The 2007 NorTech Innovation Awards ceremony was held this morning at LaCentre.  The awards recognize an innovative product, a new procedure that improves productivity, or any concept that enhances a business’s value or a non-profit’s ability to carry out its mission.

From the awards agenda:

“The NorTech Innovation Awards honor breakthrough innovations in a variety of technical fields.  Each year dozens of individuals and organizations nominate outstanding inventions.  This year seven disruptive innovations have been selected that have exceptional market potential.  In addition, NorTech feels that these innovations and inventors will help fuel the region’s 21st century economy.”

NEOinc is proud to have two of it’s own amongst the winners:

• SpineMatrix Inc. – This spinal imaging company has developed a device that can pinpoint the source of lower back pain, called Computerized Electrophysiological Reconstruction of Spinal Regions, or CERSR. After the non-invasive diagnostic process, the patient can be directed to the appropriate diagnostic, therapeutic and surgical procedures.   SpineMatrix, Inc. is located in the Akron Global Business Accelerator.
• Nanomimetics Inc. — The Cleveland company created unique nanocoatings for a variety of medical and industrial applications. Its patented technology can improve medical device effectiveness by increasing compatibility with the human body.   Nanomimetics, Inc. is located in the MAGNET Business Incubator.

Congratulations to SpineMatrix, Nanomimetics, and the other winners.

A NEOinc tenant in the MAGNET (Cleveland) incubator has been in the news lately.  As reported by the Plain Dealer, Aria Analytics just received $350,000 in additional funding to continue their development of technology using sound waves to discern the characteristics of liquids as they dry. 

Aria’s technology is based on research done at the Russian Institute of Applied Physics, transferred to the United States by 5iTech LLC, another MAGNET incubator tenant.  5iTech started Aria Analytics in 2003 based on this technology.

NEOhio.org recently interviewed Chris Vacca, who heads the company.  (NEOhio.org is a video blog focused on entrepreneurism and innovation in Northeast Ohio).   You can view the interview here.

NEOinc and MAGNET are very proud of Aria Analytic’s achievements and support their continued success.

Where does the fastest growing software company, as rated by Inc. Magazine, have their headquarters?  Austin?  Silicon Valley?

Wrong - Youngstown, Ohio in the Youngstown Business Incubator; part of the NEOinc collaborative.

That’s right, Turning Technologies, with close to 100 employees, 10,000 customers and a new office in London, is based right here in Youngstown at the YBI.  Oh, did I mention the reason they made the top of the Inc. list is their 3,907% growth rate?

Check out this short (6 minute) video over on Brewed Fresh Daily.  Jim Cossler, Chief Evangelist of YBI supplies an overview of the incubator, why they are successful and more information on Turning Technologies.  Jim also shares details on the exciting growth plans already underway to create a technology cluster in downtown Youngstown.  With $9M committed and bocci courts in the plans, this probably isn’t the Youngstown you think you know.

The Akron Global Business Accelerator was in the news recently, hosting Akron Mayor Don Plusquellic’s press conference Thursday, August 23rd. 

Mayor Plusquellic was on hand to join in a grand re-opening of the facility under it’s new name (the facility used to be called the Akron Industrial Incubator).  The AGBA is a complete success story for Akron, with 64 graduate companies (with a current employment of 747), 35 current companies with a total payroll of $4.8 million (each company contributing, on average, $129,400 in payroll taxes).

To read the full article, with comments by Mayor Plusquellic and AGBA Director Mike LeHere, click here.