Over the last 24 months, lead by Senior Consultant Lachlan Maclean, we have been helping IntaCept Limited through the commercialisation of a new electrical safety product, the IntaCept tag.
The IntaCept tag is a digital testing and tagging device that ensures compliance and electrical safety for electrical equipment in use in hostile work environments such as the commercial construction, mining, heavy industry and heavy maintenance sectors of the economy. Organisations working in this sector are required by Work Health and Safety Regulations to regularly test electrical equipment and maintain accurate asset records and testing data. The IntaCept tag streamlines this whole process resulting in a fully compliant system with AS/NZ 3760 the “In-service inspection and testing of electrical equipment”. The tag incorporates modern technologies such as near field communications, cloud database and an App for Android and Apple smartphones.
In 2012, IntaCept Pty Ltd won a Commercialisation Grant from AusIndustry that assisted us in developing business and marketing plans, a product requirements specification, and the development of a publicly listed company structure for listing with the Australian Small Scale Offerings Board (ASSOB). The outcome this project was to enable the company to raise funds via an Offer Document and as a small pubic company so that a working prototype could be made, pre-production documentation developed, and industry and market related strategic partnerships fostered.
To date the company has now raised $325,000.00 since listing in March 2014. A portion of these funds used has now resulted in a number of working prototypes being made, and pre-production documentation being finalised. We are now entering another stage in our commercialisation plans and are now seeking further funding to further develop our market related industry partnerships, leading to production and sales. The company’s planned exit strategy is a Trade Sale within five years of listing with the ASSOB.
Further work is continuing and if you are interested in finding out more about the company’s progress, click here to see their latest news and get access to their offer document.