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Recore Systems winner of New Venture 2006

ENSCHEDE, Netherlands -  On Thursday June 22, 2006, Recore Systems was rewarded the first prize of € 25,000 in the most prestigious business plan competition of The Netherlands: the final round of New Venture.

In the recent past, Recore Systems also won the ING Bank start-up Award 2006. The New Venture jury consisted of 20 experienced entrepreneurs and investors, lead by former McKinsey VIP Mickey Huibregtsen. After a thorough pre-selection, ten final nominees were invited to present, clarify and defend their plan for the critical jury. Recore Systems was granted one of the three first prizes. Recore was praised for the clearly presented business plan, the success with large, multinational customers and the well-motivated ambitions. Recore will use the prize for attracting new employees.

New Venture
About 450 companies participated in the New Venture 2006 competition. The third and final round had 105 contestants, of which ten were nominated for the final round. In the award ceremony, over 250 entrepreneurs, investors and other involved guests, Recore received a check of € 25,000 from top entrepreneur Bert Twaalfhoven, founder of 54 companies in 11 countries. Recore also won round one (business idea) and round two (feasibility analysis) of New Venture.
The New Venture business plan competition, an initiative of McKinsey and Company, provides an opportunity to transform original ideas into effective companies. Alexander Rinnooy Kan kicked-off New Venture 2007. For more information, visit www.newventure.nl

Energy-efficient chip serves enormous market
Chips become smaller, more powerful and more complex. The energy usage of such advanced chips becomes an ever increasing problem. Also, development costs increase exponentially. Recore Systems provides solutions for this combination of challenges, with a chip architecture that is ten times more energy-efficient and ten times faster than current solutions. Recore’s energy-efficient chip technology enables chip manufacturers to develop advanced chips quickly and easily. Development time and costs can be halved by using Recore’s technology. In addition, Recore’s technology is extremely flexible, as chips can be reconfigured in (less than) microseconds for different functionality.

Recore’s background and ambitions
Recore Systems is a spin-off of the reconfigurable computing group of the University of Twente, The Netherlands, and was established in September 2005. The company’s technology is based on six years of research by a team of renowned scientists. The scientific head start is turned into business. Acquired customer projects and the projected reconfigurable computing market of over 100 million Euro in 2010, are the base of Recore’s ambition to grow to a company with dozens of highly qualified employees and millions of revenue.

Contact person: Roel Reintsema, phone: 06-26248101, roel.reintsema@recoresystems.com. More information on: www.recoresystems.com.