Novaut Interview

Today we have the pleasure of interviewing David Ibañez, founder of Novaut, an industrial marketplace specialized in automation and critical spare parts.

To begin with, David, could you tell us a little bit about what led to the creation of Novaut and how was your first contact with this sector?

I started with a blog, called “Novedades Automatización” (Automation News) which is where the Marketplace called “NOVAUT” came from, hence the name. I used to publish industrial automation news. Most manufacturers have a section where they publish their new products. I was looking at these sections and published an article about the product I found interesting. Little by little, the blog became known. All the manufacturers sent me press releases, we became Media partner of numerous industrial fairs and then I included the Marketplace in the blog. As it was already a well-known portal, the first year I got a lot of products and that´s when I decided to create NOVAUT and separate the blog from the Marketplace.

What obstacles did you face when starting out and how did you overcome them?

The most complicated thing was taking the step of leaving my job and betting on my project. At that time I was working as a maintenance manager for an important automotive company, I was doing well in this job and I liked it. Then I decided to leave it to dedicate myself to my own work and I didn´t have a salary. It was very complicated, I spent a year holding on as best I could. Then I got some funding that allowed me to get a salary and luckily the project began to take off.

Tell us about Novaut, what is its mission and vision?

NOVAUT is a marketplace for critical spare parts and automation components. A critical spare part is a component which, when it breaks down, stops a machine, an installation or even the entire factory. These are mainly electronic components such as PLCs, HMI screens, converters, variable speed drives, cards, pneumatic and hydraulic components. NOVAUT is a product concentrator. We have a very large catalogue of these types of components and this is one of the reasons why we sold in so many countries last year. We currently have over 500,000 products in localised stock and we receive enquiries from all over the world.

How has the process of growth and development of Novaut been since its foundation?

NOVAUT was founded in 2020, the Marketplace was launched in June 2020. As soon as we launched it, we got some orders. 2021 was dedicated to the search for funding, we got an ENISA and a small round of investment that allowed us to hire staff and continue developing our platform. In 2021, which was our second year, we managed to exceed one million euros in turnover, reaching almost 1.5. million. In 2022, we went from having around 160.000 products to more than 400,000 and in 2023 we have sold in more than 60 countries. Now in 2024 we are planning a second round of investment, which will allow us to continue to develop the platform and increase sales and then internationalise the company. Right now we would need three times as many people to be able to deal with all the applications we receive. Subsided from both the Basque Government and the Provincial Council of Alava have also helped us a lot.

What is the most valuable advice you have received as an entrepreneur?

Well, one advice that stuck with me was given to me by the head of a very important company here in the Alava Technology Park. He told me, now that the project has started, what you have to do is make the company work without you.

What advice would you give to someone who is just starting out?

Look for grants where you can help. They are quite and important aid tool. Be consistent. Finally, I would say that if you believe in your project, go for it. Dreams are there to be achieved and you have to try. The satisfaction of seeing how a project is progressing is very great, no matter how hard it is.