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Mtech Technology Advancement Program Graduate Lurn Inc. Wins Second Major Award This Year

Posted on: Thursday, 18 June 2009, 17:07 CDT

COLLEGE PARK, Md., June 18 /PRNewswire/ -- Mtech incubator graduate Lurn Inc., a company dedicated to opening the doors to prosperity and entrepreneurship through online business education and the technologies that make it possible, was named company of the year in the technology service category during the 2009 Maryland Incubator Company of the Year Awards in a ceremony on June 16.

Lurn, formerly called Affiliate Classroom and a member of Mtech's Technology Advancement Program incubator from 2007 to 2009, was selected from among 19 finalists in seven categories.

Lurn CEO Anik Singal, who was named as one of BusinessWeek.com's 2008 Best U.S. Entrepreneurs 25 and Under, founded Lurn in 2004 after joining Mtech's Hinman CEOs program, the nation's first living-learning entrepreneurship initiative. Experimenting with Internet marketing in his spare time, Singal quickly realized there was a demand for organized and trustworthy training in best practices -- the type of training that would help online marketers grow long-term, sustainable online businesses. To meet this need, he founded Affiliate Classroom with just $100 in seed money.

Since 2004, Affiliate Classroom has introduced a wide variety of innovative educational products to the pay-per-performance industry, setting the standard for the training of both work-at-home entrepreneurs and management professionals. Since opening its doors, more than 21,000 students have benefited from Affiliate Classroom's courses and training systems.

Affiliate Classroom is recognized as a leading publisher of educational tools for interactive marketers. The company's growing product suite includes e-learning courses, live seminars, a digital magazine, and online communities for affiliates, merchants and advertisers participating in the affiliate marketing industry.

In early 2009, Affiliate Classroom evolved into Lurn to expand its brand and market its unique e-learning training and monetization platform. Lurn's software will soon make it possible for information marketing entrepreneurs to create paid virtual training centers on any topic they choose, and to deliver this information seamlessly to anyone in the world.

Just after graduating in May 2005, Singal entered Mtech's VentureAccelerator Program, which provides mentoring for faculty and students creating companies around university-originating technologies. In May, 2006, Singal took first place in the University of Maryland Business Plan Competition in the Young Alumni Category, winning $15,000.

In May, 2008, realizing that one of the greatest hurdles to success for young entrepreneurs is funding, Singal pledged $50,000 to the university to launch the Hinman CEOs Alumni Fund, which offers money to support current students in the program starting companies.

The Maryland Incubator Company of the Year awards, sponsored by TEDCO, RSM McGladrey, the Maryland Department of Business & Economic Development and Saul Ewing LLP, publicly recognize achievements by current clients and graduates of Maryland incubators and provide a forum for the nominees to increase their visibility in the business, technology and investment communities. Application finalists and category award recipients are chosen by a cross-section of the region's most prominent industry leaders and early-stage investors.

Selection criteria for a winning company included: success in achieving its objectives, its technology or product development; growth in revenue or earnings; number of customers and significant customers; technology transfer; attraction of outside investors; and impact on the region. Award recipients were chosen based on their nomination form, onsite visits, and interviews with references.

About Lurn Inc. (www.Lurn.com)

Formerly known as Affiliate Classroom, privately held Lurn Inc. is a leading provider of content and e-learning technology for interactive marketers. The company's growing product suite includes courses, books, live seminars, digital magazines, online communities and applications for online marketers.

About Mtech's Technology Advancement Program (TAP) (www.tap.umd.edu)

For over 20 years, TAP has helped entrepreneurs build some of the most successful technology companies in the mid-Atlantic region. TAP's staff is comprised of seasoned veterans of startups and venture capital firms who provide business advice and support, market intelligence, introductions, access to funding and other critical assistance that can accelerate the growth of technology ventures. TAP offers furnished offices and flexible lab space as well as a multitude of other benefits and services that can only be found at a technology business incubator situated right on the campus of one of the nation's top public universities, the University of Maryland. TAP was the first technology business incubator in the state of Maryland and is the birthplace of two of Maryland's billion dollar companies: Gaithersburg-based Digene Corporation (now part of Qiagen) and Columbia-based Martek Biosciences.

SOURCE Lurn, Inc.

Source: PR Newswire

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