LOOP Attachment System - New standard for wearable electronics to market.
| Reference number | |
| Coordinator | Lumeo Technology AB |
| Funding from Vinnova | SEK 300 000 |
| Project duration | October 2019 - June 2020 |
| Status | Completed |
| Venture | Innovative Startups |
| Call | Innovative Startups step 1 autumn 2019 |
Important results from the project
LumeoLoop is a world-unique fastening system for portable electronics & IoT that makes it quick, easy, and safe to fasten hardware to fabrics. The purpose of the project was to verify needs, applications, and challenges via pilot projects together with manufacturers of portable electronics in various industries, in order to be able to develop and scale the technology in the right direction. Furthermore, we have also developed the scalability of our technology for the global market to increase our competitiveness when our technology is launched sharply for production.
Expected long term effects
With the support from Vinnova, we were able to e.g. increase the number of pilots. The goal was 3 pilots and the result was 9 pilots with different partners and a waiting list with another 5 companies waiting to test LumeoLoop. As a result of the pilots, we have also identified 3 key markets to focus on and developed a scalable business model that we will verify in the next step. An unexpected effect that we observed was that customers, after seeing LumeoLoop, immediately started brainstorming new ways to use their products and also ideas for new products, which may lead to new innovations.
Approach and implementation
The project was divided into Market Development and Product Development. Market Development included 1) Market analysis. 2) Production of intro material/videos. 3) Sales strategy. 4) Leads generation. 5) Customer contact. 6) Revision of Market Analysis & Sales Strategy. Product Development included 1) Production of prototypes. 2) Optimize for feedback. 3) Verify scalability. In total, we developed tailor-made prototypes for integration with a dozen existing products to analyze the value that our solution added, and learn from the challenges of the end-user.