CincyTech is pleased to announce investment in Data Inventions, a technology company that brings innovation and efficiency to an industry that’s all around us in Ohio: manufacturing. The Data Inventions platform adds a layer of front line analytics to traditional machine tools. The resulting insights enable midsize manufacturers and machine shops to take immediate actions to unlock untapped potential from the shop floor to the bottom line.
“In a typical factory, more than 99% of data is discarded without attempting to derive insight,” said Duane Clement, founder and CEO of Data Inventions. Clement, who began his career in R&D as an engineer with Procter & Gamble, said the inspiration for Data Inventions came from a simple manufacturing plant visit.
“By connecting people with real-time information in applications that are easy-to-use, manufacturers can improve actual production performance. They can respond to problems quickly to reduce downtime by as much as 45% and improve productivity up to 25%. Customers can go live in hours, see results in weeks and pay out their investment in a matter of months.”
“Data Inventions is addressing problems I saw in manufacturing operations throughout my career,” says R. Keith Harrison, former Global Product Supply Officer, Procter & Gamble and Data Inventions Advisory Committee Chair. “This is a huge issue across a broad spectrum of manufacturers. The Data Inventions technology is the kind of innovation needed to continually improve manufacturing effectiveness and efficiency.”
“The Data Inventions team has built a solution that supports a growing manufacturing sector,” said CincyTech Entrepreneur-in-Residence John Bostick. “It enables midsize factories and operations that are staples in Ohio, the Midwest and so many American communities, to work smarter and compete globally.”
Clement’s Cincinnati connections from his P&G days led him to the CincinnatiUSA Regional Chamber, which opened doors with Cincinnati’s startup ecosystem and led to Clement’s decision to base the company in Southwest Ohio. DI is headquartered at the HCDC Business Center, with offices in Erie, PA and Boston.
NCT Ventures in Columbus joins CincyTech in the investment. Details will be released at a later time.