Spider Network Systems Catches Venture Fair Honors; Awarded `People's Choice'
Posted on: Thursday, 6 May 2004, 06:00 CDT
SOMERSET, N.J., May 6 /PRNewswire/ -- Spider Network Systems, an industry leader in next-generation, Data Aware, SONET, Multi-Service Provisioning Platform (MSPP) that supports GFP/VCAT/LCAS and GMPLS, has won "People's Choice" at the New Jersey Technology Council's Venture Fair 2004 held on March 29th at the Liberty Science Center. With over 600 attendees, the event showcased technology and life sciences companies that have distinguished themselves in areas of innovation, growth and support for New Jersey and the surrounding area.
"In many ways, the People's Choice award is one of the most competitive honors," commented Maxine Ballen, CEO of NJTC. "Not only must the technology, presentation and management team impress the judges, they also have to win the support of the Venture Fair audience at large."
With over 50 pre-screened companies selected to exhibit at the Venture Fair, Spider Network Systems bested competition from technology and life- sciences exhibitors. Venture capitalists and investors visited the companies at their booths to preview the various products and personally meet the management. Additionally, more than half of the companies had the opportunity to make formal presentations to the Venture Fair audience.
These awards often precede infusion of capital. Several past exhibitors have received funding totaling more than $15 million, including Piscataway- based Polymerix Corp., Conshohocken-based LScan Technologies, Inc., and Hoboken-based Hydroglobe.
"Considering the level of experience and success of the average attendee, we were extremely honored to win this award," said Spider Network Systems Executive Officer Craig Tate. "The Yankee Group has predicted that the MSPP market will reach sales of 10 billion dollars globally by 2007 and Spider Network Systems is well positioned to be a leader in enabling this new technology."
About Spider Network Systems
Established in 2003, Spider Network Systems, Inc. designs, develops, and markets patented, next generation, synchronous optical networking equipment technologies (SONET), Multi-Service Provisioning Platform (MSPP) devices to end users, service providers and equipment manufacturers that meet today's industry standards. The Black Widow(TM) family of products will provide seamless fully integrated data aware, SONET networking elements. Using the latest hardware and software development tools, our products are designed around the most up-to-date technology specifications. Our mission is to be the "Best of Breed," in our respective industry. We will establish Spider Network Systems, Inc. Black Widow(TM) platform as the industry leader, the de facto standard in the SONET, Next Generation, multiplexing equipment environment.
Spider Network Systems, Inc.
CONTACT: Carl Gersh, BeSeen Communications, +1-856-857-0120 x811,carl@beseennow.com, for Spider Network Systems
Web site: http://www.spidernetsys.com/
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