Technology Start Ups Choose Chesapeake Innovation Center For Acceleration

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Speech Conversion Technologies, Inc. and iNovex Information Systems, Inc. view the Chesapeake Innovation Center (CIC) as a channel into the homeland security and defense sectors. The CIC (http://www.cic-tech.org) is a business accelerator for homeland and national security technology, bridging emerging technology with government buyers.

We view the CIC as a catalyst that will help us grow to the next level.

Speech Conversion Technologies, Inc. and iNovex Information Systems, Inc. have chosen the Chesapeake Innovation Center (CIC) (http://www.cic-tech.org) to grow their businesses. The CIC is Anne Arundel County's business accelerator for homeland and national security technology, bridging emerging technology with government buyers. Speech Conversion Technologies, Inc. offers near real time voice to text technology. iNovex Information Systems, Inc. specializes in the strategy and management of information technology for government contractors and the intelligence community.

"The Chesapeake Innovation Center has taken a leadership position in assisting emerging technology companies early in their development process," said Anne Arundel County Executive John R. Leopold. "I am happy to welcome these entrepreneurs to the CIC and to Anne Arundel County."

Speech Conversion Technologies, Inc. (SCTI) (http://www.speechtechno.com), a CIC affiliate member company with twelve employees located in Silver Spring, MD, is developing patent-pending software to create near real-time, speaker independent, automated voice-to-text solutions with high accuracy and punctuation. This software will be used with any language to identify specific words as they are spoken. SCTI plans for multiple applications in commercial and security markets such as live transcriptions, translation, search and metadata tagging, subtitles, and video captioning. "SCTI participated in the CIC TechBridge Showcase in February which effectively connected us to potential defense and security sector clients," said Michael Garr, SCTI President. "Our CIC membership is the next step in getting connected to our potential customers in the government market."

iNovex Information Systems, Inc. http://www.inovexcorp.com, a CIC resident member company, focuses on systems engineering, data base development, and software engineering. The three founding partners have over 70 years of combined experience in the DOD marketplace. The growing three year old firm currently employs 15 professionals who design, develop and deploy secure, efficient, and dependable IT Systems that help move data around the world, from the office to the field. "Proximity to major defense contractors as well as the Nation's capital made the CIC a logical location for our business," said Gary Daigle, iNovex president and co-founder. "We view the CIC as a catalyst that will help us grow to the next level."

Services that the CIC will provide to both companies include access to potential government contractors and military buyers, and assistance with product development and growth. Sarah Djamshidi, CIC Executive Director, said "iNovex and Speech Conversion Technologies are both strong technology innovators that are great additions to the CIC portfolio and to the Anne Arundel County technology business community. The services these companies will receive from the CIC will facilitate commercialization of their technologies and hopefully accelerate the growth of their services."

About the Chesapeake Innovation Center
The Chesapeake Innovation Center (http://www.cic-tech.org) is America's first business accelerator for homeland and national security. The CIC identifies and screens early stage technology companies to

  • Connect innovative technology and business models with government agency and corporate     Partners who contract with the CIC to identify specific technology solutions
  • Nurture and support promising advanced technology businesses
  • Coach Resident and Affiliate Member companies to succeed in this market

CIC services include access to potential customer and partners, homeland and national security contractors and government agencies, hands-on coaching and assistance on business planning, product planning, market strategies and fundraising; access to CIC advisors, and access to furnished Class A offices in the technology corridor. The CIC has screened, vetted, and presented more than 130 companies for the CIC partners - ARINC, NSA, Boeing, and Northrop Grumman. Currently, the CIC has 5 resident and 2 affiliate member companies. Since its inception in 2003, CIC member companies have raised over $100 million in private capital and generated over $300 million in contracts.

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