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Case: Norlase
29-07-2015
Company Confidential
1
Agenda
Intro
Tech
Funding
Wrap Up
Intro to
Norlase
So what?
Investments
Lessons
learned
Business
Status
Market
Soft money
Thanks
29-07-2015
Company Confidential
2
Intro
Background
• Technology from Fotonik/Risø
• IPR filed and granted
• Commercialisation considered
• Team assembled by business developer
29-07-2015
Company Confidential
3
Team
Operations
Peter M. W. Skovgaard Oliver Hvidt
CEO
Business Dev
Michelle Stock
Danny Noordegraaf Nicklas Jarnel
Mathias Christensen
Sales and Marketing Sales & Business Dev Industrial PhD student
Lead engineer
DTU people
Paul Michael Petersen Ole B. Jensen
Senior Researcher
Professor
Peter E. Andersen
Research Professor
Anders K. Hansen
Post Doc
Jes Broeng
Business developer
External
David Hardwick
Chairman
29-07-2015
Jacob Philipsen Robert Plastow
Board member Board member
Cathal Mahon
Capnova
Per Ibsen
BA
Company Confidential
Kalle Hvidt
BA
Niels Korshom
BA
Dale Flanders
BA
4
Business Status
Sales
Go-to-market
• First laser units sold to OEM customers
• Development project sold to OEM
customer
• Many, diverse markets
• First market: pumps for microscopy
• “Hammer looking for nails…”
Products
• 3 standard models available
(prototypes)
Facility
People
• Based at DGIH
• Renting lab space at Risø
• 5 full-time employees + 2 part-time, US
29-07-2015
Company Confidential
5
Technology
Basis
• Laser based on semiconductors
• IPR on assembly and control
So what?
• Efficient
• Compact
• Robust
• Cheap
29-07-2015
Company Confidential
6
Markets/applications
TAM = $289 M
Norlase: 40 %
Scientific
TAM = $273 M
Norlase: 40 %
TAM = $170 M
Norlase: 50 %
Laser
Pumping
Life
Science
Norlase
TAM = $ 968 M
Share = $ 451 M
AVG. CAGR 12 %
Materials
processing
Instrument
& Sensor
TAM = $236 M
Norlase: 60 %
Lighting
29-07-2015
Company Confidential
7
Lessons learned
Team is key
• Broad competences
• Careful selection
• Motivation
• Keep team involved
Fund-raising
Before private investments
• Strong team
• First sales
• Sales focus
• Internal investment
• Secure IPR
• Dedicated fund-raising team
• Time consuming and defocusing
• Complicated: get help!
29-07-2015
Company Confidential
8
Thanks!
29-07-2015
Company Confidential
9