Thanks to ongoing support from Scottish Enterprise, Insignia Technologies Ltd is preparing to take its groundbreaking packaging technology to a global, £multi-billion market.
The company created an intelligent ink that changes colour when exposed to external influences such as time, oxygen and humidity levels. Developed by leading chemist Professor Andrew Mills, the technology can be used in a range of different products, and the company hopes it will help reduce the estimated 18 million tonnes of edible food sent to UK landfill each year.
Based at BioCity Scotland, Insignia Technolgies is a collaboration between Insigniapack Ltd and Novas Technologies Ltd. Insigniapack previously developed a range of intelligent inks for use as sensors in food packaging, while Novas Technologies (a spin-out company from the University of Strathclyde) are experts in smart pigment technology.
Their unique packaging technology was developed through a Scottish Enterprise Proof of Concept Programme, carried out at the University of Strathclyde in 2010. Ongoing support from Scottish Enterprise’s High Growth Support team has also helped the company identify routes to market, develop its IP strategy and explore overseas territories.
Additional support to refine the technology came via a £100,000 SMART:SCOTLAND grant (contributing to a total project cost of £136, 648), and the company also has £710,000 of Young Innovative Enterprise funding (supported by the European Union) in place to help it upscale and branch out.
Eleanor Mitchell, Director of Commercialisation at Scottish Enterprise said: “Through our Proof of Concept support, Strathclyde University’s initial idea was translated into a technology with real commercial potential.
“We are very encouraged to see the two companies collaborate and will continue to support them with access to finance, business networks and advice to enable its rapid growth.”
Stephen Currie, Chief Operating Officer for Insignia Technologies said: “Thanks to the substantial support we’ve received from Scottish Enterprise we are in a strong position to deliver our ambitious growth plan, generating significant revenue through global customers from our base in Lanarkshire”.