8power Limited, a University of Cambridge start up developing smart sensors for industrial applications, has won the 7th CW Discovering Startups Competition.
8power wins Cambridge Wireless Discovering Startups 2016
The competition is a great showcase for the very best in tech innovation from the UK and beyond, while the passion and quality of the pitches showed that invention and entrepreneurship are stronger than ever.
- Bob Driver
Discovering Startups is the flagship annual startup competition of Cambridge Wireless (CW), the leading networking organisation for the wireless industry. It attracted a wide range of applicants, from which 10 companies were selected to pitch before a high-profile panel of 29 judges from organisations including Barclays, Breed Reply, BT, CIC, Deloitte UK, Google, London Business Angels, Samsung, Silicon Valley Bank, Wayra, and other experts from the technology, investment and venture capital community.
8power was selected as one of the three winners, along with AlgoDynamix from London and 8power’s fellow Cambridge Enterprise and Ideaspace startup Focal Point Positioning. 8power was created out of the research group led by Dr Ashwin Seshia, Department of Engineering. Cambridge Enterprise Seed Funds, together with IP Group, invested a total of £700k in 8power in June 2016.
The event, held on 19 October 2016, was kindly hosted by Deloitte and sponsored by Invest in Provence, Dorsey and IC Resources. The event was also supported by Digital Catapult, SETsquared, St. John’s Innovation Centre, Tech City, Tradefair, Department for International Trade, Google and Wayra.
“All 10 finalists impressed the judges and it was challenging to whittle it down to three winners,” said Bob Driver, CEO at CW. “The competition always creates a buzz and is a great showcase for the very best in tech innovation from the UK and beyond, while the passion and quality of the pitches showed that invention and entrepreneurship are stronger than ever.”
David Cobb, innovation tax partner at Deloitte and one of the judges, said: “The finalists this year lived up to expectations and proved that the UK technology start-up scene is in rude health. Congratulations to the winners, 8power, AlgoDynamix and Focal Point Positioning, who each showed a great breadth of technology expertise and business acumen. While the spotlight is on the three winners it was a tremendous opportunity for all the finalists to get feedback and advice from 28 industry experts and investors that they can use to help drive their businesses forward.”
Commenting on the award, Dr Antony Rix, CEO of 8power, said: “We are delighted that the judges recognised 8power’s potential. The quality of pitches was tremendous and we congratulate the other finalists and winners. It was a great event that allowed us to make links both with the investment community and with potential customers. We look forward to building on this success over the coming years.”
The company’s technology has been trialled on the Forth Road Bridge in partnership with the Cambridge Centre for Smart Infrastructure and Construction.
Cambridge Enterprise exists to help University of Cambridge inventors, innovators and entrepreneurs make their ideas and concepts more commercially successful for the benefit of society, the UK economy, the inventors and the University.