See how a former Siemens technology laid the foundation for an award-winning company in the field of 3D vision systems.
How to build a business out of an existing technology?
The first 3D cameras hit the market in the early years of the new century. At that time, Siemens worked on the development of 3D vision systems, driven by applications in the automotive industry.
Dr. Georg Bodammer, Senior Venture Director at Siemens Technology Accelerator (STA): "Our market analysis showed that the Siemens technology had some distinct advantages compared to other available solutions. For example, high resolution, fast image acquisition, outdoor capability, and the opportunity to use off the shelf components. The last point, in particular, allowed us to test the technology quickly in the market and use customer feedback for improving the first product according to their needs."
Building a new company from scratch
Georg Bodammer: "In our opinion, all the prerequisites for building a completely new company were fulfilled. Those are: solid patent protection, a clear gap in a very lively and fast-growing market, positive customer feedback about the prototype, a strong team, and the prospect of promising future exit opportunities.
In 2010, we assembled a team of external technology experts and entrepreneurs to start Odos Imaging in Edinburgh, Scotland.”
What does the company say?
Commitment and team spirit
Chris Yates, member of the founder team of Odos Imaging and former CEO: “I joined the project in 2009. STA's approach convinced me because of their track record in supporting the commercialization of technology which has both a defined market need and a solid foundation of intellectual property. It was an advantage to work together with the developers at Siemens, making use of their contacts in the industrial world, and their extensive support to kick-start the company. Right from the beginning, everyone showed full commitment to the project to realize the vision of Odos Imaging developed at STA.”
Reputation building and ongoing improvement
Chris Yates: "3D imaging technology is used in an many different demanding applications, such as logistics, industrial automation, agriculture, and traffic systems. This allowed us to grow in multiple different industry verticals. STA supported us by identifying open-minded and innovative companies in Germany who were ready to work with a young start-up company in the industrial field. They made sure that the technology transfer from Siemens Technology was smooth. The knowledge exchange with the Siemens Technology technical experts really accelerated our progress. The most rewarding moments of the project? Winning the “Vision Award” in 2014 - the premier accolade in our industry, and our successful exit in 2017 which has allowed the team and technology to grow and reach an even wider market.”
It was inspiring to see how our team created a world-leading 3D imaging product from its origins in Siemens technology and redefined the state of 3D vision systems in the market.Chris Yates, founder CEO at Odos Imaging
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We are looking forward to get in touch and discuss how we create technology-based businesses.
If you are a Siemens employee and want to apply for a Siemens Technology Accelerator project, you can contact us as well via the contact form button on the right.