New company addresses impact of manufacturing
An
Icona Solutions product story
Edited by the Engineeringtalk editorial team
Feb 18, 2003
Icona Solutions is a new company backed by a GBP 300,000 investment from the White Rose Technology Seedcorn Fund.
Icona Solutions is a new company backed by a GBP 300,000 investment from the White Rose Technology Seedcorn Fund (WRTSF), the venture capital fund owned by the Universities of Leeds, Sheffield and York.
Icona will market innovative software, developed within the Informatics Institute at the University of Leeds, to visualise the impact of manufacturing variation on product quality.
For the first time, engineers will be able to review the effects of manufacturing variation on the appearance of a vehicle/products using Icona software.
For example in the automotive industry, Icona 3D visualisation products will contribute to the world-wide trend to improve quality and reduce time to market for new vehicles through the increased use of computer-based virtual prototypes, rather than life sized real models.
The products are being targeted at both end-users in the automotive industry and major software vendors.
They will be marketed for use in conjunction with industry standard computer-aided design (CAD) systems, providing greatly enhanced capabilities.
Collaboration with major solutions providers such as IBM and SGI, will enable Icona to rapidly penetrate major manufacturing accounts.
Technical Director of Icona Solutions, Dr John Maxfield, said: "Visualising the effects of manufacturing variation early in the design process will significantly reduce the number of quality problems encountered during the production of new models, leading to enormous savings in both time and money for manufacturers".
Icona will combine their industry leading software products with consultancy services, customer support and training to deliver a comprehensive package in the field of visualising aesthetic quality.
Executive Chairman of Icona Solutions, Dr David Belford, said: "This is an exciting opportunity: unlike many university spinouts, Icona is already well advanced in commercialising its technology for which there is a real demand in the automotive sector".
The GBP 9 million White Rose Technology Seedcorn Fund invests in commercial opportunities arising from research at the Universities of Leeds, Sheffield and York and is administered by Aberdeen Murray Johnson Private Equity.
Icona Solutions is the 16th company to secure venture capital from the fund.
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