Conexxus is Invited to GAP Fund and Collects ICC Concept Grant
September 10, 2007
Conexxus, LLC accepts the invitation to the GAP Fund
application process, presented by Kentucky Science
and Technology Corporation (KSTC).
The Gap Fund is part of the Kentucky Enterprise Fund, which is managed by KSTC to provide seed and early-stage capital to small and medium-sized Kentucky companies with high-growth potential. The GAP Fund helps companies bridge the gap between the time after which they have received pre-seed/early stage seed funding and when they become "venture-ready." Awards are up to $400,000 and are provided through a qualified financing exceeding one million dollars ($1M). Only Companies invited by KSTC are able to apply for the GAP Fund.
As previously announced, Conexxus, LLC was honored as a recipient of the ICC Concept Grant Award from Kentucky Science and Technology Corporation (KSTC). The $25,000 ICC Grant was designated for reimbursement of salaries and wages incurred during the development of Conexxus’ unique and competitive core technology, the innovative compliance content management software solution serving finance professionals, and to finalize preparation for its 2007 market launch. Conexxus successfully completed the requirements pertaining to the grant and has received the final installment of the award.
Commenting on the announcement, Matthew McGarvey, Vice President, Commercialization and Venture Finance of KSTC, said, “We are pleased to aid the development of the Conexxus core technology with an ICC Concept Grant, which helped bring Conexxus’ core technology to market. Conexxus has demonstrated an ability to deliver and we are excited about their market opportunity. GAP Fund applicants undergo a rigorous due diligence process by KSTC and we look forward to continuing our work with Conexxus.”
Jeffrey T. Reibel, Founder and Chief Executive Officer of Conexxus, said, “It is with great honor that we accept the invitation to apply for the GAP Fund and continue working with KSTC. The nomination further supports the strength and viability of the Conexxus concept and is a tribute to the efforts of our development team in its efforts to bring the Conexxus solution to the market. As demand grows, the GAP Fund can significantly boost our ongoing efforts to take our products to the regional and national levels; we will work hard to win the GAP Fund. We further thank KSTC for initial support through the ICC Concept Grant Award and for the invitation to apply to the GAP Fund.”
About Kentucky Science and Technology Corporation
The Kentucky Science and Technology Corporation is a private, nonprofit corporation committed to the advancement of science, technology and innovative economic development founded on Kentucky know-how. KSTC is a fast-paced leader with a reputation for developing and managing creative initiatives in education, economic competitiveness and scientific research. Established in 1987, KSTC is governed by a Board of Directors comprised of leaders from business, education, and government. KSTC is an entrepreneurial company dedicated to enhancing the capacity of people, companies and organizations to develop and apply science and technology and compete responsibly in the global marketplace. To learn more, visit www.kstc.com.
About Conexxus
Conexxus is a provider of software products serving finance professionals in the Compliance Content Management industry. The Company provides a wide range of integrated product offerings across the electronic document retention, financial workflow, and financial compliance markets. For more information about Conexxus, visit www.conexxus.com.
The Gap Fund is part of the Kentucky Enterprise Fund, which is managed by KSTC to provide seed and early-stage capital to small and medium-sized Kentucky companies with high-growth potential. The GAP Fund helps companies bridge the gap between the time after which they have received pre-seed/early stage seed funding and when they become "venture-ready." Awards are up to $400,000 and are provided through a qualified financing exceeding one million dollars ($1M). Only Companies invited by KSTC are able to apply for the GAP Fund.
As previously announced, Conexxus, LLC was honored as a recipient of the ICC Concept Grant Award from Kentucky Science and Technology Corporation (KSTC). The $25,000 ICC Grant was designated for reimbursement of salaries and wages incurred during the development of Conexxus’ unique and competitive core technology, the innovative compliance content management software solution serving finance professionals, and to finalize preparation for its 2007 market launch. Conexxus successfully completed the requirements pertaining to the grant and has received the final installment of the award.
Commenting on the announcement, Matthew McGarvey, Vice President, Commercialization and Venture Finance of KSTC, said, “We are pleased to aid the development of the Conexxus core technology with an ICC Concept Grant, which helped bring Conexxus’ core technology to market. Conexxus has demonstrated an ability to deliver and we are excited about their market opportunity. GAP Fund applicants undergo a rigorous due diligence process by KSTC and we look forward to continuing our work with Conexxus.”
Jeffrey T. Reibel, Founder and Chief Executive Officer of Conexxus, said, “It is with great honor that we accept the invitation to apply for the GAP Fund and continue working with KSTC. The nomination further supports the strength and viability of the Conexxus concept and is a tribute to the efforts of our development team in its efforts to bring the Conexxus solution to the market. As demand grows, the GAP Fund can significantly boost our ongoing efforts to take our products to the regional and national levels; we will work hard to win the GAP Fund. We further thank KSTC for initial support through the ICC Concept Grant Award and for the invitation to apply to the GAP Fund.”
About Kentucky Science and Technology Corporation
The Kentucky Science and Technology Corporation is a private, nonprofit corporation committed to the advancement of science, technology and innovative economic development founded on Kentucky know-how. KSTC is a fast-paced leader with a reputation for developing and managing creative initiatives in education, economic competitiveness and scientific research. Established in 1987, KSTC is governed by a Board of Directors comprised of leaders from business, education, and government. KSTC is an entrepreneurial company dedicated to enhancing the capacity of people, companies and organizations to develop and apply science and technology and compete responsibly in the global marketplace. To learn more, visit www.kstc.com.
About Conexxus
Conexxus is a provider of software products serving finance professionals in the Compliance Content Management industry. The Company provides a wide range of integrated product offerings across the electronic document retention, financial workflow, and financial compliance markets. For more information about Conexxus, visit www.conexxus.com.