PRODUCT PROFILE

Latest Dublin Prices

Irish tech start-up wins London award

Tuesday, October 30 10:49:27

Ultan Technologies, a Dublin based start-up that 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, an MBA graduate from UCD Michael Smurfit Graduate Business School, at a gala award ceremony held in London.

The award recognises entrepreneurship and innovation by MBA alumni and students who have recently founded successful businesses.

Speaking about winning the award, Cathal Brady, CEO and founder, Ultan Technologies, said, "Innovative, smart and new high calibre businesses from around the world were nominated for these awards. 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." He added, "I would like to thank the UCD Michael Smurfit Graduate Business School for nominating me for this award and I would like to thank the staff in the Business School and at Nova UCD who helped me prepare for this competition."

Cathal graduated with a first class MBA from UCD Michael Smurfit Graduate Business School in 2004. He 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 E450,000 with plans to grow that to E14 million within five years. Brady added that they recently won a new contract worth E300,000 over the next three years.