A team comprised of four students from Georgia Institute of Technology and one from the University of Puerto Rico won the inaugural “FreightTech Innovation Challenge” that concluded Saturday in Chattanooga.
As described in this article from Friday’s edition of teknovation.biz, the two-day event was a collaborative of rapidly growing FreightWaves and CO.LAB. The winners (pictured below) were awarded a cash price of $5,000 for their innovative transportation and logistics solutions based on a case they received 24 hours earlier.
In a Twitter post, FreightWaves wrote that “the students reorganized the supply chain and rationalized operations to create a more efficient model that would give the firm a foothold for future expansion in an e-commerce world, a common problem with which many businesses are currently struggling.”
Shaiv Gandhi, a student at Georgia Tech, described the solution as follows: “We used a balance of data and common sense to come up with our solutions to make our case. If the data didn’t make sense, we looked at why it didn’t work and worked together to find solutions.”
The student teams used FreightWaves’ SONAR technology system, which is a first-of-its-kind freight market data and analytics platform, to help find the most efficient and cost-effective transportation and logistics solutions for the customer in their case.
Here is a photo of the winning team, posted by FreightWaves, and a group shot of all participants, posted online by CO.LAB.