The Authority Board Approves Funding for a New Software Platform to Help Hospitals, Commercialization of Nanotech and More
Tuesday, Jul 28, 2009
In a special July meeting, the Arkansas Science & Technology Authority’s Board of Directors met to discuss everything from the commercialization of a new cross-platform software solution to the funding of a firm that that develops a chemical agent found in artificial sweetener.
The Board approved a Technology Development Program Grant to Soy Pectin, Inc, a Fayetteville-based company, that has developed a patented process for producing food grade pectin from soy bean hulls. Pectin is a polysaccharide used in artificially sweetened beverages, syrups, ice cream, sherbet and assorted jams. Pectin, Inc will use the funds to enlarge their facilities and manufacturing workforce.
A Seed Capital Investment was awarded to Unityware for the commercialization of their innovative software platform. It allows different systems to exchange and share data even when the systems aren’t designed to work together. The company, based in Carlisle, is targeting hospitals as potential clients since they use complex software applications from different vendors.
The Board also endorsed funding of a new nanotechnology training program. The WiNS Center Nanotechonlogy, Healthcare Education and Training Program is scheduled to be held in late July. The three day workshop is being hosted by the Arkansas ASSET Initiative to provide training to WiNS (Wireless Nanosensors and Systems of Arkansas) researchers in research projects involving nanotechnology and healthcare related areas.
Other approvals included a STEM Empowerment Grant that will allow the University of Arkansas at Little Rock to fund the position of Educational Outreach Coordinator and Professional Development Supervisor, and funding of a media contract between Arkansas Manufacturing Solutions and Stone Ward.
The Board also voted to approve updates to the Arkansas EPSCoR Advisory Committee.
Ms. Cynthia Moten of the Arkansas Department of Higher Education will be taking over for Dr. Karen Wheeler, and Dr. Steven Ruge of the University of Central Arkansas will added as an alternate to Dr. Steven Addison.
Wrapping up the meeting, the Board approved a grant for $750, 000 from the Governor’s General Improvement Fund to go to the Arkansas Development Finance Authority’s Venture Capital Investment Trust. The monies will be used for the commercialization of nanotechnology.
The Authority’s next scheduled Board Meeting will be September 18, 2009.
