SRI International Marks Another Year of Spin-off Strategy Success; Companies Celebrate a Year of Innovation and Market Success.MENLO PARK Menlo Park.
1 Residential city (1990 pop. 28,040), San Mateo co., W Calif.; inc. 1874. Electronic equipment and aerospace products are manufactured in the city. Menlo College and a Stanford Univ. research institute are there.
2 Uninc. , Calif. -- SRI International (company) SRI International - One of the world's largest contract research firms. Founded in 1946 in conjuction with Stanford University as the Stanford Research Institute, they later became fully independent and were incorporated as a non-profit organisation under U.S. , a leading independent, nonprofit research institute well known for its pioneering innovations, notes another year of its successful spin-off strategy and the milestones of several of its spin-off companies. A key component of SRI's business strategy is to spin-off new ventures each year to capitalize on Cap´i`tal`ize on`
v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. the groundbreaking technology developed at SRI and move it into the marketplace. To date, SRI and its subsidiary Sarnoff Corporation Sarnoff Corporation, with headquarters in Princeton, New Jersey, is the former RCA Laboratories. The headquarters is the site of the development of color television, CMOS technology, electron microscopy, and many other important technologies since the cornerstone was laid just have spun off more than two-dozen new ventures.
"A measure of SRI's contribution to technology and economic growth is its success in transferring technology to spin-off companies," said Yogen Dalal, managing director at Mayfield. "The institute's long and well-known history is predicated on its collaborative research programs and its ability to work with industry to develop advanced and important technologies. Many more of us in the venture capital community are taking note of SRI's successful spin-off strategy and ability to leverage its R&D success."
Commenting on the achievements, SRI Vice President of Ventures and Strategic Programs, Norman Winarsky said, "This year, our spin-off companies have continued to bring some of SRI's most important technologies to market while delivering tremendous value to their customers. These companies are clearly contributing to the advancement of many of today's important science and technology innovations. We thank our VC partners for the significant contributions, guidance and commitment to SRI and our ventures."
The following summaries offer insight into the impact of these high-value ventures:
--Artificial Muscle Secures $7.5M in Funding
In 2004, SRI formed Artificial Muscle Incorporated (AMI, www.artificialmuscle.com), a company that develops and markets components made of EPAM EPAM Elementary Perceiver And Memorizer (learning system)
EPAM Electron Proton Alpha Monitor
EPAM Electronic Pilot Activity and Alertness Monitor (aviation) (Electroactive Polymer Artificial Muscle). The smart material was developed and patented by SRI researchers.
--Intuitive Surgical Secures Record Number of Customers and Revenue
Intuitive Surgical Intuitive Surgical Inc. (NASDAQ: ISRG) is a corporation that manufactures robotic surgical systems, most notably the da Vinci Surgical System. Intuitive Surgical has a market capitalization of 9.77 billion USD and is part of the Nasdaq-100 and S&P 400 MidCap Indices. , Inc. (Nasdaq:ISRG ISRG Independent Space Research Group
ISRG Independent Safety Review Group )(www.intuitivesurgical.com), the industry leader in surgical robotics, reported record revenue in 2004. In its third quarter, the company reported a run rate of $140M driven by continued recurring revenue growth and higher da Vinci da Vinci Surgery A surgical robot for performing certain surgeries–eg, mitral valve repair and laparoscopic procedures–eg, cholecystectomy and gastric ulcer repair. See Laparoscopic surgery, Robotics, Surgical robot. (R) Surgical System shipments.
-- Nuance Celebrates 10 Years
In October, Nuance (Nasdaq:NUAN NUAN New User Action Notation (modeling language) )(www.nuance.com) celebrated 10 years of innovation in the speech and voice automation industry. From its 1994 beginnings in SRI's Speech Technology and Research (STAR) Laboratory, Nuance has led the speech market with products that enable today's generation of advanced voice systems. In 1996, Nuance developed and deployed the industry's first large-scale commercial speech application. Today, Nuance is the recognized North American North American
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-- PacketHop Secures $10M in Series B Financing
PacketHop (www.packethop.com) develops mobile broadband Description
Mobile Broadband is a type of wireless internet access that differs from Wi-Fi.
Mobile Broadband is the name used to describe the 3G services which are made possible by HSDPA and HSUPA, the latest technologies on the W-CDMA evolutionary path. networking products that deliver high network availability, enhanced coverage, security, quality of service, efficient cost performance, and real-time peer-to-peer communications Communications in which both sides have equal responsibility for initiating, maintaining and terminating the session. Contrast with "master-slave communications," in which the host determines which users can initiate which sessions. to serve a wide range of markets. PacketHop's secure mobile mesh networking Mobile mesh networking is a way to implement wireless networks using mesh routing protocols. Mobile Mesh devices have the capability of receiving and routing data. Data packets will be transmitted from device to device using several hops. software loads easily onto virtually all standard IP radio-equipped devices like laptops, PDAs and tablets enabling a mobile broadband network to be created instantly. The company is currently preparing for a commercial product launch in early 2005 and has secured key strategic partnerships with Nortel Networks (Nortel Networks Limited, Brampton, Ontario, www.nortelnetworks.com) A world leader in telecommunications products, which includes switching, wireless and broadband systems for service providers and carriers, telephones and systems for residential and business users, computer telephony , Itronix, and Xybernaut, among others.
-- PolyFuel Announces New Family of Fuel Cell Membranes
PolyFuel (www.polyfuel.com), a leader in engineered membranes for fuel cells, announced a breakthrough in technology that could ultimately make hydrogen fuel cell-powered automobiles a commercial reality. At the heart of the breakthrough is a new family of membranes -- the crucial component of a fuel cell -- that exhibit a set of performance characteristics never before simultaneously achieved in hydrogen-based fuel cells.
PolyFuel has already introduced the highest-performing membranes available for the compact, portable, methanol-based fuel cells that are being developed to replace batteries in portable electronic devices such as notebook computers and cell phones. PolyFuel has been named a 2005 Technology Pioneer by the World Economic Forum, received a grant from the US Department of Energy, which chose PolyFuel to work on a portable fuel cell application alongside Intel Corporation, and Frost & Sullivan named PolyFuel's technology "Enabling Technology of the Year for 2004 for Power Supplies and Batteries."
Venture Funding Details:
Artificial Muscle: Artificial Muscle Inc. was spun off from SRI in 2004. To date, AMI has secured $2.5 million in Series A venture funding from Vanguard Ventures, ARCH Venture Partners and NGEN NGEN Next Generation
NGEN Next Generation Enterprise Network (US Navy Intranet Development Program) Partners.
Intuitive Surgical: Intuitive Surgical was spun off from SRI in 1995. Prior to its public offering, the company received venture funding from Morgan Stanley Dean Witter, Mayfield, and Sierra Ventures.
Nuance: Nuance was spun off from SRI in 1994. Prior to its public offering in 2000, the company received venture funding from Alloy Ventures, Goldman, Sachs and Company, Mayfield, Morganthaler Ventures, Motorola, US Venture Partners and Visa International.
PacketHop: PacketHop was spun off from SRI in 2003. To date, PacketHop has secured $15M in venture funding including a $10M Series B financing round led by ComVentures with participation from existing investors US Venture Partners and Mayfield.
PolyFuel: PolyFuel was spun off from SRI in 2002. The company has secured venture funding from Vancouver-based Ventures West, Chrysalix Energy LP, Intel Capital, Mayfield, and Technology Partners.
About SRI International
Silicon Valley-based SRI International (www.sri.com) is one of the world's leading independent research and technology development organizations. Founded as Stanford Research Institute Stanford Research Institute - Former name of SRI International. in 1946, SRI has been meeting the strategic needs of clients for almost 60 years. The nonprofit research institute performs contract research and development for government agencies, commercial businesses and nonprofit foundations. In addition to conducting contract R&D, SRI licenses its technologies, forms strategic partnerships and creates spin-off companies.