How to improve your chances of getting approved for a personal loan

How to improve your chances of getting approved for a personal loan

How to improve your chances of getting approved for a personal loan

October 28, 2024

Improve your chances of getting approved for a personal loan<br />

Thinking about applying for a personal loan can feel both exciting and nerve-wracking, especially when it involves life decisions that will change your financial situation for the next couple of months or maybe years. And that’s not even half of what you will be worrying over because what if lenders rule out that you are ineligible for a loan and you plan to get married soon?

But here’s the good news: there are steps you can take to boost your chances of getting approved for the personal loan you aspire to. Stick with us as we give you some tips that will help you improve your chances of securing various personal loans, even if you have just been turned down or are just thinking a step ahead on your future purchases.

Compare and assess the lenders before you apply

Comparing various lenders does not only mean checking their reputation and assessing customer reviews. It is also about finding the one that suits your financial situation best with its flexibility in making the interest rates and loan terms. What’s good is that there are more options on where to look for these lenders in banks, connections from family and friends, and even from online lenders.

If all of that is not enough, there are “pre-qualify” options you can use so you can still see the estimated terms and interest rate even before committing and applying for a formal document.

Work on your credit score

Your credit score is like your identification to your reputation in terms of your finances, and this is also one of the first things a lender will check when you apply. Your credit score will give the lenders the data they need to know if you are responsible for how you handle money.

Improving your credit score is easy; if you pay your bills on time or pay your existing credit debt, you won’t have to worry about a low credit score. Just remember to maintain it, as even a little point can make a difference in your loan approval in the future.

Prepare your requirements in advance and double-check it

Although lenders vary in their loan terms, there are the standard requirements they will look for when you apply. Here are some of the common requirements so you can tick them off your list as soon as possible:

  • Your credit score, as mentioned above.
  • Debt-to-Income Ratio (DTI). A debt-to-income ratio is a document of your income statement and how much of it goes directly to paying off your debts beforehand. This is also crucial, especially if you need to check how much more you need to pay and if you are eligible to handle new monthly payments from the loans you’ve applied for.
  • Your proof of income, usually in the form of bank loan statements and even tax returns.
  • A certificate of employment is also crucial to know your employment status as well as your stability in the job you are currently working for.

In addition to this, and to make sure that your application will run smoothly, provide all the documents beforehand so you can prevent delays that might come your way, as well as make sure your personal information is correct and accurate in each document you submit.

Only ask for what you really need

Lenders love applicants who are articulate with their financial needs, and usually, these are the individuals they approve of faster. Some direct lenders do not mind if you are applying for a larger or smaller loan and would risk their chances with your application if they feel like you know exactly what you are applying for and where you are going to use the huge amount of money.

Conclusion

At the end of the day, saving up and having emergency funds for yourself will keep you out of the worry of having to apply for a personal loan. However, personal loans can be your friend if you know how, where, and why you need to use them.

Always remember that taking time to polish and improve your application and even having to wait for a few months to get the credit score you aspire to will all make the difference and give you better chances. Personal loans are financial commitments and should not be taken lightly. We hope you get the loan you aspire to, and best of luck!

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21 AI hardware startups that could change computing forever (2025)

21 AI hardware startups that could change computing forever (2025)

21 AI hardware startups that could change computing forever (2025)

October 28, 2024

Innovativ AI Hardware startups that are building AI's most powerful engines

Since AI has taken a big leap in the last few years, AI hardware startups are becoming a driving force when it comes to resolving the computational constraints that limit AI development These companies aren’t just creating alternatives to existing hardware, they’re fundamentally rethinking how AI computations should be processed at the silicon level.

With a market size predicted to reach USD 473.53 billion by 2033, AI hardware startups are bringing fresh perspectives and innovative architectures to the table. 

What are AI hardware startups?

AI hardware startups are companies that develop specialized computer chips and processors specifically designed for artificial intelligence workloads. Think of it this way, if regular computer chips are like all-purpose kitchen knives that can do many jobs okay, AI hardware is like a professional chef’s knife that’s perfect for specific tasks. Well, these startups are creating chips that can handle AI tasks much better than regular computer chips, kind of like how a sports car performs better on a race track than a regular car.

Top AI hardware startups

Complete list of the most AI hardware startups that are worth knowing:

SambaNova

Founded in 2017, SambaNova is a startup that builds advanced hardware and software for AI and data analytics. Their technology helps companies process very large data sets and run complex machine-learning models efficiently.

Many traditional computing systems struggle with massive-scale AI development and modeling. SambaNova designs integrated systems from the chips up specifically for the unique demands of machine learning. This allows much faster data training and analysis versus other cloud services or enterprise servers.

Cerebras Systems

Founded in 2016, Cerebras Systems makes specialized computer hardware to speed up deep learning artificial intelligence. They manufacture the Cerebras CS-1 system for organizations working with complex neural networks. At the core of the CS-1 is the Wafer-Scale Engine (WSE), the largest computer processor ever built. The WSE provides immense computing power by covering an entire silicon wafer, enabling more cores and memory than multiple traditional chips combined.

This specialized hardware runs deep learning models orders of magnitude faster than legacy servers. The CS-1 system is designed expressly to optimize neural network training and inference used for AI applications like image recognition, prediction, and natural language processing.

Lightmatter

Founded in 2017, Lightmatter is a startup developing next-generation computer chips that are extremely fast and energy efficient. They aim to power advances in AI, computing, and greener technologies. Standard computer chips rely on silicon transistors. But Lightmatter uses photons that transmit data at lightspeed while using minimal electricity. This photonics-based architecture allows their chips to perform calculations faster using less energy.

By moving AI and supercomputing to Lightmatter’s optimized hardware, researchers can accelerate discoveries. Companies can drive innovations faster to market in areas like drug development, materials science, and automation. More powerful, efficient computing also supports environmental goals by curbing energy waste.

Celestial AI

Founded in 2020, Celestial AI is a technology company working on faster data transmission between computer chips and components. They are developing optical interconnect technology which uses light instead of electricity to transfer information. Inside computers, data gets passed around between processors, memory, storage, and more. Celestial AI’s optical links offer faster communication speeds between these components compared to traditional electrical connections. Beams of light can transmit more data faster.

Specifically, their technology enables quicker transmittal of data compute-to-compute, compute-to-memory, and even on-chip communication flows. By removing processing bottlenecks, overall performance improves. Their optical interconnects will enable things like better on-chip cache memory access.

SiMa.ai

Founded in 2018, SiMa.ai is a technology startup focused on machine learning hardware and software designed for edge devices. Edge refers to computing done locally on devices instead of in the cloud. SiMa.ai is creating an ultra-low-power chip and software platform specifically for machine learning on edge devices like smartphones, wearables, and sensors. Because it happens on-device, edge machine learning needs to function with minimal power to preserve battery life.

The SiMa.ai solution enables advanced AI features for things like image recognition, voice control, and predictive user experiences without quickly draining batteries. Their processors handle intensive machine learning in an efficient, compact form.

Enfabrica

Founded in 2020, Enfabrica is a company that builds high-performance networking hardware optimized for artificial intelligence (AI) systems. As AI models become more complex, the computer networks that connect them need to transmit huge amounts of data quickly and reliably. Enfabrica offers networking solutions designed specifically for machine learning infrastructure across organizations. Their products are tailored to handle the immense data demands of deep learning and advanced analytics applications.

The hardware Enfabrica develops focuses on fast data retrieval which allows AI algorithms to train faster. Their networking gear features innovative chip technology to speed information flows from storage drives to compute cores, especially in big data environments.

EdgeQ

Founded in 2018, EdgeQ is a tech startup that’s developing new computer chips specialized for 5G networks and artificial intelligence. Their chips integrate both 5G communications technology along AI computing power into a single piece of hardware. Today most AI uses cloud data centers which have lag times. EdgeQ aims to eliminate that delay by putting intelligent computing directly into the 5G network at the “edge.” This allows AI algorithms to tap real-time data and then control near-instant response systems. Self-driving vehicles are a key use case.

The EdgeQ chips feature fully customizable software so they can be programmed for different roles post-manufacture. This versatile architecture maximizes utilization whether chips support a wireless carrier site, factory IoT devices, or telemetry sensors. As needs evolve, software adjustments retool the hardware.

Esperanto Technologies

Founded in 2014, Esperanto Technologies creates fast, energy-efficient computer chips and servers that power artificial intelligence (AI) applications. They build their hardware using RISC-V, an open standard system different from commonly used architectures today like x86. RISC-V gives computer chip builders more freedom to customize designs for optimal performance. Esperanto uses this flexibility to enhance speed and efficiency specifically for machine learning and AI computing workloads. Their RISC-V chips deliver top results in processing complex neural networks and modeling used in AI.

While AI holds great promise, it requires powerful computers to crunch vast data for self-learning algorithms. Esperanto’s innovation increases access to that needed computing strength through affordable, high-speed hardware. Their systems help companies deploy AI sooner to unlock insights and automation from big data.

Kinara

Founded in 2022, Kinara makes artificial intelligence chips and software to enable real-time decision-making in smart devices and gateways. Their Ara edge AI processors optimize energy efficiency so responsive AI can run even on low-power gadgets like phones or WiFi routers.

The Kinara technology is built around a patented design they call Polymorphic Dataflow Architecture. This allows AI computing to adapt in real-time based on the situation rather than running predetermined models. Paired with their comprehensive Ara software toolkit, this hardware can accelerate all types of AI applications.

LeapMind

Founded in 2012, LeapMind is a technology company working on new kinds of chip designs to run artificial intelligence software more efficiently. Specifically, they are creating hardware optimized for neural networks a type of AI model that mimics how the human brain works. Neural networks require lots of computing power. LeapMind is inventing chip architecture that allows AI processing at low power, which is important for applications like self-driving cars or mobile robots. Their chips aim to handle complex neural net algorithms that demand high-speed parallel execution.

Traditional CPUs are not fit for such intensive AI computation. By building chips from the ground up for neural networks, LeapMind can maximize performance per watt. This allows AI to run on small devices without overheating while still supplying the speed that advanced machine learning requires.

BrainChip

Founded in 2011, BrainChip is a company that makes software and hardware to speed up artificial intelligence (AI) and machine learning. Their products help developers build and run complex AI apps and systems much faster.

BrainChip offers advanced AI processor chips that rapidly crunch data instead of relying only on graphics cards or cloud servers. This allows machine learning algorithms, neural networks, and smart vision features to function in real time without delays. Their optimized design allows fast, affordable AI capabilities to get embedded into devices like home electronics, medical tools, drones, and cars.

Ambient Scientific

Founded in 2017, Ambient Scientific builds ultra-low-power AI chips used in devices like smartphones, wearables, and smart home products. Their processors help give gadgets more intelligence to respond to voice commands, identify images, understand gestures, and more, all without draining batteries. Many companies want to add AI features like digital assistants to their products.

However current AI chip options use too much energy for small battery-powered devices. Ambient Scientific designed miniaturized neural network processors that enable on-device inferencing while using very minimal power. This allows companies to embed AI and machine learning into all kinds of mobile, portable, and battery-powered electronics. For example, a security camera could now recognize faces without needing an internet connection. Or wireless earbuds could respond to voice even if your phone is off.

Boulder AI

Founded in 2017, Boulder AI assists other businesses in implementing artificial intelligence (AI) and computer vision technology. They have expertise in AI software, hardware design, and deploying vision systems.

Boulder AI works with clients who want to integrate AI and cameras or sensors to improve operations, catch issues, or gain insights from visual data. Example applications could include automated quality control in factories, smart video security systems, or analyzing customer behavior in stores.

DataCrunch

Founded in 2020, DataCrunch aims to simplify access to specialized infrastructure for AI experimentation and deployment in Southeast Asia. By taking care of enabling performance hardware and software, The ML Cloud lets users focus efforts on machine learning while DataCrunch handles flexible provisioning and management.

For data scientists or companies without expansive local GPU infrastructure, The ML Cloud delivers flexible access to high-powered systems. Users can run machine learning frameworks like TensorFlow and PyTorch on-demand. Configurations scale from single GPU nodes to multi-node clusters to parallelize intensive computations.

Graphcore

Founded in 2016, Graphcore is trying to keep AI progress from stagnating. Their IPU hardware and Poplar software give ML engineers, academics, and forward-thinking companies a new foundation to achieve the next AI breakthrough or business insight. Graphcore is democratizing access to tomorrow’s computing power today. With wider reach, the boundaries of what’s possible with AI expand even faster.

Existing PCs and servers use computer processors that weren’t built with AI tasks in mind. Graphcore’s IPUs are specifically architected to handle how neural networks learn and make predictions via massive parallel calculation. That means IPUs can deliver better performance for AI applications.

Syntiant

Founded in 2017, Syntiant fits powerful machine learning technology into tiny, optimized semiconductors ideal for size and power-limited IoT gadgets. Their advanced local inference enables responsive “thinking at the edge.” Whether in kitchen gear, vehicles, wearables, or elsewhere, Syntiant’s edge AI gives products more responsiveness and intelligence.

Syntiant’s NDPs process speech and audio directly on the device instead of having to route it to the cloud first. This allows more immediate and natural interactions for tasks like activating smart home systems. Their chips reduce the costs and connectivity needs of integrating edge devices with cloud platforms.

Ambarella

Founded in 2004, Ambarella designs advanced video chip technology for cameras and high-resolution applications. They are a semiconductor company that develops specialized processing chips that enable high-definition and ultra-HD video compression as well as image processing.

Ambarella’s video compression chips help optimize streaming and recording of 4K and even 8K video feeds. This allows for super-sharp image capture with rich detail even with file sizes optimized for storage and sharing. The chips also enable smart image processing for features like computer vision and AI-powered analytics.

Mips

Founded in 1984, Mips built the way for RISC computing which is used across virtually all modern devices today. As one of the pioneering fabless semiconductor firms, Mips continues to shape technology’s future with processors that enhance communication, automation, entertainment, and more through computing everywhere around us.

Their chips power computation for things like engine systems, infotainment displays, mobile hotspots, routers, and smart home hubs. By optimizing chip performance per watt, Mips enables advanced functionality even for small, battery-powered gadgets. Mips processors are valued for their ability to deliver speed, security, and versatility through innovative instruction sets and microarchitectures. Their designs consistently push the boundaries of efficiency and real-world effectiveness.

Groq

Founded in 2016, Groq aims to propel innovation in AI by creating the underlying processor technology to enable the next generation of intelligent algorithms. As machine learning advances, it requires specialized hardware that can keep pace. Groq provides that foundation for transforming big data into meaningful insights faster. Their multi-core tensor streaming processors give both researchers and companies the rapid processing muscle that AI needs as it continues advancing.

The Groq chip cuts latency drastically so predictions happen in real-time. And by optimizing the hardware to only what’s essential for ML, their more streamlined design drives energy efficiency.

Habana Labs

Founded in 2016, Habana Labs makes specialized computer chips to speed up artificial intelligence systems. Their processors help companies train and run deep-learning models much faster. Habana’s main product is the Gaudi processor for AI training. It processes neural network data very efficiently. The Gaudi chip enables companies to train complex models in less time using fewer computing resources.

They also offer the Goya chip which focuses on efficient inference – making predictions from trained models. Goya allows deep learning systems to provide real-time results. For example, identifying objects in a video feed. Both the Gaudi and Goya processors deliver substantial AI performance gains over typical computer chips in data centers today. Habana’s hardware is designed from the ground up to accommodate advanced neural networks.

ProteanTecs

Founded in 2017, ProteanTecs aims to fundamentally change quality assurance for the connected world of electronics. By observing chips in action, their technology provides the feedback engineers need to create and maintain more robust systems. From spotting flaws sooner to extending lifespan with preventative intervention, ProteanTecs helps electronics deliver durability at scale through the power of data.

The UCT cloud platform translates sensor readings into predictive analytics that pinpoint when and where a chip may be degrading over time. Monitoring performance down to the transistor level allows unprecedented visibility into the health of critical server, data center, car, phone, and IoT electronics.

Conclusion

Since traditional CPU and GPU architectures are almost near their limits, these AI hardware startups are building new roads in computing. While competing against tech giants like NVIDIA and Intel is quite challenging, these startups’ specialized solutions and targeted AI applications are offering promising opportunities to disrupt the market and redefine how we build and deploy AI systems.

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Key performance metrics to measure business success

Key performance metrics to measure business success

Key performance metrics to measure business success

October 25, 2024

Key performance metrics to measure business success

In the world of business, every business owner wants to go ahead. Just wanting something doesn’t produce results. It is a smart approach that makes you successful. Among many strategies, analyzing top performers gives you strong business insights.

It includes measuring revenue growth, profitability ratio, cash flow metrics, and also non-financial metrics. The only purpose of all these measures is to gauge your performance and growth. Getting real outcomes needs in-depth knowledge, which I have described in detail in this article. Let’s discuss.

The importance of financial metrics

There are many ways to define success in business. However, how well a company handles its money is still one of the best ways to tell if it’s doing well and can keep up with other companies. The best companies in different industries use a group of money-related measurements to see how well they’re doing. They also use these numbers to see how they stack up against other businesses like theirs.

Revenue growth

A simple way to measure success is by looking at how much money a company makes each year compared to the last year. Top companies often grow their earnings faster than others. This shows they’re getting more customers or selling more to their current customers.

Profitability ratios

Profitability ratios provide insights into a company’s ability to generate profits relative to its revenue, assets, or equity. Some key profitability metrics include:

  • Gross profit margin: This shows how efficiently a company produces its goods or services.
  • Net profit margin: This indicates how much profit a company generates from its total revenue.
  • Return on assets (ROA): This measures how effectively a company uses its assets to generate profits.
  • Return on equity (ROE): This shows how well a company uses investments to generate earnings growth.

Cash flow metrics

Top performers pay close attention to their cash flow, as it’s essential for maintaining operations and funding growth initiatives. Key cash flow metrics include:

  • Operating cash flow: This reflects the cash generated from core business operations.
  • Free cash flow: This shows the cash available for distribution to shareholders or reinvestment in the business. 

Valuation metrics

Valuation metrics are crucial for companies looking to attract investors or considering mergers and acquisitions. One of the most widely used valuation metrics across industries is EBITDA valuation multiples. These multiples provide a standardized way to compare companies of different sizes and capital structures. For a comprehensive breakdown of EBITDA valuation multiples by industry and size, you can refer to industry-specific resources.

Non-financial metrics

While financial metrics are important, top performers also look at other things to get a full picture of how well they’re doing. These other measures can be different depending on the type of business, but they usually include:

Customer satisfaction and loyalty

Happy customers are more likely to become repeat buyers and brand advocates. Companies measure this through:

  • Net promoter score (NPS): This gauges customer loyalty and likelihood to recommend the company.
  • Customer retention rate: This shows the percentage of customers a company retains over a given period.
  • Customer lifetime value (CLV): This estimates the total revenue a company can expect from a single customer account.

Employee engagement and productivity

Top performers recognize that engaged employees are more productive and contribute to better business outcomes. Key metrics include:

  • Employee satisfaction score: This measures overall employee happiness and job satisfaction.
  • Employee turnover rate: This indicates how well a company retains its talent.
  • Revenue per employee: This shows how efficiently a company utilizes its human resources.

Innovation and research and development

In many types of businesses, coming up with new ideas is very important to stay ahead of other companies. How companies check if they’re good at making new things, let’s see:

  • R&D spending as a percentage of revenue: This shows how much a company invests in innovation relative to its size.
  • New product revenue percentage: This measures the percentage of revenue generated from recently launched products or services.
  • Patent filings: This can indicate a company’s innovative output, especially in technology-driven industries.

Industry-specific performance indicators

While many metrics are universal, top performers also focus on industry-specific key performance indicators (KPIs) to measure their success:

Retail industry

  • Same-store sales growth: This measures sales growth for stores open for at least one year.
  • Inventory turnover: This shows how quickly a retailer sells and replaces its inventory.
  • Sales per square foot: This indicates how efficiently a retailer uses its physical space.

Technology sector

  • Monthly active users (MAU): This measures user engagement for software and digital platforms.
  • Churn rate: This shows the rate at which customers stop using a product or service.
  • Average revenue per user (ARPU): This indicates how much revenue a company generates from each active user.

Manufacturing industry

  • Overall equipment effectiveness (OEE): This measures manufacturing productivity.
  • On-time delivery rate: This shows how often products are delivered on schedule.
  • Defect rate: This indicates the quality of manufactured products.

Sustainability and corporate social responsibility

Nowadays top performers have increasingly focused on sustainability and corporate social responsibility as measures of success. This includes tracking:

  • Carbon footprint: Many companies now measure and aim to reduce their greenhouse gas emissions.
  • Diversity and inclusion metrics: This can include the percentage of diverse employees in leadership positions.
  • Community impact: This might measure volunteer hours, charitable donations, or other community engagement efforts.

Conclusion

High-performing organizations rely on a diverse set of metrics that encompass both financial and non-financial indicators to evaluate their performance. While universal metrics such as revenue growth and profit margins remain fundamental, forward-thinking companies also incorporate sector-specific KPIs and emerging measurements like ESG (Environmental, Social, and Governance) criteria. 

This holistic approach to performance measurement, often structured as a balanced scorecard, enables organizations to develop a comprehensive understanding of their operations and pinpoint improvement opportunities. What sets exceptional companies apart is not merely their ability to track these metrics, but rather their skill in translating these insights into strategic actions that enhance stakeholder value and drive sustainable growth.

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Top 23 OceanTech startups you should know in 2025

Top 23 OceanTech startups you should know in 2025

Top 23 OceanTech startups you should know in 2025

October 23, 2024

These oceanTech startups are solving ocean challenges with their unique approaches

Due to environmental concerns, economic opportunities, government support, consumer awareness, and technological advancements, OceanTech startups and renewable energy startups are becoming of vital importance. With a market size expected to reach USD 10.3 billion by 2032, these startups are destined to play a crucial role when it comes to addressing all those pressing ocean-related challenges and creating a more sustainable future.

Whether is developing innovative solutions for renewable energy, marine pollution, aquaculture, or ocean exploration, OceanTech startups are definitely helping us to protect our planet’s oceans and use the potential they offer.

What are OceanTech startups?

Now, you’re probably wondering what actually are OceanTech startups and for which reason they are becoming so popular. Well, OceanTech or BlueTech refers to startups and companies that develop technologies to help protect, study, or sustainably use ocean resources. This field includes several major branches like ocean conservation, sustainable fishing, marine energy, maritime technology, and the ocean’s big data analytics. These technologies are addressing issues like pollution, overfishing, and climate change while exploring new opportunities.

Top OceanTech startups

So, without further ado, let’s see all those new and trending OceanTech startups that are surpassing the competition in no time.

Arc Marine

Founded in 2015, Arc Marine is an ocean technology startup aiming to advance global coral reef restoration. They build specialized equipment for large-scale coral growing and transplantation efforts. Many reefs worldwide face threats from climate change, pollution, and other environmental stressors. Arc Marine partners with conservation groups on technologies tailored to rapidly revive damaged reef systems.

Arc Marine’s data-driven approach boosts outcomes over traditional manual coral farming. By integrating sensors plus salmon robotics to track growth metrics, their nursery systems can raise more vibrant, resilient coral varieties to revive degrading underwater ecosystems.

Sharksafe Barrier

Founded in 2014, Sharksafe Barrier creates underwater fences to keep sharks away from beaches and protected swimming areas. Their barriers deter shark entry while aiming to be eco-friendly at the same time. Sharks are attracted to certain electromagnetic fields and signals. Sharksafe harnesses those natural tendencies to develop high-tech boundaries. Their submerged fences interrupt shark neuroreception through low-voltage electromagnetic pulses.

This confuses a shark’s electroreception and drives them away without harming marine life. Made from environmentally inert materials, Sharksafe offers a reusable shark deterrent that is safe, hidden from view, and operates automatically.

Wave Swell Energy Ltd.

Founded in 2016, Wave Swell Energy has developed a unique technology that converts ocean wave energy into electricity. Their approach uses an artificial blowhole principle, where waves enter a concrete chamber and force air through a turbine to generate power.

The company’s system is designed to be both robust and efficient, capable of withstanding harsh ocean conditions while consistently producing renewable energy. Unlike some other wave energy technologies, their design has few moving parts underwater, reducing maintenance needs and improving reliability.

TCarta

Founded in 2008, TCarta specializes in marine geospatial products and services. They combine satellite technology, artificial intelligence, and advanced mapping techniques to gather data about areas of the ocean that were previously difficult or impossible to survey using traditional methods.

The company’s satellite-derived bathymetry (SDB) technology can measure water depths without the need for expensive and time-consuming boat-based surveys. This is particularly valuable in shallow coastal areas, remote locations, and regions where traditional survey vessels cannot safely operate.

I4Sea

Founded in 2016, I4Sea is a company that provides detailed weather and marine forecasts for the sea and oceans. They use advanced technology to analyze complex environmental data that can improve real-world operations and planning.

Specifically, i4sea creates custom forecasts of wind, waves, visibility, currents and other oceanic conditions. Their predictions help clients who need to account for external marine environments when making decisions – like ship captains planning routes, offshore wind farm operators, and more.

Ashored Innovations

Founded in 2018, Ashored Innovations aims to make commercial fishing more sustainable and environmentally friendly. Their technology addresses some of the most pressing issues facing the fishing industry today, particularly the problem of lost or abandoned fishing gear.

The company’s main innovation is a smart buoy system that helps prevent fishing gear from being lost at sea. This system includes GPS tracking and remote monitoring capabilities, allowing fishers to locate their gear even in harsh weather conditions. The hardware is designed to be durable enough to withstand rough ocean conditions while remaining environmentally conscious.

Samudra

Founded in 2022, Samudra is harnessing the natural carbon-absorbing properties of seaweed. Their innovative approach combines traditional seaweed farming knowledge with cutting-edge technology to create large-scale, sustainable ocean farms. The company’s robotic systems automate many of the labor-intensive aspects of seaweed farming. These robots can plant, monitor, and harvest seaweed with minimal human intervention. AI algorithms help optimize growing conditions by analyzing data from various sensors that monitor water quality, temperature, and seaweed growth rates.

Samudra’s technology makes it possible to farm seaweed in deeper waters and harsher conditions than traditional methods allow. This expansion into previously unusable areas significantly increases the potential scale of seaweed farming, and consequently, carbon capture capacity.

Anemo Robotics

Founded in 2023, Anemo Robotics makes robotic buoys to study how man-made ocean structures impact sea life and biodiversity. Structures like oil rigs, wind farms, and piers can negatively affect marine ecosystems if not properly monitored. Anemo’s autonomous buoys float around these ocean sites and use cameras, sonars, and other sensors to gather data. The solar-powered robots can stay out for months transmitting information on ocean creatures’ movements and behavior changes.

The data Anemo buoys collect helps experts assess habitat disruption and reduce ecological damage. Their tech also monitors erosion and structural fatigue over time catching safety issues before they become bigger problems.

Anchorbot

Founded in 2019, Founded in 2019, Anchorbot has developed technology to install helical anchors in bodies of water using remotely operated robots. Helical anchors are screw-like devices embedded in the ground or seafloor to provide a secure anchor point for buildings, pipelines, docks, and offshore structures.

Installing anchors in water typically requires divers which is complex and limited by depth. Anchorbot’s robotic tools can install anchors on the seafloor down to 100 meters deep from a small boat without any human divers. This allows anchors to be embedded deeper and for less cost than traditional methods.

Minesto AB

Founded in 2007, Minesto is a company developing a new technology called Deep Green to produce electricity from ocean currents. Deep Green uses an underwater kite with spinning rotors to capture the kinetic energy of currents, even those moving at low speeds. As Deep Green is pulled through the ocean by a tethered wing, rotors spin to generate clean electricity that is sent to shore via the connecting cable. This method generates renewable hydrokinetic energy in a cost-effective way from locations unsuitable for other forms of ocean power.

Minesto is working to commercialize and scale up the novel Deep Green system. They have successful testing sites set up in partnerships with communities in Wales, Northern Ireland, and the Faroe Islands. Deep Green electricity will first feed into local electric grids with plans to expand over time.

Seafields Solutions, Ltd

Founded in 2021, Seafields Solutions helps reduce climate change by farming seaweed in the open ocean. They grow large amounts of Sargassum, a type of free-floating seaweed. The seaweed naturally takes in carbon as it grows. Seafields created patented technologies to harvest seaweed efficiently from offshore aquafarms. The harvested seaweed can be processed into products like food, animal feed, and fertilizer. But a key goal is permanent carbon removal.

After seaweed products are made, the remaining carbon-rich plant matter is deposited on the deep ocean floor through pipeline systems. This locks away carbon that was removed from the air by the seaweed for hundreds of years, preventing it from returning to the atmosphere.

SafeWaters.AI

Founded in 2022, SafeWaters.AI is a mobile app that helps predict the risk of shark attacks at beaches worldwide. It uses artificial intelligence trained on over 200 years’ worth of shark data plus current marine weather conditions to forecast shark hazards.

The app provides a 7-day shark forecast for any beach globally. Factors assessed include water temperature, turbidity, tidal activity, and prior shark attacks in the area. SafeWaters combines this historical and environmental data in its predictive models to give beachgoers an overview of the shark attack risk for their location.

Wave Swell Energy Ltd

Founded in 2016, Wave Swell Energy has developed a technology that harnesses power from ocean waves to generate electricity. Their system not only produces clean, renewable energy but it can also function as a seawall or breakwater by protecting shorelines from erosion.

The Wave Swell technology works essentially like an underwater windmill. Its structures capture wave motion which turns rotors to activate generators for electricity production. Because waves provide consistent kinetic energy, the system can turn that mechanical power into an impactful new energy source.

Coral Sunscreen LLC

Founded in 2009, Coral Sunscreen LLC makes a reef-safe sunscreen that aims to help the marine environment while protecting skin. Their product is the first sunscreen formulated to regenerate coral reefs rather than harm them.

Many common sunscreen ingredients like oxybenzone are toxic to fragile ocean ecosystems when washed off swimmers. This causes damage to coral reefs and disrupts the balance of coastal waters. Coral Sunscreen created a patented formula that is both safe for your skin and restorative for reefs.

OceanZ

Founded in 2010, OceanZ is a startup working to gather better data about the health of our oceans. They created a sensor box that can be installed on ships across the global fleet. As vessels travel daily routes, the OceanZ sensor collects information related to ocean health. The sensor boxes measure things like water temperature, acidity, nutrient levels, and pollution.

OceanZ aggregates this data from all its sensors to build a comprehensive database of ocean conditions worldwide. By equipping existing ships with their monitoring gear, OceanZ can cost-effectively scale data collection across vast ocean areas. The sensor data is transmitted back to the OceanZ platform which analyzes it using algorithms and artificial intelligence. This reveals insights into climate impacts and human-caused changes affecting marine ecosystems.

IntelliReefs

Founded in 2017, IntelliReefs is a startup aiming to rehabilitate and improve ocean environments with innovative artificial reef technologies. They create nano-enabled reef structures that can help rebuild struggling underwater ecosystems. Oceans worldwide face challenges like coral destruction and declining biodiversity. IntelliReefs uses advances in nanotech and marine science to engineer reefs that invite the return of native species while also growing food and protecting coastlines.

Their patent-pending reef integration platform anchors reef root structures synthesized with smart nanomaterials for accelerated oyster spat adhesion and coral propagation. By mimicking natural reef textures, IntelliReefs provides the framework for new coral and oysters to take hold.

HydrokinetX

Founded in 2014, HydrokinetX is a company working to provide continuous ocean data collection using renewable energy sources. They have developed systems that are powered by ocean waves and currents, allowing their data-gathering platforms to operate seamlessly at sea. Most ocean data collection today relies on batteries or solar power, limiting how long equipment can monitor without interruption.

HydrokinetX’s marine energy systems harness reliable power day and night from the motion of the oceans themselves. This allows their platforms to conduct persistent ocean, weather, and climate studies over long periods of time. The company deploys its technology off coastal waters, gathering real-time observational data above and below the sea surface through sensors, radars, and other tools. This data goes towards not only improving weather forecasting but also our understanding of climate change impacts.

PescaData

Founded in 2022, PescaData offers software to help small fishing companies and groups operate more sustainably. Their platforms improve data collection and analysis for these important small-scale fishers. Specifically, PescaData systems allow individual fishers and co-ops to better record information on their catch, locations fished, and ocean observations. This data helps identify opportunities to reduce environmental impact and protect marine ecosystems that fishing livelihoods rely on.

The data also assists fishing organizations in making informed business decisions by identifying successful locations and times, as well as potential issues affecting yields or fish stocks. PescaData ultimately aims to promote interoperability and collaboration across the small-scale fishing industry.

SolarDuck

Founded in 2019, SolarDuck is focused on floating solar panels that can be installed offshore in bodies of water. With many countries setting net zero emissions goals, demand for solar power is growing rapidly. However, land space for ground-based solar farms is limited. SolarDuck aims to address this constraint by moving solar panel installations onto floating platforms anchored in lakes, reservoirs, and protected coastal areas.

Their durable floating structures support standard photovoltaic systems while avoiding land usage conflicts. Anchoring the solar arrays offshore removes space limitations and also increases sunlight exposure, boosting power generation. SolarDuck is positioning itself as an innovator in renewable energy systems tailored for the coming boom in over-water solar.

Jaia Robotics

Founded in 2020, Jaia Robotics makes robotic boats called Jaibots for collecting water data. Their small hybrid vehicles can operate underwater as well as on the surface. This allows the Jaibots to gather information throughout the whole water column from top to bottom.

The Jaibots are a fleet of mini robotic vessels that use sensors to take measurements. Because they are low cost and very fast, many Jaiabots can cover a large area at once to quickly build a complete picture of conditions. The data they collect can detect things like temperature, depth, and water chemistry.

Tini Scientific

Founded in 2022, Tini Scientific is the company behind the Clean Oil device which helps clean up oil spills. Clean Oil works differently from other remediation methods, it uses nano filters and a new mechanism to separate crude oil from water. The small device floats on open water, drawing in a water and oil mixture, then utilizing its patent-pending process to strain the oil out. The filtered water is treated and then drained safely back into the ocean, while the oil gets stored in compartments within the recovery unit.

Tini Scientific envisions Clean Oil units being deployed around ports and energy operations worldwide. Wherever oil transport occurs near water, these standby systems could mitigate environmental damage in case of any accidents. Their simple but smart use of nanotech materials packs powerful remediation ability into a compact, scalable device with applications across industries. By making rapid spill isolation and recovery more readily achievable, Clean Oil offers a new approach to protecting water.

Maritimepreneur

Founded in 2021, Maritimepreneur is an organization that aims to advance ocean industries and the sustainable development of ocean resources. They do this through the use of modern digital technologies as well as training, consulting, events, and educational programs.

The oceans contain vast natural resources and economic potential. However overfishing, climate change, and pollution threaten marine ecosystems. Maritimepreneur wants to build solutions that utilize the oceans responsibly while protecting them for the future.

Conclusion

Through innovative technologies and data-driven solutions, these OceanTech startups are not only creating profitable business opportunities but are also advancing ocean conservation efforts. Moreover, as governments worldwide strengthen their commitment to ocean conservation and sustainable blue economy initiatives, these startups are well-positioned to scale their impact.

Discover more creative startups that might interest you:

 

  • Modern B2B startups revolutionizing traditional business approaches.

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The best (and worst) excuses for being late to work

The best (and worst) excuses for being late to work

The best (and worst) excuses for being late to work

October 22, 2024

The best (and worst) excuses for being late to work

Did you know that 6% of hourly workers are late to work on average? Whether it is a sudden emergency or the alarm clock seemed to snooze forever, we’ve all encountered those frustrating situations that made being on time a challenge. Showing up late for work can be a stressful experience, especially in workplaces that use an employee time-tracking app, and it’s often something we try to avoid. But let’s face it, sometimes life happens and there’s nothing wrong with that.

Especially when unexpected events mess up our carefully planned work schedules. while some excuses for being late are legit, we can all agree that others, however, are just plain ridiculous and unreasonable. That’s where tools like an employee time tracking app come in handy, helping both employees and employers keep things on track.

The best excuses for being late

While it’s generally best to be honest and upfront about why you were late, sometimes offering a concise explanation without over-sharing is the most professional approach. A well-thought-out excuse keeps the focus on getting back to work and maintaining productivity. The importance lies in balancing transparency and professionalism, which will ensure the given excuse doesn’t distract from the situation at hand. With that in mind, let’s break down some of the most effective and commonly accepted reasons for being late at work:

 

  • Traffic accidents or heavy traffic: A classic excuse for running late is blaming unexpected traffic congestion or accidents on the road. Many people often cite heavy traffic or unforeseen road closures as reasons for their tardiness.
  • Public transportation delays: People frequently attribute their lateness to unexpected delays in buses, trains, or subway systems. The unpredictability of public transit schedules serves as a convenient scapegoat for those struggling to arrive on time.
  • Childcare or school emergencies: Parents often explain their lateness at work by citing last-minute issues with childcare arrangements or urgent situations at their children’s schools. These family-related excuses tend to elicit sympathy, as they highlight the challenges of balancing work and parental responsibilities.
  • Car trouble: Sudden vehicle breakdowns or mysterious car problems are commonly used justifications for arriving late to work or appointments. While sometimes legitimate, the frequency of this excuse has made it a somewhat dubious explanation in the eyes of many employers.
  • Family emergency:  Uncertain references to unexpected family crises are often employed as a catch-all excuse for tardiness or absence. The personal nature of these situations makes them difficult to verify, lending them a degree of plausibility while potentially raising suspicion if overused.
  • Power or internet outage: For those who work remotely, power cuts or internet connectivity issues have become popular excuses for missing deadlines or being late to virtual meetings. The reliance on technology for modern work makes this a believable explanation, though its credibility may tail off if used repeatedly.
  • Pet issues: Unexpected pet-related emergencies, such as a dog suddenly falling ill or a cat escaping the house, are increasingly cited as reasons to call out of work. While these situations can genuinely occur, their use as excuses has grown to the point where they may be met with skepticism in professional settings.

The worst excuses for being late

Although you might think it’s fine to be late occasionally, your boss may not share your point of view. Sooner or later, you may find yourself running out of legit reasons for being late, leading to increasingly poor excuses. When that happens, you’ll be left scrambling for excuses that are increasingly unconvincing. Considering this let’s see some of the worst excuses for being late that you should avoid under any circumstances:

  • I overslept: Besides showing poor time management and a lack of planning, this excuse is far-fetched and likely to be met with skepticism and eye-rolls since it can be prevented with alarms and good bedtime habits.
  • Couldn’t find anything to wear: The worst of the worst, this reflects poor preparation and isn’t seen as a valid excuse to call out of work. Matter of fact it can make you appear spoiled or unprofessional, as it suggests that your appearance takes priority over your work commitments.
  • I needed my morning coffee: Seriously? Using such an excuse is likely to be viewed as unprofessional and may lead to questions about your commitment to the job. It’s generally better to be honest about the real reason why are you being late and focus on preventing it from happening again.
  • My phone died and I didn’t know the time: A big no. This is one of those worst excuses for being late that can be easily interpreted as dishonest, as it’s hard to believe someone wouldn’t notice the passage of time or seek out alternative time sources when their phone dies.
  • I got lost on my way to the office: While this might work on your first day, it will soon become increasingly implausible the longer you’ve been employed.
  • Couldn’t find my keys: Classic line from the movies. This has been used so frequently that it has become a cliché, making it less likely to be believed even when genuine. Yes, we know that losing keys can genuinely happen occasionally, using this excuse repeatedly will likely be perceived as a sign of irresponsibility and may damage your professional reputation over time.

How to deliver an excuse professionally

Let’s start by being honest since it’s one of the best ways when it comes to delivering an excuse professionally. Keep your explanation brief, and on point, and take responsibility for the situation without oversharing details. Moreover, consider offering a sincere apology for any inconvenience caused and propose a solution or plan to prevent future occurrences. For example, you will stay late that day to complete your work or you will start leaving home 15 minutes earlier to prevent that from happening again.

When you arrive, follow up in person if you initially communicated remotely. Maintain a respectful and professional tone throughout, and avoid making any excuses repeatedly. Instead, use the experience as an opportunity to improve your punctuality and reliability. Remember, the goal is to acknowledge the issue, express genuine regret, and demonstrate your commitment to preventing similar situations in the future.

Conclusion

While unexpected circumstances can occasionally happen, relying on excuses, especially weak or implausible ones will damage your credibility and professional reputation with time. Instead of searching for creative ways to get out of work, focus on developing better time management skills, preparing for any potential delays, and fostering a habit of punctuality. 

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