Entrepreneurial Dream Accelerates

A Master’s degree and a start-up business. For four friends this turned out to be the perfect combination. Malte Nørgaard, an SDC Innovation Management graduate, and three students from Aalborg University co-founded Hexastate CBM Solutions in 2018 alongside their studies.

Since then, they have worked with condition-based maintenance. Their product is a combination of a Iot of sensors that register vibrations in production equipment and AI-powered software, enabling companies to predict breakdowns in production and act before they occur, meaning they can reduce downtime and potentially save a lot of money.

Start-Up Funding

The start-up company has received the Novi Newtech grant of DKK 300,000, a DKK 65,000 grant from the Confederation of Danish Industry and is one of 15 start-ups selected for the InnoFounder – Graduate programme hosted by Innovation Fund Denmark. The programme offers DKK 645,000 in total as well as co-working space, a dedicated mentor and participation in various workshops.

‘The grants and support have made it possible for us to reach our current position. We are confident that we can make a difference for many companies that want to reduce downtime in their production, and we had a good start in the Danish market’, says Malte Nørgaard.

The product is on the market, there are five full-time employees and three interns, and 2020 is dedicated to making the product suitable for scaling.

Follow the start-up adventure at: www.hexastate.com