Fantastic news from Silicon Valley this weekend as Irish startup Profitero wins the ‘IBM Global Entrepeneur of the Year.’

Profitero analyzes competitor pricing data, offering retailers new levels of insight to help them maximize profits by adjusting pricing and merchandising strategies.

“We are honored to be named the IBM Global Entrepreneur of the Year,” said Volodymyr Pigrukh, chief executive officer and co-founder, Profitero. “Our solution is a natural complement to IBM’s smarter commerce strategy. We are looking forward to working with IBM and its network of technical experts, business partners, venture capitalists, academics and clients to capture our share of the smarter commerce opportunity.”

The company’s journey to the Global Entrepreneur Award began last November when it was selected from more than 80 entries to win the 2011 IBM SmartCamp London competition. Following that success the team received three months of mentoring from IBM before squaring off against other SmartCamp winners from around the globe last week in Silicon Valley.

“Profitero is a great example of the kind of startup company that IBM is partnering with around the world to build a smarter planet,” said Jim Corgel, general manager entrepreneur programs, IBM. “We look forward to working with Profitero to combine big data expertise with retail insights and entrepreneurial innovation to create new smarter commerce solutions for retailers.”

For more on the story, see reports in Silicon Republic and The Irish Times.  A short video of the award announcement is also available on IBM’s YouTube channel.

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