connecting people to drive innovation
Los Angeles, CA (PRWEB) August 27, 2009
The National Science Foundation (NSF) has announced that Larta Institute (http://www.larta.org), one of the best-known and largest commercialization services companies in the U.S., has been tapped to design and manage a commercialization assistance program aimed at small-company grantees across the U.S. NSF joins other U.S. agencies, specifically the National Institutes of Health, the United States Department of Agriculture, and the Telemedicine Advanced Technology Research Center (TATRC), in recognizing the Institute's work on behalf of innovation and commercialization.
The program, to be called NSF CAP 1, will launch in September 2009, targets NSF's Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) Phase I grantees, and is focused on advancing their competitiveness for Phase II grants.
By helping them with their commercialization plans, a key component of their funding applications, they also develop strategies and tactics for engaging customers, partners and investors, which are critical to their long-term success. "Commercializing technology created in the minds of emerging entrepreneurs is key to our nation's competitiveness," said Rohit Shukla, CEO of Larta Institute." "We are proud and humbled by this award. Our mission, to ensure that no innovation goes uncovered, is a fitting response to the need expressed in the NSF program," he added.
The key to Larta's approach to commercialization on behalf of the thousands of innovators it has assisted over the years is a commitment to 'mass customization'. This recognizes the importance of the personalized, individual inputs necessary for each company to achieve the greatest outcomes. "Commercialization is a body contact sport," says Shukla, who founded the organization in 1994, "and we have assembled a team of wrestlers who have the interest, the passion and the connections to help the companies under our charge reach milestones otherwise unattainable on their own."
Approximately 100 companies will be assisted in a 6-month cycle by Larta Institute, which is based in Los Angeles, California and whose advisors and mentors form part of a global network of experts that Larta has nurtured over the 15 years since its inception. In keeping with NSF's broad funding mandates and mission, the grantees themselves are drawn from a range of industry sectors, including Electronics, Software, Materials and Biochemical technologies.
Larta's fame extends to overseas clients too. It has worked with innovators in over 15 countries across the world on a similar basis. Recently, it announced the development of a commercialization assistance program for Malaysian innovators in the biosciences and agriculture sectors, which will commence in October 2009.
About Larta Institute
Larta Institute is a commercialization "hub" whose tag line, "connecting people to drive innovation" has become the centerpiece of its practice. Companies assisted by Larta have raised over $1.5 billion in outside capital, and have notched up over 1,000 deals, and 3,500 strategic and other partnerships. Larta manages national programs on a multi-year basis for the National Institutes of Health (NIH) and the United States Department of Agriculture (USDA) and has developed similar programs for the Defense Advanced Research Projects Agency (DARPA) and the National Institute of Standards and Technology (NIST). Larta's customers include government and state agencies, universities, large companies, and regional partners around the world. The company is headquartered in Los Angeles, California. Larta's practice areas and capabilities are described further at http://www.larta.org.
The National Science Foundation (NSF) is an independent federal agency created by Congress in 1950 "to promote the progress of science; to advance the national health, prosperity, and welfare; to secure the national defense…" With an annual budget of about $6.06 billion, they are the funding source for approximately 20 percent of all federally supported basic research conducted by America's colleges and universities. In many fields such as mathematics, computer science and the social sciences, NSF is the major source of federal backing. NSF's Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs reside under NSF's division of Industrial Innovation and Partnerships (IIP).