A few posts ago, I mentioned that I attended a previous company showcase at RPI, and I wondered what had happened to those companies since then. Well, I dusted off my files, and noted that I attended the one on September 17, 2003. What has happened to these companies since then? Let's see...
Albany Molecular - Was and is still a publicly traded company. Would love to see them work with startups in Upstate New York...
Angiodynamics - Successfully filed an IPO last year.
Applied Robotics - Alive and kicking...
Drug Risk Solutions - They've expanded their management team significantly, which is always a good sign.
General Electric - Who?
MindGenix - Company has a neat mouse model for Alzheimer's. It's not clear from the web site if they've expanded, but I'm guessing that they're profitable. A nice little company.
Solidus Bioscience - I don't see a web site, but the NYBA lists them as a grant recipient. I'm not sure what they're up to.
Therion - Still around. My guess is that they are small, but profitable.
Well, what does this all mean? Let's assume I'm a venture capitalist and I bought shares in all of these companies at that time (let's eliminate GE and Albany Molecular from this discussion). It's tough to judge as an outsider if these companies have made progress. Applied Robotics, MindGenix, and Therion already had products/services, so the questions there are focused on sales and profit targets. I'd be curious to see how Drug Risk Solutions has come along with their prototype. Not sure about Solidus. Overall, I'd be quite pleased. I would have made a little on an Angiodynamics IPO, 3 companies would be shipping product, and at worst, the others are surviving. Not bad at all!!!
This all bodes quite well for the Capital Region.
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