Eigen Drives Innovation - NBIF - FINB

Eigen Drives Innovation

The automotive industry is big business, with an annual value of nearly two trillion dollars. Each year, over 80 million cars are sold around the world.

As cars grow more sophisticated, their manufacturing becomes even more complicated. Fredericton-based Eigen is at the forefront of improving automotive manufacturing, using AI enabled software solutions to minimize production downtime and loss.

“We empower manufacturers to introduce autonomous manufacturing on the factory floor,” says Scott Everett, Eigen’s CEO.

Eigen’s solution starts with real time monitoring and continuous data collection of highly repeatable and complicated manufacturing processes. On day one, their platform allows manufacturers to identify root causes of quality issues on a machine-by-machine basis. 

But Eigen does more than find the problems. Their platform uses machine learning to actually predict where problems will occur before they happen, allowing the manufacturer to dramatically reduce downtime and improve their overall production efficiency.  This equates to millions of dollars of savings, directly impacting their bottom line.

That’s why some of the biggest names in the automotive business in Canada and abroad have signed up to Eigen’s solution.

“Our algorithms spot things the human eye cannot see,” says Everett. “Our software predicts and limits loss for large-scale manufacturers. The longer it analyzes the process, the smarter and more effective it becomes.”

With its head office and R&D facilities located in Fredericton, Eigen also has a sales office in Windsor, Ontario. Just across the river from Detroit, it’s in the very heart of North America’s automotive industry.

Eigen is another example of technology developed at the University of New Brunswick which has been successfully commercialized and used to launch a thriving startup. Eigen’s ongoing relationship with UNB is another big factor in its success according to Everett.

“We have a very strong relationship with UNB, having had the privilege of hiring a series of co-op students that have become full-time employees. The talent coming out of the university has been exceptional, and we’re looking forward to continuing this relationship as the company grows.”

Outside of Automotive, Eigen has already received traction from additional high growth manufacturing sectors that can benefit from their product offering.  This growth will have Eigen doubling its headcount over the next 24 months.

“We’ve got a great team and a powerful solution that is badly needed by manufacturers around the world. We can’t wait for what comes next.” says Everett.