In 2003 SOLVO ranked fourth, while in 2004 third, among Rising Stars’ in Deloitte & Touche’s Technology Fast 50, a prestigious annual award honoring the 50 fastest growing Central European technology companies. In 2005 the company was awarded the Hungarian Innovation Association’s Hungarian Innovation Grand Prize, while in 2006 the Hungarian Venture Capital and Private Equity Association acknowledged the company as the Company of the Year among in SME category. In 2007, SOLVO was listed on the Deloitte Technology Fast 50 CE again, taking the 17th place with a revenue increase of 694 percent.
2003 - Deloitte&Touche Technology Fast 50’s Rising Star - 4th place
2004 - Deloitte&Touche Technology Fast 50’s Rising Star - 3rd place
2005 - Hungarian Innovation Association’s - Hungarian Innovation Grand Prize
2006 - Hungarian Venture Capital and Private Equity Association - Company of the Year
2007 - Deloitte&Touche Technology Fast 50 Central European Annual Award - 17th place
Deloitte Technology Fast 50 Central European Annual Award 2007
The Deloitte Technology Fast 50 Central European annual award honors the fastest growing Central European technology companies, based on revenue growth over a five-year period.
The 2007 winners show exceptional performance. The average five-year revenue growth for all companies was 910 percent. A total of eleven Hungarian companies were included on the Technology Fast 50 list. SOLVO Biotechnology took 17th place with a revenue increase of 694 percent.
This was not the first acknowledgement of SOLVO’s performance. In 2004 SOLVO ranked third among ‘Rising Stars’ in Deloitte & Touche’s Technology Fast 50.
This annual competition is a Deloitte initiative at both regional and global level, which aims to draw attention to fast-growing companies and bring to light companies who are just establishing themselves. Winners of the Technology Fast 50 are eligible for the Deloitte Technology Fast 500 EMEA, which ranks the fastest growing technology companies in Europe, the Middle East and Africa.
Company of the Year 2006
The award is granted annually by the Hungarian Venture Capital Association as a sign of recognition for outstandingly performing Hungarian SMEs, with an open aim of propagating the venture business model. This year much more applications were submitted than in the previous years and many well-known and successful SMEs appeared among the candidates. Previous winners of the award include Graphisoft, Waberer’s and Recognita.
According to the evaluation, SOLVO exemplifies how SMEs can become successful after a venture capital buyout, that is exceptional considering that small biotech companies usually need continuous capital re-injection.
Hungarian Innovation Grand Prize 2005
SOLVO Biotechnology won the Innovation Grand Prize in 2005. The company’s outstanding product reduces the time of drug development research and cuts associated costs.
The official announcement of the winners of the XIII. Hungarian Innovation Grand Prize Competition took place in the Hungarian Parliament on 1 April 2005, where Dr. Ferenc Mádl, President of the Republic of Hungary handed the prize to Mr. Ernő Duda, CEO of SOLVO Biotechnology.
The Hungarian Innovation Grand Prize was founded by the Hungarian Innovation Association in 1991 and is awarded annually to the institution or enterprise whose activities constitute the most profitable and significant innovation realized in the preceding year.
‘Innovative thinking has an important role to play in the economy, competitiveness and the quality of life’, said President Mádl in his opening speech.
Mr. Duda commented on winning the prize, ‘It is remarkable that the winners of the past six years have all been associated with the field of life sciences. This proves that not only has Hungary got great traditions in chemical, biological and life science research but Hungarian companies are also able to develop products of international standards by utilizing these achievements.’
SOLVO was awarded the Grand Prize for the development and successful commercialization of its unique assay systems connected to ABC membrane transport proteins. The importance of this development lies in the fact that it enables the analysis of drug candidate molecules in a wide range of ABC transport proteins without animal tests. This significantly reduces the time of drug development research and cuts the costs of production.
In 2003 the Hungarian Venture Capital Association awarded SOLVO with a special recognition for its outstanding performance and embodying the company spirit of continuous innovation. In 2004 SOLVO ranked third among ‘Rising Stars’ in Deloitte & Touche’s Technology Fast 50, a prestigious annual award honoring the 50 fastest growing Central European technology companies.