Executive summary
💵 EUR 3.7 m project volume accredited for non-dilutive funding of two projects
🔐 Projects:
1. Development of a novel pressing and calibration process for sensor integration in mechanical components
2. Development of a modular hardware and software solution for sensor data fusion and interpretation
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Interview with Simon Krech, CEO & Co-Founder of Core Sensing
Background Information
Q: Can you provide a brief overview of your company and what you offer?
Simon Krech: Core Sensing develops intelligent sensor systems for mechanical components. We help our customers collect and interpret mechanical data in real time, with the goal of improving the efficiency and reliability of their machines and equipment.
Q: What specific product or service from FUNDED have you used?
Simon Krech: We used FUNDED’s Grant Support Service to secure funding for two projects with a total volume of 3.7 million euros. One project involves the development of a novel pressing and calibration process for sensor integration in mechanical components, along with an integrated interface gateway for automated collection and transmission of mechanical data. The other focuses on a modular hardware and software solution for sensor data fusion and interpretation, as well as AI-based algorithms for early detection of machine failures and maintenance needs.
Experience with FUNDED
Q: What challenges were you facing before using FUNDED?
Simon Krech: We had prior experience with public funding and knew how involved the processes can be. On top of that, the technical complexity of our projects adds to the documentation effort. With FUNDED on board, this became much more manageable.
Implementation and Use
Q: How was the onboarding and implementation process with FUNDED?
Simon Krech: Straightforward and well structured. The FUNDED team got up to speed on our projects quickly and supported us throughout the application process with precise documentation.
Q: How are you using FUNDED's product or service in your business?
Simon Krech: We use the SaaS solution FundedOS to manage grant documentation and ensure smooth disbursement. We also use their consulting services for strategic advice. This combination has worked well for us, and we plan to continue using FUNDED for future projects.
Results and Benefits
Q: What specific results or improvements have you seen since using FUNDED?
Simon Krech: We saved a lot of time and were able to secure the funding needed to advance our projects. FundedOS noticeably reduces ongoing documentation effort and speeds up the disbursement process.
Q: Can you provide any metrics or data to support these results?
Simon Krech: With FUNDED, we successfully secured 3.7 million euros in funding for our sensor and data analysis projects. This funding was critical for the execution of our development plans.
Feedback and Recommendations
Q: What do you like most about FUNDED’s product or service?
Simon Krech: The combination of strong expertise and the practical SaaS solution. The team brings experience from various consulting and academic backgrounds, and FundedOS makes the complex documentation requirements manageable.
Q: Any additional comments or feedback?
Simon Krech: The post-approval processes for grants are often underestimated in terms of effort. FundedOS helps us enormously here. And having experienced experts by our side during the application phase was very valuable.
Personal Insights
Q: Can you share a bit about your role and background?
Simon Krech: As CEO and Co-Founder of Core Sensing, I am responsible for the strategic direction and growth of our company. My background is in business administration – I handle the commercial side, while my co-founders drive the technical development. This division of responsibilities allows us to stay focused on both the technology and the business.
Q: What excites you most about your industry and the future of your business?
Simon Krech: The potential of sensor technology and data analysis to fundamentally improve the reliability of machines and equipment is enormous. We want to establish Core Sensing as a relevant provider in this space and offer scalable solutions that deliver real value to our customers.