Novotorium will focus on incubating startups working on wellness and healthy lifestyle businesses, as well as those that complement these types of businesses.
Langhorne, PA (PRWEB) August 15, 2012
Nearly one year after its inception, business incubator Novotorium is doing what many startup ventures do – pivoting its business based on market experience and emerging business synergies, according to Gary Baron, Chairman of Baron Innovation Group, which owns and funds Novotorium.
“During our first year of operation, we’ve learned a tremendous amount about the startup environment in Philadelphia, and we can see more clearly how we can achieve greater success and make a bigger impact,” according to Baron. “Going forward, Novotorium will focus on incubating startups working on wellness and healthy lifestyle businesses, as well as those that complement these types of businesses. We’ll continue to support other entrepreneurial ventures through our participation in programs in the region.”
Novotorium will work closely with Baron’s health and nutrition startup Healthy Food Now; startups in Novotorium’s incubation program, Zuppler and TravelCare; and Baron’s core business, Voice Systems Engineering, which builds technology platforms that allow consumers to find, transact and build relationships with one another.
To assure business development continuity throughout the pivot, Baron will become the interim Managing Director of Novotorium while he recruits a seasoned senior executive from the health, wellness and nutrition community to fill that critical role on a permanent basis.
Novotorium’s founding general manager, Mike Krupit is leaving the company effective August 31 to begin the next chapter in his successful entrepreneurial career.
“Starting Novotorium has been very rewarding, and I am looking forward to continuing to working with great startups,” said Krupit. “Novotorium’s first year has been a tremendous experience for all those involved – our team, entrepreneurs, partners, and the community. We’ve been successful in becoming a positive influence and helping so many young companies. As Gary and our team work to put together their new focus and structure, I am confident that exciting things will come as Novotorium evolves, and I look forward to beginning my next entrepreneurial endeavor soon.”
Novotorium’s other team members, Maria Collins, Alberto Janza and Chuck Hall will continue working with entrepreneurs participating in Novotorium.