In another one of the many steps being taken towards developing the car of the future, Swedish company Smart Eye is developing an eye-tracking software that it hopes will be implemented by European car manufacturers in the near future.
The company was originally founded with the intention of creating a means of control for computers that could be used by those unable to operate a standard mouse and keyboard, due to either injury or disability.
But today the company is looking to apply their technological developments over a wider field, in an attempt to help as many people as possible. Having grown more than 50% in the last 12 months alone, it appears that Smart Eye is well on its way to realizing that goal.
“Our software makes it possible to say if the driver is tired, if the driver is paying attention,” said Martin Krants, founder of Smart Eye.
Krantz's goal is to have his company's technology on the road in production vehicles as early as 2017. This could not have been possible had it not been for The InnovFin SME Guarantee, a financial backing from the EU that is motivating banks to take risks on small tech companies with big dreams.
Should the companies that become funded through this program fail, the EU will absorb a large portion of the losses, reducing the risk posed to the banks, allowing them to be less stringent with their loan applicant selection process.