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Cloudrise Closes Seed Round of Funding

Cloudrise

Cloudrise accelerates growth in 2021 by closing out their seed round of funding, recruiting new talent to their board of directors, fostering core partnerships, and delivering best-in-class data protection and automation services to their customers. Since launching the company in October of 2019, Cloudrise has delivered 100+ data protection services projects to over 60 customers globally, including several Fortune 50 enterprises. As they continue to exceed revenue targets and the momentum builds, Cloudrise is investing significantly to expand their service delivery and research and development teams, raising the bar for data protection and automation. In May, Cloudrise secured additional capital to help to fund further growth and innovation. Stormbreaker Ventures is a key investor that helped enable Cloudrise to close the seed round of investment funding. Said Mia, Managing Partner at Stormbreaker, commented: “Cloudrise’s vision of redefining data protection through automation is unmatched in this space and we are confident their innovative drive, coupled with Stormbreaker’s investment, will propel the team into their next phase of growth. We look to partner with high-velocity companies that build effectively and efficiently, and Cloudrise's approach to date has been the best of both." With success comes the need to add more talent to the Board of Directors. A Partner at Greater Colorado Venture Fund, Marc Nager also co-founded Startup Weekend, was CEO of UP Global, and Chief Community Officer at Techstars. Marc not only brings a wealth of experience to the board, but his passions for the Western Slope of Colorado align with Cloudrise’s drive to provide opportunities within their community. “I am honored and excited to join such a passionate and innovative team. I feel strongly that this team is at the right place, at the right time in the cyber security space, and we know the Western Slope startup community is going to rally behind the amazing team they're building in Grand Junction,” said Marc Nager. Cloudrise is committed to delivering high-value, innovative solutions to their customers. “We are extremely excited to welcome Marc to the board and Stormbreaker to our investment portfolio. These partnerships will enable Cloudrise to continue to innovate and provide world-class services to our customers. We founded Cloudrise on the premise that we want to provide value to our customers every day – and for us that means maintaining genuine culture, partnering with our customers, and driving innovation based on business needs”, said Rob Eggebrecht, CEO and co-founder at Cloudrise. About Stormbreaker Ventures Stormbreaker Ventures is an early-stage fund focused on capital efficient startups. The firm believes in a future where venture capital is more equitable, more efficient, and more genuine. Stormbreaker sees an opportunity within venture capital to be a true partner to its founders, not just a check that bides time until the next round. With a portfolio of more than 30 companies, Stormbreaker's partners operate from Silicon Valley, Denver, and Houston. About Marc Nager Marc is a Partner at the Greater Colorado Venture Fund and since 2009, Marc has been a leader of the startup movement around the world. He has built and scaled programs that have served more than 500,000 entrepreneurs in over 700 cities and 142 countries around the world. At UP Global he managed a team of nearly 75 people with offices in 5 international locations and oversaw Startup Weekend, Startup Next, Startup Digest, Startup Week, and Startup America. He's worked with grassroots and political leaders from around the world as well as executives at many FT500 companies around innovation and entrepreneurship. Originally from the small town of Mammoth Lakes, CA, Marc now lives in Telluride where he served as the Managing Director for the Telluride Venture Accelerator. When he is not working to change the state of rural economies, he can be found out in the mountains. About Cloudrise Cloudrise was founded by business and security entrepreneurs with experience in global markets, successful start-ups, and Fortune 500 companies. Combining decades of data protection expertise with automation, Cloudrise focuses on securing data wherever it resides. They assist organizations by assessing, enabling, automating, and managing their data protection and privacy programs. At Cloudrise, they are redefining data protection. Cloudrise can be found at www.cloudrise.com or on LinkedIn. Contact Details CLoudrise, Inc. Jodi Lewis +1 800-917-7619 sales@cloudrise.com Company Website https://cloudrise.com/

June 22, 2021 11:11 AM Central Daylight Time

Rani Therapeutics Appoints Talat Imran CEO

Rani Therapeutics

Rani Therapeutics, a disrupter in oral biologics, today announced the appointment of Talat Imran to Chief Executive Officer. Mir Imran, the company’s founder and former CEO, will become Executive Chairman. “Talat has extensive experience in corporate development and fundraising and has been actively involved in Rani’s key strategic decisions for many years. His appointment as CEO is a natural evolution of the leadership he has demonstrated during his tenure with the company,” said Maulik Nanavaty, Rani Board member. “We are incredibly grateful for Mir’s many contributions to the company, and his commitment and leadership since founding Rani.” “I am honored to be appointed CEO of Rani Therapeutics – a company that I believe has the potential to reinvent, disrupt and expand the biologics industry as we currently know it,” said Talat Imran, Rani’s CEO. “Mir has an amazing track record of innovation and entrepreneurship, and I’m delighted that he will continue to be engaged with the further development of our RaniPill™ platform.” Talat has been a key member of Rani’s executive team since 2014, most recently serving as the company’s Vice President, Strategy. In addition to his role at Rani, Talat has been a venture capitalist with several healthcare-focused Silicon Valley funds, including InCube Ventures, LP, and VentureHealth. Previously, he also served as Chief Executive Officer of Venture Web Partners, a web application development firm. “We believe passionately in our goal of transforming the lives of millions of patients who currently must endure injectable therapies,” said Mir Imran, Rani’s founder and Executive Chairman. “Talat deeply understands Rani’s business and the opportunities that lay ahead of us, and he is uniquely positioned to lead and guide us through the next stages of our development.” About Rani Therapeutics Rani Therapeutics is a clinical stage biotherapeutics company advancing technologies to enable the development of orally administered biologics, which we believe will have the potential to transform medicine and improve patient outcomes. The company has developed the RaniPill™ capsule, a novel, proprietary and patented platform technology, intended to replace subcutaneous or IV injection of biologics with oral dosing. Rani has successfully conducted several preclinical and clinical studies to evaluate safety, tolerability and bioavailability using the RaniPill™ capsule. Investor Contact: investors@ranitherapeutics.com Media Contact: rani-therapeutics@consortpartners.com Contact Details Consort Partners rani-therapeutics@consortpartners.com

June 22, 2021 11:00 AM Eastern Daylight Time

How AI is Helping the Fight Against Breast Cancer

YourUpdateTV

Breast cancer recently surpassed lung cancer as the number 1 diagnosed cancer in the U.S., excluding nonmelanoma skin cancer. Additionally, the National Cancer Institute recently predicted an almost 10,000 excess deaths from breast and colorectal cancers over the next 10 years as a direct result of the pandemic, making it now more important than ever for women to take control over their breast health. Recently, Randy Hicks, MD, MBA, Co-Owner and CEO of Regional Medical Imaging (RMI) in Michigan, participated in a nationwide satellite media tour to discuss how new technology is helping the fight against breast cancer. A video accompanying this announcement is available at: https://youtu.be/7nWf973J1ww The COVID-19 pandemic brought routine health screenings, such as mammograms, to a screeching halt, declining up to 92% in some areas last year, according to a study in the Journal of the American College of Radiology. Now, with Americans getting vaccinated and infection rates decreasing around the country, many women are playing catch-up on these vital health screenings, which leads to another issue — a drastic increase in workload for doctors, who must face a surge of patients who need to be screened. Fortunately, an innovative new tool is available to help clinicians cope with this sudden demand, which at the same time provides them a higher degree of accuracy than ever before. ProFound AI ® uses the latest in deep-learning artificial intelligence (AI) and is clinically proven to help radiologists read mammograms more than 50% faster - and with more accuracy - while also reducing false positives and unnecessary callbacks, which can be stressful for women. ProFound AI was the first 3D tomosynthesis software using AI to be cleared by the FDA. For more information, visit icadmed.com About Randy Hicks, MD, MBA, Co-Owner and CEO of Regional Medical Imaging (RMI) in Michigan: Dr. Hicks is a distinguished practitioner, thought leader, and published researcher in women’s imaging for breast cancer, with additional interests and expertise in parathyroid and thyroid imaging, and in developing interventional breast biopsy procedures and products. A committed advocate for women’s healthcare, Dr. Hicks has worked closely with colleagues in the medical community to encourage multidisciplinary, best-practice approaches, having collaborated to establish local tumor boards that pool expertise from leading healthcare organizations in the region. He has also served as a catalyst for expanding the role of information technology and the use of artificial intelligence in enhancing the quality and efficiency of healthcare. About YourUpdateTV: YourUpdateTV is a social media video portal for organizations to share their content. It includes separate channels for Health and Wellness, Lifestyle, Media and Entertainment, Money and Finance, Social Responsibility, Sports and Technology. Contact Details YourUpdateTV +1 212-736-2727 yourupdatetv@gmail.com

June 18, 2021 10:00 AM Eastern Daylight Time

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Code 1 Supply Named Distributor for SCoV-2 Ag Detect™ Rapid Test for COVID-19 from InBios

Code 1 Supply

Code 1 Supply, a leading distributor of best-in-class medical diagnostics, brand-name supplies and equipment and provider of CPR training equipment and student materials, has been named distributor of an innovative new point-of-care COVID-19 test, the SCoV-2 Ag Detect ™ Rapid Test from InBios International, Inc. The SCoV-2 Ag Detect ™ Rapid Test is a patent-pending lateral flow immunoassay intended for the qualitative detection of SARS-CoV-2 nucleoprotein antigen in direct nasal swab specimens. The point-of-care test can be used to evaluate both symptomatic and asymptomatic individuals. The test can be used for those who are suspected of COVID-19 by their healthcare provider within five days of symptom onset or for individuals without symptoms or other epidemiological reasons to suspect COVID-19 when tested twice over two or three days with at least 24 hours and no more than 48 hours between tests. The kit contains 50 tests and swabs, positive and negative controls and can be stored at room temperature. “As more Americans receive their COVID-19 vaccine, we are seeing a return to normalcy, which must still be supported by testing,” said Matt Regan, CEO at Code 1 Supply. “We are proud to partner with InBios to supply the SCoV-2 Ag Detect ™ Rapid Test nationwide to quickly and easily detect proteins from COVID-19 infection.” Code 1 Supply delivers best-in-class medical diagnostics and brand-name supplies and equipment when and where they are needed most. Code 1 Supply carries innovative next-generation rapid diagnostics for accurate, low-cost, high volume COVID-19 testing and provides exceptional customer service and expertise. They have been a leader in COVID-19 testing since the beginning of the pandemic, helping to supply medical professionals with sufficient testing supplies and equipment worldwide. Now, with FDA Emergency Use Authorization of the SCoV-2 Ag Detect ™ Rapid Test, Code 1 Supply is prepared to ship millions of tests to fulfill ongoing needs. “We are pleased to collaborate with Code 1 Supply as our e-commerce distribution partner to quickly expand accessibility and extend our reach to POC providers with a much simpler option for rapid antigen detection than they may have had access to previously,” said Estela Raychaudhuri, President, at InBios. “Code 1 Supply’s superior customer service and easy to navigate ordering process is an important part of providing access to incredibly accurate diagnostic tests that make a meaningful difference in people’s lives as they return to their jobs, schools and other ways of life.” The point-of-care SCoV-2 Ag Detect ™ Rapid Test is available through Code 1 Supply. To learn more about how Code 1 Supply can support your COVID-19 testing needs, please visit www.code1supply.com/inbiosagdetect. The SCoV-2 Ag Detect ™ Rapid Test has not been FDA cleared or approved, but has been authorized by FDA under an EUA for use by authorized laboratories. This product has been authorized only for the detection of proteins from SARS-CoV-2, not for any other viruses or pathogens. The emergency use of this product is only authorized for the duration of the declaration that circumstances exist justifying the authorization of emergency use of in vitro diagnostics for detection and/or diagnosis of COVID-19 under Section 564(b)(1) of the Federal Food, Drug and Cosmetic Act, 21 U.S.C. § 360bbb-3(b)(1), unless the declaration is terminated or authorization is revoked sooner. About Code 1 Supply Code 1 Supply is an international distributor of best-in-class medical diagnostics, brand-name supplies, and equipment, and a leading provider of CPR training equipment and student materials. Representing the most trusted and respected manufacturers of medical diagnostics, supplies and equipment, Code 1 Supply is committed to providing innovative products and outstanding services at the best prices. We are proud to be the medical supply partner for healthcare providers, hospitals, urgent care centers, businesses and communities worldwide. For more information, visit www.code1supply.com. About InBios InBios International Inc. specializes in the design, development and manufacture of diagnostic assays for emerging infectious diseases and biothreats. Located in Seattle, WA, InBios offers superior quality products which are accurate, easy to use and cost effective. InBios is GMP compliant, FDA registered, USDA licensed and ISO 13485:2016 certified. For more information, visit http://www.inbios.com. # # # Contact Details SVM PR and Marketing Rita Murphy +1 774-454-1516 rita.murphy@svmpr.com Company Website https://www.code1supply.com/

June 17, 2021 10:42 AM Eastern Daylight Time

New Markets Tax Credit Coalition Releases 2021 NMTC Progress Report

New Markets Tax Credit Coalition

The New Markets Tax Credit Coalition today released its 2021 New Markets Tax Credit (NMTC) Progress Report, the seventeenth edition of the report—providing analysis of NMTC activities in 2020. The report was prepared by the NMTC Coalition, a national membership organization of Community Development Entities (CDEs) and investors organized to advocate on behalf of the NMTC. Every year since 2005, the NMTC Coalition surveys CDEs on their work delivering billions of dollars to businesses, creating jobs, and rejuvenating the parts of the country that have been left behind. The annual NMTC Progress Report presents the findings of the CDE survey and provides policymakers and practitioners with the latest trends and successes of the NMTC. "The Coalition's annual survey asks CDEs to report on the deployment of their allocation, investor trends, and a variety of community impact metrics," said Yvette Ittu, NMTC Coalition Board Chair and the President of Cleveland Development Advisors, a CDE in Cleveland, Ohio. "The findings clearly demonstrate the continued improvement and refinement of the program's efficiency and impact in low-income communities. Two decades after its introduction, the NMTC is no longer simply just a tool for delivering investment – instead, it has become one of the federal government's most effective tools for job creation and economic stabilization." Report highlights include: CDEs used $2.9 billion in NMTC allocation in 2020 to finance 272 NMTC projects in 48 states, Puerto Rico and the District of Columbia, amounting to $5.5 billion in total project investment to low-income communities. This financing resulted in the creation of 45,090 total jobs, including 28,322 permanent full-time-equivalent jobs and 16,768 construction jobs. Across 46 states and territories, CDEs rehabilitated or constructed 15.4 million square feet of space in 2020, thanks to NMTC financing. 82 projects expanded healthcare access in 2020 for 1.3 million patients. Healthcare projects included 41 Federally Qualified Health Centers and free clinics. 188 million meals were provided by food banks, food pantries, and community food projects financed in a year marked by an increase in food insecurity. More than 84,000 children in schools, youth programs and childcare centers were served. NMTC financing supported 152 manufacturing and industrial businesses with loans for working capital, new equipment, and 5.5 million sq. ft. of new space, often through incubators and multi-business facilities, creating 9,298 manufacturing jobs. 61 percent of mixed-use projects included at least one community facility, nonprofit, or social service component. Those new community resources add up to over 408 nonprofit facilities, health centers, childcare centers, libraries, community centers, and other community facilities. 85 percent of projects were in severely distressed communities. Sixty CDEs participated in the 2021 survey and provided data on their progress raising capital, lending, and investing in 2020 with the NMTC. The survey findings show that competition for credits continues to drive gains in efficiency. "Year after year, the data shows the NMTC not only delivers an unprecedented level of capital to low-income rural and urban communities, but it also creates much-needed jobs—helping individuals and families thrive and, in turn, grows those local economies where they live and work. In fact, since 2003, the NMTC has created more than one million jobs. Communities that were already struggling have been hit hard by the COVID-19 pandemic and need this important incentive for community revitalization now more than ever," said Coalition spokesperson Bob Rapoza. The report showcases the importance of the NMTC in providing more than two decades worth of patient, flexible capital to businesses and projects located in distressed rural and urban communities, thereby creating jobs and growing business opportunities. The NMTC financing ranges from more traditional industry and community sectors to new and cutting-edge technology. Projects and businesses that benefited from the Credit in the past year include manufacturing, healthcare, schools, and many others supporting childcare, youth, and families. Rapoza notes, "This report is further proof that the NMTC is working and Congress should expand and make the Credit permanent. It has the potential to positively impact communities across the country for years to come." About New Markets Tax Credit Program The New Markets Tax Credit (NMTC) was enacted in 2000 in an effort to stimulate private investment and economic growth in low-income urban neighborhoods and rural communities that lack access to the patient capital needed to support and grow businesses, create jobs, and sustain healthy local economies. Since its inception, the NMTC has generated more than one million jobs. Today, due to the NMTC, nearly $110 billion is hard at work in underserved communities in all 50 states, the District of Columbia, and Puerto Rico. For more information, visit www.NMTCCoalition.org. Contact Details Greg Wilson +1 571-239-7474 greg@curleycompany.com Company Website http://nmtccoalition.org/

June 17, 2021 09:00 AM Eastern Daylight Time

American Kidney Fund Applauds Introduction of the CARE for All Kidneys Act of 2021

American Kidney Fund

The American Kidney Fund (AKF) applauds Reps. Lisa Blunt Rochester (D-DE) and Brad Wenstrup (R-OH) for introducing the Coordination, Accountability, Research and Equity for All Kidneys Act of 2021, also known as the CARE for All Kidneys Act of 2021 (H.R. 3893). The bill would create a national action plan to address kidney disease in historically underserved populations, including minority and rural communities. LaVarne A. Burton, president and CEO of the American Kidney Fund, today issued this statement: “Kidney disease is one of the top 10 leading causes of death in the United States. Communities of color are disproportionately impacted by kidney failure, and underserved and rural communities face issues accessing health care. This important bill will pinpoint the issues that have created such a burden of kidney disease in these communities and will develop steps needed to prevent kidney disease, delay progression to kidney failure and increase the number of kidney transplants. “People living in underserved and rural communities have long faced challenges accessing health insurance, primary care, preventive care and pre-dialysis nephrology care. AKF is proud to have worked closely with Reps. Blunt Rochester and Wenstrup to develop a bill that aims to improve the health care delivery system, making it more equitable, accessible and inclusive, and to ensure high quality care for all kidney disease patients. “The CARE for All Kidneys Act of 2021 would create a national action plan that brings together key stakeholders, including the National Institutes of Health (NIH), the National Institute of Diabetes and Digestive and Kidney Diseases at NIH and the Centers for Disease Control and Prevention to address health disparities in kidney disease. The bill would support initiatives like expanding ongoing kidney disease research and addressing lower kidney transplantation rates in underserved communities. “This legislation is vital in addressing health disparities, improving the social determinants of health in the U.S. and ensuring that all kidney patients have access to the care they need. The introduction of this bill is just the first step. AKF is urging other members of Congress to cosponsor this important legislation to help it advance.” About the American Kidney Fund The American Kidney Fund (AKF) fights kidney disease on all fronts as the nation’s leading kidney nonprofit. AKF works on behalf of the 37 million Americans living with kidney disease, and the millions more at risk, with an unmatched scope of programs that support people wherever they are in their fight against kidney disease—from prevention through transplant. With programs that address early detection, disease management, financial assistance, clinical research, innovation and advocacy, no kidney organization impacts more lives than AKF. AKF is one of the nation’s top-rated nonprofits, investing 97 cents of every donated dollar in programs, and holds the highest 4-Star rating from Charity Navigator and the Platinum Seal of Transparency from GuideStar. For more information, please visit KidneyFund.org, or connect with us on Facebook, Twitter, Instagram and LinkedIn. Contact Details American Kidney Fund Elissa Blattman +1 301-984-6644 eblattman@kidneyfund.org Company Website http://www.kidneyfund.org/

June 17, 2021 09:00 AM Eastern Daylight Time

Cyvatar Raises an Additional $9 Million in Series A Round

Cyvatar

Cyvatar today announced that it has raised $9 million as part of its Series A financing to help scale and serve its rapidly growing customer base and continue to drive the adoption of its innovative cybersecurity-as-a-service (CSaaS) model. Escalating cybersecurity breaches and the need to address vulnerabilities across systems, networks, and apps fuel the security services market, expected to reach $193 billion by 2028. Additionally, the growth in hybrid and remote workers coupled with unsecured and unpatched BYOD devices further underscores the need for on-demand cybersecurity resources that include human talent, proven processes, and best-of-breed technology delivered from a single intuitive platform. Cyvatar has grown more than 200% since its debut in October. ATX Venture Partners led the round with additional participation from existing customer CORTEC and longtime Cyvatar investor Bill Wood Ventures. Cyvatar closed a $3 million seed round late last year, bringing the total amount raised over the last eight months to $12 million. “We’ve seen fundraising explode in the security space, in part as a result of the raft of ransomware, email compromise, and phishing attacks that have made people more aware of the problem and increased the need to fix it quickly and effectively,” said Chris Shonk, partner at ATX Venture Partners. “Cyvatar is an exciting addition to our dynamic portfolio and a natural fit alongside our other rapidly growing organizations. No other company we evaluated solves the problems of cybersecurity like Cyvatar. With Cyvatar CSaaS, security becomes as effortless as turning on the lights. There’s no better value for customers.” Cyvatar CSaaS offers security in a box for organizations of any size and any level of cybersecurity expertise--already more than 150 platform members have started the security journey with Cyvatar. Its mature sales and marketing engine makes it easy for new members to join and offers ongoing education and support for existing customers to continuously remediate evolving threats, safeguard critical systems, and boost compliance scores. "I can tell you that after implementing just three Cyvatar solutions, our security confidence is a lot stronger than it was before and our company as a whole is far more secure,” said Brent Fanguy, vice president of technology at CORTEC. “We applaud Cyvatar for pricing by employee count because it’s so easy to calculate and fit into our budget -- no counting servers or workstations, which is a nightmare. Cyvatar has delivered consistent value from our security spend, and we look forward to continuing to grow our partnership with them.” Whether customers need to speed their sales cycles, remediate after a breach, prevent future incursions, or respond to a third-party risk assessment, Cyvatar helps them achieve superior business outcomes every day. Click HERE to get started free and learn more about how Cyvatar is making cybersecurity effortless for every business. About Cyvatar Cyvatar is committed to effortless cybersecurity for everyone. As the industry’s first subscription-based, cybersecurity-as-a-service (CSaaS) company, it’s our mission to transform the way the security industry builds, sells, and supports cyber solutions. We empower our members to achieve successful outcomes by providing expert advisors, proven technologies, and a strategic process roadmap to guarantee results that map to their business drivers. Our approach is rooted in proprietary ICARM (installation, configuration, assessment, remediation, maintenance) methodology that delivers smarter, measurable security solutions for superior compliance and cyber-attack protection faster and more efficiently, all at a fixed monthly price. And because we’re a subscription, members can cancel anytime. Cyvatar is a global organization with operations around the world. Begin your journey to security confidence at cyvatar.ai and follow us on Facebook, Instagram, LinkedIn, Twitter, and YouTube. About ATX Venture Partners ATX Venture Partners is an early-stage venture capital firm specializing in the South-Central US. The firm’s seed and Series A investments focus on software-as-a-service, IoT, e-commerce, AI, frontier commercial technologies and mobile applications. ATX Venture Partners brings institutional-grade funding, process and rigor to early-stage venture capital investments, and is the partner to propel portfolio companies forward to larger growth capital. The firm was founded in 2014 and is based in Austin, Texas. Visit www.atxventurepartners.com, and follow them on Twitter, Facebook, and LinkedIn. Contact Details Cyvatar KC Higgins +1 303-434-8163 kc@cyvatar.ai ATX Ventures Meg Brigman +15127666462 meg@atxventurepartners.com Company Website https://cyvatar.ai/

June 17, 2021 07:00 AM Eastern Daylight Time

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CDFI Coalition Praises Biden Administration and Congress for Release of Rapid Release Funding for CDFIs.

CDFI Coalition

The CDFI Coalition applauds the release of $1.25 billion in emergency funding for Community Development Financial Institutions (CDFIs), which will use these new resources to provide patient capital and technical assistance to businesses and projects in low-income rural and urban communities. “ Our mission is to encourage fair access to financial resources for America’s underserved people and communities,” said John Holdsclaw IV, President of the CDFI Coalition and Executive Vice President of the National Cooperative Bank. “The hard work and efforts of our CDFI Coalition members have forged an achievement today that will pay dividends across underserved, hard-hit communities and businesses. I’m proud that our voices brought action at the highest levels of government to the needs that exist.” Over the last 18 months, as the coronavirus was upending small community businesses, the CDFI Coalition worked with Congress to support and enhance the work of CDFIs in low- and moderate-income communities and communities of color. Congress ultimately provided new resources for CDFIs through a Paycheck Protection Act (PPP) set-aside and $12 billion in new funding for the CDFI Fund. The idea to significantly boost support for CDFIs originated in the House Appropriations Committee in 2020. HR 6800, The HEROS Act, included $1 billion in financial assistance for CDFIs to support businesses and communities impacted by the coronavirus pandemic. Later, in the December 2020 coronavirus relief package, the House provision grew to $1.25 billion in financial assistance for CDFIs, which was awarded Tuesday by the Treasury Department through the Rapid Response Program. The December 2020 legislation also included $1.75 billion through the Emergency Support and Minority Lending Program to support financial services in communities of color, as well as an additional $9 billion for the Emergency Capital Investment Program to support capital and services in low- and moderate-income, historically disadvantaged communities impacted by COVID-19. In total, Congress provided a record $12 billion to the CDFI Fund. These resources will significantly enhance the work CDFIs are already doing in low-income communities. In FY 2020, CDFI Fund financial assistance recipients made over 1,000,000 loans or investments totaling more than $25.4 billion. [1] The average size of each loan or investment was under $25,000. CDFIs also financed over 41,000 affordable housing units. CDFI loans and investments include $10 billion for consumer loans, $6.5 billion for home improvement and purchase loans, $3.9 billion for business and microenterprise loans, and $2.2 billion for residential real estate transactions. CDFIs also helped ensure PPP resources reached underserved communities, but not without some changes to the program. The initial round of PPP left many economically distressed communities behind. In April 2020, the Coalition led the way to establish a set-aside for CDFIs and other mission-driven lenders – Community Financial Institutions (CFIs). Newly armed with a PPP set-aside, CFIs went to work. According to data from the Small Business Administration (SBA), as of May 31, 2021, CFIs had made 1.6 million PPP loans (21% of all PPP loans) for $34 billion in PPP funds (11% of PPP loan funds offered). Loans made through CFI lenders had an average PPP loan size of $21,254, compared to $41,560 across all lender classes, demonstrating the focus of CFI lending to small and micro-businesses. In addition, nearly 40% of CFIs’ loans reached businesses in low and moderate-income communities, compared to 28% across all lending sources. Both the Rapid Response Program and the PPP set-aside helped CDFIs expand their reach in communities hardest hit by the coronavirus. CDFIs are using these resources to promote job creation, business opportunities in low-income, minority, rural and tribal communities across America. [1] Audit of the CDFI Fund’s 2020 financial statements by the Treasury Dept. Office of Inspector General About the CDFI Coalition The CDFI Coalition is the unified national voice of community development financial institutions. Formed in 1992 as an ad-hoc policy development and advocacy initiative, the Coalition of Community Development Financial Institutions (CDFI Coalition) is the lead national organization in the United States promoting the work of community development financial institutions (CDFIs). Through its 150+ member organizations, the Coalition represents CDFIs working in all 50 states and the District of Columbia and includes community development loan funds, community development banks, community development credit unions, microenterprise lenders, community development corporations and community development venture capital funds. The CDFI Coalition coordinates industry-wide initiatives to increase the availability of capital, credit, and financial services to low-income communities across the nation. Read more at cdfi.org. Contact Details CDFI Coalition Greg Wilson +1 571-239-7474 greg@curleycompany.com Company Website https://cdfi.org/

June 16, 2021 03:12 PM Eastern Daylight Time

New high-tech health screening technology to detect COVID-19 symptoms

Ontario Tech University

As a research leader in the ethical deployment of new technologies, Ontario Tech University is working with data sensory and ‘Internet of Things’ (IoT) company SmartCone Technologies to test a high-tech system capable of real-time multi-symptom screening for COVID-19. Making sense of scent loss Loss of smell is a common indicator of COVID-19 infection. Various research studies show loss of smell affects anywhere between 80 and 96 per cent of COVID-19-positive patients. U.S. agencies such as the Centers for Disease Control and Prevention, and the National Institutes of Health recognize and recommend smell testing for COVID-19 screening. SmartCone’s anonymous, two-step web-based health-screening process, dubbed SYMP2PASS, combines COVID-19 sense-of-smell testing with smart kiosks, thermal scanners, and other technologies to provide private, speedy, and reliable COVID-19 screening without accessing personal information: At home: In the privacy of their own home, a person uses their smart device to scan the QR code located on the company’s SYMP2PASS scent test packet, completes the smell test, and answers additional screening questions. They receive immediate confirmation of test results. In public spaces: If the person passes the at-home pre-screening, they will receive another QR code that provides a 24-hour ‘Day Pass’ to enter a SYMP2PASS Smart Kiosk set up at the entry point to the public venue they wish to access. The kiosk has a thermal camera with a sensor that tests for fever. The kiosk also uses mask-image recognition to ensure anyone entering a location is wearing a mask. SmartCone has a federal research contract with Innovation, Science and Economic Development's (ISED) Innovation Solutions Canada Sector to develop the technology. SYMP2PASS benefits SmartCone estimates onsite point-of-entry screening can reduce COVID-19 spread by up to 75 per cent, making the system ideal for any business or high-traffic location, such as professional sports stadium or a major amusement park. SYMP2PASS will: Help organizations follow current and future screening requirements mandated by various levels of governments and health authorities. Collate data from all access points and in-home measurements to ensure employers meet all privacy regulations. Support workplace contact-tracing capabilities. Warn participants of positive test results. Provide access control for visitors/guests and employees. Quotes “A crucial role the Ontario Tech University research enterprise plays is supporting lab-to-market initiatives. Our collaboration with SmartCone and Innovation, Science and Economic Development Canada is an exemplar of this role and will be a model for future product research, testing and validation of new technologies.” - Dr. Les Jacobs, Vice-President, Research and Innovation, Ontario Tech University "Innovation, Science and Economic Development was instrumental in being able to demonstrate our ability to fight COVID. They were very professional, organized and easy to work with. SmartCone is now selling to U.S. companies as a direct result of the demonstration." - Jason Lee, CEO, SmartCone Technologies About SYMP2PASS Powered By SmartCone SYMP2PASS, developed in conjunction with doctors and researchers, is the first anonymous end-to-end advanced health screening web process. Using our patent pending ScentsiBLE scent test paired with multi-symptom survey, SYMP2PASS will help reduce the spread of COVID and save businesses and countries millions of dollars. Learn more at www.symp2pass.com About SmartCone Technologies, Inc. SmartCone Technologies Inc. (SCTI) is a unique data sensory company that commercializes new Internet-of-Things (IoT) technologies powering a wide array of sensors, edge computing, sensor fusion and artificial intelligence (AI). TheSmartCone™ solutions have been used most recently in " Return to Work " solutions during the COVID-19 pandemic, as well as securing dangerous work sites, controlling bicycle lane traffic, managing vehicle fleets, smart warehouses, crowd control, and more. Visit us at www.thesmartcone.com Contact Details Tenille Houston +1 613-617-7467 tenille@thesmartcone.com

June 16, 2021 02:30 PM Eastern Daylight Time

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