Oklahoma Companies Served: Over 580
Economic Impact: The Oklahoma Department of Commerce recently completed a study of the economic impact of 11 Oklahoma companies receiving $4.5 million in SEED Funding from i2E. The Department of Commerce concluded the direct economic impact to be $37.3 million with additional indirect impact of $11.8 million, indicating a total economic impact of almost $50 million.
Follow-on Investment: i2E investment of $20.9 million in Oklahoma companies has leveraged an additional $478 million in private investment.
High Quality Job Growth: i2E assisted companies experienced 31 percent job growth in FY2013 with an average wage of $73,395 compared to 1.3 percent job growth statewide and an average wage of $38,250.
Increase in Success Rates: The failure rate for small business start-ups nationwide is slightly over half in the first 4 years. Companies funded by i2E see a much better success rate with more than 2/3 making it past the 4 year mark…an increase of almost 41 percent.
Success Stories: The following are just a few of the successful companies i2E has assisted.
- Rupture Pin Technology in Oklahoma City manufactures pressure relief valves and isolations values for all industries. A $150,000 i2E investment has grown into a company with $12 million in annual revenues and 36 employees.
- Cytovance Biologics, located in Oklahoma City, manufactures materials for pharmaceutical companies to help develop new medicines. A $150,000 i2E investment has been leveraged into a Presbyterian Health Foundation Research Park company with $15 million in revenues and 86 employees earning an average salary of $52,000.
- Benefit Informatics in Tulsa assists companies in managing healthcare costs through data analysis of claims history and member information. An initial i2E investment of $460,000 has grown into a company with $7.5 million in annualized revenue and 40 associates.