Rocky Hill, Conn., January 23, 2008 – Connecticut Innovations (CI), the state’s quasi-public authority responsible for technology investing and innovation development, today announced that it has engaged MobileBI, LLC, of Wallingford, Conn., as a client of its Pre-Seed Support Services Program. As a Pre-Seed Support Services Program client, MobileBI will receive CI’s assistance in identifying services to advance the development and commercialization of its key product, MobileBI.
MobileBI is an end user Business Intelligence (BI) reporting tool with the unique capability of being able to generate reports from existing databases, with no programming, that can be mobile ready with just one click. MobileBI allows companies to convert data into a report format and provide the end user with reports at both the desktop and PDA level.
“CI’s support at this critical point in our company’s development is a key factor in our ability to achieve milestones,” said Joe Grispo, chief executive officer of MobileBI. “The management team is actively searching for the best delivery vehicles to bring MobileBI to the marketplace in 2008. With this funding from CI, we can continue to explore ideal distribution channels in order to attract additional clients to grow the company.”
CI’s Pre-Seed Support Services Program helps innovative, high technology Connecticut entrepreneurs identify and fund support services such as intellectual property and technology reviews, business plan development and market analysis. CI provides mentoring, coordination of services and limited funding for business assistance to prepare technology companies for future investments. MobileBI is the third company to receive assistance through the Pre-Seed Support Services Program since its launch in May 2007.
“This funding from our Pre-Seed Support Services Program will enable the management team at MobileBI to focus on bringing the BI tool to the marketplace in 2008,” said Peter V. Longo, president and executive director of CI. “With a market potential of over $2 billion, the BI software licensing market provides MobileBI with an exciting market opportunity. CI’s funding will allow the company to undertake essential market analysis and business development thus enabling it to fully meet its market potential.”
The mobility feature of the BI reporting tool provides a competitive advantage – reports can be sent to any PDA with just one click. Without the need for additional software, data and reports can be in the hands of those who need them any time and any place. MobileBI can be used purely as an ad-hoc reporting and BI tool or it can be easily embedded into a client’s product.
“Supporting emerging technology and software companies such as MobileBI is critical to continuing economic expansion in Connecticut,” said Governor M. Jodi Rell. “Connecticut Innovations is a valuable resource the state has made available to emerging companies. By providing both financial and business-related assistance to companies, CI is playing a key role in Connecticut’s economic success.”
About Connecticut Innovations, Inc.
Connecticut Innovations (CI) is a quasi-public organization dedicated to driving a vibrant, entrepreneurial, technology-based economy in Connecticut. CI stimulates high-tech growth by investing in: early-stage Connecticut technology companies; university/industry research collaborations; technology transfer; and, clean energy initiatives through the Connecticut Clean Energy Fund. CI also fosters collaboration among government, business, nonprofit and academic organizations to advance technology growth and promotes public policies consistent with CI’s mission. For more information on CI, please visit www.ctinnovations.com.
About MobileBI
MobileBI is a privately held organization founded by technical and business professionals to provide user friendly BI tools to enhance the productivity, efficiency and profitability of their clients. MobileBI is committed to providing companies with an end user reporting tool capable of generating and displaying reports on their PDAs from existing enterprise databases, with no programming. For more information about MobileBI and its management team, please visit www.MobileBILLC.com.
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