TiEcon 2014 Announces Labcyte as a Winner of its TiE50 Award

The TiE50 awards program recognizes the 50 hottest technology start-ups globally

May 14, 2014
Sunnyvale, CA
Sunnyvale, Calif.─May 28, 2014─Labcyte Inc., the company that is revolutionizing life science research with the Echo® acoustic liquid handler, is pleased to announce that it has been selected as a Winner for the prestigious 2014 TiE50 Awards Program. Returning for the sixth year in a row, this year’s TiE50 was open to all technology companies worldwide.

“Receiving a TiE50 Award from a group of incredible entrepreneurs focused on driving advances in technology is a real honor,” said Mark Fischer-Colbrie, president and CEO of Labcyte Inc. “It is a reflection of Labcyte’s truly novel ability to use sound energy to transfer liquids with exquisite precision and control. Transferring liquids in increments of billionths of a liter with no pipettes solves a myriad of issues generated by traditional liquid handling techniques. As a result, it enables the discovery of new drugs, better diagnostic results and precision medicine. The Labcyte team has done an amazing job creating a system that can be used in hundreds of life science applications.”

“In the six short years since inception, the TiE 50 program has become a global brand that attracts thousands of companies worldwide for this recognition,” said Venktesh Shukla, president of TiE, Silicon Valley. “It is unique in terms of rigor of selection and the broad scope of companies that it reviews for this award and is one of TiE Silicon Valley’s most successful programs. It is also worth mentioning that this is the only awards recognition in technology to be held by a large global non-profit organization.”

To determine the winner, a panel of experts screened the companies and created a list of the “2014 TiE50 Top Startups.” This list was reviewed further by a screening committee of deep domain experts. About 100 of the best of the breed companies were selected to the elite TiE50 Finalist pool. Finally, this pool of TiE50 Finalists were judged by a panel of highly accomplished team made up of serial entrepreneurs, venture capitalists, angel investors, CEOs and well-rounded technology experts, to determine the winners. Companies were evaluated on three parameters: Business Model, IP Value and Leadership team.

“This year the TiE50 Awards Program screened more than 2800 companies from 27 countries. The finalist pool is represented by early through late stage companies. A star attraction of the conference is TiE50 Finalist and Winner presentations. Audiences are treated to great ideas and amazing technologies,” said Ram K. Reddy, the program chair.

The TiE50 track record since its inception in May 2009 shows that 94% of the winners and finalists have been funded, attracting Billions in investments. Many of these companies have been acquired, merged or gone public.

About Labcyte Inc.
Labcyte, a global biotechnology company headquartered in Sunnyvale, California, is revolutionizing liquid handling. Echo liquid handling systems use sound to precisely transfer liquids without contact, eliminating the use of pipettes. Labcyte instruments are used worldwide throughout the pharmaceutical industry, as well as by biotechnology firms, contract research organizations, and academic institutions. Our customers work across a wide spectrum of scientific research, including drug discovery, genomics, proteomics, diagnostics, precision medicine, and imaging mass spectrometry. Labcyte has 53 US and multiple international patents issued, along with additional patent applications. For more information, visit www.labcyte.com.

About TiEcon:
TiEcon is the world’s largest conference for entrepreneurs and intrapreneurs with loyal participation from top technology companies, leading venture capital firms, and global service providers. TiEcon 2012 attracted 3,000+ attendees from across the world – including CEOs of established companies to first-time entrepreneurs creating new companies, to leading investment professionals and corporate executives. TiEcon was listed by Worth Magazine in their September 2011 issue to be among the 10 Best Conferences for Ideas and Entrepreneurship along with TED and the World Economic Forum. For more information on TiEcon, visit www.labcyte.com.

About TiE:
TiE is a global not-for-profit organization fostering entrepreneurship through mentoring, education, and networking. We consider entrepreneurship to be the single most powerful instrument to advance global prosperity. Our greatest strength is our network of over 60 chapters in 17 countries with a worldwide membership exceeding 14,000 that includes successful entrepreneurs, venture capitalists, corporate executives, and aspiring entrepreneurs. For more information on TiE, visit www.tie.org.