This was written by Katharine Schulze and originally appeared in the Journal and Courier. Since publication Bearing Analytics has changed its name to Dattus.
Being chosen a top-10 startup in a founder.org competition last month was worth $100,000 to two Purdue University students.
Anurag Garg and Lokesh Gupta are co-founders of Bearing Analytics.
“The idea is we can make machinery failures a thing of the past,” said Garg, the chief executive officer. He is working on his thesis for a Ph.D. in electrical engineering.
Bearing Analytics offers condition monitoring and failure prediction capabilities for industrial rotating machinery. Sensors measure temperature and vibration, and the data can be used to project when machines will fail.
The initial research for technology for monitoring bearings has been done at Purdue for seven years, Garg said.
“We expanded that into a full solution that extends beyond just one sensor,” Garg said.
What was once a company that produced sensors for bearings can now monitor whole machines.
Gupta, vice president of research and development, is one of the inventors of the original technology. He finished his Ph.D. in electrical engineering in December.
Garg and Gupta used business plan competitions to promote their business and receive feedback on their plans.
They have been finalists or winners of several national and international business plan competitions. The most recent was an international competition by founder.org.
In February, Bearing Analytics won the $30,000 top prize at Purdue’s Burton D. Morgan Business Plan Competition.
“They were a very, very competitive team from the get-go when they signed up for founder.org’s competition,” said Cliff Wojtalewicz, managing director of the Burton D. Morgan Center for Entrepreneurship.
Businesses usually sign up for such competitions on their own, but Wojtalewicz said the center helps facilitate such activities by introducing entrepreneurs to groups such as founder.org.
Founder.org is a global student entrepreneur investor and company building program. This year, out of the 50 startups that make up the company’s class of 2015, three are from Purdue.
“We’ve taken off since then,” Garg said of their time since those competitions. “Now we’re looking to expand our team — we’re creating about six new jobs in the next six months.”
Two jobs will be created in the next two months, he said. The $100,000 grant money will make that possible.
In addition to job funding, Garg said the grant money will go toward polishing their product and putting their first installations in the field.
In addition to the grant money, Bearing Analytics will have weekly meetings with founder.org officials and travel to semiannual conferences.
“Basically, they are guiding us in polishing our business strategy,” Gupta said of founder.org.
Over the next 12 months, they’ll create a marketing strategy and open doors for investors, Garg said.
“Not only is the founder.org team very accomplished, the group of entrepreneurs in the class of 2015 is an absolutely amazing group of people,” Garg said. “A very, very well-rounded, very driven, like-minded group of young entrepreneurs.”