Supplementary evidence from HSBC
SMART AWARDS USAGE
BY HSBC TECHNOLOGY-BASED
HSBC has not historically recorded businesses
with SMART awards separately on its customer database. However
a survey of our Technology Banking Managers indicates that:
All of them have SMART winners among
their portfolio of businesses.
In particularly technology rich areas,
as many as 50 per cent of a Technology Banking Manager's customers
will have applied for a SMART award.
We have over 100 SMART winners across
our network of 18 Technology Banking Managers, representing more
than 20 per cent of their overall portfolio.
As these figures relate to managers specialising
in technology firms, the usage of SMART will obviously be higher
than the "mainstream" network of the bank. However,
we are aware that many of our other managers also have SMART winners
An Oxford based firm, Mirada Solutions Ltd,
has authorised us to use them as an example of usage of government
support schemes, including SMART. This case study is attached
as an appendix.
Mirada Solutions Ltd is the result of the "fusion"
of two companies (OMIA and OXIVA) spun out from the Medical Vision
Laboratory of the University of Oxford. The Medical Vision Laboratory
is a world class research centre which has been developing clinically
proven technology for over a decade. OMIA was founded in 1997
and focused on solutions for the cardiology and oncology markets.
OXIVA, founded in 1999, concentrated on X-ray mammography.
OMIA and OXIVA merged in 2001 to form Mirada
Solutions Ltd, a leading provider of medical image analysis algorithms.
Mirada is based in Oxford. It aims to serve companies demanding
a competitive edge to their medical imaging, and also to meet
the needs of doctors requiring software packages that solve medical
imaging problems not currently tackled by the imaging industry.
Government/EU funding and support
To advance technology developed in the University
of Oxford Medical Vision Laboratory (MVL) to provide an accurate
3D representation of the breast from the two 2D views normally
acquired when taking breast X-rays. This technology has been patented.
SMARTEcho Cardiology Project£19k
Received to help apply technology to track ultrasound
images of the left ventricle of the heart through the cardiac
cycle. The method was again developed in the MVL. This tool has
undergone successful clinical trials and is now being developed
for commercial application. This technology is also patented.
ADEQUATEEcho Cardiology Project£122k
Part of basic scientific and clinical trials work
supported through an EU grant to a partnership of Mirada, the
University of Oxford a leading hospital in Madrid and the John
Radcliffe Hospital in Oxford. This enabled the image analysis
techniques to be improved and first stage clinical trials to be
Mammogridpotentially up to Euro 200k
An EU supported programme covering the study of the
epidemiology of breast cancer and the development of computer
aided detection of breast tumours. The project involves a number
of prominent hospitals, the University of Oxford and CERN and
started in September 2002.
e-Diamondpotentially up to £462k
DTI supported project to exploit Grid Technology
to develop aids for the diagnosis of breast cancer, together with
teaching and education tools. The partners with Mirada are the
University of Oxford, a number of UK hospitals and IBM. This project
started in May 2002.
Investment in Mirada has been made by:
The Oxford College fund (not the University Challenge
Comvest (a venture capital fund)
Two significant business angel investors
A range of smaller investors
Loan facilities have been provided by HSBC under
the DTI Small Firms Loan Guarantee Scheme, following an appraisal
by the HSBC Chair of Innovation at University of York.