From imec Spin-Out to Global Disruptor: Insights from PhotonHub Scaling Club Member Swave Photonics
The future of photonics is being written today by visionary scale-ups that are redefining how we see, connect, and interact with the digital world. One of the most exciting voices in this space is Mike Noonen, CEO of Swave Photonics, a company pioneering holographic extended reality (HXR) chips that promise to transform visualization markets, from AR eyewear to immersive displays.
As a standout member of the PhotonHub Scaling Club first cohort, Swave Photonics has benefited from exclusive investor connections, strategic partnerships, and tailored growth support. In this interview, Mike shares perspectives on his journey, from joining Swave to scaling groundbreaking photonics technology — and offers advice for the next wave of companies preparing to embark on their journey.
With the second cohort of the PhotonHub Scaling Club Dual Use being announced at Tech Tour Next Gen IC in Eindhoven (November 4–5), now is the moment for ambitious photonics scale-ups to seize this unique opportunity to accelerate their growth.
TT: As an experienced leader who has scaled multiple technology companies to IPOs and acquisitions, share with us about your current role – what drew you to lead Swave Photonics?
MN: There were several reasons I was attracted to Swave Photonics:
- Even though holography was invented in 1947, the same year as the transistor, it has only existed as a photographic process or as CGI special effects in the movies. This was an opportunity to bring a technology to market that everyone has been expecting, but until now was not technically possible.
- Swave is a spinout from imec, where the fundamental technology was proven out. Having worked with imec for 20+ years, I have great respect for the researchers there and the innovations they have enabled.
- I was very impressed with the founding team, who had the right combination of experience, enthusiasm and vision necessary for a successful deeptech startup.
TT: Swave is pioneering holographic extended reality chips with the potential to disrupt visualization markets — what do you see as the most immediate applications for your technology, and how do you envision it reshaping industries in the next five years?
MN: Swave’s Holographic eXtended Reality (HXR) nano-pixel technology and Spatial Light Modulator (SLM) have unprecedented pixel-pitch and resolution. This is essential to make holography a reality. While important for many applications, our initial focus is on Augmented Reality smart eyewear. HXR will enable mass-market AR glasses with compact form factors and a natural, reality-first, viewing experience.
TT: Looking back at Swave’s journey so far, what has been the company’s biggest milestone, or a “tipping point” moment that shaped your vision?
MN: Swave has enjoyed many successes and milestones since its founding in 2022. The biggest milestone is our recent first-pass success of our Onyx SLM prototypes. Onyx proved out the HXR technology with 256M nano-pixels on a tiny CMOS die. This is a photonics breakthrough with semiconductor economics. Editor’s note: Earlier this year, Swave announced a €27M Series A funding round to catalyze the advancement of its Holographic eXtended Reality (HXR) platform, and more recently the HXR was recognized with a CES Innovation Award 2025.
TT: Swave was part of the first cohort of the PhotonHub Scaling Club. How did being in that group help accelerate your journey, and how would you describe the value of the experience?
MN: It is a tremendous honor to be in the PhotonHub Scaling Club first cohort. We have greatly benefited from the warm introductions to potential investors and prospective partners. The validation and door-opening provided by the PhotonHub Scaling Club has greatly enhanced and accelerated these funding and business development efforts.
TT: As the next cohort of PhotonHub Scaling Club is shaping up, what advice would you share with the new group of scale-ups about to embark on their own journey?
MN: Our advice would be to explore and prioritize all the resources available through the Tech Tour and PhotonHub Scaling Club. These initiatives are unique not just in Europe but worldwide. They can be an amazing force multiplier for startups who need partnership, mentorship and investment to scale and reach their full potential.
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From proving out semiconductor-grade holographic breakthroughs to gaining momentum through the PhotonHub Scaling Club, Swave Photonics exemplifies how ambitious photonics companies can accelerate growth with the right ecosystem of investors, mentors, and partners.
Now, the journey continues with the announcement of the PhotonHub Scaling Club Dual Use cohort, an exclusive opportunity for 10 scale-ups ready to fast-track their go-to-market strategies and secure significant follow-on investment. Selected companies will benefit from:
- Tailored mentorship and strategic guidance from industry leaders
- Investor introductions to cornerstone backers in the European and global ecosystem
- Partnerships and collaboration with key dual-use stakeholders
- The chance to propose a technical upscaling project with 85% co-funding from the European Commission (up to €250K)
If your company fits the dual-use innovation scope, has raised €1M+ in the past three years, and is ready to advance technology from TRL 4 and beyond, this is your chance to scale with impact.
🚀 The PhotonHub Scaling Club Dual Use second cohort will be officially announced at Tech Tour Next Gen IC, November 4–5 in Eindhoven.
👉 Apply now or contact Iliana Kostadinova for more information.
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