Bosch CDO distinguishes oculavis for outstanding startup collaboration as part of the Open Bosch Awards 2023
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oculavis GmbH, based in Aachen, Germany, has been selected as one of five startups for
oculavis wins European Scale-Up Award 2019, endowed with 100,000 Euro
Written by
Martin Plutz
Martin Plutz
- CORPORATE NEWS
- 3 min. reading time
oculavis GmbH, headquartered in Aachen, Germany, was named the best scale-up of the year in the Digital Industry category in Brussels on November 7, 2019. The award is presented by the European Union as part of the EIT Digital innovation program for the sixth time in succession and honors digital innovations from Europe that have the potential to scale globally. In addition to 50,000 euros in cash, the prize package consists of services of the same amount to promote the growth of oculavis GmbH across Europe.
Growth course now with further tailwind
Winning the EIT Digital Challenge could hardly have been better in terms of time, as the company, which was founded in Aachen in 2016, is already on a strong growth course in Europe. The opening of a new office in France is close to take place and the market entry into other European countries is also on the short-term agenda of the company that was spinned off from RWTH Aachen University and the Fraunhofer Gesellschaft. Even though some international customers already exist, this targeted expansion is intended to improve the acquisition and support of local customers.
CO2 Reduction and Digital Business Models in Service in One
At first glance, the step to expand into other countries does not really fit oculavis GmbH, which has set itself the goal of reducing travel for service operations of machine and equipment manufacturers with its remote service and maintenance solution. With the Augmented Reality based software solution, which is compatible with smart glasses and every tablet and smart phone, experts from a machine manufacturer can take a look through the eyes of the machine operator on site from the comfort of their office without having to travel to the machine location. This not only saves time, money and frustration, but also reduces CO2 emissions by reducing the travel of technicians and service experts. In addition, machine builders and plant operators can use this solution to offer innovative business models in service, since the end user of a plant can be helped more quickly, thus reducing downtimes and increasing availability.
The European Way
oculavis GmbH is a perfect example of how European companies with strong growth can be founded without going the typical American way of venture capital funding. Since its foundation in May 2016, the company has successfully grown in the market without external financing, to which not only a convincing and successful product has contributed, but also support from the Horizon2020 research framework programme and the SME instrument of the European Union. Winning the EIT Digital Challenge marks the summit of this European path that oculavis GmbH has taken so far.
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