UltraSoC is Finalist in 'Running the Gauntlet' 2007
COLCHESTER, United Kingdom - UltraSoC Technologies Ltd, has been selected as a finalist in the East of England Development Agency's (EEDA) 'Running the Gauntlet' competition for entrepreneurs and SMEs. The ten finalists were announced by the Competitiveness Minister, Stephen Timms MP, during his recent visit to Cambridge. 'Running the Gauntlet' is an investment competition and education programme which has helped over a thousand companies in the region, many in the technology sector, since it began in 2005. Over 300 companies entered this year with 50 being short-listed and 10 going through to the final. As one of the ten finalist UltraSoC now goes forward for further scrutiny by the programmes four investors - CREATE, Low Carbon Accelerator, NW Brown and SEP with a potential £2 million investment available. Stephen Timms commented, "The ten 'Running the Gauntlet' finalists demonstrate vision and the determination to succeed. I am impressed by what I have seen and heard today and wish the finalists a prosperous future."
The Company's CEO Dr Karl Heeks said, "We were delighted to get into the final of 'Running the Gauntlet' 2007 and are gratified that the technology and the business plan together with our recent progress has received the interest of such serious investors."
The outcome of this years competition will be announced at EEDA's flagship business event Destination Growth on November the 6th 2007. Doug Richards, Chairman of the 'Running the Gauntlet' investor panel commented, "Our ten finalists have shown that by grasping the opportunities offered by this programme they have been able to develop in a way that attracts investors attention. However they need to show a continued hunger for success if they are to secure the funding on offer."
About UltraSoC - UltraSoC Technologies is an international technology and consultancy services provider founded as a University spin-out in 2005, developing leading-edge, innovative technology including software tools and hardware for embedded electronic systems. More information on UltraSoC can be found at www.UltraSoC.com About EEDA -The East of England Development Agency (EEDA) is the driving force behind sustainable economic growth and regeneration in the East of England. EEDA's task is to improve the region's economic performance and ensure the East of England remains one of the UK's top performing regions. One of nine regional development agencies (RDAs), EEDA has defined three key roles; setting and shaping the direction of economic development in the East of England, persuading and influencing others to bring resources together to find innovative ways to solve challenging economic issues and Investing in imaginative projects that challenge the norm and will have a significant impact on economic development in the East of England. More information on EEDA can be found at http://www.eeda.org.uk/
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Press Contact Dr. Karl Heeks - Chief Executive Officer - UltraSoC Technologies Wivenhoe Park, Colchester, CO4 3SQ, United Kingdom Tel: +44 (0) 1954 250991 E-mail: Karl@UltraSoC.com