Last April, CDTI’s board of directors has approved NEOTEC funds to finance Appentra’s business plan. After several months of preparation, Appentra gets funded through this prestigious fund which is only given to technology-based companies that have their own R&D lines as well as a business strategy based on domain intensive scientific and technical knowledge.
The aim of the Appentra’s Neotec project is the development and commercialization of ParallWare. This is a new software product that automatically accelerates simulation calculations in applications with high computational needs that requires frequent changes to improve existing functionalities or to incorporate new ones. The big challenge addressed by Appentra is the automatic parallelization of sequential applications by generating a correct parallel program that produces results equivalent to the sequential program.
Appentra’s R&D strategy is based on adapting and applying its exclusive technology to other types of HPC (High Performance computing) systems widely used in HPC market. The process of evolution of Appentra’s exclusive technology will lead to the design, development and commercialization of new innovative products that meet real needs of HPC market segments.
Thanks to this funding, Appentra will succeed in meeting its strategic objectives in the startup phase of the company. Appentra’s board of directors is fully satisfied with these news as Appentra’s funding strategy is fully supported. Appentra plans to start a first round of external funding in the last quarter of 2013 which would grant access to private capital.
The Centre for Industrial Technological Development (CDTI) is a Public Business Entity of the Ministry of Economy and Competitiveness, which fosters innovation and technological development in spanish companies. It is the entity that channels the funding and support applications for national and international R&D&i projects of Spanish companies. Thus, CDTI seeks to contribute to improving the technological level of the spanish companies by the following means:
- Financing and economic-technical assessment of R&D projects developed by companies.
- Management and fostering of spanish participation in international programmes for technological cooperation.
- Fostering international business technology transfer and supporting services for technological innovation.
- Supporting the setting up and consolidation of technological companies.
Appentra Solutions S.L. is a technology-based spin-off of the University of Coruña established on July 24, 2012. In modern society, the use of computer programs that simulate complex processes of research, design and manufacture of products has been generalized, being in some business areas the only possible alternative to study and understand complex real-world processes. In this context, Appentra mission is to supply to the market new software tools that allow extensive use of techniques of high performance computing (HPC-High Performance Computing-) in all areas of engineering, science and industry. Appentra’s target clients are companies and organizations that run frequently updated compute-intensive applications in markets like aerospace, automotive, civil engineering, biomedicine or chemistry.
Research and development is a strategic value of our company, and innovation is the engine to provide new innovate HPC software solutions that meet the needs and improve the productivity of our clients.