Red Hat’s acquisition of Waterford Institute of Technology (WIT) spin-out FeedHenry last month for €63.5m must rank as one of the biggest acquisitions of a campus company in Irish academic history.
Dublin: 23.10.2014 08.54PM
Vincent Reynolds, chair of the Network of County and City Enterprise Boards; Jim Hughes, founder of Innovate; and Tom Banville, CEO of Wexford County Enterprise Board
Wexford-based IT and telecoms firm Innovate has won the overall award at the National Enterprise Awards, organised by the county and city enterprise boards to recognise Ireland’s most innovative microenterprises.
The company received its overall award at a ceremony in the Mansion House, Dublin, last night.
Jim Hughes set up Innovate in 2005 and the company is based at Knockmullen Business Park in Gorey, Co Wexford. Nine people are now employed at the firm, which has developed a telecoms product called Voicegrid. Innovate is also developing cloud solutions, including a server platform, a cloud email platform and a cloud security solution.
According to managing director Hughes, Innovate now has a turnover worth more than €1.4m. Some of its clients include Glanbia, British American Tobacco and Allianz Worldwide Care.
Rita Guinan, chair of the organising committee of National Enterprise Awards, described Innovate as a deserving winner of the 2012 award.
"The company is building a strong business model and is committed to continuing research and development," she said.
Other winners last night included Dublin firm Keoghs Crisps, which won the best start-up award. Quickcrop from Co Sligo won the innovation award, while Hailstorm Commerce from Co Limerick was named best exporting business.