COLLABORATION and sound teamwork has netted North Shields-based Innocore Gaming two awards from the British Venture Capital and Private Equity Association (BVCA).
Following its sale last year to Taiwanese-listed electronics giant Advantech, Innocore has been recognised in two categories of the recently held regional round of the BVCA’s Portfolio Company Awards, as an outstanding example of a venture capital-backed company.
Innocore’s managing director, Edward Price, was awarded both Exit Management Team of the Year and Venture Capital-Backed Management Team of the Year accolades.
This is the second time that Innocore’s success has been acknowledged by the BVCA. In 2009, Price was awarded both the Venture Capital Chief Executive of the Year and Best International Impact awards.
Price has taken the business on a rapid growth curve since a 2007 MBO with sales surging by over 60% to £5.5m in 2009.
The success of the fast-growing electronics gaming company led to it being bought by Advantech for £3.3m.
As well as its North Shields base, it has sites in the US, Netherlands and Taiwan. It was created out of the electronics division of US firm Densitron Technologies.
