NVTC Member Companies and FastTrac Graduates Secure CIT GAP Funds Investments
The Center for Innovative Technology (CIT) GAP Funds has invested in NVTC member companies Efficient Photon and Ringio. Both companies are graduates of The Entrepreneur Center @NVTC’s FastTrac program and have presented their business concepts at the Entrepreneur Center’s Entrepreneur Spotlight program.
Efficient Photon graduated this past spring from the FastTrac program, and presented at Entrepreneur Spotlight on May 5, 2011. The company designs and builds highly energy efficient, long-lasting light fixtures for high-bay warehouses and other industrial applications. The company’s lead product, the EverBright™400 luminaire device, reduces power consumption by up to 70 percent, while maintaining light levels for no less than five years of continuous usage, resulting in significantly less downtime due to maintenance for customers.
Ringio is a graduate from the Entrepreneur Center’s Fall 2010 FastTrac program, and presented its business concepts on November 3, 2010, at Entrepreneur Spotlight. The company’s core differentiator is its ability to pull all available real-time data on an incoming caller from CRM systems and social media platforms, using computer software of smart phone applications, to improve both the customer’s and company’s call effectiveness. The service offers customers a toll-free number that automatically answers and routes their phone calls in a personalized, professional manner, to the preferred phone of the most relevant employee.
Since its 2005 launch, CIT GAP Funds has placed more than 50 investments across the Commonwealth. Congratulations to Efficient Photon CEO/Founder Jeff Myers, and to Ringio Co-Founder and CEO Sam Apracio and Co-Founder, President and CTO Ashish Soni, for earning these investments.