Ronnie Manning

Yubico Grabs 2014 Innovation Award

Swedish business journal Veckans Affärer has awarded Yubico its 2014 Swedish Innovation Award along with a $15,000 prize.

The eigth-annual award recognizes Swedish companies that have made an extraordinary mark in the business world. Yubico’s chairman of the board Mats Wenneberg (third from right in picture) accepted the prize during a gala ceremony held in Stockholm.

Yubico recently released its Security Key, a device designed to work with the FIDO U2F protocol support Google recently added to its Chrome browser.

The Security Key is the first security device aimed at supplying two-factor authentication protection for every online application using just a single key.

CEO Stina Ehrensvard told Veckans Affäre, “Gmail has 1 billion users. If we get 1% percent of these customers within a year, I am satisfied.”

Ehrensvard founded the privately-held company in 2007. Yubico’s Yubikeys are used in 140 countries around the world and by seven of the Top 10 Internet companies.

Previous winners of the award include online music streaming service Spotify and ABB, which develops power and automation technology.

The 2014 winner of the Student Innovation Award was Johan Heden Hultgren.

This year’s awards jury consisted of Anders Snell, ÅForsk; Jonas Wiström, President ÅF; Jessica Nilsson, Investment Manager North Zone; Staffan Helgesson, Creandum partner; Annika Steiber, Ph.D. and founder Innoway; and Jill Bederoff, Business Week reporter.