Electronics Weekly puts its questions to an industry figure: George Elliott is chairman at miniature OLED display company, Edinburgh-based MED (MicroEmissive Displays). The former CFO at Wolfson Microelectronics is also a board member at a number of technology companies in Scotland. He is a strong believer in the need for start-up companies to think globally from day one.

How would you describe the state of the high tech start-up community in Scotland?

It's a fairly healthy community with companies like Wolfson, MTEM, Optos and most recently Craneware inspiring many potential entrepreneurs to take the plunge and there are also a growing number of people who have worked in large organisations who have started their own businesses in the last three years.

Added to that, Scottish universities and the venture capital community are working more closely than before to increase the number of spin outs, economic development agencies are trying to identify and nurture potential winners and there is a large well established "angel" network and some well respected VC companies with excellent track records.

What are the key "technology triggers" when trying to get venture backing?

There aren't any hard and fast rules but essentially the underlying technology must be compelling and address a genuine need for example significantly improves performance, significantly more cost effective, drastically reduces power etc. Having properly specified the product the management team must demonstrate they have the relevant expertise and track record for delivering and that they have researched the market and competition well.

In addition the business must show significant growth potential with good gross and operating margins together with visibility of earnings or clearly defined milestones and a clear business model, route to market and supply chain.

Ultimately make realistic assumptions on costs, funding requirements, deliverables and time-lines.

Describe in two sentences MED's technology.

MED's polymer OLED eyescreen microdisplay brings together colour TV-quality video images with ultra-low power consumption. This combination together with design features such as its integrated driver ICs and digital interface makes eyescreen the perfect technology for the next generation of portable 'personal display' products.

Thinking global is crucial, so how does a company in Scotland break in to the market in China?

Whether you like it or not, if you are in the tech business you are competing on a global stage. To be successful your technology/product/component/chip must provide a solution to a real problem or issue. Technology companies need to identify the main markets/applications for their products and target the major suppliers in these markets no matter where they are located. Companies in search of solutions don't mind where these solutions come from.

The majority of design-in activity for consumer electronic products is still controlled directly from the US, Europe, Japan and Korea. China tends to be used as a low cost manufacturer where cost tends to be the differentiating factor. Although the domestic market in China is growing, it is still in its infancy.

What are the benefits of working in Scotland?

Where do I start? There is an excellent pool of talent, there are first class universities, Scotland has a world-wide reputation for engineering excellence coupled with a pioneering spirit and innovation and you get a great quality of life.

See also: Q5 - Interviews with electronics industry leaders
Read all the Electronics Weekly Q5 interviews. From ARM's chairman, Sir Robin Saxby, to touchscreen technology firm Zytronic's MD, Mark Cambridge, the business leaders share their particular insights on the UK electronics industry.