Isle of Man company Bodystat Limited recently moved into new, purpose-built premises in Tromode, Douglas, with the support of the Department of Economic Development’s Financial Assistance Scheme (FAS). The company pioneers technology into various medical fields such as possible early detection of the onset of disease as well as other medical disorders within the body.
The move to new premises fulfils a long held objective of Bodystat Managing Director & President, Sakkie Meeuwsen, who founded the company in 1990. The environmentally friendly new building called Ballakaap is located just off Ballafletcher Road in Tromode, Douglas.
Bodystat is just one of many companies who have benefitted from the Department of Economic Development’s FAS, the overarching objective of which is to encourage diversification of the local economy. The FAS provides a range of grants and soft loan support to eligible businesses that can meet the commercial and environmental criteria laid down.
The Department of Economic Development continues to investigate opportunities to attract new businesses in the bio-med sector to the Island. Furthermore, it is the intention of the Department of Economic Development to bring forward legislative changes during 2012 for Intellectual Property, which will further improve its potential offering.
For Mr Meeuwsen the move represents a big step in the company’s plans for expansion. He said:
‘We are delighted with the quality of our modern, purpose-built premises. The Company has grown significantly over the past few years and we are grateful to the Department of Economic Development for the grants we have received which have helped us invest in new computer hardware, tooling and marketing. This has been a tremendous source of encouragement to us, knowing that the Isle of Man Government has faith in our ability to succeed in such a competitive environment.’
Laurence Skelly MHK, Department of Economic Development’s Political Member with responsibility for Manufacturing, said:
‘Bodystat is an excellent example of an innovative and ambitious Isle of Man company planning to enter new markets and new countries in order to grow business. This is exactly what the Isle of Man Government is encouraging.
‘The success of the company is another example of how this is paying economic dividends and I wish both him and his team continued success for the future.’
Further information on the Department of Economic Development’s Financial Assistance Scheme can be found on the website http://www.gov.im/ded/grants/financeassist.xml.
