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Mtech TAP Company FlexEl LLC Wins Maryland Incubator Company of the Year Award
FlexEl LLC, a company in the Mtech Technology Advancement Program incubator developing rechargeable, flexible, thin-film batteries, was named company of the year in the technology transfer category at the 2010 Maryland Incubator Company of the Year Awards.
FlexEl was recognized at a ceremony held June 15 in Baltimore, Md. The company was selected among 22 finalists.
"The State of Maryland's 2010 Maryland Incubator Company of the Year award is a great honor, and reflects the steady progress FlexEl is making in bringing our revolutionary technology to market," says FlexEl CEO Bob Proctor. "For the distinguished 49-person selection committee to choose us over the many other compelling technology companies in Maryland is a testament to the hard work and commitment of our entire team."
FlexEl won the University of Maryland's Invention of the Year award in 2008, and the high-technology category of the University of Maryland's $75K Business Plan Competition in 2009.
FlexEl is commercializing a flexible, ultra-thin battery with a thickness comparable to a business card. The batteries have higher storage capacity than any other battery available today, are non-toxic, and can be recharged wirelessly.
University of Maryland electrical and computer engineering professors Martin Peckerar and Neil Goldsman, along with research associate and alumna Zeynep Dilli, developed the company's patent-pending technologies.
Three additional Mtech finalist companies included one TAP incubator company and two in TAP's fast-track, early admission program called VentureAccelerator:
Five TAP companies have won Maryland Incubator Company of the Year awards in the past three years. Last year, Lurn Inc. won the technology service category. In 2008, AccuStrata Inc. won the best new incubator company category, TRX Systems won the homeland security company category, and Zymetis Inc. won the best technology transfer company category.
TAP winners in prior years also include Martek Biosciences, Digene Corporation and DataStream Content Solutions.
Sponsored by The Maryland Technology Development Corporation (TEDCO), RSM McGladrey, Maryland Department of Business & Economic Development (Maryland DBED), and Saul Ewing LLP, the Maryland Incubator Company of the Year awards are chosen in several categories by a selection committee of regional industry leaders and early stage investors. Award recipients benefit from publicity and gain greater credibility in the business, technology, and investment communities.
Selection criteria for a winning company includes: success in achieving its objectives, its technology or product development; growth in revenue or earnings; number of customers and significant customers; technology transfer; attraction of outside investors; and impact on the region. Award recipients were chosen based on their nomination form, onsite visits, and interviews with references.
June 17, 2010