A cloud infrastructure start-up, OrionVM, has taken out the $25,000 broadband innovation award at the Tech23 event held in Sydney this week.
The event saw 23 start-ups pitch to a range of experienced investors and industry players, who decided which businesses would take out a range of prizes, of which the Broadband Innovation Award was one.
OrionVM, founded in 2009 by CEO Sheng Yeo and his peers at the University of Technology Sydney, Joseph Glanville and Alex Sharp, offers a high-performance computing and storage services platform delivered over the web. It has commissioned independent testing which shows that it outperforms Amazon in key metrics.
The broadband award recognised the business that would drive the most demand for broadband services and have the most potential to thrive in the future broadband environment.
The company will use the award to attempt to crack $1 million in revenues for the current financial year and also fund plans to expand to Asia and the United States over the next two years. It will achieve this via the acquisition of hardware and sales and development staff, according to Yeo.
"We are very excited with the potential of our company going forward, and it is great to receive some good feedback and validation from the industry and the government alike," Yeo said.
"OrionVM is ecstatic to have won the prize, and we look forward to continuing our good relationship with the NSW Department of Trade and Investment going forward."
The complete list of NSW government prizes and winners were:
- Broadband Innovation Award — OrionVM
- Outstanding Collaboration — Centryc
- Catalyst Award — StageBitz
- Greatest Potential Award — Filter Squad
- Innovation Excellence Award — goCatch