NOVOSOUND, the firm behind a ground-breaking technique to mass-manufacture printable ultrasound sensors, has received a £1 million development grant from Scottish Enterprise.
It is part of a £2m project which is aimed at rapidly scaling up the company’s R&D activity and recruiting new, highly skilled staff.
The company, which is based at Biocity, the biotech incubator located on the M8 just outside Glasgow, was the first spin-out company from the University of the West of Scotland raising £1.5m at its seed investment round in April 2018.
The company will create 17 new positions with expertise in STEM disciplines to accelerate the company’s R&D programme developing hi-tech sensors for industrial and medical markets, taking staff numbers to over 30.
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Novosound, which was founded by Dr Dave Hughes and Richard Cooper, claims to have revolutionised ultrasound technology, which it says had remained largely unchanged for 40 years, by replacing conventional sensor materials with a flexible film.
Mr Hughes said: “The global opportunity for Novosound is enormous with the ultrasonic market now valued at $45 billion and growing at over 10 per cent every year and this funding will allow us to scale up and significantly accelerate our R&D and production activity.
“It allows us to create new highly skilled jobs for technical people with STEM skills which we are looking to fill in the coming months. Currently, our R&D team is 50% female and we hope to build on this with the new recruits.”
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