Project description
Hiboo solution offers bird’s eye view of industrial assets to optimise productivity
Cost overrun is an unexpected loss in a project budget. Unfortunately, nearly all construction projects will overrun their planned budgets. For large projects, even a 1 % overrun can amount to millions of euros. Prevention planning is the best way to stop cost overrun. The EU-funded HIBOO project will make it possible for companies to track and manage large fleets of units or equipment, especially in the construction, industrial rental, logistics and transport sectors. Specifically, it will offer an all-in-one data platform for supervision of mobile or fixed industrial assets. This disruptive innovation will cut greenhouse gas emissions and reduce costs for construction projects, acting as the bridge into the 21st century the construction industry badly needs.
Objective
Asset tracking and management is critical for companies with large fleets of units or equipment, especially in construction, industrial rental, logistics and transport sectors. By not adequately and accurately tracking usage of their equipment, companies today cannot optimise their productivity & eventually incur unaccounted losses in thefts or asset depreciation. Growing at a CAGR of 12.9%, the global asset tracking & inventory management solutions market is expected to reach €26.5 Billion by 2026, confirming the needs of an innovative way to automatically gather, organise, and process location, usage, availability and other key operational criteria of resources or equipment for useful deductions and accurate decisions to be made.
Expert in Internet of Things (IoT) and SaaS platform, our company HIBOO is offering its eponymous HIBOO, an integrated, all-in-one IoT solution for supervision of mobile or fixed industrial assets. Using self-powered multi-sensor modules attached to the assets, the data is automatically collected in real-time, transmitted with 100% delivery rate, and presented on a dedicated interface to provide more visibility and perspectives such as level of usage, temperature and condition of operation. Using big-data and analytics, our innovation provides a bird’s eye view for clients to make high impact business decisions backed by solid evidence of data collected. Our technology improves efficiency through monitoring and preventing asset abuse (thefts, prolonged idling of engines, unauthorised usage, etc.). This favours cost reduction, optimisation of competitiveness through a 30% increase in efficiency, 80% reduction in data gathering and a more robust customer billing process based on actual asset usage. After 5 years of exploitation, we estimate to reach over €28.7M in sales and €9.8M in profits at an impressive return on investment of 4.37 creating a total of 35 jobs in the process.
Fields of science (EuroSciVoc)
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
- natural sciences computer and information sciences internet internet of things
- social sciences other social sciences development studies development theories global development studies
- social sciences economics and business economics production economics productivity
- engineering and technology environmental engineering energy and fuels
- natural sciences computer and information sciences artificial intelligence machine learning
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Programme(s)
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
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H2020-EU.2.3. - INDUSTRIAL LEADERSHIP - Innovation In SMEs
MAIN PROGRAMME
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H2020-EU.3. - PRIORITY 'Societal challenges
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H2020-EU.2.1. - INDUSTRIAL LEADERSHIP - Leadership in enabling and industrial technologies
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Topic(s)
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Funding Scheme
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
SME-1 - SME instrument phase 1
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Call for proposal
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
(opens in new window) H2020-EIC-SMEInst-2018-2020
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Net EU financial contribution. The sum of money that the participant receives, deducted by the EU contribution to its linked third party. It considers the distribution of the EU financial contribution between direct beneficiaries of the project and other types of participants, like third-party participants.
75011 PARIS
France
The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.
The total costs incurred by this organisation to participate in the project, including direct and indirect costs. This amount is a subset of the overall project budget.