ALISO VIEJO, CA--(Marketwired - Sep 26, 2016) - OCTANe, Orange County's life sciences and technology accelerator organization, today announced that it will merge with Orange County Technology Alliance under the OCTANe brand, effective December 31, 2016. This strategic move will provide a broader base of services to the Orange County technology community and strengthen OCTANe's leadership position within the Orange County technology ecosystem.
The combined organization will provide Orange County-based technology companies with the ability to utilize OCTANe's vast network of advisors and investors, while also providing access to OCTANe's signature conferences and events. Additionally, the merger will provide OCTANe with access to more established companies as they work to scale and grow.
"This is a very strategic move for us that will enhance our value to the many organizations that support OCTANe," said Bill Carpou, CEO of OCTANe. "It will expand our relationships with well-established technology companies in Orange County while furthering the growth of the strong technology base that already exists here. We have a great team and I am personally thrilled to be leading OCTANe at this exciting time."
Many technology companies in Orange County have relationships with both of these organizations and this merger will only strengthen the technology ecosystem in the region.
"As a technology leader deeply invested in our local community, Microsemi has benefitted greatly from its involvement with OCTANe and OC Tech Alliance," said James J. Peterson, chairman and CEO of Microsemi Corporation and member of the OCTANe executive committee. "Combining the strengths of these two organizations provides an even more compelling reason for local companies to invest, innovate and grow here in Orange County as the region continues to thrive."
Since its launch in 2012, Orange County Tech Alliance has continued the mission of its predecessor entity, the OC Council of Tech America. Their mission is to provide recognition for Orange County technology innovation through its Annual High-Tech Innovation Awards, offer peer-to-peer education through C-Suite roundtable events, and advocate for the technology industry on public policy issues in both Sacramento and Washington, DC.
"Joining with OCTANe to deliver these activities makes great sense for the Orange County tech community," said Peter Craig, CEO of Orange County Tech Alliance. "Bringing these two great organizations together under common leadership with their depth of resources makes our community stronger and more vibrant."
Reynolds C. Bish, chairman of Orange County Tech Alliance and president of Lexmark Enterprise Software, added: "Combining these two organizations will provide more scale and relevance to our promoting technology in Orange County, and makes perfect sense for all of our constituents."
As the merger was approved by both organizations' Board of Directors, Craig and Bish will now be named to the OCTANe Board of Directors to facilitate this integration.
Since 2010, OCTANe has accelerated the formation and capital infusion of technology and medical technology companies, securing over $1.7 billion in capital through equity exits. In the process, OCTANe has helped create nearly 6,000 jobs. The combined organization plans to raise projections later as part of their OCTANe 2.0 Strategy.
The annual High Tech Awards dinner scheduled for October 6, 2016 -- and hosted by OC Tech Alliance -- will provide an opportunity for members of both organizations to meet. Once the merger is complete, OCTANe plans to grow this event in the future.
OCTANe drives technology innovation and growth by connecting ideas and people with resources and capital. Its members represent technology and medical technology executive leaders, entrepreneurs, investors, venture capitalists, academicians, and strategic advisors, all working together to fuel innovation in Southern California. The organization has helped more than 800 companies via the LaunchPad™ SBDC accelerator. LaunchPad™-certified companies have received more than $1.7 billion in investment and equity exits. OCTANe annually welcomes more than 7,000 people to its programs and events. More than 2,000 business leaders throughout the region are OCTANe members. For more information, visit www.octaneoc.org.