February 19, 2007
Identity Alliance wins Opportunity for Indiana $50,000 competitionWEST LAFAYETTE, Ind. - Identity Alliance, a Fort Wayne, Ind., security firm, will receive a special award to further develop its enterprise after winning the third annual Opportunity for Indiana $50,000 Award for Entrepreneurs sponsored by Purdue University and Lilly Endowment.
Identity Alliance was chosen from finalists from the Purdue University Life Sciences Business Plan Competition and the Opportunity for Indiana Regional Business Plan Competitions. The award will be announced at a reception on Wednesday (Feb. 21) for judges and sponsors of the 20th annual Burton D. Morgan Entrepreneurship Competition. The 7 p.m. reception will take place in the Burton D. Morgan Center for Entrepreneurship.
The company's technology provides software products, development and consulting to both the corporate and federal sectors in the area of smart cards, biometrics and identity systems. David Corcoran, partner and founder of Identity Alliance and product division TrustBearer Labs, made the presentation of the company's business plan that won the grand prize.
"Incentives such as this award have made it compelling to start companies here in Indiana," said Corcoran, a Purdue graduate who has worked on both the East and West coasts as well as in Texas. "We're competing for the same customers and employees as companies on the coasts, but the cost of doing business here is spectacular. It's much easier retaining key employees here because of the high standard of living and little competition."
Corcoran started his company in 1996, providing smartcard software that is used in Macintosh, Linux and Solaris computer operating systems. Now the company has a staff of seven people. Identity Alliance provides identity security and authentication software and product development for some of the largest companies in the world, including Sun, Apple, Xerox, RSA Security, Honeywell and others.
The company's first product, TrustBearer, was unveiled at the RSA Conference in San Francisco earlier this month, and Corcoran plans to apply for additional patents in the United States and Europe to further protect their product development.
"TrustBearer makes strong authentication simple and elegant and requires no software to install," Corcoran said. "We'll be working with the best and most well-known companies that exist, and it will all be done right here in Indiana."
The Lilly Endowment established this award to assist startup companies in Indiana. The companies were asked to submit a summary outlining the specific uses for the award and a current business plan. The business must be incorporated in the state of Indiana, and the award should be used for specific expenditures that will provide a measurable improvement to the business.
Previous award recipients were Prosolia and QuadraSpec.
"The success of previous winners is proof that these young companies have the talent to know what to do with a $50,000 award," said Alan Rebar, interim director of the Burton Morgan Center and executive director of Discovery Park. "We're able to help Indiana start and retain exciting new businesses that likely will employ highly paid knowledge workers through the enormous generosity of the Lilly Endowment."The Lilly Endowment funds for these competitions are part of a $3.5 million, three-year Opportunity for Indiana grant, which aims to provide more opportunities and good jobs for graduates of the state's colleges, universities, technical schools and high schools.
Writer: Maggie Morris, (765) 494-2432, email@example.com
Sources: Alan Rebar, (765) 496-6625, firstname.lastname@example.org
David Corcoran, (260) 399-1648, David.Corcoran@trustbearer.com
Purdue News Service: (765) 494-2096; email@example.com
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