This item was published during the term of a previous administration that ended in April 2007
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Funding spurs fight against tooth decay
24/08/2005
A Dundee company which has pioneered technology for the early detection of tooth decay has accepted £150,000 innovation grant support from the Executive.
IDMoS plc, based at Dundee Technology Park, will receive the maximum award from the Executive's SPUR programme for the next stage of their work - developing a 3D tooth-imaging device.
Enterprise Minister Nicol Stephen said:
"This award recognises that IDMoS are at the forefront in developing new, innovative and technologically advanced products.
"The firm's technology allows tooth decay to be detected at its earliest stages when the disease is capable of being reversed. It means dentists should be able to focus on prevention, rather than cure.
"Many of Scotland's most dynamic small businesses have been funded through our innovation programmes, including Cyclacel here in Dundee and Wolfson Microelectronics. Investment in our high-tech companies helps them to be successful and helps the Scottish economy to be more competitive and productive."
Stephen Westwood, Chief Executive of IDMoS plc said:
"We are delighted to receive the support from the Scottish Executive which will assist us to accelerate the development of further products for the detection and monitoring of tooth decay based on our evolving 3D technical platform. The company is currently commercialising its 2D product based on our innovatory technology, utilising the funds raised by the flotation in November 2004."
The company have also been supported by Scottish Enterprise Tayside, who assisted the company with prototype development, quality control procedures and fund raising prior to its successful flotation on the Alternative Investment Market (AIM).
Scottish Enterprise Tayside chief executive Shona Cormack commented:
"This latest funding announcement is a well deserved recognition for IDMoS's ground breaking innovations. IDMoS is exactly the type of ambitious, growth orientated company that SE Tayside is keen to work with and we are delighted to have supported them in accelerating the commercialisation of their technology."
IDMoS was originally a spin-out company from the University of Dundee in 2001. The company floated on the
the AIM (Alternative Investment Market) in November 2004.
The Executive's SPUR programme supports small and medium sized enterprises (SMEs) at a rate of 35 per cent of eligible costs, with a maximum award of £150,000. SPUR, along with the SMART scheme, helps companies bring research and development projects to the market. The company received a £45,000 SMART award in 2002.
Scottish Enterprise is the main economic development agency for Scotland covering 93 per cent of the population from Grampian to the Borders. The Scottish Enterprise Network consists of Scottish Enterprise and 12 Local Enterprise Companies. Working in partnership with the private and public sectors the Network aims to build more and better businesses, to develop the skills and knowledge of Scottish people, and to encourage innovation to make Scottish business internationally competitive.