Open Innovation Catalyst with the Latest Technologies
Large companies are aware of the digitization challenges they face but not necessarily the solutions. BIND 4.0 introduces them to new technologies and innovation to test and see what works for them. Tubacex, the international steel & nickel tubular product innovator, chooses BIND 4.0 to support their Open Innovation strategy for R&D&I and Industry 4.0 solutions. And, our Open Innovation Platform offers corporate companies the opportunity to find trending tech and to quickly and easily test and implement new solutions.
Tubacex, Leading Steel Tubing and Pipe Manufacturer
Tubacex Innovation is focused on R&D&I and reaching new markets. The Industry 4.0 solutions they are interested in developing currently are advanced analytics and digital twin for production quality and predictive analytics for future products. The R&D strategy at Tubacex is to make their products intelligent by way of sensing technologies, development of new materials, IIoT and digitalization to provide deliverable data to clients. As a Corporate Venture Client with BIND 4.0, Tubacex is able to discover new technologies which they can test and the opportunity to implement the latest solutions.
“BIND 4.0 is a fast and easy way to find new technologies and apply them. Find new to market products and solutions you didn’t know about.” Asier Ojembarrena, Corporate Innovation Coordinator, Tubacex Innovation
Open Innovation Collaborations Provide Valuable Insight
Corporate clients do not expect 100% of all innovation projects to result in the implementation of new technologies, they do expect trials and information gathering as part of each process. Often pilot projects are developed to test and adapt solutions in the factory environment to see how well the startup solutions can work. The next steps depend on the results and direction the corporate client wants to go. As Ojembarrena explained, “Project success doesn’t always mean selecting the tech you tested, it’s learning from it, meeting experts, performing fast and agile tests and making informed decisions.”
Testing is an important aspect of digital transformation and some startups go through pilot projects showing how their technologies could work and ultimately the corporate chooses which and when to implement. The projects always result in valuable data used to make informed decisions about implementation.
“Our Open Innovation mentality is helping us to learn and collaborate with different startups that could open new doors for markets and product development.” Tubacex, BIND 4.0 Corporate Venture Client
Tubacex has approached disruptive startups for more than 6 Industry 4.0 pilot projects through the BIND 4.0 Open Innovation Platform. They have tested, gained insight and developed artificial vision, IoT, and smart sensor solutions with innovative young companies such as; Binary Soul, 4T2 Sensors, Ikustec, Aeinnova, etc.
Case Study of Tubacex Venture Client with the Startup Ikustek
Startup Ikustec develops machine vision solutions for the advanced manufacturing industry offering high accuracy metrology. Leticia Luzuriaga, the Co-Founder and CEO of Ikustec explains their role in Industry 4.0 “The manufacturing industry is being forced to increase its quality and productivity at the same time. It requires high precision inspection systems and dimensional quality controls. Ikustec offers the solution.”
In their BIND 4.0 pilot project, Ikustec developed a vision machine that they adapted for the factory process at Tubacex. Asier Ojembarrena, the Corporate Innovation Coordinator for Tubacex Innovation Spain admitted “It wasn’t easy to detect vision in this stage of production (due to movement fluctuations, low light, dust, etc.) so they had to adapt their technology for the Tubacex factory conditions.” Ikustec had to be agile and thorough in order to successfully adjust their solutions for the clients’ conditions.
The Startup-Corporate project extended beyond the 24-week BIND 4.0 Acceleration cycle and Ikustec has continued to work with Tubacex as a client for nearly two years. In fact, 6 out of 10 Startup Alumni sign a second contract with their Corporate Venture Client, a statistic proving BIND 4.0 helps boost market immersion and provide ongoing business opportunities. To ensure the pilot projects provide value and insight, our platform offers training and support for both the Startups and Corporate clients and we share advice from participants regarding successful collaboration.
Benefits and Tips for Startup – Corporate Collaborations
The advantage of working with startups from a corporate perspective is the agility and dedication of young motivated teams. Tubacex Corporate Innovation Coordinator Asier Ojembarrena, believes “Working with startups is the best way to test technologies. Startups say yes and work hard to make it work.” Plus, startups are smaller and thus able to work faster, this is a big advantage for large companies focused on innovation. The different working styles of each company is part of their strengths and part of the reason there can be challenges working together.
To make collaborations smooth and productive, it is important to establish a close and honest relationship between the Corporate and Startup. The key isn’t just working fast and being dedicated, there has to be a clear and common goal defined. Corporate Venture Clients shouldn’t be afraid of sharing information with the Startup team to make the project successful and clear from the beginning. Ojembarrena advised “Be open and share the concerns of the company, then the challenges are better identified, and then the projects to find solutions.”
The Corporate client has a responsibility to communicate openly regarding their internal needs and to prepare to work with an external team. Ojembarrena offered additional advice for new collaborative projects, “Corporates should also clearly identify the importance of the Corporate-Startup projects internally to be sure both the corporate environment and production facilities are ready to work with outside teams, and allow for testing time, etc.”
BIND 4.0 Delivers Acceleration, Connection and a Big Name Reference Client
Alumni startups also have individual success stories following their participation in the program and the corporate-startup collaboration projects. The startup featured in this success story with Tubacex, Leticia Luzuariaga from Ikustec said participating in BIND 4.0 has been like a launchpad for their startup. “In terms of visibility, strategy and positioning, BIND 4.0 has given us the real possibility of working with a large reference company and that opens doors for us.”
The machine vision specialists recommend the BIND 4.0 Open Innovation & Acceleration Program to tech startups looking for their first big name client. Because so many well respected large companies, like Tubacex, are seeking disruptive startups through the BIND 4.0 platform, it’s a great opportunity to work with them as a reference client on a real project.
Ready to Open the Door to New Opportunities?
With 6 editions of proven success and over 65 Industry leading Corporate Venture Clients, BIND 4.0 is the best connection for introducing startups with disruptive solutions to innovative Basque companies ready to test and implement new technologies.
Startup Participants have one or more paid contracts with a well-respected company, plus impactful training & mentoring support and access to funding opportunities with the BIND 4.0 Venture Club. An application to BIND 4.0 helps present your startup to over 65 potential clients, Industry 4.0 Leaders like Tubacex, Mercedes-Benz, EDP, Iberdrola, Keralty, FAES Farma, Ulma, Unilever, Coca-Cola EuroPacific Partners, etc. who are seeking innovative Industry 4.0 solutions.
For the opportunity to open the door to new markets and reference clients, apply to join the BIND 4.0 Global Startup Network and get the chance to put your innovation into action in the next edition opening July 2022.