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Imego works with both large and small companies. Our multi-faceted technical skills and market knowledge in respect of future technical solutions means we can deliver more than technological specialisation. It is our combination of technical knowledge and understanding of the conditions and market potential of small companies conditions that allows us to offer expertise to this group. We are therefore interested in building effective partnerships with small and medium sized companies within the development of new or existing products, our goal being to create sensor systems that are profitable for both parties. We believe that there is great potential for small, ambitious companies to increase both added business value and market growth through the application of new technology in current and upcoming products. Imego also offers unrivalled knowledge designed to fulfil these purposes thus creating more satisfied end users for your products. Imego is a vital cog in a professional network that includes private trade and industry as well as other research institutes and universities, both national and international. With our combination of research excellence and industrial expertise, we apply our unique knowledge at every stage of the product development process, from brainstorming through to prototype production, right up to the start of production. We are interested in all ideas that include, or could benefit from, applied sensor technology that can lead to projects with great potential from both a commercial and development perspective. For this type of development project, Imego offers its partners risk-shared development as well as high cooperative capabilities. Through experience, we have developed an advanced understanding of the requirements and conditions of small companies. Since Imego is a small organisation itself, it is easier for us to understand and utilise the advantages that small organisations have such as efficient decision making processes and proximity to market and technological development. On the other hand, we are very conscious of the challenges that issues experienced by small companies, such as a lack of resources for example, create. This means we are well acquainted with requirements such as informal working methods, flexibility and close collaboration that are important in order to be able to carry out technically advanced projects together with our partners while working within acceptable time and cost restraints.
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Collaborative Product Development | |
Imego's normal step model for collaborative product development begins with a pilot study where feasible technical solutions for the development idea are investigated. At this stage, risk assessment and cost estimates are also carried out, both for development costs and for the completed prototype as the product cost for the complete system. Parallel to this, the customer company carries out running estimates of the product’s market value and earning potential.
In respect of financing after the preliminary study phase (always financed by the customer company), Imego can partially finance its part of the development work. The points of departure for our assessment of the degree of financing are mainly based on the following: • What possibilities are there for Imego to get back sunk costs with sufficient margins to motivate the business investment?
• How well does the project fit into Imego's own strategies for forthcoming technology development?
• Will carrying out the project result in a significant rise in competence for Imego's personnel? Depending on the result of the above assessment, Imego can partially finance the continued development project along with the SME (we apply the EU definition of an SME - less than 250 employees and less than 25% ownership by a corporate group). Financing always takes the form of a price reduction for Imego's part of the project work. This is offset against a later payment in the form of licensing or a royalty, for example. Imego always budgets for the retrieval of sunk costs with a profit margin on the projects we partially finance. The size of the margin depends on the risks Imego takes and the time horizon for repayment.
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Contacts with other financiers | |
In order to provide small companies with as beneficial opportunities as possible for financing development projects, Imego maintains continuous contacts with different types of financiers such as NUTEK, Vinnova, Innovationsbron, the Knowledge Foundation, the Nordic Innovation Centre (NICe) and the EU. Through these connections we can offer companies advice on the range of possibilities within development support these financiers offer.
Participation in information and education projects Imego is an active participant in a variety of projects launched in order to disseminate knowledge on the opportunities offered by modern micro technology and sensor systems. Examples of these include the minST project (see own web page) financed by the Knowledge Foundation and the recently concluded MINUT project financed by NICe. The motivation behind participating in these projects is that they offer an additional opportunity for small companies to receive support in gaining competence and product development.
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Forms of cooperation and financing | |
The point of departure for every commissioned activity Imego undertakes is defined by a commitment to ensuring that the collaboration must generate products and expertise that leads to increased profitability for both parties. The basis for this is often a sound initial financial structure and smart ideas about company development. Imego's collaboration with small and medium sized companies is therefore always carried out in an entirely businesslike manner. Normally, the company commissioned activities we perform are financed directly by the customer company. The initial costs in conjunction with development and prototype development of new micro technology systems can unfortunately be seen as high in relation to the size of the development budget in many small companies. This often leads to difficulties in financing this type of development cooperation. Imego have developed some varied working methods designed to improve a small company’s capability in respect of this type of financing.
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