Navicore wins the 2005 Incubator of the Year Award
Navicore Ltd, which specialises in navigation technology products, has won the 2005 Incubator of the Year Award. FogScreen Inc. and Genestia Group Inc. – Neoxen Systems received honorary mentions.
The network of Finnish technology incubators announced the 2005 Incubator Business of the Year award at a seminar in Helsinki on 31 October 2005. The companies were selected from among eight candidates shortlisted by Finnish technology incubators that are members of the Finnish Science Park Association TEKEL.
The grounds for selecting Navicore were the company’s swift growth and its excellent products. In two years, the company has attained the market leader position in Finnish consumer markets and is among the leading three companies in Europe.
Panu Vuorela, CEO of Navicore Ltd., is happy with the services provided by the business incubator.
“The incubator and the infrastructure and office services it provides have been a tremendous support for a growth company such as Navicore, which needs to be able to direct all the input of its own staff into productive operations. The premises are highly suitable for international business, and present a trustworthy and modern image to international partners, although the company might still be in the early stages of development,” says Vuorela
FogScreen Inc., which received an honorary mention, has a unique concept and innovation in its fog projection screen, a product that has been enthusiastically received around the world.
Genestia Group Inc.– Neoxen Systems, which produces software solutions, received an honorary mention for its business partnership skills. During its short history, the company has been able to create partnerships and make cooperation agreements with the biggest operators in the field.
Olli Mankonen, Department Manager, Business Development, Turku Science Park Ltd, was a member of the jury.
“The general criteria are innovativeness, competitive factors, growth potential, market potential and company development during the incubation period,” says Mankonen.
The Incubator Business of the Year award was presented for the second time. Last year the Jyväskylä-based company Firstbeat Technologies Ltd won the award, while Oy 4Pharma Ltd from Turkureceived an honorary mention.
