Walk tall: The story of Rex Bionics

Executive Summary Walk tall: The story of REX Bionics is about the key decisions faced by the founders Richard Little and Robert (Robbie) Irving to commercialise a ‘walking skeleton’ for people who are wheelchair-bound for extended periods. The changing role of the founders in a technology-based business and the interplay between the founders’ vision and the reality of growing technology-based businesses is the focus. The history of REX Bionics lies in the founders’ first-hand experiences with people diagnosed with multiple sclerosis. Over 15 years the company evolved from a ‘workshop idea’ in a garage to public listing on the London AIM Stock Exchange. Facing multiple institutional hurdles, rapidly moving technology and high start-up costs, REX Bionics successfully commercialised the walking robotic exoskeleton inspirited by the ‘Power Load’ in the movie Aliens. Little and Irving faced some tough choices about which commercialisation pathways to pursue in the light of diverse perspectives from the board of directors, an advisory board, various investors to their personal mission.