Axilica wins substantial grant
9th March 2010
IPSO Ventures plc ("IPSO"), the creator of commercial value from technology, is pleased to announce that its investee company, Axilica Limited ("Axilica" or the "Company"), has been awarded a €495,000 grant (the "Grant") by the ENOSYS project.
The ENOSYS project, which commenced in February 2010, forms part of the European Commission's 7th Framework Programme for Research and Development. Its aim is to shorten time to market and to reduce design costs in the development of new electronic products.
The Grant to Axilica will be paid over a three year period and the Company has already received an initial payment of €233,000. This will be used to enhance Axilica's FalconML product and to provide the core synthesis technology that forms part of the ENOSYS design flow.
Axilica is one of only six partners invited to join the ENOSYS project. Other partners include the major commercial telecommunications, defence and multimedia businesses Thales Communications and Intracom Telecom who are entering into FalconML licenses.
Simon Hunt, Executive Chairman of IPSO, said: "Axilica's invitation to join the ENOSYS project reflects the value that these major commercial operators attribute to FalconML and the Company's capabilities. Participation in the project will significantly increase FalconML's commercial reach into new market segments and expedite the Company's access to major European customers."
Suresh Radia, Chief Executive of Axilica, added: "We are delighted to be working with such major partners to develop a state of the art environment for hardware/software co-design. The ENOSYS integrated tool chain addresses key challenges in the development of complex silicon processing platforms and Axilica is delighted to have been selected to provide the core synthesis engine for the project."