Wharton Venture Award Winner!

We are extremely proud to announce that Rob Goldstein, Chief Financial Officer, was selected as a Wharton Venture Award winner after presenting to the selection committee alongside Ryan Goldstein, President/CEO. Consequently, he is awarded $10,000 cash for financial support to develop the venture over the summer. Most of this money will be infused directly into ChronoWake to help fund future company activities, such as product development, research, and marketing.

The Wharton Venture Award is the largest of all of the awards provided by Wharton Entrepreneurial Programs. As with all funding and support received to date, no equity position will be taken, meaning that ChronoWake management still retains 100% ownership of the company.

In the announcement of WVA winners, ChronoWake was featured on the homepage of Wharton Entrepreneurial Programs, pictured below.

Wharton Entrepreneurial Programs Homepage
Wharton Entrepreneurial Programs Homepage

This site receives over 1,500,000 visitors each month according to TrafficEstimate.com. Being featured on the WEP homepage has significantly increased our already substantial publicity and exposure.

We want to extend our most sincere appreciation to Wharton Entrepreneurial Programs, and especially to the Heller Family Foundation, for providing this seed funding and associated publicity to help support our venture.

PennVention Finalist Selection

We are thrilled to announce that ChronoWake has been selected as one of 10 ventures to advance to the final round of PennVention. Past PennVention finalists have been covered in major media outlets such as Reuters. On Friday, April 10, 2009, we will compete with nine other selected ventures for over $60,000 in cash and services at the annual Innovation Fair. An excerpt from the PennVention Committee’s selection notification email:

Congratulations! You have made the final round for PennVention. Our judges felt that your idea was one of the best submitted. Looking forward, the next round will consist of your team giving a ‘pitch’ of your idea to judges and a live audience on Friday, April 10th.

We would like to thank the Weiss Tech House and the PennVention Committee and Judges for the distinction of being selected a PennVention finalist. In addition to the prizes, selection as a finalist certainly enhances our reputation and eminence among not only Philadelphia’s entrepreneurial community, but also on a national and global scale.

Venture Capital Partnership

Earlier today, Ryan Goldstein, President/CEO, met with the managing director of a large Philadelphia-based venture capital firm. Because of the great potential evident in our venture, ChronoWake has been offered pro bono legal services for intellectual property protection (patent filing), as well as full support in furthering our venture objectives.

So far, ChronoWake management has not had to concede any equity in the company (the founders are retaining 100% ownership). We are very enthusiastic about, and thankful for, the valuable services and support provided to us without cash or equity in return. We avidly anticipate a mutually beneficial partnership with this firm.