Cogniac to Compete as Finalist in ABB Electrification Startup Challenge
SAN JOSE, Calif., June 08, 2021 (GLOBE NEWSWIRE) -- Cogniac Corporation (“Cogniac”) today announced its selection to the ABB Electrification Startup Challenge led by SynerLeap and Microsoft. Cogniac will take part in the Distribution Solutions Challenge as one of nine finalists. The Challenge features a 10-day competition culminating in the ABB Electrification Startup Challenge main event on June 23rd with a prize offering of a project contract, worth up to $30,000, and product potentially offered to ABB customers.
“We’re thrilled to be included as finalists in the ABB Electrification Startup Challenge,” said Chuck Myers, CEO of Cogniac. “Sustainability is an increasingly important facet of corporate engagement, and this challenge is an exciting opportunity for us to help drive those efforts through our enterprise AI visual intelligence platform.”
"Every year we are impressed by the high quality and innovation of the startups in the ABB Electrification Startups Challenge and this edition is no different,” said Peter Löfgren, CEO of SynerLeap powered by ABB. “We are delighted to have Cogniac, one of our members at SynerLeap, as one of the finalists in the Challenge. We have seen their technology first-hand and the synergies with ABB and our customers are incredibly powerful. As we move towards Industry 4.0, automation and Artificial Intelligence are becoming more critical, and Cogniac is at the heart of this transitio.”
Cogniac’s participation in the SynerLeap Innovation Growth Hub will bring to bear their AI vision platform on important challenges in the sustainability and electrification space. The cohort will bring solutions offering intelligent sensing and visualization intuitively applied to increase the safety awareness of personnel approaching electrical equipment. Each member of the cohort will be judged across three key technologies in two application domains.
ABB supports startups working on deploying novel technologies around Artificial Intelligence (AI) to solve key challenges in industrial environments. Through the Innovation Hub, Cogniac will receive support through mentorship, investment, and access to ABB’s networks, clients, and technologies.
About Cogniac Corporation
Cogniac offers the most advanced enterprise Visual Intelligence Platform. Cogniac enables businesses to realize superhuman levels of accuracy and efficiency in complex environments, from manufacturing to industrial, government to marine. Cogniac’s technology maximizes the value of the newest and most abundant form of data – visual data. By deploying Convolutional Neural Networks and Hyper Parameter Optimization, Cogniac’s platform achieves process performance optimization with very little technical knowledge required from human subject matter experts. For more information, visit Cogniac.ai
SynerLeap is a growth hub started by ABB in September 2016. It gives ABB access to innovative technology and growth-driven entrepreneurs while the SynerLeap startup companies are given the chance to get acquainted with ABB’s networks, laboratories and knowledge. It creates an ecosystem where small technology companies can grow and expand on a global market in three areas: industry automation, robotics and energy. Today, there are 19 companies in SynerLeap.
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