Small businesses account for
99 per cent of all companies in
the UK and are key drivers of
economic growth, employment
opportunities and innovation.
Because of their size, SMEs are often much better
at identifying and embracing new trends and,
therefore, driving innovation. This allows SMEs to be
pioneers in emerging technologies, paving the way
for bigger investments – particularly in the Health
Technology and Life Sciences sector.
Because of their adaptability, SMEs arguably have a
better chance of withstanding difficult economic conditions
and they are faster
at recovering from
crises – which has been
particularly pertinent over
the last
seven years.
Such adaptability also brings
more balance to the economic growth
of the UK and ensures that local communities participate in
stimulating growth.
In this feature, we’ll look at two examples of our SME members
who have rapidly grown their businesses over the last few
years, whilst also detailing a major national project in the area
of skills and training – an area constantly rated as one of the
highest priorities for SMEs.
SME CASE STUDY: ZILICO
Zilico Ltd is developing the next generation of diagnostics
that utilise electrical impedance spectroscopy (EIS) to provide
accurate and real-time results. The company’s flagship
product, ZedScan, is in the area of cervical cancer diagnostics
and received its CE mark in September 2013.
Chief Executive Sameer Kothari said: “The CE mark gives us
the regulatory approval to market and sell this product as a
diagnostic system and, more importantly, allows clinicians to
use this device in clinics.
“The CE mark opens ZedScan up to the European market and
allows us to sell it. We have already sold into the UK, Ireland,
Netherlands, France and expect other countries to come on
board shortly.
“In addition, the CE mark also lowers the regulatory hurdle
in countries where they have a different
regulatory framework.
The ZedScan device
ZedScan was also granted TGA approval
in January 2014, providing access to the
Australian market.
“The immediate focus is to drive the adoption
of ZedScan in the marketplace and in turn
the commercial sales.
“In the medium to long-term, we are
developing an exciting product pipeline such
as, the sister device to ZedScan, which is a
point-of-care screening test, to a diagnostic
for oral cancer and an intra-operative device for
differentiating tissue margin during surgery, all of
which have proof-of-concept data that have demonstrated
the potential.”
To find out more visit: www.zilico.co.uk
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