Ultan Technologies, a Dublin based start-up which develops software solutions for device and sensor management, has won the Association of MBAs (AMBA) 2012 Entrepreneurial Venture Award. The award was presented to company founder Cathal Brady at a ceremony in London. The award recognises entrepreneurship and innovation by MBA alumni and students who have recently founded successful businesses.
"Innovative, smart and new high calibre businesses from around the world were nominated for these awards," said Cathal Brady, CEO and founder, Ultan Technologies. "To have won is testament to the hard work of the team at Ultan Technologies and indicates the continuing strength of Irish start-ups who can compete with companies from all around the world and win. We identified a growing need by utility companies to better manage their customers and bill more efficiently and we developed proprietary and bespoke software solutions for them. Our product is hosted in the cloud, which gives a huge amount of value for companies in terms of costs as they don't need to invest in extra hardware or IT infrastructure and can scale up or down as needed without the need for additional investment."
Brady founded Ultan Technologies in 2009. The company, a graduate from the Hothouse programme and an Enterprise Ireland HPSU client, currently employs 12 staff between its Dublin and Ukraine based offices. They plan to employ an additional 10 people over the coming two years as they expand their national and international customer base across the UK, US and Ireland. The company has a turnover of €450,000 with plans to grow that to €14 million within five years. Brady added that they recently won a new contract worth €300,000 over the next three years.
TechCentral Reporters