IoT Sources Start-up Minute showcases one IoT start-up company every other week. The format is Q&A style with four questions asked. Answers are provided directly from a company spokesperson. Interested in having your startup showcased? Contact us.
IoT Sources’ is pleased to present this week’s IoT Start-up Minute Company
Start-up Name: mIQroTech (www.miqrotech.com)
Founder and CEO: Meade H. Lewis (LinkedIn profile)
Industry Served: Oil and Gas
Q1: What is your organization’s unique value proposition as it relates to putting the IoT to work?
We are in a niche market with a niche solution. Not only do we have a proven system that solves a serious problem, oil, and gas pipeline leaks, but we have an incredible team to take on this challenge. Justin, my co-founder, is a database guru with over 20 years of experience, he taught classes on the subject! As for myself, I have been programming since the fourth grade, was formerly the CTO of multiple oil and gas firms, and was one of the original pioneers of IoT in the energy space. Together, Justin and I lead a team backed by electrical engineers, marketing geniuses, and leading scientists. This team is what truly sets us apart.
Q2: How does the technology work and what are some specific applications?
Our technology works through the concept of more data is better. To accomplish this, we read more variables, faster. With our patents, we have secured the unique science of how we read these variables such as reading pressure and internal corrosion, externally. This data, once collected, is then sent via 4G LTE communications to our cloud-computing cluster, where it is analyzed time and time again with Artificial Intelligence (AI). With this, we are predicting pipeline leaks before they happen, but why stop there? We are augmenting these devices with other solution sets as well. Eventually, there are even plans on bringing the technology to water and chemicals.
Q3: What real-world use cases can you point to that have put your technology to work?
We currently are taking the pipeline monitoring market by storm and garnering a lot of attention from the industry. We have already partnered with the largest natural gas production company in the world for revenue-backed beta tests. Our findings through simulations and the progression of our betas is beyond encouraging; Preliminary results show that we can predict leaks with a projected 96% accuracy! We also have meetings scheduled with seven name-brand companies to take place at the end of Q2 and are averaging over 10 new leads per month.
Q4: Who is your favorite tech visionary and why?
Being an avid reader of biographies, one of the scientists who immediately stands out to me is Michael Faraday. He interests me so much because of his deep understanding of electromagnetism. Concepts of his work are used in every electronic device in existence today. Not only was he an electrochemist, he was a genius of high regard in physics, mathematics, and environmentalism. Truly a man to look up to and strive to emulate.
Originally published at IoT Sources.