Early stage advanced imaging & printing company

Background

ESIP, a Coventry-based innovation company, had spent seven years developing a disruptive imaging processor, to revolutionise the photographic industry. They recognised the need to bring an expert CEO on board to secure funding and successfully commercialise the product.

The imaging engine is an innovative technological leap in the process of applying light to photographic paper. Being faster, less costly and of higher quality, it displaces existing LCD and laser technologies. To demonstrate its capabilities, the company built its own digital photographic printer using the engine. However, challenges were identified around the transition from research and development (R&D) to commercialisation and this is where ESIP felt they would benefit from bringing additional experience into their business.

What we did

If the imaging processor was to become a viable product, ESIP needed the expertise of a commercial CEO to take the business forward. With this in mind, they contacted Intramezzo and were impressed by our ability to really understand their needs. The result was ESIP welcoming interim CEO Philip Jarvis to the business.

What Philip did

Philip recognised that, to make the transition from pure R&D into commercial production, ESIP needed a structured business plan and identified the two key stages that needed to be achieved to support that plan:

  1. An independent functionality assessment of the product
  2. An independent image quality assessment by a photo industry expert

Having achieved both of these objectives, Philip set about securing the largest amount of money raised in a single investment in the history of the product’s seven-year development. He succeeded in doubling the previous sum invested to raise £1.25million – and even managed to attract an oversubscription in a period of financial uncertainty. Philip did all this within his first five months in the role.

In addition, Philip had the foresight to see that the innovative technology would offer significant advantages in much larger industrial applications where precision imaging is also required. Examples include leading-edge, high growth sectors such as printed circuit board manufacturers and inkless printing for the labelling sector. From this insight, ESIP has been able to secure additional patents to address these vast new markets.

ESIP moved from an R&D setting to a production facility and began the re-engineering process. They put in place a new structure, resources and procedures with realistic targets and measurements to ensure their business objectives were met.

The results

Philip has taken up a permanent CEO post to drive forward marketing worldwide.

Philip successfully secured the funding required to bring the imaging processor to the global marketplace. Not only that, the machine was shown at the Photokina World of Imaging trade fair in Cologne.

Having achieved this astonishing result it isn’t surprising that Philip has taken up a permanent CEO post to drive forward the marketing of the new product range worldwide.

By understanding ESIP’s needs and culture, Intramezzo were able to profile and find the CEO who could bring about the radical shift needed for the company to make the leap from R&D to commercial business. To add further value, one of Intramezzo’s directors brokered the early stage of a £2million grant proposal for R&D.