Ecocentric Energy, a start up set for success
Perth based start-up Ecocentric Energy is looking to revolutionise the market with its disruptive technology “Numen” which will empower businesses to understand and make informed decisions about their energy consumption.
The “Numen” energy system collects and monitors real time energy consumption data using cloud-based technology to provide insight into how a building’s electrical infrastructure is working. Developed in collaboration with CSIRO, it can identify inefficiencies and opportunities for energy reduction, safety monitoring, energy production and improved energy quality. The technology can help businesses significantly reduce their electricity costs and is set to be a game changer.
As the company plans its imminent market launch Chief Executive, Tim Bray, explains the importance of protecting their innovative technology, having engaged Mark Pullen, Principal at Watermark, to advise on Ecocentric’s first patent application more than five years ago.
“From the outset, Mark’s clear explanation of the IP landscape helped us understand how we need to position ourselves”, Tim explains.
Mark continues to work closely with Ecocentric and regularly joins the team to discuss their ideas and workshop IP strategy. “Mark has a genuine interest in, and deep understanding of, our business and he is excited about our technology. He guides us on what is and isn’t worth doing and we know we can trust his advice. It’s very much a collaborative approach.”
Tim’s philosophical approach to success has helped him stay motivated and focused over the years. “We don’t regard success as some huge intangible or materialistic goal. We are rewarded every day in terms of what we do. We are constantly evolving and moving forward and we feel good about what we are doing.”
A clear understanding of the company’s purpose and reason for existence is part of Tim’s mantra, and the best advice he can give to any entrepreneur.
“Understand why – why does your business exist?” Tim explains, “Once you understand why and have a clear purpose, then decision making and dealing with uncertainty becomes easier.”
“So, when it comes to understanding your IP and how to protect it, you are clear on what you need to do and how to do it because you understand why you are doing it.”
Having a strong IP portfolio has been instrumental to the company’s ability to attract capital.
“Prospective shareholders are always very interested in our IP,” Tim says. “It is one of the areas they look at most closely, so being able to talk about what IP we have, what IP we are developing and how we are protecting what we have, has been very important in those discussions.”
Tim says that IP has also been a point of difference for Ecocentric and is a key part of their go to market strategy, underpinning their ability to sign significant agreements. “As a result of our IP we have been able to secure some very good deals with new channel partners that are going to take us to market in the next few months.”
The future looks bright for this WA start-up!