Digital Pixel secures first contract in the Middle East, insured with government's Small Export Builder.
The Brighton-based firm will supply cutting-edge microscopy systems to a medical school in Saudi Arabia
UKEF's Small Export Builder allows small businesses to obtain export insurance with a credit limit of up to £25,000 and build up to £100,000 as they establish a positive trading history with buyers
Digital Pixel, a Brighton-based pioneer in advanced microscopy systems, has successfully entered the Saudi Arabian market with insurance from UK Export Finance (UKEF) - the government's export credit agency.
For over two decades, Digital Pixel has been at the cutting edge of scientific imaging research, supplying advanced microscopy incubation technology - which enables the observation of live cells under the microscope - to prestigious institutions including Cancer Research UK, and the Universities of Cambridge, Oxford, Heidelberg and Paris. The four-person business has been exporting for 15 years across the UK, Europe and Australia.
Presented with the opportunity to supply parts for a high-resolution microscope in a medical school in Saudi Arabia - a market where they had no trading relationship - the business struggled to obtain commercial insurance.
The company applied for UKEF's Export Insurance Policy with an initial credit limit of £12,150. This made Digital Pixel automatically eligible for UKEF's Small Export Builder (SEB).
SEB allows small businesses in all sectors to obtain export insurance with a credit limit of up to £25,000 and build up to £100,000 in 50% increments, as they establish a positive trading history with their overseas buyers. This approach has given Digital Pixel the confidence to secure the contract in Saudi Arabia.
Lisa Maddison-Brown, UKEF's Export Finance Manager for Kent, East Sussex and West Sussex, said:
Digital Pixel's success demonstrates exactly why we created the Small Export Builder - to help smaller businesses access new markets with confidence.
The beauty of this facility is that it grows with the business, allowing them to build trading relationships incrementally whilst managing risk effectively.
Digital Pixel's international growth continues, as the company expects to reach £250,000 in export sales this financial year.
Dr Leslie Patrick Vanderpant, Co-owner of Digital Pixel, said:
As a small business, taking on a new buyer in an unfamiliar market involved risks we simply couldn't manage alone. UKEF's Small Export Builder has given us the confidence to expand our trading relationships and take on orders from clients in markets that are new to us.
This contract represents our first foothold in the Middle East and could pave the way for further expansion in the region.
The SEB is part of UKEF's enhanced business support announced in the government's Trade Strategy, designed to make export protection more accessible to smaller businesses seeking financial security when trading internationally. Digital Pixel's success in breaking into the Middle East marks a significant milestone for the company and demonstrates how UKEF is supporting SMEs at the cutting edge of UK innovation to compete globally.
Over the last financial year, UKEF provided a record £14.5 billion in new financing, helping over 667 UK companies to export and grow, supporting up to 70,000 jobs across the country.
