Ocutec, a Scottish technology company specializing in eye care, is said to have designed a material for contact lenses that will halve manufacturing costs. Ocutec has developed a thermoplastic hydrogel polymer and manufacturing methodology designed to reduce the 15-step production method to only five steps. The objective is reportedly to create high volumes at a low cost. Ocutec has raised £282,000 (€0.42m-$0.55m) to develop the prototype, £200,000 from Discovery Investment Fund in Dundee and £82,000 in public money. It plans to invest in specialized manufacturing equipment and to complete large-scale trials in the next 18-24 months. The company recognizes a big potential in emerging markets such as India and China, where wearing glasses still carries a social stigma.