is an ecosystem where startups like Prediktera can grow and develop.
– After Christmas we talked a lot about finding a good partner who can take us to the market, this is better than we could ever dream of, says Oskar Jonsson.
– We will now get to know the industrial knowledge that ABB has, which has incredible worth, he continues.
– ABB exists everywhere and has enormous reach internationally so the world is open to us, it’s a big market, says Andreas Vidman.
Supported by Uminova Innovation
Prediktera has for some time been an incubator company in Uminova Innovation where they also have their office. They have received business development support, not least at an international level through Uminova Innovation’s venture Enterprise Europe Network (EEN). At the pitch competition, business developer Peter Bäckström from Uminova Innovation and EEN was also in attendance to provide support and guidance.
– It has meant a lot to us that we are a part of Uminova and have access to different networks, says Oskar Jonsson.
– Yes, this would never have happened without Uminova’s support, Andreas Vidman agrees.
Happy to have Prediktera join the team
Malin Carlström, Investment Director at ABB SynerLeap, is very pleased to receive Prediktera as a member of the growth hub.
– Together we can find more channels to the market for Prediktera. We can verify business models and realize revenue if it works. It’s real deals we’re talking about, says Malin Carlström.
– Hopefully, we can also find new customers for ABB with this cooperation. Because if the cooperation between us works, we both win on this.
How should Prediktera think now as they enter into collaboration with SynerLeap and ABB?
– They should be present and consistent. They will use us at SynerLeap and ABB to find the right people and conduct a concrete dialogue on who will do what, for whom and when, summarizes Malin Carlström.
SynerLeap is run in ABB’s research center Corporate Research, together with partners such as Automation Region, Almi, Vinnova, Mälardalen University and Västerås City.
In addition to Prediktera, six additional startup companies participated in the pitching competition. Ekkono Solutions and Univrses also received the diploma and a special recognition for continuing discussions with ABB SynerLeap. Four other startup companies, Gemit Solutions, Insplorion, MyVox and Viking Analytics will also have a follow-up round.
Peter Bäckström, business developer, comments on Prediktera’s collaboration with ABB SynerLeap:
Larger market. Collaborating with a large company like ABB offers many opportunities for a startup to get their products out faster in a larger market. Having an established player with you means that new customers can be processed through the larger company’s customer base. In emerging markets such as Asia, South America and Africa, where many large companies have a presence, this can be especially valuable, as business culture and regulations may differ greatly from those in the West.
Strategic decisions. The choice to cooperate with a large company must be supported by a well-thought-out strategic decision by the startup company. As a startup, you must also be prepared to make certain sacrifices, which may include IP rights, exclusivity and ownership. If the big company does not have an internal model to work with startups, the cooperation can also stifle the startup company.
Give value to the customer. The startup company and the large company together have the potential to give value to the end customer, and it is vital in the initial dialogue that there is a consensus on this.
Seeing potential. ABB is through the SynerLeap initiative a good example of large companies that really see the potential of collaborating with startups.