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Company gets $100K from Seed Fund |
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Friday, 22 August 2008 |
For the Daily News
Spatial Information Solutions Inc. (SIS), of Starkville, is the recipient of the first New Venture Development investment from the Mississippi Seed Fund, Mississippi Technology Alliance President and CEO Dr. Randy Goldsmith announced Wednesday.
“Spatial Information Solutions is an impressive early-stage company with a business model and products with the potential for growth,” said Goldsmith. “The Seed Fund was established to help companies like SIS grow into ventures that create jobs and opportunities for Mississippians.”
The Mississippi Seed Fund was established by the Mississippi Legislature to provide high tech start-up companies with access to pre-seed financing, early stage risk capital and product development capital to stimulate and accelerate the development of high-performance, technology-based business ventures in Mississippi. The Mississippi Seed Fund is managed by the Mississippi Technology Alliance. SIS will receive $100,000 from the fund. Recipients must have a cash match from accredited investors to obtain funding.
“Working with MTA has been a rewarding growth experience for our company,” said Dr. Charles O’Hara, president of Spatial Information Solutions Inc. “The people at MTA have been tremendously helpful from our initial application to the Angel Network to presenting to the networks of angel investors and at the Mississippi Conference on High Technology.
Throughout the process, MTA has provided significant encouragement, guidance and support to SIS. SIS is honored to be selected by the Mississippi Seed Fund program. We know that there is a lot of hard work to be done in building our company and that we have a good partner in MTA. This selection by MTA represents a major milestone in our efforts to commercialize new map accuracy enhancement software technologies.”
Spatial Information Solutions delivers services, software and technology development activities that fill critical technology gaps in the mapping industry. SIS initially formed as a Mississippi University Research Authority company in conjunction with Mississippi State University.
The Mississippi Technology Alliance is a non-profit organization with the mission to drive innovation and technology-based economic development for the State of Mississippi. For more information, visit http://www.technologyalliance.ms.
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Last Updated ( Saturday, 23 August 2008 )
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