DANVILLE, Va., Jan. 14, 2014 /PRNewswire/ -- The Launch Place, the Dan River Region's leading entity to recruit emerging and serial entrepreneurs, has made its first seed fund investment to KSI Data Sciences, LLC. KSI will receive $150,000 immediately and $100,000 upon the successful testing of a new product prototype focused on commercial video and data management solutions for remote sensing platforms or unmanned aircrafts, vehicles and other related mobile devices and equipment.
KSI Founder and Chief Architect, Jason Barton and his development team from northern Virginia will be moving to Danville as part of The Launch Place's investment requirements. They will be located at The Launch Place's offices in the River District where they will be part of The Launch Place's wrap-around entrepreneurship services of mentoring, training and coaching and business consulting services.
"The Launch Place provides us an extraordinary opportunity to develop our new technology in this explosive growth industry," said Barton. "In addition to the investment, The Launch Place will assist us in our business development efforts through their mentoring, and consulting services."
"We are thrilled to have become part of The Launch Place network and look forward to the significant impact this partnership will have on the success of our company," said Wes McGee, KSI chief executive officer.
The Launch Place assists with business development, and job creation and retention region-wide through its business consulting services, while having a dual responsibility to recruit and retain entrepreneurs to the Danville region due to a $10 million grant award over five years by the Danville Region Foundation. A $4 million seed fund was established with this grant to invest in start-ups and serial entrepreneurs.
"We are very impressed with the KSI team," said Eva Doss, President & CEO of The Launch Place. "They have built an impressive enterprise software solution that is available to large organizations, such as the U.S. military and government agencies, as well as to local police, fire and utility maintenance departments."
Upon the arrival of Barton and KSI development team in a few weeks, a public announcement event will be held at The Launch Place.
As a 501 (C) 3 nonprofit organization, The Launch Place strives to energize and diversify Southern Virginia's regional economy through entrepreneurship development and business consulting services.
SOURCE The Launch Place