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Archive for the ‘South Carolina’ Category

Cracks in cyber security reveal gaping holes in our digital defenses

Tuesday, December 14th, 2010

By Allan Maurer

InZero device

The InZero security device

RESEARCH TRIANGLE PARK, NC – Cybersecurity still seems to be an afterthought among everyone from McDonald’s to Gawker Media, not to mention the U.S. government and military. Too many entities worry about digital security only when it is breached.

Great business strategy that. Apparently, even giving your email address to a publication such as Gawker or to McDonald’s during one of its promotions, can expose your private data these days. Both admitted to serious security breaches as 2010 ends, while many Twitter accounts – including mine – were hacked by someone selling Acai for weight loss this week. Probably because I used the same password for both sites (see: Spammers Exploit Gawker) on Gawker, where I commented maybe once.

TechJournal South had its own problems with a hacked ad server a few months back and had to shift to another. Two major ad networks were hit with a similar problem this week.

And most of those security breaches were relatively minor in the scheme of things. Many more serious ones have already occurred and we have little doubt are to come.

But coming on the heels of the WikiLeaks fracas, these breaches all show a laxness about cybersecurity that I think is increasingly dangerous on the part of commercial enterprises, government agencies and the military, not to mention to each of us personally.

The problem is partly inherent in the open, accessible nature of the Internet. The very ease with which we swim the Internet’s electron sea makes us vulnerable to sharks. Still,the bad guys, be they foreign hacker crews backed by their own governments, malware creators, spammers, scammers or plain old crooks, actively hack away at us, while credit card companies, government agencies, and businesses remain all too often re-active.

We can’t win the cybersecurity battles that way.

It is absolutely necessary – probably for all of us, but certainly for government and commercial entities – to actively combat this problem. Harden passwords, be careful about what we put on thumb drives or pick up on them, shred documents with sensitive data, and find and use security systems not so easy for cyber criminals to break through.

I’ve noted one approach that seems to be powerful, that of using a security device separate from other equipment that acts as a lockbox preventing suspicious or actual malware and other intrusions from ever reaching operating systems. See: Herndon-based firm grabbing media attention for security device. And: NZero keeps the bad guys out.

Meanwhile, Panda Security of Orlando, which provides antimalware software in the cloud rather than on individual machines, has listed the top ten cyber security threats it sees for 2011.

See also: WikiWars: The Face of future conflicts.

There are contrary views. Over at InformIT, Gary McGraw & Ivan Arce explain how the current climate of exaggeration and FUD surrounding cyber attacks does not ultimately serve the best interests of computer security research in Cyber Warmongering and Influence Peddling.

Email TJS Editor Allan Maurer: Allan at TechJournalSouth dot com.

SC Launch invests in Columbia-based emergency med developer Vitasol

Friday, November 19th, 2010

VitasolCOLUMBIA, SC - SC Launch has invested an undisclosed amount in Vitasol, a life science company focused on improving therapies in emergency medicine and critical care.

SC Launch typically invests $250,000 or less in South Carolina start-ups.

Vitasol’s first product, Resuscinex, a patented multi-component IV fluid for the treatment of hypovolemia (blood and/or fluid loss from the vascular system). Resuscinex works by drawing fluid out of the microscopic spaces between cells and into the vascular system. This restores blood pressure, which often drops sharply in shock victims who have lost blood, and also restores normal heart rate.

In addition, the formula provides anti-oxidants, anti-inflammatory agents and intermediate energy to cells while increasing blood flow in capillaries, the tiny vessels that are critical for supplying oxygen and nutrients to tissue.

The company was founded and advanced by several researchers at the University of South Carolina (USC) School of Medicine. Trauma surgeon Stephen Fann, MD, FACS is the Chief Medical Officer of Vitasol. Fann, a School of Medicine faculty member, has long wanted a better alternative to the IV fluids traditionally used to stabilize victims of severe blood loss.

Together with his colleagues, Michael Yost and John Propst, he soon might have it. Michael Yost, PhD is Director of Research in the Department of Surgery at the USC School of Medicine and Chief Operating Officer of Vitasol. John Propst, PhD, MBA, the company’s President and CEO, earned his doctorate from the USC School of Medicine while researching biomedical science with Fann and Yost. Passionate about the business implications of cutting edge biotechnology, he also earned his MBA from the USC Darla Moore School of Business.

“We started this company hoping to solve a major problem for trauma victims and improve treatment outcomes in critical care situations,” stated Vitasol CEO John Propst. “The domestic market is quite large and the global implications are significant. Our initial test results are very encouraging, and with this investment from SC Launch we will be able to secure follow on investments and move our research discoveries that much closer toward improving patient care.”

Vitasol plans to begin human trials in coming months and is currently seeking FDA approval. The company hopes to ultimately establish manufacturing of its Resuscinex product in the South Carolina.

SC Launch, an SCRA collaboration, assists entrepreneurial start-up companies with up-front counseling, seed-funding, and access to a powerful resource network.

Greenville, SC-based Acumen names Stansell president, COO

Wednesday, November 10th, 2010

AcumenGREENVILLE, SC – Acumen has named G.T. “Toby” Stansell president and COO. Acumen is one of the largest technology companies in the Carolinas, providing industry-leading IT managed services, data storage solutions and business applications for companies of all sizes.

Prior to joining Acumen, Stansell was the president of Oobe, where he helped the company grow over 700 percent and achieve unprecedented levels of profitability during his five years there.

Stansell has an extensive technology background. He began with IBM in the role of key account executive in the 80s and has held more recent executive roles with aerospace and automotive ERP software companies that were sold to industry leaders Manugistics and SAP, respectively.

In addition, he established the first international office of Right Source Inc. in Maastricht, Holland, where he served as managing director for all of Right Source’s operations outside of North America. In that role, Stansell hired and led multi-national teams that produced and executed executive-level technology briefings and seminars across Europe and Asia on behalf of IBM, Computer Associates and PTC, among others.

South Carolina-based MIT-RCF gets $200K from SC Launch

Tuesday, November 2nd, 2010

SC LaunchFLORENCE, SC – MIT-RCF, a Lake City, SC-based carbon fiber technology company, has received a $200,000 investment from SC Launch at an event hosted by SCRA at the Southeastern Institute for Manufacturing and Technology.

At the event, SCRA also presented a Knowledge Economist Award to the President of Francis Marion University Dr. L. Fred Carter, and led a panel discussion to explore future technology development opportunities and challenges in the region.

MIT-RCF was formed by and is a wholly owned subsidiary of Materials Innovation Technologies (MIT), an advanced materials company focused on developing innovative technical solutions for the manufacture of composite parts.  The MIT-RCF manufacturing facility which is located in Lake City represents the commercialization of MIT’s proprietary 3-DEP™ technology, a revolutionary and disruptive process for molding that pre-forms and manufactures finished parts.

“MIT-RCF is essentially creating a new industry based on their state-of-the-art recycling technology and composite manufacturing of carbon fibers,” said SCRA CEO Bill Mahoney. “The company shows tremendous promise to not only be an industry leader by filling a current carbon fiber technology gap, but to also bring economic impact to this region with quality, high-tech job creation.”

The investment award was presented prior to a technology and economic development focused panel discussion during the event.

Also during the event, SCRA presented a Knowledge Economist Award to Dr. L. Fred Carter for his individual efforts that support the development of the Knowledge Economy in South Carolina.

Bob Keane named president, CEO of Spirit Telecom, CEO of Palmetto.net

Wednesday, October 27th, 2010

Bob Keane

Bob Keane

COLUMBIA, SC – Robert “Bob” Keane has been named president and CEO of Spirit Telecom and CEO of PalmettoNet. Keane brings more than 25 years of experience in the telecommunications industry to the two firms, both headquartered in Columbia, SC.

Keane spent 18 years with AT&T in telecom equipment sales, business development, product management and access management and provided leadership in the development of local Internet, cable and access services. In 1997, he was named vice president of AT&T’s local services with responsibility for strategic and fundamental planning in support of business, consumer and Internet business units, which included the integration of Teleport Communications Group (TCG) into AT&T.

In 1999, he joined Comcast and formed Comcast Business Communications the following year.  As president and CEO, he had full financial and operating responsibility for the development of a subsidiary to provide fiber-based services to small and medium business. In 2002, he joined Cavalier Telephone as its president and COO, overseeing the day-to-day operations of a regional CLEC operating in five states and an inter-city long haul optical network providing services in 15 states.  Most recently he served as president and CEO of Arena Racing.

Spirit Telecom is owned by independent telephone companies and cooperatives of South Carolina and provides voice, data and Internet services to customers in North and South Carolina and 20 other states.

PalmettoNet is the largest provider of digital fiber optic networks in the Carolinas. A carrier’s carrier with more than 3,100 fiber route miles, PalmettoNet leases capacity to prominent telecommunications carriers who provide interstate, intrastate and interchange service.

SEBIO names life science firms presenting at its Investor Forum

Wednesday, October 20th, 2010

SebioATLANTA – Southeast BIO (SEBIO), a regional nonprofit organization dedicated to fostering the growth of the Southeast’s life sciences industry, has named the best life sciences deals in the Southeast, as determined by a Selection Committee comprised of regional and national venture capitalists.  These companies, both early- and later-stage, will participate in the upcoming SEBIO Investor Forum being held on November 3-4, 2010 at the Ritz-Carlton, Buckhead in Atlanta, Georgia.

Those companies chosen for the EARLY/Stage event are seeking their first rounds of venture capital and/or angel investment. During the Investor Forum, the companies will participate in an advisory session led by active early-stage investors.  The MAIN/Stage presenting companies have generally completed at least one round of institutional financing and will each have the opportunity to make a ten minute pitch to the full conference audience.

Since 1999, companies that have participated in the SEBIO Investor Forum have raised over $2.5 billion in public and private offerings.

SEBIO has also selected four finalists for its Fourth Annual BIO/Plan Competition, a program developed to promote the creation of new, fundable life science companies based in the Southeast. Working closely with technology transfer offices and entrepreneurs throughout the region, the competition brings forward opportunities from leading Southeastern research universities and research centers. The BIO/Plan Competition received forty applications earlier this year from all across the Southeast.

SEBIO 2010 MAIN/Stage Companies
Avancen MOD Corporation (Mt. Pleasant, SC)
EGEN, Inc. (Huntsville, AL)
Intelliject, Inc. (Richmond, VA)
InVasc Therapeutics, Inc. (Tucker, GA)
RFS Pharma, LLC (Tucker, GA)
Visioneering Technologies, Inc. (Alpharetta, GA)

SEBIO 2010 EARLY/Stage Companies
Ariste Medical, LLC (Memphis, TN)
Atlanta Catheter Therapies, Inc. (Atlanta, GA)
AXOXY Laboratories, LLC (Gainesville, FL)
Bioshape Solutions, Inc. (Research Triangle Park, NC)
CvergenX, Inc. (Tampa, FL)
Endomimetics, LLC (Birmingham, AL)
GeneCapture, Inc. (Huntsville, AL)
Grace Innovative Technologies, Inc. (Mobile, AL)
HemoSonics, LLC (Charlottesville, VA)
NeurOp, Inc. (Atlanta, GA)
Physcient, Inc. (Durham, NC)
Restorative Physiology Group, LLC (North Charleston, SC)
Scytel Research (Chapel Hill, NC)
Vascular Pharmaceuticals, Inc. (Cary, NC)
Vivo Biosciences, Inc. (Birmingham, AL)

SEBIO 2010 BIO/Plan Finalists:
FibroTherapeutics, Inc. (Medical University of South Carolina)
NRG Biotechnology (Morehouse School of Medicine)
Reactive Diagnostics, Inc. (Georgia Institute of Technology)
SPECTROPATH Medical (Emory University)

Acumen IT expanding, hiring for offices in SC, GA, NC

Thursday, October 7th, 2010

AcumenGREENVILLE, SC – Acumen IT says it plans ot hire more than ten new employees over the next 18 to 24 months.

Most of the full-time positions will be in the Greenville, SC area at Acumen IT’s Corporate Headquarters. However, some will be located in regional offices in Charlotte, Atlanta and Charleston.

As a direct request from many of Acumen IT’s clients, the company will also be expanding its Help Desk in order to provide live, native English-speaking representatives from 7am to 9pm daily. These expanded hours will provide more flexibility for assistance to early morning callers and east-coast companies with satellite offices throughout the United States and Canada.

Acumen IT is one of the largest technology companies in the Upstate and Carolinas, providing industry-leading IT Managed Services, Data Storage Solutions and Business Applications for companies of all sizes. As a Microsoft Gold Certified Partner, the company is a Microsoft Partner with the highest level of competence and expertise with Microsoft technologies. Acumen IT has also been named to the 2010 Microsoft Dynamics President’s Club.

Acumen IT will be looking to hire positions in the following areas:

Help Desk Support

Inside Sales and Lead Generation

Customer Service Representative

IT Engineers

Dynamics GP Consultants.

For more information on Acumen IT or on these new positions, please visit our website at www.AcumenIT.com or contact David Pence at 864-271-9000

SC-based Innegrity ships in $1.5M of $2M offering for fiber composites

Friday, September 17th, 2010

Innegrity

Innegrity's fiber composites are used in the marine industry

SIMPSONVILLE, SC – Innetrity, a fiber composites manufacturer,  has raised $1.5 million of a $2 million mixed securities offering, according to a regulatory filing.

The company’s products are used in the sporting goods, ballistics and marine industries.

Brian Morin, company president and CEO, is the only principal named in the filing with the US Securities and Exchange Commission.

The company was founded in 2004.

USC Innovation Center opens in Columbia

Wednesday, August 18th, 2010

USC innovation centerCOLUMBIA, SC  - SCRA, the University of South Carolina (USC) and the City of Columbia are holding a grand opening ceremony Thursday for the SCRA USC Innovation Center, Columbia.

The fully-renovated facility houses knowledge-based companies emerging from research at the University of South Carolina and the general marketplace which are entering commercialization and advanced manufacturing stages. The facility is situated and designed to stimulate and sustain clean, next-generation manufacturing, along with related development and support services.

It is the second of three facilities SCRA is providing in conjunction with its university and civic partners in South Carolina to grow the knowledge economy in the state.

“This facility is a knowledge-based technology cornerstone to serve start-up companies with intellectual property coming out of USC as well as the private sector,” said Bill Mahoney, SCRA CEO.

Wachovia is providing financing for the SCRA USC Innovation Center.

At the grand opening Thursday, Mahoney will also present SCRA “Knowledge Economist” awards to: South Carolina Representative Joan B. Brady; Dr. James L. Hudgins; Thomas E. Persons, Sr. and Dr. Barry W. Russell.

Drs. Hudgins and Russell have both served as presidents of Midlands Technical College, and as head of the South Carolina Technical College System.

Brady has been a strong advocate of Knowledge Economy initiatives, both with SCRA and EngenuitySC.

Persons is CEO and President of the South Carolina Technology Alliance, which provides collaboration opportunities among the state’s business, academic, economic development and legislative leaders. His organization also assists in developing workforce skills for knowledge-based entrepreneurial companies.

The SCRA Knowledge Economist Award Program recognizes outstanding citizens who have

made significant contributions to South Carolina’s Knowledge Economy

SC Launch pours $200K into Terressentia for tech enhanced spirits

Monday, August 2nd, 2010

woman with liquorCHARLESTON, SC – Here’s a funding story you won’t find hard to swallow. SC Launch, an affiliate of SCRA, has invested $200,000 in Chareston firm Terressentia, a company that has developed a technology to make high quality distilled spirits for retailers and private brand owners.

A group led by Earl D. Hewlette, a Columbia, SC native with an MBA and law degree from the University of South Carolina, founded Terressentia in 2007.  Hewlette is president and CEO of the company.

“These funds will expand our sales and marketing efforts, enabling us to achieve more market recognition of the way our patented technology can dramatically improve the purity and flavor of distilled spirits at a very low relative cost,” Hewlette says.

“Utilizing sophisticated engineering technology, Terressentia’s innovative process enables an acceleration of traditional fermentation and filtering, which produces a very high quality product in real time,” said Dave McNamara, SC Launch executive director. “This company is applying its award-winning chemical engineering processes to support the hospitality industry in South Carolina as well as its national and international clients.”

The company is also involved in a College of Charleston chemistry research project. Students are working with different methods of chemical analysis, including gas chromatography-mass spectrometry and solid phase microextraction  to find and measure the traces of flavor-producing molecules found in the Terressentia vodka product.

We wonder if they need any taste testers for these projects?