A little bit of funding can go a long way for a startup learning to fly.
For Metis Secure Solutions, makers of high-tech early warning alert systems for universities and businesses, the Kick-Start grant from the Greater Oakland Keystone Innovation Zone (GO KIZ) was the boost it needed to get off and growing.
Two local Keystone Innovation Zones have announced funding. GO KIZ has announced $95,000 in funding from the Ben Franklin Technology Development Authority, part of a $1.7 million investment across the state to support innovative startups and to commercialize energy efficient, life-saving technologies. The Pittsburgh Central Keystone Innovation Zone (PCKIZ) has received $100,000 from Ben Franklin as well.
The funding source was placed on hold in late 2009 due to economic constraints.
The money from KIZ helped Metis Secure land its first crucial contract with Slippery Rock University, recalls Justin Driscoll, coordinator. “Slippery Rock (the corporate partner) was interested in making a major investment in the system. This gave Slippery Rock the confidence that Metis had good technology. Look how the company has grown.”
The GO KIZ Kick-Start Partnership program will make several grants, usually $10,000 to $15,000 each, available this year. The partnership works by putting large companies in the region into strategic relationships with local startups. Established companies may serve as beta customers, clients or investors in order to demonstrate the efficacy of a start-up’s new product or service.
The partner companies gain strategic advantages by being early adopters of the latest technologies or business processes; the startups are able to document successful implementation and develop case studies.
To apply, visit GO KIZ.
Source: Justin Driscoll, GO KIZ
Writer: Deb Smit
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