One of 19 high growth UK companies selected for business support
Loughborough, UK - 30th April 2014 - CommAgility, a developer of high performance processing hardware for wireless applications, was this week one of the founding group of 19 companies to join the London Stock Exchange's ELITE business support programme.
Matthew Hancock, MP, Skills and Enterprise Minister launched the programme at an event at Imperial College, London, hosted by Xavier Rolet, CEO of London Stock Exchange Group and Professor G. 'Anand' Anandalingam, Dean of Imperial College Business School.
ELITE is a two-year programme, supported by Imperial College Business School, which will provide companies with tailored business support for growth and investment, and access to a select group of 45 stakeholders including a range of corporate advisers and investors.
The programme is aimed at UK companies that are revenue-generating and rapidly growing. CommAgility has clearly demonstrated its success in these areas with its previous achievements in winning a Queen's Award for Enterprise in International Trade in 2013, and featuring in the Deloitte UK Fast 50 list of fastest growing technology companies in 2012 and 2013.
Xavier Rolet, CEO, London Stock Exchange Group, said: "ELITE will provide high growth companies, like CommAgility, with the essential tools they need to develop, as well as help foster a connected financial ecosystem, promoting the right type of funding for the business at each stage of its journey. We firmly believe that companies such as CommAgility will fuel the long term growth of the UK economy, and that ELITE is a unique platform to help companies achieve their full potential."
Matthew Hancock, Minister of State for Skills and Enterprise, MP, said: "Innovative, imaginative and inspiring small businesses are essential for the British economy and it is part of the Government's long term economic plan to ensure that they have the right environment to grow. Programmes such as ELITE that offer access to high quality education, advice and support will help businesses scale up in the right way."
Edward Young, Managing Director at CommAgility, said: "We are delighted to be joining the ELITE programme. This is an excellent opportunity to get expert support and advice, and to network with and be challenged by our peers in other UK high growth companies. The programme will definitely help CommAgility to develop and grow further as a company."
Major trade body supporters of ELITE include the CBI, ABI, BVCA and Tech City. Companies will also have access to the programme's ELITE Entrepreneurial Fellow, Sean Phelan, founder of Multimap and angel investor. Over the course of the programme, management teams will be guided on how to adapt and shape their businesses for growth and increase their visibility and attractiveness to potential investors.More information on the ELITE programme is at http://elite.londonstockexchange.com.
CommAgility is an award-winning, world-leading developer of embedded signal processing and radio modules for 4G and 5G mobile network and related applications. We design the latest DSP, FPGA and RF technologies into compact, powerful, and reliable products based on industry standard architectures. Our customers around the world integrate CommAgility products into high performance test equipment, specialised radio and intelligence systems, R&D demonstrators and trial systems. We are highly flexible and work closely with our key customers to meet their technical needs and to support them through development into volume production. CommAgility was honoured with a Queen's Award for Enterprise in International Trade in 2013, and featured in the Deloitte UK Fast 50 list of fastest growing technology companies in 2012 and 2013.
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