Innovation earns kudos for INVENIA
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Hey there, time traveller!
This article was published 23/11/2010 (4389 days ago), so information in it may no longer be current.
INVENIA Technical Computing Corp. has won the best innovative business award from the Canadian Youth Business Foundation (CYBF).
The winners are being announced Monday, a week after the CYBF said it would open a Winnipeg office.
Invenia was co-founded by CEO Matthew Hudson, 27, Cozmin Ududec and David Duvenaud. The latter two are working on their PhDs at the University of Waterloo and Cambridge University, respectively.
The company has developed a self-learning, artificial-intelligence technology platform that can forecast, recognize patterns and solve complex problems.
Its first foray into the market has been to use the platform to develop an Energy Intelligence System that helps electric utilities integrate wind power efficiently into their systems.
Although the 15-employee company was only formed four years ago, its utility customers, including Manitoba Hydro, have already been able to maximize typically unpredictable wind-power generation, which has prevented more than 36,000 tonnes of CO2 emissions, equivalent to removing 5,000 cars from the streets.