Gary Rosensteel
NuCoPro
P.O. Box 867
McMurray, PA 15317-6867
412.491.7747
grosensteel@nucopro.com
Press Release
March 31, 2009
FOR IMMEDIATE RELEASE
NuCoPro moves technology out of the University of Pittsburgh
Pittsburgh - NuCoPro
The University of Pittsburgh Office of Technology Management engaged NuCoPro for a five month period in the second half of 2008 to work on spinning two technologies out of the university and into the commercial arena.
Gary Rosensteel, NuCoPro principal, talked to well over a hundred contacts across the US and did significant research to identify target markets for these technologies, along with identifying potential licensees. Unfortunately, one of the technologies was too limited to be viable in the commercial space, but the other has a huge potential.
NuCoPro was able to identify a high-potential market, find an entrepreneur from Silicon Valley who was interested, and take the project through to an option being taken on the technology, the Sonic Flashlight, with the intent to form a new company to commercialize the product. Development of the alpha stage prototype is underway and it is anticipated the new product will be brought to market within a year.
The University is pleased with the terms of the licensing agreement and is looking forward to an ongoing association with the Silicon Valley entrepreneur. When asked if he was satisfied with the efforts of NuCoPro, Marc Malandro, Associate Vice Chancellor, Technology and Innovation Commercialization at Pitt said, "I'll take a 50% return on a short term project any day!"
NuCoPro works with startup companies in all types of industries to assist them in achieving the goal of transitioning from a startup to an emerging company. We provide strategic advice and services to properly position our clients for presentation to investors and/or customers, and then connect them with interested parties.
NuCoPro also works with emerging companies to aid them in transitioning to the next phase through assistance such as: leveraging their expertise into new areas; realigning their operations; and seeking expansion capital.