Skills management company InfoBasis has won the Startups Team of the Year Award.

The company, launched in 2001, was praised by award judges for their tenacity in developing an entirely new product and taking it to market, and for reaching profitability within the first three years of operation.

InfoBasis Enterprise Skills Infrastructure – the company’s core product – has been adopted as a platform for skills management services by clients such as Microsoft, the British Computer Society and the British Army.

Ashley Wheaton of InfoBasis said teh award was "great news". “It’s due recognition for the hard work that the team have put into making the company a success over the past three years. I’m sure it will also give us inspiration for the coming three.”

Patricia Hewitt, Secretary of State for Trade and Industry, added: “We have some fabulous success stories in this country, of start ups creating jobs, making new and exciting products and driving our economy. But too often we don't celebrate the success of our best entrepreneurs as much as we should, which is why awards like these are so important.”