KTB Ventures, The Ministry of Science & Technology of South Korea and The Korea Economic Daily select INUS Technology as the Number One Technology Venture Company in Korea
Seoul, South Korea (PRWEB) December 19, 2004 -- INUS Technology, the maker of RapidForm 3D scanning software, has received the 2004 Technology Venture Company of the Year" Award from a committee that includes a major investment firm, a leading business newspaper and a government ministry. The award recognizes INUS Technologys exceptional performance in three key categories: technological innovation, financial success, and compelling future vision.
The award was presented by KTB Network, the largest private equity firm in Korea, and the Korea Economic Daily, the countrys leading business publication, and is sponsored by the Ministry of Science & Technology. The Vice Minister of Science & Technology, Seok Sik Choi, remarked at the award ceremony on December 8 that INUS Tech continues to show the strength of Korean technology with its growth and success even though the current economic conditions are difficult." He continued, Korea is famous for semiconductors, mobile phones and electronics worldwide, but 3D scanning software can now also be considered one of Koreas global leadership areas."
INUS Technologys technical leadership is evident in the development of its RapidForm software, a sophisticated 3D scan data processing application. Developed by INUS Technology since 1998, RapidForm is used by companies and institutions around the world to create digital copies of physical objects, as well as verify that manufactured parts match the 3D designs they are based on. RapidForm is the only software of its kind to be certified with Class 1 accuracy from Germanys renowned PTB metrology institute. The popularity of RapidForm makes INUS Technology Koreas number two CAD vendor, second only to Samsung Electronics in worldwide CAD application sales.
The award judges were impressed with the companys financial performance and its bold plans for the future. From its first commercial product release in 2000, INUS has been a profitable company, with 50-100% annual revenue growth since 1998. The judges recognize that the company is expected to achieve more than $10M (USD) in sales of RapidForm software in 2005.
Seockhoon Bae, CEO of INUS Technology, said As we look toward the future, we have an aggressive growth strategy backed by solid performance. Were pleased that the Ministry of Science & Technology, KTB Ventures, and the Korea Economic Daily recognize our strength and saw fit to name INUS Technology Koreas technology venture company of the year."
About INUS Technology, Inc.
INUS Technology develops some of the worlds most advanced 3D scan data processing software. The companys software solutions are the most popular products for reverse engineering and inspection of 3D scan data worldwide. RapidForm makes 3D scanning an extremely powerful tool for a variety of applications and is used in manufacturing, R&D, quality inspection, medical research, civil engineering and more. More than 2,000 organizations including Toyota, Samsung, Ford, Alcoa, Matsushita, Johnson & Johnson, Sandia National Labs, and Stanford Medical School, and Bridgestone use RapidForms advanced technology to innovate throughout their research, design, manufacturing and quality control processes. For more information, and to download free trial versions of any of our products, visit www.rapidform.com
Contact information:
Global Contact:
Kate Lee
INUS Technology
601-20 Yeoksamdong Gangnamgu
Seoul 135-080, Korea
Tel: +82.2.6262.9922
kate@inustech.com
North American Contact:
Tom Charron
INUS Technology
3003 North 1st Street
San Jose, CA 95134
+1.408.232.5443
tomc@inustech.com
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