Some people have a good idea, launch a company – and then look for money.
Thomas Kirchner and Paul Günther did it the other way round.
A brainwave won them $150,000 in a competition run by chip company Intel. “So we had to set up a firm for them to transfer the money to,” said Mr. Kirchner a year and a half later.
They called their new company ProGlove, initially consisting of four people, developing wearables for industry.
The start-up entrepreneurs fitted a working glove with sensors. It means production workers can scan components with a single thumb control.
It cut the time they need to check if they have taken the right screw off the shelf and fitted it in the right place. Up to now they needed to use a hand scanner, which only takes a few seconds each time – but over the course of a working day, takes up valuable man hours.