enterprise hub showcase 2019 · segments of pharmaceuticals, manufacturing and insurance. r.grid is...

Enterprise Hub Showcase 2019#HubShowcase

We believe the solutions to today’s most complex economic and social challenges lie in the minds of the brightest engineering and technology entrepreneurs.

We can help engineering entrepreneurs turn their ideas into reality by providing a unique package of funding, training, networking and mentoring from the nation’s leading engineers, and we don’t take a penny in return.

About the Enterprise HubFurther information can be found herewww.enterprisehub.raeng.org.uk

Get in touch @RAEng_Hub [email protected]

ContentsTrik Ltd 1

WaterScope 3

Slingshot Simulations 5

Research Grid Ltd 7

EcoNomad 9

G-PLED Technology 11

Wootzano Ltd 13

Zyba Ltd 15

Thermoelectric Conversion Systems Ltd 17

Metasonics 19

Textile Two Dimensional Ltd 21

Innersight Labs Ltd 23

Ideabatic Ltd 25

Aergo 27

SectorRobotics, AI and ICT

StagePre-revenue, seed

LocationLondon

Number of employeesEight

Management teamPae Natwilai, CEO

FinancialsTotal capital raised: £500,000Current post money valuation: £4 million

Trik Ltd

Disruptive solution

Drones can photograph a whole building quickly, making inspection more efficient and affordable.

However, photos from drones can be hard to use. For example, when looking at a close distance, all the

building’s windows look similar, which makes it hard to identify where each photo is located on the building.

Trik turns photos into a digital 3D model and maps all the photos onto the model. Users can quickly

search through large data, make annotations and measurements, or compare changes in 3D.

1 Royal Academy of Engineering

Market overviewThe digital twin market was valued at $1.82 billion in 2016 and is expected to reach $15.66 billion by 2023, at a compound annual

growth rate of 37.87% during the forecast period. Trik has seen high demand from engineering and construction companies to start creating digital 3D databases for digital twins, both in Europe and globally.

Pae Natwilai

2Enterprise Hub Showcase 2019

SectorHealthcare and medicine


LocationUniversity of Cambridge

Management teamDr Alexander Patto, CEODr Nalin Patel, Project management and financeSammy Mahdi, Electrical engineering leadDr Richard Bowman, Instrumentation and optical designTianheng Zhao, Software lead

FinancialsTotal capital raised: £250,000 (non-dilutive)

WaterScope

Company purpose

Contaminated water from bacteria is a global issue. Current methods for testing bacterial contamination

are complex and therefore outsourced to central labs, resulting in high costs and slow turnaround.

In Europe, increased regulation on testing is further increasing the demand for testing in sectors such as

drinking water, environmental water and industrial manufacturing.

WaterScope is solving this by enabling onsite testing with a simple to use, rapid bacterial testing device.


Market overviewGlobal microbiology and bacterial culture for the industrial testing market is expected to grow from $3.86 billion in 2016 to $8.23 billion by 2023 with a compound annual growth rate of 11.4%. This market includes drinking, industrial and environmental water, as well as

food and beverage testing. Market growth is caused by increased concerns about water and food quality and safety, alongside an increase in regulation prohibiting the use of biocides and increase testing frequency. WaterScope has a Horizon2020 SME Instrument grant to investigate drinking water and industrial water testing in European markets.

Dr Alexander PattoCollection cartridge

Collection kit

Imaging system




LocationLeeds

Management teamPhilip Padfield, ChairmanDr David McKee, CTOProfessor Jie Xu, Non-Executive DirectorJames Kitson, Non-Executive Director

Slingshot Simulations

Company purpose

Simulation is a highly specialised process that requires costly software and hardware. Slingshot Simulations

aims to democratise the use of simulation through cloud-enablement and machine learning. The automated, integrated, cloud-based service replaces complexity with

a fast, cost-effective and easy-to-use route to accurate massive-scale, real-time simulations.

Slingshot’s simulation-as-a-service solutions employ patent-pending optimisation techniques for automated

analysis of big data. The technology is based on over a decade of research and development, in close

collaboration with industry.


Market overviewAcross every industrial sector there are rapidly increasing levels of simulation for digital twins, optimisation, and ‘what if?’ analysis. In the UK, this is a $1.4 billion market across sectors including logistics ($610 million), smart cities ($324 million), and insurance ($460 million).

This will only increase as many large corporates adopt digital twin programmes and as society moves towards smart cities and greater levels of autonomy. Within the next five years it is anticipated that the simulation market for cities and autonomous vehicles in the UK will be worth in excess of $80 billion with a particular emphasis on safety, reliability, transparency, and trust.

Dr David McKee



StageRevenue-generating, seed

LocationLondon, UK

Number of employeesThree

Management teamDr Amber Hill, CEO

Research Grid Ltd

Disruptive solution

Research and development (R&D) is one of the largest and most resource-rich industries that still uses archaic

processes for market research. This leads to higher staffing and outsourcing costs. It also incurs longer run

times for data, regulatory and validation collection.

Reports are often manually composed and only offer limited information for protocol and product development.

R.grid uses data integration and analysis to streamline market research in healthcare and adjacent industries to

derive quick and strategic insights for customers.


Market overviewThe R&D industry is worth $2.3 trillion dollars according to a comprehensive 2019 R&D study. Globally, market research and healthcare are worth $151 billion. R.grid’s target market is the $50 billion including segments of healthcare and adjacent segments of pharmaceuticals, manufacturing and insurance.

R.grid is currently using two lean experimental models to penetrate these segments of the R&D industry. First, is a direct approach of the software platform for streamlined processing and data collection. Second, is direct data analysis of semi-unstructured data for the software.

The aim is for both methods to converge to generate a network effect, offering unique value for customers.

Dr Amber Hill


SectorClean and flexible energy


LocationLondon

Number of employeesTwo

Management teamDr Ilan Adler, CEO, FounderAlexander Demenko, COO and Co-founder

EcoNomad

Company purpose

Agricultural technology has made great strides in converting farm waste into renewable fuel and natural

fertiliser, but in Europe this is only widely available to large-scale farming operations. At present, the EU

produces about 1.4 billion tonnes of manure per year from livestock operations, while this sector accounts for 10% of

anthropogenic greenhouse gas emissions globally.

EcoNomad believes that efficient waste management solutions should be widely available and has set out on a

mission to help small farms improve resource management sustainability and agricultural waste recycling while

enabling their autonomy and self-sufficiency.


Market overviewThere are around 124,000 livestock farms in the UK, of which around 90% are considered smallholding and thus suitable for EcoNomad’s product. In the EU, where the company plans to expand at a later stage, the number rises to a staggering 5.2 million farms,

presenting a market opportunity of about £25.2 billion. At the moment, there are little or no players in this range, which was traditionally considered not lucrative for the investment required. The low-cost, scaled-down waste to energy system, which has already been trialled in pilot studies over the past four years, overcomes this barrier.

Dr Ilan Adler


SectorManufacturing and materials of the future


LocationExeter

Management teamLi-Ping Lu, Entrepreneurial Lead and CTOProfessor Monica Craciun, Scientific advisorProfessor Saverio Russo, Scientific advisor

G-PLED Technology

Company purpose

The era of rigid silicon-based electronics that have dominated the world is ending.

Flexible electronics have recently shown massive hype in the consumer electronics sphere, but many that have been showcased are not exactly flexible.

They bend in one point around a rubber hinge with two devices jointed.

This technology will address these pressing problems by adopting GraphExeter into flexible

electronics and enabling truly paper-like, flexible electronics at a low cost.


Dr Li Ping Lu

Market overviewFlexible displays, flat-panel lighting and printed sensors are emerging in the electronics industry. The target market is primarily focused on printed display technology. Flexible OLED-lighting solutions are expected to be rapidly adopted for automotive applications because of their increased performance

and novel design capabilities compared to current industry standards, and their lightweight nature makes them ideal for aerospace applications. A recent market report shows that the flexible electronics market is expected to grow from $23.92 billion in 2018 to $40.37 billion by 2023. A market study showed that the market for GraphExeter will be $500 million.


SectorRobotics, AI and ICT Manufacturing and materials of the future

StageRevenue-generating , Series A

LocationEdinburgh, Scotland, and Sedgefield, England

Number of employeesEight

Management teamDr Atif Syed, CEO

FinancialsTotal capital raised: £2.02 millionCurrent post money valuation: £6 millionRevenue 2018/19: Expected to be under £100,000

Wootzano Ltd

Disruptive solution

Wootzano’s novel, flexible electronics enable pressure and force sensing to solve challenges in the robotic handling of produce, such as fruit and

vegetables, for stakeholders from suppliers to major distribution businesses.

As the workforce in this sector becomes increasingly challenged, robot manufacturers require additional

capabilities and disruptive feature sets to be successful in a rapidly growing market.


Market overviewWootzano’s initial target market is robotic companies located domestically and thereafter internationally, including the larger US and Asia-Pacific markets. There is currently a boom in robotic automation to replace human workers because of improved productivity,

lower energy consumption and ultimately lower costs with greater reliability/dependability. This automation will be prominent in sectors such as retail, agriculture, catering, and hospitality. The industrial robotics market is estimated to grow with a compound annual growth rate of 11.92% between 2016 and 2022 to reach $79.58 billion (£62.50 billion).

Dr Atif Syed




LocationLondon

Number of employeesSix

Management teamDr Anne-Marie Warris, ChairDr William Bateman, CEOTara Massoudi, COO

FinancialsTotal capital raised: £2 million non-equity predominantly through research and innovation grants

Zyba Ltd

Company purpose

A rapid decline in the world’s coral reef population means that coastal communities are increasingly under threat as these valuable habitats fail to provide some of their

basic ecosystem functions, including coastal protection.

Zyba brings together a range of technologies to provide an environmental solution for coastal protection.

Using renewable energy (wave and solar) to power an electrolytic process, the company grows artificial

coral reefs faster than in nature. These reefs protect beaches while enhancing marine ecosystems and

encouraging tourism.

Engineeredby Zyba


Market overviewThe initial target market is coastal tourism: beachfront hotels and resorts in major tourist destinations. Hotels in Mexico and the Dominican Republic, for example, spend more than $400,000 a year on beach nourishment, which Zyba aims to alleviate.

Tara Massoudi

The initial focus is the Caribbean. The Dominican Republic alone has around 130 beachfront resorts, 78% of which are suitable for these reefs. Similarly, East Mexico has around 240 resorts with an average beach length of 200 metres. The serviceable obtainable market in these regions is approximately £150 million. Globally, the solution feasibly targets South America, Africa and Asia-Pacific, with an addressable market estimated at £4 billion a year.

Dr William BatemanDr Anne-Marie Warris




LocationGlasgow, UK

Number of employeesFive

Management teamDr Jonathan Siviter, Managing DirectorProfessor Andy Knox, Technical DirectorProfessor Dan Wright, Chair

FinancialsRevenue 2018/19: £180,000

Thermoelectric Conversion Systems Ltd

Company purpose

Thermoelectric Conversion Systems (TCS) has identified a major and growing problem worldwide: the failure of

internet and electronic communications caused by data centres and other electronic equipment overheating.

To help combat this problem, TCS has developed next-generation cooling technology for these systems.

Electronics systems, such as railway lineside signal cabinets, large data centres and mobile phone stations,

should be kept below 30°C to function reliably. All current cooling systems, whether ‘direct air’ or air-conditioning

based, rely on ambient air, but this can cause overheating failure in high ambient temperatures. This results in

disruption to travellers and users, lost revenues, financial penalties and service provider reputational damage,

which could affect share prices.


Market overviewEstablished markets for TCS’s cooling technology include railway trackside and road network markets, electronics control cabinets, and optics conditioning, as well as an electric enclosure market that is estimated to be worth $7.91 billion by 2023 (Source: MarketsAndMarkets.com). Its emerging markets are: 5G, which is expected to have 1.6 billion users by 2025 and 20x the number of towers and cabinets than required for 4G (over 40,000 in the UK and 200,000 in the US); smart cities, which will need intelligent roadside cabinets for autonomous vehicle infrastructure, dynamic satellite navigation and traffic signalling; and fibre communications, which will see a demand for wireless rural broadband, solutions for uncertain coverage outside of metropolitan areas, and Asia and Africa’s adoption of wireless infrastructure. The segment is dependent on a predicted compound annual growth rate between 18% and 30% from 2020 to 2025. TCS is positioned to serve and grow with all these markets.

Dr Jonathan Siviter




LocationBristol

Number of employees1.5

Management teamDr Mihai Caleap, Founder DirectorJaci Barnett, University Director

Metasonics

Disruptive solution

Metasonics’ new technology can focus, sculpt and direct soundwaves in real time, bringing enhanced control and

new functionality to sound.

Similar to how a projector transforms a single light beam into a vast and varied image, Metasonics technology

can make a single speaker sound like hundreds of individual speakers.

Using acoustic metamaterials, the technology is a cost-effective, compact and scalable solution with potential to

disrupt a range of sectors.


Market overviewMetasonics’ technology encompasses patented solutions that yield great benefits over competitive products, enable new applications and open up new markets. Sectors that could benefit include building and architecture, where the technology can be used for effective sound insulation ($16 billion). It could also

improve ultrasonic testing for non-destructive safety evaluation ($4 billion) in structures such as bridges, aircrafts and power stations. The technology also opens up new possibilities in medical therapies and diagnostics using ultrasound ($10 billion). Close-to-market applications of the technology include domestic windows that let in air flow but not sound and ultrasonic-sensor systems for mobility applications (autonomous vehicles).

Dr Mihai Caleap




LocationCambridge


Management teamDr Tian Carey, Managing DirectorDr Lauren McKeown, Project ManagerDr Felice Torrisi, Advisory BoardDr Siva Bohm, Advisory BoardProfessor Jong Min Kim, Advisory Board

FinancialsTotal capital raised: £128,000

Textile Two Dimensional Ltd

Disruptive solution

Wearable technologies are currently manufactured through weaving of metal wires, encapsulating rigid

silicon electronics in polymers or printing of metal inks. The use of these technologies in smart textile products

has been limited by their washability and flexibility.

Textile Two Dimensional offers end-product manufacturers a bespoke service to create smart textile

systems designed to their needs. The company’s process manufactures semi-printed and fully flexible wearable

electronic systems that are also machine washable.

T2D

Textile TwoDimensional

T2D


Market overviewThe wearable electronics market is a rapidly growing market that is currently worth £24 billion and is set to increase to £120 billion by 2026, driven by the success of wearable fitness trackers and medical devices. However, the market is evolving and the

smart textile market, currently worth £1 billion, is set to grow to £5 billion by 2026. The technology will involve seamlessly integrating technology into the fabric of our clothes. In the first instance, Textile Two Dimensional is targeting a segment of the smart textile market estimated to be worth £50 million with low barriers to entry.

Dr Tian Carey




LocationLondon, UK


Management teamEoin Hyde, CEOLorenz Berger, Chief ScientistMatt Gibb, CTOAndrew Barker, ChairpersonFaiz Mumtaz, Clinical AdvisorSebastien Ourselin, Scientific Advisor

Financials (if applicable)Total capital raised: £440,000Current post money valuation: £4.5 million

Innersight Labs Ltd

Company purpose

Innersight has developed an AI-driven surgery planning platform, built around its proprietary

machine-learning medical image analysis algorithms.

This platform allows clinicians to quickly construct interactive 3D models of their patients to help improve surgical decision-making and thereby

reduce healthcare provider costs.


Market overviewWith one-in-six operations resulting in a surgical complication, Innersight is tackling an annual $1 trillion global burden.

Additional challenges exist in the form of increasing use of minimally invasive surgery (10% compound annual growth rate) and a lack of expert medical scan readers (growth in scan acquisition is 7x higher than qualified radiologists).

Focusing on surgical oncology and orthopaedics surgery planning, Innersight has identified an initial target market value within Europe of £700 million, rising to £1.9 billion worldwide.

Innersight will sell its B2B SaaS surgery planning solution direct to private clinics and public hospitals using an annual subscription at a price point of £250 per patient model.

Dr Eoin R Hyde



StagePre-revenue

LocationLondon and Cambridge

Management teamKitty C Liao, Founder and CEO

Ideabatic Ltd

Disruptive solution

According to the World Health Organization, each year two to three million children die of a vaccine-preventable

disease and currently 19.9 million miss basic, life-saving vaccinations. Up to 85% of vaccines are spoiled before

they reach their destination and at least $1 billion of resources are wasted every year. This is because the

cold-chain in the last few miles of the delivery is broken. Last-mile immunisation campaign journeys can take up to seven days on foot, bikes, donkeys and canoes but current

solutions suffer from freezing or/and over-heating and only allow a 20-hour cooling threshold. Ideabatic’s SMILE smart last-mile vaccine carrier maintains vaccines within

the required temperature range (2°C to 8°C) for four to five days without electricity, eliminates human error and

reduces vaccine wastage to below 5%.


Market overviewThe total vaccine cold-chain market is at $20 billion, two thirds of which represents the cold-chain equipment (such as freezers and fridges, cold boxes, and vaccine carriers) market at $13 billion. According to PATH, approximately 70% of the vaccines that UNICEF procures annually are freeze-sensitive, which equates to $70 million per year.

It is estimated that more than 800,000 freeze-safe vaccine carriers are needed and more than 1.5 million non-freeze-safe carriers are in use and require replacement by 2020. PATH estimates that the potential market for freeze-safe vaccine carriers in 2020 is $117 million. More than 60% of the currently unimmunised 19.9 million children live in Nigeria, India, Pakistan, Indonesia, DRC, Iraq, Angola, Brazil, and South Africa.

Kitty C Liao




LocationLondon

Number of employeesFour

Management teamHsin-Hua, Yu (Sheana), Founder and CEOElliott Baxter, Engineering LeadIker Babace, Design LeadClaire Meagher, Clinical Lead

FinancialsTotal capital raised: £270,000Current post money valuation: £1,500,000

Aergo

Disruptive solution

Aergo was created to be the world’s first automated postural management system, initially designed for

wheelchair users.

It uses a network of patent-pending air cells to actively support individuals of all shapes and sizes. With automatic

and user-controlled modes, Aergo offers customisable support for a range of physical conditions.

Instead of being fixed in a static position, users can initiate air cycling between pockets to relieve pressure

and prevent the development of pressure ulcers.


Market overviewThere are 70 million wheelchair users who struggle to sit comfortably because of extended hours of sitting (World Health Organization, 2003). This leads to conditions ranging from lower back pain to pressure ulcers. Wheelchair seating is Aergo’s first target market, with powered and manual wheelchairs forecasted to

reach 10.6 million units in sales globally by 2020 (Global Industry Analysts, 2014).

In the UK, annual spending on specialist equipment was reported to be £720 million in 2014 according to Scope. Aergo’s first product is suitable for children, a segment of the market that alone was estimated to be £200 million a year in 2013 according to the British Healthcare Trades Association.

Sheana Yu


Royal Academy of EngineeringPrince Philip House 3 Carlton House Terrace London SW1Y 5DG

Tel: +44 (0)20 7766 0600www.raeng.org.uk@RAEngNews @RAEng_Hub

Registered charity number 293074

Front & inside back cover: Shutterstock.com

Please recycle this booklet (the cover is treated with recyclable laminate)

Royal Academy of Engineering

As the UK’s national academy for engineering and technology, we bring together the most successful and talented engineers from academia and business – our Fellows – to advance and promote excellence in engineering for the benefit of society.

We harness their experience and expertise to provide independent advice to government, to deliver programmes that help exceptional engineering researchers and innovators realise their potential, to engage the public with engineering and to provide leadership for the profession.

We have three strategic priorities:

n Make the UK the leading nation for engineering innovation and businesses

n Address the engineering skills and diversity challengen Position engineering at the heart of society

We bring together engineers, policymakers, entrepreneurs, business leaders, academics, educators and the public in pursuit of these goals.

Engineering is a global profession, so we work with partners across the world to advance engineering’s contribution to society on an international, as well as a national scale.

enterprise hub showcase 2019 · segments of pharmaceuticals, manufacturing and insurance. r.grid is...

Documents