Mansfield bio-tech company Rayal Limited will be able to expand thanks to a £55,000 grant from the East Midlands Development Agency (emda).

Founded in 2002, Rayal supplies diagnostic test kits and automated systems to the food industry for the detection of Listeria and Salmonella. The company is based in the Mansfield i-centre, a purpose-built innovation centre for knowledge based companies within the region.
The grant will contribute to a programme of capital investment enabling Rayal to provide a better service to their existing clients and attract new customers, whilst creating new product ranges and developing their own innovative ideas.

Rayal Director Alastair McCulloch said: “Investment is always going to be a major challenge for any young company and we are no exception. We did however find a major ally in emda who we were fortunate enough to become involved with.
“To date the risk is paying off with new customers coming on board to find an exceptional level of both product and service which we are able to provide and sustain through progressive investment.”

Stefan Cartier, Project Monitoring Manager at emda, said: “We are pleased to support innovative companies such as Rayal, especially when this enables them to expand their market. We wish them well with their expansion plans.” 

The grant was made under the Selective Finance for Investment in England (SFIE) scheme which is delivered by emda in designated parts of the East Midlands. The scheme is designed to encourage capital investment in business and is funded by emda and the European Regional Development Fund.

However the SFIE scheme will close to new applications on 30 November 2006 because the map of eligible regions across Europe is being re-drawn.

Stefan Cartier added: “The Business Investment team at emda is still actively looking for potential SFIE projects and in light of the forthcoming review of SFIE at the end of this year, I would encourage any company considering a similar investment in their business, to contact us’