Founded 2005 2003 Idea Industry based (from Research based technology foresight) Technology Patented Patented Competence in firm CEO with engineering and CEO with background from business degrees, 10 year petroleum company and experience in supplier industry. Seniors with innovation/technology long industry backgrounds, development. Team with combined with “fresh” PhD’s different industrial Board of directors: “seniors” backgrounds and from industry, and investors. 5 experienced in technology board members hold total of development. 46 board memberships. Board of Substantial resource base for directors: “seniors” from industry, and investors. company 4 board members hold total of 48 board memberships. Substantial resource base for company Market niche Drilling and exploration Exploration technology technology Number of 6 employees, 6 consultants 17 employees Founder One of the founders work in Owns 1.3% of company, not the company, another is active hired as a consultant Ownership structure Venture fund: 28% On Oslo stock exchange Founders: 14% each Others: 15% (this has changed during our project) Planned 2009 (first product) Planned start 2009, postponed commercialisation Has development, and right of Relations with first refusal contract with Petroleum company has potential customers three petroleum companies bought substantial share in company Prototype made First product, working on Sept. 2008
Founded 2005 2003 Idea Industry based (from technology foresight) Research based Technology Patented Patented Competence in firm CEO with engineering and business degrees, 10 year experience in innovation/technology development. Team with different industrial backgrounds and experienced in technology development. Board of directors: “seniors” from industry, and investors. 4 board members hold total of 48 board memberships. Substantial resource base for company CEO with background from petroleum company and supplier industry. Seniors with long industry backgrounds, combined with “fresh” PhD’s Board of directors: “seniors” from industry, and investors. 5 board members hold total of 46 board memberships. Substantial resource base for company Market niche Drilling and exploration technology Exploration technology Number of employees 6 employees, 6 consultants 17 Founder One of the founders work in the company, another is hired as a consultant Owns 1.3% of company, not active Ownership structure Venture fund: 28% Founders: 14% each Others: 15% (this has changed during our project) On Oslo stock exchange Planned commercialisation Relations with potential customers 2009 (first product) Petroleum company has bought substantial share in company Planned start 2009, postponed Has development, and right of first refusal contract with three petroleum companies Prototype made First product, working on Sept. 2008
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