Two UVM Spin-Out Companies Secure New Funding
- By Office Technology Commercialization
The New York State Energy Research and Development Authority has awarded a contract totaling $1.2 million to MicroGen Systems, Inc. to commercialize its proprietary technology. The company, a spin-out from UVM’s Office of Technology Commercialization, specializes in the use of vibrational, microenergy harvester technology to power autonomous and wireless sensors, helping to monitor and reduce energy consumption, among other applications.
The award includes $500,000 of matching funds from MicroGen, which were already acquired via outside investment, a round which is still in progress, and investment from founders and management.
The funding will help commercialize the technology and launch initial products, establish business and strategic partnerships, expand customer applications and begin the manufacturing process.
MicroGen is led by a strong international management team with industry and start-up experience. Founded by Robert Andosca, CEO and CTO, the company is located and develops products in Ithaca, N.Y. at the Cornell Nanoscale Science and Technology Facility.
Vtrim, another spin-out from UVM’s Office of Technology Commercialization, recently raised an additional $250,000, completing its Series A funding round. "This funding supports Vtrim's current acceleration to widely disseminate online, expert-led, behavior modification programming for achieving and maintaining a healthy weight,” says Krista M.C. Conley, CEO. “We are building partnerships with institutions and individuals across America to deliver our clinical model for education and support that promotes a culture of eat less and move more.”
Since licensing Vtrim in February 2011, the company has raised a total of $975,000 for commercialization activity.
Vtrim is a rapidly growing, majority woman-owned company based in Middlebury, Vt. It has commercialized an online implementation of clinical treatment for weight loss and healthy weight management developed in the UVM Department of Nutrition and Food Sciences. The Vtrim program is unique in that it offers online education, peer support, and expert feedback designed to empower participants to change unhealthy behaviors and adopt eating and activity levels to support lifelong healthy weight. Students, staff and faculty at UVM currently enroll in more than 30 classes annually, contributing to a healthy and fit campus culture.