Intelligent Systems Technology, Inc. Wins
CalTIP Grant for Technology Commercialization
Santa Monica, CA, (August 10, 1998) - Intelligent Systems Technology, Inc. (ISTI) announced today that it has been awarded the highly competitive California Technology Investment Partnership (CalTIP) grant. This six year-old program managed regionally by The Los Angeles Regional Technology Alliance (LARTA) provides firms state grants to match federal technology awards.
ISTI's President and CEO, Dr. Azad M. Madni, credits the company's ability to find and fill an unmet need in the marketplace for this award. He said, "As companies employ geographically distributed teams to create sophisticated products, reducing collaboration cycle times is a key aspect of time-to-profit. ISTI's collaborative process management technology squarely addresses this problem."
"This seed funding provides a shot in the arm for companies that are just below venture capitalists' radar screens," said Cliff Numark, LARTA's program director, "and they help showcase the raw technological talent of this region."
These funds will be used to commercialize and market ISTI's ProcessEdge Enterprise Suite and TeamEdge corporate initiative planning and management products.
Intelligent Systems Technology, Inc. is at the forefront of the new breed of IT companies specializing in integrated web-based solutions for corporate initiatives planning and management.
The company's flagship products include The ProcessEdge™ Enterprise Suite and TeamEdge™. The company's SolutionEdge™ Services are directed to providing strategic planning, training, consulting, and application integration services. For more information, contact ISTI at isti@intelsystech.com or visit the web site at www.intelsystech.com.
The ISTI logo, ProcessEdge, TeamEdge, and SolutionEdge are trademarks of Intelligent Systems Technology, Inc.