M-Dot Network Wins Amazon Web Services Global Start-Up Challenge
M-Dot Network is a retail technology company that provides retailers with an enterprise platform to manage their digital coupons and incentives via “The Cloud.”
(Vocus/PRWEB) January 20, 2011
M-Dot Network is the winner of the fourth annual Amazon Web Services Start-Up Challenge. The global competition received more than 1,500 applications from 22 countries across North America, Asia Pacific and Europe. M-Dot Network was awarded $50,000 in cash and $50,000 in Amazon Web Services (AWS) service credits at the final event in Palo Alto, California.
M-Dot Network competed against technology companies from England, India, California and Massachusetts. During the final round of judging, seven finalists presented their businesses to representatives from AWS and leading venture capital firms. M-Dot Network was selected based on its implementation of AWS solutions, originality and creativity, likelihood of long-term success and how well the business addresses a need in the marketplace.
M-Dot Network´s high-speed transaction network provides real-time connectivity between Internet and mobile based technologies to in-store retail point of sale systems for the purpose of enabling immediate redemption of digital coupons and incentives. “We are honored and excited to win the AWS Start-Up Challenge,” said Mike Kavis, CTO, M-Dot Network. “Two years ago, we set out on a bootstrap budget to enable consumers to store digital coupons and incentives online and then conveniently redeem them at physical retail locations through seamless connection with point of sale systems. We always like to tell the story about how we created a full service demo on AWS for only $86. By building our business on AWS, we can process one million concurrent transactions in a tenth of a second without ever having to buy or lease a physical datacenter, purchase hardware or hire dedicated datacenter staff.”
At the event, each finalist presented their ideas to a panel of judges with representatives from AWS. The finalists also had the opportunity to present their business to venture capitalists during “lightning round” sessions. At the end of the day, the judges selected the winner and announced the results at the evening awards ceremony. After accepting their award, the M-Dot Network team was presented with the coveted “Golden Hammer,” and then partook in the annual AWS Start-Up Challenge ritual of demolishing a real server, symbolizing how companies no longer need to own servers when they operate in the cloud.
About M-Dot Network
M-Dot Network, a retail technology company, provides retailers with a patent-pending enterprise platform to manage their digital coupons and incentives. The M-Dot Network connects retailers, digital coupon issuers and shoppers, eliminating paper coupons, speeding up check-out lanes, expediting the reimbursement of coupons to retailers and reducing coupon fraud. M-Dot’s digital transaction network provides real-time connectivity between Internet and mobile based technologies to in-store point of sale systems for the purpose of enabling real-time redemption of digital coupons and incentives.
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