A specialist laboratory in Coventry which has won new contracts and extended its workforce after investing in a state-of-the-art instrument is planning to target more world-wide business.
Exeter Analytical, based at the Venture Centre at the University of Warwick Science Park in Canley, provides an analysis service for quality control testing for household names in the pharmaceutical, food, beverage, fine chemicals, pigments and coatings sectors as well as carrying out university research and selling equipment to other laboratories.
The business, which was established in 1994, contacted Coventry City Council’s business support team for advice and help on available grants to expand the seven-strong business.
Managing director Daya Singh was assigned a business development advisor who contacted the Coventry and Warwickshire Local Enterprise Partnership (CWLEP) Growth Hub to give advice on further business support services.
Exeter Analytical were also assisted by the Business Ready programme, run by Warwick Science Park, to support them with their marketing strategy and tactics under the lead of Business Growth Adviser Matthew Lawrence and Growth Specialist Jenny Rohde.
The result was Exeter Analytical investing £22,000 in an ICP-OES instrument after receiving a £10,000 grant from the Coventry and Warwickshire Business Support Investment Fund Programme which is part-funded by the European Regional Development Fund.
Singh said buying the instrument will allow the company to push into new markets in the UK, Europe and America.
He said: “Buying the instrument is a key part in our future growth because we are able to offer larger quantities of analysis service and it allows us to take on more customers.
“We have already been successful in securing more work with well-known pharmaceutical manufacturers and will be able to compete with larger laboratories to offer our bespoke work as well as up-sell to organisations we already work with.
“There is certain legislation which restricts companies from analysing their own products for elements such as mercury or lead so that there is no conflict of interest which is why a number of independent laboratories are needed so this is one of the areas we are going to focus on not only in the UK but in Europe and America.
“We have also recruited a business development manager to drive our business growth and sales.”
Justine Chadwick, account manager at the CWLEP Growth Hub, said this is an exciting time for Exeter Analytical as it plans to grow the business in a planned structure rather than organically.
“The Growth Hub is here to help businesses whether they are an SME or have multiple offices and in all sectors which is highlighted by the support we have given Exeter Analytical,” she said.
“We made them aware of all the funding opportunities that are available as well as helped them to secure an intern from Coventry University for three months which was useful during a busy time. “Exeter Analytical will continue to work with the Growth Hub and Coventry City Council to access further business support, advice and opportunities.”