This slide is from a visit to the Hibernia GBS at Bull Arm for a close up look at the structure and install Environmental Monitoring software As you can see from the last two slides, being an entrepreneur can involve a very diverse range of responsibilities.
The general public is not aware of the impact of disasters and how many that that occur on the ocean. Thousands are lost at see, families are impacted, insurance costs are in the billions of dollars if one ship is lost, not to mention the oil slicks and millions of gallons of diesel fuel that spread for hundreds of miles and sink and kill fish and vegetation on the bottom of the ocean. It is a massive problem that few are aware of, unless you are the one paying the costs.
The solution is simple; by upgrading the navigational equipment on each ship. The one time cost is less than $100,000 per ship and will save over $250,000 per ship per year. This provides less than a 5 month breakeven and then the savings becoming staggering. With our Finance program the savings begin month one.
We had to prove our results first because nobody would believe one technology could impact the costs so much. So we did 33 tests for one year and have the results to back up our claims. The captains were quite impressed because we not only saved them money, time and reduced accidents, it made their life easier.
With the right navigational system to guide you, it doesn’t matter if the conditions are like this, or…
Like this. Our navigational system are so accurate, the captain could be blind and still save ¼ Million Dollars per year on his ship.
You would think this would be a problem for our navigational equipment but the test results show it wasn’t a problem. That’s the kind of reliability every ship needs for safety and reliability.
For the technical folks, here is a comparison of what the rudder movement looks like before and after we install our ASAS Steering solution.
Here are a few facts: Rudder Movement is Reduced 68% - this is important because if it is making little corrections at fractions of seconds, the ship stays on course. We tested this for over 900 Hours with impressive results.
The captains of the big super tankers also agree on the results
With such a powerful solution, you would imagine many would want to steal the idea. Fortunately we have the strongest control available to us. We have our patent locally and have patents filed internationally. We also have all the knowledge and know-how internally. This is a major risk reducer for investors who are looking to make a lot of money.
Mona’s Story From Egyptian School-girl to Newfoundland Scientist by Mona Shahwan El-Tahan , B.Sc., M. Eng, P. Eng, E.MBA August 25, 2008 Presented to WISE SSEP Career Night
Civil Engineering Degree, 1975, Cairo University
Immigrated to Canada in 1975 - Newfoundland and Labrador
The Intelligent Predictive Technology (IPT) Applications :
The Integrated Information and Forecasting System ( IIFS)
The Ship Predictor System ( SPS )
The Advanced Ship Autopilot System ( ASAS )
The Intelligent Friction Compensation ( IFC ) technology
IPT – What it does A core platform software can literally predict the future behavior of an object. It can also do this in a fluid set of circumstances. "Listening" to the appropriate inputs, this patented IP can very rapidly learn the behavior of almost any object as it is affected by its external environment. Armed with this knowledge, the software can then predict how the object will react in a similar set of externally induced circumstances in the future.
IPT – Cont’d This knowledge can enable controlled, predictive, corrective action to be taken before a non-desirable event happens. The unique ability to learn behaviour also enables predictive, corrective action to be implemented almost instantaneously in a rapidly and ever-changing set of circumstances.
Applications of the Predictive Controller Technology Other Autopilots Industrial Process Control Marine Applications Robotics
IPT Application: Ice Management and Environmental Monitoring
Ships and Boats Satellites Flight reconnaissance Offshore rigs IIFS Forecast Maps Weather Bureau
SPS & ASAS The SPS is a marine navigational aid based on Artificial Intelligence and standard vessel maneuvering techniques, which allows for short-term prediction of ship maneuvering in confined or restricted waters. The ASAS is a sophisticated ship manoeuvring and control system capable of maintaining a ship’s track in confined waterways and harbours. It is also capable of optimizing the ship’s fuel consumption by minimizing rudder movements and course changes in open water.
InCoreTec IPT Application: 2- Advanced Ship Autopilot System (ASAS)
More Feedback- Super Tanker “ The predictive nature of the system is the key element in its success. We consider this as a big break-through in navigation and fuel saving." - T.M. George “ We realize the valuable contribution ASAS can make in energy conservation, improved performance and higher standard of navigation. No doubt it will be a milestone in the history of shipping as far as navigation by auto-pilot is concerned." - A N Lodhi - Sharjah (UAE)
Unlike existing autopilots, the ASAS utilizes advanced IPT to determine exactly how much rudder movement is needed to keep a ship on track. As a result, the ASAS can accurately maintain the vessel on its intended track with minimum rudder movements. The minimization of rudder movements directly translates into:
Reduced fuel consumption and sailing time
Higher efficiency and increased safety
The results of over 900 hours of testing indicated that, compared to the ship’s existing autopilot , the ASAS achieved:
One of the major challenges we faced in exporting the ASAS to the Middle East occurred after the devastating events of September 11, 2001. This tragedy and the ensuing war forced the company to stop all travel to the region, interrupting a crucial testing period for our product.
In addition, the SARS scare in Asia cut down on our travel to Singapore, where we had meetings scheduled and where we were supposed to join one NITC vessel for ASAS testing.
While these specific cases are, thankfully, rare and extreme, they do illustrate some of the challenges faced when dealing with other continents.
For any company, especially a small one, finding sufficient funding sources to assist in research and development costs is crucial.
Cash flow for a small company is also a large problem – trying to stay afloat in the current market place is often a difficulty.
Self-Doubt When I got my first Engineering position, I was the only female engineer (and they did not quite know what to do with me), and I needed to battle self-doubt. These doubts resurfaced when I wanted to strike out on my own and start my own business. Thankfully, in both cases, I had the tremendous support of my family, friends and colleagues, and my faith in myself and my capabilities was revived.
Board Benefits It is really important for a company to have a Board of Advisors and a Board of Directors. These individuals will be essential to you in various ways as your company grows. They can offer you a wealth of information based on their past experiences and can introduce you to the people you need to know. InCoreTec has been extremely fortunate to have both a wonderful Board of Advisors (Mr. Dennis Clarke, Ms. Ruth Graham, Mr. Dave King, Captain Mike Scala, and Mr. Sam Walters) and an excellent Board of Directors.
InCoreTec First Board of Directors InCoreTec’s Board meets either in-person or via teleconference several times a year. Austin Thorne John-Peter Bradford Mona El-Tahan Richard Potts Brian Tobin Debbie Weinstein
Mentors & Support Often, it will help to find a Mentor – someone who has been through it all before and is willing to share what they have learned with you. I am a firm believer in this and have acted as a mentor to numerous students and young entrepreneurs through work-term positions and through my work with Women in Science and Engineering (WISE), NLOWE, and Women Business Owners of Canada (WBOC) . And a great support network is key!
Partnerships & Alliances Forming an alliance and/or partnership with another company is often beneficial to both parties, resulting in a win-win relationship. The alliance allows you to pool your resources and knowledge, and assists you in entering new markets and making new contacts.
Organizations It is imperative to find assisting organizations that are the right fit for your company, who can give you the specialized help that you need, be that in the form of business advice or financial aid. There have been numerous industry and government entities and representatives who have helped InCoreTec along the way, and I would like to take a moment to thank them for their tireless assistance. These include Canship-Ugland, Royal Bank, CCMC, Lavalin, MUN, C-CORE, NITC, SAAB Marine, Canadian Coast Guard, NATI, NEIA, NOIA, NLOWE, BDC, IC, CSA, ACOA, IRAP, DITRD, the GENESIS Centre, and all other provincial and federal government departments who have offered a helping hand .
Develop a good relationship with your account manager at the Bank – be very open and direct with him/her, letting him/her know everything that is going on with your finances. Remember, the bank is there to help you and they don’t like surprises!
Struggling with Confidence A Study by Irene Meglis The 2000 National Conference for the Advancement of Women in Engineering, Science & Technology provided the participants with a paper by Ms. Meglis in which she gave a discussion of “ So You Want to Be a Scientist? – The Top 10 Things I Wish Someone Had Told Me ”. I think a few of these bear repeating:
It’s Okay to Fail – some of the most interesting discoveries came about when something did not work ‘right’
… but Never Accept Defeat – do not demand the unreasonable of yourself, but never be satisfied with “good enough”
Take the Reins – you are responsible for directing, checking and correcting yourself
Be Patient – things may not come easily, but with a little patience and perseverance they WILL come
Honorable John Ottenheimer presenting Mona with NLOWE Entrepreneur of the Year award
CATA High-Tec Woman of the Year Award Presented for outstanding technological innovation and corporate leadership - leadership that has significantly expanded the frontiers of Canada's advanced technology industry.
St. John’s Mayor Andy Wells presenting Mona with the CATAlliance first annual Sara Kirke Award