Profitero claims IBM’s London seed crown

Tech start-up declared regional winner of global competition

Profitero, an Irish tech start-up specialising in the creation of pricing intelligence for retailers, has claimed victory in the London leg of IBM’s global seed accelerator competition, SmartCamp.

During an intensive two-day programme of pitching and mentoring, Profitero impressed the SmartCamp judges with its leading-edge technology, and coherent business plan.

The company eventually beat off competition from more than 80 other entrants, including Brighton-based social media company PageHub and Visible Light Communications, an LED light developer from Edinburgh.

Profitero, which only began trading last year, will now receive three months mentoring from IBM, and go forward to the worldwide SmartCamp final, in a bid to be crowned IBM Global Entrepreneur of the Year.

Volodymyr Pigrukh, CEO and co-founder of Profitero, said: “We are delighted to have won the London IBM SmartCamp award for 2011 and are looking forward to working with IBM on delivering completive intelligence to retailers and manufacturers.”

Business minister Mark Prisk added: “Congratulations to Profitero. Businesses continually tell us they want to get advice from other experienced business people and we know that those seeking support are more likely to succeed.

“Innovative projects such as this one are very encouraging because they bring together entrepreneurs with venture capitalists, academics and other industry leaders to provide coaching and critical industry support and advice. This will enable growing businesses to gain the mentoring and insight needed to continue to drive growth and innovation in their markets.”

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