EEDA proof of concept funding paves way for revolutionary new uses in waterproof outerwear
As the result of an EEDA Proof of Concept fund, Sealskinz has grown beyond recognition to become the producers of the world's only waterproof socks you can wear as normal socks.
In 1999 the business that would become Sealskinz was a small division within a larger chemical company, which had just filed a patent an offshoot of its main membrane technology, aimed at the outdoor market . Its now MD, then part of the sales team, Andrew Dahl, saw the potential for the product, and in 2005 began talks about with the owners about a management buyout. Now, in 2009 he is a long way on from that humble start.
"We have had to move to a much larger new factory in Kings Lynn with 34,000 square feet, and have 42 people working for us full time. Sales are up 50 per cent on last year. We now have 15-20 retailers selling our product in the UK, and Scottish FA and West Bromwich Albion FA are an account. While our focus is on maximising our potential in the UK market, we are starting to plan a move into Europe and elsewhere. Our success to date has been in no small part thanks to the Proof of Concept grant we got from EEDA."
EEDA's 'proof of concept' fund is designed to assist organisations undertake a market assessment to test the commercial viability of innovative business ideas.
The grant was suggested to Andrew in 2006 by American, Michael Shuster, who had become involved with the company by chance after trying to find a supplier of waterproof football socks for the youth football team he was coaching. While he could not find such a product, his search had revealed Sealskinz as a potential manufacturer. As a result, Michael had approached Andrew with a proposition to research the market for a bespoke football sock.
Andrew continues, "So I sent him some socks to test with his team and although they worked, they needed to be re-designed to be made suitable for football to take in to account the boots and shin pads. The results were very promising, but we needed to further prove the concept.
Andrew explains the role of the Proof of Concept funding, "The £8,000 grant we were offered by EEDA enabled us to conduct a proper research study. Initially we had intended to do a paper based study. The investment allowed us to actually create sample socks and send them to both professional football teams and 'little Johnny playing in the park'. From this, we were able to gauge market opinion and work out a pricing structure for the different markets.
"At the end of the process, we also in a position to apply for and get a further patent for the 'Sealskinz TeamSock', a 'waterproof breathable football sock'. The results were also sufficiently encouraging for investment. As a result, the management buy out was completed in August 2007."
Since then, Sealskinz has had growing success with its football sock. It was exhibited at the May 2008 'Grass Roots Football Show' and sold £15,000 worth of goods.
Andrew explains, "I have never been in a situation where customers and potential customers have been so enthused about a product. This response certainly vindicated our belief that our solution is not just for football it can be applied to a multitude of sports. In fact, this was something EEDA also recommended."
The company is has gone on to introduce a whole range of other products including gloves and hats, for a range of other sports including cycling, horse riding and shooting.
Andrew concludes: "There is a preconception that government-funded initiatives are complicated, but our experience with EEDA's 'proof of concept' process proved quite the opposite. "Everything about the grant funding was simple and straight forward useful. Its structured approach helped us think through the issues logically and made us think about areas we had not even considered. We would never have been able to undertake this development without it."