Domenico Colucci: Co-Founder, Nextome

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DOMENICO COLUCCI is Co-Founder, BoD Member, Business Development and Marketing Leader of Nextome. Degree in Computer Sciences from University of Bari Domenico has experience as a computer programmer and ICT consultant for several computer companies. He was the winner of the “Bollenti Spiriti” Program - Active Principles 2012 with the "Bull Prediction" project, a financial forecasting software. Domenico was named European best Young Web Entrepreneur 2015 by the European Commission.

How did you get into the industry?

Initially our product has been developed to guide visitors within museums, today our product is also used to optimize production within companies. With Nextome we provide a RTLS for people. Through our system a manager can see the position of employee, send messages to react to events and collect KPI. We have eliminated the calibration phase (technically fingerprinting). We provide tools for register and manage infrastructure, CMS to manage user data and API to communicate with third party services. Our algorithm works on phone and localizes user users with 1,5 meters of accuracy. We can do also asset tracking with the same technology and infrastructure.

Any emerging industry trends?

Yes, sure! Is a growing industry. The source IndustryARC says: The RTLS market size was $2.3 billion in 2014. This market is estimated to grow to $7 billion through 2020. The increased demand for RTLS in manufacturing and healthcare is forecast to drive the market.

Any industry opportunities or challenges?

We have a long-time experience in Indoor positioning. Last year we pivoted from visitors supporting and navigation to employees real-time tracking because we had strong request from customers who contacted us. In this field we acquired important customers. We want to extend this employee tracking technology for effective time saving also to retailer.

Inspiration for the business idea, and your vision for the Business?

In the last 10 years, satellite navigation systems (GPS) have changed the way users travel, but the real revolution in the industry occurred with the spread of smartphones. As wireless technology continues to improve and wireless networks are ever more extensively deployed, the feasibility of developing Location-Based Services (LBS) has attracted growing interest. Indoor is where people most live and work: average a citizen spends 90% of life indoors and the 80% of mobile data consumption originates from indoors (where GPS doesn’t work). We invented a positioning and navigation technology because it was what the market wanted us to do. Nextome's technology will be a standard for the industry over the years, and our vision is to become the leader in this market.

What's next for the Business in the near future?

In period 2016-2018 we want reach 1M$ cumulative revenues.

In five years we want expand to Europe and USA with three offices (Italy, Germany, USA) and more than 20 employees. We want to become leaders in workforce tracking cooperating with big players.

Your key initiatives for the success of the Business?

The company has followed from the beginning a “global born” approach; in April 2014 the team enrolled in Microsoft’s Research IPSN 2014 Competition in Berlin, and later in the year the team was in California on a benchmarking and instruction trip, at the end of 2014 it was named “Most Awesome Alpha Startup of the Year” by the online voters at Dublin’s Web Summit. The global positioning of the company remained a must of the company in the following two years of development being finalist and winner in several international innovation competitions as IBM’s Global Innovators in Barcelona Young ICT Leaders in Busan (Korea), followed by specialized international industry analysts (as Grizzly Analytics) and receiving request from interest and technology test by hundreds including large scale international organizations, and completing international patents. Nextome has developed a system integrating different owned and third party’s technologies to deliver IPS based solutions in different indoor environments characterized by specific challenges (e.g. ceilings heights, multiple floors, interferences, etc.) and application requirements.

Your most difficult moment at the Business? (and what did you learn?)

The biggest difficulty is because we operate in a new market, the spread of indoor positioning technologies, is very small for the difficult installation. Nextome has always been distinguished for scalability and ease of installation and we have learned from our customers that ours is the right way to become the leader in this market.

Ideal experience for a customer/client?

Our customers can benefit from a full analysis service. Thanks to Nextostats, Nextome analytics service, stored monitored staff behavior data can provide location based insights. Nextostats automatically collects, through an Cloud-based server hosted by Nextome, anonymous statistics about the system’s use in order to know which are the most visited indoor areas, the medium age of the visitors and their nationality.

How do you motivate others?

People who work in Nextome, they love the job because they have passion. Working with passionate colleagues promotes creativity, and that's what we want.

Career advice to those in your industry?

Never give up!

My advice is to continue improving skills and working with smart people.