Start-up name: Hexastate
Short description of the start-up:
Hexastate CBM Solutions have developed an end-to-end loT solution, which helps production companies avoid expensive breakdowns in their production lines. By monitoring and predicting when machines in the production line begin to fail with the help of artificial intelligence, production companies no longer have to have their own experts attempt to analyze and predict, as they do today.
What is the best part of having an start-up mentor?
As young entrepreneurs, we do not have that many years of experience. So it is great, as is the case in this program, to be guided by a mentor, who has been through many of the same processes before and can help us view our company with new and critical eyes.
Can you pin-point one or two concrete advices from your start-up mentor that have made a difference in your start-up? For example, changing your business strategy, giving you new customers, changing your communication methods, or something else?
Definitely getting help in validating our concept when visiting the customer, whether it is price, production sampling or a way to communicate properly. Speaking with the customer always gives some new approaches and perspectives, especially in the beginning, as this can be crucial for the growth of our business.
Would you recommend other new start-ups to get a start-up mentor?
Our answer to all entrepreneurs is to use all the support you have around you. We have definitely experienced that there is a lot to pick up from having a mentor. Going through the processes of having an idea to having a company with customers, you figure out that some of the mentors are a better fit at specific/certain stages than others. You should therefore never be afraid to take a mentor onboard, even though you are not a hundred percent sure as to what the mentor can help with. They will always find a lot of exciting things to help with.
What advice would you give a start-up who has to participate in a program with a start-up mentor?
Ask questions and challenge the mentor! In that way you get into constructive dialogues more quickly, which leads to faster application directly into the company. In that way, we gain more value, but building a company is also more fun when we can see progress.