G: You run quite an unusual B2B company, tell us about your business: What do you do? How did such idea come about and what did inspire you to start?
Between 1998 and 2006, my PR business Forte Communication was based in Shoreditch (with a brief Soho sojourn in the middle). We specialised in design, architecture, brands and education.
Then my GP brother came up with the concept of Peezy, a clever kit that helps women provide a clean mid-stream urine sample for medical analysis. Any woman reading this will have a knowing smile on her face already, because the regular way of doing it is at best comedic and at worst unhygienic. The inaccuracy of the process means that up to 30% of samples will be contaminated, requiring a retest (and another doctor’s appointment). So your problem won’t be diagnosed first time, and you may be given a broad-spectrum antibiotic you don’t need. It’s a waste of time and money for everyone. And not particularly dignified, either.
The logic and hygiene of Peezy was obvious, but it was the response of every woman I spoke to, the size of the market and the resulting business case that persuaded me to get involved. Also I quite like a challenge, and the prospect of creating a new gold standard for such a critical diagnostic process was irresistible.
There was no time to lose! The concept needed work … and investment, of which we’ve had £1m to date. This has paid for research and development, material testing, design, engineering, prototypes, trials, tooling, manufacturing equipment, marketing, sales and overhead. Oh and patents and trademarks across the world. They’re not cheap.
It took three years to have a market-ready product, at which point we started selling to the private sector and Europe. But it took almost another three years to persuade the NHS to approve and accept Peezy, which they did in December last year.
We’re just completing another round of investment to fund a sales team, hard-hitting promotional campaigns, and take three more products from the drawing board to market, one of which may well be ready this year.
Women everywhere, rest assured: Peezy will be at a GP surgery and hospital near you anytime soon – and if it isn’t, ask for it!
G: What are the main challenges maintaining your business and how are you overcoming them?
The biggest challenge has been breaking into the NHS. Our 99p kit could save the £8.50 retest cost and when up to 30% of 70m tests have to be retaken, that’s a lot of money. Basically within the NHS, Budget A spends on collection and Budget B spends on retests. We’re asking A to spend more to save B money. Because the two are unconnected, we had to fight our way up the decision making process to get our point across. We did it.
G: What would you say has been your most memorable experience while developing your business? What were the most successful or unique projects?
I have four: visiting “my” factory, operating “my” ultrasonic welder and making my first beautiful Peezy. Securing our first major contract with HCA Healthcare. Getting our NHS National Framework Agreement. And beating the Apple MacBook Air to first place in “Best of Show” at the Design Week Awards.
G: What were the funniest moments that happened while setting up/running your business?
Well, its funny now … during the design development stage I’d go to meetings and find a large bottle of water and a glass next to my place at the table, along with the latest prototypes that needed testing. You get the picture.
G: Tell us about DO’s and DON’Ts when running the company?
DO trust your instincts; DO ask questions. DO learn from your own and other people’s mistakes; DO seek advice from people who know more than you. DON’T GIVE UP.
G: Why do you choose Shoreditch to run your business?
It feels good. And the food round here is damn tasty.
G: What/who should help for the development of Shoreditch entrepreneurial community?
Commercial property needs an equivalent to the affordable housing quota; with the arrival of the big brands and multiples, rents and rates are going to rocket and squeeze out the people with ideas and courage. An “affordable” quota would help maintain their presence. I have no issue with progress, but independence and creativity are the lifeblood of the place and without them, Shoreditch will turn grey.
G: Who/what are your favourite CEOs/Businesses in Shoreditch?
James Goff at Stirling Ackroyd, David Eyre at the Eyre Brothers, Philip and Brix at Start. Between them I get housed, fed and dressed.
G: What are your favourite places in Shoreditch?
The Eyre Brothers, The Rivington, Shoreditch House, Casita.
G: What does the future has in store for Shoreditch?
Rainbows, nice surprises and happy times, I hope.
Social links:
Website: http://www.forte-medical.com
Twitter: Giovanna_Forte
Linkedin: http://www.linkedin.com/in/giovannaforte
