Forum for Science, Industry and Business

Sponsored by:     3M 
Search our Site:

 

Warwick University Spin-Out secures Funding for Fingerprint ID Technology

07.08.2006
2006 is already proving to be a busy and successful year for Oxford Early Investments (OEI), a business angel investment network that helps innovative companies at the early stages of commercial development to raise investment capital. The latest company to secure funding through the OEI Network is Warwick Warp Ltd, a spin-out company from Warwick University that is developing a highly accurate fingerprint identification technology for use in personal ID cards, passports and access control systems.

Warwick Warp raised £15,000 from two of OEI’s business angel investor members at a recent OEI investment meeting held jointly with Warwick Ventures, the technology transfer office of Warwick University. The company will use the new capital for the development of the first prototype.

Li Wang, Chief Technology Officer of Warwick Warp, said: “OEI provided an excellent platform for us to not only raise investment funds but also build up a close relationship with investors, both of which are crucial to the success of our business.”

“We are delighted,” said Ederyn Williams, Director of Warwick Ventures. “Warwick Warp is an exciting new company, and OEI helped us raise the small amount of vital funding needed in record time.”

The Warwick Warp deal is one of several that the OEI Network has brokered for developing companies during the past 18 months, raising a total of £473,000. Other companies that have raised funding through the Network include Water Innovate, a spin-out company from Cranfield University that develops new technologies for the water and wastewater industries, NanoSight, which is developing a nanoparticle measuring system, and Zeta Studies, a software development house for web based services and mobile data collection solutions.

Joanna Sobek, Manager of Oxford Early Investments, said: “OEI was set up to meet investor demand for very early stage investment opportunities, and to help companies that need small but crucial sums to develop their product beyond an initial ‘proof of concept’ – often the most difficult stage of company growth to fund. The Network has now established a track record for filling this gap in the market.”

OEI also held a lively investment meeting as part of Venturefest during July. Companies making presentations at the meeting included Exilica Ltd, who produce micro-beads and silica nano-shells that can be used in the slow release of perfumes and dyes, and Novolytics Ltd, which uses bacteriophages, a small virus that only infects bacteria, to combat MRSA.

OEI is also delighted to announce that H2O Venture Partners has agreed to sponsor the Network. H2O Venture Partners is a new investment company developing very early stage technology opportunities from universities, research organisations and existing companies. H2O invests in transformative technologies in all sectors at the beginning of the commercialisation process.

Dr David Kelly, Chief Executive of H2O Venture Partners, said: “H2O Venture Partners is delighted to sponsor OEI. The OEI Network plays an essential role in helping companies secure the funds they need for early-stage growth. H2O looks forward to actively contributing to the future success of OEI.”

The next OEI Investment Meeting is on 5 September 2006 at the Oxford Science Park

To find out more about becoming an OEI member or sponsoring the Network contact Joanna Sobek on 01865 811120, email j.sobek@oxin.co.uk or visit www.oxei.co.uk

Margaret Henry | alfa
Further information:
http://www.oxei.co.uk

More articles from Information Technology:

nachricht Ultra-precise chip-scale sensor detects unprecedentedly small changes at the nanoscale
18.01.2017 | The Hebrew University of Jerusalem

nachricht Data analysis optimizes cyber-physical systems in telecommunications and building automation
18.01.2017 | Fraunhofer-Institut für Algorithmen und Wissenschaftliches Rechnen SCAI

All articles from Information Technology >>>

The most recent press releases about innovation >>>

Die letzten 5 Focus-News des innovations-reports im Überblick:

Im Focus: Traffic jam in empty space

New success for Konstanz physicists in studying the quantum vacuum

An important step towards a completely new experimental access to quantum physics has been made at University of Konstanz. The team of scientists headed by...

Im Focus: How gut bacteria can make us ill

HZI researchers decipher infection mechanisms of Yersinia and immune responses of the host

Yersiniae cause severe intestinal infections. Studies using Yersinia pseudotuberculosis as a model organism aim to elucidate the infection mechanisms of these...

Im Focus: Interfacial Superconductivity: Magnetic and superconducting order revealed simultaneously

Researchers from the University of Hamburg in Germany, in collaboration with colleagues from the University of Aarhus in Denmark, have synthesized a new superconducting material by growing a few layers of an antiferromagnetic transition-metal chalcogenide on a bismuth-based topological insulator, both being non-superconducting materials.

While superconductivity and magnetism are generally believed to be mutually exclusive, surprisingly, in this new material, superconducting correlations...

Im Focus: Studying fundamental particles in materials

Laser-driving of semimetals allows creating novel quasiparticle states within condensed matter systems and switching between different states on ultrafast time scales

Studying properties of fundamental particles in condensed matter systems is a promising approach to quantum field theory. Quasiparticles offer the opportunity...

Im Focus: Designing Architecture with Solar Building Envelopes

Among the general public, solar thermal energy is currently associated with dark blue, rectangular collectors on building roofs. Technologies are needed for aesthetically high quality architecture which offer the architect more room for manoeuvre when it comes to low- and plus-energy buildings. With the “ArKol” project, researchers at Fraunhofer ISE together with partners are currently developing two façade collectors for solar thermal energy generation, which permit a high degree of design flexibility: a strip collector for opaque façade sections and a solar thermal blind for transparent sections. The current state of the two developments will be presented at the BAU 2017 trade fair.

As part of the “ArKol – development of architecturally highly integrated façade collectors with heat pipes” project, Fraunhofer ISE together with its partners...

All Focus news of the innovation-report >>>

Anzeige

Anzeige

Event News

Sustainable Water use in Agriculture in Eastern Europe and Central Asia

19.01.2017 | Event News

12V, 48V, high-voltage – trends in E/E automotive architecture

10.01.2017 | Event News

2nd Conference on Non-Textual Information on 10 and 11 May 2017 in Hannover

09.01.2017 | Event News

 
Latest News

New Study Will Help Find the Best Locations for Thermal Power Stations in Iceland

19.01.2017 | Earth Sciences

Not of Divided Mind

19.01.2017 | Life Sciences

Molecule flash mob

19.01.2017 | Physics and Astronomy

VideoLinks
B2B-VideoLinks
More VideoLinks >>>