Q & A : Radiation Watch
Isle of Wight Enterprise Hub company Radiation Watch Limited (RWL) develops technologies for the detection and measurement of radiation using a unique approach.
Hub puts Mike Anderson, Business Development Director for RWL, on the spot.
So what, exactly, does Radiationwatch do?
Our Direct Dose Detection™ (D3™) technology and its related SmartWatch™ software applications address some urgent and unmet needs, in a number of major markets, including Homeland Security; Health Physics; Instrumentation; and Environmental Monitoring.
How is what you do different from your competitors?
D3™’s competitive advantage is that it’s more sophisticated at isotopic identification, more robust in the field, and cheaper to produce.
Is anyone likely to buy it though?
Yes. The market opportunity for RWL is substantial. In the Homeland Security (HLS) market alone, of the $35 billion to be spent in the USA in 2007, more than $1 billion is to be invested in delivering new and improved tools to First Responders and those responsible for protection at Borders, Points of Entry and across the Transportation Network; communities which are the principle design targets for the early implementations of D3™. The HLS market is projected to grow more than 25% over the next five years (source: HSRC, 2007) – and this procurement spending programme is to be further enhanced by additional US R&D investment initiatives.
The Federal Government, having recognised the inability of the commercial market to deliver effective solutions to date against the current Threat, have recently committed a further $545 million in 2007, and more in the years that follow, to help accelerate the development of solutions within the commercial market that will meet the need. RWL intends to benefit directly from these Federal investments.
So what’s the history?
RWL was formed in 2003 with the aim of establishing D3™ as a dominant technology within the radiation detection market sector.
The Company has so far successfully raised significant sums through a small number of Venture Capital (VC) investors and continues to attract the attention of a number of major VC houses on both sides of the Atlantic for possible future investment needs.
To date the company has completed both the Research and the Development phases for its first generation of products, and established the viability of its patented technology portfolio through evaluation by US Federal Institutions and principle industry players. Furthermore, as part of RWL’s Original Equipment Manufacturer (OEM) business model, it has already reached the revenue stage due to first sales to OEM customers. In addition, its products have successfully passed through the evaluation stage with a further group of OEMs who, combined with the initial customers, are expected to generate a potential annualised product sales pipeline of over £25 million p.a. for the business within the next two to three years.
RWL is led by an internationally experienced Executive Management team who have worked together since 2000. With strong high-tech start-up credentials, backed by solid Blue Chip beginnings in companies such as Hewlett-Packard, IBM, Nortel and Mitsubishi, the managers have a strong track record of success and long standing relationships with many of the principle players who dominate these markets.
Author: Enterprise Hub Director - Ken Dueck
Created Date: 18-12-2007
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