Monday, August 31, 2015

National Entrepreneur Center Releases Economic Impact Report

August 13, 2015
News Release
For Immediate Release
National Entrepreneur Center Releases Economic Impact Report
Report Praises Center as a Best Practice for Economic Development
(Orlando, FL) — The National Entrepreneur Center (NEC) released today the findings of its latest economic impact study, which indicated a return on investment (ROI) of $14.00 for every dollar invested in the NEC since 2003.  Austin-based Angelou Economics (AE) - an economic research and analysis firm which works with public and private sector clients both domestically and internationally - conducted the study to measure the economic impact of the NEC the local and state economies.
“We chose Angelou Economics because of their experience in the field, and their reputation for thoroughness,” said Jerry Ross, Executive Director of the NEC.  “We can point to many success stories over our last 12 years, however, we needed help to statistically evaluate the overall economic impact to the Central Florida region and the State of Florida,” said Ross.
The study evaluated five economic impact areas of the NEC: 1) perceived value to entrepreneurs; 2) value provided to the resident resource partners; 3) increased mall revenues; 4) ongoing operations and 5) capital infrastructure investment.  The study also calculated impacts derived from indirect and induced economic effects of the NEC.  The review consisted of on-site interviews, the NEC's historical performance, public data from a variety of sources, and the application of economic modeling software.
“We have always known that the NEC does a great job, and now we have the statistics to prove it,” says Marianne Amato, Regions Bank Executive and NEC Board Chair.
According to the Angelou Economics Report, the NEC’s impact to Florida since 2003 incudes:
  • $187.6 million in total economic output
  • $58.4 million generated in labor income
  • 1,000 jobs created or sustained
  • $77.3 million in revenues for Florida retailers
  • $8.6 million in state and local tax revenues
"Supporting entrepreneurs through innovative training and providing access to resources is vital," said Orange County Mayor Teresa Jacobs. "Particularly for a thriving region like Central Florida, where our economy has benefited by $14 for every single dollar invested in the NEC, the return on investment is clear."
The NEC operates as public/private partnership and is funded by local sponsors, which includes: Orange County Government, the City of Orlando, UCF, and Walt Disney World. According to the report, “the NEC has proven to be a successful model, transcending beyond Orlando and even the state of Florida. This is made evident from the fact that the NEC has hosted visitors from throughout the U.S. that have taken an interest in duplicating the NEC’s model.”
“The National Entrepreneur Center has attracted national and international attention because it works!” explains Dr. Tom O’Neal, NEC board member and Associate Vice President for UCF’s Office of Research and Commercialization, which acts as the fiscal agent for the NEC. “This report just confirms that the National Entrepreneur Center is where business happens in Central Florida,” remarked Dr. O’Neal.
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About the National Entrepreneur Center
Founded in 2003, the National Entrepreneur Center (NEC) operates as a public/private partnership catalyzing entrepreneurial growth in Orlando, the state of Florida, and across the nation. The NEC is home to a variety of independent, non-profit organizations offering free business coaching, low-cost training and resources designed to accelerate the growth and development of small businesses. In addition to creating a nationally recognized business development model, NEC resource partners have collectively coached and trained more than 150,000 business people, and facilitated more than $150 million in small business loans since its inception in 2003. For more information, visit http://www.nationalec.org. 
About UCF:
The University of Central Florida (UCF), the nation's second-largest university with more than 60,000 students, has grown in size, quality, diversity and reputation, and today the university offers more than 200 degree programs at its main campus in Orlando and more than a dozen other locations. Known as "America's Leading Partnership University®", UCF is an economic engine attracting and supporting industries vital to the region's success now and into the future. For more information, visit http://today.ucf.edu.

Thursday, August 6, 2015

LPTH Press Release: LightPath Technologies Announces Preliminary Fourth Quarter Financial Results for Fiscal 2015

LightPath Technologies Announces Preliminary Fourth Quarter Financial Results for Fiscal 2015

Fourth Quarter Revenue Growth Expected to be Within the Range of 38% to 45%*


For Immediate Release:

ORLANDO, FL – August 6, 2015 -- LightPath Technologies, Inc. (“LightPath,” the “Company” or “we”) (NASDAQ: LPTH), a leading vertically integrated global manufacturer,distributor and integrator of proprietary optical and infrared components and high-level assemblies, today announced preliminary financial results for the fiscal 2015 fourth quarter ended June 30, 2015, and the scheduling of a conference call and simultaneous webcast onSeptember 3, 2015 to discuss the Company’s financial and operational results for such period.

Preliminary Financial Results for Fourth Quarter of Fiscal 2015:
  • The Company expects to report revenue in the range of $4.3 million to $4.5 million for the fourth quarter of fiscal 2015, an increase of between 38% and 45%, as compared to the fourth quarter of fiscal 2014.
  • Cash on hand as of June 30, 2015 was approximately $1.64 million, an increase of nearly 37% as compared to $1.20 million on June 30, 2014, and an increase of nearly 55% as compared to approximately $1.06 million on March 31, 2015.
  • Backlog scheduled to ship within the next 12 months was approximately $6.49 million as of June 30, 2015, an increase of approximately 53%, as compared to June 30, 2014. 
Jim Gaynor, President and Chief Executive Officer of LightPath, stated, “As indicated by these preliminary results, we had an excellent fiscal 2015 fourth quarter.  This performance improved upon a very good third quarter and reflects the actions taken in the first half of fiscal 2015 to accelerate sales and improve our operating efficiency.  Momentum in bookings earlier in the year has continued to accelerate in the fourth quarter, which bodes well for revenue growth in future periods.  Order bookings continued to improve from the third quarter with particular strength in our specialty products and infrared product groups.  Bookings for the fourth quarter of fiscal 2015 were approximately $4.6 million, an increase of 63% as compared to the same quarter in fiscal 2014.  Driven by the growth in our backlog during the course of the fiscal year, revenue for the fourth quarter of fiscal 2015 increased significantly as compared to the prior year.  It is important to note that during the fourth quarter not only did we benefit from enhancements to our sales programs and strategic growth initiatives announced earlier in the year, but our performance was further bolstered by several project-specific opportunities totaling approximately $400,000.  While the confluence of these factors led to a very strong fourth quarter, we expect continued growth at a more normalized pace which is both faster than the market and at a rate that exceeds the increase of nearly 15% which is expected for fiscal 2015.”

Gaynor continued, “Despite the effects of the weaker economy in China that impacted a part of our low cost molded optics business, our global diversification strategies have enabled us to overcome certain challenging macroeconomic forces and resulted in revenue growth and increased shipments across all other business segments and major markets.”

Investor Conference Call and Webcast Details:

Date: Thursday, September 3, 2015
Time: 4:30 PM (ET)
Dial-in Number: 1-800-860-2442  
International Dial-in Number: 1-412-858-4600 
Webcast: http://services.choruscall.com/links/lpth150903

Participants are recommended to dial-in or log-on approximately 10 minutes prior to the start of the event. A replay of the call will be available approximately one hour after completion through September 18, 2015. To listen to the replay, dial 1-877-344-7529 (domestic) or 1-412-317-0088 (international), and enter conference ID # 10070696.

*The financial results reported herein are unaudited and subject to change.

About LightPath Technologies
LightPath Technologies, Inc. (NASDAQ: LPTH) provides optics and photonics solutions for the industrial, defense, telecommunications, testing and measurement, and medical industries. LightPath designs, manufactures, and distributes optical and infrared components including molded glass aspheric lenses and assemblies, infrared lenses and thermal imaging assemblies, fused fiber collimators, and gradient index GRADIUM® lenses. LightPath also offers custom optical assemblies, including full engineering design support.  For more information, visitwww.lightpath.com.

This news release includes statements that constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding our ability to expand our presence in certain markets, future sales growth, continuing reductions in cash usage and implementation of new distribution channels.  This information may involve risks and uncertainties that could cause actual results to differ materially from such forward-looking statements.  Factors that could cause or contribute to such differences include, but are not limited to, factors detailed by LightPath Technologies, Inc. in its public filings with the Securities and Exchange Commission.  Except as required under the federal securities laws and the rules and regulations of the Securities and Exchange Commission, we do not have any intention or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise. 
     
Contacts:
Jim Gaynor, President & CEO                            Dorothy Cipolla, CFO                      Jordan Darrow
LightPath Technologies, Inc.                             LightPath Technologies, Inc.         Darrow Associates, Inc.

TOMORROW! Seminar: “Tutorial on aspheric optics” by Dr. Ulrike Fuchs 8.7.15/12:00-1:00pm/ CREOL RM 103

Seminar: “Tutorial on aspheric optics” by Dr. Ulrike Fuchs
Friday, August 7, 2015 12:00 PM to 1:00 PM
CREOL Room 103

“Tutorial on aspheric optics”
Dr. Ulrike Fuchs
Head of Applications at asphericon GmbH

Celebrating the International Year of Light 2015

Abstract:
Aspheres are becoming more and more popular in optical design of lens systems. This trend is caused by the demand to reduce size and
weight or even novel optical performance, which cannot be obtained with spherical designs only. This demand lead to innovative manufacturing
processes for serial production of aspheric surfaces of high quality. However, due to the type of surface form deviation introduced
by CNC based grinding and polishing processes, tolerancing an optical system with aspheric surfaces becomes very challenging.
Especially for serial production one should avoid over-specification since this is a critical price booster. This talk will discuss how aspheres can be
employed meaningful in optical design and how tolerances have to be determined with. Special attention will be paid to surface form
deviation and slope errors, which are unique to aspheric surfaces.

Biography:
Ulrike Fuchs studied physics at the Friedrich-Schiller University in Jena, majoring in optics in 2004.
Her diploma thesis addressed ultrashort pulse propagation in complex optical system and optical design.
Subsequently, she pursued her PhD in physics with a scholarship of the German National Academic Foundation at Fraunhofer IOF in Jena and received her doctor‘s degree in 2009.
Postdoctoral, Ulrike Fuchs worked as research associate at Fraunhofer IOF at the micro-optical department and as assistant lecturer at the Abbe School of Photonics.
In 2010 she joined asphericon as optical designer and became head of department in 2012. Ulrikes current position includes all research
and development activities as well as optical design with respect to the available manufacturing processes and vice versa.

Contact:
Sabrina Matthias

Monday, August 3, 2015

SPIE Student Chapter Faculty Talk Series: "The Modern World – We Owe It To Physics" by Dr. Michael Bass 8.21.15/1:30-2:30 pm/ CREOL RM 102/103

SPIE Student Chapter Faculty Talk Series: "The Modern World – We Owe It To Physics" by Dr. Michael Bass
Friday, August 21, 2015 1:30 PM to 2:30 PM
CREOL Room 102/103

Celebrating the International Year of Light 2015

 http://www.creol.ucf.edu/NewsEvents/Attachments/Events/1064/bass.jpg
Michael Bass
Emeritus Professor, CREOL the College of Optics and Photonics

Abstract:
In the 1990’s, together with a colleague from the Philosophy department and having read James Burke’s book “Connections”, we put together an honors college course called “The Culture of Science”. That course was very successful.  I gave a shortened version of it as a lunchtime series at CREOL, and it morphed into the course I now give at CREOL called the “History of Science”.  It seems some other department has dibs on the word ‘culture’.  As the course evolved, as do all things, I realized that physics was responsible for the modern world in ways that are only obvious when someone explains the connections. I will try to do that in this talk.

Biography:
Michael Bass received his PhD in Physics from the University of Michigan and is Professor Emeritus of Optics at UCF. His current research interests are in modeling high power optically pumped, solid-state lasers, thermal management of high power diode laser pump sources, the use of volume Bragg gratings in solid state laser resonators, and novel, all optical two and three dimensional displays. Dr. Bass is a Fellow of both the Optical Society of America and the IEEE.

For additional information: 
Md Javed Rouf Talukder

Tuesday, July 28, 2015

UCF Awarded Department of Energy Grant to Inspire Collegiate Clean Energy Entrepreneurs and Accelerate Cleantech Innovation in the United States

To:  Florida Photonics Cluster members
A news announcement from one of our FPC members and great supporters that may be of interest to you and/or some of your colleagues.

Jim Pearson, FPC Executive Director


Good afternoon!
The University of Central Florida (UCF) has been awarded a grant from the Department of Energy (DoE) to help inspire the next generation of clean energy entrepreneurs. UCF will serve as one of eight regional Cleantech University Prize (Cleantech UP) competition sites and will facilitate a yearly collegiate challenge and cultivate an ecosystem to support clean energy entrepreneurs from Florida and across the Southeast United States. Additional funding details and program activities are anticipated to be announced soon. Please see the full press release below. Thank you and please contact me with any questions.
Best Regards,
Christa Santos


407-882-1576
July 27, 2015

News Release  
                                                                                          
For Immediate Release

UCF Awarded Department of Energy Grant to Inspire Collegiate Clean Energy Entrepreneurs and Accelerate Cleantech Innovation in the United States
University to serve as one of eight regional sites to support the Cleantech University Prize, a new DoE initiative
designed to cultivate an ecosystem of cleantech innovation and commercialization

(ORLANDO, FL) –The Central Florida region is on its way to becoming one of the country’s premier areas for the development of innovative clean energy technologies and solutions, due to the efforts of the University of Central Florida (UCF), with support from the U.S. Department of Energy (DoE).  UCF recently has been awarded a grant from the DoE to help inspire the next generation of clean energy entrepreneurs and cultivate an ecosystem of innovation and commercialization in the region.

Through the recently launched Cleantech University Prize (Cleantech UP), a new DoE-supported initiative to accelerate the rate of clean energy innovation in the nation, UCF will serve as one of eight regional Cleantech UP competition sites and will facilitate a yearly collegiate challenge and cultivate an ecosystem to support the clean energy entrepreneurs from Florida and the entire Southeast United States.  Additional funding details and program activities are anticipated to be announced soon.  

“We are excited to be selected by the DoE to serve in a leadership role in driving clean energy innovation,” said Thomas O’Neal, PhD, associate vice president at UCF’s Office of Research and Commercialization.  “Cleantech UP is an exciting new effort that will allow us to continue the momentum in building a clean energy infrastructure within the region and inspiring students in this field.”

The UCF Office of Research and Commercialization (UCF ORC) has extensive experience coordinating cleantech-oriented programs and competitions and cultivating appropriate support networks and infrastructure. In addition, the university features a history of implementing high impact, entrepreneurially focused curricula.   Most recently, UCF worked closely with the DoE on implementing two cleantech focused efforts –an annual cleantech accelerator which was designed to identify and support promising cleantech technologies throughout the Southeast, and the Florida Cleantech Acceleration Network (FL-CAN), which created a statewide support network and “proof of concept” center for cleantech entrepreneurs.  These programs served more than 200 ventures that went on to raise more than $5M in follow-on funding on their paths to commercialization.

As a result of the success of these previous programs and its reputation within the regional cleantech community, UCF will soon launch its Cleantech UP effort, explained Jack Henkel, assistant director of the Venture Accelerator Lab within the (UCF ORC).

“Our annual collegiate clean energy competition through Cleantech UP will be branded Megawatt Ventures,” said Henkel, who is helping to coordinate the program.  “We’re going to draw upon our experiences and the best practices that we established with our previous efforts to successfully encourage student-led ventures to develop renewable energy and energy efficiency related technologies, to compete in this annual competition.”

Each year, the Megawatt Ventures competition will recruit ten collegiate teams from throughout the Southeast to compete for $50K in seed funding and an opportunity to advance to a national competition and earn additional funding. UCF will utilize its network of established relationships to promote the Challenge, gather industry and technology specific mentors and expand the network further to attract the most talented teams in the region.
Through their participation in the program, the teams will be provided educational and training materials to help commercialize their technology with a focus on startup and growth strategies for new energy ventures. Teams will receive personalized strategic business coaching, introductions to potential customers and partners, investment pitch guidance and technology transfer support services.

“A key aspect of Megawatt Ventures is its focus us on bringing together investors, experienced entrepreneurs, faculty-researchers, students, regional incubation programs and industry partners,” said Dr. O’Neal. “This aggregation of relevant stakeholders, combined with the seed funding opportunities, will increase the likelihood of success for the companies, and will create a sustainable support infrastructure for participants that will extend beyond the competition.”

UCF will work with the national Cleantech UP Hub, Spark Clean Energy, as well as the seven other regional Cleantech UP Collegiate Competitions hosted by the California Institute of Technology, Carnegie Mellon University, Clean Energy Trust, Massachusetts Institute of Technology, Rice University, Rutgers and the University of California-Berkeley.
For additional information please contact Jack Henkel, MegaWatt Ventures coordinator atjack@ucf.edu or by phone 407-882-0663.

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About the UCF Center for Innovation & Entrepreneurship:

The University of Central Florida Center for Innovation & Entrepreneurship (UCF CIE) is a university wide program consolidating and coordinating major innovation and entrepreneurship support activities with the objectives of: Education, Research and Outreach. Its goal is to leverage university and regional partnerships to create an effective entrepreneurial support infrastructure in the Central Florida Region, with a mission to promote innovation, wealth creation, and economic vitality. The UCF CIE programs include:  Florida Small Business Development Center at UCF, GrowFL, UCF’s Business Incubation Program, Center for Entrepreneurial Leadership, Innovation Corps (I-Corps), Office of Technology Transfer, and the Venture Accelerator Lab.  Connect at cie.ucf.edu.

Monday, July 13, 2015

Seminar: "Threshold Power and Fiber Degradation Induced MI in High Power Fiber Amplifiers Based on LMA Fiber" by Nathan Kurz 7.24.15/1:00-2:00pm/ CREOL RM 103

Seminar: "Threshold Power and Fiber Degradation Induced MI in High Power Fiber Amplifiers Based on LMA Fiber" by Nathan Kurz
Friday, July 24, 2015 1:00 PM to 2:00 PM
CREOL Room 103

Celebrating the International Year of Light 2015

Nathan Kurz
Lockheed Martin Laser Systems

Abstract: 
We report on two types of modal instabilities (MI) observed in high power Yb amplifiers based on Large Mode Area Fibers. The first MI is observed as a decrease in beam quality or reduced core light output as higher order modes leak into the fiber cladding.  The second type of MI is observed for certain cases where the fiber initially operates without any sign of MI but then degrades over an extended operating time. Experiments on degraded fiber show a wavelength dependent permanent change in the degraded fiber with a memory of the original operating wavelength.

Biography:   
Nathan Kurz received his PhD in 2010 from University of Washington working with laser-cooled trapped barium ions for quantum computation, followed by a post doc working on a high precision electric dipole moment search in atomic mercury.  He has been working at Lockheed Martin for three years in support of high power programs specifically focusing on improving the overall efficiency and robustness of fiber lasers for a fieldable beam-combined system.

For additional information:
Dr. Kenneth Schepler
Research Professor

Thursday, July 9, 2015

LPTH Press Release: LightPath Technologies Announces Major Growth for its Custom Designed Specialty Products

LightPath Technologies Announces Major Growth for its Custom Designed Specialty Products


Specialty Products group sales has more than doubled from prior year driven by demand for merchandise used in medical applications for laser cataract removal and other applications

For Immediate Release:

ORLANDO, FL – July 9, 2015 --LightPath Technologies, Inc. (NASDAQ: LPTH) (“LightPath,” the “Company” or “we”), a leading vertically integrated global manufacturerdistributor and integrator of proprietary optical and infrared componentsand high-level optical sub-systems, announced today that it has experienced significant growth as a result of  orders with several original equipment manufacturers to produce high volume custom designed optical lens products.  This recurring value added business has contributed to the growth of the Company’s Specialty Products segment which in 2015 has more than doubled in sales as compared to the same period in 2014.  The segment now accounts for more than $2.9 million in annual revenue. 

The three primary product segments for LightPath include Custom Design Specialty Products, Aspheric Molded Lenses and Infrared.  The growth of the Specialty Products group highlights LightPath’s capabilities, technical expertise and the positive effect of the change in sales strategy announced in February of this year. Sales of optical sub systems, mounted lenses, optical arrays, Gradium lenses and Fiber Delivery Systems, which comprise this segment, has grown 161% in annualized revenues for LightPath.

Jim Gaynor, President and Chief Executive Officer of LightPath, commented, “Due to the continued efforts to improve our sales strategy, ongoing product innovation and value added to our customers we are seeing the results of these energies in obtaining an increased number of orders with major defense, medical, scientific, laser tools and measurement system partners around the world.  Our total addressable markets have been expanding and new opportunities are being created for continued incremental growth.”

LightPath has been selected as the OEM optics design and manufacture partner for increasingly complex and challenging technical product developments and projects.  Offering a talented team of experienced optical designers and engineers, LightPath is able to provide lens design, prototyping, testing and precision lens manufacturing services of the highest quality and excellent value.  Smaller sized lenses are increasingly being sought after for confocal microscopy, flow cytometry, DNA sequencing, and medical imaging applications.  Based on research published in the Laser Focus World market report in April 2015, products developed for the medical industry alone have resulted in markedly increased demand for optical product technologies, which are available from LightPath from its operations in the United States and China.

LightPath continues to develop improved capabilities for its product line that will cover most requirements in the commercial and military high-volume and small-size application markets.  LightPath is working closely with customer partners to develop both build-to-print and custom optics for new markets.  Product descriptions and other information on these products can be found at www.lightpath.com (click here).

About LightPath Technologies:

LightPath Technologies, Inc. (NASDAQ: LPTH) provides optics and photonics solutions for the industrial, defense, telecommunications, testing and measurement, and medical industries. LightPath designs, manufactures, and distributes optical and infrared components including molded glass aspheric lenses and assemblies, infrared lenses and thermal imaging assemblies, fused fiber collimators, and gradient index GRADIUM® lenses. LightPath also offers custom optical sub-systems, including full engineering design support.  For more information, visit www.lightpath.com.


This news release includes statements that constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding our ability to expand our presence in certain markets, future sales growth, continuing reductions in cash usage and implementation of new distribution channels. This information may involve risks and uncertainties that could cause actual results to differ materially from such forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, factors detailed by LightPath Technologies, Inc. in its public filings with the Securities and Exchange Commission. Except as required under the federal securities laws and the rules and regulations of the Securities and Exchange Commission, we do not have any intention or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

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