Creative gets 'most backable' status
- — 12 July, 2000 17:17
The company, which won several gongs at this year's Internet World 2000 conference, yesterday took out first prize in the 2000 Compuware-AIIA Australian Software Showcase's "most backable business plan" competition.
After receiving the award, Bahram Boutorabi, CDT's chief executive officer and technology officer, joked: "We're Australia's most awarded company."
The competition was run by Macquarie Technology Investment Banking (MTIB) as part of the day-long showcase.
Bob Mounic, senior advisor to MTIB and a judge of the competition, said CBT was a "profitable, well-structured business . . . with good market results". CDT's business plan presented a strong strategic alliance plan and an "extremely good" customer base, he said. "We think they are ready to really take off."
Founded in 1992, CDT provides technology for web development; the organisation has several e-commerce products mainly targeted at the retailing industry.
"To be profitable and fund research and still have a client base has been crucial," Boutorabi said of CDT's success.
Yesterday's award was based on the company's Visual Agent Studio product, which allows users to develop intelligent agents for web content management, interface creation and e-procurement. The product was announced last month.
According to Boutorabi, CDT is in the process of finalising agreements on how to take the product to market. "We're getting into strategic alliance mode," he said.
As part of its prize, CDT won $5000 in cash, an hour-long pitch to the Macquarie Technology Fund, a detailed review, analysis and critique of the business plan, a post mortem of the pitch, and an economy United Airlines airfare to San Francisco.
Other judges on the panel included Geoff Bowker, Software Engineering Australia's NSW chief executive, Tony Benson, Software Engineering Australia's chairman, and Tristan McMichael, Macquarie Bank's MTIB manager.