Global tech magazine nominates Perth listed Weebit in top 60 hot start-ups

American based global electronics magazine EE Times has added a company that was backdoor listed in Perth to its highly anticipated annual list of hot tech start-ups to watch.

ASX listed Weebit, that was recently backdoor listed into Radar Iron by Nedlands based corporate advisory firm Armada Capital, has made the EE Times “Silicon 60” list this year.

The Silicon 60 list is a compilation of 60 start-ups around the world that are selected each year by electronic engineering experts associated with the EE Times based on a number of criteria.

Eligibility for inclusion in the Silicon 60 is based on expert opinion of a company’s technology, intended market, financial position, investment profile, maturity and executive leadership.

Weebit, with the assistance of Israeli connections and Texas based Rice University, have developed a next generation, highly disruptive style of silicon computer memory storage that is based on a technology known as “Re-RAM” or “resistive random access memory”.

The company says its new style of memory is 1000 times faster than existing “flash” memory and consumes 1000 times less power.

Flash memory is typically used in devices that need to store memory after the power has been turned off and can be found in mobile phones, laptops, usb thumb drives and a raft of other devices. It is also well utilized in cloud style data centres that seem to be popping up everywhere around the world.

The EE Times points to Weebit’s 7 patents on silicon oxide Resistive Random Access Memory as being one of Weebit’s most notable advantages.

The Silicon 60 list has been published by the EE Times since 2004 and has become something of an institution in the tech world as investors constantly scour the globe for the next big thing in technology.

According to the EE Times, “the internet of things”, which refers to more and more every day items that will be connected via the internet, is going to have a “revolutionary impact’ on how people live their lives.

The magazine also makes mention of drones that can do everything from the cleaning of windows to the delivering of parcels as a sector that is about to impact the way we live.

Inclusion in the EE Times Silicon 60 list this year will no doubt have Perth investors bristling a little after taking a punt on the company in the Radar Iron backdoor listing in August.