The World Economic Forum Names ObjectVideo a Technology Pioneer for 2005

The World Economic Forum has announced that ObjectVideo, the leader in intelligent video surveillance software, has been selected as one of 29 Technology Pioneers for 2005.

Companies selected as Technology Pioneers are developing and applying the most innovative and transformational technologies. This year's class of companies are at the forefront of cutting-edge work in fields such as nanotechnology, drug development, renewable energy and wireless technology. Their work has the potential to significantly impact the way business and society operates.

In line with the Forum's commitment to improving the state of the world, the Technology Pioneers program was established in 2000 to provide a new perspective on technological change. The program is run by the World Economic Forum with Apax Partners and Deloitte Touche Tohmatsu as Strategic Partners. Through its Technology Pioneers program, the Forum identifies and integrates those companies around the world that are involved in the design and development of new technologies. Each innovation, whether it has large or small consequences, is another step in society's attempt to harness, adapt and utilize technology to change and improve our world. The World Economic Forum is invested in monitoring and highlighting these innovations and exploring possible societal repercussions.

"The World Economic Forum has long been a renowned organization that brings thought leaders together from across the globe," said Raul J. Fernandez, CEO of ObjectVideo. "We're extremely honored to be selected."

ObjectVideo provides intelligent video surveillance software for the protection of critical infrastructure and high-risk environments. Its software processes video from surveillance cameras and automatically detects, classifies and analyzes threats. Customers using ObjectVideo's software to proactively improve security operations include the Department of Homeland Security's Customs and Border Protection Bureau, the Department of Defense, the U.S. Air Force, Port of Jacksonville, Port Everglades, Miami International and Reagan National airports, and a wide variety of private sector businesses.

Each year members, constituents and collaborators of the World Economic Forum nominate Technology Pioneers. The criteria for selection include:

- Innovation. The company's technology must be truly innovative. A new version or repackaging of an already well-accepted technological solution does not qualify as an innovation. The innovation should be recent - not more than two years old. The company should invest significantly in R&D.

- Potential Impact. This company's technology must have the potential to have a substantial long-term impact on business and society in the future.

- Growth and Sustainability. The company should have all the signs of a long-term market leader and should have well-formulated plans for future development and growth.

- Proof of Concept. The company must have a product on the market or have proven practical applications of the technology. Companies in "stealth" mode and companies with untested ideas or models will not qualify.

- Leadership. The company must have visionary leadership that plays a critical role in driving the company towards reaching its goals.

- Status. The company must not currently be a Member of the World Economic Forum. This criterion applies to the parent company - thus wholly-owned subsidiaries of large firms are not eligible.

Nominees are evaluated by an external review committee comprised of technology experts with respect to the criteria above.

ObjectVideo has recently been awarded research and development grants to expand the capabilities of intelligent video surveillance from the Defense Advanced Research Projects Agency (DARPA) and the National Science Foundation (NSF). The company continues to garner coverage from media including Time magazine, The History Channel, The Washington Post and Investor's Business Daily.

The uniqueness of the Technology Pioneer network ensures that companies involved in the development of new technologies are engaged in an integrated and interdisciplinary way. The Technology Pioneers community will provide the Foundation and its members with in-depth knowledge of some of the key technology issues facing society.

The program is run by the World Economic Forum with guidance from Apax Partners and Deloitte Touche Tohmatsu.