The Future of Smart Vision: Meet Our EiR
Where Intelligent Systems Meet Innovative Solutions
⚙️ The Power of Data Analytics: Reacting in Real-Time
In today’s digital era, powered by the Internet of Things (IoT), data is everything.
It can be reused, repurposed, and new insights can continue to be extracted from old data to improve existing systems.
We’ve already heard data being likened to ‘the new oil’ but if unrefined, can it really be used to the best of its ability? Data should be thought of as the new ‘rocket fuel’. Its potential goes beyond anything we could have previously imagined. Data should be gathered, broken down, and analyzed for it to have real value — and most often, it should be done so in real-time. When used correctly, decision-makers have the know-how to create a valuable entity that drives profitable activity.
The quantity of data has enormous potential to transform businesses and entire industries from healthcare to the industrial sector. In the last decade, manufacturers have been making their processes leaner to ensure a reduction in waste and improve overall operational standards. Two of the greatest challenges in the manufacturing industry are the untimeliness of manual processes and human error. By automating processes that were previously manual, businesses can save a lot of time, reduce costs, and avoid common errors. Companies that collect information and manage it in such a way to maximize business performance can benefit from:
- Fast and flexible decision-making
- Improved business efficiency
- Meeting dynamic consumer expectations
- High-quality offerings and benchmarked performance
- Higher ROI and asset longevity
Operational data gathered from machinery can now be collected and analyzed, all in real-time to determine its condition and performance standards. This means that maintenance and preventative measures can be predicted before action is needed. This reduces downtime and extends the life of equipment so that companies can avoid any failures that might affect the business without warning.
To gain deeper insights into the machine OEE space, we spoke to Mohammad Khan who joined NBT’s EiR program in October 2020.
🚀 The NBT EiR Program
The Next Big Thing EiR Program is four months where entrepreneurs get the opportunity to build, test, and refine new ideas into venture-funded companies. We like to describe our program as a way for entrepreneurs to fast-track the launch of innovative solutions that help solve persistent industry-specific problems. We have created a tailored EiR program divided into sprint cycles to evaluate the following three questions:
1 — Is there a real market need for your solution?
2 — Is it technologically feasible?
3 — Is the market big enough?
If you’d like to learn more about our program, take a look at the open EiR positions to take the next step and join our team of visionaries.
🦸♂️ Meet NBT’s EiR: Emkay Khan
Emkay, please could you tell us about your background and professional experience?
After graduating from the University of Nottingham almost a decade ago, I joined the software and tire sector to help companies scale internationally into new developing markets. This allowed me to live and work in 7 countries across 3 continents in just under 6 years. In 2016, I decided to put an end to my ‘living life out of a suitcase’ mantra and moved to Berlin to pursue my MBA. Right around the time I completed my MBA, I joined a Global Management Consulting firm headquartered in the US and with offices all around the world. I was based in both the Berlin and London office. During my time there, I led cross-functional teams and designed go-to-market strategies for some of the largest global players in the telecommunication and packaging sectors. Over the past 4 years, I developed a keen interest in IoT consulting and came across NBT, a venture studio right in the heart of Berlin. This seemed like the perfect fit for me and so my Next Big Thing journey began.
Why did you decide on Berlin?
As cliche as it may sound, I did not choose Berlin but rather Berlin chose me. Well, technically the MBA program that I wanted to pursue and was accepted to happened to be in Berlin. However, like most of the ex-pats here, I quickly fell in love with Berlin´s ‘trendy vibe’ and made an active effort to pursue my love for —and sometimes challenging — connection with Berlin.
💼 Understanding the Business Case
What challenges currently exist in your industry and how does your business case aims to solve them?
Manufacturing companies across the board are actively pursuing avenues to improve their line/machine overall equipment effectiveness (OEE), and maintenance costs. The business case that I’m currently working on aims to address these challenges head-on by enabling companies with secure guided maintenance and analytics via a ‘smart vision’ solution. With this solution, companies can reduce their planned and unplanned downtime while simultaneously improving their overall operational productivity and efficiency.
Could you explain your business case in one sentence?
Secure guided maintenance and analytics via a smart vision solution to ensure continuous operations despite any internal (e.g. staff turnover) and external (e.g. COVID-19 and Brexit) uncertainties.
Why did you decide to apply as an EiR and partner with NBT?
NBT’s lean venture development infrastructure is designed to nurture and develop startups beyond securing financial investment. NBT focuses on long-term growth and is here to create ongoing venture success stories. I wanted to make sure that I was part of one.
The majority of my career has predominantly been based on helping other companies grow their business and this time I wanted to make sure that I had a valuable stake in the business.
What do you find most beneficial about working with NBT?
1. The experience
As a result of developing a wide range of successful ventures, NBT has developed and implemented a winning strategy to transform ideas into successful ventures. This company blueprint helps entrepreneurs avoid a ton of common errors that arise when building out a new company.
2. The openness
Many companies claim to have done so but few have gone as far as NBT to nurture open and constructive discussions across the organization. As a result, I’ve regularly found myself brainstorming and challenging ideas either during meetings or over a casual cup of coffee or drinks in the office kitchen.
3. The people
Although there are a number of ‘jack(s) of all trades’ at NBT, most of the team are experts in their respective fields. Regular discussions with industry experts act as a catalyst to pressure test and grow venture ideas from all possible angles.
What technologies are you most excited about for your business case?
Machine learning and data analytics.
No amount or type of data collected is of much use unless it is able to provide relevant stakeholders with actionable insights. This, along with security, is what we aim to adopt at the heart of our solution.
What milestone are you hoping to achieve with NBT in 4 months?
1. Develop a solution that genuinely helps our design partners and customers to reduce maintenance costs through secure guided maintenance and to gain deeper insights into the machine maintenance space.
2. To develop a sound understanding of lean startup methodology for the IoT sector.
What is one inspirational quote you live by?
‘If you are the smartest person in the room, then you are in the wrong room.’ — Confucius
What does the Machine Economy mean to you?
With the rise of AI and IoT, the Machine Economy refers to the economic independence of machines executing transactions and actions autonomously based on advanced data analytics that goes well beyond human capacity.
If you’re interested to learn more about Emkay, you can find him on LinkedIn.
🏁 Get Involved: Join NBT’s EiR Program
At NBT, we work hard to empower and enable companies and aspiring founders to build transformational, tech-driven businesses that deliver real-world impact. Our EiR program is the perfect place for you to start.
If you’re inspired to work on a new idea in the fields of Construction Tech, Proptech, Industry 4.0, DLT, Pharma, or the Machine Economy — apply to our EiR program today!
Curious to know more about NBT? Learn about us here👇
