Ultan Technologies, an Irish start-up that develops bespoke software solutions for device and sensor management, has won the 2012 MBA Entrepreneurial Venture Award from the Association of MBAs (AMBA) in London.
Cathal Brady is the founder of Ultan Technologies, which has developed software products to enable utility companies to bill and manage customers more efficiently.
Brady picked up the award at a ceremony in London held by the AMBAs to recognise entrepreneurship and innovation by MBA alumni and students who have recently founded new ventures.
Brady is an MBA graduate from UCD Michael Smurfit Graduate Business School, having graduated in 2004. He went on to set up Ultan Technologies in 2009.
The company is a graduate of the DIT Hothouse programme and is an Enterprise Ireland high-potential start-up. In March of this year, Ultan Technologies won the top prize at the Docklands Innovation Awards.
The start-up employs 12 staff between its Dublin and Ukraine-based offices. According to Brady, the plan is to take on an additional 10 employees in the next two years, as Ultan Technologies expands its customer base across Ireland, the UK and the US.
He said the company is aiming to grow its turnover to €14m within the next five years.