2 Innovative N.Ky. Companies Benefit From Technology Start-Up Programs

COVINGTON, Ky. November 30, 2009 – The Northern Kentucky ezone, a division of Northern Kentucky Tri-County Economic Development Corporation (Tri-ED), announced today that Jacobs Automation and DRSQUARED secured more than $600,000 through work with the ezone and programs offered by the Kentucky Science and Technology Corporation (KSTC).

The ezone, an Innovation and Commercialization Center supported in part by the Kentucky Department of Commercialization and Innovation (DCI) through KSTC, introduced Jacobs Automation to the various programs available for high-potential, growth oriented companies in Kentucky.

Jacobs Automation received up to $150,000 in support from DCI through its High-Tech Investment Pool. Soon after, Jacobs received an additional $250,000 award from Commonwealth Seed Capital (CSC), another DCI program.

"Given the economy and difficulty securing funding from traditional sources, the support we have received from the ezone and the KSTC programs has been invaluable and helped us invest in and further develop our technology," said Keith Jacobs, Founder and President of Jacobs Automation.

"We are focused on growing our company and excited to be part of the high-tech economic growth that is happening in the state of Kentucky."

Most recently, Jacobs Automation received $200,000 in October from the Kentucky Enterprise Fund (KEF), a KSTC program, to fund its development of PackTrak™, a technology with groundbreaking speed, flexibility and energy efficiency for the packaging and material handling industry. The support Jacobs received through KSTC complements funding being solicited from public and private investors in Ohio and Kentucky facilitated by the ezone.

"Northern Kentucky is focused on helping innovation-driven companies get started and thrive by working with KSTC and private investors through the ezone," said Campbell County Judge Executive Steve Pendery, a member of Tri-ED’s Executive Committee and Chairman of the ezone’s Entrepreneurial Committee.

"Entrepreneurs and high-tech companies are integral to the success of our local economy and we’re helping ensure their future growth in our region."

DRSQUARED was awarded a $30,000 grant from KSTC for the continued development of a web-based tool that will help online sellers increase the visibility of their products while saving them time. Instead of dealing with multiple online marketplaces, DRSQUARED offers its customers a one stop shop where they can post, track and manage their products.

"The KSTC grant gave me the momentum and confidence to push my idea forward," said Rodney D’Souza, the company’s founder. "The best part is that the ezone and KSTC provide the mentoring, networks and access to many non-monetary resources that will accelerate the growth of my business."

"Jacobs Automation and DRSQUARED are in very distinct start-up stages and demonstrate how broad and useful the funding available through KSTC can be," said Casey Barach, VP of Entrepreneurship at the ezone. "Rodney had a new technology idea when he came to the ezone while Jacobs has multiple demo units, patents, and even some revenue. We are equipped to help them both."

New funding applications will be accepted until the Feb. 25, 2010 deadline and ezone clients can apply for grants of $30,000 or other funding options ranging from $100,000 to $750,000 toward commercializing high-tech/high-growth companies and ideas.

The grants enable individuals or businesses to create and market new products, technologies and processes. The funding received from the Commonwealth can assist or compliment companies whose strategy includes raising capital.

For more information or to begin your application, contact Keith Schneider at the Northern Kentucky ezone at (859) 292-7785 or visit http://www.nkyezone.org/ for more information.

Phil Flynn

Staff Economist

Kentucky Cabinet for Economic Development

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