Revolutionary label lands cash bonanza

An Edinburgh-made invention which pinpoints when products are about to expire has received the highest single funding boost ever from an investment bank.

The UWI Label, headed by the Capital’s Pete Higgins, could revolutionise safety standards in sectors as diverse as medicines, aerospace, cosmetics, food and drink. It has been given £250,000 by the fund, along with £254,000 secured from a US private investor syndicate and £68,000 from private UK investors.

Kerry Sharp, acting head of the Scottish Investment Bank, said: “Scotland continues to produce innovative new technologies with global appeal and the UWI Label is the latest example of an ambitious early stage start-up company with significant potential across a wide range of industry sectors.”