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2008
February
Pravesh Asthana joins the CrossRate
team.
2007
May
CrossRate begins work with the University
of Maine to develop an integrated GPS/eLoran receiver development platform for
the Federal Aviation Administration.
July
Zachariah Conover is appointed to the
International Loran Association Board of Directors.
September
CrossRate partners with Enercon for
development and production.
October
CrossRate presents two papers at the
International Loran Association Conference. One on the commercial potential of
integrated eLoran/GPS receivers and a second on the development platform
developed in conjunction with the University of Maine.
CrossRate presents a paper on the
eLoran/GPS development platform at the Royal Institute of Navigation conference
in London.
CrossRate closes on a round of financing
which includes support from the Small Enterprise Growth Fund, the Maine
Technology Institute, the Finance Authority of Maine, and several angel
investors.
Joseph Bauman joins the CrossRate
team.
November
CrossRate graduates from the Maine Center
for Enterprise Development.
Basavaraj Hiremath joins the CrossRate
team.
2006
January
Neelima Nagatu, an engineer, joins the
company.
February
Maine Aerospace joins CrossRate to
work on the integration of the GPS and eLoran information.
March
CrossRate is accepted into the H-1B
Technical Skills
Training Program. This program provides federal
reimbursement to train employees in technical skills.
August
CrossRate completes its Development
Award and
demonstrates its proof-of-concept prototype receiver
to the Maine Technology Institute.
October
CrossRate receives its second
Development
Award ($397k) from the Maine Technology Institute to fund primary
market research, product development, product testing.
CrossRate presents a white paper on eLoran markets and
commercialization to the International Loran Association.
CrossRate relocates to the University of Southern
Maine Portland Campus with the Maine Center for
Enterprise Development.
2005
January
CrossRate receives its first Seed
Grant ($10k) from the
Maine Technology Institute to conduct secondary market research with
the Transformative Knowledge Group.
February
Mike Leathem comes on full time.
June
CrossRate receives its first
Development Award ($160k)
from the Maine Technology Institute to fund a proof of
concept prototype.
July
Narendra Bansal, an engineer, joins
the company.
October
Rohit Parakh, an engineer, joins the
company.
November
CrossRate receives its second Seed
Grant ($6k) to hire
a law student intern to conduct an intellectual property
landscape review and analysis.
2004
January
CrossRate began as a project for
President/CEO
Zach Conover while he was completing the Executive
MBA program at Drexel University in Philadelphia.
May
The business plan placed third in
Drexel University ’s
business plan competition and Zach was offered space
in the Laurence A. Baiada Center for Entrepreneurship
in Technology to start his company. Zach accepted the
offer and CrossRate operated in the Drexel incubator
from June 2004 until November 2004.
July
CrossRate forms as a Maine Limited
Liability Corporation. Mike Leathem and Henry
“Todd” Atkins begin working
part-time on CrossRate.
November
Mark Loschiavo joins CrossRate as its
founding
Board Member.
December
CrossRate Technology relocates to Maine in December 2004 and takes up
residency in the Maine Center for Enterprise Development.
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