The all-time first Combient Foundry Venture Client Cycle led to a successful pilot delivery between Stora Enso, a global pulp and paper manufacturer with more than 700 years of history, and 20tree.ai, an innovative Portuguese machine learning startup working on satellite imagery analysis.
In total three startups were selected from over 200 applicants to co-create pilots with Stora Enso and KONE. In this blog entry, Stora Enso and 20tree.ai share their thoughts about Foundry and working together.
As part of the inaugural Combient Foundry’s Venture Client Cycle, Stora Enso looked for digitalization solutions under topics such as Virtual Forest, Smart Sales & Purchase and Information Flow & Market Intelligence. During the online open call for startups, the Portuguese startup 20tree.ai successfully demonstrated all the efficiency and environmental benefits that Stora Enso would gain when acquiring their forest intelligence solution. The new solution was about to improve Stora Enso’s purchasing process by taking advantage of satellite imagery and machine learning..Thus, the startup was selected from more than 200 startup applicants, coming from 34 countries, to join the Value Proposition Days held in Helsinki, Finland. The Value Proposition Days gathered 11 startups from all around the world for three days to refine their value propositions closely assisted by decision makers and industry experts from Stora Enso. After the final workshop day, Stora Enso wanted to become a major Venture Client for 20tree.ai and utilize their solution in their own processes.
Initially, 20tree.ai decided to apply for Foundry as it offered a unique opportunity to work side-by-side with a global industry leader. Indra den Bakker, Co-founder and Deep Learning Engineer at 20tree.ai, explains: “The key in the Combient Foundry’s Venture Client Cycle is to pilot a solution with a global company and work together towards a financially sound new service and lasting partnership. The focus on direct value for both the startup and the client made us apply.”
Cooperation between a small AI startup and large corporate with more than 700 years of history sounds like a rough passage but Foundry’s structured Venture Client approach assisted in matching the expectations and smoothening out workflows. Antti Vuolli, Head of New Digital Businesses at Stora Enso, identifies that “working with startups in a structured manner enables us to be agile and fast”. As the focus is tightly on value creation rather than for example changing corporate culture, 20tree.ai was able to spend most of the pilot delivery time outside of Helsinki as Foundry’s Venture Client Cycle does not impose location requirements for startups.
20tree.ai is currently part of the incubator Startup Lisboa. Indra agrees that the setup of the Venture Client Cycle is different than the setup of an incubator and they have proven to be complementary. Indra explains: “In Combient Foundry’s Venture Client Cycle we co-create our service together with the customer, Stora Enso. This customer-focused approach makes the Venture Client cycle unique.” Simultaneously, Indra is happy to recommend other startups to apply for Foundry in the future: “We would highly recommend other startups to participate in a Venture Client Cycle. When you can address a real and concrete business need for the customer, we would not hesitate to apply!”
20tree.ai is on their way to become the standard in planet intelligence. Their roadmap includes developing forest intelligent features further in addition to creating new features related to soil and water intelligence. Stora Enso and 20tree.ai have continued their business development together after the first pilot done during the spring. Working with the global industry leader fuels the startup’s growth and let’s it benefit from economies of scale that would otherwise be out of reach for a startup. In parallel, Stora Enso has sped up 20tree.ai’s access to new technologies and gained valuable insights into the future of wood market.
When asked what was the most valuable about the Venture Client Cycle, Indra summarizes: “By working at a concrete business case directly with Stora Enso, it has been possible to develop an MVP with feedback from Stora Enso’s decision-makers. This all done in 9 weeks, from first introduction to final presentation. We received helpful coaching along the way, for example in validating the scope of our pilot and shaping our service model.”
The case of 20tree.ai and Stora Enso strongly supports Combient Foundry’s view of Venture Client model being a win-win situation both for startups and larger corporates. As our next step, we are extremely eager to support the forming of the long-term business partnership as well as develop completely new MVP deliveries between top B2B startups and Combient firms.
Read about our current business opportunities by Epiroc, KONE and Stora Enso! If you want to learn more about Combient Foundry or the business opportunities, do not hesitate contacting firstname.lastname@example.org.
About the companies
20tree.ai is a planet intelligence startup that leverages artificial intelligence, satellite imagery and computing power. Currently they provide forest intelligence that helps corporates, non-governmental organizations (NGOs) and governments to combat deforestation and make forest management more sustainable and efficient.
The startup has a fairly unusual background. Indra, one of the two founders, achieved excellent results in a Kaggle algorithm competition about tracking the human footprint in the Amazon rainforest in 2017. In the following months, Indra and Anniek, the other co-founder, started building a forest intelligence service. They established a partnership with Airbus, a leader in high-resolution satellite imagery, and performed several successful projects. As an NVIDIA Inception member, 20tree.ai is at the forefront of applying state-of-the-art machine learning to forestry.
Currently 20tree.ai is based in Lisbon, Portugal, where they incubate at Startup Lisboa, the leading incubator in Portugal.
Read more about 20tree.ai’s work here >.
Stora Enso is the leading provider of renewable solutions in packaging, biomaterials, wooden construction and paper. The company’s history dates all the way back to the 13th century and it aims to replace fossil-based materials by innovating and developing new products and services based on wood and other renewable materials. Stora Enso has 26 000 employees in over 30 countries and the sales in 2017 were €10 billion.
Stora Enso has prior experience in startup collaboration and open innovation for example in forms of corporate venture capital (CVC), accelerators and hackathons. Samuli Savo, CDO at Stora Enso, identifies Combient Foundry “as a natural way to engage with tech startup space and increase its the speed of innovation in collaboration with other Combient firms”.
Read more about Stora Enso here >
Combient is a select group of more than 20 leading Nordic enterprises that operate in a variety of industries ranging from Aerospace and Defense to Pulp and Paper, Manufacturing, and Financial Services. Combined, the Combient firms generate over $160B in annual revenue and employ more than half a million people worldwide. Combient identifies and drives strategic digital transformation initiatives with its partner firms. More about Combient here >
Combient Foundry is a strategic open innovation vehicle that brings together leading industrial companies, most innovative technology startups, and in-depth industry expertise to co-create financially sound new services and solutions. We invite top startups to grow and disrupt industries with Combient firms.