On January 25th, Poznań Science and Technology Park of AMU Foundation signed a sale agreement. By virtue of the agreement, PSTP sold 44% of its shares in the Photo HiTech company to Synthos S.A., a listed company. This first PSTP attempt to sell such shares triggered a huge success in commercialising an innovative idea.

Photo HiTech proposed a solution thanks to which paints, varnishes and other polymer coatings cure faster and more effectively and do not harm the environment. The solution consists in an innovative use of photoinitiators developed by Joanna Ortyl, Eng.Sc.D., from Cracow University of Technology.

– Photoinitiators are particularly effective in using the UV radiation energy during the curing of paints, varnishes and other polymer coatings put on different grounds. They also speed up the process of producing these polymer materials. – explains Joanna Ortyl, the inventor of photoinitiators and the President of Photo HiTech.

It was Poznań Science and Technology Park that facilitated the commercialisation of the results obtained by Joanna Ortyl, by investing its financial resources from the seed fund established within Action 3.1. of the Innovative Economy Operational Programme. The Park formed a company in which it took 44% of shares, and launched the commercialisation of Joanna Ortyl’s idea.

– PSTP invested in the company due to the enterprise’s innovative solutions, high product and market development potential, as well a strong management team. What is more, we were particularly content with the company’s profile, as PSTP specialises in co-founding and developing chemical companies. – says prof. Hieronim Maciejewski, a member of AMU Foundation Management Board and PSTP Deputy Director.

The company received comprehensive support from PSTP experts who provided for business consulting and helped in networking. One of the experts made Synthos S.A., another listed chemical company, interested in the solution proposed by Photo HiTech. As a result, Synthos purchased the Photo HiTech shares from PSTP.

– It’s a huge success, both of the Photo HiTech company and its innovative product. We are also proud that the idea we decided to commercialise was acknowledged by Synthos, a strong player on the Polish market. – comments prof. Hieronim Maciejewski.

PSTP plans to invest the funds obtained from the sale in the commercialisation of new solutions and forming new companies. It is not only its capital that PSTP offers – modern laboratories, server rooms, as well as the support of advisors and mentors are also some of the Park’s assets.

– We are looking for projects characterised by high innovative potential, whose intellectual property rights are or may be under legal protection. Nevertheless, it is a strong, business-oriented and determined team that is most likely to persuade us to invest in a company. – states prof. Jacek Guliński, the AMU Foundation President and the Director of PSTP.

Joanna Ortyl is positive about the fact that one’s research results should be commercialised rather than kept secret:
– I think the last two years were the era of broadening our horizons and transforming from a mere scientist focused on exploring the world’s phenomena into a person who can translate their scientific achievements into practical solutions. No one teaches us that, it is the cooperation with the right people that leads to a success. We are sincerely grateful to PSTP for developing our idea, for their advisory and networking help, as well as for being very understanding.
Connecting with the strategic partner, i.e. Synthos, is a milestone for Joanna Ortyl. Gaining the interest of a Warsaw stock-market company is a proof of the photoinitiators’ quality and innovative potential.