Slater Technology Fund Honored as “Innovation Champion” by Providence Business News and Rhode Island Economic Development Corporation

Providence, R.I., September 18, 2006 – Slater Technology Fund today announced that it has been selected as the “Innovation Champion” for the first Rhode Island Innovation Awards, sponsored by the Providence Business News and Rhode Island Economic Development Corporation (RIEDC). Slater was honored at a luncheon on September 14, 2006, and included in a special issue of Providence Business News published on September 11th.

The Rhode Island Innovation Awards recognize innovation as the hallmark of the world’s most successful companies, whether exhibited through unusual products, groundbreaking services or dynamic leadership. The Innovation Champion category recognizes a Rhode Island organization that through the course of its business enables and encourages others to innovate. Slater was chosen because of its sustained efforts to develop an innovation-based economy in Rhode Island by supporting emerging companies in the biomedical technology, information technology/communications, and marine, environmental and energy sectors.

“Slater is honored to be recognized by the Providence Business News and RIEDC for this prestigious award,” said Richard G. Horan, senior managing director of the Slater Technology Fund. “Slater is dedicated to supporting the spirit of invention and innovation that is the key to the state’s economic future. By providing seed stage capital to entrepreneurs committed to building technology-based companies in Rhode Island, we strive to ensure that innovative concepts translate into successful business ventures.”

About Slater Technology Fund
The Slater Technology Fund supports the development of emerging industries with potential for significant long-term growth within the State of Rhode Island. Slater focuses its resources on the support of entrepreneurs who have the vision, leadership and commitment to build substantial commercial enterprises. Slater typically invests at the inception stage in the development of a new venture, often based upon ideas and technologies originating in academic institutions and/or government research laboratories located within the region. In most cases, investments are premised upon the possibility of raising substantial follow-on financing, from venture capital investors or from strategic partners, with a view toward accelerating the generation of significant numbers of high-value, high-wage jobs over the intermediate to longer-term.

For More Information
Laura Nelson
SVM Public Relations
401-490-9700
laura.nelson@svmpr.com