A recent interview with FeONIC senior management team revealed some helpful hints for technology start-ups...
Brian Smith - Managing Director
For 21 years Brian has been introducing innovation into products and he has been actively managing the process of conceptualising and developing new products for many of the key names in today's high street. He is particularly enthused by the huge potential of Smart Materials in consumer products and has already driven the company a significant way along the path to creating a valuable product portfolio.
Brenda Hopkins - Chairwoman
Brenda started the Company with academic colleagues from the University of Hull. She is an experienced Senior Manager in Sales and Marketing and passionately believes in the transfer of university ideas and technology into business to create successful products.
Do you have any tips for new spinout companies?
Brian Smith:
Never underestimate the cost and time it will take to bring a product to
a) production and
b) sufficient volumes to support the business.
Some say that it takes 10 years to establish a new technology in a market, and that the wilderness is a lonely and hostile place to be for this length of time.
Brenda Hopkins
My advice is to hang on to the vision of where you want to get to, and dig really deep when the going gets tough.
What have been the biggest challenges along the way?
Brian Smith
Despite learning many years ago that the client often did not know best I have been amazed at the naivety of some of our partners and their lack of good objective design direction. Actually I believe that there is a shortage of competent design directors around the world with the necessary experience to achieve repeated success.
Brenda Hopkins
One of the biggest challenges was to move from being a university research group to a commercial company. Egos have had to be dented on the way and my personal investment has had to be more than I was comfortable with in terms of both time and money.
