Transitioning textile industry into the 21st century: the new generation needle by needle knitting machine
The knitting machine industry has not evolved significantly in the past 25 years and they use the same mainly mechanical and partially electrical knitting machines today as they did in the last millennium. 
Based on our 30+ years’ experience in this industry we have developed a new type of knitting machine that can revolutionise the complete industry. Instead of moving the knitting needles using mechanical cams on a predefined route (present solution used by industry), we have integrated miniature stepper motors to move each needle individually (needle by needle). Our innovation results in a faster, more versatile and cheaper machine allowing the production of limitless different designs in a single batch (Just in Time manufacturing). The aim of NbyN development is to take our circular knitting machine for hosiery  to the market (as the market entry point) and through it pilot the technology for the industry. The second step will be to apply our NbyN technology to all type of knitting machines.
The potential impact of this development is huge in the long term, but even in the short term we see that the NbyN circular knitting machines for hosiery will generate profits in the region of € 5 million 3 years after the development is completed. We have wide range of networks (over 50 past customers) and have sold over 1,500 custom machines to the industry. Based on feedback from our flagship partners there is a significant need for our innovation (see Letters of Intent from potential customers). This gives us the perfect platform to commercialise our new technology.
The aim of the Phase 1 project is to review the market, adjust our business strategy (licencing or distribution) and prepare for product development under the Phase 2 project.