Development Bank Wales invests in Cardiff Met spinout company
A spinout company from Cardiff Metropolitan University has secured investment from Development Bank Wales to build a powerful new form of imaging technology that could revolutionise the way people view and make images.
The partnership between Fovo Technology Ltd. (Fovotec) and Development Bank Wales - a major provider of investment funds and commercialisation expertise – will enable the development of Dynamic Projection.
Based on research from artists and scientists into how human vision works, ‘Dynamic Projection’ allows technology to generate images that are closer to how humans ‘see’.
Fovotec, which was founded in 2017 by interdisciplinary academics at Cardiff Met, has so far secured 15 international patents to protect its novel process, with several more pending.
The range of potential applications is vast and includes computer games, smartphone cameras, cinematography, medical imaging, security, defence and communications.
Dr Robert Pepperell, Co-Founder of Fovotec and Professor of Fine Art at Cardiff Metropolitan University, said: “It’s taken many years to solve the problem of how to make wide angle images look natural in imaging media.
“This new investment from Development Bank Wales creates an incredibly exciting opportunity to deliver Fovotec’s solution to leading technology companies around the world. We do not think it will be long before we see Fovotec’s Dynamic Projection appearing in computer games titles and other consumer technologies.”
Development Bank Wales and Fovotec are now exploring opportunities with major technology companies to integrate Fovotec’s Dynamic Projection tools into leading brand products.
Chairman of Fovotec, Frank Holmes, said: “We have witnessed the evolution of this patented invention from its early conception and are hugely excited about its extensive commercialisation prospects, some of which are imminent.
” Professor Sheldon Hanton, Pro Vice-Chancellor for Research and Innovation at Cardiff Metropolitan University, added: “Cardiff Met is very much at the forefront of imaging innovation globally and this significant investment from Development Bank Wales will enable our academics to continue to develop this groundbreaking technology.”
Adam Ramzaan, Investment Executive at the Development Bank of Wales said: "We’re thrilled to be supporting Fovotec at this exciting stage of their journey. Their pioneering work in human-centred imaging and real-time rendering technology has the potential to transform industries. This investment reflects our strong belief in the team’s vision, technical excellence, and commercial potential."