Best New Life Science Company in Scotland - I2eye Diagnostics Ltd
Having developed the world's first visual field analyser for the patient groups whose visual field was previously impossible to test, I2eye is targeting an immediate market estimated at £500 million and looking to exploit further market potential of £15 billion.
The company has already started shipping products to customers less than ten months after starting commercial operations.
I2eye Diagnostics Ltd is a Scottish Enterprise High Growth Support Unit assisted company and is one of 12 companies that won a Scottish Enterprise supported place on the prestigious Entrepreneurship Development Programme at the Massechusetts Institute of Technology in Boston.
I2eye's chief executive was on the winning pitching team last week from a cohort of over 100 chief executives from around the world.
Peter Estibeiro, I2eye's chief executive said "I'm very proud of all we have achieved in the last year, it would not have been possible without the dedication of my colleagues in the company and the support we've received from Scottish Enterprise, the Edinburgh BioQuarter and our investors led by Kelvin Capital. We are absolutely delighted to have been chosen as best new company."
Below is a video of Alex Salmonds visit to the Edinburgh BioQuarter which features I2eye Diagnostics Ltd.
New company Waveblade Ltd has raised £550k in a deal with Glasgow based business syndicate Kelvin Capital and the Scottish Investment Bank, a division of Scottish Enterprise.
Waveblade is about to hit the US and global market. Designed for the marine sector and based on a patented wave technology, Waveblade is the world's first submersible handheld power tool to remove fouling and growth from boat and submerged surfaces.
Kelvin Capital, a business angel syndicate based in the West of Scotland, has committed £3million towards investment in eight brand new Scottish businesses.
The angel syndicate finalised two deals in September 2012 with another six due for completion by January 2013, contributing significantly to Scotland's economic growth in a number of important sectors.
Kelvin Capital held its very first Investor event on July 17th at the Blytheswood Hotel. This was a highly enjoyable evening for all who came along.
We had representatives from 4 of our portfolio companies, Viopti, WaveBlade, I2eye and Oplight. Each company gave a little pitch on their product to the audience that was made up of Kelvins members, friends and future investors. This is now going to become a regular event on Kelvins calendar to keep our investors up to date with our portfolio companies.
Kelvin Capital is pleased to have supported with the funding needed by Scottish based company MODE Diagnostics for further development of their products. In placing this investment we can now add Mode to our list of exciting investment portfolio companies.
MODE Diagnostics is a University of Glasgow spin-out company, which has recently secured a further £975,000 equity investment together with £136,000 in business and R&D regional grants. This funding will support the Company's development of novel health screening products for use in the home.
The health and wellness screening products being developed by MODE are overcoming the significant technical challenges of this market and are being designed to allow consumers to check themselves for early indications of a range of diseases including various cancers and infectious diseases.
“The fund-raising attracted a strong portfolio of investors including return investments from IP Group plc and Scottish Investment Bank. New investors included London based Parkwalk Advisors, Glasgow University Holdings, current Directors and Management and the syndicated investor Kelvin Capital.”
Mode Diagnostics, Press Release 2nd July 2012
The recent funding for Mode was also covered by The Scotsman, The Herald and Business 7. Take a look at the links below:
The Scottish Technology Showcase brings together over 1500 delegates, 150 exhibitors and 20 industry speakers from all over Scotland, UK and internationally to meet, listen, discuss and showcase how technology can offer solutions to business challenges, in all industry sectors.
We had a busy day meeting new people as well as a number of old friends from our portfolio companies and associates. The highlight of the day was having the honor of John Swinney MSP, Cabinet Secretary for Finance, Employment and Sustainable Growth visit our stand.