Describe the company – the elevator pitch
Traditional Buyer-Seller manufacturing procurement is based on pre-existing personal relationships perpetuating an opaque supply chain whereby 1/3 of buyers surveyed lament finding the right supplier remains a major obstacle amounting to billions lost in annual revenue among North American businesses. SyncFab removes the “trust tax” connecting Buyers directly with Manufacturers using a data driven smart manufacturing platform to source, track and organize precision parts procurement faster and more efficiently. We’ve created an online enterprise tool suite to make it easier and more efficient for company purchase managers – in innovating industries experiencing demand such as EV auto, space exploration, robotics, aerospace and more – to source, track and organize precision parts production. The company is now focused on upgrading SyncFab 3.0 to be the industry first public facing B2B smart precision parts machining and manufacturing blockchain and token incentivized supply chain which will be deployed using smart contract distributed ledger technology. SyncFab is working on it’s blockchain social impact solution for manufacturing supply chain in public private partnership with smart city projects leading to the company’s launch of a crypto token sale incentive for the manufacturing working class. SyncFab is on a mission to utilize blockchain, big data and smart manufacturing to improve economic and workforce development and clean energy optimization in production processes for a more transparent and responsible supply chain.
How are you different?
We are not a Fintech cryptocurrency offshoot but an industry focused incentive structure for a more responsive supply chain with attached industry specific payment solutions.
Why will you do well?
We have a real and needed Use Case in the large and critical manufacturing supply chain industry for the blockchain. With increased integration of the MFG token into new and existing manufacturing supply chains our aim is to incentivize manufacturers to be more responsive to RFQs as well as to create and maintain quality and authenticity certifications for precision parts present in assembled finished goods. The demand for the maintenance and verification of these supply chain records on the blockchain will drive increasing demand for the MFG as well as further incentivize manufacturers to use it for an ongoing revenue stream. We are a dedicated professional team who has been together for almost 5 years. SyncFab was not founded yesterday as we are an existing business with a collective trackrecord of experience exceeding 100 years. SyncFab is engaged in unique public-private partnerships part of a Federal Partnership called the Clean Energy Smart Manufacturing Innovation Initiative giving us confidential access to the data we need to drive smart manufacturing with access to 6 RMC “Regional Manufacturing Centers” around the US in the West, NW, SE, Texas, MW, and NE. Additionally Our company is also partnered with the City of San Leandro in collaboration with the City of San Francisco Mayors Office, Oakland and West Sacramento.
— syncfab (@SYNCFAB) November 30, 2017
Where are you based?
When was the company launched?
What have been your biggest wins to date?
Being recognized by the White House as Winning Industry Partner of the Federal Clean Energy Smart Manufacturing Innovation Initiative.
Who are you trying to attract to your product?
Our service targets Hardware Innovators, Manufacturers, Supply Chain Buyers and Suppliers, Fab Labs, Schools and Government Procurement Agencies. Ultimately we want to help all creative minded people with product Ideas, Engineers, Designers, Industrial Designers, Machinists, Industry Revolutionaries, Makers and more!
What tips would you give to others looking to build their business?
Expect the unexpected and plan for team and budget contingencies.
Tell us about your team?
Members of the team have been following blockchain since 2010 as developers and investors when BTC was $50. Blockchain was still unproven in 2013 when we started but during the last two years it has been showing promise, acceptance (community support, social media, etc) and lots of progress (less hacked, secure, not centralized, etc) with decentralized consensus which is why we decided to begin incorporating blockchain as a part of the evolution of our manufacturing procurement service half a year ago. It is a natural fit for smart contracts + smart manufacturing supply chain protocol.
What are your plans for the future?
To decentralize access to economies of scale manufacturing empowering hardware innovators of all kinds while securing their intellectual property and to make the manufacturing supply chain more transparent and more accountable for inclusion of local economies of environmentally responsible production.
What are your favourite tech gadgets?
What tech gadgets do you wish you could use to help you?
A fully immersive all in one rig AR/VR to cover visual, haptic/sensory and auditory
Anything else you’d like to add/we should have asked?
Many people are concerned about the stability of blockchain technology.
How does your platform address the instability of this new digital marketplace?
Although the blockchain technology is young it is already established itself as the new coming standard and rapidly deploying upgrades to address any instabilities associated with its growing pains. Our platform is being setup to incorporate fixes when and as they’re deployed.
How do people get in touch with you?
Here are our social media links