New Funding
December 11, 2008
I would like to congratulate the following companies on receiving funding from the State Department of commercialization and innovation, including my own, Transposagen Bio, which received 325K forgivable loan to help build our Lab facility. The other companies receiving funding were:
· MedX12, Inc. – Louisville; MedX12 provides health care claims “clearinghouse” services that enable practitioners to electronically file claims with any insurer in the United States. MedX12 also offers or is developing other products and services for health care provider offices, including printing and mailing of patient statements, eligibility verification, electronic medical records, practice management software and credit card processing. The company primarily targets small- to medium-size practices. The funds, awarded in the form of a forgivable loan for up to $160,000, will be used to purchase computer equipment and infrastructure, as well as to protect intellectual property.
MedX12 was also preliminarily approved by KEDFA for up to $360,000 under the Kentucky Jobs Development Act (KJDA) for a 3,550 square-foot expansion of its existing Louisville facility.
· LendingCycle, Inc. – Louisville; LendingCycle’s web-based software enables collaboration and access to real-time information for all parties involved in the loan origination process. This includes both internal and external parties, such as the lending institution, loan processing staff and partnering institutions. Each party is granted access only to the information pertinent to its role in the lending process. The core technologies used in this collaborative work-flow solution are translatable to many other sectors. The funds, awarded in the form of a forgivable loan for up to $119,000, will be used to obtain protection for the company’s intellectual property and software solutions.
Also, The Kentucky Science & Technology Corporation received additional funding in the amount of $3.3 million to continue the SBIR/STTR matching funding program. This program is an innovative one and should receive continuous funding each year.
