GAINESVILLE and BOCA RATON, Fla., July 21, 2016 /PRNewswire-USNewswire/ -- The Florida Institute for the Commercialization of Public Research (the Institute) announced today that it has finalized a funding agreement with Mine Survival, Inc. (MSI), a Panama City Beach-based company with technology developed at Gulf Coast State College. The Institute supports new company creation based on publicly-funded research, and bridges early funding gaps for companies spinning out of Florida-based universities and research institutions.
MSI is the premier manufacturer of cutting edge surface rebreathers that enable breathing in toxic environments. The company has created a Closed-Circuit Escape Respirator (CCER) for the mining industry with a unique, patented vest that sets new industry performance standards by providing respiratory protection that is up to three times longer than the current standard while costing less than the competition.
"We formed MSI because we wanted to give the people that work in dangerous occupations a chance to escape hazardous situations, like a mine explosion or collapse," said Rob Moran, MSI's President. "Our first product addresses the mining market and its need for a cost-effective, high performance Self Contained Self Rescuer (SCSR), and funding from the Institute will enable us to get to market faster and achieve our business objectives."
"MSI's lifesaving products are filling a void in the market," said Jackson Streeter, MD, Institute Chief Executive Officer. "Their rebreathers last longer, are smaller and lighter weight than comparable units, and can be used in a variety of dangerous and life-threatening settings. We are pleased to support this important advancement in rebreather technology."
About the Institute
Formed by the Florida Legislature in 2007, the Florida Institute for the Commercialization of Public Research is a non-profit organization that works collaboratively with the technology licensing and commercialization offices of Florida's state universities and private research institutions to leverage a $2B+ research base and form investable companies that create clean jobs in new industries that are driving the global economy. With funding from the State of Florida through the Department of Economic Opportunity, and through the generosity of mentors, advisors and donors, the Institute provides company building services, and seed funding through the Florida Technology Seed Capital Fund, to promising Florida startups. Fifty-three companies have been funded to date, and the Institute's economic impact through June 30, 2015 was $379 million, a return on investment of 14 times to the State of Florida.
About Mine Survival, Inc.
Mine Survival, Inc. is the premiere manufacturer of the world's most advanced breathing simulator and cutting edge surface and underground rebreather systems for mine and high rise escape, and rescue missions.
Chief Operating Officer
Institute for the Commercialization of Public Research
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SOURCE Florida Institute for the Commercialization of Public Research