Kudos for AQSolutions

05/21/2002

Walter Kita, Register Staff

NEW HAVEN – AQSolutions, a city-based information technology company that over the last year has raised more then $1 million from investors, was among the big winners at last week’s Crossroads Venture Fair.

AQSolutions received the equivalent of a “best in show” award among companies in the fair’s “Quantum” division. Companies in that category have either raised $1 million in venture capital, or have reached profitability, or are on the verges of profitability.

More than 60 companies were represented at the two-day fair, the region’s premiere showcase for high technology companies.

Officials with AQSolutions are touting the victory has further proof of the strength of the company’s business plan and quality of its management team.

“It’s important for investors to know they’re putting their money in a solid company,” said Brian Firstbrook, director of sales at AQSolutions. “This win publicly affirms what we have believed about our company since the beginning.” AQSolutions is a computer technology “out-sourcing” company that matches up U.S. businesses with computer programmers, Web designers and information technology specialists in Ghana. The workers in Ghana receive an hourly wage significantly below that of their U.S. counterparts.

In addition to saving money, the U.S. companies get a 24-hour labor pool, because of the time differential between the United States and Ghana, sad Firstbrook.

Awo Quaison-Sackey, a native of Ghana, launched the company two years ago. She is running for the Entrepreneur of the Year Award for the Greater New Haven-Hartford area.

The contest is sponsored by the accounting and auditing firm of Ernst & Young.

“I expect the results will be announced in a week or so,” said Quaison-Sackey. “I feel very honored to be nominated.” Other companies to win recognition at the Crossroads Venture Fair are Stamford-based River Run Software, a wireless technology manufacturer, and Electro Energy, Inc., of Danbury, which is seeking to develop a high-powered battery for electric tools and military applications.

Crossroads Venture Fair Chairman Frank Marco called the event, which for the second straight was held in New Haven, a success, despite the sluggish economy.

“Even in this economy we attract quality venture capital firms and companies seeking capital,” said Marco, managing partner of the New Haven branch office of the Mintz, Levin law firm.