SenseOne Technologies case study

The Cyprus-based asset management company set up in London with help from London & Partners

Client profile

SenseOne Technologies logo
Company:
SenseOne Technologies
Sector:
Technology
Country:
Cyprus
Website:
www.senseonetech.com
Seed Innovative, a Cyprus-headquartered asset management company specialising in renewables, wanted to expand to a stable and growing market. With London & Partners’ help it set up Sense One Technologies in London and won contracts worth half a million pounds within four months.

London & Partners was like a business angel for us. They asked us if we had any problems and invited us to events all the time. They operated as a free consultant.

Menelaos Ioannidis, Managing Partner, SenseOne Technologies

About SenseOne Technologies

Sense One Technologies monitors assets such as buildings, photovoltaic plants and wind farms in real time, improving efficiency and return on investment and helping resolve operational problems. It is the London arm of Seed Innovative, a Cyprus-headquartered company founded in 2007 and specialising in asset management for the renewables sector.

Business aim

Sense One Technologies wanted to exploit the UK’s growing green energy market and benefit from the country’s economic stability. London offered the perfect route to market, but who could introduce trusted partners and help the company win business?

London & Partners services

  • Introductions to professional advisers: including accountants, bankers and tax specialists
  • Market intelligence: advising on energy sector trends and regulation
  • Networking and new business: introductions to lead generation agencies, chambers of commerce and UK Trade and Investment

Business success in London

Within just four months of opening in the City of London in November 2012, Sense One Technologies secured contracts worth £0.5 million with leading clean energy companies. The business is on track to employ 12 staff in London within three years and is now exploring further expansion into South Africa, Latin America and India.

In their own words

What advice would you give a company trying to expand to London?
“Be very direct. The market works quickly here. You don’t need a long pre-sales period of 6-12 months as in other markets. When people see your solution they will say yes or no and you can move on.”

London & Partners introduces overseas companies to hundreds of vetted professionals every month. Who did they introduce to you?
“They were very friendly and very helpful. They introduced us to accountants, banks and lead generation specialists. They also helped us network with organisations such as the London Chamber of Commerce and BritishAmerican Business.”

Did London’s economic stability influence your decision to expand here?
“We had to move quickly to a stable economic environment. It was the best solution to come here. You also get credibility from being a British company that you don’t have if you are a Greek or Cypriot company.”

What does SenseOne Technologies do?
“We increase the efficiency - and reduce the cost of ownership - of assets such as photovoltaic installations and buildings by monitoring activity and performance. The data we collect, through sensors and smart devices, enables us to identify problems and make operational recommendations in real time.”

The UK’s ‘green’ economy is booming, with ambitious targets and a strong commitment to wind and solar power generation. Did you find this attractive?
“Yes. It’s a very stable environment. The UK has set high targets for energy reduction, efficiency and renewables. This has created new markets and growth. It proves the commitment of the UK Government amid all the uncertainty of the global economy.”

What difference did London & Partners make to your business?
“We really needed someone to take us by the hand and tell us what we needed to do. London & Partners was like a business angel for us. They asked us if we had any problems and invited us to events all the time. They operated as a free consultant.”

What were your major challenges?
“You’re trying to be successful in just a few months on a minimal budget. Target clients are unsure about you. You need contacts. London & Partners helped a lot. They boosted our confidence in our ability to succeed in this market.”

London has more HQs than other European city, offering huge opportunities to grow. Are you going to exploit this?
“We plan to maintain our leading position in the UK and up-sell and cross-sell to other sectors such as retail and buildings. In the future we will look at important emerging markets such as South Africa, Latin America and India.”

London is Europe’s number one business city, voted first for qualified staff and access to markets. Was this a factor?
“For us there was no other option. London is an international city: you can find all the contacts and services you need for international expansion. The renewables sector is booming. It’s easy for us to travel from the southernmost part of Europe to London. And it’s easy to find good people here. It’s a very friendly environment for us.”

You have set up close to Tech City in East London, home to Europe’s biggest concentration of hi-tech start-ups. How did hear about it?
“When I heard about Tech City, I Googled it and sent an email. I was amazed: I received a phone call within two hours and the next day I was touring the area. It was an amazing service. You can’t find these things anywhere else in the world.”

What difference has setting up in London made to your business?
“We have won contracts with some of the most dominant players in the market. And these are not one-off contracts, they are recurring.”

Menelaos Ioannidis, Managing Partner, SenseOne Technologies

Published: April 2013