CAMPBELL, Calif., Sept. 12, 2018 /PRNewswire/ -- Touchjet USA, Inc., the first company to create interactive Android touch technology on a large, cost-effective and portable scale, today announced it has advanced to finalist status in the $5 million 43North startup competition in Buffalo, New York. If selected as a winner, Touchjet USA will establish operations in Buffalo to scale its growth, and will receive free incubator space in Buffalo for one year, guidance from mentors in related fields, access to other business incentive programs such as START-UP NY and a cash prize of $500,000 or the grand prize of $1 million. Touchjet USA's past awards include the 2016 Edison Gold Award in the Communication & Collaboration category, the 2015 CES Innovation Award, and winner of the Innovation Showcase at the Angel Capital Association Summits in 2018 and 2017. Click here to view a Touchjet USA introductory video supporting its selection as a 43North finalist.
Touchjet views Buffalo as a strategic location for East Coast business development, sales and service. The company already has an important partnership with Stampede Presentation Products, a leader in professional audio-visual distribution for dealers in every major vertical market.
"We're thrilled but not surprised to see Touchjet is a finalist in the 2018 43North Competition," said Stampede President & CEO Kevin Kelly. "As a 20-year corporate resident of the greater Buffalo community, we understand how important innovative startups are to the future economic prosperity of our community. Touchjet is revolutionizing the way people interact with technology and with each other. I look forward to them joining us in Buffalo, where together we can continue to innovate new solutions that foster greater communication and collaboration among groups."
Touchjet is a cost-effective fully developed unified collaboration platform bringing cloud services and touchscreen interactivity into conference rooms and classrooms for digital collaboration. Instead of spending tens of thousands of dollars for giant tablets and interactive whiteboards, corporations and schools can install the Touchjet hub at only hundreds of dollars per room including hardware and software. The Touchjet Present cloud service provides easy access to digital content wherever users are. Presenters can share content with their audience and authorize them to annotate on any device across all locations. With Touchjet Present preloaded, Touchjet WAVE virtual touchscreen TV system and Touchjet Pond touchscreen projector transform any flat screen display and any surface into a touchscreen giant tablet. The new WAVE + Lily digital pens bring the precision of pen touch to the giant tablet on TV's up to 65 inches. Touchjet Present's automated meeting reports capture workflow and notes for easy follow-ups with attendees.
Touchjet has shipped thousands of products since its inception in 2013, through direct sales and partners such as Stampede, Amazon, and Best Buy whose Geek Squad has certified Touchjet WAVE for installation service. Touchjet is now completing Series A funding and has plans for a Series B round immediately following the 43North competition to fuel growth in 2019.
"We are honored to be selected as a 43North finalist and look forward to increasing our presence and ties with Buffalo and New York State if selected as a winner," said Helen Fu Thomas, Chairman, CEO and Co-founder of Touchjet. "Our presence in Buffalo would: create new jobs in technology, sales, marketing, customer support and logistics; expand our sales and service to East Coast customers and partners; and enhance Buffalo's growing reputation as a technology center. We are keen to give back to the community by helping local education and businesses use new leading collaboration technology to improve communications and prosperity."
Asked how Touchjet got involved with 43North, Helen replied, "Touchjet was invited to apply to 43North after winning the Innovation Showcase at the Angel Capital Association Summits in 2018 and 2017. Although we didn't realize there were 485 applicants worldwide, we appreciated 43North's vigorous due diligence and selection process. Selection as a 43North finalist is a validation of our business plan, technology and products."
As a game-changer in digital collaboration, Touchjet will continue to attract respected customers across industries. To date, Touchjet's customers include Bonham Independent School District in Texas, Long Beach Unified School District in California, the Massachusetts Institute of Technology (MIT), Capital One, Century 21, Hewlett-Packard, IBM and Swisscom, proving there is a need and large available market for its products.
According to Grand View Research, the global smart education and learning market size is expected to reach USD 423.2 billion by 2025. According to ResearchAndMarkets.com, the enterprise collaboration market revenue is estimated to be $31.74 billion in 2018 and is expected to reach $53.83 billion by 2023, growing at a CAGR of 11.15 percent during the forecast period 2018-2023. These are large markets, and the need for collaboration solutions connecting to the mobile ecosystem is imminent. Touchjet was included in related research, the "Global Interactive Projector Market 2017 - Industry Research Report," by QY Market Research.
43North is the $5 million startup competition, awarding cash prizes to some of the best entrepreneurs and startups from around the world. 43North winners also receive free incubator space in Buffalo for one year, guidance from mentors in related fields, and access to other business incentive programs such as START-UP NY. 43North operates through the support of Governor Andrew Cuomo's Buffalo Billion initiative and grants from Empire State Development and the New York Power Authority. Additional support comes from several other sponsors. For more information about 43North, visit www.43north.org.
Incorporated in Delaware in 2017, Touchjet USA, Inc. brings people together in shared experiences combining its patented touch technology with mobile applications and its proprietary cloud services. Touchjet has a global team of top engineers and designers who are continuing to develop innovative applications for the company's touchscreen and collaboration platform. Visit http://www.touchjet.com and https://youtu.be/eOkQCDSLRTs for more information.
SOURCE Touchjet USA, Inc.