X-ray specialist IBEX Innovations is planning to export its products around the world in an effort to boost turnover by £150,000 within 12 months.
Based in Sedgefield’s NETPark, IBEX uses X-rays to produces images that can be used in a variety of sectors, such as medical, security, electronics, and food inspection.
The firm is now looking to expand internationally by selling its products around the world. Over the next year it intends to add £150,000 to its top line and create four new jobs.
To launch its international plans, IBEX attended the European Congress of Radiology in Vienna, to promote its technology within the medical community. The conference allowed the firm to develop new relationships with potential customers and suppliers from the USA, Japan and Europe.
Kurt Scott, grants and project delivery manager at IBEX, said: “The conference was a resounding success. We had really positive responses from companies and clinicians interested in our technology.
“Being able to attend events like this is invaluable as it means we are able to actively engage with market leaders.”
IBEX was founded in 2010 by Dr Gary Gibson as a consultancy firm but has since started developing its own technology. The company now employs 17 highly skilled scientists, engineers and business professionals.
The team has been working for three years to make its technology suitable for the medical sector, which accounts for 80% of the X-ray imaging market.
IBEX was able to attend the conference after receiving support from the Department for International Trade.
Mr Scott said: “Thanks to the Department for International Trade funding, we were able to attend the European Congress of Radiology to exhibit and present the technology in scientific sessions. Attending the conference was a great way for us to spread the word about what we do.
“We’re hoping to attend more exhibitions in the future. Now we have put ourselves out there, we need to maintain our presence in the industry. Our technology is always developing so we need to reflect that.
“I would recommend the support from the Department for International Trade to any business. The advice has been crucial, particularly on working with foreign markets.”
The company works with Durham University’s mathematics department to develop its core technology. It also maintains close links with both the Newcastle Hospitals NHS Trust and the South Tees NHS Trust to consult on medical applications.
Source : Chroniclelive