The app cementing AI into the foundation of the construction industry.

The app cementing AI into the foundation of the construction industry.

What has been a constant is a desire to control my own destiny, and to form a business that makes a real difference to my work/life balance.

SIGN THE PETITION

David Redmond, founder of the fuseAware app, on saving lives and sticking with your vision.

How does fuseAware work?

fuseAware offers a real-time view of a range of health, safety and productivity metrics of workers in the rail, construction and airport environments.

The fuseAware algorithm predicts accidents by tracking workers and monitoring variables like, stress levels, fatigue, aggression and heart rate, and environmental variables like; like wind speed, time of day and temperature. fuseAware builds a profile of risk in real time for each individual worker on site, and sends an alert to the supervisor’s device should there be risk of danger.

 

What was it that inspired you to set-up your own business?

The inspiration and reasons to form my own business have changed over the years since forming my first business to my current business. But, what has been a constant is a desire to control my own destiny, and to form a business that makes a real difference to my work/life balance, to the people who work in my business and to our clients and users.  

The reason to form fuseAware specifically was because of being awarded a funding grant in 2016 from Berkeley Group’s £2m innovation fund to go ahead and build the fuseAware prototype.

 

What have been the biggest challenges you have faced so far?

Challenges come in all shapes and sizes in a start-up. From managing cash flow, recruitment, coping with growth, investor expectations, building a brand and culture - there are always challenges to overcome.

 

The biggest challenge though is making sure the business stays true to its values and vision. It’s easy to get distracted by the prospect of a new business which can take you off your original course. Flexibility and agility is key, but staying in line with the goals and objectives that your business has set itself is essential for the long term.

 

What advice would you give to budding entrepreneurs?

Don’t do it just for the money! Do it because you care about your idea or your industry. Clients won’t buy into your vision without you having a genuine passion for your business.

Once you have your idea and a clear plan of how you want to execute your business, make sure your start-up is well capitalised. Cash flow is key!

Everything usually takes longer than you think when you model your P&L and cash flow forecasts. Sales cycles can be longer, clients sometimes pay late – as an entrepreneur it is critical that your business has the oxygen (cash) to see you through your first trading period.

Also, don’t be afraid to ask for support. London has a fantastic start-up community. Other entrepreneurs are normally very happy to offer advice and support.

 

What is your proudest achievement to date as a company?

Changing behaviours and contributing to saving the lives of workers. Commercial success is obviously important, but we are very lucky at fuseAware that we are also able to build a business with such rewarding outcomes.

 

Do you think an Entrepreneur ISA and a Small Business Savings Allowance would have helped aid your company’s growth in the early stages?

The government are generally very supportive in helping entrepreneurs get their business off the ground. Benefits like entrepreneur’s relief and SEIS / EIS initiatives have played a huge role in helping entrepreneurs to capitalise their business. However, more can still be done. PAYE and Corporation tax for example for start-ups can really hurt cash flow as your business grows - so some further support in this area would be very helpful.

Initiates like Entrepreneur ISAs and Small Business Savings Allowance will play yet another important role in helping entrepreneurs in the early stages of a company’s growth.

David Redmond is the CEO of FuseAware

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