Technology Shines at 2010 NJTC Venture Conference

SOMERSET, N.J., March 29 /PRNewswire/ — The Palace was the backdrop for technology’s royalty last week when the New Jersey Technology Council (NJTC) crowned the “Best in Show” at the 2010 NJTC Venture Conference.

The annual daylong NJTC Venture Conference, the largest and most dynamic of its kind on the East Coast, drew a crowd of investors looking for the next great deal. Many agreed this year’s conference showcased a vibrant new crop of startup firms. More than 65 companies from various sectors including life sciences, IT, energy/environment, telecommunications and nanotechnology showcased exciting technologies.

Hilin Life Products, Inc. of Newark, based in the NJIT Economic Development Center, received the award for “Company Most Likely to Succeed.” The medical device company markets original fertility management products for health and family planning.

Water Journey Ltd. of Livingston, manufacturer of an alcohol-free hand sanitizer, won two awards: Best Management Team and People’s Choice Award.

In an economy where many entrepreneurs are working double-time to find any available funding, the crowd at this year’s Venture Conference was well worth noting. Maxine Ballen, president and CEO of the NJTC, said there is a lot of interest but investors are being extremely careful about the risk to value ratio.

“The Venture Conference is the perfect forum for these companies to showcase for a large group of investors – all in one place. And, from what we were told,” Ballen said, “many investors were extremely excited by what they saw.”

    The 2010 New Jersey Venture Conference Award Winners:

    Most Innovative Product/Service
       NET Device Corp, Mt. Laurel
    Most Capital Efficient Company
       Socialibrium LLC, Short Hills

    Best Life Sciences Company
       AcquiSci, Inc., Newark
    Best Information Technology Company
       Noveda Technologies, Branchburg
    Best Communications/Electronics Company
      CenTrak, Inc., Newtown, Pa.
    Best Advanced Materials/Nanotechnology Co.
      Freya Energy, Inc., Orlando, Fla.
    Best Green Company
      Infinite Wind Energy LLC, Little Ferry
    Best Early Stage Company
      Endomedix, Inc., Morristown
    Best Management Team
     Water Journey Ltd., Livingston
    People's Choice
     Water Journey Ltd., Livingston
    VCs' Choice
     AdFactory, Horsham, Pa.
    Most Likely to Have Successful Liquidity Event
      TimeSight Systems, Mt. Laurel
    Company Most Likely to Succeed
      Hilin Life Products, Inc., Newark
    Judges' Choice
      VectraCor, Inc., Totowa

SOURCE New Jersey Technology Council