Intelligent Product Solutions (IPS) Company Profile

Background

Intelligent Product Solutions (IPS), founded in 2008 and headquartered in Hauppauge, New York, is an award-winning global product design and development firm. As a subsidiary of Forward Industries, IPS offers comprehensive services encompassing the entire product development lifecycle—from ideation and prototyping to manufacturing and sustaining engineering. The company's mission is to empower innovation by delivering end-to-end product solutions across diverse industries, including consumer electronics, medical devices, enterprise solutions, and Internet of Things (IoT) connected products.

Key Strategic Focus

IPS specializes in providing integrated product design and engineering services, with a strategic emphasis on:

• Internet of Things (IoT) Solutions: Developing connected devices that enhance user experiences and operational efficiency.

• Software Application Development: Crafting custom software solutions tailored to client needs.

• Wearable Technology: Designing innovative wearable devices for various applications.

• User Interface (UI) and User Experience (UX) Design: Creating intuitive and engaging interfaces to improve product usability.

The company targets primary markets such as consumer electronics, medical technology, enterprise solutions, education, transportation, energy and infrastructure, government and defense, and consumer experiences.

Financials and Funding

While specific funding details are not publicly disclosed, IPS has demonstrated financial stability and growth. The company's estimated annual revenue ranges between $10 million and $50 million, with approximately 95 employees. In 2018, IPS was acquired by Forward Industries, a publicly traded company, further strengthening its financial position and market reach.

Technological Platform and Innovation

IPS distinguishes itself through a robust technological platform and commitment to innovation:

• Proprietary Technologies: The company has developed proprietary solutions in IoT, software applications, and wearable technology, enabling seamless integration and enhanced functionality.

• Scientific Methodologies: IPS employs advanced methodologies, including rapid prototyping, user research, and interdisciplinary collaboration, ensuring products are technically sound, scalable, and user-centric.

• AI-Driven Capabilities: Leveraging artificial intelligence, IPS enhances product design and development processes, resulting in more efficient and innovative solutions.

Leadership Team

IPS's leadership team comprises experienced professionals dedicated to driving innovation and excellence:

• Bob Wild: Chief Executive Officer (CEO). Appointed in January 2025, Bob brings extensive experience in technology and business development, having previously served as Chief Operating Officer at IPS.

• Brad Carlson: Vice President of Technology and Business Development. Joined IPS in August 2024, contributing significantly to the company's technological advancements and business growth.

• Mitchell Maiman: Co-Founder and Executive, Strategy & Business Development. With a background in product design and engineering, Mitchell has been instrumental in shaping IPS's strategic direction.

Leadership Changes

In January 2025, Bob Wild was promoted to CEO, succeeding the previous leadership. This transition reflects IPS's commitment to internal growth and leadership development.

Competitor Profile

Market Insights and Dynamics

The product design and development industry is characterized by rapid technological advancements and increasing demand for innovative solutions across various sectors. Companies in this space must continuously adapt to evolving market needs and technological trends to maintain a competitive edge.

Competitor Analysis

Key competitors in the product design and development industry include:

• Manifold: Specializes in AI research and engineering solutions, focusing on artificial intelligence, biotechnology, and cloud platforms.

• GateKeeper Systems: Provides intelligent cart solutions, emphasizing shopping cart retention and shoplifting prevention.

• SOGECLAIR: Engages in large-scale design and co-development projects for major industrial clients, offering innovative simulation and virtual reality solutions.

Strategic Collaborations and Partnerships

IPS has established significant collaborations to enhance its market position and innovation capacity:

• Neuvotion, Inc.: Partnered with IPS to develop AI-driven neurostimulation technologies and products for rehabilitation and physical therapy markets.

• Digital Medicine Society (DiMe): Collaborated to advance digitally-enabled hospital-at-home care, reflecting IPS's commitment to healthcare innovation.

Operational Insights

IPS's strategic considerations include:

• Market Position: Leveraging its comprehensive service offerings and industry expertise to maintain a competitive edge.

• Competitive Advantages: Emphasis on end-to-end product development capabilities, proprietary technologies, and a multidisciplinary team approach.

• Differentiators: Commitment to innovation, client-focused solutions, and a proven track record of successful product launches.

Strategic Opportunities and Future Directions

Looking ahead, IPS aims to:

• Expand Service Offerings: Continue developing cutting-edge solutions in IoT, wearable technology, and software applications.

• Strengthen Industry Partnerships: Forge new collaborations to enhance technological capabilities and market reach.

• Invest in Talent Development: Attract and retain top talent to drive innovation and maintain industry leadership.