Monday, February 11, 2008

The Pitch

File compression tech firm DataPacT looks to squeeze out funding

DataPacT Systems

Headquarters: Milford, N.H.

Employees: 6

Founded: 2007

The Pitch: DataPacT is seeking $3.5 million

E-mail: john.lai@datapactsystems.com

Phone: 603-672-8748

Pitching the technology

DataPacT reports developing a data compression engine it said compresses better than the conventional compression engines. The technology can be applied to medical image data files with little or no lost information, according to the company. DataPacT said its engine conforms to the Digital Imaging and Communications in Medicine standard. The Milford, N.H.-based company built the engine intending to solve the exponential growth in medical image data storage, and to maximize the use of bandwidth for file transmission. The company said it is building prototype data storage infrastructures for clinics in New Jersey. DataPacT plans generate revenue through a subscription-based business model.

Pitching the people

Who are the company's founders? DataPacT's parent company is LCJ Enterprises. The founders of LCJ Enterprises are John Lai, Marion Crane and Peter Jefferson.

Who is on the management team? John Lai, chief technology officer; Remi Depommier, business and marketing; Tony Stanizzi, medical marketing and sales.

Who is on the board of advisers? DataPacT's management team also comprise its board of advisers.

Pitching the business

How much money is being sought? DataPacT is seeking $3.5 million for Phase 1 and Phase 2 product development.

What partnerships, collaborations or affiliations are already in place? None.

List any federal or state grants, contracts or awards received: DataPacT won the 2007 Worcester Polytechnic Institute Venture Forum business plan contest in November 2007. The company won $15,000 in cash and services in the contest.

What's the market size being pursued? DataPacT estimates a target market of $7 billion to $10 billion.

Who are the likely competitors, direct or indirect? Medical software library development companies, picture archiving and communications systems (PACS) vendors and image acquisition original equipment manufacturers (OEMs) are DataPacT's main competition.

Is the company profitable? No.