Case Study: shapespace

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Quoting Andrew Sherlock

Shapespace

ShapeSpace Ltd is an Edinburgh based software company, originally formed as a spinout from the University of Edinburgh. It was set up to commercialise techniques for indexing, searching and browsing for CAD models by their geometry.
Company formation (spinout) and patent application early 2007
Won SMART award in 2007
Won Best Exhibitor Prize at EPIS Exhibition 2007
Angel funded since 2007, University of Edinburgh is Shareholder

Andrew Sherlock

Andrew Sherlock is a lecturer turned entrepreneur who won the RSE Fellowship in 2005. He quotes his inspiration as being: "There must be a better way to search for CAD models..." Andrew is happy to answer questions and give advice regarding the RSE Fellowship, SMART awards and how to spin out a company from university; just contact him

Tips and Experiences

Extended market research on large company customers in early stages failed as no contracts could be closed at that time -> Focus on quick development first so you have something to offer potential customers and sell to small customers first.
RSE Fellowship:
- RSE mentors are very helpful to open doors and getting business contacts
- The RSE Fellow network provides great help and encouragement – you meet similar enthusiastic people facing similar challenges
- Getting a Fellowship boosts credibility of the startup
Credibility is very important in the early stages of a company: prove and establish yourself first – then your company's shares are worth more, the risk for investment is lower and you have better chances to get investment
Managing staff is a challenge; you have to not only make sure wages can be paid but also have to "feed" your staff enough work