Cathexis Innovations is a name that many people are starting
to take notice of. Started by four engineering graduates about
two years ago, the company has come a long way from being
an idea born of late night coffee drinking to a company attracting
clients from all over the world. Their business – making
Radio Frequency Identification (RFID) easy.
“RFID is a quick, flexible, reliable way to electronically
detect, track and control a diverse range of inventory items,”
explains Steve Taylor, Cathexis president. “It is a
wireless tagging method with a tremendous potential to change
the way many people conduct and track their assets.”
And what does the industry think of this latest trend? Well
if there is one company that it would be beneficial to have
on side it would be Walmart. The retail giant made barcode
technology standard when they insisted their suppliers start
using it. Recently they announced that all their suppliers
must have RFID technology on board by the year 2005 if they
want to continue to do business with them. According to Mr.
Taylor, this gives the market a lot of confidence in this
Now there are already many large, well-established companies
in the business of end-to-end asset management solutions,
so Cathexis has had to work hard to find their niche. But
they certainly seem to have caught on to something.
“We did not set out to compete with companies that are
already providing the complete system. Instead we want to
be RFID enablers. We provide the technology platform that
clients can use very easily to deploy the technology and best
of all it can be integrated into their existing systems.”
Since taking this approach, Cathexis has been able to focus
on building software that can allow this integration to happen
seamlessly and cost-effectively. Realizing that people have
a tendency to stick to what they know, they have made it their
goal to make it as user-friendly as possible. And so far,
clients have really responded to their approach.
They are currently working with a company in India helping
them to track large containers being shipped around the country.
They also recently entered into a working relationship with
Micromain of Austin, Texas, a large asset management company.
And locally they have a contract with the Offshore Safety
and Survival Centre tracking fire fighters in real time while
they carry out fire and rescue scenarios.
Cathexis plans to start implementing their marketing campaign
and meeting with global leaders in the asset management business
over the next six months. They are also looking for office
space off campus and hope to be set up in their new location
by the fall. But they will maintain a close connection with
Memorial through the INCO Innovation Centre.
“Everyday is a learning opportunity for us and a chance
to grow as a company,” adds Mr. Taylor. “We like
to keep busy learning what works and what doesn’t. We
are all very committed to making this company succeed.”