As many Start-Ups, TWEVO still has a short but already significant history. And our progression steps seek to be solid and planned.
The initial award with the Carnegie Mellon University with the Portugal 2016 Entrepreneurship in Residence Program Fellowship has been a good start. The successful financing and conclusion of EU co-funded projects, or the reach of key clients, are among other important effort and recognition steps.
We are paving our way to building up our business and placing our services and products in the market.
Our technology and commercial offer are recognised by the Carnegie Mellon University Business School, having granted the future company with the CMU Portugal 2016 Entrepreneurship in Residence Program Fellowship, in the US. Important business-oriented mentorship followed, aiding in the development our our business idea and views. It was a good occasion for establishing key initial contacts.
TWEVO is established in February 2017, by its two founders, Mónica Figueiredo (PhD) and Carlos Ribeiro (PhD). It is officially registered as a Private Limited Company in the Portuguese/EU business registry, SME in accordance with EU recommendation 2003/361.
TWEVO is incubated at IPN (Instituto Pedro Nunes) Business Incubator, awarded as one of the top Science Based Incubators in Europe by the Centre for Strategy and Evaluation Services (CSES). IPN supports TWEVO’s development as a contact point with national and international markets, and it provides mentoring and training programs on management, marketing, intellectual property and legal assistance.
TWEVO prints its first invoice, on providing a hardware implementation to its first major client, a major electronics company based in India.
Among seeking several partnerships and other project applications, we apply for EU Research and Technological Development Incentive Scheme - CO-PROMOTION | Centro2020 | P2020 | European Regional Development Funds, with RADAVANT project in partnership with Instituto de Telecomunicações/Leiria, in July. We also apply to EU H2020 SME Instrument Ph1 funding, in November. We receive news of the approval in December.
TWEVO is awarded with the H2020 SME Instrument Ph1, to start in February and finish in July, for its REVOsdr main product, unofficially being in the top 5 SME Ph1 funded projects. The REVOsdr data link technology and market are initially focused in the professional drone market, for industrial inspections and surveying.
During the execution of REVOsdr SME Ph1 project, TWEVO benefits from receiving key business coaching from a Drone Business Development and Marketing Management expert, based in Belgium/The Netherlands, with a significant track-record in business development and start-up coaching. His role with us has been timely and totally adjusted, providing TWEVO with valuable insights and even direct commercial contacts in the field.
Carlos meets with several potential clients, in the professional drone and industrial inspections, surveillance and surveying markets, in Belgium and The Netherlands. The REVOsdr Demonstrations, as a paid service, are first created. We start preparing all of our technology according to EU norms and FCC rules, for future marking.
Following this initial commercial endeavour, Carlos visits Commercial UAV Expo Europe 2018 (Amsterdam) and Global Robot Expo GR-EX 2018 (Madrid), adding more important commercial links in the global scale in the then promising drone market.
In July, RADAVANT project receives approval and officially starts in September. SME Instrument Ph1 project is successfully concluded.
This year is mostly devoted to the development of product REVOsdr product line, also seeking new markets and diversifying product offer.
Great effort is also dedicated to the execution of RADAVANT project.
We start to witness a slowing down of the drone hype.
TWEVO applies to several European start-up events, to establish contacts with possible partners and clients. In December, TWEVO was one of the 2 Portuguese companies chosen by the European Innovation Council (EIC) and GALP to participate in the EIC Corporate Day, among 15 European business.
TWEVO widens its market scope towards Industry 4.0, to provide fast, reliable data links in the factory floor.
In February, AB InBev opens its doors to 32 SMEs in an EIC Corporate Day, to pitch and present their business cases at the group’s Global Innovation and Technology Center (GITEC) in its home city of Leuven, Belgium. TWEVO is privileged to be among those 32 presenting SMEs, with Carlos loosing his voice due to an unexpected cold, but goes forth with the presentation with the help if a kind participant.
In March, AB InBev and TWEVO start a fruitful business and technical connection, further fitting REVOsdr in the i4.0 context, developing the REVOsdr i4.0 product.
Along July, through September, TWEVO seeks further commercial contacts to execute more future REVOsdr i4.0 pilot demonstrations and partners.