PRESS RELEASE:

12 EDGE Fund Applications Approved to Advance to Second Phase of 2010 Funding Process

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OKLAHOMA CITY, Okla., July 20 (SEND2PRESS NEWSWIRE) -- The Economic Development Generating Excellence Policy Board announced that 12 pre-proposal applications from an initial field of 62 have been approved to advance to the next step in the 2010 funding evaluation process. This year represents the third round of funding disbursement from the EDGE fund; in 2009, five awards were granted totaling $7.5 million. This year, around $6.5 million will be available for award distribution.

The 12 applicants are being asked to submit full proposals, due Sept. 1, 2010. This year's proposals include projects in biotechnology, information technology/telecommunications, sensor technology, weather science and energy, with several projects overlapping into multiple categories.

"Members of the EDGE Policy Board were very pleased with the high quality of this year's proposals. Each year's submissions have grown in significance and merit, and there were many excellent proposals among those who didn't advance," said Paul Risser, executive director of the EDGE Policy Board.

"With fewer dollars available from the EDGE endowment this year, the competition will be even more intense among the final few projects selected for funding. We can't overlook the need to grow the EDGE Endowment Fund to its full $1 billion total; at that level, we will be able to support many more of the top-tier projects that are going unfunded. Obviously the more innovation and technology EDGE can fund, the more businesses and jobs and wealth we'll be able to create for Oklahoma."

For the 2010 funding process, the following principal investigators have been invited to submit full proposals:

Biotechnology:
* Robert Floyd (Otologic Pharmaceutics) - Preclinical investigation of HPN-07 and NAC for the prevention and treatment of acute noise induced hearing loss
* William Hildebrand (Pure Protein, LLC) - Pure Protein, L.L.C.: EDGE-Enabled Expansion of Protein-Based Transplantation Products
* James Long (VADovations, Inc) - Development of a miniature blood pump
* Anne Perira (Biolytx Pharmaceuticals Corporation) - New drugs for Bad Bugs
* Donald Smith (Smith Algae BioFeeds and BioFuels) - Smith Algae BioFeeds and BioFuels: A Commercial Demonstration of CO2 to Algae as Cattle Feed for Heart Healthy Beef.

Energy:
* C. Drew Tait (Triarii Scientific LLC) - The Electromechanical Battery: A Disruptive Advance Technology that Changes the Energy Paradigm.

Information Technology/ Telecommunications:
* Max Doleh (Sigma Blood Systems, LLC) - Development of Integrated Blood Processing Solutions for Blood Centers
* D. Noah Roberts (Docvia LLC) - Oklahoma Emergency Health Registry Consortium.

Sensor Technology:
* Allen Apblett (Oklahoma State University) - Commercialization of Improvised Explosive Sensing Technology
* Nicholas Materer (SensorCor) - Commercialization of Passive Wireless Corrosion Sensors
* Jeff Wilson (Contineo Robotics) - Robotic Sensor Systems.

Weather Science:
* Allyson Turnbull (Enterprise Electronics Corporation) - Development, Manufacturing, and Support of Low Cost Doppler Weather Radars in Oklahoma.

The number and size of awards will be determined by the EDGE Policy Board which is chaired by Gary W. Derrick and consists of Thomas Kupiec Ph.D., Ken Levit, Gregory McKenzie, Bond Payne, and Stephen Prescott, M.D. The EDGE Endowment Fund is managed by a legislatively-mandated Board of Investors which certifies the amount of funds available each year to the EDGE Policy Board, which in turn, determines how the money will be allocated.

Established by Governor Henry in 2004, the mission of EDGE is to bolster Oklahoma's long-term economic growth by investing the earnings from the EDGE endowment in the state's knowledge infrastructure. EDGE investments are specifically directed toward Oklahoma-based projects that have the potential to expand the number of researchers, technicians, support services and related activity within the state; increase the formation and growth of advanced technology companies; leverage additional funding through federal research grants or private investment; and improve the health and quality of life for Oklahoma.

More information on EDGE fund: http://www.ok.gov/edge/ .

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REFERENCES: EDGE Fund, Oklahoma Economic Development, The Economic Development Generating Excellence Policy Board, EDGE Fund, Oklahoma Economic Development, Paul Risser, biotechnology, information technology, telecommunications, sensor technology, weather science and energy, news, press release from Economic Development Generating Excellence Policy Board, Jul 20, 2010, Economic Development, Business, , Oklahoma City, Oklahoma, 12 EDGE Fund Applications Approved to Advance to Second Phase of 2010 Funding Process