Cambridge Consultants puts weight behind start-up award
A new ‘start-up’ category has been introduced to the IET’s (formerly known as the IEE) annual Innovation in Engineering Awards for 2006, and is being supported by Cambridge Consultants - a company synonymous with helping start-ups take novel technologies to market. It is expected that the winner of the new category will greatly benefit from a raised public profile, as well as highlighting the importance of innovative start-ups across the broad high-tech industry.
Eric Wilkinson, head of Products and Systems at Cambridge Consultants, comments, "We are supporting this new category because of our internationally recognised pedigree in this area. Ever since we were a start-up in the early 60s, we’ve always worked with others who share our passion for innovation. This continues today with start-up companies making up a sizeable proportion of our client base"."
Start-ups are vital in driving industrial evolution on an international scale. The energy, drive and commitment shown by start-up companies is something that should be publicly recognised," added Wilkinson.
In addition to assisting start-ups, Cambridge Consultants also has an impressive history of creating start-up companies. These ventures include CSR, Domino and Xaar, who are all publicly listed and have a combined market capitalisation of £1.8 billion. Other spin-offs include Alphamosaic, Vivid and Inca, who have subsequently been acquired by Broadcom, Vectura plc and Dainippon Screen, respectively.
The category judging panel is looking for overall commercial innovation that addresses an unmet need in a truly innovative way. They are also looking for a demonstrable market proposition, a unique competitive advantage, a viable business plan and scale-ability, preferably to an international platform.
Companies interested in nominating themselves can do so until June 30th and from the IET’s website (www.theiet.org/innovationawards). The awards ceremony will be held on October 11th at Savoy Place, London.
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Notes to Editors
About the report
About the IET Innovation in Engineering Awards
The start-up category is just one of 16 categories that make up the IET’s Innovation in Engineering Awards, which have been designed to recognise and reward innovative organisations and raise the profile and importance of innovation. As a new institution, formed in spring 2006 by the coming together of the IEE and the IIE, the IET (Institution of Engineering and Technology) has a worldwide membership of more than 150,000 and aims to serve a global community engaged in engineering and technology.
The inaugural awards in 2005 attracted over 250 entries across 14 award categories. The 65 judges identified the 14 winning entries from a shortlist of over 50 entries, all of which were recognised and rewarded at the awards presentation evening in September 2005.
About Cambridge Consultants
Cambridge Consultants has, for over 45 years, enabled its clients to turn business opportunities into commercial successes, whether launching first-to-market products, entering new markets or expanding existing markets through the introduction of new technologies. We develop breakthrough products, create and license intellectual property, and provide business consultancy in technology critical issues for clients worldwide. With a team of over 200 engineers, scientists and consultants, in offices in Cambridge (UK) and Boston (USA), we are able to offer solutions across a diverse range of industries including healthcare, industrial and consumer products, automotive, transport, energy and wireless communications.
