Business Description:In 2006, Intsolvers started catering to industrial customers by providing turnkey solutions in industrial automation. Our exposure to the market helped us in identifying an unmet need in automated inspection systems for surface defect detection in machined parts for automotive and aerospace industry. Current market volumes is miniscule since the technologies available are not proven enough and expensive. In India, there is severe lack of integration expertise for successful implementations in this area. Globally, projects are extremely research intensive and adoption risks for the customers are high. The typical customer requirement is to reduce variability in product quality and high cycle time in production due to very high subjectivity of manual inspection. Also inspection personnel training is time consuming and costly.
Through preliminary research we identified a best of breed technology and a German research partner to work with. This activity has delivered us access to a technology platform that would reduce project failure risk from a very high 93% to a low 30%. We have also embarked on a development roadmap that would allow us to launch service based inspection that could remove high upfront investment for the customer to a usage based pricing model.
Industry:Non Destructive Testing
Founded in:2006
Source of idea:Systematic search for business opportunity
Significant Competitors:Diffracto Ltd., Canada; NDT Expert, France; Laser Techniques Company, US
Company Details :
Company Name:Intsolvers Technologies
HeadQuarters:Trivandrum
Stage of the company:Have first customer
No of Employees (2006):0-5
No of Employees (2007):0-5
Office Locations(2006):2-5
Office Locations(2007):0-1
No of companies promoted:No
Profits (2006):preprofit
Profits (2007):preprofit
>Partnerships:Research & Co Development Agreement: German Contract Research Organization
Software Outsourcing: Indian Counterpart with prior experience in business and computational domain software
Consulting Tie up: Scientific consultants and Advisory panel with service contracts
Initial Funding:Personal savings
Addl Funding:Family & friends
Institutitional Capital:No
Revneue Model:Revenue from custom inspection solution projects to early adopter customers in the automotive and aerospace industry
Revenue from outsourced developmental work commissioned for German research partner
Licensing/royalty revenue from delivering IP for integrated inspection sensing to sensor manufacturers to be used in applications like prognostic machine tools, aircraft maintenance
Revenue from sale of service based inspection packages offered along with inspection sensors
Awards & honors:
Promoters Details :
Promoters Name(s):Kesava Prasad T.D.
Age:35
HomeTown:Trivandrum
Education:Masters
No of companies promoted:No
Family Background:First gen entrepreneur
Job:Executive Design & Development at Tube Products of India
Ex-Job Description:Automation Systems
Favorite Book/Movie:Jonathan Livingstone Seagull, Number Sense
