Local Company Receives Loan from Bradley University Heartland Illinois Technology Enterprise Center
Posted on May 26th, 2005
Peoria, Illinois…. May 26, 2005….Columbus Industries, Inc. of Fairview, Illinois recently was awarded a $20,000 loan from the Bradley University Heartland Illinois Technology Enterprise Center to assist with the patenting and marketing tools needed for their heavy duty, durable, off-road utility vehicle.
Columbus Industries’ Coot2 (www.coot2.com)
is the first vehicle in its class to address the problem of delivering high power, center articulation, and low maintenance cost while providing extreme vehicle safety at the same time. Prototypes are continually being created to update and refine the product to stay ahead of the competition in their field.
“Bradley University HITEC has been an ongoing information tool we have used to guide us in our effort to bring the Coot2 into the marketplace. We are thankful Bradley University has taken such a positive position in their approach to helping small businesses. Although the Coot2 is our first product to receive national distribution, there are more in the planning stages. Our goal is to become a meaningful employer for West Central Illinois with over 100 employees by 2010,” stated Dave Donaldson, President of Columbus Industries, Inc.
Bradley University HITEC is one of eight technology commercialization centers established, in part through a grant awarded to the University by the Illinois Department of Commerce and Economic Opportunity (DCEO). The Bradley University HITEC team stimulates development and commercialization of advanced technologies through work with regional researchers, scientists, and entrepreneurs transforming intellectual property into successful commercial enterprises. The Center can make investments in the form of loans of up to $20,000 to client companies to fund projects that will help them meet key business development needs.
Columbus Industries, Inc. will use the funds to pursue patent protection, prototype development and marketing tools for their product.
This is the fifth loan made to area companies by Bradley University HITEC since the Center was established in 2002.
Visit www.heartlanditec.org for more information.
Email info@heartlanditec.org or call 309.687.2066 for more information.
