LumeoLoop Attachment: Commercialisation

Important results from the project

The purpose of the project was to build on the market verifications that was done in Step 1 and take the step further to commercialize the patented fastening technology, LumeoLoop, together with industry partners. The goal has been to secure a sustainable and local production in Sweden, and verify a scalable business model by bringing a number of products to market for commercial use with our partners.

Expected long term effects

The project resulted in 5 products being commercialized, and another 10+ ongoing integration projects where the technology is integrated into our partners´ products. Together with these partners, we established that a long-term deal is based on a licensing model with a structure similar to a subscription of our technology. We secured production in the Gnosjö region and during the project we have gained 2 more employees. The products that are commercialized are expected to give the effect of "rings on the water" which strengthens our position as an ingredient brand for wearable tech.

Approach and implementation

The project has been carried out with the customer in focus with a main goal: to Commercialize as soon as possible. 1) Integration project with several customers led to 2) major Beta tests where 50-100 of our partner´s customer test the products sharply and we analyze the results to 3) negotiate and close an agreement for manufacturing and licensing. To support the crucial steps, we had to: secure a manufacturer, develop commercial agreements, produce materials for customers, purchase machines & tools for beta testing, secure capital for continued growth via investors.