The classification was achieved thanks to our software that helps industries identify all the untapped production potential in their equipment, optimizing resources, performance, and contributing to their growth.
COGTIVE is among the selected startups for the final phase of StartOut Brazil, a reference internationalization program that supports the insertion of Brazilian startups in the most promising innovation ecosystems in the world.
We were one of the fifteen companies selected among over 240 projects evaluated for their degree of innovation and interest in the American market, thanks to our software that identifies the hidden capacity of factories, helping manufacturing coordinators, managers, and directors increase productivity and, consequently, reduce costs, lead time, and optimize stocks, which greatly contributes to the competitiveness of these companies.
So, in November, our representatives will undertake an immersion mission in Chicago in person with the aim of connecting with manufacturing industries in the region and establishing a base in that country. In the next stage of the program, only 5 startups will be selected to receive support to establish themselves in that region, considered the birthplace of companies like Groupon and 10 unicorns (startups valued at over one billion dollars).
The factors that led COGTIVE to be part of this immersion cycle were: having a differential that brought a solution to a market problem, maturity for international insertion, and technical, financial, and sales competence, as explained by CEO Reginaldo Ribeiro: “Being among the most impactful startups in terms of innovation is an immense joy and the result of the dedication of the entire team. Our expectations were high, as we had already started our internationalization process and had a lot of confidence that the American market would need our solution. We did a lot of benchmarking and market research. In September, we were on a roadshow through Europe and the Middle East, visiting countries such as Germany, Switzerland, the Netherlands, France, and Spain to structure a commercial base and contribute to these industrial poles, which are going through a reshoring phase.”
With this news, the goal now within StartOut is to be part of a business acceleration process. The idea is to expand penetration in the international market, in line with the national strategy of the government and agencies for exporting innovative technology.
Now, in this third phase of the project, COGTIVE, along with 14 other startups, will participate in the Chicago Cycle Immersion Mission (USA), presenting its product.
About technology
This is a software that works as follows: by collecting data from the factory floor, such as equipment status, lost operational time, performance measurement, production batch delivery accuracy, pace tracking, setup and maintenance times, this data is contextualized and transformed into intelligent information so that leaders – coordinators, managers, directors and executives – can visualize the results and opportunities for improvement. After gathering all the information, leaders can identify the potential for hidden capacity in the equipment, make strategic decisions, identify productivity trends in the factory, generate insights, and respond much faster to changes in the sales and production plan.
Our main differential is related to the availability of Flow View – a kind of Digital Twin, a kanban of the entire manufacturing process in real time. This tool offers managers an easy view of what is happening in the factory and allows them to make quick decisions, helping them achieve faster results for productivity gain.
“So, we are aware that we can add a lot to industrial clusters beyond Brazil. Our main challenges are cultural issues: approaching and prospecting customers, demonstrating value in a technology developed in Brazil for first world countries, understanding the pains of each industrial cluster, and knowing how to communicate how our product adds value in each situation,” adds Reginaldo.
In the first 15 days of use, a large factory was able to save $300,000 a year. In total, more than 2 billion products have been tracked, resulting in a savings of around $180 million for companies. The idea has been so successful that, in addition to closing our first international contract with one of the major generic pharmaceutical companies in the Middle East, we have high levels of user satisfaction and have never lost a customer.
