Securing Funds for a Demonstrator Platform
“As a startup company consisting of only newly graduated students, it has been difficult to understand and apply for soft funding. Coming in contact with Aero EDIH and being granted funding for support to find investment was a big game changer for us. From there, we were able to secure soft funding for bigger projects as well as learn how to think in a rather complex environment.
From the two projects that we’ve been granted funding for we have made significant progress in both technology and market outreach. We feel that 2025 will be a great year for us with many customer projects in sight, and it would not have been possible without the support of Aero EDIH!”, says Carl Wikström, CEO, Synclair Vision AB
About Synclair Vision
Synclair Vision AB, a young university spin-off and an innovator in surveillance technology, specialises in advanced drone-based camera systems that integrate cutting-edge optics, AI analysis, and depth perception. The technology provides comprehensive solutions for airborne surveillance and enhanced situational awareness in both defence and civilian sectors.
The Company’s Challenges
Synclair Vision faced a significant challenge in commercialising its AI-driven wide-angle camera system. This technology, which combines advanced optics, virtual stabilisation, and real-time AI analysis, has generated significant interest from drone manufacturers and users. However, the high development costs and technical challenges necessitated the creation of a demonstration platform to showcase the technology’s potential and validate its effectiveness in real-world applications.
Support to Find Investments
To provide a brief background on Aero EDIH’s service package for investment support, it is focused on driving innovation by offering financial support and resources. We assist companies in the process of securing external funding, whether it involves private investors, investor networks, or public sources. Raising capital is often crucial for building a successful business in our industry.
Aero EDIH’s network includes local, regional, and international investors, with access to pitch events where companies can present their ideas and connect with potential investors. Additionally, we organise individual meetings with investors and provide support in preparing presentations or pitches to ensure companies are ready to attract investment.
Tailored Investment Driving Growth and Digital Transformation
Aero EDIH provided Synclair Vision with comprehensive support to address their digital transformation needs and secure the necessary investment for their innovative project.
The support included investment preparation, where Aero EDIH collaborated with Synclair Vision to develop a compelling investment proposal. This proposal highlighted the technical strengths and market potential of their AI-driven camera system, which eliminates the need for a physical gimbal, enabling lighter systems and more agile operations.
The public investment justification was based on the solution’s innovative value. Although the system was in an early stage of development, it demonstrated significant potential to deliver a transformative solution for future stakeholders and investors. Public funding was therefore crucial to bridging the gap between the early concept and market readiness, ensuring that Synclair Vision could achieve critical milestones and build credibility.
As a young company, Synclair Vision also faced challenges in accessing private funding. The public funding support allowed them to overcome these obstacles and laid the groundwork for attracting additional private investment. This strategic intervention not only accelerated the development of the technology but also strengthened the company’s position in a highly competitive market.
By aligning the investment with both technical development goals and market readiness requirements, Aero EDIH ensured that Synclair Vision’s solution could address the demands of digital transformation while creating opportunities for future growth and expansion.
Results and Benefits
Synclair Vision successfully secured funding from Vinnova, which was crucial for developing a demonstration platform for their AI-based computer vision system. The funding enabled the company to further develop its core technology and showcase the potential of their edge AI solution for real-time processing in aviation applications.
The project helped the company achieve several key milestones:
- Prototype Development: Vinnova’s contribution enabled the development of a fully functional prototype, serving as a proof-of-concept for potential investors and customers.
- Enhanced Competitiveness: With support from Aero EDIH and Vinnova, Synclair Vision now holds a competitive edge in the aviation sector, positioning itself as a leading player in cutting-edge AI for real-time applications.
- Investor Confidence: By demonstrating a functional platform, Synclair Vision gained increased visibility among potential investors and secured future funding rounds to scale its technology.
- Job Creation: The funding accelerated the company’s growth, allowing them to expand their team of engineers and AI specialists.
Lessons Learned – Dos and Don’ts:
Do’s:
- Engage early with investors to ensure project goals are clearly aligned with available funding opportunities. Early engagement helps tailor proposals to meet investor expectations, increasing the likelihood of securing support.
- Leverage resources from EDIH for comprehensive investment preparation and networking. The expertise and connections available can be utilised to refine investment strategies, enhance proposals, and build valuable industry relationships.
- Maintain transparency and regular communication with stakeholders. Being transparent about progress and challenges builds trust, strengthens relationships, and keeps everyone informed and engaged throughout the project lifecycle.
Don’t:
- Underestimate the importance of detailed financial planning and documentation. Poor financial planning can undermine investor confidence and jeopardise the project’s success. Financial details must be meticulously prepared and clearly presented.
- Overlook the potential of collaborative networks for securing funding. Building and nurturing relationships within industry networks can provide invaluable support, open doors to additional resources, and enhance the project’s credibility and appeal to investors.
Perceived Social and Economic Impact
The successful implementation of the AI-driven camera system is expected to generate significant social and economic benefits:
- Enhanced Public Safety: The advanced surveillance capabilities of the AI-driven camera system will significantly improve public safety. By offering more efficient monitoring of public spaces and environmental conditions, the technology contributes to safer communities and more responsive crisis management systems.
- Economic Growth: By strengthening Synclair Vision’s competitive edge, the technology promotes the creation of new jobs and stimulates economic activity within the surveillance technology sector. This growth not only bolsters the company’s market position but also contributes to a thriving and innovative industry.
- Sustainability Goals: The AI-driven camera system supports global sustainability goals by optimising resource efficiency and reducing environmental impact. Its implementation advances efforts to minimise ecological footprints while encouraging sustainable practices across various applications.
Measurable Data:
Synclair has been able to secure funds to provide for the working capital for the further development of the product.
For a first project, Synclair Vision was able to secure 413 500 SEK (~36 000€) in soft funding.
In a second project, another 1 300 000 SEK (~113 000€) in soft funding was granted.
Synclair Vision’s – DMA, Results and Scores
To help you understand the meaning of Digital Maturity Assessment (DMA), including its various phases, scoring system, and results, we recommend reading this brief information text – ”What is Digital Maturity Assessment?”
Phase 0:
The total score Synclair Vision received in the Digital Maturity Assessment was 39%.
The organisation had an average level of digital maturity but could improve further through investments in technology and skills. Although standard technologies were utilised, the introduction of advanced tools such as ERP, AI, and e-commerce would deliver greater benefits.
The staff had average digital skills, but advancing the transformation required structured training and support from IT specialists. Management and employees were encouraged to embrace new digital solutions.
A comprehensive data strategy would enhance analysis and decision-making, while the adoption of ICT (information and communication technology) could also help reduce the organisation’s environmental impact. By improving its digital maturity, the organisation could increase its competitiveness, match more advanced competitors, and gain an edge over less developed players.
Phase 1:
The total score that Synclair Vision achieved in the Digital Maturity Assessment (DMA) was 70%.
The organisation has advanced to a moderately advanced phase of digital transformation and is already benefiting from both common and some advanced technologies. Their current investments cover a wide range of business operations, but there is still room to enhance their readiness to handle more sophisticated solutions, such as artificial intelligence (AI). While they are on the right path towards digital transformation, they could further improve their competitiveness, resilience, and sustainability through more targeted investments in digital technologies and skills.
Data management and security are advanced, but the organisation could further benefit from implementing digital technologies that provide business intelligence and adopting additional ICT tools to enhance performance. Moreover, increased use of environmentally friendly IT products and further digitalisation could significantly strengthen the organisation’s market position and reduce its environmental footprint.
Synclair Vision’s staff possesses a high level of digital competence, but to advance in their digital transformation, a structured training programme is needed for both general staff and IT specialists. All levels of management and employees should be encouraged to fully engage in and support the adoption of advanced digital solutions without fear of the changes these may bring.
Phase 2:
This phase has not yet been implemented, as it requires two years to have passed since Phase 0, and this time period has not yet been reached.
”Synclair Vision is a great example of the creativity and drive that comes out of Linköping University. This young team has quickly turned research into innovation, navigating funding and market challenges with impressive determination. Their AI-driven camera technology has real potential, and I look forward to seeing their progress.”, says Dag Forsén, Support to find investments, Aero EDIH.
