SINTEF Innovation Concept Sinvent AS 1
1. SINTEF Group 2. SINTEFs tech transfer operation 3. SINTEF spin-offs. Examples Sinvent AS 2
Technology for a better society Sinvent AS 3
Our partners The Norwegian University of Science and Technology, NTNU NTNU is a centre for technological education and research in Norway, with a solid foundation in the natural sciences. The University of Oslo, UiO The University of Oslo is Norway’s largest and oldest institution of higher education. Strategic Interaction NTNU personnel SINTEF employees working on teach at NTNU SINTEF projects Joint use of laboratories and instruments NTNU and SINTEF Collaboration in R&D Sinvent AS 4
Projects in SINTEF 59% 60% 50% 46% 40% 30% 27% 25 % 20% 17% Proportion of projects 13% 11% 10% Proportion of total turnover 3% 0% 100.000 - 500.000 - Over 2.000.000 Under 100.000 500.000 2.000.000 Project size in NOK, 2009 Size of projects and proportion of turnover (7216 projects for 2200 customers in total in 2009) Sinvent AS 5
Occupational groups in SINTEF 13 % (243) Adm. staff/leaders 6 % (110) T echnical personnel 9 % (166) Engineers 73 % (1376) Researchers Of whom 634 hold doctorates SINTEF has 2123 employees from 68 countries Sinvent AS 6
Investments (% of net operating revenues) Buildings Scientific equipment Sinvent AS 7
Gross operating revenue RCN basic grant Other sources 4 % of income RCN strategic 11 % programme 3 % RCN International project support contracts 18 % 14 % Public sector 11 % Industry and commerce 39 % The SINTEF Group turnover in 2009: NOK 2.8 billion Sinvent AS 8
SINTEF – organisation SINTEF Holding Sinvent AS 9
1. SINTEF Group 2. SINTEFs tech transfer operation 3. SINTEF spin-offs. Examples Sinvent AS 10
Sinvent AS is a wholly owned subsidiary of SINTEF, with corporate responsibility of SINTEF’s tech transfer operation SINTEF’s license portfolio SINTEF’s venture portfolio SINTEF’s IPR portfolio Sinvent AS 11
Organisasjonsstruktur 100% 100% SINTEF Holding AS Sinvent AS 97% SINTEF Fiskeri og 1,2% Havbruk AS Forvaltning Forvaltning 56% 7,4% Marintek AS 63% 25% 75% 61% 14,3% SpinOut Venture II AS SINTEF Energi AS SINTEF Venture II AS SINTEF 100% 100% SINTEF Venture III AS 14,3% Petroleums- forskning AS Sinvent AS 12
Sinvent AS - Management Anders Lian - Managing Director - BBA NHH - Norsk Hydro (7 years Norway, England and France) - Gjensidige NOR (10 years; Group financials, life insurance, investor relations and private equity) Nils Spidsøe - Director - Master of Science NTNU - SINTEF - 21 years in various positions - Research Director of SINTEF Civil and Environmental Engineering Jostein Bjøndal - Investment manager - BBA NHH, MIB NHH - SINTEF (5 years; R&D and management) - Leiv Eiriksson Nyfotek (3 years; innovation and investment processes) - Fokus Bank (2 years; Sales corporate market), Danske Securities (1 year; Corporate Finance) Kåre Herje – Financial manager - BBA, BA University of Vermont - Director – Export / Import companies for 5 years in US / Canada - IBM – 2 years (Facilities Planning) - SINTEF – 8 years in various positions at HQ Marit Cecilie Solem – Administration - SINTEF - 16 years in various departments and positions Sinvent AS 13
1. SINTEF Group 2. SINTEFs tech transfer operation 3. SINTEF spin-offs. Examples Sinvent AS 14
Venture portfolio Name Phase Industry Seed High quality batteries based on metal-air fuel cells Revolt Technology AS http://www.revolttechnology.com Biosergen AS Seed Development and license of Nystatin derivates for use in production of antibiotics against fungus infections http://www.biosergen.com ResMan AS Growth Permanent, wireless and reliable downhole measurement systems for inflow monitoring and control http://www.resman.no Seed Resusable crucibles for solar cell production Crusin AS http://www.crusin.no Comex Growth Technologies for production and classification of fine powders and optical separation of large particles. http://www.comex-group.com Ecowat AS Seed Equipment for water and gas purification and pollution handling http://www.ecowat.com Venture Sensors for demanding gas measurement applications Optosense AS http://www.optosense.com eDrilling Solutions AS Venture Systems for simulating, monitoring and visualising drilling operations in three dimensions and in real-time http://www.edrillingsolutions.com Seed Cost-efficient autofocus lens for micro cameras poLight AS http://www.polight.com SpermVital AS Venture Technology for embedding sperm cells in a gel for artificial insemination GasSecure AS Seed Systems for wireless gas detection Sinvent AS 15
Company established in 2004 based on technology from SINTEF Materials and Chemistry Shareholders: SpinOut Venture II (co- owned by SINTEF Venture and Verdane Capital), Viking Venture, Northzone, TVM, Sofinnova, RWE Innogy and management Develops and will market high quality batteries based on metal-air fuel cells Located in Zürich, Switzerland. CEO James P. McDougall www.revolttechnology.com Sinvent AS 16
Company established 2004 based on genetic engineering from SINTEF and NTNU Shareholders: SpinOut Venture II (co- owned by SINTEF Venture and Verdane Capital), Karolinska Development II and management Business concept: Development and license of Nystatin derivates for use in production of antibiotics against fungus infections Located in Trondheim. CEO Nils Spidsøe www.biosergen.com Sinvent AS 17
Company established 2005 based on technology from SINTEF and IFE Shareholders: SpinOut Venture II (co- owned by SINTEF Venture and Verdane Capital), IFE, Energy Capital Management and management RESMAN offers permanent, wireless and reliable downhole measurement systems for inflow monitoring and control Located in Trondheim. CEO Pål Vorkinn www.resman.no Sinvent AS 18
Company established 2003 based on technology from SINTEF Shareholders: SpinOut Venture II (co- owned by SINTEF Venture and Verdane Capital), Såkorninvest Midt- Norge, E-Co Norne and management Develops and will market resusable crucibles for solar cell production Located in Trondheim. CEO Arve Solheim www.crusin.no Sinvent AS 19
Company established May 2007, based on chemical and oil/gas competence in SINTEF Shareholders: SINTEF Venture III, Viking Venture II and Tore Skjetne The Company develops and will market equipment for water and gas purification and pollution handling Located in Trondheim. CEO Tore Skjetne www.ecowat.com Sinvent AS 20
Founded in 1998 – SINTEF license converted to shares in the company June 2007, as new investors joined the company Shareholders: SINTEF Venture III, ProVenture, Alliance Polaris, management Development and OEM sales of sensors for demanding gas measurement applications Located in Oslo. CEO: Terje Hanserud www.optosense.com Sinvent AS 21
Founded in 2005 as spinoff from Ignis ASA and based on SINTEF technology. SINTEF invested in 2008. Shareholders: SINTEF Venture III, Viking Venture, Alliance Venture and private and institutional investors Develops cost-efficient autofocus lens for micro cameras Located in Horten. CEO: Geir Gjørva www.polight.com Sinvent AS 22
Founded in 2008, based on well drilling research and results from SINTEF Petroleumsforskning Shareholders: SINTEF Venture III, Hitec Products Drilling AS and management Develops and offers systems for simulating, monitoring and visualising drilling operations in three dimensions and in real-time Located in Stavanger og Bergen. CEO: Rolv Rommetveit Sinvent AS 23
Founded in 2008, based on alginate research and results from SINTEF Energy Research Shareholders: SINTEF Venture III, Biokapital and Norsvin Develops and will deliver system and technology for embedding sperm cells in a gel for artificial insemination Advantage: increase in fertilisation period, and number of babies, for cattle and pigs and other animals Located in Hamar. CEO: Jørn Ulheim Sinvent AS 24
Founded in 2009, based on research and results from SINTEF ICT Shareholders: SINTEF Venture III, Proventure Seed and Viking Venture Develops and will deliver systems for wireless gas detection Located in Oslo. CEO: Knut Sandven Sinvent AS 25
Exits – some examples Sinvent AS 26
Spun out in 1998 from SINTEF Energy Research Listed on OSE 2005 Sold to Arendals Fossekompani AS i 2009 Markets software products and services for energy applications Located in Trondheim www.powel.com Sinvent AS 27
Sold to French Bacou-Dalloz June 2007 in a 120mUSD + earn out deal Investors by the time of exit: SpinOut Venture I (co-owned by Sinvent and Verdane Capital), Ferd Venture, Viking Venture and management Investors awarded “Venture exit of the year” by Nordic Unquote Nacre sells QuietPro, which is an adaptive intelligent hearing protector and communication terminal Located in Trondheim. www.nacre.no Sinvent AS 28
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