LONDON, England – February 24, 2016 – Multi-award-winning technology company Eyetease, famed for bringing digital rooftop advertising to London taxis, has today announced the launch of their London-based, Research and Development focused innovation lab, to coincide with their 6th birthday.
Eyetease have created the facility in direct response to what they view as the lack of R&D in London, the STEM skills gap crisis, and the delicate state of UK manufacturing.
The technology company is currently developing their state-of-the-art 2,500 square foot facility within close proximity to Tech City, and has recently begun hiring engineers. The multimillion dollar company has invested a six figure sum into the dedicated R&D facility, with a view to aggressively accelerate New Product Development. Within this new facility, Eyetease has set ambitious targets to develop at least one disruptive product every year.
Richard Corbett, Eyetease founder and CEO, commented, “Entrepreneurs today are encouraged to develop more software products and consumer apps, because of its infinite scalability. This market is now overly saturated and difficult for small businesses to make an impact. When I launched Eyetease, I was repeatedly told that hardware innovation is too difficult, too costly, and better suited to the Far East. Against all odds, Eyetease was able to disrupt an uncompetitive and unsaturated market with two innovative B2B solutions.” Corbett goes on to say, “My vision is to grow the business to $100 million turnover within 5 years. In order to do this, we must diversify and invest today in building our engineering capabilities at our new London site.”
Robert Drake, Head of Engineering at Eyetease, will be heading up the innovation hub’s team of STEM talent. Drake stated, “We were surprised by the limited pool of hardware engineers in London – and the lack of female engineers is, as always, very disappointing.” Currently, Eyetease is proud to employ an equal ratio of women to men. Drake goes on to say, “We are developing incredible, life-changing technology…but we require a team of diverse engineering talent to make this happen. We are committed to bridge this gap and find the best engineers to create world-class products, designed and made in Great Britain.”
Eyetease will be connecting with institutions from schools to multinationals to achieve their goal of developing a world-class innovation hub. The company has recently secured partnerships with companies including Ogilvy London Labs, and London and Partners.
Speaking on the partnership, Director of Innovative Solutions at Ogilvy, Nicole Yershon said, “Ogilvy Labs have a habit of spotting innovative companies at the very start of their journey – Eyetease were one of those start-ups some 5 years ago. We have watched them grow within the digital-out-of-home market place, and still continue to push the boundaries with their new products, WiFi and communication solutions. Ogilvy Labs will continue to be that place for start-ups to go to – covering all disciplines and technology across a global market – to introduce to our brands and agency employees.”
Eyetease’s partnership with London and Partners comes as part of the Mayor of London, Boris Johnson’s International Business Programme. It is the first programme of its kind, using peer-to-peer mentoring and private sector backing, to help London companies to scale up and ‘go global’. The Mayor of London, Boris Johnson MP, said: “London has a strong heritage as an international trading city and our position at the centre of the business world means the city offers the perfect springboard for companies looking to expand internationally. London’s businesses and entrepreneurs continue to be at the forefront of innovation and creativity.”
Sarah French, Head of the Mayor’s International Business Programme, agreed “We’re very excited to see Eyetease join the Mayor’s International Business Programme. London is a leading hub for adtech and we look forward to supporting Eyetease as they take their products and services overseas.”
Eyetease has demonstrated that a British start-up can create world-class disruptive hardware. On the advent of their 6th birthday, bootstrapped start-up Eyetease has generated in excess of $4 million in sales in the UK. With a new R&D facility and the support of global brands, Eyetease is set for aggressive international expansion.
Name: Sasha Olshanetsky
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