Tees Valley Twenty: Fine Equinity Ltd
We’ve been looking for businesses in the Tees Valley who are daring to do things differently by launching ground-breaking ideas as products, services and process innovations. As part of the Innovate Tees Valley Festival, BQ profiled twenty of the region’s most innovative businesses. Here, Fine Equinity’s managing director, Tim Jones tells us more about his business…
Describe your business in no more than 100 words
equinITy is a leading-edge web-based horse welfare, training and yard management tool. equinITy enables horsemen to watch and listen to their horse’s speed, heart rate and stride in real time, from anywhere in the world on any device. In short equinITy is a ‘fitbit’ for horses.
Which particular products and/or services make your business innovative?
The equinITy Intelligent Training system in its entirety.
What proportion of your service offer comprises new (under 3 years old) products, materials, technologies etc?
To what extent have the innovations enhanced the sales of your other products/services or led to future opportunities?
Fine Equinity Ltd was a start-up business founded in 2011 using pre-existing hardware solutions to drive the bespoke equinITy software developed for the purpose of collecting health and fitness data from horses whilst they are exercised under saddle. From 2013 to 2015 a bespoke hardware solution was also developed by Fine Equinity Ltd to complement the software and these innovations have not only been the foundation of the business but have driven all sales since the launch date in May 2015.
What new skills have been acquired by (and retained within) your company as a result of the innovations?
As a start-up business every day is a day of learning. We have been fortunate to have started with an experienced technological team whose ability to transfer their IT and software development skills to the task in hand has been completely instrumental in any successes achieved so far. Combined with a sales force experienced in the equine sector who are able to speak ‘horsemen’s language’ and owners of the company who have both the intellect to have identified an untapped market and the passion to pursue that market, the skills have been acquired, retained and are constantly evolving.
How do you innovate in the way you run your business?
The whole evolution of the business has been an innovation. Not only have we had to develop a product which did not previously exist but we have also had to educate the market as to why the product has a value to them.
What are your biggest professional achievements to date?
A fantastic product which has already gained credibility in the global marketplace.
Where do you see your company in five years time?
We have ambitions to make the word ‘equinITy’ as identifiable in the equine market as ‘fitbit’ is in the human market.
What advice would you give to aspiring innovators?
Know your market. Get your product right. Love your product. Get your pricing right. Have ambition and enthusiasm to burn.
This article has been reproduced with the permission of BQ Magazine. You can view the original article here