Wales.com

SmartKem Ltd, a participating company of the University of Wales Global Academy Prince of Wales Innovation Scholarship (POWIS) scheme has won Gold at The Inaugural Best of British Innovation Award at Venturefest 2010.

SmartKem Ltd, develops novel materials and processes that create high resolution microelectronic components directly onto thin flexible materials. This prestigious award recognises SmartKem as one of the year's most exciting technology businesses for its innovative new printed electronics solution.

The Best of British Innovation 2010 Award is part of Venturefest's annual technology showcase which identifies three of the most exciting new technology businesses in the United Kingdom and showcases them to the country's foremost investors, innovators and entrepreneurs. Displaying some of the most progressive new science companies in the country, Venturefest 2010 prompts investment in UK's high technology economy. The Innovation Showcase exhibition judging panel selected SmartKem from a shortlist of nnovative start-ups in the UK during 2010.

Based in Denbighshire, Wales, SmartKem is a new high technology enterprise delivering and generating a novel range of organic semiconductor molecules compatible with printed electronic processes. The company is also developing a high precision laser process for the fabrication of its materials into small microelectronic devices such as transistors and sensors.

Steve Kelly, CEO SmartKem, comments:

"We are delighted that SmartKem has been recognised as the most exciting new technology business of 2010. Winning this coveted award will help to boost our profile in the printed electronics market and provide us with great exposure for further equity fundraising. We are still in early stage research and development and are thrilled to be awarded for positive advancements in printed and flexible electronics."

Richie Turner, Deputy Director of the Global Academy added:

"The winning of this award for SmartKem Ltd. is not only a clear endorsement of their hugely innovative technologies but is also a clear endorsement of the quality of innovative companies that have chosen to work with the University of Wales's Prince of Wales Innovation Scholarships programme. "

POWIS is a leading edge £11.4million initiative bringing the private sector in Wales together with higher education and bright young graduates from across the globe. Currently SmartKem is benefitting from the vast experience of POWIS scholar, Dr Robert Holmes, who will be working within the company for a three-year period. The company not only receives research and development support, but they also receive access to numerous other benefits like the innovation and entrepreneurship residential programmes run by the University of Wales Global Academy and courses run by some of the world’s leading thinkers such as the MIT Sloan School. Every POWIS company or scholar is also part of the Global Academy innovation network which provides free membership to the MIT Industrial Liaison Program, a valuable resource for businesses which normally costs $60k per annum.

http://www.wales.ac.uk/en/NewsandEvents/News/GlobalAcademy/POWISPartnerCompanyStrikesInnovationGold.aspx