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Formerol Ltd

Sector:           Creative Industries
Employees:      2 + 4 consultants/associates
Location:         London

The big idea :-  Personalising the tools and products you use everyday.

What they do

Formerol Ltd. was founded by Jane ni Dhulchaointigh in 2004 to exploit a unique, though quite accidental, discovery in the field of polymer science. Whilst researching for a post-graduate masters in Design in 2003 at The Royal College of Art (RCA), Jane, whose previous passion was scuplting, discovered a material which satisfied her keen interest in materials, new aesthetics and new design strategies.

The material which she called and registered as Formerol^TM was a rubber-like material which can be shaped by hand, simply by applying pressure to it. It then cures to a tough though soft-touch material with similar characteristics to conventional soft-touch mouldings.

The challenge

… was to find the right partners to trial the materials, and pinpoint the benefits that Formerol^TM could bring to consumers - partners such as the manufacturers of tools and equipment. Jane realised quickly that one of the most exciting possibilities of the materials was that parts could be designed into products that could be customised by the end user. As a new concept, this was a challenge to communicate in the beginning, but she says people began to catch on to the potential almost immediately - as soon as she was able to explain one application, people would identify others themselves. She says that this versatility is what has been the biggest challenge in defining market opportunities, but it is also what makes the business so exciting.

The solution

The Royal College provided one answer, through its Innovation Centre. It was there that Jane met an experienced businessman - Roger Ashby, with whom she subsequently set up a business and put together a team that would provide a wide range of expertise and knowledge, not only on technical and material science matters but also on marketing to diverse sectors and companies.

As a result, rather than rushing into a single partnership that might serve to launch the product but at the same time alert possible competitors to its possibilities, Jane and her team have invested lots of energy and precious resources fully evaluating the wide range of applications and market opportunities that Formerol^TM has, working closely with potential customers to evaluate and trial the materials for applications in several varied markets.

She has also protected her invention with patents and a registered trademark.

At present, the company is developing its first products with a number of customers in different market sectors - a sound strategy to minimise the exposure to any one sector.

As Jane says, 'A global manufacturer of premium tools for the professional trade is one of our first partners. They recognise that the unique properties of Formerol^TM will withstand the harsh conditions that these tools are used in and help to reduce the high incidences of discomfort that manual craft-users are prone to. A number of products are in design, development and trial stages and we're working towards launcing the first of these in 2007.'

Issues arising

At the outset, Jane was determined to remain independent. She was also aware of the dangers of spending too much time on research and design. Roger has helped drive early discoveries into market and user trials by negotiating product development contracts that bring cash flow into the company.

Together they are now exploring various business models that allow creativity to flourish without the problems of manufacturing, which is being outsourced.

As Jane says, ' Staying true to our philosophy of combining creativity and functionality will allow us to develop customisation for the task, or for fun - mass production with infinite variety. Large companies are very open to the lateral thinking we can bring to their products. Our website is particularly important in sparking ideas and connections for possible development.'

The outcome

There are exclusive product development contracts signed with partners in several markets and new markets continue to be explored. Enquiries come from a wide range of potential customers. One large contract came as a result of an executive reading about Formerol^TM 
in a British Airways in-flight magazine!

Looking to the future, Jane says,' What if the shape of every pen or tool could be formed by its user, so that it's just perfect for them? To that end, we're working to form partnerships with leading brands and smaller design-led companies across a large number of indutries. Together we will develop highly innovative and novel products that customers will love.'

What could you do?

Jane is inviting companies and individuals who might have ideas on how Formerol^TM could help solve problems with their products and designers in other fields who are interested in working with Formerol^TM on new projects to get in touch with her through the website. Is this an opportunity for you?

Innovation Exchange

Formerol website: http://www.formerol.com

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