Strategic realignment and restructuring of a French technology start-up
Focus areas: Strategic realignment and restructuring
Company:
- Technology start-up in France
- Sensors/electronics and software, up to 25 employees
Responsibility:
- Part-time interim managing director
Initial situation:
The company had already been in existence for ten years and had developed various sensor prototypes based on surface acoustic wave technology for measuring physical properties and tested their suitability in various applications as proof of concept within the framework of funded projects. To this end, the company had set up a very complex international supply chain with a small internal production facility for the sensors at the heart of the various applications.
So far, however, no sustainable business model has developed from this and the cash burn rate has increased year on year. The company had been owned by a strategic investor from the measurement technology sector for almost five years. The task was to develop a sustainable business model within one to a maximum of two years.
Measures:
- Strategic realignment and focus of R&D and sales activities on temperature monitoring of high-voltage switchgear
- Product development incl. Validation instead of “proof of concepts”
- Reorganization of production and supply chain
Result:
- OEM approval for asset monitoring at two OEMs of high-voltage switchgear, qualification for retrofitting at various switchgear operators in Southeast Asia
- By the end of year 2, sales of more than € 1 million and incoming orders of just under € 2 million had been generated for temperature monitoring solutions for high-voltage switchgear
- Increase in gross margin from 0% to 70%
