A FIT Tech Growth loan of CHF 500’000 for Neural Concept and its deep-learning technology
Founded in 2018, Neural Concept developed a 3D deep-learning software for engineering and computer-aided design to optimise business processes within companies. The Tech Growth loan from the Foundation for Technological Innovation (FIT) will fund the R&D and cloud computing costs associated with further improvements to the solution.
Today, the development of a new product very often involves computer-aided design — abbreviated CAD — which encompasses all the geometric modelling techniques used to sketch, prototype and virtually test the product. By performing numerical simulations through CAD, companies are able to determine the weaknesses of their products and can then define the optimal commercial approach. Computer Aided Engineering, abbreviated as CAE, uses the same process to design, simulate and approve new products and processes in the engineering sector. However, a single CAD or CAE simulation can take hours or even days to complete, depending on the technology used — which is a real bottleneck in exploring product alternatives. In addition, human cognitive biases also limit the optimisation of business approaches.
To overcome these limitations, Neural Concept has developed a deep learning software called “Neural Concept Shape” that can predict the outcome of simulations in as little as one second. Using a complete archive of data from previous simulations and making the most of raw CAD and CAE data, Neural Concept Shape continuously learns and determines the optimal solution. With this software, companies can accelerate their R&D cycle, improve product performance and solve their next engineering challenges. With faster response times and shorter time-to-market, organisations can therefore optimise their production.
The 18-people team aims to reach out to the automotive, aerospace, marine and architectural sectors. Neural Concept has raised funds from the ESA Business Incubation Center, Constantia New Business and the High-Tech Gründerfonds.
Looking ahead, Neural Concept wishes to strengthen its position on the European market and further develop in the USA and China by opening additional offices. The FIT Tech Growth loan will enable the company to continue the development of its product by covering the costs of R&D, cloud computing and of the proof of concept.
Chief Executive Officer