TWAICE is in the top 150 of the European Startup Prize for Mobility
Please introduce yourself and your startup TWAICE to our readers!
TWAICE supports enterprises across industries with predictive battery analytics software based on digital twins. We empower our customers to develop and use battery systems more efficiently and sustainably while making them more reliable and durable. Precise predictions of battery conditions and aging significantly optimize battery development and use. The exact determination of current condition also enables certification of batteries for reuse and 2nd life.
How did you get the idea to TWAICE?
Michael, my co-founder, and I were researching 2nd life applications for batteries in electric vehicles at the Technical University of Munich back in 2014. One key critical issue is the determination of the current condition of the battery and the remaining lifetime. We quickly discovered that there is no solution in the market. Furthermore, other research projects with industry players, including some of the largest OEMs showed us that there is significant demand and so far no internal solution. Developing the digital twin approach was then an logic next step. After having developed the concept, we then started developing the algorithms and models which are necessary.
How difficult was the start and what challenges you had to overcome?
The TU Munich obviously has several good role models. The ecosystem with the UnternehmerTUM and other accelerators is also very helpful. The biggest challenge is to get rid of the researcher mode and enter reality and figure out how to make money.
Who is your target audience?
Generally speaking, we are targeting customers with any battery application. This is clustered into two broad products and target groups: development & operation. The former helps manufacturers of battery products, for example, an automotive OEM, to test and validate their battery system faster and which also includes the prediction of the lifetime to for example evaluate the warranty. The second solution is directed at the users of batteries to optimize the TCOs, for example enabling them to precisely determine the impact of certain charging behavior on the battery’s life and extend the lifetime by adjusting the charging strategy.
What is the USP of your startup?
We are providing predictive battery analytics software independent of any battery system manufacture and overarching industries. This means that we can transfer lessons learned more effectively while at the same time being completely unbiased. In addition, we are using an advanced hybrid approach with significant academic research behind it and for which we are securing patents at the moment.
Can you describe a typical workday of you?
Quite a lot of my day revolves around client meetings but the company building obviously is also one of the most essential parts of the current stage.
Where do you see yourself and your startup TWAICE in five years?
We are on a strong growth path and we definitely want to continue it. In five year, I see TWAICE as the leading provider of software and service to leverage and manage this huge future asset batteries in Europe, the US, and China.
You are one of the top 150 European Startup Prize for Mobility. How its going on?
It’s a great honor to be among such an exclusive group of start-ups. Being evaluated and challenged by such a panel is always a helpful to improve our positioning and external communication.
What 3 tips would you give other Start-up founders on the way?
Seek the customer interaction: open questions are answered more quickly and customers are usually willing to work with you to improve your solution. 2. Build alternatives: do not make yourself dependent on one person or company, be it customer, investor or employee. You are in a lot stronger negotiating position this way. 3. Find the right balance: technology and business go hand in hand and so should your team. Balance your team and do not neglect one part of the company for another one.
More information you will find here
Thank you Stephan Rohr for the Interview
Statements of the author and the interviewee do not necessarily represent the editors and the publisher opinion again.