Innovation Martlesham firm Phoelex Ltd selected for Venturefest East ‘Fast and Furious Pitch Off’
- Credit: Archant
Two ambitious start-up companies have been selected by the New Anglia Local Enterprise Partnership to take part in a business pitching contest at next month’s Venturefest East event.
Phoelex Ltd, based at Innovation Martlesham on BT’s Adastral Park complex near Ipswich, will be joined in the “Fast and Furious Pitch Off” contest by The Pension Counter, based at the Enterprise Centre at the University of East Anglia, near Norwich.
They will also face competition from finalists representing other technology clusters in the East of England, with the winner receiving 1,000 Guineas (£1,050) and two runners-up 500 Guineas each.
Phoelex is creating an optical transceiver which helps convert information such as big data, analytics, video and collaborative online gaming between computers at very high speeds.
It is said to offer dramatic cost and power savings compared with current products, and could benefit large internet companies such as Google and Facebook.
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Dr Amir Nejadmalayeri of Phoelex said: “It’s an honour for Phoelex Ltd to be shortlisted for the pitching competition. The great support of the Innovation Martlesham Incubator Program helped us reach to this level.
“This opportunity enables us to take one step further to present our business idea to an all-star panel. We hope to achieve widespread visibility through the process and at the same time to learn through the expert opinion and feedback of the panel.”
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Nicky Daniels, head of Innovation Martlesham (IM) said: “It’s fantastic news that Phoelex will be pitching at VentureFest East.
“Amir Nejadmalayeri, the founder of Phoelex, has recently been awarded a place in the IM business incubator, having targeted IM as a strong tech cluster with people and processes which would support his start-up company.”
Chris Starkie, managing director of New Anglia LEP, added: “Our chosen companies have a wealth of knowledge, expertise and are creating fantastic products which could have a major, positive impact on companies locally, nationally and globally.
“Venturefest East will help introduce them to powerful contacts who could offer collaboration, investment and business development opportunities to help grow their business.”
Venturefest East takes place at Newmarket Racecourse on Tuesday, May 24. Phoelex and The Pension Counter will also receive free entry and exhibition space at the event, together two other firms selected by New Anglia LEP, Silicon Safe and KTLG Media, which are also both based at Innovation Martlesham.