A ‘First’ in Economics

A north east business has been named as a Grampian Awards for Business Enterprise 2007 finalist, thanks to its innovative learning solution for economics students. Aboyne based Interactyx Limited has seen its LiveEcon product adopted by universities the length and breadth of the UK and as far afield as India and Australia.

Interactyx will discover whether it has been successful in the New Start category at the 7 June awards ceremony, which takes place at Ardoe House Hotel. The awards are organised by Enterprise North East Trust (ENET) and sponsored by The Royal Bank of Scotland (RBS) and Business Gateway (supported by SE Grampian). Winners of each of the five categories will receive a unique handcrafted trophy and a cash prize.

Interactyx's first product, LiveEcon, is an interactive software package that presents what is a typically dry subject, economics, in a fascinating way, and takes users from an introduction, to a full understanding of the subject, chiefly by enabling them to alter the economic assumptions. A variety of learning techniques including tutorials, quizzes, revision notes, an online blog and features for lecturers, make the product useful for a wide range of users. Later this year, Interactyx will launch LiveAccounts, a similar product for accountancy students and lecturers.

Finalists in the New Start category will be judged on criteria that includes their initial business plan, and whether they are delivering on it; their development of the business; and their ability to focus on the customer's needs through effective marketing strategy.

Charles Jordan, Chairman and Founder of Interactyx says: "To be named as a finalist at the Grampian Awards for Business Enterprise 2007 is gratifying. After several years of hard work from the Interactyx team, we recently began trading and are now seeing our efforts galvanised into positive results. Many years of research went into LiveEcon's development. This included market study through product testing on Aberdeen University students that took place starting in 1999.

"The hard work is far from over. Initial business targets have been achieved, but we have ambitious plans for the coming years, including the adoption of LiveEcon as standard in US universities. To achieve this, a US sales force is being recruited to target key universities, starting in June 2007."

Interactyx will compete against Peterhead's Red Island Limited, producer of the Walkodile®, an innovative system for safely walking groups of young children, for the New Start award.

Chris Travis, chief executive of ENET, says: "The New Start Award is a great showcase for north east dynamism and enterprise. This year's finalists display an understanding of innovative ideas, and also have the expertise in areas of marketing and product and staff development to back this up to ensure success.

"Interactyx is potentially a major global player in its field; LiveEcon can be used by the entire English-speaking academic community, and this includes several major economies, particularly in the east. It is local businesses of this calibre that prove, once again, that the north east should be proud of the level of enterprise in its businesses."

Judging for the Grampian Awards for Business Enterprise will take place on 18^th April 2007 and the winners will be announced at a black tie awards ceremony on Thursday 7 June 2007, which takes place at Ardoe House Hotel, by Aberdeen. Simon Woodroffe, founder of the successful YO! Sushi restaurant chain, will be the keynote speaker at the prestigious event. All finalists will receive a certificate with category winners picking up a coveted hand made award and a cheque for up to £5,000.

Winners from last year's awards include Capture Imaging Solutions, Mitchells (of Inverurie) and NovaBiotics.

Tickets for the awards cost £80 per guest (plus VAT) or £800 (plus VAT) for a table of ten. The event begins with a champagne reception at 7pm, with carriages at 12.30am. To book call 01467 672535, email Karen.clark@enetrust.com or complete a booking form online at www.grampianawards.com.

The Business Gateway service in Grampian is delivered on behalf of Scottish Enterprise Grampian by Enterprise North East Trust. For more information telephone 01224 289725 or visit www.bgateway.com.

Ends

Picture caption: (left to right) Julie Mitchell-Mehta, Interactyx marketing manager, Charles Jordon, chairman and publisher and Miles Reid, technical director.

For further information contact:

John McIntosh

Tricker PR

9 Victoria Street

Aberdeen

Tel: 01224 646491

Mobile: 07795 522 011

Email: jmcintosh@trickerpr.com