About IOT

The beginning

From being a university spin-off in a four sq. m office, to becoming multinational, present in 69 countries in just over 15 years.

 

 

In 2010, IOT established its North American headquarters in Southern California, partnering with Younger Optics. This relationship has allowed them to expand worldwide.

When Daniel Crespo finished his Ph.D. in applied optics, he set up a company specialized in calculation and simulation software: Indizen Technologies. Four years later, in 2005, after facing numerous scientific and technical challenges (and overcoming them), Daniel returned to the same university department where he received his Ph.D. There he pursued his research with his optics and optometry professor and thesis director, José Alonso, and his former mentor and collaborator in physics, Juan Antonio Quiroga.
 
One day, in the university cafeteria, the idea of doing something together popped up. José had long entertained the idea of starting a company with Daniel and Juan Antonio. Until then, lenses were manufactured through the concave face with surfaces with symmetry of revolution. But José Alonso proposed using a new technology that had just been launched: free-form, which allowed to manufacture any surface on the concave face. If they developed the right software, they could, for the first time, offer their own custom lenses. They had just found their first market niche.

Fundación Parque Científico de Madrid (FPCM), created by two of Madrid’s leading universities (the Autónoma and the Complutense), allowed them a smooth transfer from academia to the business world. It also helped them with their business plan and even with financing.

They put their knowledge into practice to generate a new business model. Given their limited understanding of the business world, they listened carefully to everyone: employees, customers, new team members, the market. They had a vision and poured all their enthusiasm, passion, and effort into it. In less than three years, the first version of IOT Freeform Designer® was ready to launch. The rest is history.

IOT’s beginnings were not easy. Its first office was in the city outskirts and only four sq. m (43 sq. ft). Currently, its offices are located in the heart of Madrid and in Torrance, California. It now serves more than 400 partners in more than 69 countries around the world. Not bad for a company that started as a university spin-off.

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