Tag: 2023

Future-proof broadband access technologies gain ground for both fixed and mobile networks across the OECD in 2023

Broadband technologies such as fibre and 5G mobile networks which help “future-proof” networks, continue to grow rapidly to meet the increasing demand for high-quality, affordable and ubiquitous connectivity, the latest OECD broadband data reveals.

Across OECD, fibre connections accounted for 42% of all fixed broadband subscriptions by the end of 2023, compared to 38% a year earlier, while 5G comprised 28% of mobile broadband subscriptions, a 9% increase compared to the end of 2022. Since COVID, total fibre connections in OECD countries have surged by 73%, growing from 122 million in December 2019 to 211 million at year-end 2023.

The countries with the highest share of fibre connections in total fixed broadband are Korea (89.6%), followed by Iceland (89%), Spain (86%), Lithuania (80%), and Japan (79%). Fibre is crucial to future-proof networks that support digital transformation as it offers symmetrical upload and download speeds, scalability and helps support 5G mobile networks.

Transitioning to future-proof broadband access requires the shutdown of legacy copper networks (e.g. DSL). Across the OECD, the share of DSL subscriptions has decreased significantly in four years, from 33% of total fixed broadband subscriptions in 2019 to 20% by the end of 2023.

OECD member countries in Latin America – notably Chile, Colombia, Costa Rica and Mexico – have accelerated their transition to future-proof networks. Over the past four years, these countries have experienced a 258% increase in fibre connections while legacy DSL subscriptions declined by 66%.

OECD Nordic members such as Denmark, Finland, Iceland, Norway and Sweden that initiated this technological shift approximately eight years ago, experienced a growth rate of 36% in fibre and a 77% decline in DSL over the same period (2019-23).

Despite already high penetration rates, mobile broadband subscriptions have also grown, increasing by 19% between 2019 and 2023, reaching 1.86 billion subscriptions by December 2023, up from 1.56 billion four years earlier. Japan and the United States lead in mobile broadband penetration, with 203.5 and 190 subscriptions per 100 inhabitants respectively, followed closely by Estonia and Finland with 176 and 160 subscriptions per 100 inhabitants respectively. This growth is likely due to an increase of 5G deployments across the OECD, which are now present in 37 of 38 OECD countries.

The top end of networks also continues to grow. There is growing demand for high-quality broadband offers across the OECD. In four years, the share of Gigabit (GB) offers has more than tripled, reaching 14% of fixed broadband subscriptions in December 2023, up from 4% at the end of 2019.

This is mirrored for mobile data usage, which is on a steady rise in OECD countries: the average monthly data consumption per mobile broadband subscription increased by 20% in just one year, and more than doubled over the past four years (2019-23), climbing from 6 to 13 GB.

 

Fixed broadband subscriptions are still growing in OECD countries, totaling 496.5 million by December 2023, with an average of 36 subscriptions per 100 inhabitants. This marks an increase of 63 million, or 15% since the end of 2019. France leads in penetration rates with 47 subscriptions per 100 inhabitants, followed closely by Korea (46.6), Switzerland (46.2), and Norway (46).

Fixed wireless access (FWA) is emerging as a connectivity solution in sparsely populated and remote areas due to its lower deployment costs. Although FWA subscriptions account for a modest 5% of the total fixed broadband subscriptions in OECD countries, certain countries had notably high adoption rates by the end of 2023: Czechia at 39%, the Slovak Republic at 23%, New Zealand at 19%, and Estonia at 18%.

Machine-to-machine (M2M) SIM cards are also experiencing again the highest growth rates among all indicators, with a 15% increase in just one year. Sweden and Austria lead in M2M adoption, with 253 and 209 M2M SIM cards per 100 inhabitants, respectively, followed by Iceland (114), the Netherlands (100), and Norway (75). The significant numbers in Sweden and Iceland are largely due to the issuing and registration of M2M SIM cards by national operators for international use.

 

Download broadband data, charts and maps by country.

Revolut’s revenues surpass $2.2bn, with record profits of $545m in 2023

Nik Storonsky, CEO of Revolut said: “This year, we took our biggest steps yet on our mission to deliver the best product and the best customer experience at great value to customers, everywhere. Our customer base is expanding at impressive rates, and our diversified business model continues to fuel exceptional financial performance, delivering revenues of over $2.2bn in 2023 and a record profit before tax of $545m. With a net profit of $428m, 2023 was our third profitable year in a row.

“Every day, our products create value for new customer segments and new global markets. We remain committed to our ongoing UK banking licence application in addition to bringing the Revolut app to new markets and customers around the world. Even as we reached 45 million global retail customers six months into 2024, Revolut remains poised for exponential growth in 2024 and beyond, continuing to redefine the financial services landscape as we’ve known it.”

2023 Performance Highlights 

Strong financial performance amidst wider market challenges (see Figure 1) 

Revolut delivered record profits and revenue growth, while navigating an increasingly complex geopolitical, macro-economic, and regulatory environment. 

– Group revenue increased by 95% from $1.1bn (€1.1bn) in 2022 to $2.2bn (€2.1bn). – Revolut has now been net profitable for three years in a row: 

– Profit before tax was $545m (€503m), and net profit grew to $428m (€395m), up from $7m (€7m) in 2022 

– Net profit margin for the year was 19%, reflecting the inherent efficiency and scalability of Revolut’s business model, improved partner unit costs, and continued growth of high-margin revenue streams. 

Accelerated growth driven by diversified revenue model, expansion into new markets and deepening customer engagement (see Figure 2)

Revolut’s revenue diversification continued to drive sustainable growth with no single product stream or country accounting for more than 30% of total revenue in 2023. – Over the year, Revolut added almost 12m new customers globally, the highest YoY increase in the company’s history, bringing the total to 38m in 2023. 

– 70% of new retail customers joined organically or were referred by someone they know. Word of mouth growth complemented by further investment into marketing and sales functions, including for Revolut Business which was onboarding 20,000 SMEs (small and medium enterprises) each month by the end of the year. 

– This growth was consistent across all revenue streams of Revolut’s diversified business model, with more customers engaging in more its products: – Cards & Interchange: $605m (€559m), up 59% from $379m (€352m); – FX & Wealth: $491m (€454m), up 46% from $334m (€310m); 

– Subscriptions: $303m (€280m), up 53% from $196m (€186.5m); 

– Total customer balances increased from $16.4bn (€15.2bn) to $22.7bn (€21bn). – Due to expanded treasury capabilities, higher customer deposits, alongside the tailwind of increases in central bank rates, and acceleration in the credit portfolio, interest income grew to $621m (€575bn) in 2023 compared to $102m (€95m) in 2022. 

– Customer usage accelerated with transaction volume increasing by 58%, reaching close to $870bn (€804bn). Monthly transactions as of Dec 2023 totalled 590m, up 73%. 

– An increasing number of customers have adopted Revolut’s services through paid subscriptions, with 41% growth in customers opting for a paid plan. 

– As of June 2024, Revolut is the most downloaded app in the Finance category in Europe, ranking first in 17 countries. 

– The company expanded into new markets, including Brazil and New Zealand, bringing its global footprint to 38 countries. 

Investing in best-in-class products and talent to meet consumers and businesses’ financial needs 

With a focus on core banking services in Europe, Revolut doubled down on reinvestment to support future growth, including product development and expansion into new markets. – $300m (€277m) was allocated to advertising and marketing to supplement our organic growth. We also scaled our B2B sales team to over 900 employees by the end of 2023, as we aim to better serve the needs of larger enterprises. Total headcount increased by 38% YoY to 8,152. 

– Revolut also developed new local features across key European markets: – IBAN: The company expanded local IBAN offerings for retail customers in France, Ireland, Spain and Netherlands. 

– Credit: Personal loans were launched in France, Germany, Spain as well as credit cards in Ireland and Spain. 

– Savings & Funds: Money Market Funds was launched across 22 countries in the EEA with balances reaching nearly $1.9bn (€1.7bn) since launch.

2024 outlook (see Figure 3) 

– Continued customer growth: As of June 2024, Revolut has reached 45m customers globally, representing an increase of 7m in the first 6 months of the year. The company is on track to surpass 50m customers by the end of FY24. 

– Expanding products and features: In addition to launching its existing suite of products in more markets, in the first six months of 2024, Revolut has launched: – eSIMs: Allowing customers to buy phone data packages through the Revolut app, signifying our push into non-financial services (available in the UK and select EEA markets). 

– RevPoints: Revolut’s loyalty programme – which enables customers to earn points on everyday spend (available in the UK and select EEA markets). – Revolut Robo-Advisor: A semi-automated tool that uses algorithms to manage investment portfolios, allowing customers to invest in a diversified tailored portfolio without spending hours on research and continuously managing their portfolios (available in the US and EEA). 

– New Global HQ: Revolut announced a deal to move its global HQ to the YY building in Canary Wharf. The move will help facilitate the future growth of Revolut’s UK and global operations. 

Focus on Ireland 

Revolut’s profitability has enabled it to invest in building the best-in-class products that Irish consumers rely on, while its growth is a result of continuing to innovate on its market-leading app. Revolut has gained the trust of more customers in Ireland, becoming their primary bank. 

– Revolut had 2.7m customers in 2023, an increase of more than 21% from the end of 2022, when Revolut ended the year with 2.2m customers. 

– Today, Revolut has fast become the best solution for customers to manage their finances daily. The brand has become a verb in Ireland, with “Revolut me” the typical way to send money between friends and family, or to children. 

– Revolut offers financial products for almost all needs in Ireland, ranging from current accounts, to credit cards, to investing; while mortgages remain firmly in the pipeline. – By the end of 2024, it has set its sights on reaching the 3 million customer mark. – Revolut isn’t just for retail either. At the end of 2023, Revolut had close to 52% more companies in Ireland using Revolut Business than at the end of 2022. 

As a major player in the Irish financial services sector, Revolut boasts many talented leaders who hold senior leadership roles across the bank, steering the company towards becoming the world’s first truly global financial app. Revolut’s ambitions are matched by its customers. 

– Revolut is an employer of choice, and has 10% more staff in 2023 than 2022 and over 23% more in 2024 (YTD) than 2023. It employs more than 175 people here, many of whom hold highly-skilled roles working out of Dublin and remotely across the country. 

– An increase in trust, talent, and ambition has seen Revolut capture the attention of the Irish market. After the launch of its up to 3.49% interest bearing Instant Access Savings accounts, Revolut received deposits in the region of 9-digits in a fortnight.

– Balances are up across the board by more than 50% (2022 vs 2023) and over 26% (2023 vs 2024 YTD), emphasising how its big ambitions are backed by its customers. 

Revolut was recently recognised by financial comparison site Bonkers.ie as ‘Ireland’s Best Consumer Business’ and ‘provider of the Best Current Account’, whilst it ranked 9th as part of the Ireland RepTrak® 2024 study earlier this year. 

The 2023 Annual Report can be viewed online or downloaded in pdf format at: revolut.com/financial-statements/

Half of organisations have suffered a cyberattack or incident that prevented access to data in 2023

Over half (54%) of organizations suffered a cyberattack or incident that prevented access to data last year, according to the 2023 Dell Technologies Global Data Protection Index survey of 1,000 IT decision makers (ITDMs) and 500 IT security decision makers.

Respondents report that IT disruption is commonplace, with the vast majority (90%) saying their organizations experienced some form of IT disruption in 2023. External security breaches were the most cited (40%) cause of data loss and/or systems downtime within organizations. Over half (55%) of those who experienced a cyberattack event said attackers’ first point of entry was external – users clicking on spam or phishing emails and malicious links, compromised user credentials and hacked mobile devices.

Looking to the implications, respondents said that disruptions that include data loss cost on average USD $2.61 million in 2023, accounted for an average of 26 hours of unplanned downtime and resulted in an average of 2.45TB worth of data loss. Costs associated with cyberattacks and related incidents have also doubled, up from USD $0.66 million in 2022 to USD $1.41 million in 2023.

Generative AI and cybersecurity

Generative AI (GenAI) is emerging as a strategic tool for bolstering defences, with 52% of those surveyed saying that integrating GenAI will provide an advantage to their organization’s cybersecurity posture. However, showing the dual nature of GenAI as both a defensive asset and source of complexity, 88% also agreed that the adoption of GenAI will generate large volumes of new data. The same percentage (88%) agreed that GenAI will amplify the value of specific data types.

“The rise of Generative AI and expansion into hybrid, multi cloud environments have put cyber resilience and effective incident recovery front-and-centre for organizations,” said Dermot O’Connell, senior vice president, EMEA Services for Dell Technologies. “Data is crucial in today’s digitally transformed world, making it both a vital resource and a priority target.”

Looking to ransomware attacks, responses suggest an over-confidence surrounding the consequences of a breach. 74% believe that if their organizations experience an attack, they would get all of their data back if they paid the ransom and 66% believe that once they pay the ransom, they won’t be attacked again. The majority (93%) stated that their organizations have ransomware insurance policies but only 28% of those who experienced an attack said their organizations were fully reimbursed through the policy. Survey responses also suggest ransomware policies are heavily caveated. 57% said their organization had to prove ‘best practice’ cyber threat prevention, 43% said their policy limited claim pay-outs and 40% said particular scenarios voided their policy. Read the full research report at Global Data Protection Index Report.

Sample: Survey of 1,000 IT decision makers and 500 IT security decision makers globally commissioned through Vanson Bourne and completed in September and October 2023. Unless otherwise specified, only the results from the 1,000 IT decision makers are referenced when making historical comparisons.

Swoop takes the top spot in the Deloitte 2023 Technology Fast 50 awards

Swoop is the fastest growing technology company in this year’s Deloitte Technology Fast 50 Awards, having risen to first place after placing fourth in last year’s ranking. Swoop is a global platform supporting businesses by bringing their data into one place to garner insights and be instantly matched to eligible finance, as well as assess their spend on cost categories such as energy, banking and FX.

The Deloitte Technology Fast 50 Awards is one of Ireland’s foremost technology award programmes. It is a ranking of the country’s 50 fastest-growing technology companies based on revenue growth over a four-year period, and this year marks 24 years of the programme celebrating innovation and entrepreneurship in Ireland’s indigenous technology sector.

Reacting to the win, Andrea Reynolds, founder and CEO, Swoop said: “Swoop’s triumph in the Deloitte Technology Fast 50 ranking is a testament to our unwavering mission to provide every business access to finance, wherever and whoever they are. This award is not just recognition; it’s a reflection of our team’s relentless spirit and determination to democratise finance. Our incredible growth since 2018 is a marker of our efficient and sustainable approach, with capital efficiency at the heart of all our decisions. Partnering with industry leaders like Sage, Microsoft, NatWest, and Lloyds has fortified our journey. As we celebrate this achievement, our focus remains forward, dedicated to continued growth in 2024 and beyond. Swoop is not just winning awards; we’re pioneering change in the world of business finance.”

Cumulatively, the 2023 Fast 50 winners generated over €3 billion in total annual revenues. The average growth rate of the companies compared to four years ago was 721% and 15 of the 50 ranked companies were first time winners.

The majority of Fast 50 companies have doubled their workforce since 2019, and now employ over 8,800 people across the country. The companies ranked identified finding, hiring and retaining top talent and international expansion as two of the biggest challenges they face trying to grow their company.

Announcing the winners of the Deloitte Technology Fast 50 programme, James Toomey, partner and Fast 50 lead, Deloitte said: “Congratulations to all the companies that ranked this year. The Fast 50 awards are an important and exciting moment for Ireland’s indigenous tech industry to reflect on the growth and challenges they have experienced over the past year. Even though this has been a difficult year for tech companies, there are encouraging indicators in these rankings that show the strength of Ireland’s indigenous sector and that our homegrown talent continues to play an important role in building the future of technology. Supporting this ecosystem is not just an investment in innovation, it’s an investment in our collective progress, and networks like Fast 50 are an ideal opportunity to connect and learn from other companies.

Toomey added, “The majority of the Fast 50 companies have grown their workforce and more than one in five of the companies ranked are new entrants, showing a continued growth in the tech sector and the outreach of Fast 50. M&A is also high on a lot of our Fast 50’s agendas which is supporting them to scale by either taking on investment or acquiring strategic bolt-ons.”

In addition to announcing the ranking of the Fast 50 companies, the Deloitte Technology Fast 50 awards included several award categories. The ‘Rising Star’ award in association with Enterprise Ireland was a new addition, won by Green Rebel, an Irish data company providing site investigation services to the offshore wind sector. It specialises in a full suite of data services from acquisition through processing, interpretation, reporting and delivery across three key divisions: Geophysical, Aerial Ecology and MetOcean.

The winners of the awards this year were:

  • Growing New Technology Award in association with Google

Winner: Brightflag

This award recognises a company that has created or introduced a new or innovative product or service to international markets, which helped grow their business over the last four years.

 

  • Impact Award in association with Meta

Winner: XOCEAN

This award recognises a company that has made a significant impact within the current year.

 

  • Scale up award in association with Scale Ireland 

Winner: Siren

This award recognises a company that has demonstrated an impressive ability to scale up/expand overseas over the last four years.

 

  • Advocate for Women in Technology 

Winner: Laura Haldane, Co-Founder and VP of Sales and Marketing, SciLeads

This award recognises an individual who has demonstrated through their actions that they are an advocate for increasing participation by the promotion of women in the technology sector.

 

  • Rising Star Award in association with Enterprise Ireland 

Winner: Green Rebel

This award is given to a company who demonstrates a promising growth trajectory and the potential for inclusion in the Fast 50 rankings in years to come. Companies being considered for this award have operating revenues accounting for a minimum of two years and less than four years.

 

  • Financial Services Innovation Award in association with Financial Services Ireland 

Winner: ID-Pal

This award recognises a company with an innovative product or services that is having a disruptive impact within the financial services industry.

 

  • Alumni Award 

Winner: Fenergo

This honorary award recognises a company that has played a major part in the Fast 50 Programme to date.

 

The Deloitte Technology Fast 50 ranking features both private and public listed technology companies that have demonstrated innovative strategies, sound management practices and marketplace vision, driving them to achieve the status of high-growth leaders. Full details on the winners can be found at www.fast50.ie.

Revolut teams up with RTÉ’s Toy Show Appeal for the third year in a row

Revolut, the global financial app with more than 2.5 million customers in Ireland, has teamed up with RTÉ’s Toy Show Appeal for the third year to enable viewers to donate instantly from their Revolut app. Last year, through the goodwill of the people in Ireland, the appeal raised €4 million for The Community Foundation Ireland, helping children and family members across the island.

In 2022, The Late Late Toy Show was RTÉ’s most-watched TV programme, with 1.6 million viewers. It was viewed in 139 countries around the world – including  Bolivia, Jamaica, Qatar, and Ukraine.

The partnership with Revolut began in 2021 when the extraordinary generosity of people in Ireland rushing to support the appeal led to technical difficulties with the Revolut app. After fixing them, Revolut co-founder Vlad Yatsenko announced he had made a €100,000 personal donation to the appeal: and he pledged to personally match any further donations made over the weekend via the Revolut app – up to €1m. Led by appeals from stars including Olympic champion Kellie Harrington, the Irish public donated a further €750,000: Vlad then gave the full €1m, taking the overall total raised via Revolut to €3.3m.

However, Revolut successfully fortified its Donations system last year, and encouraged the people of Ireland to continue their generosity to support the incredible work by Community Foundation Ireland, helping children who need it.

On Friday 24th November 2023, The Late Late Toy Show is back. This year, as Revolut has teamed up with the appeal again to welcome proceeds through Donations in the Revolut app which will go live on the night.

Vlad Yatsenko, Revolut co-founder, said, “We’re deeply honoured to once again support Ireland’s single biggest fundraising event for children: RTÉ’s Toy Show Appeal. More than 2.5 million people in Ireland now have a Revolut account, so we’re delighted to enable customers to donate to the appeal instantly from their Revolut app.”

“At Revolut, we have seen first-hand the power of digital donations as they have become an increasingly important tool for charities to raise funds and support their causes. As with all our charity appeals, we guarantee that every cent donated will go to the charity – with no fees or charges.”

Ready to donate? Here’s how:
 Make sure you’ve got the latest version of the app (Revolut 10)
 Search ‘Donations’
 Find the RTÉ Toy Show Appeal
 Choose how much you want to give and tap ‘Donate’
 Spread the word on social media for maximum impact!

Jabra Early Black Friday Deals

Whether you’re working out to your favourite soundtrack or joining a work call, Jabra’s Elite range of earbuds has you covered. Jabra products are widely available in Ireland and the UK from stores such as Argos, Currys, John Lewis, Very and Harvey Norman so there is no shortage of stores to pick from and get a super pair of earbuds which are now discounted. 

Jabra Elite 5 

The all-rounder for music and calls. Check out our review 

Jabra Elite 3 

Exclusive to Argos in the UK and Harvey Norman in Ireland, these earbuds just got even more affordable.  Check out our review 

Jabra Elite 4

From Jabra with retailers Currys, Argos, John Lewis, Very.co.uk and Harvey Norman in Ireland. See our review 

 

You can  also look out for deals on the following:  

  • Jabra Elite 4 – Affordable earbuds for work and play –  See our review 
  • Jabra Elite 4 Active – Every-day earbuds, great for workouts and active lifestyles –  See our review 
  • Jabra Elite 8 Active – A new standard for durability and fit, these will stay put, even during the toughest workouts. Review soon

Excellence In Technology Recognised At Leaders Awards 2023

Frank Madden, Founder & CEO, Crest Solution has been named Tech Person of the Year at the 2023 Tech Industry Alliance Awards. The prestigious awards ceremony recognises individuals and organisations which are striving to drive innovative leadership, excellence and overall positive impact in our business ecosystem in the South-West. The event attracted over 120 nominations and entrants this year. 

Speaking about the Tech Industry Person of the Year Award, Gerry Murphy, Chairperson Tech Industry Alliance said: “For over 25 years, Frank Madden has been building an enormous success story with Crest Solutions, now known as Catalyx. His outstanding contributions to the field of manufacturing operations and technology innovation has transformed the landscape of the Life Sciences and high-end manufacturing industries. With an unwavering commitment to advancing technology in manufacturing, exceptional leadership, an ability to forge successful collaborations as well as being dedicated to helping the next generation of entrepreneurs in our region, Frank is a most deserving recipient of the Tech Person of the Year award” 

Other award winners at the black-tie gala Awards Ceremony Cloudera, CergenX, Everseen, Solarwinds and Skillbase. Cork ETB and Kerry ETB received the Chairperson’s award for their exceptional contribution to skills and talent development in the region. McEgan College which received the Excellence in Education Award were presented with a cheque for €5,000 to further promote STEM activities within their school.

Commenting at the event, Minister for Finance, Michael McGrath TD said:  “The Tech Industry Awards are a tribute to exceptional organisations and individuals within the South-West’s business and tech ecosystem. The extraordinary quality of finalists reflects the enormous capabilities, innovation and talent flourishing Cork and Kerry . I want to congratulate tonight’s winners but also all the finalists and nominated organisations who are dedicated to excelling and driving positive impact in the diverse markets and communities they operate. I also commend the Tech Industry Alliance for its invaluable role in fostering connections and nurturing a supportive environment, empowering companies to thrive, prosper and succeed both here and on a global stage” 

KerrySciTech Chairperson, Manjit Gill, also commented: “Since joining forces to become Tech Industry Alliance, our membership has gone from strength to strength and the businesses and organisations we serve are benefitting hugely from the knowledge sharing, connections and immense support that our combined network provides. The winners and finalists tonight are testament to this as they demonstrate the exceptionally high standard of excellence within the technology sector across Cork and Kerry which together are elevating the region’s status as a location of choice for companies, talent and investment”.

Full list of winners:

  • Tech Person of the Year Award -:  Frank Madden, Founder & CEO, Crest Solutions
  • Tech Start Up of the Year Award – CergenX 
  • Scale Up of the Year Award – Everseen
  • Multinational of the Year Award –Cloudera
  • Tech Industry Alliance  Skillnet Best Learning Workplace Winner – Solarwinds  
  • Smart Technology Innovation Award – Skillsbase  
  • Diversity, Inclusion and Social Impact Award – Cloudera
  • Chairperson’s Award – Kerry ETB & Cork ETB
  • Excellence in Education Award – McEgan College  

Sponsors for this year’s Leaders Awards include:  Tech Industry Alliance Skillnet, Trend Micro, KPMG, Enterprise Ireland,  Grant Thornton,  Barden, Deloitte, Cork Smart Gateway, Cork County Council, Cork City Council, MTU, REEdI, Fuzion Communications and Kinsale Spirit Company. 

For over 16 years, the Leaders Awards have recognised those who have excelled in the technology sector in the South-West region of Ireland, from notable multinationals and disruptive start-ups to ground-breaking individuals and emerging companies. Find out more on www.techindustryalliance.ie  

Information on Winners

Winner Smart Technology Innovation Award: Skillsbase  

Skillsbase is a solutions provider for companies with high-complexity problems, specialising in Mobile-first solutions using AI and AR. Skillsbase gave the judges a very compelling presentation about the company, the technologies they are using and have developed covering Artificial Intelligence, Augmented Reality, Cloud and mobile app, electronics, etc. And all done with a small team in Cork. 

Winner of the Start Up of the Year Award:  CergenX  CergenX leverages recent advances in AI to help identify newborns at risk of brain injury. The judges agreed that Cergenx is a truly world class startup with all the ingredients to deliver on their mission. A UCC Spin out after years of research in the INFANT Center led by Dr Geraldine Boylan, CergenX aims to use artificial intelligence to identify newborn infants that are most at risk of brain injury, a purpose that the 14 strong team in Cergenx are very passionate about. The panel were impressed with the strength and depth of the executive team who have founded, scaled and exited from previous startups, and will bring that experience into Cergenx.

Winner of the Excellence in Education Award:   McEgan College  

McEgan College is a co-educational school providing a broad curriculum to both girls and boys. The judges were truly impressed by McEgan’s whole school approach to the design, development and rollout of their ICT and digital strategy. Their student centric focus pivots their ICT Strategy, adapting to student needs and maximising resources. Their ambitious yet practical longer term ICT vision is tightly connected into and across the curriculum fostering a school culture of learning, development and innovation. 

Winner – Chairperson Award: Kerry ETB and Cork ETB

With the rapid pace at which skills needs for the tech sector evolves, the learning models that allow our tech companies to access skills and develop our people are essential for the sustainable growth of our industry. Our region’s Education and Training Boards, Kerry ETB and Cork ETB are not only committed to delivering innovative and high quality education and training programmes but they have also been hugely flexible and progressive in their engagement with our industry and our upskilling and reskilling needs. Their positive influence and impact on the region’s skills landscape is nothing short of remarkable. A warm congratulations to the entire ETB community across Cork and Kerry on being this year’s receipients of the Tech Industry Chairperson’s Award” 

Winner of the Tech Scale Up Award: Everseen 

Everseen is  a computer vision AI technology company trusted by over half of the world’s top 15 retailers. Everseen has already demonstrated its ability to scale, with consistent year-on-year revenue growth, expansive international client-base, highly scalable platform and roadmap, strong proven leadership team and the vision and, with a recent €65M funding round, have the resources to build an Irish HQed multinational.

Winner of the Diversity, Inclusion & Social Impact Award:  Cloudera  

Cloudera delivers an enterprise data cloud for any data, from the Edge to AI and advance digital transformation. Cloudera provided the judges with an impressive all round presentation, touching on all areas of diversity, inclusion and social impact.  The judges agreed that they live and breathe this category. 

Winner of the Best Learning Work Place Award: Solarwinds  Solarwinds is a leading provider of simple, powerful, secure observability and IT management software. This accolade is a testament to Solarwinds’ dedication to fostering a positive and innovative learning environment, setting an inspiring example for others in the industry. Solarwinds’ holistic learning initiatives, tailored training programs, and cutting-edge resources such as their mentoring platform and competency role mapping empower employees at every level to expand their skills and knowledge. Through a strategic combination of learning technologies and a supportive environment, they have not only enhanced individual career trajectories but also cultivated a collaborative workforce that encourages continuous growth and development aligned with inclusion, belonging and wellbeing.

Winner of the Environmental Sustainability Award: Logitech  

Logitech designs products that bring people together through gaming, video, digital content, work and learning. Logitech stood out for a few reasons but mainly for its consistent and mature approach to sustainability throughout the organisation and its supply chain. The efforts to reduce carbon and use of virgin materials in its production process is not new and have been underway for many years. The standards and accreditations they have pursued and achieved are remarkable, and the global impact of their efforts is also notable. 

Winner of the Multinational of the Year Award:   Cloudera  

Cloudera – a company that empowers people to transform complex data into clear and actionable insights. Cloudera has demonstrated strong commitment to the South West, growing by 205% in just 3 years, with solid plans to expand even further in the future. They demonstrate incredible investment into their people through mentorship, internship, internal promotion programs and Unplug days. Cloudera are leading the way in diversity with a 48:52 Female:Male ratio and 20 countries represented. Finally, their contribution to the local community is very impressive. Cloudera ESAT scores are very strong, and it is clear to see why.

Winner Tech Person of the Year Award : Frank Madden

Frank Madden unquestionably deserves the Tech Person of the Year award for his outstanding contributions to the field of Manufacturing Operations and technology innovation. With a rich background in electronic engineering, as well as a Post Graduate in Innovation and Design Thinking, he honed his skills and knowledge. Before founding Crest Solutions, Frank played a pivotal role in Apple Inc’s manufacturing operations in Ireland, showcasing his expertise on an international scale.

As the founder and CEO of Crest Solutions, Frank has consistently delivered multi-national and multi-site compliant projects that leverage cutting-edge technologies such as Machine Vision, Serialization, Industry 4.0, and Resourcing Solutions. His dedication to innovation has transformed the landscape of Life Sciences and high-end manufacturing. In 2020, Frank’s visionary leadership led to the formation of CXV Global Ltd, a groundbreaking collaboration with long-term partner companies, further expanding their global reach.  Growing strongly through the years NOW Catalyx, merging Crest Solutions with Xyntek, Vistalink, and Panacea Technologies, is on the road to a global Irish HQed multinational tech company.

Frank’s remarkable achievements have not gone unnoticed, as evidenced by numerous awards and accolades, including being a finalist in the Ernst and Young Entrepreneur of the Year Awards in 2015 and Crest Solutions winning both the Cork Chamber Large Company of the Year award and the Deloitte Best Managed Company award in 2020. Frank Madden’s unwavering commitment to advancing technology in manufacturing, his exceptional leadership, and his ability to forge successful collaborations make him a deserving recipient of the Tech Person of the Year award, solidifying his place as a true tech industry visionary.

Jabra’s Study at the LSE Behavioural Lab Highlights Critical Role of Technology in Boosting Collaboration in Meetings

Globally, there are over 572 million knowledge workers*, and each week, billions of hours are spent in online meetings. Yet many of these meetings are held in settings that are not at all supportive for collaboration or productivity. In Jabra’s recent Hybrid Ways of Working 2023 Global Report, only 15% of employees say that all of their office’s meeting rooms are equipped with video cameras for online meetings, and around 60% of knowledge workers still rely on built-in laptop cameras and microphones. This begs the question: how much is the technology we’re using impacting our behaviour in meetings and our ability to collaborate effectively?

Answering that question has taken over a year of work by Jabra using state-of-the-art facilities to study human behaviour in a controlled environment at the Behavioural Lab at The London School of Economics and Political Science (LSE). The study, ‘Meeting Great Expectations: Behaviour, Emotion and Trust’, sought to understand the biopsychological impacts of the technology we use in our day-to-day work, and how it affects collaboration and inclusion in meetings.

Professional meeting technology is key to meeting equity

Meeting experiences are holistic and need to factor in all participants. When we first made the shift to remote work during the pandemic, most organisations provided employees with headsets and webcams for online meetings. However, the quality of this technology varied and was oftentimes inadequate. In fact, only 19% of knowledge workers** are using a personal, professional webcam.

Looking into how technology impacts the quality each person can access a meeting, and how much an equal playing field impacted everyone’s overall collaboration perceptions, the study observed significant improvements when everyone in a meeting uses professional Jabra equipment, when compared to using the nearest competitor’s video bar or built-in laptop audio and video. There was a 27% increase in clarity, 16% more trust, 35% greater expressiveness, and a 47% perceived improvement in the quality of input.

Additionally, remote workers often face the greatest challenges with technology in hybrid meetings. When armed with professional headsets and cameras, the research saw overall call clarity improved by 18% among remote workers, while meeting room participants also rated remote users 32% higher in terms of expressiveness. Meeting room participants also showed nearly twice (84%) the perceived level of engagement when comparing hybrid workers using professional equipment with those on laptop with built-in hardware. Furthermore, remote participants also trusted others joining remotely 22% more when using professional technology. These findings highlighted the increased levels to which remote workers can show up and contribute to hybrid meetings, and the advantages technology can provide them.

Meeting room equipment directly improves remote users meeting experience

We’ve all been in that situation where we join a meeting remotely while everyone else is in the office. It can be frustrating – you might struggle to hear what’s being said, not be able to see everyone in the room, and sometimes feel overlooked. But what if having the right tools could make you feel more present and included?

The study found that when people used professional technology both in the meeting room and remotely, those joining remotely reported a 56% improvement in the quality of conference room contributions. While nothing can quite replace face-to-face interaction, the second-highest ratings for collaboration, right after in-person meetings, came from remote participants rating conference room users equipped with professional video gear.

These findings highlight that technology can bridge the gap between meeting participants separated by physical distance. In summary, it’s clear that high-quality in-room technology significantly enhances the experience for remote participants. Any business aiming for inclusive meetings should prioritise updating their meeting spaces to support fair collaboration.

Holger Reisinger, SVP at Jabra said, “High-quality technology has a profound impact on the effectiveness of remote collaboration. Our research demonstrates that when businesses invest in professional equipment for both in-room and remote participants, they can achieve remarkable improvements. These findings underscore the pivotal role of technology in optimising meeting experiences and fostering successful hybrid collaboration.”

Dr Simon Noyce, British Chartered Psychologist, Lead Project Researcher said, “In today’s world of hybrid meetings, bridging the gap between in-person and remote collaboration has never been more important. Our aim is to encourage businesses to harness this technology to enable meaningful interactions that come as close as possible to the richness of face-to-face engagement.”

Download a copy of the full report here: jabra.com/lse

*Jabra’s Global Knowledge Worker Survey, 2023

**Jabra U&A Collaboration Study, 2022

Top Ways To Manage Your Fleet In 2023

For a business that has a fleet of vehicles, you will find that looking after that fleet is always going to be a major thing that you need to spend time and money on. If you can care for the vehicles, for the people driving the vehicles, and generally for the whole operation, it is going to keep your finances in check, your people happy, and the operation so much more smooth-flowing. So what are some of the things that you might need to do in order to make sure of that?

Let’s take a look now at some of the top ways that you might want to manage your fleet in 2023. As long as you are doing the following, you should find that your fleet is being cared for as it should, to the benefit of the vehicles themselves, but also the staff and your business as a whole too.

Buy Good Quality Vehicles

It all starts with the quality of the vehicles themselves. If you are providing your staff with good quality vehicles in the first place, you are invariably going to find that this leads to a much better chance of those vehicles being taken care of, and that is going to be the main thing that you want to make sure of here. They will last longer, drive better, and that will also improve the morale of your staff. There is also the fact that you will find yourself spending less on the vehicles in the long run for maintenance and care, so it’s actually financially viable to buy good quality vehicles upfront.

So make sure that you are buying the best vehicles you can afford at the start of the business, or whenever you are adding a vehicle to the fleet or replacing one. That is a really simple thing you can do to make the management of the fleet so much easier and more affordable too.

Service Them

Once you have your vehicles, you then need to make sure that you are caring for them, and the main way to do that is to take them for a service every now and then. All vehicles will have their service schedule that you will want to follow, but generally it’s sufficient if you take them every 50,000 miles or so. That is going to ensure that the vehicle will run into many fewer problems over its lifetime. Again, that means it costs you less overall, but it also ensures that the vehicle is going to be nicer to drive and easier to run.

An important point with servicing is that you should have it carried out by an expert with that particular brand of car, wherever possible. They will be able to give it exactly what it needs, while also ensuring that they can find the necessary parts wherever that might be necessary too. So it’s definitely wise to do that. Soon enough you will discover a local expert whom you can then use for each service that you need done.

Watch Out For Common Faults

All vehicles have a number of faults which are likely to happen at some point or another, and this is something that you are going to need to think about for sure. It’s basically something you need to watch out for, as you will want to ensure that these faults are dealt with swiftly so as to avoid them costing you more further down the line. As long as you can do that, it’s going to mean that managing your fleet is generally a lot simpler and easier to do on the whole too.

To help with this, it’s best to enlist the help of your drivers. You should be training them to watch out for many of the common signs that are going to crop up with a fleet of vehicles. They should have daily checks that you expect them to carry out each day, and as long as you have done that, it’s going to mean that they are much more likely to know when something has gone wrong.

This is a vital way to keep on top of the health of the vehicles, so it’s something that you will definitely want to prioritize as best as you can.

Managing Expenses

There are a number of expenses that you will need to manage well when you have a fleet of vehicles, and we have already discussed some of the things you might want to do in order to make sure you’re keeping expenses as low as possible. However, it’s also something that is worth thinking about in its own right, as there are a few things that you might want to consider in particular.

For instance, you might find that it is easier to keep track of fuel and other expenses if you issue your drivers with a virtual card for fuel and field expenses. They are probably also going to appreciate this, as it is a much more hassle-free way of buying fuel and whatever else the vehicle needs. You can keep one of those cards in each vehicle, and you’ll probably find that this is going to make it so much easier.

Beyond that, you should also ensure that you are doing everything you can to keep the fuel usage as low as possible. That mostly comes down to choosing a good route, and this is the kind of thing that you are going to want to think about for sure. Good logistics turns out to be important in so many ways, not least the fact that it saves on fuel, time and therefore money. Make sure that you are not overlooking this vital thing and it should help a lot.

Those are the main ways to ensure you are managing your fleet well in 2023, so as long as you are doing those, you should find that it really makes a huge difference.