IT takes a long time to become an overnight success.
The old adage still rings true for Neil Martin, founder and chief executive of CST Global, the Lanarkshire-based company at the forefront of applying laser technology across a range of sectors.
Following a career in the electronics and computing industry in the US and Ireland, Glaswegian Mr Martin launched the firm in 2000.
The subsequent bursting of the global tech bubble created difficult conditions but the firm rode the storms, finding new applications for lasers across communications, healthcare, industry and defence.
A substantial investment in 2017 gave the firm access to new equipment and markets, and significant growth over the last year has put CST Global in a strong position.
“We’ve had average growth of 14 per cent since 2010, but last year we more than doubled the business,” explains Mr Martin.
“We’re now catching a wave of transition to this technology. The materials we specialise in are not limited to communications. One of the most interesting areas at the moment is self-driving cars, where lasers are used to make them more accurate and responsive. This will enable the forthcoming revolution in this sector.
“Another area of interest is the creation of hand-held breath sample devices for the collection of health information. It’s a really exciting time for our business.”
Over the last eight years, the company, which has its headquarters at Hamilton International Technology Park, has expanded from 25 to 75 employees.
Indeed, the creation of quality science and technology jobs is a key driver for Mr Martin, who grew up in the city’s Drumchapel district.
“Today there are 17 people in our workforce who have a PhD, with another eight in the pipeline. We have a quality international workforce that encompasses Mexico, India, Italy, England and, of course, Scotland.
“Contributing good jobs to the local economy is a great thing to be able to do.
“Last year was the first time someone had retired from the company and I was gobsmacked because despite being in business for 18 years I’ve never thought of us as anything other than upstarts using disruptive technology.
“Things have definitely changed since we started out. I used to look out at my car and two others sitting on a bit of rough ground. Now there are so many cars in a proper car park.
“It’s really cool to be able to say we are now competing on a level playing field with billion dollar companies in the US and Germany.”
The 55-year-old, who lives in Bearsden with his wife and three children, says when it comes to having natural attributes for entrepreneurship, he’s always been “stubborn, with a good eye for what might be coming next”.
And he believes finding the right partners is a key part of growing any business.
“It’s important to have the right legal team at your back,” he adds. “Wright, Johnston & Mackenzie have been with us since 2009. Their international support network has been particularly useful to us over the years.”
Mr Martin admits the US and Europe are the main innovators in his sector, but says CST Global is gaining recognition. And he has some good advice for those hoping to follow the firm’s lead.
“It’s not just the quality of the investment money available in the US, the aspiration model is much higher over there, too,” he says. The residual knowledge base just doesn’t really exist in the UK.
“When you’re looking for funding, it’s good to look at where the money is coming from. Better to seek out investors who know the industry well. Look as far afield as you can for the right investor.
“There will always be people around with money who can twig to a good idea when they see it, but at the end of the day you have to be bloody-minded and persistent to see it through. A good dose of naivety helps, too.
“It’s about being able to see where things are going, but not being stupid enough to think it’s all going to happen tomorrow.”
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