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DQ News: Polaroid And The Contact Lens Business

Scotsman.com:

An entrepreneur who invented a pre-filled contact lens case after getting sore eyes during a flight to America has signed a transformational licensing deal with Polaroid that will see his creation launched worldwide in March.

Knox developed [Contactspod] during his spare time but the invention took off after he was put in touch with Jim Hall, who used to run Polaroid’s vast manufacturing base in the Vale of Leven in Dumbarton, which in its heyday employed about 2,500 people.

When Polaroid restructured the operation, Hall led a management buy-out of its European design centre and set up Wideblue, which invests in early-stage companies.

With Wideblue’s help, Knox founded Viopti in May 2009 and began discussions with some of Hall’s former colleagues at Polaroid Eyewear.

The licensing deal will see the invention sold under the Polaroid brand, which Hall said has given the start-up firm access to a whole different market, as buyers have shown far more interest in the product since it has been backed by the global giant.

“We will eventually be looking to bring in seven figures of investment,” said Hall, who is executive chairman of the firm.

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