Mirifice
(L to R) Mirifice founders Paul Tinkler, Alex Dick and Niall Buckingham with Julian Dennard, Investment Manager at YFM Group
Less than three years after starting their company, Bath-based software consultants Mirifice Ltd have won major contracts with leading US companies Scientific Atlanta, a Cisco company, and OpenTV. These new contracts build upon existing business closer to home with major European companies such as Tandberg and Virgin Media.
Mirifice helps leading cable, satellite and IPTV companies increase their market share through technology consultancy. Mirifice’s flagship product MirimonTM provides the broadcaster with a picture of the customer's experience that they deliver. The embedded software identifies weaknesses and opportunities in digital TV services enabling the provider to improve customer retention, network performance and increase revenue.
Aware of a gap in the market, the technology was devised by three colleagues working together in the software industry. While looking for premises from which to establish the company, CEO Paul Tinkler and University of Bath graduates Alex Dick and Niall Buckingham contacted the University of Bath's SETsquared Business Acceleration Centre.
In February 2005 Mirifice took a small office at the Centre. Shortly after David Richards, formerly of Sun Microsystems, was selected from SETsquared's 450-member mentor pool as company mentor and is now a non-executive Director with Mirifice Ltd. David and Simon assisted in developing the MirimonTM product strategy and in securing small business loan from HSBC, whose bank manager was introduced to the company during a SETsquared business panel review.
In May 2006, Mirifice was the first company to benefit from the SETsquared Partnership's UK-US Science Bridge Programme. The Programme, which was set up with a £1.5 million grant from the DTI to foster relationships between the high-technology research and development communities of southern England and Southern California, awarded Mirifice an international travel grant. The grant enabled them to jumpstart relationships in the US, eventually leading to the Cisco contract.
During their time as members of the Centre, Mirifice participated in investment networking events: the SETsquared Partnership Investment Showcase in London and SETsquared Investor Garden Party in Bristol.
In June 2007, Mirifice received £250,000 of investment from the South West Ventures Fund, managed by YFM Group. The investment will support the marketing and rollout of MirimonTM, their unique monitoring solution for Digital TV networks.
Managing Director Paul Tinkler said "After less than two years in the SETsquared Business Acceleration Centre, Mirifice has moved to new premises in central Bath and now employs 25 staff, eleven of whom are University of Bath graduates. So as well as having the US and European contracts, we are pleased to also be contributing to the local economy."
