Wed, 25 May 2016
Brian had an idea and prototype design around the use of a new energy-saving system that would switch off power sockets when no-one was in a room or office. This programmable system was based on motion sensors in a desktop device with wireless connectivity to control the sockets. Brian needed help to develop the Company. He required finance to complete product development of the system, to protect the Company’s intellectual assets and also to rapidly commercialise the system (Energy Egg) with major firms.
The status of the company was reviewed and an action plan developed. To help with cashflow, it was recommended that Brian attempted to win a Royal Society Enterprise Fellowship: which gives one year’s funding and entrepreneurial training to a young science or engineering firm. Later, as TreeGreen was demonstrating rapid growth potential, the Company was also invited onto SIE’s Company Acceleration Program where free support was provided in financing a business, commercial contracts and strategy. With a technology business, intellectual property is key, so SIE should support TreeGreen’s development of a patent portfolio. The Company was also encouraged to grow via a focus on sales and utilise a bigger network of people.
- Won a place on the prestigious Royal Society Enterprise Fellowship program (contributed circa £50,000 to the firm).
- The Company created an international patent portfolio around its core product.
- TreeGreen now has an impressive list of sales leads in a number of Blue Chip firms.
- Brian developed a useful set of consultants and advisors with useful, complementary skills to his own.
- The firm obtained sales from a large energy provider (EON) and a major shopping chain (Tesco). Brian planned to advance discussions on large, potential contracts with other UK and international energy providers and major DIY/food chains.
Update: commercialisation and sales
TreeGreen has continued to go from strength to strength following assistance and support from SIE and our team of business advisors. The product was successfully commercialised and from 2015 is currently selling in major retailers across the UK via a distribution partner. It can be found in Homebase, Tesco, Dixons, Amazon and Maplin.