Eau Claire And Madison, Wisconsin, Firms Awarded State Technology Business Development Investment Loans
Area Development Online News Desk (09/25/2013)
Two Wisconsin firms, Coating Tech Slot Dies in Eau Claire and Kayo Technology in Madison, have been approved for a total of $410,000 in Technology Business Development Investment Loans by the state’s Economic Development Corporation.
According to the Wisconsin Economic Development Corporation, Coating Tech Slot Dies, a firm that manufactures customized high-precision slot die coating systems, is eligible for a $160,000 loan. The company will also operate as an incubator site for start-up companies that need to produce products, but cannot wait for the manufacturing cycle of an original equipment manufacturer.
In addition Kayo Technology, a technology development company that focuses on creating innovative hardware and software to improve the efficiency and efficacy of Physical and Occupational therapy, is eligible for a $250,000 loan.
Kayo is developing a patented rehabilitative hardware device, called the kiio, which accurately measures applied force and timing during assessment and therapeutic exercises. The kiio is a portable handheld computer that wirelessly transmits real-time readings to the kiio FLEX PC software for objective assessment and analysis. WEDC said the company will employ software development and verification personnel to continue efforts leading to initial customer pilot release of their integrated system.
The Technology Business Development Investment Loan was created to facilitate research and development and commercialization of innovative technology products. The loan program is an important tool to help new companies get their innovative ideas successfully off the ground, state officials said.