29 Sep 2012

First Friday event leads to success for PSAEON

Software engineers Sam Harris and Dominic Lusardi and Teesside University’s Wade Tovey met a group of business advisers and investors through First Friday. This led to the establishment of PSAEON, which sells 3D simulation software to universities to help healthcare students learn important skills.

Newcastle Science City worked with the PSAEON team to produce a business plan that could attract investment for the company’s growth. This was done with the help of business development consultants from an NSC panel, who also provided advice on generating sales leads for the product. As a result the team were delighted to be selected as a regional finalist in the 2010 Blueprint Business Plan awards.

NSC’s legal advisors also helped incorporate the company and prepared the required legal documents to enable PSAEON to put its product on sale.

The company, based at Boho One in Middlesbrough, was launched in August 2010 with an initial version of the product offering basic skills training for nurses. The system has helped significant improvement to be realised in medical student’s performance, with a 10-30% improvement in pass rates being seen amongst students using the product.

The PSAEON tools have become a core training asset for Teesside University, the largest school of health and social care in the UK. The company has also been working closely with St John Ambulance to produce a pilot for two detailed practical training tools for the first aid market.

“NSC’s input has been critical to our success to date. We were really impressed by the team’s attitude of setting strict deadlines on progress and moving things forward,” said Wade.

Sam added: “We are now exploring fresh offers of investment to develop the business further.”

 

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