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Prodsmart

Real time process tracking for production lines and job shops – across the supply chain

Total Cost €

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EC-Contrib. €

0

Partnership

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 Prodsmart project word cloud

Explore the words cloud of the Prodsmart project. It provides you a very rough idea of what is the project "Prodsmart" about.

team    venture    integral    time    markets    model    spreadsheet    sam    initially       data    back    unlike    founded    manufacturing    reduce    som    massively    benefit    2016    base    sme    job    technologies    capital    iot    oem    2025    leads    market    14    industry    uk    waste    paying    manufacturers    innovation    mostly    lower    productivity    service    insufficient    tam    smes    saas    portugal    estimate    worth    industrial    twice    cloud    operations    51    2017    2021    caixa    factory    ups    3m    round    possess    track    nest    80    tracking    investment    software    prodsmart    17    complete    shops    billion    iiot    competitors    brazil    optimization    active    closed    mes    ramp    paper    underserved    200    rely    120    business    smart    tools    million    solution    join    members    raised    optimize    turnover    124    unexplored    networks    defficient    sectors    95    sales    500start    b2c    supply    chain    powered    grow    lose    segment    clients    lines    2015   

Project "Prodsmart" data sheet

The following table provides information about the project.

Coordinator
PRODSMART, INFORMATICA, SA 

Organization address
address: PARQUE INDUSTRIAL DE ARRAIOLOS, RUA A, LOTE 8
city: ARRAIOLOS
postcode: 7040 043
website: n.a.

contact info
title: n.a.
name: n.a.
surname: n.a.
function: n.a.
email: n.a.
telephone: n.a.
fax: n.a.

 Coordinator Country Portugal [PT]
 Project website https://prodsmart.com/
 Total cost 71˙429 €
 EC max contribution 50˙000 € (70%)
 Programme 1. H2020-EU.3. (PRIORITY 'Societal challenges)
2. H2020-EU.2.3. (INDUSTRIAL LEADERSHIP - Innovation In SMEs)
3. H2020-EU.2.1. (INDUSTRIAL LEADERSHIP - Leadership in enabling and industrial technologies)
 Code Call H2020-SMEInst-2018-2020-1
 Funding Scheme SME-1
 Starting year 2018
 Duration (year-month-day) from 2018-07-01   to  2018-12-31

 Partnership

Take a look of project's partnership.

# participants  country  role  EC contrib. [€] 
1    PRODSMART, INFORMATICA, SA PT (ARRAIOLOS) coordinator 50˙000.00

Map

 Project objective

Manufacturing SMEs lose $200 billion every year due to defficient process tracking. Manufacturing SMEs are an underserved segment that represent 95% of manufacturers and are an integral component of OEM supply chain networks. More than 80% of SMEs do not possess a Manufacturing Execution System (MES). Without these, SMEs rely on paper and spreadsheet-based systems to track their operations, which leads to high processing costs, increased waste, lower productivity and insufficient data and tools to optimize production. Prodsmart is a Software-as-a-Service cloud MES solution for real time process tracking for production lines and job shops. A complete system for analysis, management and optimization for manufacturing SMEs working in real time. Prodsmart was founded in 2015, and our team of 14 members has generated a turnover of 200.000€ in 2017 with our current base solution for SMEs that has 51 paying clients (mostly in Portugal). Our SaaS B2C business model is powered by an active sales team. The Industrial IoT (IIoT) will be worth more than twice the consumer IoT. It is expected that the IIoT market will reach $124 billion by 2021, and investment in Smart Factory Technologies and Industry 4.0 is expected to grow to $200 billion by 2025. Taking into account our target markets of US, EU and Brazil we estimate a TAM of $17 billion, a SAM of $6 billion and we aim to reach a SOM of $120 million. We initially raised 200.000€ of Venture Capital with Caixa Capital in 2016 to ramp-up our sales in Portugal, and have now just closed a 1,3M€ round of investment from Innovation Nest, Join Capital and 500Start-ups to back-up our sales in the UK and the US. We have SME clients from all industrial sectors, and unlike our competitors (many of them from the US), we have established a new business model (SaaS) and unexplored target market (Industrial SMEs) that can massively benefit from our solution in order to improve their productivity and reduce costs.

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The information about "PRODSMART" are provided by the European Opendata Portal: CORDIS opendata.

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