UNDERSTANDING your customers’ needs is just as important as having a great idea, according to Perth businessman Tim Jones.
Mr Jones is executive director of Intium Energy, which last year won the Western Australian Innovator of the Year Award for its sensor technology for conveyor belts.
But turning that potential into revenue has been a whole other story for Intium.
“You have to listen to your customers and put yourself in your customers’ shoes as much as you can,” Mr Jones said.
“It is not so much about technology but what it means for your customers. It is about understanding their needs.”
What the mining companies need is to keep the rollers of their conveyor belts rolling.
Intium’s sophisticated sensor detects the sound of a bearing failing and transmits an alert to the miner’s maintenance system using wireless technology.
With one sensor monitoring three rollers at a time and some conveyor belts stretching for kilometres, the product has significant potential.
And it seems miners recognise the benefits, with trials under way on a number of sites.
“I can say that they (the trial sites) are in Western Australia and they are with large mining companies,” Mr Jones said.
“And we have a number of other trials waiting for approval.
“We believe there are at least 55,000 kilometres of conveyor belts in Australia. And that will be a lot of revenue.”
Mr Jones would not, however, disclose the names of the companies involved.
Intium expects the technology to be ready for the market by the end of the year and hopes to receive commercial orders by then.
Winning the award in 2011 added a lot of interest to the business and the product, Mr Jones said.
“It didn’t necessarily open doors, but it gave us more credibility once the doors were open,” he said.
The search for innovative businesses and products for 2012 winners has just begun.
Until July 6, companies can apply for the emerging innovation category, showing that they have developed their product or service from an idea, or for the growth category, already having an innovation that is generating revenue.
• Submissions can be made at www.commerce.wa.gov.au/innovater
