Topeka, Kan. (May 17, 2010) – Kansas Technology Enterprise Corporation (KTEC) has announced its equity investments for fiscal year 2010. During this fiscal year, KTEC has invested a total of $350,000 in five companies: AthletixNation, Olathe; EcoFit Lighting, Inc., Lenexa; KCBioMedix, Inc., Shawnee; Matrix Electronic Measuring, Inc., Salina; and Nitride Solutions, Inc., Wichita.
KTEC invests in early-stage technology-based companies that have the potential to compete on a national or global level, generate revenue, create high paying jobs and, ultimately, provide a return on investment for Kansas.
“As we assess these companies, we look at a number of things, including the marketplace, truly innovative technology, leadership and the ability of the company to attract additional capital,” said Kevin Carr, interim CEO. “In my mind, we‟re trying to find what I call „game changers‟ – companies that will help put this region on the map in terms of building our economy, creating high paying jobs and generating spin-off business for other Kansas companies.”
KTEC investments for FY ‟10 include:
- AthletixNation (AXN) received $100,000 from KTEC. Founded in 2007 by Davyeon Ross, an Olathe-based entrepreneur, AXN is a multi-media sports content provider, delivering college sports video and sports applications to third party web sites and mobile devices. AXN offers a comprehensive technology platform solution that leverages social media tools, video, mobile technology and content management to promote user interaction and engagement.
- EcoFit Lighting, Inc., Lenexa, received an investment of $50,000. Founded in 2008, EcoFit Lighting designs, manufactures and markets high-output LED streetlights. The patent-pending EcoFit module allows municipalities and utilities to utilize existing fixtures, resulting in lower costs, quicker installation time and elimination of waste from discarded fixtures. EcoFit was founded by Cason Coplin, president and COO.
- KCBioMedix, Inc., Shawnee, received an investment of $50,000 from KTEC. KCBioMedix is an early-stage medical device company focused on developing and commercializing products that are used by neonatal healthcare providers to assess and treat feeding issues in premature infants. KCBioMedix was founded by D. Michael Litscher and David Stalling, PhD, in 2006.
- Matrix Electronic Measuring, Inc. recently received $50,000 from KTEC. Jan Srack, president and CEO, founded Matrix in 2003. The Salina-based company developed the Matrix Wand, a patented, Stereoscopic 3-D computer measuring system designed to capture and document images of collision damaged vehicles before, during and after repair. The wireless, handheld tool produces images that can be referenced to an accuracy of two millimeters.
- Nitride Solutions, Inc., Wichita, received an investment of $100,000. The company, founded in 2007 by Jason Schmitt, developed a proprietary high-volume, low-cost production process for Aluminum Nitride substrates for use in lighting, air and water purification, industrial and medical applications.
KTEC‟s application process for direct capital investment includes submitting a business plan, demonstrating through market research that a considerable market exists and demonstrating the potential to create high paying jobs and generate a return on investment. In addition, each company is required to provide matching funds.
About KTEC: KTEC is a Kansas-funded entity charged with promoting technology-based economic development. KTEC assists Kansas entrepreneurs and technology companies by supporting the development of new technologies, through a statewide network designed to support researchers, entrepreneurs and technology companies through each phase of the technology life cycle. KTEC‟s ultimate goal is to create rapid-growth companies and higher paying jobs. To learn more about KTEC, visit www.ktec.com.