Cambridge, Mass, December 5, 2005 – The MIT Entrepreneurship Center, an interdisciplinary center that nurtures new ideas, novel approaches, and advanced technologies, has teamed up with iMotions-Emotion Technology A/S, the first-ever Scandinavian high-tech startup company approved to participate in the MIT Entrepreneurship Lab program.
“iMotions-Emotion Technology and its sharp, ambitious management team illustrate the growing trend of companies being truly ‘Born to go global,’” says Ken Morse, a Senior Lecturer at the MIT Sloan School of Management and Managing Director of the MIT Entrepreneurship Center.
Although conceived in Denmark, iMotions has focused on building a global presence since its conception. The lack of venture capital opportunities and a limited market in their home country prompted the young founders to search for funding internationally and, in the process, to craft a global launch plan. iMotions is currently closing its second round of funding and has filed a patent in the U.S.A.
A team of MIT management and engineering students is working with the company to explore where they have their strongest value proposition and how to best commercialize the technology. This hands-on experience, in turn, will help guide the students when shaping global business plans for their own high-tech startups after graduation. iMotions has visited the MIT Entrepreneurship lab teams several times during the semester to work with the students. The students are slated to visit the company’s headquarters in December 2005.
iMotions – Emotion Technology has developed emotion-sensitive software tools based on highly sophisticated face analysis hardware, made possible by the latest research in neuroscience and cognitive psychology. These software tools, says co-founder and CEO Peter Hartzbech, will help iMotions clients create marketing campaigns and products with greater impact, greater market share, and increased customer loyalty. For more on iMotions, please visit http://www.imotions.dk/.
“We plan to use the incredible network of the MIT Entrepreneurship Center to build a strong bridgehead directly into the US market, and start our first subsidiary outside Scandinavia in Cambridge” says Peter Hartzbech, CEO and co-founder of iMotions. “Through our pioneering efforts with the MIT Entrepreneurship Center, our team also hopes to inspire other entrepreneurs in Denmark and throughout Scandinavia.”