Ocular Robotics Wins Engineering Excellence Award

At the prestigious Engineering Excellence Awards 2011 held at the Westin Hotel in Martin Place Sydney in September by Engineers Australia - Sydney Division, Ocular Robotics took out the Engineering Excellence Award for Small Business Ventures. The Small Business Ventures category was open to businesses with up to 100 employees and $20M in turnover. The team at Ocular Robotics are proud to receive this award which was judged by a panel of their peers in recognition of the work that has been done in commercialising the RobotEye technology over the past two years.

The judges made the following comments which can be found in the Winners Booklet in relation to the submission from Ocular Robotics, "The judges were impressed by the lateral thinking applied to break away from the conventional design principles of the market; the technical development and IP protection of the concepts; the identification of several different vertical markets and the development of three distinct marketing mechanisms to serve those markets; and the sophisticated manufacturing initiatives developed to bring this product to market."

The Engineering Excellence Awards recognise excellence across thirteen categories and Ocular Robotics was also a finalist in the Innovation and Inventions category of the awards which went to ResMed another Australian technology company which now has over 3,000 employees around the globe. Other finalists in this category included CSIRO, University of Sydney, Finisar Australia, BrainGauge and NICTA.

The company appreciates the acknowledgement in receiving the award and in the judge's comments, of many of the elements it has put in place to ensure successful commercialisation of its RobotEye technology. These elements including the inherent technical advantages offered by the technology which provide a stark point of differentiation with alternative products, the protection of the company's intellectual property both by patent and other proprietary information, the market opportunity which extends across several high value high growth vertical markets and the business model which provides revenue generating mechanisms that cover the range of business relationships the company will develop, all combine to put Ocular Robotics in a position to take advantage of the potential for very rapid growth in the coming years.