TechColumbus awards $350,000 to seven companies

TechColumbus awarded TechGenesis grants totaling $350,000 to seven local pre-seed companies during the last half of 2011.

Those companies are:

  • Acceptd LLC, which has developed a Web-based prescreening tool designed to streamline the admissions process for fine arts colleges and programs.
  • • Cell Gull Ltd., which has developed an application that offers an advertising solution for retailers based on augmented reality, which provides customers with a way to enhance their shopping experience and find nearby deals using their smartphones.
  • • DNA Concepts LLC, which is a software solutions provider focused on enhancing consumer experiences using augmented reality, which enables a view of the real world with computer-generated sensory input, such as 3D objects, sound or graphics, placed in the environment in real time.
  • • Facio Inc, which helps companies get the most from their human capital via proprietary 360 degree assessments that provide insight into the skills, behaviors, preferences, values and interests of individuals and teams, creating environments that attract, cultivate, and retain the best talent.
  • • Inmobly LLC, which is commercializing a patent-pending mobile content distribution technology that combines learning techniques for user profiling with advanced scheduling algorithms for improved network efficiency and enhanced user experiences.
  • • Moncaí LLC, which is developing a platform as a service that facilitates rapid deployment and scaling of Microsoft .NET web applications without the cost and complexity of buying and managing the underlying hardware and software.
  • • Ripple Mobile LLC, a mobile technology firm specializing in location-based technology for businesses and consumers. It has released three products so far using the Ripple platform: Ripple Tag, OnTime, and Plan My Trip.

TechGenesis awards are generally used for prototyping, market research, intellectual property protection and other early stage commercialization activities.

“Many great ideas die before they are even tested,” says Tim Haynes, interim president and CEO of TechColumbus. “TechGenesis grants support the efforts of entrepreneurs to fully vet their ideas and prove their viability to themselves, to first customers, and to early investors. The TechGenesis program is critical to the continued expansion of the region’s technology entrepreneurial ecosystem.”

Companies are awarded up to $50,000 each to fund specific exercises that prove the validity of their business concept and/or product and advance the company through the commercialization process.  After completing the TechGenesis validation phase, many companies apply for pre-seed or angel investments.

In response to an increasing number of technology business concepts being brought forth from the community, TechColumbus changed its TechGenesis review cycle from once per quarter to a real-time basis in Fall 2011.

“We find this steady growth in entrepreneurial activity very encouraging for the region’s tech economy and we’re continually reviewing our programs and processes to make sure they remain relevant and of greatest support to the entrepreneurs we serve,” Haynes says.