24 Early Stage Companies Named Recipients of the Arizona Commerce Authority AZ Fast Grant

24 EARLY STAGE COMPANIES NAMED RECIPIENTS OF THE ARIZONA COMMERCE AUTHORITY’S AZ FAST GRANT

Grant Money to Stimulate Technology Commercialization

PHOENIX (January 29, 2013) – The Arizona Commerce Authority (ACA) has identified 24 recipients of its AZ Fast Grant program, a highly competitive grant providing qualified Arizona-based, early stage technology companies with intensive training and technical assistance to commercialize their innovations, grow their business and create quality jobs. More than 70 small businesses applied for this round of funding.

“Startups are the lifeblood of Arizona’s economy and serve as a prime engine for economic growth,” said Sandra Watson, president and CEO of the Arizona Commerce Authority. “We are pleased to propel the incredibly innovative entrepreneurs in Arizona, helping them refine their concepts to ultimately bring them to market.”

AZ Fast Grants range from $3,000 to $7,500 per company for third-party technology validation, a commercialization feasibility study, or other commercialization assistance such as training to compete for federal funding.

2013 Arizona Fast Grant Recipients (Total: $169,230):

  • Ability Dynamics, Tempe, $7,500
  • Advanced Neuro Innovations LLC, Scottsdale, $7,500
  • Arbsource, LLC, Tempe, $7,500
  • Avelis, LLC, Scottsdale, $7,480
  • Botanisol, Glendale, $6,750
  • Colloidal Gen, Inc., Tucson,$5,000
  • Cybersponse, Chandler, $7,500
  • DemeteRx Pharmaceuticals, Tucson, $7,500
  • Engineering Science Analysis Corporation, Tucson, $7,500
  • GammaTile, Phoenix, $7,000
  • Iron Horse Diagnostics, Inc, Scottsdale, $7,500
  • Kulira Technologies, Peoria, $7,500
  • Latitude Engineering, Tucson, $7,500
  • MWI Laboratories, LLC Tempe, $7,500
  • Prime Solutions Group, Goodyear, $7,500
  • Protean Medical Devices, Tempe, $7,500
  • PureTech Systems, Phoenix, $7,500
  • SaucyPants, LLC – SaucyKids, Phoenix, $5,000
  • Science Tomorrow, LLC, Phoenix, $7,500
  • Stat Coordinations, LLC, Flagstaff, $7,500
  • TotalPersona, LLC (Worldbyme.com), Tucson, $3,000
  • Traken Technologies, LLC, Phoenix, $7,500
  • Traklight.com, Phoenix, $7,500
  • Voltmarc Technology, Inc., Phoenix, $7,500

“This  program  enables  our  state’s  small  businesses  to  obtain  the  mentoring  and feedback they need,” said Bennett Curry, Vice President Business Development, Arizona Commerce Authority. “And it’s working. We’ve already seen evidence the program strengthens Arizona’s small businesses, which ultimately strengthens our overall economy.”

Previous recipient ScienceTomorrow successfully leveraged training paid for by the AZ Fast Grant to compete for – and to receive – additional federal funds.

“One of ScienceTomorrow’s biggest challenges was developing a persuasive commercialization plan for the SBIR Phase I proposals, as it does not have prior experience on securing grant or contract and transitioning the technology to market,” said Dr. Jyoti Agrawal, ScienceTomorrow. “Through a strategy session and numerous communications, we were coached on how to write a compelling transition plan, and it paid off. It is our first success after 22 failed SBIR proposals.”

Through a suite of programs, including the AZ Fast Grant, the ACA is providing valuable tools to help small businesses and startups advance and ultimately ignite job creation in the state. In addition to this program, the ACA secured $18.2 million from the U.S. Department of Treasury’s State Small Business Credit Initiative for the Arizona  Innovation Accelerator Fund (AIAF) to spur lending to Arizona’s small businesses and foster business expansion, capital investment and job creation in Arizona. The ACA also created the Arizona Innovation Challenge, a bi-annual business plan competition awarding $3 million annually to the state’s most promising technology ventures that will drive wealth and job creation.

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Media Contact:

Nicole McTheny, Senior Vice President, Communications and Marketing

Arizona Commerce Authority

602.845.1231 or nicolem@azcommerce.com

About the Arizona Commerce Authority:

The Arizona Commerce Authority (ACA) is the state’s leading economic development organization with a streamlined mission to grow and strengthen Arizona’s economy. The ACA uses a three-pronged approach to advance the overall economy: recruit, grow, create – recruit out-of-state companies to expand their operations in Arizona; work with existing companies to grow their business in Arizona and beyond; and partner with entrepreneurs and companies large and small to create new jobs and businesses in targeted industries. Visit AzCommerce.com for more.