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CIC Lands Leading International Investment Fund
AGS leverages CIC as channel into homeland security and defense sectors
Annapolis, MD (July 13, 2006) - Athlone Global Security, Inc. (AGS), a wholly owned subsidiary of Athlone Bancorp Inc., has become a sponsor of the Chesapeake Innovation Center (CIC), America’s first business accelerator for the homeland and national security sectors.
AGS is an integral part of the venture/private equity community in North America and Israel, with access to the latest technologies emerging in the market. Most of the funds invested by AGS are allocated to market and marketing channels development.
"This is a positive step for the CIC," said Anne Arundel County Executive Janet S. Owens. "I am pleased that a private equity group would make this investment," she added.
Under the sponsorship agreement, CIC will provide a “landing pad” and resident business acceleration for qualified, AGS-funded Israeli start-ups wishing to access the U.S. homeland security market, and willing to establish a physical presence in the CIC’s Annapolis, Maryland facility.
“This is an extremely well-matched partnership for the CIC,” said Laura Neuman, CIC Interim Executive Director. “We look forward to working with Athlone Global Security because of our mutual interest in emerging homeland security companies.”
Gordon Hawke, president of AGS, said, “Our office in Tel Aviv, headed by Major-General (Ret.) Doron Almog, has access to many new developing technologies that can be rapidly and effectively deployed in North America.”
The vast majority of AGS funding is devoted to advanced R&D programs, product and market development that help technologies mature so that innovations can transition quickly into actual value.
AGS contributes much of its management resources in helping its portfolio companies mature the businesses behind the solutions, and nurture them into robust providers of imperative innovations as viable solutions.
AGS's success in creating sustainable companies and viable technologies produces investment gains when its portfolio companies mature and 'exit' into the broader capital markets, through M&A transactions, IPO's, or other liquidity events.
As part of its mission, AGS reaches out to systems integrators and other providers to the private and government markets, in order to create and maintain open channels of cooperation and to educate the market of the opportunity in its portfolio companies.
AGS President Gordon Hawke added, “The CIC is a perfect vehicle for this channel strategy, and provides an excellent launching point for the Israeli technologies we can introduce into the U.S. market.”
“This sponsorship demonstrates the CIC’s agility in the high-technology business cluster which is centered in Anne Arundel County,” said Aaron Greenfield, CIC Board Chairman and President and CEO of the Anne Arundel Economic Development Corporation. “That core competency is focused on the homeland security sector, National Security Agency, and other federal and corporate enterprises,” he continued.