Thursday, 22 October 2009

PosiTim Wins in the European Satellite Navigation Competition

PosiTim is one of the big winners of the 2009 European Satellite Navigation Competition by winning both the regional price of the German state of Hessen and the ESA special price. The winning PosiTim idea is the provision of high-accuracy GNSS solutions and services. The PosiTim proposal convinced the, completely independent, experts of both Hessen and ESA. The award ceremony took place yesterday, Wednesday October 21, 2009, in the beautifull and impressive location of the "Allerheiligenhofkirche of the Munich Residenz".

The picture shows Dr. Tim Springer receiving the ESA special price from Frank Salzgeber head of the ESA technology transfer program (photo from Simone Hörmann).

PosiTim is very proud with the recognition received by winning both the regional price of Hessen, organised by CESAH, and the ESA special price, organised by the ESA Technology Transfer Program. It confirms that our core business idea of providing high-accuracy GNSS solutions and services will be well received on the GNSS market. The PosiTim success in the European Satellite Navigation Competition will give a very positive boost to our business and will help us to make our start-up company successfull!

Follow this link for a German press release from HessenIt.

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Sunday, 4 October 2009

PosiTim Founding in Progress

On October 1, 2009 the founding papers for PosiTim were signed at the Notary office in Darmstadt, Germany. As legal form a so called UG, short for "unternehmergesellschaft" was chosen. This company form is practically identical to the well known GmbH (Gesellschaft mit beschraenkter Haftung). The main difference is that for an UG the starting capital is much lower. This makes the UG comparable to the "Ltd" (Limited) company structure in the UK. This is the main reason it was introduced in Germany. Many people were founding UK based Ltd companies because the starting capital for a GmbH is rather high (EURO 25000).

The official wording of the company is now: PosiTim UG (haftungsbeschraenkt) i.G.

The term "haftungsbeschraenkt" is not part of the abreviation UG contrary to the GmbH abreviation which does include this. Therefore, it is mandatory to include this discription with the name.

The abreviation i.G. means "in Gruendung" which indicates that we are still busy setting up the company and not all the legal steps (hurdles?) have been taken.

Anyway, the first of October 2009 was a big step for PosiTim! We are now truly a start-up company and can and will now start to build up our GNSS business.

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