Axora, the digital solutions marketplace for industrial innovators, has announced the seven finalists in its global Cost-Saving Technology Challenge that aims to help firms impacted by recent budget cuts due to a variety of factors including the global pandemic, slump in demand and price wars
The competition was launched in May to discover new digital cost-saving technology for the mining and metals and oil and gas industries, which would deliver rapid benefits, including full payback, within one year.
“The response to our global Cost-Saving Technology Challenge has been phenomenal in terms of the quality, breadth and scope of the entries we received,” said Dr Nick Mayhew, chief commercial officer, Axora.
“The seven digital solutions we shortlisted however all have a common focus on achieving results in just twelve months – instead of the typical three-year ROI - so that industrial firms can become more efficient, more quickly.”
The seven shortlisted solutions include:
• A field worker productivity and safety platform (M&M and O&G) - FYLD
• A digital Permit to Work solution, which drastically reduces costs associated with paperwork and manual error in authorising planned work procedures (M&M and O&G) - GoArc
• A single, integrated SaaS platform to manage safety, projects, stakeholders, and operations (M&M) - Hardhat
• An AI-powered platform for standardising and harmonising mining data sets (M&M) - Minerva Intelligence
• An AI-based predictive maintenance to reduce unplanned downtime (M&M) - Razor Labs
• An insurance-backed predictive maintenance solution (M&M and O&G) - Senseye
• A secure industrial IoT solution for integrating multiple data sets (M&M and O&G) -Tyrion.
The finalists will pitch their solutions to a Dragon’s Den style judging panel comprising experts from across the technology, oil and gas and mining and metals sectors in September, after which Axora will validate the ROI models and vet the solutions.
The winner will receive the ‘Axora Market Accelerator’ sales and marketing package worth UK£10,000. This includes a two-hour workshop, promotion through Axora’s thought leadership content and inclusion into its digital demand engines, providing the opportunity for the winning solution to benefit thousands of industrial companies across the world.
