Revolutionary with laser light and SME financing: IRsweep and Advanon win 130.000 Swiss francs each at the Venture Kick final
16.12.2015
Environmental pollution, industrial accidents or terror attacks: people and the environment can be endangered from a wide range of chemical substances. The ETH spin-off IRsweep developed laser-based analysis methods to identify dangerous substances in liquids and gases quickly and efficiently. On the other hand, the Zurich based startup Advanon provides SMEs, which require short-term liquidity, with an innovative online factoring solution. Both startups convinced the distinguished jury at the Venture Kick final and can look forward to a start capital of 130.000 Swiss francs each.
1.png) The team of IRsweep
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 The team of Advanon
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With a sales volume of 250 billion Euros, Photonics has become one of the most important innovation driver for the global economy. The spectroscopy, a partial area of photonics, analyzes materials with the help of light and thereby qualifies for a very fast determination of dangerous substances in an outstanding manner.
Laser light makes substances in gases and liquids visible
The ETH spin-off IRsweep develops unique spectroscopic sensors that efficiently examine the composition of gaseous and liquid substances. Compared to current methods, the technology enables a faster, more reliable and more versatile analysis of such substances. The innovation lies in the use of multi-colored and particularly precise lasers. The system is interesting for many applications in food, oil and pharmaceutical industries as well as for security solutions. "We have brought our first products on the market in 2015, the so-called "IRcell”. Thanks to the Venture Kick prize, we are now able to push the commercialization of our spectroscopy system forward", says Dr. Markus Geiser, co-founder of IRsweep.
SMEs get fast cash, and investors attractive investment opportunities
For many SMEs, the short-term liquidity is a problem and in these situations a bank loan is not always the best choice. Alternative forms of financing can be much quicker and less complicated. Advanon solves this problem with a new form of factoring. Since July 2015, the Zurich based startup connects investors directly with SMEs on its online platform. The objective is to provide SMEs with a 24 hours access to cash by the pre-financing of outstanding invoices and to offer investors an attractive investment opportunity.
Europe's leading financial center is standing
With its innovative business model, Advanon was able to complete a first financing round and partnerships with several well-known companies. Furthermore, in August 2015, the British Embassy became aware of the new online platform and suggested to Advanon founders to relocate their company’s headquarters to London: "Venture Kick has not only helped us to expand our network and to bring well-known investors on board, we could also benefit from valuable advice. The Venture Kick experts showed us our weaknesses and helped us with their solutions. Without the program, we would not be where we are today," remarks Phil Lojacono, CEO of Advanon, enthusiastically.