Amadeus wins funding prize in French development competition
Published: ASIA
WORLD: French loudspeaker manufacturer Amadeus has been named as the only audio company out of 228 entrants to win the PM'Up' Ile-de-France competition, a special prize set-up to reward promising companies with funding for future development. The resulting funds – comprising €99,110 – are to be used over three years for supply diversification, international development and equipment and material investments.
Established in 2008 by the Région Île-de-France, the wealthiest of France’s 27 administrative centres and home to the capital city of Paris, PM'Up supports small and medium-sized businesses that exhibit a high potential for growth and job creation. Companies applying for the funding are required to submit an ambitious program for development encompassing new products, export plans and more, with the winning entrants obtaining up to €250,000 plus assistance in implementing their strategy. Winners are selected by a jury of individuals described as ‘intimately involved and knowledgeable’ about each of the business sectors targeted.
Amadeus’ win follows the company’s recent growth within Asia alongside European and domestic success, including projects within France’s National Museum of Natural History, the French Institute for Science about Music and Sound (IRCAM), the National Audiovisual Institute (INA), and the Philharmonie de Paris.
‘Joining the PM'Up network alongside hundreds of high-potential SMBs in the Île-de-France region's ecosystem is a true honour,’ commented Bernard Byk, head of Amadeus. ‘It also provides Amadeus with a wonderful opportunity to benefit from custom assistance and advice, and financial support from the Region Île-de-France. It will allow us to increase our production capacity, invest towards the launch of new products and services, create new jobs, gain new markets abroad and confirm our sustainable growth strategy.’
Antoine Pallud, SMB advisor at the Direction du Développement Economique et de l'Innovation, added: ‘Amadeus embodies the alliance of high technology and traditional know-how. The Region Île-de-France is committed to championing businesses who believe in innovation, values, and job creation. It supports Amadeus in its expansion, most notably abroad, confident that the company will contribute to extending the influence of the region, as well as its economic growth.’