The incubator as a door opener for LumeoTech

The incubator is not only where new ideas are born - it's where relationships are built that change the future for many entrepreneurs. For startup LumeoTech and investor Jenny Iodlovsky Norrby, one of the knowledge days led to investment and a new business relationship with common roots in China.

-The Incubator is truly a place where things happen and new opportunities are created! It has been an important part of LumeoTech's journey and this story is an example of the doors that can be opened," begins Leo Hong Wu, LumeoTech's CEO and founder.

Together with his co-founder John Holmgren, Leo has developed a groundbreaking attachment technology that makes it possible to attach wearable technology to fabric, and soon also fur and skin. The technology is used for everything from health sensors to personal alarms.

Trollhätte resident and investor Jenny Iodlovsky Norrby came into contact with LumeoTech through the incubator's InnoCap investor network and quickly became curious.

- At first it was the product that caught my interest. The need to attach technology to the body is only going to grow, and I see huge potential in LumeoTech's solutions," says Jenny.

"It's always the people who decide"

A month later, during one of the incubator's knowledge days, Jenny's interest grew when she heard Leo talk about the company's journey on stage.

Leo and his co-founder John are both likeable and have lots of energy and a clear drive. You can have great products, but at the end of the day it's the people that make the difference," she continues.

During a coffee break, they had the chance to sit down and get to know each other better.

-There is something special about sitting down and talking face to face. Getting to know each other during a classic pitch or via a pitch deck is difficult. I believe that the physical meeting is the basis for creating trust, says Leo.

During the conversation, it would quickly become clear that Leo and Jenny had a common link: their roots in China.

Leo grew up in Sweden but was born in China, and has recently been there for extended periods to establish LumeoTech in the Asian market. Jenny moved from Shanghai to Sweden with her family when she was two years old, and her sister still lives in Shanghai.

It was the start of a closer cooperation

Shortly after, Jenny, along with another local investor from our network, decided to invest in LumeoTech. For Jenny, it was the drive of the founding team that made the investment happen!

It was also important for her to be able to contribute more than just money.

-"When I join a company, I want to feel that I can make a difference. It's about being able to open doors and support entrepreneurs on their journey.

The investment was the start of a closer collaboration. When it was time for Leo's next trip to China in the fall, Jenny was also going to visit her sister. Leo invited her to Shenzhen to give a deeper insight into LumeoTech's work.

No sooner said than done! The days in the city of millions, often described as China's Silicon Valley, became a memory they will never forget. Jenny went on everything from factory visits to see how the products are made, to dinners with LumeoTech's partners.

This story is one of many examples of how meeting places and networking events for entrepreneurs and investors can open doors and create new opportunities. LumeoTech was part of our incubator between 2022-2024 and now belongs to an exciting group of alumni companies, whose development we continue to follow with great interest.