S/African innovator breaks the bank

Ashley Uys, the chief executive officer of Medical Diagnostic is a multi-millionaire who is barely 30 but has succeeded in establishing an organization generally known as Africa’s leading producer of malaria and pregnancy test-kits. Recently recognized by Forbes Magazine as a top African businessman, he spoke with RITA OHAI on the dynamics of running a science-based enterprise and more.

Building a globally recognized brand from scratch while taking lecture notes in small corner of a university laboratory is a feat very few are able to accomplish.

Ashley Uys, having spent the last four years of his life creating solution-oriented and affordable products for a continent in dire need of quality medical services, is one of the few who has taken this risk and succeeded while at it.

Merging laboratory science ideas with successful business ethics can be difficult especially with vast variance in the scope of impact for each sector as well as the difference in the thought patterns of players in both fields – one being financially motivated and the other; propelled by welfare.

Projecting the values that form the core of his enterprise, Uys states, “I vouch by the principles of integrity, honesty and respect.”

Beyond mastering the life-cycles of micro-organisms and developing systems that control and prevent the spread of diseases, the South-African biotechnologist-turned entrepreneur, who at the age of 30 considers making the Forbes magazine top 30 African entrepreneurs list his greatest achievement, is committed to studying market structures and surmounting economic challenges.

Sharing how he integrates his passion for the sciences and establishing profit-based institutions, he says, “I learnt about business models while working as an intern at Acorn Technologies (an incubator supporting the commercialization of life sciences and biotechnologies). It was also during this period that I learnt about spotting the gap in the market and adding value. Being a scientist I have always thought very factually and after some business trainings, my mind was opened to the possibilities in the commercialization of science products.”

Ashley who is known across the continent for creating of a rapid malaria test kit which allows the user determine their health status in just under thirty minutes says that it is in putting his passion for science and innovation at the center of all his endeavors that he and the team at Medical Diagnostech have been able to make entrepreneurial advancements his top priority.

Revealing some of the secrets he has employed in stay afloat, he said, “Quality is a non-negotiable in terms of product and customer service. I’ve invested most of my resources in research, development, quality assurance and customer services and it is paying off gradually.

Yet in spite of the recognition he has received for the work his company is doing, it has not been an easy ride up the cadre.

Tagging cash flow, managing employees and personalities, competitor product dumping as some of the challenges he has faced in driving a medical manufacturing based venture, Uys says he is constantly faced with the running battle of scaling one of the biggest scourges experienced by venture capitalist dread and devising a means to generate income without breaking the bank as a way to survive.

According to him, “Sourcing start-up capital is often a big issue for entrepreneurs. However, I did not raise investment capital or apply for a loan. For my first order I requested cash up front. I managed my cash flow by negotiating credit terms with my suppliers and always ensured that I received cash before I had to spend cash.”

In the time that he has spent pushing against his company up the slope, he has managed to set up three viable businesses with a strategic standard operating procedure across board. As part of the company’s vision, providing cost-effective services and merchandise is premium.

By creating products like malaria testing strips that is affordable for majority of the population, a larger number of the populace can finally get access to basic health services

Transitioning from importing drug test kits in 2006 with his first company Real World Diagnostics to forming Medical Diagnostech three years later and then creating OculusID in 2013; a company that specializes in the development of biometric solutions with non-invasive impairment treatment and detection, is positioning his brand as a leading stakeholder on the global health scene.

With the Ebola epidemic as a growing issue in a few African countries, Uys who has mandated the research team at his company to investigate a system for early diagnosis of Ebola believes that although the current drive to prevent the spread of the virus is laudable more efforts should be put in place to improve the early diagnosis for its citizens as a means to addressing, after all, “in order to effectively treat any epidemic you need to diagnose disease early.”

As one who has high hopes for the future, his five year plans for Medical Diagnostech may seem a little ambitious but it’s a dream he is committed to fulfilling against all odds. In Ahsley’s words, “I’m a proud African and I believe we should build our continent by innovating ourselves. The more we export to first-world countries the better our economy. My five year plan is to list my business on a stock exchange and to invest in a research and development institution for the development of novel diagnostic and treatment solutions.”