Anyone who has taken more than a few steps down the information highway knows how confusing and cluttered the Internet can be. With over a billion pages of unstructured textposted to the Internet daily, it is easy to understand the appeal of infoGIST™, the core family of software products offered by Dayton, Ohio-based Intelligent Algorithms.
NCIC CapitalFund invested in Intelligent Algorithms in 1997, making a $500,000 loan to the start-up operation. The company made its final payment per the terms of the loan agreement in November.
"Intelligent Algorithms has been a very consistent performer," said Frank Winslow, President of NCIC CapitalFund. "We feel that we have fulfilled our mission of making early stage investments in strategic, technology-based companies with this investment."
Delphi Hosts First Brake-by-Wire Design Review
In July, we told you about a project, managed by NCIC through a Technology Investment Agreement between the Air Force Research Laboratory, Delphi Automotive Systems and NCIC, that will demonstrate a state-of-the-art brake-by-wire system on a driveable vehicle by mid 2003. In mid-November, Bob Bowman of NCIC and Paul Flanagan of Delphi Automotive Systems welcomed attendees to the first Brake-by-Wire Design Review. NCIC has provided $1.1 million in funding to this project, which will be matched both by Delphi and the State of Ohio. The Air Force Research Laboratory will fund certain technology as well as share their fly-by-wire experience.
Pinnacle Products Group's Assets sold to Fusion Graphics Inc.
NCIC CapitalFund completed a secured party sale of the assets of the Pinnacle Products Group to a newly formed Centerville, Ohio company, Fusion Graphics Inc. Chuck Norman, Fusion Graphics' CEO, is an experienced and successful entrepreneur and we look forward to working with Chuck and his team to continue to grow this company.
The lure of Hilton Head, South Carolina and Naples, Florida has caused the loss of two key NCIC Board members: George Johnston and Kent Collins. George Johnston, retired vice president from General Motors and Delco GM has relocated to Naples. George has served as the NCIC Board Chair for the past seven years. Kent Collins, a Board member and Chair of the NCIC Investment Policy Committee, has been operating his consulting business, Collins & Co., for a number of years from both Dayton and Hilton Head. With his retirement from the NCIC Board, Kent will be spending more time on Hilton Head.
Hammond and Winslow attend Venture Captial Conference. Brian Hammond and Frank Winslow attended the Great Midwest Venture Capital Conference on November 28 and 29 in Indianapolis. NCIC has been a sponsor of this conference for the past five years. In addition to panel discussions on Start-up Funding, Mergers & Acquisitions, and University Technology Commercialization, the Conference featured presentations from 24 early-stage companies seeking venture funding.
Winslow appointed to Advisory Committee. Frank Winslow was recently appointed by the Montgomery County Commissioners to the County's Economic Development/Government Equity [ED/GE Fund] Advisory Committee. The ED/GE Fund provides $5+ million/year to assist townships, villages, and cities in Montgomery County to establish or expand commercial, industrial, or research facilities and to create/preserve jobs.
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