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2005 News Archive
December, 2005 - Gary Durack, iCyt Founder, Receives Inaugural Entrepreneurial Excellence Award at Innovation Celebration
In a ceremony on December 8, 2005 , attended by local business leaders, University of Illinois luminaries, and economic development officials, Gary Durack received the inaugural Entrepreneurial Excellence Award . Dubbed the Innovation Celebration, and sponsored by the Illini Entrepreneurship Center , the event was a resounding success despite near blizzard conditions that developed earlier in the day.
According to Mr. Anthony DeLio, the event’s emcee, “ Gary is being recognized as an individual who exemplifies a true entrepreneur in our community. He has led iCyt in developing and commercializing true technological innovation in high-speed cell sorting technology, achieving every technical and financial milestone along the way. Gary ’s steadfast vision has led to the creation of a new technology company that has grown to over 40 employees and revenues exceeding $5 million in 2005. In addition, Gary and iCyt have generously devoted their time and talent to assist other entrepreneurs and helping Champaign-Urbana to become a highly attractive technology center.”
The Entrepreneurial Excellence Award recognizes those who have successfully started a new business or enterprise in the past five years and who have best demonstrated the unique entrepreneurial skills of opportunity recognition, innovation, risk taking, perseverance, financial acumen and leadership, and serving as role models for others in the community.
The Illini-Entreprenuership Center Network was founded in July 2003 by the Illinois Department of Commerce and Economic Opportunity. It serves as a catalyst for high-growth potential small- and medium- sized business enterprises to develop into economically viable and sustainable companies that will grow and create jobs in Illinois. The Illini-Entrepreneurship Center Network is one of several Entrepreneurship Center Networks that have opened across the state of Illinois.
November, 2005 - Largest TechMix Gathering of the Year Hosted by iCyt
iCyt, in partnership with the Economic Development Corporation and Fox Development Corporation, sponsored the first techMix event in the Research Park at the University of Illinois. This event was the most well attended techMix event of 2005, showcasing the newly opened iCyt Building. With over 300 attendees, the event allowed people to tour the new iCyt office space, as well as network with other business leaders in the Research Park and greater community.
July, 2005 - iCyt Hires Fredrick Molnar as Chief Sales, Marketing and Service Officer
The executive team of iCyt welcomes Fredrick Molnar as the Chief Sales, Marketing and Service Officer. Fred comes to iCyt after 17 years with Coulter and Beckman Coulter. There he was Director, North American Commercial Operations – Flow Cytometry. Responsible for $75 million in annual revenue, he successfully led a 47-person sales and support team to five straight years of growth and record profits.
Gary Durack, Founder and Chief Technology Officer, commented, “Fred is a perfect complement to our existing leadership team, bringing to iCyt years of seasoned sales and marketing experience in the cytometry field. Fred shares the values and vision of iCyt, and that is as important to us as the wealth of talent he has.”
“Fred and I worked together on several customer opportunities, when he was at Beckman Coulter,” stated Tim Hoerr, CEO of iCyt. “I was impressed with his passion for excellence and his laser-focused attention on the customer. That’s the type of person that should be working at iCyt, I thought to myself. So, we made it happen!”
Fred has worked in the flow cytometry industry for over 20 years, with a tremendous track record of success. He also founded and served as President and CEO of Champion Gymnastics Inc, a very successful athlete training center located in Ann Arbor , Michigan.
May, 2005 - iCyt Relocates to “The iCyt Building ”
iCyt Visionary Bioscience and iCyt Mission Technology recently relocated into a spacious new facility at the University of Illinois Research Park, in Champaign-Urbana , Illinois. The Research Park ’s newest facility is a striking combination of lab, office and manufacturing space, boasting over 45,000 square feet and situated in serene surroundings.
“We’re excited about this milestone in iCyt’s history,” said Tim Hoerr, Chief Executive Officer of the iCyt entities. “In 2001, iCyt was located in 800 square feet at the original incubator of the University of Illinois, the Technology Commercialization Lab. Now we occupy 12,000 square feet in the newest facility in the Park and enjoy partial ownership of the building.”
Professional offices, laboratories and manufacturing space have all been expanded with this most recent move. The new facility will facilitate iCyt’s continuing future expansion, as it intends to take more space over a 12 to 18 month period of time.
“iCyt has been a strong tenant of the Research Park for several years and is a terrific example of the entrepreneurial spirit,” enthused Peter Fox, lead developer of the Research Park. “We look forward to partnering with them in the next phase of their growth.”
January, 2005 - iCyt Announces Creation of Optica Software Division
iCyt Mission Technology has brought a new operating division under its wing. The Optica Software Division, featuring a family of optical modeling software products, is now part of the iCyt companies. The lead developer of the Optica products, Donald Barnhart, Ph.D., has become an employee of iCyt and leads this division.
Rayica™, Wavica™ and LensLab™ are a trio of optical modeling software, providing state-of-the-art tools to anyone performing optical design. The products represent the evolution of over 10 years of development, maturing through the experience and feedback of thousands of users.
“I am pleased to bring the Optica family of products to iCyt, so that their rich legacy of development can continue at an even more robust level,” said Donald Barnhart. “iCyt offers unparalleled resources and depth so necessary to develop, sell and support these fine products.”
With a who’s-who customer list that includes 3M, Intel, NASA, Litton Laser Systems, Northrop Grumman and Sandia National Labs, the Optica products are used worldwide by physicists, optical engineers and scientists that are pushing the envelope in many arenas.
See www.opticasoftware.com for more information.
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