Stage 2 Innovations Expands Eligibility For $100 Million Fund

The Stage 2 Innovations fund, co-founded by former Chrysler CEO Tom LaSorda, said Tuesday it will begin to accept applications this week from second-stage companies that do not have patented technologies.

Fund officials said that since its announcement three weeks ago, Stage 2 "has received an impressive amount of applications from all over the country, and feedback from the entrepreneurial community drove the decision.

"There was an expressed disappointment from technologies with no patents attempting to apply," said Stage 2 partner Brian Polowniak. "Patent or no patent we are interested in market-ready technologies. Bottom line is what really defines a technology s potential is its ability to impact the world and the way we do business. And we intend to find innovations that do just that."

Stage 2 Innovations is currently accepting applications, with or without patents, online. The fund remains focused on investing in second stage companies that have market-ready technologies and seek significant, steady growth.

According to the Edward Lowe Foundation, a nonprofit organization, there were over 1.6 million second stage companies in the U.S. in 2008.

Stage 2 Innovations strives to make a substantial impact on such companies by broadening eligibility for the fund.

To apply, visit www.stage2innovations.com.