Newsletter - Spring 2019

Main Story

The last couple of months have been spent on important decision making for the company’s future, and defined our next direction. To begin with, we spent time strategizing and made calculations about the potential commercialization of the Drone Glove. We made a deliberate decision to move away from B2C, and the door to new opportunities in the B2B market opened up.

By use of our connections, we managed to get a partnership with a highly recognized consulting company, Norconsult. In addition to Norconsult, we have been in touch with other big companies and agencies by attending and showcasing our technology at the energy conference: Energy:Connected 2019.

3 highlights of the last couple of months

• We moved away from the commercialization of the Drone Glove, and into a more complete solution including a module based software solution and entering into the VR market. (see long version for more info)
• Partnered up with Norconsult and got 3 sponsored summer internships (+ 2 from Nordic Semiconductor
• Attended at Energy:Connected 2019 and were invited to TCS Innovation forum in Brazil

3 priority goals for the next couple of months

• Complete project accounts for “Skattefunn” projects and Innovation Norway
• Prepare summer projects of VR implementation
• Redesign and go live with our new website

Long list of content

• Strategy decision; Module based software, and into the VR world!
• Bleeding Edge by Norconsult
• Energy Connected 2019
• TCS Innovation Forum in Brazil
• Financials and economy
• Software platform concept
• Workshop: Humans and Robots – Going to the moon together

Strategy decision: Software platform concept

By comprehensive calculations and evaluations, we have decided to move away from the commercialization of the Drone Glove. Our calculations show that it will cost a lot of both time and capital to implement a market introduction that possibly but not necessarily will be profitable.

To realize our company vision, (Capture Human Intent) in both short term and long term, we need certain systems. Lately we have explored the idea of having a universal software platform to connect our glove to all applications of the technology. This will include the glove and a driver, the software platform itself, and different modules for different applications (see picture below). This way it will ease the user experience, we will receive user data for research and it can potentially produce a positive revenue stream.

Strategy decision: Into the VR world!

Together with Norconsult, we will implement our glove technology in the VR environment, make it compatible for use during the summer, and explore relevant use cases. The Target Market is Heavy Industry that utilizes VR for product modeling, and planning and design engineering. We will integrate our solution in Norconsults current systems by making a module for the software platform tailored to their needs. In addition we will be making modules for the Unreal engine, and later on a Unity module.

Bleeding Edge by Norconsult

Norconsult have realized that in these times it’s necessary to innovate and use new technology, which have led to an innovation conference exclusively for Norconsult’s employees. With our connections we managed to get invited to this event and showcase our technology. Norconsult was impressed enough to sponsor us 3 summer internships with the goal of implement our technology in a VR environment. Completely in line with our new strategy choice!

Energy:Connected 2019

We were invited to Energy Valley’s annual conference and technology exhibition; Energy:Connected 2019. It’s one of the leading energy conferences in Europe and includes all of the main companies in the Norwegian energy sector. We met a lot of interesting people and showcased our technology to the masses. It was a success with a lot of great feedback and making of new business opportunities. One of the highlights was meeting with dr. Pascal Lee, Co-founder and chairman at Mars Institute, NASA. It was unbelievable fun to meet someone with similar visions for our technology!

TCS Innovation Forum in Brazil

We were lucky to be invited to TCS Innovation Forum 2019 in Brazil to talk about the future’s control systems and our solutions. The conference is an annual initiative led by Tata Consulting Services that gathers the main leaders and the best minds in innovation to discuss solutions, trends and insights that can help drive the digital transformation.

Financials and economy

As today we are low on cash, a couple of thousands, waiting for remaining funding by Innovation Norway as soon as our accounting are taken care of. The remains from Innovation Norway means 311 250 NOK, which 70 000 NOK will be used to unpaid invoices. Through the summer months we will use approximately 70 000 NOK at personnel costs (inc. tax/fees). We will need to obtain additionally cash to the end of the year (specification will be studied through the summer).