INGe-Domo (Spain) - Nov 2007

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01 November 2007

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The Sociedad Regional de Promoción del Principado de Asturias (SRP) has provided the first of two €60,000 investments to Spanish office products business INGe-Domo. The deal will provide the company with the necessary seed capital to set up shop and a marketing strategy. The release of the second €60,000 will be subject to undisclosed conditions. The innovative nature of the products and services provided acted as the determining factor in the allocation of the funds. SRP is an Asturias Government-backed initiative that provides support to local SME through temporary minority participations and participatory grants.

Company

Asturias-based INGe-Domo was founded in 2007. The business is the result of the collaboration between an experienced electrical installations company and a well-established engineering firm. INGe-Domo will specialise in the development, installation, monitoring, distribution, certification and maintenance of ‘smart home/office’ systems. The company has recently entered in agreement with Telefónica de España and through this nonexclusive commercial collaboration INGe-Domo and Telefónica will integrate ‘smart home/office’ products and services and meet the existing demand by the real state sector. The business plan foresees little competition in the years to come and ample market opportunities. The company has also signed a collaboration agreement with Asturias-based Ingedium, Ingeniería y Domótica SL that will supply the required products and software.

People

Víctor Marroquín is the president of SRP.

Sourced from: Southern Europe unquote" 71 (Feb 2008)