Coachella Valley Innovation Hub Qualifies 3 Companies into 100 World’s Best Technology Startup Investors Forum

Palm Springs, CA (September 5, 2012) – A national panel of seed investors, venture capitalists and corporate licensing executives selected three Coachella Valley Innovation Hub (CViHub) clients to be presenters for the WBT 2012 Innovation Marketplace in San Diego. Presenters for the nation’s showcase of the largest collection of vetted and mentored start-up companies and pure technologies hail from top universities, labs, research institutions, incubators and innovation centers.

About 100 start-ups are chosen from a broad international field to be a WBT Innovation Marketplace presenter at their annual conference on October 24 – 26 at the San Diego Convention Center. Judging criteria is rigorous, CViHub managing director Joe Wallace explained. Presenters have to demonstrate that their technology or product has strong potential for high-growth as a commercial enterprise or a solution to a market problem. “Having three clients deemed as market-ready innovators is a major step forward for them and for the Coachella Valley iHub,’’ Wallace said.

“We are extremely proud to see three Coachella Valley nurtured start-ups in the national spotlight,’’ said Palm Springs Mayor Steve Pougnet. “We are equally proud of the progress the Coachella Valley Innovation Hub has made to mentor these promising candidates to market-ready status.’’

The three WBT 2012 presenters from the CViHub are:

• TransMedImage, a start-up business that intends to become the definitive medical image network for physicians, radiologists, hospitals, patients, insurance carriers, imaging companies and others. It plans to integrate proprietary technology, radiological services, electronic medical records and other services to store, retrieve and distribute information in a way that expedites and improves patient care across multiple platforms and locations.

• Indy Power Systems, developer of the Energy Router(tm), a patented hardware and software package that can optimize the flow of energy between different sources or loads, regardless of voltage. It is the only company blending energy into different types of storage devices, making it possible to use renewable energy like solar and wind at night or when the air is still. IPS has already delivered its first micro-grid management system. A battery cycler system will be installed in the fourth quarter, along with a second micro-grid system for Pratt Whitney Rocketdyme. IPS also signed a letter of intent with a manufacturer that is worth $5 million annually.

• EV Enterprises, developer of a prototype device the size of a key-fob that enables the presence of radiation to be detected. EVE’s product came about in response to a concern expressed by an organic food supplier who wanted to be able to offer their customers the security of knowing whether or not the food they were buying was radiation-free. The need for a practical, inexpensive and portable radiation detector came to the forefront in the aftermath of the Japanese Tsunami that caused radiation to leak from the damaged Fukushima nuclear reactor complex. Although it is hard to say what levels of contamination in our food and environment are ultimately dangerous enough to cause harm, the device provides shoppers with the ability to test for the presence of radiation as they go about their day-to-day activities.

“The fact that three start-up companies from the CViHub were chosen as presenters at the World’s Best Technology conference less than a year after that iHub was officially opened speaks volumes about the rapid positive impact that California’s Innovation Hubs can have when engaged local stakeholders take the bull by the horns and commit to the iHub concept”, said Louis Stewart, Deputy Director of California Go-Biz (California Governor’s Office of Business and Economic Development).

“The benefit of presenting at an internationally recognized forum represents an opportunity of a lifetime for start-ups,’’ Wallace said. At the deal-focused event, the CViHub clients will give a 6-minute presentation to over 100 seasoned venture investors and Fortune 500 licensing scouts from a variety of industries. Since the first WBT Marketplace in 2002, more than $786 million worth of early and seed-stage funding and licensing has been awarded to the more than 680 presenters from the U.S. and 26 other countries.

“We are impressed by the caliber of our clients,’’ said Cathedral City Mayor Kathleen DeRosa. “They typify the mission of the CViHub and the goals of the Coachella Valley Economic Partnership to diversify the economy through renewal energy initiatives.” “The Coachella Valley will be watching these companies, and all others nurtured by the Innovation Hub, as they continue to evolve and ultimately contribute to the vitality of our region,’’ Desert Hot Springs Mayor Yvonne Parks said.

The CViHub is a regional project funded by the cities of Palm Springs, Cathedral City and Desert Hot Springs and is an integral part of the blueprint strategy of the Coachella Valley Economic Partnership (CVEP).

To learn more about the Coachella Valley Economic Partnership and the Coachella Valley Innovation Hub, visit www.cvep.com or call (760) 340-1575.

About CVEP: Coachella Valley Economic Partnership is an action-oriented, non-profit corporation dedicated to expanding and diversifying the economy of the Coachella Valley desert region while maintaining the quality of life for a resort environment. CVEP has been devoted to strategies to attract, expand and retain business and workforce development. Now, it has broadened its focus to plan and nurture new job clusters, such as: Healthcare and Life Science, Clean Technology/Energy, Supply Chain Management/Logistics and Creative Arts, Media & Design.

About the Coachella Valley Innovation Hub:
The CViHub housed in the Rabobank Regional Business Center, along with CVEP, offers services, programs and incentives to attract and cultivate new, clean technology business across multiple fields. Those fields include solar energy, wind power, green building techniques, water filtration and conservation technologies, biofuel and geothermal production and smart grid technology.