In a remarkable fusion of innovation and collaboration, AlongRoute has emerged as a beacon of success at the intersection of environmental protection and cutting-edge AI technology.
What began as a partnership between two distinct entities, Greek natural environment protection SME OMIKRON and German AI services specialist Alisio, has blossomed into a into a venture that is gradually influencing the shipping industry. This transformative journey fueled by the expertise of the Enterprise Europe Network has not only showcased the power of good partnerships but has also led to the creation of greener, safer, and more cost-effective shipping practices.
The story of AlongRoute dates back to 2022 when the visionary founders of OMIKRON and Alisio first approached the Network for advice on finance and business acceleration services. Recognising the potential at the crossroads of environmental protection and AI, they sought the guidance of the Enterprise Europe Network, a decision that would set them on the path to success. With a shared ambition to revolutionise the shipping industry while safeguarding the natural world, the foundations of AlongRoute were laid, creating a bridge in the gap between environmental responsibility and technological advancement in the maritime sector.
Maritime transportation accounts for almost 3% of global greenhouse gas emissions, projected to double in under 30 years. The IMO aims to reduce these emissions by 70% by 2050. Weather routing, a solution to cut fuel consumption and emissions, has only achieved 3-10% savings due to imprecise weather forecasts. Despite the extensive research that has been devoted during the last 50 years or so, today it is evident that traditional numerical forecast models have reached an accuracy resolution capacity mainly due to the chaotic character of the modelled physical processes and the extensive computational needs.
AlongRoute is focused on developing advanced artificial intelligence (AI) models that leverage high-quality historical data to effectively learn and comprehend the intricacies of ocean physics. By harnessing this knowledge, AlongRoute provides highly accurate forecasts of crucial ocean parameters, thereby bolstering the efficacy of ship routing systems.
The Network's guidance towards key partnerships
With the support of the Network, AlongRoute embarked on a quest to secure investments and form key partnerships. Armed with meticulously prepared pitches for investors and potential collaborators in the marine tech and weather routing fields, AlongRoute proved that its vision was not only groundbreaking but also lucrative. The Network's guidance opened doors to partnerships that would shape the course of the venture's success.
The Enterprise Europe Network's impact extended well beyond advisory services. Recognising the potential of AlongRoute, the company was selected to participate in the prestigious business accelerator program, DigiCirc. This milestone provided AlongRoute with resources, mentorship, and exposure, accelerating its growth trajectory and expanding its network within the industry.
Furthermore, the Network facilitated crucial funding that allowed AlongRoute to participate in the Web Summit event held in Lisbon in 2022, providing a platform to showcase their products to a diverse and global audience. This exposure not only boosted the company's reputation but also paved the way for significant collaborations on the horizon.
In the last six months, AlongRoute's efforts have yielded exceptional results. The venture has successfully negotiated several Non-Disclosure Agreements (NDAs) with potential business partners, underscoring the industry's recognition of the innovation and value AlongRoute brings to the table. The maritime sector is ready for a transformation, as shipping companies look to adopt greener practices, enhance safety, and optimise cost-efficiency.
With its fusion of Greek environmental sensibilities and German AI prowess, AlongRoute is charting a course toward a more sustainable and technologically advanced future for the shipping industry. Through the collaborative spirit of its founders and the unwavering support of the Enterprise Europe Network, AlongRoute stands as a testament to the power of visionary partnerships, innovation, and the promise of a cleaner, safer, and more prosperous world for all.