Boca Raton, FL – The Research Park at Florida Atlantic University has recently added three new companies to its growing Technology Business Incubator roster: APPStractions, Pivotal Therapeutics and WiGi. The Incubator is now home to 22 start-up technology businesses.
“These three companies have exceptional leadership and solid business plans,” said Andrew Duffell, president and CEO of the Research Park at Florida Atlantic University. “Each has the potential to grow into a long term, successful company that will positively impact the South Florida economy for years to come.”
One of the companies, APPStractions, Inc., is a home grown, innovative wireless product development firm that took second place in the 2011 FAU Business Plan Competition. The company develops and markets its patentable family of EasyShop products that improve the way people shop, differentiate retailers and empower brands.
Benefits of the EasyShopfamily of products include: enhancing and simplifying the consumer’s shopping experience; enabling retailers’ use of powerful mobile marketing tools that improve marketing program ROI; and expanding consumer packaged goods manufacturers’ brand message distribution and brand message effectiveness.
Pivotal Therapeutics is a publicly traded (CNSX: PVO) specialty pharmaceutical company with a focus on the treatment of cardiovascular disease. Pivotal has an additional office in Toronto. Its lead product, VASCAZENTM, is a prescription medical food formulated to meet the dietary Omega-3 deficient needs of patients with cardiovascular disease through elevating essential fatty acids to levels associated with reduced risk of cardiovascular disease.
VASCAZENTM is a >90% pure, proprietary formulation, protected by a series of both issued and pending U.S. and foreign patents and commercialized by prescription only. The new Boca Raton location will focus on the commercialization and product distribution of VASCAZENTM.
WiGi, Inc is a U.S.-based mobile software development company whose primary mission is to develop and market a secure system solution that provides mobile device users with the ability to perform Mobile Money transactions. Transactions include making payments on line and in person, sending money as a gift, making payments and more, both in the United States and internationally.
The WiGi system reduces fraudulent transactions by eliminating problems that are associated with stolen credit/debit card numbers, losing cash and laundering money. WiGi has begun to field test its products in retail business, international money transfer and other remittance markets.
Business Incubators work to accelerate the successful development of entrepreneurial companies through business support resources and services that are developed and run by incubator management. Successful completion of a business incubation program increases the likelihood that a start-up company will stay in business for the long term.
The Technology Business Incubator at the Research Park at Florida Atlantic University offers tenant companies an environment that encourages growth and development, featuring:
- Access to key FAU technical and human resources
- Flexible month-to-month lease terms
- Secure building with 24-hour access
- Private, locked office space
- Shared copier, fax, kitchen, conference room and restroom facilities
- Optional T1 data communications and server closet access
- Access to EDC programs and services
- Mentors from Research Park and Regional Tech Industries
The Incubator is managed by the Enterprise Development Corp. of South Florida (EDC) a non-profit organization that assists emerging science and technology companies. As South Florida’s clearinghouse for entrepreneurs, EDC offers the BusinessLINC mentor/protégé program, administration of the New World Angels, and production of two major conferences each year to provide increased visibility for young companies. Founded in 1994, EDC’s overall economic impact in South Florida is in excess of $300 million.
About the Research Park at Florida Atlantic University
Established in 1985, the 94-acre Research Park is home to 26 mature technology companies working in conjunction with the FAU College of Engineering and Computer Science, the FAU Charles E. Schmidt College of Medicine and the FAU College of Business. The Research Park hosts the Technology Business Incubator with 22 startup technology companies, each of which receives business and consulting services, with the goal of becoming established businesses and permanent residents of the Research Park. Also located at the Park are the New World Angels, a structured investor group; the Institute for the Commercialization of Public Research, a clearinghouse for technology transfer in Florida; and Enterprise Development Corporation of South Florida, a nonprofit organization that assists emerging science and technology companies.