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Mass Ventures – Phase 1 START

MassVentures

MassVentures Announces 2014 “START” Stage I Program Winners

$1 million award demonstrates success of START program to help Massachusetts companies commercialize technologies and build sustainable businesses

MassVentures, announced today the 2014 START Stage I program winners. START, now in its third year, is  a $6 million initiative funded by the Patrick Administration and administered by MassVentures to help growing companies commercialize technologies developed under SBIR and STTR contracts. The program is intended to help high-growth companies grow employment opportunities, promote manufacturing and commercialization, and stimulate innovation across the Commonwealth.

Each of the ten companies will receive a $100,000 grant for product design, market research, intellectual property protection and other commercialization activities. The winners are:

 

Cambridge Electronics, Inc. Cambridge Electronics is a power electronics start-up company with the mission of revolutionizing semiconductor devices based on GaN. Cambridge, MA
Eos Photonics Eos Photonics enables critical applications in chemical detection that leverage a new generation of infrared laser technology – the “Quantum Cascade Laser”. Cambridge, MA
FloDesign Sonics FloDesign Sonics is developing acoustic separation technologies with applications in oil/water emulsion splitting, bio-pharmaceutical cell clarification, and biomedical application such as blood salvaging. Wilbraham, MA
GVD GVD Corporation is focused on the design and manufacture of vapor deposited ultra-thin polymer coatings for functional surfaces and environmental protection. Cambridge, MA
NetBio NetBio is developing and commercializing fully automated, easy to use, field-portable Rapid DNA Analysis products that are transforming human forensic identification. Walpole, MA
Persimmon Technologies Corporation
Persimmon Technologies is a leading provider of vacuum-environment robotics and hybrid-field motor technology for the semiconductor, LED, solar and flat panel display equipment markets. Wakefield, MA
Triton Sysems Triton Systems is a full service business venturing company that transforms early stage innovations into commercial products and enterprises. Chelmsford, MA
Visible Good Visible Good designs and manufactures innovative shelters that can be deployed in 30 minutes or less with no tools. Newburyport, MA
Xtalic Xtalic creates performance breakthroughs using proprietary Dynamic Nanostructure Control® to custom tailor unique nanostructured metal alloys to deliver new levels of performance, reduce use of high cost raw materials and replace toxic or unsafe materials. Marlborough, MA

“Massachusetts is an SBIR hub, being first in the nation in dollars received per capita and second in the nation in total dollars received,” said Greg Bialecki, The Secretary of Housing and Economic Development.  “The START program is essential to making sure the best of these companies have the financial backing and support to commercialize their technologies and grow into thriving businesses here in the Commonwealth.”

Next year the ten companies will compete for one of five Stage II awards of $200,000 each and will be selected based on their progress in bringing a product or service to market.  In two years, two of the original ten companies will be chosen for a $500,000 investment based on their potential for growth and profitability. In addition to financial assistance, START provides coaching, business planning and introductions to potential investors.

“The past START Stage I winners were able to highly leverage the program to help accelerate business development activities, acquire new customers and build teams,” said Jerry Bird, President of MassVentures. “We look forward to supporting the 2014 winners and helping them become viable economic development engines in the Massachusetts overall economy.”

For more details on the program, eligibility requirements and the application and granting process, please visit www.mass-ventures.com/start.html.

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About MassVentures

MassVentures is a venture capital firm focused on fueling the Massachusetts innovation economy by funding early-stage, high-growth Massachusetts startups as they move from concept to commercialization. MassVentures focuses on Series A investments and considers occasional and opportunistic seed rounds. We provide capital for first-time CEOs and/or founders and consider industry segments not adequately served by the venture community.

 

Our track record of success combined with our expertise, contacts and support for entrepreneurs makes MassVentures an attractive venture partner for early-stage companies in Massachusetts. For more information, please visit www.mass-ventures.com.

For additional information, please contact:
Jerry Bird
President
MassVentures
John Fitzpatrick
Program Manager, START
MassVentures

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