12/1/2003 - Dr. Malachy Devlin, Senior Vice President and CTO of Nallatech (Glasgow, UK), has accepted a SMART Achievement Award from the UK Department of Trade and Industry in recognition of the business development progress made by the company since it received its original SMART funding in 1998.
Ten SMART Award Winners were honoured at the UK SMART Achievement awards ceremony at the Ironbridge Museum, Telford yesterday. Those companies presented with an award were judged to have significantly developed products, processes or business competitiveness as a direct result of the SMART grant.
Nallatech was one of only three Scottish companies who won an award, Clearwell Subsea Ltd from Aberdeen and Scottish Biomedical in Glasgow were the other successful businesses.
Mr Wallace, The Deputy First Minister said: “The Executive’s top priority is growing the economy, and the type of success and innovation these companies have shown will help us in achieving this aim. Scotland winning three out of 10 UK awards is a tremendous achievement, and one which the companies involved should be very proud of. This is a great day for Scottish business. SMART funding gives Scottish companies that extra support which is needed to properly develop their products, and in the past two years, the Executive has invested around £11 million in this. This in turn has led to significant investment in these businesses from other sources.”
Dr. Malachy Devlin, said: “The SMART funding has given Nallatech the opportunity to develop a range of high performance FPGA systems based around its advanced DIME architecture. This has allowed Nallatech to grow significantly over the last 5 years. We now have over 50 employees and have two sales offices based in the U.S.A. The company is continuing to grow successfully with a 50% increase in business in 2002.”
About SMART Achievement Awards
SMART Achievement Awards have been in existence since 1996 and recognise former SMART award recipients who have had significant commercial success using the results of their projects. They are recipients of either SMART Feasibility Study or Development Project awards made before 2000. SMART has increased annual turnover in the economy by £500 million. This financial year has seen an increasing number of SMART projects being supported nationally with 1,140 offers of grants made in 2002/03.
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