LEADING mid-tier accountancy firm French Duncan, a sponsor of Converge Challenge, Scotland’s flagship entrepreneurial business competition, has congratulated Madhu Nair on being named Scotland’s top rising star in research-led business...
As CEO and co-founder of SACCADE Diagnostics, a company spinning-out from the University of Aberdeen, Mr Nair is set to benefit from £35k cash and £25k in-kind support from the private sector – the biggest prize fund of its kind in Scotland – having beaten off tough competition from a record 60 applicants from within Scotland’s universities and research institutes.
SACCADE Diagnostics is now set to commercialise a novel eye-movement test as an assistive point-of-care tool for the rapid diagnosis and clinical management of major psychiatric disorders.
Converge Challenge gives students and members of staff of Scottish university and research institutes access to training and support to develop their entrepreneurial skills and explore commercial potential of their inventions.
Commenting on his success, Nair said: “The ultimate goal is to set up my own business and I'm particularly thrilled that I have managed to have been trained and mentored in so many aspects of business management - an invaluable experience that helps me bridge the academic and commercial worlds. This has been an incredible experience for both myself and the other finalists.”
Congratulating Nair, Jeff Meek, head of media and technology at French Duncan, said: “We’re delighted to assist the creation of the next generation of Scottish entrepreneurs through sponsorship of Converge Challenge and are confident that this award win is just the start for Madhu and SACCADE Diagnostics.
“As an independent Scottish firm of chartered accountants and business advisors, we are fully supportive of Converge Challenge’s goal to provide students and staff with commercial skills that will help enable them to bring to market novel products and services, thereby helping Scotland grow as a prosperous, competitive economy.
“With extensive experience working alongside young companies and university spin-outs, helping to grow profitable businesses and protect ownership by winning support from existing and new backers, we have a range of skills that can help companies like SACCADE Diagnostics ensure that they don’t make decisions at the outset that they might regret later.”
Aberdeen, Dundee, Edinburgh, Glasgow, Heriot-Watt, St Andrews, Stirling and Strathclyde universities all jointly funded the training and prizes for Converge Challenge, which is open to all Scottish universities and research institutes.
French Duncan’s comprehensive advisory service is well positioned to supply relevant and practical advice with particular emphasis on the development of strategic plans and forecasts as well as the raising of capital and grants for new and existing businesses, claiming R&D tax credits, providing accounting services, payroll and VAT advice.
ENDS For further information please contact Jeff Meek on tel 0131 225 6366 Issued on behalf of French Duncan by Liquorice Media tel 0141 297 1699 www.liquorice-media.com Date: 2nd October 2013