Novosound, a Scottish developer of groundbreaking ultrasound sensors has been recognised by peers at the Insitute of Physics (IOP).

The firm, which is based at Glasgow’s Biocity incubator, scooped up the Business Start-up award at the IOP Business Awards, which recognised its innovative contributions to the ultrasound sensor market.

The IOP Business Start-Up Award celebrates young companies with a great business idea founded on a physics invention. Representatives of the firm were presented with the awards at a ceremony held at the Houses of Parliament last night.

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Commenting on the award, founder and CTO of Novosound Dave Hughes said: “Our technology and new products are already generating a lot of international interest across numerous global sectors including oil & gas, aerospace, and nuclear so to receive such a prestigious endorsement from our highly experienced peers at the Institute of Physics is fantastic for the business and importantly for our highly skilled workforce.”

Novosound was the first spin-out company from the University of the West of Scotland. Since its inception, the company has grown significantly – raising £1.5 million in a seed investment round in April 2018 and £1 million from Scottish Enterprise this year to scale-up the company’s R&D activity.

The Glasgow firm is currently working on a Series A funding round, which is expected to conclude later this year.

Jonathan Flint, president of the Institute of Physics, added: “The IOP Business Awards recognise large and small companies that have built success on the creative application of physics. There are very few awards that do this.

“The application of physics has the potential to produce cutting-edge technologies, and to drive business innovation and growth. It also fuels significant positive societal and economic transformation, both locally and globally.

“Now, more than ever, we need continued investment to ensure a healthy supply of physicists in the UK and Ireland. These awards remind us of that, and of what can be achieved when our talent is encouraged, developed and rewarded.”