Business News
Frost & Sullivan Recognizes PowerID as the 2008 Global RFID Entrepreneurial Company of the Year
Wednesday 06. February 2008 - PowerID Ltd., the industry leader in battery-assisted, passive (BAP) RFID technology, announced today that Frost & Sullivan, a global growth consulting company, has selected PowerID as the recipient of the 2008 Frost & Sullivan Award for Global RFID Entrepreneurial Company.
This Award is presented each year to a company that demonstrates superior entrepreneurial ability in its industry. It also signifies Frost & Sullivans identification of a breakthrough solution offering with significant market potential. Additionally, the Award certifies that the companys marketing strategy is sound and poised for success. PowerID was identified for the Award for emerging as the most promising company in the global RFID market today.
“Based on our extensive research and interviews, PowerID stood out and richly deserves recognition for their accomplishments,” said Priyanka Gouthaman, Frost & Sullivan Program Manager. “PowerIDs unique RFID technology addresses specific applications that until now could not benefit from the use of RFID. They have a sound business plan, new offerings in the pipeline, and experienced senior management to ensure their continued success.”
Frost & Sullivan selected PowerID based on sound research methodology. Entrepreneurial ability was assessed using mostly primary research with top manufacturers and end-users in the industry. Frost & Sullivan analyst teams performed extensive interviews with vendors to evaluate its products, business, and marketing plan. In addition, primary research with leading manufacturers was performed to benchmark the award recipient’s strategy for growth against established players’ strategies. Also considered were elements such as strategic alliances, expected time to market, and the senior management team. Finally, primary research with end-users was conducted to evaluate and compare the value of the award recipients product solution.
“We are extremely pleased and gratified to accept this Award,” said Erez Kahani, CEO of PowerID. “For Frost & Sullivan, a world class company with worldwide recognition, to recognize PowerID as the Global RFID Entrepreneurial Company for 2008 is simply outstanding. This Award validates the diligence, perseverance, and dedication of our people and our business plan.”