Industry: Other Region: UK Transaction Price: USD 1 million Transaction Method: Equity Financing
Description of Requirement:
A British company has invented a patented device to assist in moving heavy objects. Versions of this device are individually designed for specific products that use technology, such as washing machines, office equipment/furniture, microwave ovens, filing cabinets, large medical equipment. The company seeks to enter the international market through a licensing/manufacturing agreement with manufacturing partners in the furniture and white goods sectors
details:
The British SME, founded in 2015, has invented a patented device to assist in moving heavy objects. A company director who has worked in the retail furniture industry devised a solution that enables all kinds of people to move heavy objects.
The present invention is a miniature, spring-loaded ball transfer device with a click action. The design of the device allows for a custom fit for specific products, such as washing machines, office equipment/furniture, microwave ovens, filing cabinets, large medical equipment, which takes into account the weight distribution, size and shape of the object.
It is an unobtrusive unit with the following features:
● Once attached to each corner of the object, a simple push-down motion is performed on the object to move the ball mechanism, allowing the product to be moved.
●Once the object is in place, press the object again to activate the pivot mechanism.
●The pivot mechanism replaces the ball with a more stable platform, making the product more stable on the surface.
The company's market research has identified two potential markets; one involves manual handling, with an estimated 500,000 commercial sector workers suffering musculoskeletal injuries as a result of manual handling in the workplace, according to data reference, which is an annual cost for UK businesses. The cost is estimated at £1 billion.
Two deals with assisted living and provides a device to help 14.9 million people aged 60 and over in the UK. The proportion of the population over the age of 65 is currently 8%. The company can save money by retrofitting existing furniture/color appliances, and can also improve the quality of life of individuals living in their own homes.
UK patent granted in 2016 and pending in Europe/US.
The British company is looking to enter international markets and is seeking collaboration with manufacturing partners through licensing/manufacturing agreements. The ideal partner would be a widget manufacturer or a furniture/white goods manufacturer. Partners will contribute manufacturing technology and market knowledge.