ANDERSON, Ind. (Jan. 16, 2008) - Comfort Motion Technologies LLC, a software research and design firm located in the Flagship Enterprise Center here, announced today it received a grant from the Indiana 21st Century Research and Technology Fund to further develop software aimed at improving driver safety and comfort.
The state awarded the company a $1.085 million grant to further develop, test and commercialize its Vehicle Seat Multi-Position Software, a product that will enhance ergonomic benefits to vehicle drivers by making subtle automated changes that will redistribute the driver's body weight in the seat, reduce driver stress and fatigue.
"The 21st Century Fund is a powerful tool aimed at growing new and innovative companies like Comfort Motion Technologies that are working to bring cutting-edge technologies to the marketplace," said Nathan Feltman, Secretary of Commerce and chief executive officer of the Indiana Economic Development Corporation.
Developed in partnership with Rose-Hulman Ventures, Comfort Motion Technologies has refined the biomechanical algorithm that forms the foundation of its Vehicle Seat Multi-Position Software and has developed interface designs creating working prototypes.
"With the 21st Century Grant, Comfort Motion Technologies will continue product refinement with the Rose-Hulman Institute of Technology, Purdue University, Anderson University and Ball State University," said Tom D. Epply, senior vice president of engineering for CMT. "The 21st Century Grant will allow CMT to expand beyond the auto industry and into other transportation fields."
The company, whose software earned the endorsement of the American Chiropractic Association in 2007, has begun finalizing the design of its vehicle seat controller and creating a reference design for production.
"With help from the 21st Century Fund, CMT is developing and will now commercialize weight redistributive technology," said Art Patterson, executive director of the Flagship Enterprise Center. "Access to significant amounts of non-dilutive capital is a critical factor for the success of companies like CMT."
Established in 1999 and administered by the Indiana Economic Development Corporation, the 21st Century Fund was created to assist Indiana innovators in the development and launch of market-changing innovations. The fund focuses on entrepreneurial ventures with proven commercial market potential.
Comfort Motion Technologies is one of 51 businesses awarded a 21st Century Fund grant since January 2006. During that time, the fund has invested more than $65 million in high-tech Indiana entrepreneurial companies. Those businesses, which expect to create more than 6,000 new jobs, have leveraged the fund's grant monies to raise an additional $150 million in private funding.
About Comfort Motion Technologies LLC
Comfort Motion Technologies (CMT) is in the business of research, design and development of technology that enhances people's lifestyles. Holding offices in the Flagship Enterprise Center, CMT has developed Vehicle Seat Multi-Position software, which enhances the ergonomic value and function of existing power seat platforms. Using proven, proprietary research and design based on the biomechanics of the human spine, CMT's software makes driving more comfortable and enjoyable. For more information about Comfort Motion Technologies, visit www.comfortmotion.com.
About Flagship Enterprise Center
Created through a partnership between Anderson University and the City of Anderson, the Flagship Enterprise Center serves as a small business incubator and growth stage business accelerator. Through its client-specific Client Support Program, the FEC helps emerging companies to become independently viable. Located at I-69 and (exit 22) in Anderson, the FEC provides ongoing contact with management consultants, university researchers, student mentoring opportunities and access to capital. For more information, contact Art Patterson at (765) 622-0800 or visit the FEC Web site at www.flagshipenterprise.org.
About IEDC
Established under Governor Mitch Daniels in 2005 to replace the former Department of Commerce, the Indiana Economic Development Corporation is governed by a 12-member board chaired by Governor Daniels. Indiana Secretary of Commerce Nathan Feltman serves as the chief executive officer of the IEDC. Since the creation of the IEDC, the state has posted three consecutive years of record-breaking commitments for new jobs. The job growth comes as Bureau of Labor Statistics shows for the sixth consecutive month that Indiana has the lowest unemployment in the Midwest. For more information about IEDC, visit www.iedc.in.gov.
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Media Contacts:
Dr. Paul B. Phipps (Comfort Motion) - 317.238.6522- pbphipps@comfortmotion.com
Mitch Frazier (IEDC) - 317.232.8873- MFrazier@iedc.in.gov
Art Patterson (Flagship Enterprise Center)-765.622.0800- Director@FlagshipEnterprise.org
Link to this event: http://www.in.gov/newsroom.htm?detailContent=146_14289.htm