VOGO earns two subsidies in recognition of its commitment to innovation and to
reshoring French industry
EUR 600,000 in non-dilutive funding to further reinforce the Group's robust
VOGO (ISIN code: FR0011532225 - Ticker: ALVGO) announces its selection by the
French government under the industry stimulus plan, a programme that rewards
initiatives taken to bring critical production activities back to France. This
support translates to a EUR200,000 grant. The Group has also been awarded by
the State and by the Auvergne-Rhône-Alpes region an additional EUR400,000 in
financing for its Vokkero 2023 project as part of the PIA3 'Investing for the
future' scheme devoted to encouraging innovation among French enterprises.
These two funding decisions attest to VOGO's strong and long-standing
commitment to innovation and its deep roots in the region.
VOGO selected by the 'Fund to accelerate regional industrial investing'
In response to the unprecedented global health crisis, in September 2020, the
French government set up a EUR100 billion recovery plan, with EUR35 billion
earmarked for industry. While the overall objective is to modernise production
facilities and support the digital and environmental transformation, the
government also intends to use this investment plan to ensure national
sovereignty by promoting the establishment or reshoring of production in
strategic sectors such as electronics.
To contend with major tensions in the electronic components supply market and
to break free of its current Asian supplier, VOGO submitted a plan to reshore
its production in Isère, not far from its new Bernin site. This strategic
choice will give VOGO better control over its manufacturing apparatus and
enable it to modernise its entire electronic equipment production chain.
Having submitted a successful application to the Ministry of Industry's call
for projects, VOGO will receive a grant of EUR200,000. The plan will be
implemented over the next 12 months.
PIA3 ('Investing for the future' scheme):
Another acknowledgement of the Group's quest for innovation
The PIA ('Investing for the future') is a public investment initiative which
aims to support the growth of France's economy while tackling major priorities:
drive progress in post-secondary education, capitalise on national research and
accelerate innovation in strategic economic sectors, including manufacturing,
digital, transport, energy and health.
When the first 'Investing for the future' programme launched in 2010, some
EUR35 billion were disbursed, followed by EUR12 billion in 2014. For this third
'Investing for the future' round (PIA3), EUR10 billion have been announced to
make the vision a reality.
In this context, VOGO proposed its Vokkero 2023 project to bolster its
technological edge in developing artificial intelligence algorithms for speech
processing and a new platform that is more resilient to radiofrequency
disturbances. The innovative aspects of the project qualified it for the PIA3,
which comes with EUR400,000 in financing comprised of EUR200,000 in grants and
EUR200,000 in repayable advances.
An even stronger cash position
All these funding mechanisms reinforce the Group's robust financial position by
a further EUR600,000. As a reminder, at the end of December 2020, VOGO already
had disposable cash of more than EUR9.7m (excluding the EUR1.6m in financing
granted from BPI to be received). The payments will be staggered over the 2021
and 2022 fiscal years.
Pascal Saguin, Deputy CEO of the VOGO Group, noted: 'We are one of the few
companies based in the Auvergne-Rhône-Alpes to have benefited from both the
industrial stimulus plan and the Investing for the future plan (PIA3). Beyond
the financial support associated with these programmes, the recognition is a
strong testament to our commitment to innovation, to creating local jobs and to
nurturing our industrial and technological expertise here in France. We are
thrilled to receive this backing from the State and from local authorities for
two strategic projects that will help make us even more competitive as we
continue our road map for growth in France and internationally.'
In the Sports sector, VOGO is a leading international player with its
audiovisual live & replay solutions for fans and professionals alike, through
its two flagship brands: VOGOSPORT and VOKKERO... For professionals, VOGO
offers analysis and decision-making tools (referee assistance, medical
diagnostics, coaching). VOGO's disruptive solution for fans transforms the
stadium experience by providing multi-camera content on demand for tablets and
smartphones, no matter how many people are connected. VOGO also operates in the
Industry and Healthcare sectors. All of the Group's technologies are
patent-protected. VOGO operates in France (Montpellier, Paris and Grenoble) and
in North America, with an office in New York. It operates indirectly in other
countries through its network of 35 distributors. The Group has been listed on
the Euronext Growth stock market since November 2018 (ISIN code: FR0011532225 -
ALVGO). It has also been listed on European Tech40 since 2020.