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Singular ID Launches Italian Subsidiary
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Singular ID Pte Ltd has announced that it has incorporated its Italian subsidiary Singular ID Italia Srl with an investment from Veneto Nanotech SCPA.
Singular ID was the winning team in the Nanochallenge International Business Plan Competition, held during November 2005.
The prize of €200,000 cash and €100,000 in-kind services will fund the initial operations of Singular ID Italia, enabling it to rapidly build its business from its location in northern Italy.
At incorporation, Veneto Nanotech holds 7.5% of the quotas of the subsidiary, the balance being allotted to Singular ID.
Based in Padua, an historical University city in the Veneto region of Italy, Singular ID Italia will focus on deploying Singular ID’s products and services in the Personal Premium Fashion Goods sector.
"We have already had numerous promising discussions with key industrial players in the region," explains Dr Peter Moran, Chief Technology Officer of the Singular ID Group of companies.
"We can clearly see how we will incorporate our tagging technology into buttons, zippers, apparel labels, fasteners and other accessories that find their way into fashion goods."
"This means we can offer the Principal Fashion Houses an anti-counterfeiting solution that is ready-to-go, without them having to overly concern themselves with the details of the technology."
The day-to-day operations of Singular ID Italia will be run by the newly appointed General Manager, Mr Stefano Gallucci, reporting directly to Dr Adrian Burden, Singular ID’s Group CEO in Singapore.
Mr Gallucci is an experienced entrepreneur and company manager who has built businesses in both the United States and Italy.
Recently, he was Business Development Manager and then Chief Executive Officer of a medium sized Italian public company in the Information Technology sector.
He has also served as General Manager of a large manufacturing company in the clothing and apparel business.
With additional technical knowledge in programming, enterprise resource planning systems, and financial software, Stefano’s background is well suited to promoting and delivering Singular ID’s brand protection solution to the chosen market.
Dr Enzo Sisti has been appointed to the Board of Directors of Singular ID Italia. Dr Sisti has a background in strategic marketing and is currently Investor Relations manager at Veneto Nanotech.
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Previously, he has worked as a marketing consultant in one of the world’s leading professional service organizations.
In this position, he was involved in numerous projects concerning the marketing strategy of some large Italian corporations in the automotive and aerospace sectors.
He has a Ph.D. in Philosophy of Communication from the Department of Philosophy and Theory of Sciences, University of Venice.
"We are very pleased that the winner of our inaugural Nanochallenge business plan competition has now started its operations in the Veneto region of Italy," states Mr Nicola Trevisan, CEO of Veneto Nanotech.
"Our remit is to attract new materials-based nanotechnology businesses to the region and then facilitate the process so that the new company can operate effectively and efficiently from the first day."
"Singular ID Italia’s fit is perfect; it’s a high technology business that offers commercial products that in turn can add value to the goods of local companies."
Dr Burden concludes "This is a really exciting milestone for Singular ID. Despite being a young company, we can now boast global reach right into the heart of one of our key markets."
"Veneto Nanotech brings us excellent value in the form of their extensive network, Stefano brings us diverse experience and knowledge that complements our existing management team, and Padua is a vibrant city from which to do business."
