THE sky's the limit for an innovative Bury company which has been hailed as one of a new generation of business stars.

AKYA Ltd, which is involved in the development of innovative technology, has emerged as one of the UK's top ten start-ups in a national business awards, spearheaded by HSBC Bank.

And, thanks to the success, the company will now benefit from free business consultancy and a software package worth £3,000, courtesy of IRPC and Sage.

AKYA, based in Church Meadow, Unsworth, and run by Graeme Smith, emerged as a finalist in the coveted HSBC Start-Up Stars Awards, launched earlier this year, in association with the Daily Express and Sky News.

The awards were established to promote and encourage fledgling entrepreneurs, striving to build businesses, which have been trading for less than two years.

AKYA is involved in developing innovative technology to prolong the life of home entertainment and networking systems.

Electronic whiz-kid Graeme set up AKYA in 1999 to launch a range of products that will stop media equipment becoming obsolete as soon as it leaves the shop.

Using programmable logic, the equipment will enable existing audio and video machines to be "reconfigured" or upgraded, so that new functions can be implemented in-situ. The idea is that if your sound system currently provides you with Dolby Pro-Logic, the AKYA set-top box will enable you to upgrade to THX Surround Sound, without having to buy a set of new equipment.

Graeme has a degree in electronic engineering and 18 years of experience in the electronics industry, developing and marketing innovative hi-tech products for major international companies.

He has set up his own business, using his experience and expertise to attract consultancy work to fund the development of his new product range.

Patents are pending both in the UK and abroad and discussions are currently under way with a UK-based manufacturers which would be contracted to build the AKYA products.

In the meantime, Graeme is looking to recruit staff to support his work on the design and development of products that look set to become the new industry standard and put an end to built-in obsolescence.

"I hope to get incubation funding to take on five or six people," says Graeme (40), who has extensive experience as an electronics engineer.

Business incubation is a process which provides hands-on support for very small firms in order to stimulate their growth and development.

"I'm trying to get my business off the ground and I've got my business plan ready to go," added Graeme.

He travelled to the awards, at London's Savoy Hotel, to receive a trophy before an audience of more than 250 leading businessmen and women.

Head of the judging panel, John Rendall, said: "AKYA is a business which stands out as an inspirational example of what can be achieved through vision, commitment and hard work."

Graeme, who put himself forward for the awards, said: "As an electronics engineer, I did a lot of work for other people. But I had some ideas of my own and as I was getting older and older, I decided I'd go for it and set up my own company."