Orange County-based OCTANe, a local organization driven to support entrepreneurs and technology growth in the region, has increased its investment in startups involved with its LaunchPad SBDC (Small Business Development Center) program by 30 percent since 2011. From January through June 2012, the companies participating in its startup accelerator have raised a total of $25.3 million.
Since 2004, OCTANe LaunchPad companies have raised an impressive $250 million in funding to help advance early-stage technology companies and in investment capital. The pro bono program takes a hands-on approach to accelerate in technology, life science and clean tech industries. Partially sponsored by the U.S. Small Business Administration, the LaunchPad is a part of the Orange County/Inland Empire regional SBDC network.
“Increased interest across all of OCTANe’s regional innovation clusters is driving a significant increase in investment activity in our LaunchPad companies,” said Matthew Jenusaitis, president and CEO of OCTANe. “The Orange County technology ecosystem continues to thrive in medical devices, information technology, and cleantech, and we are optimistic that the trend will continue through the rest of the year.”
Some companies whose performance lead to increased funding activity during the period include; STROMA Medical Corp., BioPhotas, Cirro Inc., Harbor MedTech Inc., NudgeRx, MelRoK, OncoSec Medical, Pivotshare, and much more.
“My background is in academia, and LaunchPad was like a crash-course MBA,” said Dr. Nazli Azimi, a LaunchPad alumna and founder and CEO of Bioniz, which received $500,000 in funding in the first half of 2012. “While I understand the science aspect of my company, OCTANe helps me to better understand the business components. LaunchPad helped me turn my scientific discovery into a promising business.”
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