A 150-year old Cork company, Punch Industries, has been named as the overall winner of the 2003 All Island Innovation Awards.
The company manufactures a range of shoe and fabric care, and cleaning products at factories in Little Island and Kinsale.
Punch Industries also won the large business category award and the €15,000 top prize for its "Keep it white" concept ,which uses patented technology to help stop whites going grey in the washing machine.
The other three category winners are Andor Technology and Fusion Antibodies of Belfast and Derry company Andronics.
Speaking at the awards Mr Michael Ahern, Minister of State for Enterprise, Trade and Employment said : "Our future competitiveness and prosperity will depend upon our ability to move further up the value chain, to bolster the innovative capacity of our economy."
The awards are designed to highlight the importance of innovation and technology in business throughout Ireland and are organised by Forfas, Invest NI and InterTradeIreland. This is the second year that they have been run on an all-island basis.