Weebit Nano (ASX: WBT), the Israel-based semiconductor company seeking to develop and commercialise the next generation of memory technology, has been selected as a finalist for the 2018 Red Herring Top 100 Europe award, a prestigious list honouring the year’s most promising technology ventures from the European business region.
The Red Herring editorial team selected the most innovative companies from a pool of more than 1200 companies from across Europe. The nominees were evaluated on 20 quantitative and qualitative criteria, which included disruptive impact, market footprint, proof of concept, financial performance, technology innovation, social value, quality of management, execution of strategy, and integration into their respective industries.
Commenting on the announcement, Coby Hanoch, CEO of Weebit Nano, said: “Weebit Nano is proud to be announced as a finalist in these awards. It’s further validation of our innovative approach todevelop our SiOx semiconductor memory elements that will be significantly cheaper, faster, more reliable and more energy efficient than existing technology and help power the next generation of computing with artificial intelligence acceleration and the Internet of Things.“
The 2018 Red Herring Top 100 Europe Award comes on the back of recent accolades for Weebit Nano including the EE times Silicon 60: Startup to watch 1list of promising emerging companies to follow in 2018.
“Technology industry executives, investors, and strategists have valued the Red Herring Top 100 lists for their ability to spot the most promising ventures and business opportunities from around the world. Red Herring 100 Awards are widely seen as one of the industry's more prestigious recognitions, with thousands of candidates from each continent competing. Red Herring's editors were among the first to recognise that companies such as Facebook, Twitter, Google, Skype, Salesforce.com, YouTube, and eBay would change the way individuals live and work. So it’s great company to be in”, said Mr Hanoch.
Alex Vieux, publisher and CEO of Red Herring said, "This year was rewarding, beyond all expectations. There are many great companies generating innovative and disruptive products in Europe. We had a difficult time narrowing the pool and selecting finalists. Weebit Nano shows great promise and therefore deserves to be among them. We know that the 2018 crop will grow into some amazing companies that are sure to make an impact."
Finalists were selected based upon their technological innovation, management strength, market size, investor record, customer acquisition, and financial health. Red Herring reviewed companies in telecommunications, security, cloud, software, hardware, biotech, mobile and other industries that completed their submissions to qualify.
Finalists are presenting their winning strategies at the Red Herring Europe Forum in Amsterdam with winners to be announced at an awards ceremony on the evening of 17 April.