Waratek voted top global innovator at SWIFT innovation competition
Waratek win innovation challenge with their revolutionary solution that dramatically cuts infrastructure costs using patented Java Virtualization
Dublin, 23rd September 2013: Waratek won the title of “Top Innovator” with a solution that solves a growing problem affecting the future use of Java as the industry moves towards higher levels of infrastructure virtualization and private Clouds.
“Java is the world’s most popular programing language but it wasn’t developed for modern day computing requirements” said John Matthew Holt, Founder and CTO, Waratek. “By virtualizing at the software level our Java Virtualization enables 10x increased application density with no code changes required”.
Waratek were recognised by the SWIFT member community and senior innovation executives of global financial institutions, VCs and angel investors as the most promising startup likely to deliver new services that will shape the development of the financial sector.
Over 200 early-stage startups and growth-stage companies from around the world competed as part of the 2013 Challenge. A panel of over 100 industry experts, including senior innovation executives at global financial institutions, VCs and angel investors selected 45 semi-finalists to participate in 3 regional events in London, Singapore and New York earlier this year. 15 of the 45 companies were selected as finalists at those three events to compete at Sibos Dubai.
Javier Perez-Tasso, Head of Marketing at SWIFT said: “The Innotribe Startup Challenge 2013 has taken another huge step towards facilitating innovation between the startup and wider financial communities. Since its inception the Challenge has grown in popularity and success, which is evident by the high caliber of audience attendees we’ve seen here in Dubai. Over the last year we’ve seen a number of previous participants gain recognition in the industry and secure significant funding to help them take their innovations to the next level, and I am proud that Innotribe has played a part in that journey. I am delighted that we are able to give Waratek the opportunity to do the same.”
Waratek is a specialist JVM company that has developed disruptive and patented technology leading to the next generation of virtualization. The team’s extensive and revolutionary research has led to game-changing technology, which increases application density whilst bringing the benefits of Cloud delivery to core code.
The Waratek CloudVM imbues Java with Cloud features, such as elasticity and multitenancy, reducing application infrastructure requirements, and improving the speed-to-market for existing and new Java applications. Unique utility metering provides resource specific statistics and allows for application charge-back.
Waratek is headquartered in Dublin, Ireland with offices in London, New York, Sydney, Tokyo, Shanghai, Taipei and Seoul. Backed by 50 international investors, the largest is Mangrove Capital Partners, a leading VC and the biggest investor in Skype.