Tag: MetroConnect

MetroConnect Year 4 cohort increases exports by $69M

By San Diego Regional EDC,

Last summer, 20 San Diego-based companies were selected to participate in World Trade Center (WTC) San Diego’s export assistance program—MetroConnect. Participants were equipped with a $10,000 grant and programmatic resources over the course of a year, with the intent of helping them access international markets and boost export sales.

The companies in MetroConnect Year 4 collectively generated a net increase of $69.6 million in exports sales, signed 369 international contracts, and opened 10 new facilities overseas. Together, these participating companies also added 97 jobs right here in San Diego–evidence that exporting can make businesses more dynamic and resilient back home.

After collecting initial results from this year’s cohort, WTC San Diego formed a MetroConnect Judging Committee to determine which four companies would be invited back to compete in the MetroConnect Grand Prize PitchFest. On November 13, the pitch competition will award one company an additional $35,000 and deemed the grand prize winner of MetroConnect Year 4.

The four finalists:

  • Bitchin’ Sauce
    • A San Diego staple served at street fairs for years, the almond-based, gluten-free, Non-GMO and vegan sauce is great for veggies and a spread. Now available at retailers in San Diego and beyond.
  • Eddy Pump
    • An engineering and manufacturing company producing state-of-the-art material handling equipment for a multitude of industries including military, oil, mining, energy, and more across the globe.
  • LRAD Corporation
    • Manufacturer and developer of long-range acoustic hailing devices, mass notification, and distributed messaging systems, which allow users to clearly communicate warnings and instructions, resolve uncertain situations, and enhance safety in a variety of applications for defense, law enforcement, and more.
  • Scientist.com
    • The world’s leading marketplace for sourcing scientific research services.

Congratulations to these companies on their success, and we look forward to seeing them make their pitch in November!

Details for the MetroConnect Grand Prize PitchFest

  • Who: 200+ attendees primarily within San Diego’s international business community (exporting companies, service providers, trade organizations, program stakeholders)
  • When: Wednesday, November 13 from 2:30 – 5:30 PM
  • Where: The Alexandria at Torrey Pines and Farmer & the Seahorse
  • Why: This event marks the finale of MetroConnet 2018-2019 program. The audience and a judging panel (50/50 split) will vote for the grand prize winner to receive a $35,000 check, courtesy of JPMorgan Chase

Following the pitch competition, there will be a company showcase and reception at Farmer & the Seahorse. Learn more and get tickets for the event here.

MetroConnect company LRAD doubles workforce, relocates to new facility in Rancho Bernardo

By San Diego Regional EDC,

Today, WTC San Diego and Congressman Scott Peters visited current MetroConnect company LRAD Corporation to tour its new, expanded facility in Rancho Bernardo. The new space will support LRAD as it doubles its workforce and fulfills an $11 million U.S. Army order for acoustic hailing devices – its largest contract on record.

Another example of an #SDlifechanging company: LRAD creates long range acoustic hailing devices, mass notification, and messaging systems that enable users to clearly communicate warnings and instructions, resolve uncertain situations, and enhance safety.

Just a glimpse at @LRADX’s long range communication systems for use in emergencies, safety control and more.  #SDlifechanging #GlobalSD @NikiaClarke @RepScottPeters pic.twitter.com/WuQxbG9dkq

— WTC San Diego (@WTCSanDiego) October 18, 2018

And LRAD is taking its life-saving technology global. After a competitive process, WTC San Diego recently announced that LRAD is one of 20 local companies participating in our export accelerator program, MetroConnect. Over the next year, WTC will work closely with LRAD to help the company increase its export potential in European markets.

The company has seen extensive growth over the last decade, with a presence in 72 countries. This is a testament to the impact of LRAD’s mass notification technology – which is not only applicable to defense, law enforcement and public safety, homeland and border security agencies, but also helps with critical infrastructure protection, fire rescue, and much more all around the world.

Despite national rhetoric, data shows companies that are global pay higher wages, increase productivity in the domestic market, are less likely to go out of business, and spur more efficient R&D here at home. And now more than ever, it’s important that we step up to support local companies in sharing their life-changing innovation with the rest of the world.

Congratulations to LRAD, not just on its growth here at home, but its success abroad. Here’s to more to come.

Local medtech company helps alleviate pain of aging population, expands to EU

By San Diego Regional EDC,

From 2025 to 2050, the 65-and-older population is projected to almost double to 1.6 billion globally, whereas the total population will grow by just 34 percent over the same period. With this, it has become increasingly important to support our aging population, with health and wellness among top priority.

San Diego medical technology company and 2016 MetroConnect participant AVACEN Medical has developed technology to help ease some of the common ailments afflicting seniors. The AVACEN 100 is an FDA cleared, over-the-counter medical device that provides non-invasive, temporary arthritis and muscle pain relief, and muscle relaxation. Using microcirculation enhancement on the palms, the locally-made device helps warm and thin the blood, thereby dissipating heat throughout deep tissues and relieving joint pain associated by arthritis, muscle spasms, sprains and more.

Taking this San Diego-made technology global, the AVACEN 100 has just received the CE (Conformité Européenne) Mark approval to treat widespread pain associated with fibromyalgia. The CE Mark allows AVACEN to market its AVACEN 100 to the European Union’s 28 member countries where many prescription drugs, available in the U.S., have been rejected by regulatory officials for treating fibromyalgia pain.

Founded by Tom Muehlbauer in 2009, AVACEN’s revolutionary technology was originally developed to help alleviate his sister-in-law’s chronic pain. The company currently sells in two countries, with plans to expand into 10 more over the next year (thanks in part to the CE Mark). Sales have climbed to more than $1.5 million, with more than 20 percent of the sales coming from international markets.