”I’ve spent 25 years in the tech industry and 15 of those working with digital twins. That technology applied to climate data can realize unprecedented advantages that will help businesses transition to net zero emissions faster”.
THE HISTORY OF THE ONTOLOGY WAY
The journey started back in 2020. At that time, Tove had a well paid job as Head of Platform Development at Ortelius. It was when she attended Breakit’s Scaleup Week and listened to Kaj Török, the Chief Sustainability Officer at MAX Burgers, that she due to his engagement and energy got inspired. Suddenly, everything seemed to fall into place.
”Kaj talked about the importance of adapting to sustainable business models and how the choices we make today decide our, and our childrens, future. It had a profound impact on me and in that moment I realized what I wanted to use my knowledge for.”
She quit her job and founded The Ontology Way. What she had realized was that her knowledge of digital twins and developing complex IT systems could not only be used in calculating climate footprints, but also to figure out how to reduce them.
THE JOURNEY AT MINC
Together with Max Burgers, they developed a prototype with simulation capabilities. It allowed for experimenting with ingredients and how different choices affected the carbon footprint differently. After initially building the company from home, she joined Minc in August 2021. At the same time Per Wendel joined as Tech lead.
Since then, things have been moving quickly. In January 2022 Tove pitched for Fast Track Capital III. The 15 minute long presentation was followed by a 45 minute Q&A where excited and curious investors took turns asking questions. Last week the decision was made and The Ontology Way will receive an investment to build a pilot.
”Of course I was nervous, but somehow I knew they would invest. That sounds arrogant, which is so not me”, she says laughing and continues: “But seriously, we help solve one of the most pressing issues of our time. Our approach is unique and our backgrounds are solid. Who wouldn’t want to invest in that?”
”Our goal with the MVP is to attract more customers and ultimately the right investor. We could choose to grow organically, but time is of the essence. The right long term investor can help us take our first steps and also to accelerate and grow internationally.”
The Ontology Way is getting traction and well known companies have already stated their interest in the product. The climate expert company they are working with has also shown interest in becoming co-founders. Tove is noticeably excited.
It’s in the company's vision that suppliers are evaluated not only on quality and price, but also on their emissions. Ultimately, they strive towards that consumers should be able to compare and choose products based on their carbon footprint. For this to happen, the footprint calculations need to be made the same way. It’s complex and not something The Ontology Way can do alone, but thet want to help by creating standardised algorithms.
At Minc, we believe in creating something bigger than yourself. We offer everything an entrepreneur needs to go from concept to market in-house. Our international network of advisors and award-winning programs will help your startup scale faster and smarter. Welcome to the startup house of Malmö. Om Minc På Minc tror vi på att skapa det som är större än oss själva. Vi som Malmös startuphus har ett komplett erbjudande för ambitiösa entreprenörer som vill få sina bolag att växa. I dagsläget rymmer huset bland annat Mincs Inkubator, den prisbelönade acceleratorn Fast Track Malmö, förinkubatorn Startup Labs samt nätverket för scaleups Minc Scale. Sedan starten 2002 har över 300 bolag gått igenom ett av Mincs program. Dessutom förvaltar Minc även ängelinvesterarbolaget Fast Track Capital, och har ett starkt nätverk av investerare. Minc ägs helt av Malmö Stad med målsättningen att skapa tillväxt och investeringar i Malmö.