Chicago-ITEC Continues To Advance Entrepreneurs; Recent and Prior Investments Show Growth and Potential.Business Editors CHICAGO--(BUSINESS WIRE)--Nov. 17, 2003 The Chicago Illinois Technology Enterprise Center (Chicago-ITEC) today announced three new additions to its portfolio of life sciences and technology companies. An investment of $25,000 was made in All Cell Technologies, in Starthis, and in Mobitrac, to help commercialize their respective innovative technologies. Chicago-ITEC also reported substantial progress from existing portfolio companies, Ace Education, NewNeural and ZelleRx. All Cell Technologies has licensed a novel thermal management technology that uses phase change material to develop a rechargeable Lithium-ion battery Lithium-ion batteries (sometimes abbreviated Li-ion batteries) are a type of rechargeable battery commonly used in consumer electronics. They are currently one of the most popular types of battery for portable electronics, with one of the best energy-to-weight ratios, no for electric and hybrid vehicles This is a list of hybrid vehicles in chronological order of production: Early designs
Erving, Julius Erving, Julius Winfield Erving . Robert Selman, have licensed this technology from the Illinois Institute of Technology Illinois Institute of Technology, in Chicago; coeducational; founded 1940 by a merger of Armour Institute of Technology (founded 1892) and Lewis Institute (1896). . The company hopes to commercialize a more efficient and cost effective Lithium-ion battery that can be used for more applications than traditional sources. The company will use the investment to strengthen corporate development and produce a working prototype. Starthis develops the iTapestry Suite of middleware to provide connectivity from the enterprise level to plant floor automation controls in real-time. Subsequent to Chicago-ITEC's investment, Starthis was awarded a three year, $2 million grant from The U.S. Commerce Department's NIST (National Institute of Standards & Technology, Washington, DC, www.nist.gov) The standards-defining agency of the U.S. government, formerly the National Bureau of Standards. It is one of three agencies that fall under the Technology Administration (www.technology. Advanced Technology Program (NIST/ATP). Starthis will use the investment and the grant funding to develop new products to enable agile manufacturing Agile manufacturing is a term applied to an organization that has created the processes, tools, and training to enable it to respond quickly to customer needs and market changes while still controlling costs and quality. that allow engineers to design and reconfigure control systems "on the fly." Additionally, researchers at the University of Illinois at Chicago This article is about the University of Illinois at Chicago. For other uses, see University of Illinois at Chicago (disambiguation). UIC participates in NCAA Division I Horizon League competition as the UIC Flames in several sports, most notably Basketball. will investigate and assist in the development of the algorithms that will underlie these new agile manufacturing methods, as a subcontractor on the grant. Mobitrac is commercializing an enterprise software package for mobile fleet management. The base technology was developed by Dr. Ouri Wolfson and a team of students at the University of Illinois at Chicago and funded by the National Science Foundation and U.S. Army Research. Unlike current static routing Forwarding data in a network via a fixed path. Static routing cannot adjust to changing line conditions as can dynamic routing. See routing protocol. systems, Mobitrac integrates predictive technology that allows for sophisticated insight into the future location of an object, which allows potential users to make business decisions before missed appointments become service errors. Led by CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Michael Liddell, Mobitrac hopes to improve productivity and reduce costs for package pick-up and delivery businesses, hazardous materials haulers, private service fleets and less-than-truck-load carriers. The company will use the investment to expand their engineering and sales operations in Illinois. "Chicago-ITEC is available to provide its portfolio companies the necessary support each company will need to transform their technologies into revenue generating products," said Kathryn Hyer, executive director of Chicago-ITEC. "Chicago-ITEC's support of and investments in these companies demonstrates how assistance in building new, strong technology-based companies leads to economic growth and more jobs in the State of Illinois." Prior to the recent investments, Chicago-ITEC provided assistance to and invested in three area start ups - Ace Education, NewNeural and ZelleRx. Since receiving these funds in March, all three companies have made significant progress. Ace Education, in collaboration with Boeing, has been working to solidify its intellectual property position for its interactive virtual reality training tools for the healthcare industry. The company has continued to move its sales and marketing efforts forward and is in advanced discussions with several major learning institutions in its effort to drive manufacturer demand through key end users. NewNeural, a start-up based on technology from the University of Illinois at Chicago, is preparing to close its angel round of financing to advance development of an adult stem cell Adult stem cells are undifferentiated cells found throughout the body that divide to replenish dying cells and regenerate damaged tissues. Also known as somatic (from Greek Σωματικóς, of the body therapy treatment for neurological disorders This is a list of major and frequently observed neurological disorders (e.g. Alzheimer's disease), symptoms (e.g.back pain), signs (e.g. aphasia) and syndromes (e.g. Aicardi syndrome). . Since March, NewNeural has expanded its management team and added members to its board of directors. The company continues to attract sustained attention from foremost thought leaders in the field of neurology. ZelleRx continues to progress through the next steps in its corporate development. The company has expanded its management team and scientific advisory board. Additionally, the company has strengthened its intellectual property portfolio on its NK-92 cellular therapy for cancer treatment. ZelleRx continues to reach milestones in clinical trials both in the U.S. and Europe. In an effort to further promote the formation and retention of technology driven companies, Chicago-ITEC collaborated with Illinois' seven other ITEC ITEC Instituto de Tecnologia em Informática e Informação do Estado de Alagoas ITEC International Therapy Examination Council (UK) ITEC Internet Technology ITEC Institute for Tropical Ecology and Conservation ITEC Instructional Technologies programs to conduct a SBIR SBIR Small Business Innovation Research (program/grant) SBIR Space Based Infra-Red SBIR Speaker-Boundary Interference SBIR Site Backsurface-referenced Ideal Plane/Range (silicon wafers) phase I workshop for approximately 200 individuals from more than 150 companies, research institutions and universities. Chicago-ITEC alone has provided in-depth assistance to more than 45 companies seeking SBIR Grants and helped submit 11 technical proposals. Since its launch, Chicago-ITEC has provided 84 high-tech companies in the Chicagoland area with a wide variety and range of business development services. Those companies interested in an investment must participate in an evaluation process that involves input from several sources, including industry experts, venture capitalists, and the advisors of the Chicago-ITEC. Interested entrepreneurs should contact Ajith Joseph at the Chicago-ITEC, 312-413-4663. About Chicago-Illinois Technology Enterprise Center (ITEC) Chicago-ITEC, is part of a statewide network of entrepreneurial development centers funded by the State of Illinois' Department of Commerce and Economic Opportunity. The mission of Chicago-ITEC is to stimulate development of advanced technology and accelerate growth of the technology business sector in Chicago. The Chicago-ITEC is operated by IllinoisVENTURES, L.L.C. on behalf of its sponsoring partners, which include the Illinois Institute of Technology, the University of Illinois University of Illinois may refer to:
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