Third Wave Systems Ranked No 2990 on the 2008 Inc. 5000
Minneapolis, MN
September 18, 2008
NEW YORK – Inc. last month ranked Minneapolis-based Third Wave Systems, Inc. Company No. 2990 on its annual ranking of the 5000 fastest-growing private companies in the country. The list is the most comprehensive look at the most important segment of the economy – America’s independent-minded entrepreneurs. Taken as a whole, these companies represent the backbone of the U.S. economy.
Third Wave Systems provides material-based, machining modeling software and services used by Fortune 500 aerospace, automotive, and cutting tool companies to optimize traditional and state-of-the-art high speed machining processes. The company’s software, AdvantEdge FEM and AdvantEdge Production Module, combine nano-technology and material modeling to produce simulations that provide more information in a timely manner, and at a lower cost than traditional trial and error testing.
TWS has partnered with the Department of Defense on numerous occasions, being awarded roughly 40% of the U.S. Air Force SBIR contracts in Minnesota over the past five years. Third Wave Systems also received $5.2 million in Congressional appropriation for technology implementation on the Army’s Future Combat System (FCS) program. Boeing, Rolls Royce, Toyota, Bell Helicopter, Canon, General Motors, and General Electric are among TWS’ national and international customer base. In addition, Third Wave Systems conducts international workshops and licenses its technology to more than 100 academic institutions worldwide.
In 2007, Third Wave Systems was named one the Twin Cities’ 50 fastest-growing private companies by Minneapolis/St. Paul Business Journal. In addition to Minneapolis, TWS has three offices in the United States, one in the United Kingdom, and five international distributors.
"Our second annual Inc. 5000 continues the most ambitious project in business journalism," said Inc. 5000 Project Manager Jim Melloan. "The Inc. 5000 gives an unrivalled portrait of young, underreported companies across all industries doing fascinating things with cutting-edge business models, as well as older companies that are still showing impressive growth."