Technology Shines at 2009 NJTC Venture Conference
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SOMERSET, N.J., March 30 /PRNewswire/ -- The Palace was the backdrop for technology's royalty last week when the New Jersey Technology Council (NJTC) crowned the "Best in Show" at the 2009 NJTC Venture Conference. The annual daylong Venture Conference drew a crowd of more than 600 entrepreneurs and investors looking for the next great deal and over 60 companies from various sectors including life sciences, IT, energy/environment, telecommunications and nanotechnology ready to show off their exciting technologies. Princeton, N.J.-based SterraClimb took the prize for "Most Innovative Product/Service" and eZCom Software Inc. of Englewood, N.J. was named "Best Information Technology Company." CytoSorbents of Monmouth Junction, N.J. received the award for "Company Most Likely to Succeed." The medical device company is currently in clinical trials to treat severe sepsis with its novel CytoSorb(TM) blood purification device. "The NJTC Venture Conference has the reputation as one of the premier regional showcases and networking opportunities for rising companies. We feel extremely honored to have been chosen as 'Company Most Likely to Succeed' by the conference judges and will work hard to try to make this a reality," said Philip Chan, M.D., CEO of CytoSorbents. In an economy where many entrepreneurs are working double-time to find any available funding, the crowd at this year's Venture Conference was well worth noting. Maxine Ballen, president and CEO of the NJTC, said there is a lot of money out there but investors are being extremely careful about the risk to value ratio. "The Venture Conference is the perfect forum for these companies to showcase for a large group of investors -- all in one place. And, from what we were told," Ballen said, "many investors were extremely excited by what they saw." In fact, Edison Venture Fund Partner Joe Allegra commented: "Entrepreneurs are the strength of our economy. We are very bullish about a number of the young companies that we met at the NJTC Venture Conference." The NJTC offers a host of premier financing conferences throughout the year but, in fact, many investors agree the Venture Conference is the No. 1 financing event in the Mid-Atlantic region. Katherine O'Neill, executive director of Jumpstart NJ Angel Network, said this year's conference was excellent as usual because "there are always interesting cutting edge technology companies" that may not otherwise have an audience with qualified investors. The 2009 NJTC Venture Conference Award Winners: Most Innovative Product/Service -- SterraClimb, Princeton, N.J. / www.sterraclimb.com Most Capital Efficient Company -- AcquiSci Inc., Newark, N.J. / www.acquisci.com Best Life Sciences Company -- NanoScan Imaging, Lansdale, Pa. / www.nanoscanimaging.com Best Information Technology Company -- eZCom Software Inc., Englewood, N.J. / www.ezcomsoftware.com Best Communications/Electronics Company -- The Talk Market, Newark, N.J. / www.talkmarket.com Best Advanced Materials/Nanotechnology Company -- Flexible Stenting Solutions, Inc., Eatontown, N.J. / www.flexiblestent.com Best Green Company -- UV Solutions, Inc., Newark, N.J. / www.uvsns.com Best Renewable Energy Company -- Solaris Cybernetics LLC, Lyndhurst, N.J. / www.solariscybernetics.com Best Early Stage Company -- Sonastics, Vestal, N.Y. Best Management Team -- Sword Diagnostics, Summit-Argo, Ill. / www.sworddiagnostics.com People's Choice -- DocInsight, Wayne, N.J. / www.docinsight.com VCs' Choice - Xipto, Newark, N.J. / www.xipto.com Company Most Likely to Succeed -- CytoSorbents, Inc., Monmouth Junction, N.J. / www.cytosorbents.com "These winning companies are ones to watch in 2009," said NJTC's Ballen. "They are great examples of the best this region has to offer. In fact, this year's Venture Conference attracted some of the most exciting companies we've seen in years as well as an incredibly impressive collection of the region's most prestigious investors." Ballen said the NJTC Venture Conference is one of the Council's most exciting events. "This is the event I look forward to all year long because the exhibiting companies and the investors who come out to see them are a testament to the NJTC's work. We strive to create a business climate where technology can flourish and the Venture Conference is a day when we are able to see the fruits of our labor as a community." The NJTC is a membership organization dedicated to supporting technology companies in the region. In addition to a full calendar of programs and events related to various tech sectors, upcoming events include the NJTC Clean Energy Summit on May 1 in Princeton and the annual CFO Awards on June 12 in Jamesburg. Visit www.njtc.org for information about these events, NJTC membership and the NJTC calendar of programs. SOURCE New Jersey Technology Council Bari Faye Siegel of New Jersey Technology Council, +1-732-256-4342