2008 – 2010
Several years ago Sigvald Harryson, then management consultant and university professor teaching entrepreneurship and innovation at three universities in Sweden and Denmark, started exploring the concept of decentralized wind energy production. Being a passionate sailor, he discovered that a small 400-watt wind turbine was able to supply a modern, well-equipped 45-foot sailing yacht with all the energy it needs. Since year 2000, he has had solar PV on his sailboat and it was not enough to secure independence from the shore power. The investment in a small wind turbine for the new boat “Blåöga” in 2008 indeed inspired the birth of InnoVenum. If the turbine adds so much power to a boat, then, why not have one for a household – enabling more sustainable living? Wouldn’t it be beneficial for our Planet if we all had the means to harvest green energy that is so generously given to us by Mother Earth? In a truly entrepreneurial spirit, he researched the international business environment and industry specifics, utilised his vast network of colleagues, friends and PhD/master-students to generate ideas and staff the new venture. After two years of business intelligence activities focused on market and consumer needs, product performance and business model innovation, it was time to build a real company!
InnoVentum was established on the 5th of May 2010 (5.5.2010) and this date would have appealed to Mademoiselle Chanel a great deal: she considered number 5 to be her lucky number. Still today, the Chanel house preserves the tradition of presenting dress collections on the fifth of May every year. You can read more about it here.
Shaping the Company
2010 – 2011
During 2010 – early 2011 a number of collaborative university competitions took place resulting in a range of innovative product concepts, including the Dali wooden tower and a ducted turbine. InnoVentum received first investments and support from a distinguished team that took the lead as investors and advisors at a fairly modest company evaluation, mainly based on the initial IP. The investment supported our first patent, trademark and design applications. The first full-scale installations were completed at the beginning of 2011 after the extensive full-scale testing at the Lund University premises. We enjoyed considerable media attention with articles in Ölandsbladet, Ölands Journalen, BLT Sydöstran, Innovation in Mind, Sydsvenskan, Skånskan, local news on TV4.
Wooden Tower Design Release at the Turning Torso
The Wooden Tower Design Release was the very first event organised by InnoVentum on April 29-30, 2011. Co-hosted by Tesla Motors Scandinavia and Estrima representative in Sweden, the event was a great success. Numerous innovative designs of wooden towers were presented and test-drives of the two wildest extremes in electric cars: Tesla Roadster and Estrima Biro were offered. Photo album of the event.
InnoVentum Goes International: ICDuBo in Rotterdam (Holland)
Our turbo Beetle solution was installed in Rotterdam on site of the largest permanent eco-exhibition ICDuBo. You can read a related article here. This installation also strengthened the partnership with a Dutch manufacturer of advanced turbines – now owned by a UK based VC. A new set of investors was joining InnoVentum one year after the lead-investors did. In that year, the evaluation of InnoVentum had grown by 50% based on additional IP creation and initial demonstration installations.
First Private Customer
Our first customer, Gunnel Nordqvist, became the pioneer in adding a green piece to the growing puzzle of our installations on the island of Öland. After the initial installation of the Beetle S in November 2011, she received an upgraded turbine and purchased a complimentary solar installation from us to get green power day and night – summer and winter. Local press wrote about Gunnel: Barometern, Ölandsbladet.
From Exploration to Exploitation
2011 – 2012
We expanded our online presence at ArchiExpo, Klimatsmart, Ekoturismföreningen, became members of the Swedish Wind Energy Association, InnoVentum is also listed at the database for wind energy providers SWID. During 2012 we took part in exhibitions such as Hem & Villa in Gothenburg, Sweden and Rencontre de Jardins at the French Riviera, where we made a permanent installation of the Beetle S. InnoVentum enjoyed more media attention in Sweden and France with articles in Sydöstran, Les Nouvelles de Provence, Architecture Bois, ERA, Galore, Ny i Villa, L´Essentiel de la Maison. Further patent applications were made and additional trademarks were registered. InnoVentum’s CEO took part in the ÅF Offshore Race (ex-Gotland Runt). In autumn 2012, a total of six new investors joined us at an evaluation that had doubled since company creation two years earlier.
InnoVentum at the French Riviera
One of the highlights of the year was InnoVentum’s presence at the landscape design fair “Rencontre de Jardins” in September 2012. We made a Beetle S installation at the Côte d’Azur – at the entrance to the beautiful park with some of the olive trees as old as 1000 years, serving as an exclusive venue for the annual event. You can visit the park and see our installation at any time – not only during the fair. You can see pictures and a video from the event here.
Copenhagen Business School Video Assignment
We took part in a Copenhagen Business School course in Entrepreneurship, where a number of talented master students were presenting their vision of our company and products. As a result, several inspirational videos were created. Here is the winning video we very much recommend you watching, and here are all videos from the project. InnoVentum takes part in the CIEL initiative “Green Innovations in Cities” and is featured on the website.
January 2013 – present
With new sales competence on board, InnoVentum made several important installations and acquired many new prospects. A Beetle S was installed at the Blekinge Technical High School during summer months. The installation was performed on the roof of the award-winning wood-panelled building (pictures). Read more about the inauguration of the installation here. Another rooftop installation was performed in Malmö, in one of the most environmentally-friendly city districts in Sweden – Fullriggaren (pictures). A marine version of the Beetle S was installed in Gothenburg, at a picturesque seaside location (pictures). Two Giraffe hybrid systems were installed in Malmö (more details in the section “The Giraffe Makes an Impressive Entrance”). A building permission for the Dalifant was received (more details in the section “Mila Mässan & Customer Events: Dalifant in Focus”). InnoVentum took part in a number of fairs and shows such as Mila Mässan, Mossagårdsfestivalen, Sustainable Energy Week, the company is now listed on the Nordic Cleantech News website. On the IP side, InnoVentum pursued more design and trademark registrations for our products. We are working on the international expansion opportunities with focus on Japan, European markets as well as Kaliningrad in Russia.
InnoVentum Explores Japan
January 2013 – present
The initial exploration of the Japan market was started at the beginning of 2013, with the first visit to Japan taking place in March. With the asset of Japanese competence on board, InnoVentum made considerable achievements: several publications in the globally distributed Japanese magazine Landscape Design (in June and August 2013), our first distributor on the territory of Japan: Windy Ltd, extensive network of connections and a number of installation prospects.
Mila Mässan & Customer Events: Dalifant in Focus
InnoVentum participated in a fair with a very different profile: the agricultural event for farmers called Mila Mässan. Our largest wind turbine solutions were in focus: the Dalifant and Endurance. We see a lot of potential for these products in Sweden and were happy that our offers triggered a lot of interest at the fair. Our partner Färs och Frosta Sparbanken provides a very attractive financing scheme for these products, which gives our customers a positive cash-flow from day one. Here is a photo report from the fair.
The first building permission for the Dalifant installation was granted to the owners of the Mandelmanns Trädgårdar - dedicated green enthusiasts and successful eco-preneurs. They are very excited about the upcoming installation – and so are we! Check out an article for more details.
InnoVentum also organised a number of meetings with potential customers: “Meet the Dalifant”, you can see a small photo report here.
The Giraffe Makes an Impressive Entrance
The year 2013 is the year of the Giraffe for InnoVentum: it took us less than 6 months to transform concept drawings into full-scale installations in such important locations as the Eurovision Song Contest 2013 venue and Västra Hamnen near the Turning Torso. You may wish to check photos of our installations here (Hyllie) and here (Västra Hamnen). The Giraffe is a hybrid wind-solar power station that can power anything from your e-vehicle to your house – and can even serve as a bus stop in urban environment or as sun protection over the sand box at pre-schools.
Green Vehicle Days
As we grow, we spread the word about sustainability and ecological living more forcefully. In an attempt to draw public attention to green urban mobility in cities, we organised the Green Vehicle Days. The Green Vehicle Days by InnoVentum was one of the largest EV-centred events in the region bringing EV professionals, enthusiasts, decision makers and general public together to build a combined vision of the greener future of urban transportation and infrastructure. We ran an exciting photo contest as part of the Green Vehicle Days. You can read more about the event here.
Three new investors joined us.
Further investments nurture the company
In September 2013 our lead-investors made their second investment in InnoVentum. We also welcomed two new investors with more to follow. The investments secure wider scope of patent protection, the build-up of web-sales capability and working capital for further growth of sales.
Malmö City Prize in Environment and Sustainable Development
In February 2014 InnoVentum was awarded the Malmö City Prize in Environment and Sustainable Development (Malmö stads näringslivspris inom miljö och hållbar utveckling). The jury praised InnoVentum’s innovative and design-driven approach to the creation of eco-solutions for harvesting renewable energy and its successful collaboration with Malmö City in 2013.
Swedish Energy Agency (Energimyndigheten) provided a grant of 1.6 million Swedish crowns to InnoVentum for further development and certification of the Giraffe in Sweden. The grant is part of the Social and Technical Innovation support program.
To be continued…
We hope that the numeric harmony of the company creation date (5.5.2010) will multiply the hard work we put into InnoVentum’s development and will bring a lot of good luck – as it did for Chanel: the French government reports that a bottle of Chanel No. 5 is sold every 30 seconds and generates sales equivalent to $100 million a year. We look forward to the day when our solutions will be sold every 30 seconds and we certainly have the ambition to achieve this in less than 90 years!
We enjoy having Malmö as our base for global expansion, because this is not only the greenest city in Sweden, but also part of the region that attracts the highest degree of greentech investments – see this video.
We look forward to welcome you to join the InnoVentum Family in any of the following five ways:
Join us as InnoVentum Customer
Join us as InnoVentum Ambassador (please contact firstname.lastname@example.org for further details)
Join us as InnoVentum Distributor (please contact email@example.com for further details)
Join us as InnoVentum Investor
Join us on InnoVentum Facebook to follow our progress and get invited to our events.