BRATISLAVA, SLOVAKIA--(Marketwired - September 28, 2016) - Intrinsic-ID has been named the overall winner of the European Union's Innovation Radar prize. The EU Innovation Radar celebrates high potential innovators developing digital innovations in research and commercial projects. Intrinsic-ID's Physical Unclonable Functions or PUF technology was recognized as both the overall winner and the winner in the "Excellent Science" category for its scientific achievement and the potential value it represents to the economy and society. Intrinsic-ID's PUF technology enables a unique electronic fingerprint to be extracted from seemingly identical chips by leveraging unavoidable manufacturing variances to create a secure identifier, crucial in today's digital world for establishing secure transactions.
"The Innovation Radar prize highlights breakthrough research that can improve our lives and create economic opportunities," said Aymard de Touzalin, Deputy Head of Unit at the European Commission for Future & Emerging Technologies (FET). "With the increasing importance of information security, it is satisfying to see European research-intensive SMEs such as Intrinsic-ID recognized for being at the forefront of high-tech innovation."
"We are excited to win this prize," said Pim Tuyls, CEO and founder of Intrinsic-ID. "It is a great honor to be acknowledged for developing products based on top scientific research. We are very grateful to the EU for its support in helping us to accelerate development and address new, promising markets like the Internet of Things."
Vincent van der Leest, Director, Business Development, who represented Intrinsic-ID in Bratislava said, "It was an immense challenge to summarise the results of over 10 years of research in 3 minutes to the judges at the event. The fact that we succeeded and took the main prize indicates that security is a real concern for our society and we have the right approach to bring our disruptive innovation to the market."
Pim Tuyls added, "It took a concerted effort from all our staff, partners and friends to gather enough votes for making it to the finals. It was a very stimulating and rewarding experience to receive the votes and compliments from all those parties. I would like to take this opportunity to thank all of those who helped us in this campaign."
Intrinsic-ID is a world leader in the field of Embedded Authentication as a provider of "Physical Unclonable Functions" (PUF). Using our patented PUF technology, secret keys and identifiers are reliably extracted from the physical properties of chips. Much like the electronic equivalent of a human fingerprint the PUF uniquely identifies and authenticates any electronic device. PUFs can be used for secure hardware key management, to establish a hardware root of trust or to protect the electronic supply chains against clones and counterfeits. Intrinsic-ID's security solutions serve a wide range of markets: Embedded systems, IoT, Identification, automotive, communications, content distribution, pay TV, government and defense.
Intrinsic-ID is a spin-off from Philips Electronics. The company is headquartered in Sunnyvale, USA and has its R&D office in Eindhoven, the Netherlands. Learn more at www.intrinsic-id.com, follow us on @IntrinsicID or contact us at firstname.lastname@example.org.