The UK Department for International Trade (“DIT”) has recognised Frontier IP Group Plc (LON:FIPP) success in Portugal by presenting the Group with the New to Market Award at the 10th anniversary of the DIT Business Awards in the country.
The award caps a year when the Group, which provides a range of commercialisation services to university spin outs in return for equity stakes, incorporated its first Portuguese portfolio company, a result of its formal relationship with the Universidade Nova de Lisboa Faculty of Science and Technology.
NTPE is developing novel technology called Paper-E to print electronic circuits, sensors and semiconductors onto paper. More than 65 researchers are working on the project, and the Group holds a 31.6 per cent stake in the company.
Frontier IP also has a formal relationship with the Universidade de Évora and recently struck a partnership agreement with the British Embassy in Lisbon, which will provide strategic support to the Group.
HM Trade Commissioner for Europe Andrew Mitchell and Christopher Sainty, HM Ambassador to Portugal, presented the award to Frontier IP chief executive officer Neil Crabb at the Ambassador’s residence in Lisbon.
The DIT Business Awards, first launched in 2008, rewards and recognises UK companies who have achieved success in Portugal and the entrepreneurial effort of Portuguese companies which have chosen to invest in the UK.
Other UK companies to win awards included AstraZeneca, Barclays, Colt and Leonardo Helicopters.
HM Ambassador to Portugal Christopher Sainty said: “We are really quite proud to celebrate the business achievements of Frontier IP in Portugal and our modest contributions to their success. Congratulations.”
Frontier IP Group Plc Chief Executive Officer Neil Crabb said: “We are honoured the DIT has recognised Frontier IP’s work in Portugal as we strive to reach our goal to be a leading IP commercialisation partner in the country. The DIT’s support has been invaluable and we look forward to building on our strong relationships with the Department and Portuguese universities.”
