Lorenz Technology exits the Hub
This article was first published in October 2019.
This month Lorenz Technology left Odense Robotics StartUp Hub. After 14 months in the robotics incubator at the Danish Technological Institute, the drone company exits the Hub with accelerated company growth, improved productivity, a larger network, new established business contacts and more insights into the latest technologies.
Lorenz Technology develops intelligent drone software for security, safety and surveillance to the commercial market. During their stay at the Odense Robotics StartUp Hub, their focus was to provide a unique solution for security and inspection of airports using autonomous robots and drones to inspect fences around the perimeter. The startup has now left the Hub capable and ready to take on the industry thanks to the Hub functioning as an accelerator programme. Here startups have access to everything from business advice to technical expertise as well as top facilities at the Danish Technological Institute.
“Our company growth has been greatly fast-tracked thanks to Odense Robotics StartUp Hub. The Hub provided us with valuable insights into the industry and has helped us increase our network. We’ve had the chance to work alongside specialists from the Danish Technological Institute and other startup companies to learn from and exchange ideas with. We’ve also gained more exposure thanks to Odense Robotics and UAS Denmark, who became our ambassadors,” says Nicole Sophie Christiansen, Business Development Manager, Lorenz Technology.
Programme optimises production
The startup was selected for the Hub due to its airport security solution that allows drones and robots to perform autonomous fence inspection, which saves resources and streamlines an otherwise time-demanding manual process. Through ‘Digital Omstilling – Innovationssamarbejder’, a programme offered by Business Region Fyn with the assistance of a consultant from Odense Robotics, the company received funds and assistance to develop their Lorenz AI Link and drone software in collaboration with other national companies and universities.
During their time in the Hub, Lorenz Technology also participated in Business Hub Fyn’s programme, Scale-up Denmark Robotics. Here their production strategy and supply chain management were analysed and then optimised with the help of a supply chain consultant from Odense Robotics.
“Due to the support we got via Scale-up Denmark Robotics, we gained a lot of valuable knowledge, which helped improve our production strategy and implement effective supply chain management. We also gained a lot of insight into our funding opportunities thanks to the programme ‘Digital Omstilling’, which made it possible for us to further develop our product – and faster,” says Christiansen.
Benefits of cluster collaboration
Being in the cluster also meant swift assistance when one of their machine processing suppliers backed out of a contract earlier this year. Thanks to the caliber of companies in the cluster, Lorenz Technology did not need to look too hard for a new supplier and Odense Robotics could quickly suggest a replacement, Ny Stenderup Maskinfabrik.
Lorenz has also benefited from playing an active role in the UAS Denmark and Odense Robotic clusters. They participated in UAS Denmark’s Reverse Shark Tank with DFDS, where they gained new insights into the development of their company. DFDS has since become a customer of Lorenz Technology’s as well as a collaboration partner. The two will work together on an EU-funded project with the world’s largest security company, G4S, to implement drones in Denmark, Belgium and the Netherlands to increase security and logistics at harbour terminals.
“We have come a long way with our product, but we will need more time to further develop our software for fence inspection. Fortunately, we have the resources we need right here in the cluster. We look forward to collaborating even more with our cluster partners,” says Christiansen.
The startup have a promising future in store following their exit of the Hub.
“Lorenz Technology exhibits the potential to be a really valuable company in the near future. They operate in multiple market segments – even more now than when they joined the Hub. They have developed new applications and products and unlocked new customer relationships. Through Odense Robotics StartUp Hub, they have had an environment that helped their access to soft money, investor capital and given them the opportunity to really accelerate their activities, so much so that they have really outgrown our offering to them,” says Ernest Fuller, Business Development Manager, Startups, Odense Robotics.