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HomeMy WebLinkAbout2/7/2018 - STAFF REPORTS - 1.C. 40�V AIM sp4 iy ti O V N • ice ,.� C4�rFORN�P CITY COUNCIL STAFF REPORT DATE: February 7, 2018 CONSENT CALENDAR SUBJECT: PALM SPRINGS INNOVATION HUB AND ACCELERATOR CAMPUS QUARTERLY AND ANNUAL REPORTS FROM: David H. Ready, City Manager BY: Community and Economic Development Department SUMMARY The Consulting Services Agreement approved July 6, 2016, with the Coachella Valley Economic Partnership ("CVEP") requires CVEP to prepare and submit quarterly Palm Springs Innovation Hub ("PSiHub") reports. This item will receive and file the fourth quarterly report and annual report for the 2017 Calendar Year. RECOMMENDATION: Receive and file the fourth quarterly report from the Coachella Valley Economic Partnership for the Palm Springs Innovation Hub for the period of October 1 to December 31, 2017, and the annual report for the period of November 1, 2016 to December 31, 2017. STAFF ANALYSIS: On July 6, 2016, the City Council approved Consulting Services Agreement (A6875) with CVEP for continued management of the PSiHub and Palm Springs Accelerator Campus, (the "Program"). The Agreement facilitates the terms by which CVEP delivers management, administrative and client services to meet the goals of the Program, including, but not limited to, providing education, support, training, business assistance, and networking programs. CVEP also manages the physical office space reserved for PSiHub clients housed at the Rabobank Regional Business Center and at the Accelerator Campus. In accordance with the Agreement, CVEP is required to submit quarterly and annual progress reports to the City identifying how the program is performing. riEM NO. City Council Staff Report February 7, 2018--Page 2 Coachella Valley Economic Partnership Report CVEP has submitted its fourth quarterly report for the period of October 1 to December 31, 2017, which is included as Attachment 1 for reference. CVEP also submitted the State Annual Report for the period November 1, 2016 to December 31, 2017, which is included as Attachment 2 for reference. Highlights for the fourth quarter include adding two new iHub clients for a total of thirty six clients; Secosys (iHub client) entered into a partnership with Comcast for a pilot program with Mission Springs Water District; and CVEP completed the application for the next round of IN2 Incubator funding from Wells Fargo Bank. ENVIRONMENTAL IMPACT: Section 15061 (b)(3) of the California Environmental Quality Act ("CEQA") Guidelines exempts activities that are covered under the general rule that CEQA applies only to projects that have the potential to cause significant effects on the environment. Where it can be seen with certainty that there is no possibility the activity in question may have a significant effect upon the environment, the activity is not subject to CEQA. The requested action requests the City Council receive and file a quarterly report on the activities of CVEP and the PSiHub, which itself will not result in any new direct physical impacts to the environment. Therefore, the requested action is considered exempt from CEQA. FISCAL IMPACT: The City compensates CVEP $196,500 annually, paid in quarterly payments upon submission of the Quarter Report metrics required by the Agreement. SUBMITTED: Jay Fi—raya, Director of Community David H. Ready, Esq.,InfT and Eanomic Development City Manager Attachments: 1. PS iHub & Accelerator Campus Quarterly Report October 1 to December 31, 2017. 2. PSiHub &Accelerator Campus Annual Report November 30, 2016 to December 31, 2017. 02 City Council Staff Report February 7, 2018--Page 3 Coachella Valley Economic Partnership Report ATTACHMENT 1 Palm Springs Hub and Accelerator Campus Quarterly Report October 1 to December 31, 2017 03 PALM SPRINGS IHUB AND ACCELERATOR CAMPUS QUARTERLY REPORT October 1 — December 31, 2017 Submitted by: Joe Wallace Palm Springs Nub Managing Director January 4, 2018 04 Executive Summary The Palm Springs Innovation Hub (PSiHub) is a State designated business incubator funded by the City of Palm Springs and managed by the Coachella Valley Economic Partnership (CVEP), an economic development organization serving the entire region. Currently the investors in the iHub are the City of Palm Springs, the Desert Healthcare District, and Wells Fargo Bank. In 2013 the City of Palm Springs and the Desert Healthcare District partnered to fund the refurbishment of a 43,000 square foot complex of buildings now known as the Palm Springs Accelerator Campus. The purpose for this campus is to encourage promising companies with proven concepts and markets to establish their supply chains and manufacturing operations in Palm Springs to reduce the risk of flight to places like Silicon Valley where exemplary incubation clients are often enticed by venture capital. The iHub's primary focus is on early stage businesses in the renewable energy and associated technology space. The iHub facilitates education, support, training, business assistance, and networking programs to contributing members, and overseas operations of a small business incubator. This report covers the fourth quarter of 2017. The quarter saw the client base in the iHub exceed capacity with 7 in-house, 12 in the Accelerator Campus, and 17 virtual clients for a total of 36 clients. A number of metrics for evaluating PSiHub progress were checked that are consistent with the goals of creating wealth and setting the transformation of the Coachella Valley economy into motion. PS Mub Q4 2017 Report Introduction The Nub is a network that enhances Coachella Valley's competitiveness by stimulating partnerships and collaborations that accelerate investment and economic development around research clusters. The iHub is focused on clean technology,with emphasis on sustainable businesses, renewable energy,and enhancing technologies. The goals of the Nub include: • Transform the local economy through growing renewable energy based enterprises • Continue to accept 10 companies per year in perpetuity after achieving the goal of 50 companies in the first 5 years • Create local high paying technology and manufacturing jobs in the Coachella Valley • Develop programs to enable and encourage the Coachella Valley and California compete in the global marketplace • Increase the per capita household income and standard of living regionally • Attract angel and venture capital investments in client companies The Nub operates a small business incubator that has the capacity to mentor up to six clients in-house at the Rabobank Regional Business Center,twelve at the Accelerator Campus,and twelve virtually. The Nub offers office space to clients,complete with office equipment and amenities,access to shared conference rooms,a board room,and a dedicated staff that monitors and assists the clients. CViHub clients have access to professional services at free or reduced costs,targeted training classes,and workshops. 05 Community Relations/Accolades The iHub participated in the following events this quarter: • Riverside County EDA Regional Planning Sessions • Monthly California Innovation Hub Conference Calls(3) • Spoke at 2017 CVEP Economic Summit • CSUSB-PD Advancement Board of Directors: Executive Committee • CSUSB-PD: Invited Speaker on entrepreneurship Palm Springs iHub Clients on December 31,2017 The iHub started Q4-2017 with thirty four incubator clients. During the third quarter a total of 4 applications or visits of interest to the iHub were reviewed and two were accepted. The total at the end of the quarter was thirty six. Partnership Activity The partnerships resulted in tangible activity during this quarter: • Univ.of Redlands agreed to have 5 MBA students do a study on CVEP operational activities • Palm Springs Life Magazine agreed to work with CVEP on a business publication • Working with PSL and CVB to put together a Ernst&Young local opportunities event • Working with PSL and CVB to establish a spring event to debut in 2019 that is a "thought"conference modelled after the Idea Festival in Louisville, KY. Metrics: The PSiHub updates their metrics and reports on them quarterly. The metrics include: Metric Result Number of resident companies 7 Number of Virtual Companies 17 Accelerator Campus Clients 12 — ---___ -- _ ------_-- _.._._... __.__...._ Number of graduating companies 0(11 total to date),with 12 others receiving services. Number of jobs created by PSiHub companies to date 169(2 this quarter) Revenue/sales from PSiHub companies(estimated for quarter) Greater than $1 Million Investment Dollars Raised by PSiHub Clients $400,000 equity Number of sponsors,corporate partners, members or contracts for the Over 200 identified iHub Number of patent applications and issued patents(total) Patent and Trademark applied for Number of licenses or agreements by PSiHub companies 1 in discussion Funding sources and amounts leveraged/invested WFB still under review Number of companies receiving outreach services 8(excluding iHub clients) Number of entities providing outreach services 4 06 Client Highlights from Q2-2017 • Companies domiciled at the Palm Springs Accelerator Campus are all running ahead of their sales for 2016 by percentages ranging from a low of 35%to a high of over 100%. It is expected that iHub companies had about$7 Million in revenue in 2017 • SecoSys deal with Rainbird has been terminated amicably. Secosys has new financial backers and is negotiating with Comcast. • INDY Power Systems converted from an LLC to a C Corp to facilitate fund raising efforts and earned first profits • EV Enterprises negotiating an order for over$2M solar/batter storage project • Rick Axelrod of Lifestream(Board Member)was named a category champion at Spirit of the Entrepreneur Awards Previously Stated Goals for Q4-2017 • Apply for next round of IN2 Incubator funding from Wells Fargo(Completed) • Continue to attempt to establish a volunteer attorney in residence for Nub companies: Identify more candidates(Yes) • Continue to investigate feasibility for having a Maker Space at the Accelerator Campus. Supplier under consideration is Gene Sherman of Riverside who has a similar facility up and running there.(City of La Quinta doing this,we will have access) • Speak at three local civic organizations about what CVEP and the Nub do to add value to the economy(Completed) • Make funding presentation to III)(Completed and funded for$10,000 which is a reduction from $35,000 last year) Goals for Q4-2017 • Continue dialog with Wells Fargo for IN2 funding • Continue to attempt to establish a volunteer attorney in residence for Nub companies • Establish Marketing and Publishing partnership with Palm Springs Life Magazine • CVEP staff to complete conversational Spanish language training • Speak at three local civic organizations about what CVEP and the Nub do to add value to the economy • Audit Report completed • Start dialog with City of Palm Springs for Nub management contract for period beginning July 1, 2018 Measure J Progress Report • All projects completed and all dollars expended and accounted for. Appendices: • iHub Companies circa December 31, 2017 07 3111 E.Tahquitz Canyon Way Palm Springs,CA 92262 p: (760)340-1575 p:(760)548-0370 w: CViHub.com Palm springs!Hub Roster(End of Q4 2017) Energy(Renewables/Management/Conservation) • Desert GeoExchange: Parent company Geothermal Resource Group provides drilling services. Desert GeoExchange is evaluating its entrance into geothermal heating/cooling systems. • EV Enterprises: Producer of lithium-ion battery components, microelectronics and other related products for electric vehicle applications and more. *Located at Palm Springs Accelerator Campus • Heppolt:Heppolt has created a new wind turbine.The design allows for installation & maintenance to be carried out at ground level as opposed to current vertical turbines. HWE is receiving support from Los Alamos National Lab. • Indy Power Systems:Offers a patented energy blending technology to enable customers to minimize their load charges by storing energy during periods of low demand for use during peak demand times. • Sactec Solar.A designer and manufacturer of all-in-one alternative energy solution systems. These units can be deployed in regions or situations where power is not easily accessible. *Located at Palm Springs Accelerator Campus • SECOSYS:Their platform seamlessly integrates into existing water meters to manage, control & conserve water in real-time for water districts, property managers and consumers. *Located at Palm Springs Accelerator Campus • Solaris Power Cells: Producer of super capacitor, solid-state cells that have the potential to store energy with rapid charging rates. *Located at Palm Springs Accelerator Campus • SolAqua: China-based manufacturer of solar/solar thermal components looking to establish a U.S.-based manufacturing hub. • Swiss Hytech:Swiss-based business engaged in hybrid LeMans racing.Their technology uses a flywheel to store energy as opposed to other storage systems such as battery systems. • Vestaxx: German-based startup developing insulating glass units for applications in intelligent and dynamic windows and glass building facades. Their propriety glass coating technology increases thermal insulation efficiency. Healthcare/Medical Innovation • ButterFLi Inc.: ButterFLi has created a local infrastructure for on-demand assisted transportation for seniors and those with disabilities, such as those who are wheelchair-bound. ButterFLi is like UBER but for non-emergency medical transportation for seniors and those with disabilities. *Located at Palm Springs Accelerator Campus QO 3111 E.Tahquitz Canyon Way Palm Springs,CA 92262 p:(760) 340-1575 p:(760) 548-0370 w: CViHub.com • The Connected Grip:The Connected Grip executive team includes a former member of RIM's(Research In Motion) Blackberry team. They are developing new products in the exercise machine category that incorporate new technologies such as predictive modelling and customized Uls. *Located at Health&Medical Innovation Center • Elizabeth Wong: Elizabeth Wong is a local CRNA who was recently granted a U.S. patent for a new sterile IV port and syringe system.She is currently working on prototype variations of this system. • GattaCo: Developing products that replace the need for centrifuges and allows for extraction of plasma from whole blood in half the time of current means. *Located at Health&Medical Innovation Center • Incontinence Technologies:The Fanny Wrapper is an adult diaper system with an integrated sensor unit used to aid caretakers of incontinent adults. • Pacific Coast Innovations: Designer of a proprietary data compression algorithm that has many different industry applications.Their first application will be in the manufacturing of medical devices. • Pet Projx LLC. Pet Projx is introducing a new hand sanitizer/disinfectant that will focus on the social acceptance, appeal and form factor that currently hinders this category. Pet Projx also has ancillary products to introduce down the road that would expand into the beauty and cosmetics category. • Priatas: A medical device company focused on intelligent design of medical and lab ware disposables throughout the entire life cycle of the product. By using less material and modulating instruments, they hope to decrease medical waste. *Located at Health&Medical Innovation Center • PureOzone 360: Currently researching a new type of disinfectant that would use proprietary technology for end-consumer sales. • Restroom Aid: A proprietary system designed to give independence to handicapped individuals who otherwise need assistance using the restroom. • Shannon Stevens: Shannon Stevens is a local nurse who has developed a medical-product to be used in operating room environments for the irrigation of limbs or other body parts subjected to trauma that need to be cleaned and treated. • TronsMedimaging: Operates in the electronic health record industry. Their propriety service eliminates waste in medical imaging by facilitation of cloud based data,and hi-res medical images storage. • CAIA (Care Always in All-Ways): A universal patient portal that gives patients the ability to control and engage with their and their family's healthcare across the entire care continuum by connecting he portal to all existing EHR(Electronic Medical Record)systems using block chain technology as a ledger. Software—Primary(Education,Lifestyle,Marketing,Social Media) • Pocial.A new,creative social network designed to connect like-minded individuals based around polling in an effort to foster and encourage debate,create a collective voice and quantify opinions. 09 3111 E.Tahquitz Canyon Way Palm Springs, CA 92262 p:(760)340-1575 p:(760)548-0370 w: CViHub.com • PS Talent:Developer of virtual entertainment products on the Sony PlayStation platform • SpartaApp:Propriety mobile application platform for connecting artists with art collectors worldwide. • Spectrum Media:Spectrum is a cutting-edge,multi-media company leading the way in the production, distribution and marketing of audio and video content,across platforms. *Located at the Palm Springs Accelerator Campus • Wise Education:Delivers online English as a second language education worldwide using a unique video conferencing platform. • Kamran Choudary:Developing a smart phone app to facilitate the presentation and use of retail coupons using customer designations and recommendations to friends and family for delivery. Hardware—Primary(Security,Service,Social Media) • Heightened Security:HS is a local manufacturer of security solutions for residential and commercial clients.Their product can seamlessly integrate into existing security systems. • Paul Roide:Paul Roide is a local tradesman. He has developed and patented a new paint gun sprayer that aims to dramatically increase the efficiency of currently available models. *Located at the Palm Springs Accelerator Campus • Post Modern:A developer of integrated hardware/software systems for consumer marketing.Their system allows marketers to integrate social media into marketing events and tradeshows using interactive kiosks. *Located at Palm Springs Accelerator Campus • Seismic Warning Systems:Developing a regionally-based earthquake warning system with proprietary detection and customized-alert technology. Textile&Wearables • Eco Culture Manufacturing:Textile manufacturing focused on recyclable materials and integration of sensor technologies for smart devices. • HipS-sister:Manufacturer of the fashionable,functional and flattering alternative to the fanny pack that integrates a shield for electromagnetic fields caused by cell phones. *Located at Palm Springs Accelerator Campus • Platinum Sun:Designer of rash guards,leggings and neoprene jackets.Currently based in Miami with intentions of relocating operations to California. 10 City Council Staff Report February 7, 2018--Page 4 Coachella Valley Economic Partnership Report ATTACHMENT 2 Palm Springs Hub and Accelerator Campus Annual Report November 1, 2016 to December 31, 2017 COACHELLA iHV E PALM SPRINGS IHUB AND PALM SPRINGS ACCELERATOR CAMPUS ANNUAL REPORT November 30, 2016 — December 31, 2017 Submitted by: Joe Wallace CVEP CEO, Chief Innovation Officer & PSiHub Managing Director January 5, 2018 12 Executive Summary The Palm Springs Innovation Hub (CViHub) is a State designated business incubator initially funded by the Western Coachella Valley cities, Palm Springs, Desert Hot Springs, and Cathedral City. It is managed by the Coachella Valley Economic Partnership (CVEP) an economic development organization serving the entire region. Currently the investors in the CViHub are the City of Palm Springs, the Desert Healthcare District, and Wells Fargo Bank. The PSiHub's primary focus is on early stage businesses in the renewable energy and associated technology space. The PSiHub facilitates education, support, training, business assistance, and networking programs to contributing members and overseas operations of a small business incubator. The Palm Springs Accelerator Campus is designed to continue the mitigation of risks associated with entrepreneurship through early stage manufacturing. The goal in extending the incubation period is to inspire the companies to assemble a workforce and establish their supplier base in greater Palm Springs which enhances the probability that the businesses will prosper and grow in Palm Springs into the indefinite future. This report covers the period from November 30, 2016 to December 31, 2017. The period saw the client base in the PSiHub grow to over capacity with 7 in-house, 12 in the Accelerator Campus, and 17 virtual clients for a total of 36 clients. There have been 12 businesses that have entered the PS iHub that have graduated according to the criteria set forth by the State of California Go-Biz Office. The Palm Springs Accelerator Campus construction project was completed in July 2016 and now offers 43,000 square feet of manufacturing and R&D space for PSiHub companies. The total cost of the adaptive reuse project was $1,900,000 that amounts to $44.19 per square foot. A number of metrics for evaluating PSiHub progress were checked that are consistent with the goals of creating wealth and setting the transformation of Greater Palm Springs' economy into motion. To date PSiHub and Accelerator Campus clients have been granted 22 patents, have raised just over $22 Million in equity investments, and employ over 160 people. There are currently 36 companies that are in the Palm Springs !Hub and 9 that have gone through our program. 13 PSiHub 2017 State of California Report Introduction The PSiHub is a network that enhances Coachella Valley's competitiveness by stimulating partnerships and collaborations that accelerate investment and economic development around research clusters. The PSiHub is focused on clean technology,with emphasis on sustainable businesses, renewable energy, and enhancing technologies. The goals of the PSiHub include: • Transform the local economy through growing renewable energy based enterprise • Nurture, attract, and grow 50 renewable energy based companies in 5 years • Create local high paying technology and manufacturing jobs in the Coachella Valley • Develop programs to enable and encourage the Coachella Valley and California compete in the global marketplace • Increase the per capita household income and standard of living regionally • Attract angel and venture capital investments in client companies The PSiHub operates a small business incubator that has expanded capacity to mentor up to eight clients in-house at the Rabobank Business Center, 20 at the Accelerator Campus, and twenty virtually. The PSiHub offers office space to clients, complete with office equipment and amenities,access to shared conference rooms, a board room, and a dedicated staff that monitors and assists the clients. PSiHub clients have access to professional services at free or reduced costs, targeted training classes and workshops. Community Relations • Renewable Energy Roundtable (monthly) • Monthly California Innovation Hub Conference Calls(monthly) • Business Services Fireside Chats(monthly) • Partnership with National Renewal Energy Lab (NREL) • Partnership with Federal Lab Consortium (FLC)through Norco Naval Center • Wells Fargo Bank IN2 Incubator Channel Partner • Numerous presentations to civic organizations and city councils • Tech Transfer agreement with the Austrian Trade Commission Awards • Inland Empire Spirit of the Entrepreneur Award for Supporter of Entrepreneurship • Inland Empire Spirit of the Entrepreneur Award for of Emerging Business o Two Champions o Four Runners Up • Clean Air Award from South Coast Air Quality Management District • Martin Luther King Legacy of Service Award: Southern CA Black Chamber of Commerce • SBDC Money Club Award • Ernst&Young Entrepreneur of the Year: Nominee • World's Best Technology Silver Award • SBEMP Business Leadership Awards: 3 (Secosys, PS Talent,Joe Wallace) 14 Performance Metrics Metric Result i Number of resident companies 7 Number of Virtual Companies 17 Accelerator Campus Clients 12 - Number of graduating companies 12. j Number of jobs created by PSiHub companies to date 169 Revenue/sales from PSiHub companies(estimated for period) Greater than$7 Million i Investment Dollars Raised by PSiHub Clients $22,000,000 equity and $4,000„000 loans Number of sponsors,corporate partners,members or contracts for the Over 200 identified iHub Number of patent applications and issued patents(total) 22 issued Number of licenses or agreements by PSiHub companies 2 Funding sources and amounts leveraged/invested Banks,cities,and medical Number of companies receiving outreach services 69 Palm Springs iHub Roster December 31, 2017 Energy(Renewables/Management/Conservation) • Desert GeoExchonge: Parent company Geothermal Resource Group provides drilling services. Desert GeoExchange is evaluating its entrance into geothermal heating/cooling systems. • EV Enterprises: Producer of lithium-ion battery components, microelectronics and other related products for electric vehicle applications and more. *Located at Palm Springs Accelerator Campus • Heppolt: Heppolt has created a new wind turbine.The design allows for installation & maintenance to be carried out at ground level as opposed to current vertical turbines. HWE is receiving support from Los Alamos National Lab. • Indy Power Systems:Offers a patented energy blending technology to enable customers to minimize their load charges by storing energy during periods of low demand for use during peak demand times. 15 3111 E.Tahquitz Canyon Way C OA C H E L LA Palm Springs, CA 92262 VALLEY p:(760)340-1575 ' Hub f: : C iHub.c 70 w: CViHub.com • Sactec Solar.A designer and manufacturer of all-in-one alternative energy solution systems. These units can be deployed in regions or situations where power is not easily accessible. *Located at Palm Springs Accelerator Campus • SECOSYS:Their platform seamlessly integrates into existing water meters to manage, control & conserve water in real-time for water districts, property managers and consumers. *Located at Palm Springs Accelerator Campus • Safaris Power Cells: Producer of super capacitor, solid-state cells that have the potential to store energy with rapid charging rates. *Located at Palm Springs Accelerator Campus • So/Aqua: China-based manufacturer of solar/solar thermal components looking to establish a U.S.-based manufacturing hub. • Swiss Hytech:Swiss-based business engaged in hybrid LeMans racing.Their technology uses a flywheel to store energy as opposed to other storage systems such as battery systems. • Vestoxx: German-based startup developing insulating glass units for applications in intelligent and dynamic windows and glass building facades. Their propriety glass coating technology increases thermal insulation efficiency. Healthcare/Medical Innovation • ButterFLi Inc.: ButterFLi has created a local infrastructure for on-demand assisted transportation for seniors and those with disabilities,such as those who are wheelchair-bound. ButterFLi is like UBER but for non-emergency medical transportation for seniors and those with disabilities. *Located at Palm Springs Accelerator Campus • The Connected Grip:The Connected Grip executive team includes a former member of RIM's(Research In Motion) Blackberry team. They are developing new products in the exercise machine category that incorporate new technologies such as predictive modelling and customized Uls. *Located at Health&Medical Innovation Center • Elizabeth Wong: Elizabeth Wong is a local CRNA who was recently granted a U.S. patent for a new sterile IV port and syringe system.She is currently working on prototype variations of this system. • GattoCo: Developing products that replace the need for centrifuges and allows for extraction of plasma from whole blood in half the time of current means. *Located at Health&Medical Innovation Center • Incontinence Technologies:The Fanny Wrapper is an adult diaper system with an integrated sensor unit used to aid caretakers of incontinent adults. • Pacific Coast Innovations: Designer of a proprietary data compression algorithm that has many different industry applications.Their first application will be in the manufacturing of medical devices. y (" .� 6 3111 E.Tahquitz Canyon Way COA C H E LLA Palm Springs,CA 92262 VALLEY p: (760)340-1575 iHub f: : C iHub.c 70 w: CViHub.com • Pet Projx LLC: Pet Projx is introducing a new hand sanitizer/disinfectant that will focus on the social acceptance, appeal and form factor that currently hinders this category. Pet Projx also has ancillary products to introduce down the road that would expand into the beauty and cosmetics category. • Priatas: A medical device company focused on intelligent design of medical and lab ware disposables throughout the entire life cycle of the product. By using less material and modulating instruments, they hope to decrease medical waste. *Located at Health& Medical Innovation Center • PureOzone 360. Currently researching a new type of disinfectant that would use proprietary technology for end-consumer sales. • Restroom Aid: A proprietary system designed to give independence to handicapped individuals who otherwise need assistance using the restroom. • Shannon Stevens: Shannon Stevens is a local nurse who has developed a medical-product to be used in operating room environments for the irrigation of limbs or other body parts subjected to trauma that need to be cleaned and treated. • TransMedimaging: Operates in the electronic health record industry. Their propriety service eliminates waste in medical imaging by facilitation of cloud based data,and hi-res medical images storage. • CAIA (Care Always in All-Ways): A universal patient portal that gives patients the ability to control and engage with their and their family's healthcare across the entire care continuum by connecting he portal to all existing EHR (Electronic Medical Record)systems using block chain technology as a ledger. Software—Primary(Education, Lifestyle, Marketing,Social Media) • Pocial:A new,creative social network designed to connect like-minded individuals based around polling in an effort to foster and encourage debate,create a collective voice and quantify opinions. • PS Talent:Developer of virtual entertainment products on the Sony PlayStation platform • SpartaApp:Propriety mobile application platform for connecting artists with art collectors worldwide. • Spectrum Media:Spectrum is a cutting-edge, multi-media company leading the way in the production, distribution and marketing of audio and video content,across platforms. *Located at the Palm Springs Accelerator Campus • Wise Education:Delivers online English as a second language education worldwide using a unique video conferencing platform. • Kamran Choudary:Developing a smart phone app to facilitate the presentation and use of retail coupons using customer designations and recommendations to friends and family for delivery. 17 3111 E.Tahquitz Canyon Way COACH E LLA Palm Springs,CA 92262 VALLE p:(760)340-1575 H ub f : C 5 ub.com w: CViHub.com Hardware—Primary(Security,Service,Social Media) • Heightened Security.HS is a local manufacturer of security solutions for residential and commercial clients.Their product can seamlessly integrate into existing security systems. • Paul Roide: Paul Roide is a local tradesman. He has developed and patented a new paint gun sprayer that aims to dramatically increase the efficiency of currently available models. *Located at the Palm Springs Accelerator Campus • Post Modern:A developer of integrated hardware/software systems for consumer marketing.Their system allows marketers to integrate social media into marketing events and tradeshows using interactive kiosks. *Located at Palm Springs Accelerator Campus • Seismic Warning Systems:Developing a regionally-based earthquake warning system with proprietary detection and customized-alert technology. Textile&Wearables • Eco Culture Manufacturing:Textile manufacturing focused on recyclable materials and integration of sensor technologies for smart devices. • HfpS-sister:Manufacturer of the fashionable,functional and flattering alternative to the fanny pack that integrates a shield for electromagnetic fields caused by cell phones. *Located at Palm Springs Accelerator Campus • Platinum Sun:Designer of rash guards, leggings and neoprene jackets. Currently based in Miami with intentions of relocating operations to California. 3111 E.Tahquitz Canyon Way C OA C H E L LA Palm Springs,CA 92262 VALLEY p: (760) 340-1575 i Hub f : C 5 ub.com w: CViHub.com CVEP Economic Impact 2016 Elliot D. Pollack&Company March 2, 2017 Commissioned by: Southern California Edison Impact PS Nub Business Services Totals Direct $55.0 M $2.3 M $57.3 M Indirect $10.3 M $0.7 M $11.0 M Induced $11.0 M $1.0 M $12.0 M Total $76.3 M $4.0 M $80.3 M