Datanomic, a data management specialist whose technology is available in South Africa through Bateleur Software, has achieved finalist status for the 2010 Red Herring Europe 100 award, a prestigious list honouring the most promising private technology ventures from the world European business region.
Red Herring is a media company whose mission is to cover innovation, technology, financing and entrepreneurial activity. Its staff of award-winning journalists tell readers what's first, what matters and most importantly, why.
To compile this list, the Red Herring editorial team select the most innovative companies from a pool of hundreds from across Europe. The nominees are evaluated on both quantitative and qualitative criteria, such as financial performance, technology innovation, quality of management, execution of strategy, and integration into their respective industries.
This assessment of potential is complemented by a review of the actual track record and standing of a company, which allows Red Herring to see past the ‘buzz’ and make the list an invaluable instrument for discovering and advocating the greatest business opportunities in the industry.
"This year was especially difficult," says Alex Vieux, publisher and CEO of Red Herring. "Despite the global economic situation, there were many great companies producing really innovative and amazing products that we had a difficult time narrowing the pool and selecting the finalists. Datanomic shows great promise therefore deserves to be among the Finalists. Now we’re faced with the difficult task of selecting the Top 100 winners of Red Herring Europe award. We know that this year’s crop will grow into some amazing companies that are sure to go far."
Finalists for the 2010 edition of the Red Herring 100 Europe award are selected based upon their technological innovation, management strength, market size, investor record, customer acquisition, and financial health. During the several months leading up to the announcement, hundreds of companies in the telecommunications, security, Web 2.0, software, hardware, biotech, and clean tech industries sent in their submissions to qualify for the award.
The finalists will present their winning strategies at the Red Herring Europe Conference in Paris this week (May 25-27). The Top 100 winners will be announced at a special award ceremony on May 27 at the event.