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NUITEQ® wins Best Spin-off of the Year Award during Entrepreneurs Week

NUITEQ®, an industry leading multi-touch technology company, announced that it has been awarded with the Best Spin-off of the Year Award, during the Luleå Technical University (LTU) Entrepreneurs Week, which was held in Luleå, Sweden.

3,5 years ago, NUITEQ was founded and spun off into a commercial company, after a successful university research project, related to multi-touch technology, at LTU Skellefteå in the North of Sweden.

LTU is seeking to develop the entrepreneurial culture at the university and is therefore yearly handing out a special award for "Best Spin-off", to encourage the development of more academic spin-offs.

The spin-off companies formed from LTU research and training are important drivers for regional development and the entrepreneurial culture at the university. The award program highlights and encourages innovators and entrepreneurs at the university, by acting as a motivator.

The award is given to a company that has successfully developed a good and innovative idea into a well-oiled commercial company.

The jury of the award program looked at the following five criteria:

The company should have developed a unique product or service with a large international market potential, have its basis in research or education from the university, been founded in the last five years, be based in Sweden and have an entrepreneurial approach of innovation, pro activity, risk taking and at the same time serve as a role model for researchers, students and staff at the university.

The jury consisted of representatives from investment firm Lunova, Aurorum Business Incubator (ABI), LTU Innovation (including Idehuset) and people within the Entrepreneurship research world.

The award is made possible by LTU in collaboration with VINNOVA and Tillväxtverket and consists of a certificate and an advertisement (with a value of 25 000 SEK) in an appropriate media in which the winning company and the award are presented to a broader audience.

NUITEQ's Business Development Manager Dennis Mohi had the honor to receive the award out of the hands of professor Håkan Ylinenpää.

"We are very excited to have been awarded with this prize. I think its a important sign of recognition from our roots, for the hard work of our employees, as well as our partners, clients and other people around the world, that all have contributed to the success of NUITEQ.", says Harry van der Veen, NUITEQ's CEO. "We appreciate it that LTU Skellefteå has stimulated us to start NUITEQ and having provided us with some assistance in the early stages, to kick-start NUITEQ. I want to thank the people that nominated NUITEQ for this award, as well as the jury for their votes and the time they invested. Furthermore I want to thank VINNOVA and Tillväxtverket for making this award possible in collaboration with LTU."

VINNOVA (The Swedish Governmental Agency for Innovation Systems) is a State authority that aims to promote growth and prosperity throughout Sweden. Their particular area of responsibility comprises innovations linked to research and development. Their tasks are to fund the needs-driven research required by a competitive business and industrial sector and a flourishing society, and to strengthen the networks that are such a necessary part of this work.

About Tillväxtverket
The aim of the Swedish Agency for Economic and Regional Growth - Tillväxtverket - is to work to achieve more enterprises, growing enterprises and sustainable, competitive business and industry throughout Sweden.

NUITEQ is a VC funded, 2010 Red Herring 100 Europe award-winning, Swedish technology company, that delivers advanced multi-touch hardware and software solutions for commercial applications. Its software product Snowflake Suite, which received a Stevie Awards finalist recognition for Best New Product or Service of the Year 2009 - Media & Entertainment, is available to end clients, software developers, system integrators, VARs and OEMs.

NUITEQ's vision is to change the way people interact with technology, by creating a natural interface between users and technology. Visit www.nuiteq.com for more information.

About LTU
Luleå University of Technology is the northernmost university of technology in Scandinavia and with world-class research and education. Their strength lies in their cooperation with companies and with rest of the world around them.

Luleå University of Technology conducts research in the Faculty of engineering and the Faculty of arts and social sciences. Research at the University has an annual turnover of EUR 70 million and comprises 70 research subjects in 6 research profiles and 6 development profiles.