Florida Institute Funds NeuroNet Learning through Seed Capital Accelerator Program
Company Based on Technology Developed at Institute for Human and Machine Cognition
Gainesville and Boca Raton, FL – May 16, 2013 - The Institute for the Commercialization of Public Research (the Institute) announced today that it has finalized a funding agreement with NeuroNet Learning, providers of a learning enrichment program designed to help children improve motor skills, language, and information processing. Working with Florida’s research universities and institutions to support new company creation and job growth, the Institute’s Seed Capital Accelerator Program bridges early funding gaps, requiring recipients to raise private matching investment which enables them to reach critical development milestones and get to market quicker.
“NeuroNet is designed to help children improve motor skills and information processing through exercises that develop and strengthen neural networks in the brain, said Jonathan Rowe, Managing Director. “The NeuroNet educational model is based on applied and theoretical neuroscience research, and recent empirical data from schools implementing NeuroNet indicates that the program leads to significant improvements in reading and math scores on standardized tests.”
“Companies like NeuroNet are changing the way children engage, learn and retain information,” said Jamie Grooms, Institute CEO. “Funding through the Institute’s program will support product launch and early revenue generation, and position NeuroNet for future fundraising and success.”
About the Institute
Formed by the Florida Legislature in 2007, the Institute for Commercialization of Public Research is a non-profit organization that works collaboratively with the technology licensing and commercialization offices of Florida’s state universities and private research institutions to leverage a $2B+ research base and form investable companies that create clean jobs in new industries that are driving the global economy. Over 100 new company projects have been identified across the state, and in 2011 the Institute began deploying a $10M Seed Capital Accelerator Program which provides “repayable upon liquidity” loans to qualifying companies who must match the funding with private investment capital. Fifteen companies have been funded since the program’s inception.
About NeuroNet Learning, LLC.
NeuroNet Learning has created a suite of educational software programs that facilitate Learning through Movement, an approach based on recent advances in neuroscience that inform how the brain creates and strengthens neural networks. The software interface includes videos and graphics that children watch and interact with while they perform an array of language and motor skill exercises. The Company’s first round of $744,000 in funding comes from Gainesville Investors Ken and Linda McGurn, the Institute for the Commercialization of Public Research, and from the Florida Works HBOTT Grants Program. More information is available at www.neuronetlearning.com.
Chief Operating Officer
Institute for the Commercialization of Public Research