Orange County business developer and accelerator OCTANe said today it will expand its LaunchPad early-stage accelerator program focused on high-tech and med-tech industries.
The announcement was made at the company’s medical device & investor forum.
OCTANe has operated as a business developer and accelerator for 15 years, and collectively raised more than $1.1 billion, according to the company.
“We’re evolving into a different OCTANe. We are broadening our services by expanding our influence and enabling companies to not just be formed and capitalized but achieve revenue and profit goals faster and with greater success. We will function as an innovation and commercialization catalyst that drives a robust economic ecosystem in Orange County,” CEO Bill Carpou said in a press release.
The group’s LaunchPad program works collaboratively with incubators to support development, business plans and proof of concepts for early stage companies, followed by an institutional strategy driven by data, predictive analytics and human interaction, the company said.
OCTANe said the expansion will allow it to include a new capital strategy as part of its program, as well as expanded relationships beyond Orange County, alignment with corporate venture funds, increased exposure to high net worth investors and additional opportunities for direct investments.
OCTANe is working with law firm K&L Gates and venture capital firms to “explore direct investment opporunities that could include an investment fund to support the capital requirements of LaunchPad companies,” according to a press release.
In March, Octane named Bill Carpou to be its new CEO. Carpou succeeds Matthew Jenusaitis, who will retain a seat on the OCTANe board.