{ 2013
INNOVATION DEPOT
ANNUAL REPORT
SELECTED HIGHLIGHTS
IT/SOFTWARE ThinkData
Essnova
Educator Technologies
Suture Health
ThinkData developed Samford University’s new business intelligence and data analyst certificate program – a first in the State of Alabama.
Essnova founder Sridhara Gutti was selected as one of the Birmingham Business Journal’s Top 40 under 40, with Essnova continuing to grow staff and clients.
Educator Technologies began the development of Speech Development Cloud, a new software allowing parents and therapists to interact and improve the outcome of the child’s speech therapy.
Suture Health completed a 6-month case-study with a leading home health agency and began integration efforts with top industry vendors as a major distribution channel.
Malcovery
Nutripilot
Malcovery Security grew rapidly in terms of headcount and sales, more than doubling in staff from 7 to 16 employees and securing ten “Fortune 500” companies as customers.
NutriPilot launched its software platform and was selected as one of the winners of the Alabama Launchpad competition with $38k in capital investment.
Solovis
Instagift
Solovis developed and launched a proprietary institutional investment software platform in August and signed its first major client in September.
Instagift launched a new e-gift card and rewards software, leading to a record processing of over $1 million in transactions during the holiday season alone.
Advanced Systems
Integrated Media
ASU grew revenue by 300% in 2013 and expanded to over 10 employees.
IMS completed large audio/video & security installations for Cadence Bank, VIVA Health, Northwestern Mutual and Iron City Live.
VEAR
VEAR acquired the first FARO 3D laser scanner in the region to produce detailed scans of crash sites beyond the ability of average laser scanners.
Class Action
Class Action Capital grew by over 2,700 clients at an average of 225 new clients per month from 49 different states regarding its class action claim identification, preparation and filing services.
Free Textbooks FreeTextbooks.com grew over 50% for its fourth consecutive year, reaching into five new states & fourteen new college campuses. The company also closed two CAPCO investments from Redmont Capital.
Blue Ocean
Blue Ocean Technologies gained a national footprint for its Bluewave VoIP solution, with customers in over 40 states.
ENGINEERING
Eco Three grew sales, expanded, and secured its first location for a satellite office in Gainsville, Florida.
VISTA
Vista Engineering Founder Raymond Thompson was recognized as the Engineering Council of Birmingham’s Engineer of the year, and Vista continues to provide engineering expertise to clients around the world.
BioDtech
BioGX
Soluble Therapeutics
Soluble Therapeutics secured $750K in additional investment to expand service and sales operations.
NuCel continued development of its technological platform of therapeutic tissue and cell products derived from the human placenta, with efficacy demonstrated through in vitro testing and clinical and pre-clinical studies. NuCel also expanded its focus to additional wound healing and osteoarthritis applications.
MedSnap secured VIVA Health as a customer of the firm’s much talked about MedSnap ID, which allows VIVA’s care managers to reconcile the medications patients possess and actually take with their prescribed regimen during visits to members’ homes.
Eco Three
BIOTECH NuCel
MedSnap
Good People Labs
Good People Labs drastically expanded quality control capabilities and started an in-house yeast testing program.
BioGX’s Ruminant/Porcine DNA test is the new FDA standard for testing all raw heparin used in the manufacture of heparin products – most of which come from outside the United States.
BioDtech released a joint publication with Amgen and filed two new patent applications for clinical diagnostics of Crohn’s disease, Ulcerative colitis, intestinal wall damage, and sepsis.
BUSINESS SERVICES
Exit High
Relax, It’s Handled
Panorama
ExitHigh launched and is focused on preparing business owners to plan and execute exit strategies that maximize the value of their companies while also preparing entrepreneurs for life after the exit.
Projects Unlimited rebranded itself as Relax, It’s Handled, an Association & Event Management company, posting record revenue and coordinating 49 projects across 20 organizations.
Panorama was re-credentialed and certified as a Women’s Business Enterprise National Council (WBENC) company.
Knight Eady Knight Eady Sports Group secured contracts for the 2015 and 2016 NCAA Gymnastics National Championship, along with managing an exclusive Behind the Scenes Experience for ESPN at the 2013 SEC Football Championship Game.
Industry Care IndustryCare lunched its service and saved its corporate clients over 3,222 hours in lost productivity.
IceBox Coffee IceBox Coffee continued to expand into new markets with revenues growing over 200% since 2012.
Alabama Chai Alabama Chai was selected as one of the winners of the Alabama Launchpad competition with $30k in capital investment.
{ BOARD OF DIRECTORS
Scott Adams Protective Life Corporation
Greg Canfield AL Department of Commerce
Stan Graves Graco Resources
Scott McGlaun BlueCross BlueShield of AL
Iwan Alexander UAB School of Engineering
Bob Crutchfield Harbert Management
Jim Hansen PNC Financial Services Group
James Outland New Capital Partners
Keith Barfield Barfield, Murphy, Shank & Smith
Alan Dean Targeted Technology Fund
Eric Jack UAB Collat School of Business
Gene Price Burr & Forman
Cecil Bostany Warren Averett
Mark Drew Maynard Cooper & Gale
Russell Lynch Energen Corporation
Shannon Riley One Stop Environmental
HB Brantley Bravis Building Solutions
Jonathan Geisen Baker Donelson
Richard Marchase UAB
William Ritter Regions Bank
David Brown Jemison Investment Company
William Goodrich Richgood Corporation
John McDonald Integra Water
Mike Ross Renasant Bank
{ OFFICERS
Lee Smith, Chairman BBVA Compass Bank
James Childs, Vice Chairman Bradley Arant Boult Cummings
Devon Laney, President / CEO Innovation Depot Molly Watkins, Director of Client Services Innovation Depot DesireĂŠ Page, Controller Innovation Depot
{ CONTACT
1500 1st Avenue North Birmingham, AL 35203 [p] 205.250.8000 [f] 205.250.8003 www.innovationdepot.net