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Thalmic Lab

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Autor:   •  August 6, 2017  •  Research Paper  •  832 Words (4 Pages)  •  169 Views

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Thalmic Lab is a North American company with main office in Waterloo. Stephen Lake, Matthew Bailey and Aaron Grant found this company in 2012. They graduated from the University of Waterloo's Mechatronics engineering program (Crunchbasecom, 2017). Their team consists of scientists, engineers and designers that build the future of wearable devices. Every year revenue of this company is from $1 to $5 million. According to CruncBase, “Thalmic Lab focuses on the development of wearable technology solutions and devices that are able to interact with computers”. Thalmic Labs has more than 18 investors, and companies` goods are sold all over the world (around 130 different countries, including Germany, Great Britain, Australia, China, Russia, and France) (Turim-Nygren, 2013).

Thalmic Lab is trying to find new ways to interact with digital devices. The company`s goal is to integrate people and technology. Their first product is the Myo armband.

This is a new technology using which people can simply on some distance control computers, phones and all digital technologies. The company Thalmic Lab decided to investigate the possibility of controlling through gestures – in fact, they took the idea of the same Kinect, but turned it backwards. The Kinect has a camera that tracks your movements, while the Myo wristband sensors capture how reduced your muscles. Depending on how reduced muscle, bracelet understand what movement you do - clench a fist or straighten all the fingers, bend the hand to pull or push (Myocom, 2013-2016).

Thalmic Lab has attracted investment from large players such as Intel Capital. In total, the company invested about $15 million. And it is only when a company has an early prototype and vague prospects of sales. Investors invest their money in the future technology, which promises to be a discovery. Thalmic Lab, in 2016, has received an investment of $120 million from Amazon and Intel, and in the near future will show to the world a new technology (Vynck, 2016). Nowadays, the Thalmic Labs team has more than a hundred employees and it is believed that after receipt of the company's investment will bring his research to a new level that will result a significant increase a number of employees. According to InfinityLeap (2016), “Thalmic has great plans for heading towards bringing new innovations in the field of wearable technology for which it is raising funds as well as hiring people to work in the same direction”. Moreover, in 2016 Canadian company Thalmic Labs has patented a new wearable device in the form of glasses that include a scanning laser projector, holographic combiner and sensor control flashing placed between the glasses.

Thalmic Lab is a company with the Growth Potential type of Entrepreneurs because this company works with software development and company built on a technical or digital idea. Moreover, this company is Creative Entrepreneur because Thalmic Labs brought ‘revolution’ into the digital devices. Innovation was created on the technology market. Furthermore, was created a new product, process and method of production. Economic stimulants are the main factors for entrepreneurial activities. In the case of this company, it has such economic incentives as investment and marketing opportunities, new technologies, etc. Thalmic Lab, as I said earlier, has attracted large investment, and create such technology that still had not seen the market. Relative to social theory, entrepreneurship is to stimulate in social culture, influence the behaviour of individuals. The market was in need of some new


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