JumpStart Invests in Electron Database
CLEVELAND, Dec. 7 /PRNewswire/ -- JumpStart Inc., the Northeast Ohio venture development organization that accelerates the progress of high growth early-stage businesses, announced a JumpStart Ventures investment commitment of $250,000 in Electron Database Company. The Richfield, Ohio company is creating a database software application that will dramatically improve the performance of enterprise applications, data warehouses, and cloud computing infrastructures.
Current database software does not fully leverage many hardware innovations introduced over the last 10 years and will not be capable of leveraging many upcoming advancements. Compared to current solutions, Electron Database's patented technology is expected to deliver faster performance on today's hardware and dramatically faster performance with hardware innovations entering the market over the next few years.
JumpStart Venture Partner, Ted Frank, said hardware manufacturers recognize that without improved database software, there will be limited reasons for companies to adopt their new innovations. "Electron Database's software will produce a very compelling reason to adopt these technologies and help manufacturers capitalize on their multi-billion dollar investments," Frank said.
In addition to JumpStart Ventures' investment, the company received a $1 million grant from the Infocomm Development Authority of Singapore. These funds will be used to further develop the software and establish strategic partnerships.
"Because of the support we have received from JumpStart and our international partners, we are already collaborating with IT's most important players," said Gokul Soma, VP, Product Development of Electron Database.
About Electron Database Company
Electron Database Company (EDC) is a Richfield, Ohio-based company building advanced software technology designed to dramatically improve the performance of enterprise applications, data warehouses and cloud computing infrastructures. EDC's patented technology is expected to deliver over 40 times faster performance on existing disk-based hardware versus existing database software and over 400 times faster performance on advanced, solid-state based hardware currently in development. Once released, EDC's technology will be the only database that fully leverages multi-core technology, 64-Bit computing, and solid-state memory drives that are expected to transform the hardware market and deliver material gains in energy efficiency.
About JumpStart Inc.
JumpStart (www.jumpstartinc.org) is a nationally recognized venture development organization that accelerates the progress of high potential, early-stage businesses and includes a special focus on diverse entrepreneurs working in the highest growth industries. Through the depth of its entrepreneurial team and the breadth of its high value resources, JumpStart improves client success in achieving significant milestones, including raising the follow-on capital necessary to create wealth. JumpStart strives to create a more prosperous future for Northeast Ohio. As part of its robust public/private partnership model, JumpStart recognizes the integral support of Ohio's Third Frontier Project, the state's largest-ever commitment to expanding Ohio's high tech research, innovation, commercialization, and company formation activities, which are increasing opportunities for all Ohioans.
SOURCE JumpStart Inc.