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
60% 59%
50% 46%
40%
30% 27% 25 %
20% 17% Proportion of projects 13% 11% 10% Proportion of total turnover 3% 0% Under 100.000 100.000 - 500.000 - Over 2.000.000 500.000 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) Technical 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 % International RCN contracts project support 14 % 18 %
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
56% 7,4%
Marintek AS 63%
Forvaltning Forvaltning 25% 75% 61% 14,3% SpinOut Venture II AS SINTEF Energi AS SINTEF
100% SINTEF Venture II AS 100% 14,3% SINTEF Venture III AS 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 Revolt Technology AS Seed High quality batteries based on metal-air fuel cells 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 Crusin AS Seed Resusable crucibles for solar cell production 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 Optosense AS Venture Sensors for demanding gas measurement applications 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
poLight AS Seed Cost-efficient autofocus lens for micro cameras 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.noSinvent AS 28