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2015 ANNUAL REPORT GS-10F0107P to energize the transformation of technology ideas into solutions that elevate economic opportunities and make lives better for people around the world OUR MISSION Larta starts with an entrepreneurs past we help them engineer their present and we energize their future. ROHIT SHUKLA CEO AND FOUNDER LARTA INSTITUTE AND SUBSIDIARIES 1 A MESSAGE FROM OUR CEO Dear Friend of Larta Twenty-two years. A flash in the pan in historical terms. An eternity in terms of innovation. Over that period Larta has been reaching out from our base in the great big open city of outsized imaginations Los Angeles and plumbing the depths of the national and global economy to work alongside entrepreneurs and to help them realize the potential of their ideas. We guide and counsel entrepreneurs steeped in the hard sciences so-called high risk high reward ventures capable of going very far with small investments. Helping them reach commercial viability is the focus of our work. In our earliest days we were partners to the State of California in managing a seed fund for the Greater Los Angeles area and serving a network of investors entrepreneurs and their supporters in the region. Over the last decade our geographical reach has spread across the country and around the world. Weve developed a network-centric methodology that we bring to entrepreneurs to open innovators in industry to governments and to investors. We work with over 300 companies a year mining technologies in bioscience agriculture cleantech and information technology. Highlighted in these pages are a handful of exciting innovations that have the potential to enable the blind to see prevent and dissolve blood clots deflect the blows of contact sports clean waste water create dyes sustainably for textiles erect buildings using natural materials and more Telling their stories illustrates our story. In our hearts and in our work we consider ourselves the entrepreneurs entrepreneur. We start with their past we help them engineer their present and we energize their future. The innovations we support are not the stuff of wishful thinking or science fiction. They offer solutions to global problems. They fire the imagination and are grounded in science. Our Annual Report is a record of our work. It also demonstrates to ourselves first and then to you the care and attention we pay to innovation and entrepreneurship. Thank you for your interest and support. We look forward to engaging with you in 2016 and beyond Rohit Shukla Founder and CEO Larta Institute and Subsidiaries We believe in the magic and wonder of innovation that from the minds of driven entrepreneurs will emerge great ideas that we can help to energize into solutions that feed fuel and heal the world. 2 KEY PRODUCTS FOR OUR ENTREPRENEURS Soft Landing Larta hosts a select number of our over- seas portfolio companies in the U.S. for a soft landing visit. Over a few days we organize face-to-face meetings with potential partners and industry experts focused on providing the entrepreneurs with feedback on their business model pitch and advice on the market in the U.S. These entrepreneurs learn first-hand how to put their best foot forward when doing business in the U.S. FeedForward In private invitation-only sessions portfo- lio entrepreneurs pitch their 18-month stra- tegic plans to industry and domain experts drawn from a variety of disciplines they receive feedback on everything to do with their business and marketing model and practical advice on building and operating their companies. Commercialization Training Workshop CTW A one- to three-day workshop designed to prepare portfolio companies for the early steps in their acceleration journey. Our CTWs introduce entrepreneurs to commercialization milestone planning investor positioning marketing regu- latory and IP concerns and a host of other issues of importance to emerging and more advanced companies alike. 3 EXECUTIVE SUMMARY 2015 EXECUTIVE SUMMARY 191M NON-DILUTIVE FUNDING RAISED BY OUR PORTFOLIO COMPANIES 252M PRIVATE INVESTMENT RAISED BY OUR PORTFOLIO COMPANIES At its core Larta Institute has a true com- mercial focus that pervades its programs its approach to companies and its inter- action with its clients. Everything Larta touches is focused on making companies better understand the marketplace the value of their products and the commercial opportunities all of which puts companies on a pathway for success. TONY SIMPSON AGTECH ADVISORS LLC LARTA PRINCIPAL ADVISOR 4 318 COMPANIES ASSISTED 36 OVERSEAS COMPANIES ASSISTED 64 OF OUR INDUSTRY ADVISORY BOARD MEMBERS COME FROM FORTUNE 1000 FORTUNE 500 AND GLOBAL 500 COMPANIES 9 PORTFOLIO COMPANIES WON PRESTIGIOUS TIBBETTS AWARDS 3INDUSTRY SALON WEBINARS FOR LARTA PORTFOLIO COMPANIES AND ALUMNI 423 STRATEGIC INTRODUCTIONS 4ACQUISITIONS OF PORTFOLIO COMPANIESTECHNOLOGIES 5 EXECUTIVE SUMMARY Whole Trees wins Best-of-Show at Ag Innovation Showcase WholeTrees and Stony Creek Colors featured in Forbes Mango Materials featured in New York Times and Fast Company Strawberry Energy wins contract with municipality of London moves product into London. PhotoniCare wins at National Capital Consortium for Pediatric Device Innovation Avalon Biomed is top product on Dental Advisors 2015 List of Clinical Problem Solvers Strawberry Energy featured in BBC News AMP Robotics featured in Fast Company Alba-Technic LLC wins 250K as a finalist in NFL Head Health Challenge Tibbetts Small Business awards to nine Larta portfolio companies Harrisvaccines Inc. acquired by Merck Animal Health Celdara Medicals OnCyte LLC acquired by Cardio3 BioSciences Eureka Genomics acquired by Affymetrix Translational Sciences TS23 technology acquired by Daiichi-Sankyo KUDOS AND AWARDS FOR OUR PORTFOLIO COMPANIES COMPANY ANDOR TECHNOLOGY ACQUISITIONS 6 FEED FUEL AND HEAL 11 years exclusive partner for National Institutes of Health NIH SBIRSTTR program 8 years exclusive partner for U.S. Department of Agriculture USDA SBIRSTTR program 6 years partner for National Science Foundation NSF SBIRSTTR program 1st year partner for National Institutes of Standards Technology NIST SBIR program Larta hosted nine overseas portfolio companies from Romania and Malaysia for Soft Landings in the U.S. COMPANY FUNDING Schrdinger lands 120M deal with Sanofi Agrivida secures 23M in Series D funding Pulse Biosciences filed and set terms for a 20M IPO AeroFarms closes 20M investment round Granular raised 18.6M in Series B funding Blue River Technology closed a 17M Series B Benson Hill Biosystems secures 7.3M in Series A funding California Safe Soil raised 5.9M on AgFunder to finance a full-scale commercial production facility Invictus Medical raised 5M in Series A funding Ecovative Design raised 4M from existing investors and rang the NASDAQ bell SkySpecs secures 3M in Series A FAA approval for drones and signs first customers Lucigen received 2M from investors to develop the firms ClariLight molecular diagnostic platform Rohit Shukla speaks at Global Competi- tiveness Forum in Riyadh Saudi Arabia Inter-American Development Bank IADB taps Constanza Pachon for white paper on human capital for innovation ecosystem Rohit Shukla discusses the bioeconomy on guest podcast on Malaysias premier business channel BFM 89.9 with host Meera Sivasothy Larta hosts three GAIN panels focused on closed-loop systems Agtech and food Larta hosts 7th annual Ag Innovation Showcase in St. Louis MO Larta partners with GAI for first AgTech Week As Council Member Carlos Gutierrez gave one-one-one feedback to entrepreneurs from LAUNCH Green Chemistry Challenge funded by NASA and NIKE. THOUGHT LEADERSHIP CONFERENCES FORUMS AND MORE 7 GLOSSARY OF ACRONYMS CAP Commercialization Accelerator Program CTW Commercialization Training Workshop GAIN Global Ag Innovation Network IADB Inter-American Development Bank NACIE National Advisory Committee on Innovation and Entrepreneurship NIH National Institutes of Health NIST National Institute of Standards and Technology NSF National Science Foundation PA Principal Advisor RICAP Romanian Innovation Commercialization Accelerator Program SBIR Small Business Innovation Research STTR Small Business Technology Transfer USDA United States Department of Agriculture 8 COMPANY PROFILES CHAPTERS LambdaVision Inc Micronic Technologies Healthy Dining PhotoniCare Mango Materials NBD Nanotechnologies WholeTrees Architecture Structures LLC Flashnet Alba-Technic LLC Stony Creek Colors Network-Centric Model Social Impact Programs and Practices Life Science Sustainable Tech and IT Agriculture Global Bridge Appointments and Expertise Inside Larta Larta Financials A Message from the President Meet the Team The Larta Story 11 14 15 22 24 26 29 34 35 39 9 13 17 21 23 25 33 37 41 43 44 46 49 CONTENTS 9 NETWORK-CENTRIC APPLYING THE NETWORK-CENTRIC MODEL 318ONE-ON-ONE ADVISOR COMPANY RELATIONSHIPS 423STRATEGIC INTRODUCTIONS WE WERE INTRODUCED TO PEGASUS CARGILL MONSANTO AND BAYER AS PART OF THE PROCESS. NOT ONLY DID WE MAKE GREAT PROGRESS BUT WE MADE GREAT FRIENDS. KAREN SORBER CEO MICRONIC TECHNOLOGIES The core of Lartas philosophy lies in our network-centric principle connecting people to drive results grounded in reality. We understand that acceleration can result from connecting entrepreneurs to experi- enced and knowledgeable industry experts in our network. Our enthusiasm for the fruits of innovation is manifest in working closely through an ecosystem we have created and continue to cultivate. This is the heart of our network-centric approach to innovation. Larta is at the center of a hub. It includes a small effective in-house team and a network of industry partners on our Industry Advisory Board a deep bench of domain experts and advisors and a growing group of alumni. LARTAS POINT OF VIEW ON ENTREPRENEURSHIP ASSISTANCE AND INNOVATION MANAGEMENT IS ROOTED IN PRACTICAL REAL-WORLD APPLICATION. CONSTANZA PACHON PRESIDENT COO LARTA INSTITUTE AND SUBSIDIARIES 64OF OUR INDUSTRY ADVISORY BOARD MEMBERS COME FROM FORTUNE 1000 FORTUNE 500 AND GLOBAL 500 COMPANIES 10 LARTA ENTREPRENEURS INDUSTRY PROFESSIONAL MENTORS INVESTORSUNIVERSITY AND RESEARCH INSTITUTIONS GOVERNMENT SUPPORT ORGANIZATIONS OUR NETWORK-CENTRIC MODEL IS AN ECOSYSTEM FOR SUCCESS 11 COMPANY PROFILE LAMBDAVISION INC. What does LambdaVision do We are a retinal prosthesis company dev- eloping the first ever protein-based retinal implant that can restore vision for the nearly 50 million people globally who have severe end-stage retinal degenerative diseases such as age-related macular degeneration and retinitis pigmentosa. Currently there is no cure. LambdaVisions implant can change that. What sets you apart from the competition Our protein-based design offers the poten- tial for higher resolution than competing technologies and has a simpler surgical procedure. What was Lartas impact on your company I am used to wearing different hats but I had a lot to learn about running a business. Lartas program helped us think through the milestones we need to hit to commercialize. Farmington Connecticut Women-Owned Business Industry Life Sciences Healthcare Medical Devices Technology Light activated protein-based retinal implant Larta Program NSF CAP1 2015 Light activated protein-based retinal implant Nicole Wagner President CEOQA We get calls every day asking when we are starting clinical trials. No one wants to go blind. NICOLE WAGNER PRESIDENT CEO LAMBDAVISION INC. 12 180KRAISED IN 2015 FROM NSF PHASE 1 AND 1B COMPANY TO WATCH AT 2015 CONNECTICUT INNOVATION SUMMIT LARTAS NSF CAP HAS PREPARED LAMBDAVISION WELL FOR THE CRITICAL PHASE OF IN VIVO VALIDATION AND OTHER FUTURE STAGES OF DEVELOPMENT. XIAO-WEI ZHU LARTA PRINCIPAL ADVISOR 13 SOCIAL IMPACT OUR COMPANIES ARE MAKING A SOCIAL IMPACT A HUMANITARIAN TRIP TO PERU IN 2007 REVEALED THE DIRE NEED FOR CLEAN WATER. WE FOUNDED MICRONIC WITH THE HOPE OF HELPING PEOPLE IN DEVELOPING COUNTRIES REDUCE WATERBORNE ILLNESSES BY PROVIDING BETTER ACCESS TO CLEAN WATER. KAREN SORBER CEO MICRONIC TECHNOLOGIES 328TECHNOLOGIES LAUNCHED THAT FEED FUEL AND HEAL THE WORLD Social impact is a major driver in our work on commercialization. Because Lartas portfolio companies help feed fuel and heal the world they are poised to have significant social impact in their markets. However as with any portfolio some companies have a broader reach than others. They show promise in large universal markets. Their challenge is to find the best launch point in a sea of possibilities. EACH COMPANY AT LARTA HAS A FANTASTIC NEW IDEA AND IT IS A PRIVILEGE TO BE ABLE TO HELP THESE COMPANIES SUCCEED. FEREY FARIDIAN LARTA PRINCIPAL ADVISOR 1414 Wise Virginia Women-Owned Business Industry AgFood or Cleantech Technology MicroDesalTM patented water remediation and recovery Larta Program USDA CATP 2014-2015 and Ag Innovation Showcase 2015 ONE OF FOUR WINNERS OF THE GE STATOIL WATER REUSE OPEN INNOVATION CHALLENGE Q1 2016 WINNER SOUTHWEST VIRGINIA TECHNOLOGY COUNCILS HIGH TECH AWARD IN INNOVATION FEATURED IN VIRGINIA BUSINESS REVIEW What does Micronic Technologies do We take waste water and turn it into potable water in one pass without chemicals filters or membranes. Our technology MicroDesalTM is able to remove total dissolved solids suspended solids bacteria and heavy metals. The MicroDesalTM tornado for good produces microdroplets of water under low pressure and heat conditions conserving energy and reducing costs in the process. What sets you apart from the competition Globally at least 1.8 billion people use a contaminated drinking-water source and 2.2 million people die as a result of water related diseases. The U.S. wastes 69 or over a trillion gallons per day of industrial waste water without reuse. We are able to remove contaminants with a 99 efficacy rate at one-tenth the cost of distillation with no pre-treatment required. What was Lartas impact on your company We have received a lot of advice and counsel on business valuation and investor negotiations. Our advisor helped us improve the storyline and pitch integration and helped us to articulate it well. We were introduced to Pegasus Cargill Monsanto and Bayer as part of the process. When I think about the progress we made in the program and what Larta has done for us Im glad we did it. QA Karen Sorber CEO Micronic Technologies The results from the waste water Micronic has cleaned are absolutely amazing. BOB CALCATERRA LARTA PRINCIPAL ADVISOR COMPANY PROFILE MICRONIC TECHNOLOGIES PRESENTED AT AG INNOVATION SHOWCASE 15 COMPANY PROFILE HEALTHY DINING What does Healthy Dining do We provide healthful strategy on our web and mobile site HealthyDiningFinder.com to enable millions of diet- and nutrition- conscious restaurant diners as well as those dealing with diabetes high blood pressure and other conditions to easily find healthy dining choices served at restaurants coast to coast. What sets you apart from the competition We are the largest-ever restaurant industry nutrition initiative with the potential to service 150 million Americans with nutrition- related health problems. Our site is the only search engine and inspirational source of its kind providing personalized dining out recommendations validated by Healthy Dinings team of registered dietitians. Additionally it features a Kids LiveWell platform - a partner program developed by the National Restaurant Association to help parents find restaurants offering healthier fare for children. What was Lartas impact on your company Larta has helped us tremendously by pre- paring us for strategic partners and investors. We are excited about the opportunities and potential this will bring to our company. San Diego California Women-Owned Business Industry Life SciencesHealthcare IT Digital Communications Technology Mobile app and online nutrition database Larta Program NIH CAP 2014-2015 Mobile app and online nutrition database Anita Jones-Mueller Founder President Our company is passionately dedicated to contributing to a healthier America in a delicious way. ANITA JONES-MUELLER MPH FOUNDER PRESIDENT HEALTHY DINING QA 16 RESTAURANT CHAINS ARE PREPARING FOR FDA- MANDATED MENU LABELING CONSUMERS ARE READY FOR CHOICE AND HEALTHY DINING IS THE MOST QUALIFIED TO DELIVER IT. FEREY FARIDIAN LARTA PRINCIPAL ADVISOR FEATURED IN MORE MAGAZINE WOMEN WORKING WONDERS KIDS LIVEWELL PARTNERSHIP WITH NATIONAL RESTAURANT ASSOCIATION LAUNCHED SCHOOLICIOUSSM PROGRAMSMARTPHONE APP 17 PROGRAMS AND PRACTICES YOUVE DONE THE SCIENCE. NOW LETS BUILD YOUR BUSINESS. Larta Institute helps 300 or more companies a year navigate their path to commercialization. Over the years we have learned what is most crucial to a startups success and have created lean and effective Commercialization Accelerator Programs CAPs to help our portfolio companies focus on what matters most. These programs serve companies with innovations that feed fuel and heal the world. Food and agriculture life sciences and health care and sustainable tech- nologies cleantech are Lartas areas of industry expertise. We work one-on-one with entrepreneurs to explore their market offering understand their customer demand and focus on getting to market through feedback from and introductions to our network of advisors and industry professionals. We have established a dis- ciplined process to track progress and milestones focused on the goal of ensuring commercial success. 318COMPANIES ASSISTED 191MNON-DILUTIVE FUNDING RAISED BY OUR PORTFOLIO COMPANIES 4ACQUISITIONS OF PORTFOLIO COMPANIESTECHNOLOGIES 18 LARTA CUSTOMIZES THE EXPERIENCE OF COMMERCIAL- IZATION IN TUNE WITH OUR PORTFOLIO COMPANIES HISTORIES ASSETS AND NEEDS. STEP 1 BUSINESS STRATEGY Every startup needs a plan. The first thing we do is help companies develop a business strategy with defined and measurable goals. STEP 2 MEET YOUR MENTOR It helps to have a guide. Compa- nies work one-on-one with a ded- icated mentor who has expertise commercializing products in the companys industry. STEP 3 INDUSTRY FEEDBACK Larta engages our network so com- panies can connect with key indus- try executives. They have access to leading domain specialists from our network to give them feedback on areas ranging from market and competitive analysis to marketing product design funding and IP. STEP 4 COMPANY ROADMAP Entrepreneurs in our portfolio are armed with a toolkit from which to build their businesses a cus- tomized forward-looking 18-month commercialization plan with operational clarity and industry connections. PRINCIPAL ADVISOR EXPERTISE BY INDUSTRY IN 2015 6 AEROSPACE DEFENSE 15 AGFOOD 15 CLEANTECHENERGY 12 EDUCATION 13 IT 19 LIFE SCIENCESHEALTHCARE 6 LOGISTICS 14 MATERIAL SCIENCE The Larta Commercialization Training Workshop and FeedForward sessions were fabulous. I was able to interact with other researchers and entrepreneurs at the various events to learn how their companies were growing as a startup from a grant. At the FeedForward sessions I received fresh ideas and excellent advice on marketing and business development angles. CAROLYN PRIMUS PRESIDENT AVALON BIOMED INC. COMPANIES BY INDUSTRY IN 2015 2 AEROSPACE DEFENSE 22 AGFOOD 10 CLEANTECHENERGY 6 EDUCATION 14 IT 38 LIFE SCIENCESHEALTHCARE 8 MATERIAL SCIENCE 19 PROGRAMS AND PRACTICESPROGRAMS AND PRACTICES 20PROGRAMS AND PRACTICES We are very pleased to work with Larta as we celebrate the 11th anniversary of our NIH Commercialization Accelerator Program and we look forward to continuing strong in the coming years. As commercialization challenges grow Larta continues to evolve by developing and improving innovative technical assistance programs and their staff are consummate professionals operating at the highest level. MATTHEW E. PORTNOY PHD DIRECTOR DIVISION OF SPECIAL PROGRAMS NIH The USDA SBIR program strives to ensure that both Phase I and II grantees obtain exceptional leadership and mentoring opportunities as they develop a commercialization strategy. Lartas Phase I and II commercialization programs have provided USDA SBIR grantees with new opportunities that would not have been realized without Lartas knowledge and large network of industry leaders in the agriculture space. SCOTT DOCKUM SBIR PROGRAM COORDINATOR USDANIFA 22PROGRAM SPECIFIC WEBINARS 3INDUSTRY SALON WEBINARS FOR LARTA PORTFOLIO OR ALUMNI COMPANIES 77PRINCIPAL ADVISORS 23PHDS AMONG PRINCIPAL ADVISORS 21 PROGRAMS AND PRACTICES LIFE SCIENCE Our Life Science practice heals the world Lartas Life Science practice is our longest running practice based on our 11-year relationship with the National Institutes of Health NIH. We assist in the acceleration of commercial success for NIHs top-tier grantees in Phase II of the SBIRSTTR program. 9PORTFOLIO COMPANIES WON TIBBETTS AWARDS IN 2015 ASPEN AEROGELS CELDARA MEDICAL BIOO SCIENTIFIC LIFT LABS PRECISION COMBUSTION INC. SENESTECH TECHSHOT TISSUETECH TRANSPOSAGEN 22LIFE SCIENCE INDUSTRY ADVISORY BOARD MEMBERS SUCH AS BAYER NOVO NORDISK SR ONE TRANSLATIONAL SCIENCES TS23 TECHNOLOGY ACQUIRED BY DAIICHI-SANKYO CELDARA MEDICALS ONCYTE LLC ACQUIRED BY CARDIO3 2LIFE SCIENCE PORTFOLIO COMPANIES OR COMPANY TECHNOLOGIES ACQUIRED IN 2015 70COMPANIES IN LIFE SCIENCE PRACTICE 22 MIDDLE EAR INFECTIONS ARE THE LEADING CAUSE OF HEAR- ING LOSS IN CHILDREN YET WE HAVENT MOVED PAST A BASIC MAGNIFYING GLASS TO DIAGNOSIS THEM. ITS TIME WE DO A BETTER JOB. RYAN SHELTON CEO CO-FOUNDER PHOTONICARE 1.5MNIH GRANT FOR CLINICAL TRIALS OF CLEARVIEW AT THE CHILDRENS NATIONAL HEALTH SYSTEM IN WASHINGTON DC What does PhotoniCare do We are a medical device company that has designed the first tool to be able to see through the eardrum ClearView. Our patented technology delivers near-infrared light alongside white light to simultaneously image both the surface of the eardrum and the contents of the middle ear. What sets you apart from the competition Ear infections are responsible for more office visits surgeries and hearing loss than any other childhood disease costing U.S. healthcare nearly 10 billion annually. Our novel view of the middle ear enables the user to identify biofilms and fluid buildup in the ear to better prescribe an effective strategy for disease management. What was Lartas impact on your company Larta has been phenomenal. They are interested and invested in what we are doing and how they can help us do it. Lartas founder Rohit Shukla has a contagious passion for startups interested in changing the world. QA Ryan Shelton CEO Co-Founder Champaign Illinois Industry Life SciencesMedical Device Technology PhotoniCare ClearView a medical device that sees through the eardrum Larta Program NIH CAP 2014-2015 Photo Community Concierge Magazine What PhotoniCare is doing will improve the quality of life of millions of children and their parents.SUSAN ROWINSKI LARTA PRINCIPAL ADVISOR WON NATIONAL CAPITAL CONSORTIUM FOR PEDIATRIC DEVICE INNOVATION 22 LIFE SCIENCE COMPANY PROFILE PHOTONICARE 23 PROGRAMS AND PRACTICES23 SUSTAINABLE TECH IT Our Sustainable Tech and IT practice fuels the world Anchored by our 6-year partnership with the National Science Foundation NSF our sustainable tech and IT practice offers up an eclectic and inspiring group of companies focused on getting to the next stage of commercialization funding. Also in 2015 we initiated our first Commercialization Accelerator Program CAP with the National Institutes of Standards and Technology NIST. LARTAS PROGRAM HAS BEEN INCREDIBLY BENEFICIAL TO US. FROM THE VERY BEGINNING THEY TOOK THREE TECHNICAL FOUNDERS AND GAVE US THE BUSINESS GUIDANCE WE NEEDED TO SUCCEED. LARTA PROVIDED US WITH OPPOR- TUNITIES SUCH AS THE AG INNOVATION SHOWCASE TO PROMOTE OUR GROWTH AND HELPED US ALONG OUR WAY TO COMMERCIALIZATION. ANNE SCHAUER-GIMENEZ VICE PRESIDENT METHANE MARKETING MANGO MATERIALS 138COMPANIES IN OUR SUSTAINABLE TECH AND IT PRACTICE 28INDUSTRY ADVISORY BOARD MEMBERS SUCH AS GE VENTURES SCHLUMBERGER GM VENTURES 2424 MANGO MATERIALS TAKES ON TWO OF THE BIGGEST ENVIRONMENTAL ISSUES OF OUR TIME METHANE GAS AND PLASTIC POLLUTION IN OUR ENVIRONMENTS. OUR TECHNOLOGY IS A GAME CHANGER. ANNE SCHAUER-GIMENEZ VICE PRESIDENT METHANE MARKETING MANGO MATERIALS MANGO MATERIALS TECHNOLOGY IS SOLID. AS A COMPANY THEY HAVE A WELL-DEFINED STRATEGY ON HOW TO MOVE FORWARD MAKING THEM A VERY VIABLE COMPANY. JULIE MORRIS LARTA PRINCIPAL ADVISOR What is Mango Materials technology We transform methane gas into biodegradable biopolymers plastics without environmental liability - to replace conventional plastics. Although we did not invent biodegradable polymers PHA we are the first to use methane as the input and the first to use a natural microbial process to convert methane gas into PHA. What sets you apart from the competition Excess methane emissions have negatively impacted our planet and the conve- nience of plastics has resulted in millions of tons of waste pollution each year. Our solution can help save the planet without giving up the convenience of disposable plastics goods. Our decentralized model allows us to be co-located at the site of methane production giving smaller facilities an economic way to transform their methane gas. What was Lartas impact on your company Weve been involved with Larta since 2012 and Lartas programs have been incredi- bly beneficial to us. From the beginning they took three technical founders and gave us the business guidance we needed to succeed providing us with opportunities such as the Ag Innovation Showcase to promote our growth and help us along our way to commercialization. QA Anne Schauer-Gimenez Vice President Methane Marketing Palo Alto California Women-Owned Business Industry Cleantech Biobased Materials Technology BioPlastics Larta Program NSF 2012 Ag Innovation Showcase 2015 SUCCESSFUL FIELD TEST RESULTS IN SF BAY AREA PRESENTED AT AG INNOVATION SHOWCASE NAMED BIOFUELS DIGEST HOTTEST 40 SMALL COMPANIES IN THE ADVANCED BIOECONOMY FOR SECOND YEAR IN A ROW 24 SUSTAINABLE TECH COMPANY PROFILE MANGO MATERIALS 25 PROGRAMS AND PRACTICES25 AGRICULTURE Our Ag practice feeds the world We believe we are experiencing a prelude to significant Ag industry expansion. As an industry agriculture has made great strides in a few years. Investor confidence is also increasing strongly especially in the past two years. Larta has been a commercialization partner with the U.S. Department of Agriculture USDA for the past eight years. Our Ag practice is our fastest-growing practice. In addition to our work with grantees of USDAs programs we continue to evolve the well-known annual Ag Innovation Showcase and to grow Lartas Global Ag Innovation Network GAIN. The Showcase presents innovations from around the world and GAIN convenes small groups of engaged practitioners across the country to discuss and con- sider Ags important issues. 77COMPANIES IN AG PRACTICE 13AG INDUSTRY ADVISORY BOARD MEMBERS SUCH AS ARCHER DANIELS MIDLAND SYNGENTA BAYER CROP SCIENCE LARTA HAS BROUGHT OUR COMPANY LEADERSHIP IN FRONT OF HIGH-CALIBER NETWORKS FUNDERS INDUSTRY PRO- FESSIONALS AND VISIONARIES. THIS IS IN MY OPINION A MOST VALUABLE OFFERING. AMELIA BAXTER CEO CO-FOUNDER WHOLETREES 2AG COMPANIES ACQUIRED IN 2015 HARRISVACCINES INC. ACQUIRED BY MERCK ANIMAL HEALTH EUREKA GENOMICS ACQUIRED BY AFFYMETRIX FOR 15M 2626 ITS LIKE GETTING RAIN OUT OF THE ATMOSPHERE. THE EASE OF APPLICATION OF AN OTHER- WISE COMPLEX TECHNOLOGY IS WHAT MAKES IT SUCH AN INNOVATIVE AND ATTRACTIVE PRODUCT. PETER HONG LARTA PRINCIPAL ADVISOR 6.5MTOTAL FUNDS RAISED 2MWON IN GRANTS What is NBD Nanotechnologies innovation We have developed advanced coatings that mimic the Namib beetles natural process of collecting water and integrated these coatings into fog nets that capture water from fog. What sets you apart from the competition We are the first company to utilize hydrophobic coatings for water capture from fog. We have the potential to bring clean potable water to remote areas where irrigation and drilling a well would be too expensive. What was Lartas impact on your company The Larta program was very helpful in aligning team goals for not only the success of the grant but also ultimate road mapping to commercialization of a federally grant funded technology. QA Deckard Sorensen Co-Founder President Brighton Massachusetts Industry Material Science Surface Technology Technology Hydrophobic and oleophobic surface coatings for fog nets to capture water Larta Program USDA CAP1 2014- 2015 and USDA CATP 2015-2016 AWARDED MASSACHUSETTS CLEAN ENERGY CENTER IN- NOVATEMASS GRANT FOR 150000 WITH ADDITIONAL 150000 IN MATCHING FUNDS 750KWON USDA PHASE II Every nine seconds a child dies from water- related diseases. The world needs water now. BONG ZHANG PRINCIPAL SCIENTIST 26 AGRICULTURE COMPANY PROFILE NBD NANOTECHNOLOGIES 27 PROGRAMS AND PRACTICES AG INNOVATION SHOWCASE The Ag Innovation Showcase is the premiere event in the ag tech world. The Showcase surpassed all my expectations and will remain my top pri- ority conference. KEITH GILLARD PANGAEA VENTURES 20AG COMPANIES FROM FIVE DIFFERENT COUNTRIES PRESENTED AT THE 2015 SHOWCASE. 13FOREIGN COUNTRIES REPRESENTED 32U.S. STATES REPRESENTED 477MRAISED BY SHOWCASE COMPANIES SINCE 2009 83SHOWCASE COMPANIES FOUND INVESTOR LEADS SINCE 2009 6ACQUISITIONS Our world-class ag event intersects innovation with investment Ag Innovation Showcase in 2015 was widely acknowledged to be the best ever in its seven-year history. Together Larta Institute and our partners Donald Danforth Plant Science Center and BRDG Park have grown a pinnacle event for the ag industry which brings the best of ag innovation and investors together for three days in St. Louis MO the heartland of American agriculture. 28 ATTENDEE GROWTH HAS MORE THAN DOUBLED SINCE THE INAUGURAL EVENT IN 2009 397MEETINGS SCHEDULED 1311PRIVATE MESSAGES SENT AGSHOWCASE FOLLOWER BASE GREW 40 TECHNOLOGIES PRESENTED FARMING INNOVATIONS BIOLOGICAL SOLUTIONS PRECISION AG RENEWABLES SUSTAINABLES WE GOT GREAT VISIBILITY FROM THE AG SHOWCASE IT HELPED GET US OUT OF THE NORTHEAST AND SHOWCASED OUR COMPANY NATIONALLY. THE AG SHOWCASE WAS THE BEST THING FOR MY COMPANY. SARAH BELLOS FOUNDER AND CEO STONY CREEK COLORS ONLINE NETWORKING TOOL LARTALINK 29 PROGRAMS AND PRACTICES AG SHOWCASE COMPANY PROFILE WHOLETREES ARCHITECTURE STRUCTURES LLC What does WholeTrees do We have combined science engineering forestry and architecture into one comprehensive package. We sell structural product made of round timber to the commercial construction industry and we innovate the technologies required to scale the use of this low-value forest product in construction internationally. What sets you apart from the competition We bring low-value timber to high-value construction markets meeting the green con- struction markets aspirations and supporting healthy forest management. Our proprietary software engineers lumber waste products into viable industry-standard materials to build strong sustainable and beautiful commercial structures. What was Lartas impact on your company Larta has brought our company leadership in front of high-caliber networks funders industry professionals and visionaries. Madison Wisconsin Women-Owned Business Industry Manufacturing and Material Science Technology Biomaterials Larta Program USDA CATP 2014-2015 and 2015-2016 AgTech Week 2015 and Ag Innovation Showcase 2015 Low value timber to high value markets 90 of our lives are spent inside buildings. In a world where global warming and forest conservation are a high priority we offer a win-win solution between sustainable architecture and beauty. AMELIA BAXTER CO-FOUNDER CEO Amelia Baxter CEO and Co-FounderQA 30 WINNER NATIONAL FOREST FOUNDATIONS BARRETT PRIZE PATENT FOR STEEL CONNECTIONS THAT ENABLE LONG-SPANNING TIMBER TRUSSES AIA CES USGBC ACCREDITATION 1MIN 2015 REVENUE 1.8MRAISED IN EQUITY AND DEBT WINNER BEST-IN-SHOW AT AG INNOVATION SHOWCASE 31 Our national leadership forum creates community Larta Institutes national leadership forum series brings together agriculture industry professionals to spur knowledge of and interest in cutting-edge agri- cultural technologies and issues. GAIN forums draw a diverse cross-section of the ag industry including professionals at the C-suite and senior management levels innovators investors academia and government agency representa- tives foundations professional service providers and other stakeholders. In 2015 we developed and presented the following thematic events under GAIN Global Ag Innovation partnered with Larta to produce GAIs first AgTech Week in San Francisco CA. Larta presented five portfolio companies AeroFarms Asilomar BioSemios S4 WholeTrees on the mainstage for the AgTech Innovation Exposition. PROGRAMS AND PRACTICES GLOBAL AG INNOVATION NETWORK MARCH 2015 PALO ALTO Closed-Loop Systems Panel with AeroFarms One Crop Holdings and Local Roots Farms MAY 2015 SAN DIEGO AgTech The promise of a new frontier Panel with Bayer Crop Science Connect Biocom and AeroVironment OCTOBER 2015 LOS ANGELES Food for Thought New Sources New Systems Panel representing LA Prep Healthy Dining Grist Toll and Pontifax AgTech Fund. In association with LA Innovation Week 32YOUVE DONE THE SCIENCE. NOW LETS BUILD YOUR BUSINESS 33 PROGRAMS AND PRACTICES GLOBAL BRIDGE Our Global BridgeTM practice pushes boundaries Through our Global Bridge practice Larta has launched and managed commercial- ization programs in 22 countries over the course of 20 years in partnership with a host of organizations and institutions. Our trademark network-centric model facilitates introductions of overseas innovators to the U.S. market. Sharing our Commercialization Accelerator Program CAP structure with our in-country local partners establishes us as a trusted friend and advisor. In 2015 we launched the Bioeconomy Accelerator Program for Malaysian entrepreneurs and the second edition of RICAP a commercialization program focused on Romanian entrepreneurs. We hosted four Soft Landings featuring nine companies and two FeedForward sessions benefitting 36 entrepreneurs. Sixty-eight strategic introductions were made to U.S. potential partners mentors and investors. COUNTRIES WE HAVE WORKED WITH Australia Brazil Canada Chile China Colombia Finland Israel Japan Korea Malaysia Netherlands New Zealand Romania Russia Saudi Arabia Serbia Sweden United Arab Emirates United States Uruguay Vietnam FIRMS THAT PARTICIPATED IN THE RICAP PROGRAM HAVE SUBSEQUENTLY RECEIVED INVITATIONS TO PARTICIPATE IN THE U.S. DEPARTMENT OF ENERGYS ARPA-E PRO- GRAM RECEIVED U.S. PATENTS GAINED ACCESS TO U.S. AND WORLDWIDE MARKETS AND HAVE ESTABLISHED STRA- TEGIC RELATIONSHIPS WITH FORTUNE 100 ENTITIES TO FACILITATE GROWTH. DAVID OLSON LARTA PRINCIPAL ADVISOR 35FOREIGN COMPANIES ASSISTED IN 2015 34 What does Flashnets technology do Our technology integrates hardware and software to create remote street lighting management systems inteliLIGHT and inteliGRID for smarter city infrastructures that can conserve energy reduce CO2 emissions save municipalities money and be customized and upgraded with virtually no limitations to improve safety and collect data. What sets you apart from the competition We use open protocols for both hardware and software allowing for the highest level of systems interoperability. Our hardware is vendor-neutral and its software supports other operating systems. What was Lartas Romanian program RICAP impact on your company RICAP provided high-quality international exposure and helped us realize the importance of every detail in all areas in our business. It was a very revealing experience and we are confident that all the exposure and mentorship we received will help us further expand our business. QA Radu Crciun Chief Business Development Officer Braov Romania Industry ITSoftware CleantechEnergy Technology Internet of Things Remote Street Lighting Management Larta Program RICAP 2014-2015 We have created a one-stop shop to help make cities safer smarter and more sustainable. RADU CRCIUN CHIEF BUSINESS DEVELOPMENT OFFICER 34 FLASHNETS PLATFORM OPENS THE DOOR FOR SMART CITIES TO BECOME A REALITY AROUND THE WORLD. DAVE OLSON LARTA PRINCIPAL ADVISOR SOFT LANDING IN LOS ANGELES OPERATIONS IN BAHRAIN HUNGARY INDONESIA POLAND ROMANIA RUSSIA AND SAUDI ARABIA RELEASED THE WORLDS FIRST LORATM STREET LIGHTING CONTROL SOLUTION AND FIELD TESTED IN SZADA HUNGARY RICAP PROVIDED HIGH-QUALITY INTERNATIONAL EXPOSURE AND HELPED US REALIZE THE IMPOR- TANCE OF EVERY DETAIL IN ALL AREAS IN OUR BUSINESS. IT WAS A VERY REVEALING EXPERIENCE AND WE ARE CONFIDENT THAT ALL THE EXPOSURE AND MENTOR- SHIP WE RECEIVED WILL HELP US FURTHER EXPAND OUR BUSINESS. RADU CRCIUN CHIEF BUSINESS DEVELOPMENT OFFICER FLASHNET GLOBAL BRIDGE COMPANY PROFILE FLASHNET 35 ALBA-TECHNIC LLC Advanced impact absorbing materials Being chosen as a finalist in the NFL Head Health Challenge opened our eyes to the multitude of ways our shock-absorbent material can help a great number of people. Keeping people healthy is what keeps us going. JIM FERGUSON FOUNDER CEO ALBA-TECHNIC LLC What is Alba-Technics technology Our patented shock-absorbent material is architected to be normally soft and compli- ant but upon impact the outer layer imme- diately changes into a hard shell to spread the energy over the honeycomb EVO2 matrix. There is an unmet need for innovative impact-absorbing materials that has the potential to affect millions of people every day across all ages and walks of life. Its a big market from children and teens to pro- fessional athletes and soldiers and to the growing elderly population. What sets you apart from the competition Hundreds of lab tests have proven our materials are highly effective compared to whats currently available on the market. What was Lartas impact on your company Our Principal Advisor Jim McGough has had an important influence on us because he gets what we are trying to do and he understands that there was an unforeseen change in our market potential when we won the NFL challenge. Winthrop Massachusetts Industry Life Science Healthcare Medical Devices Technology Advanced impact absorbing materials Larta Program NIH CAP 2015-2016 Jim Ferguson Founder CEOQA COMPANY PROFILE 36 ALBA-TECHNIC WAS VERY RECEPTIVE AND OPEN TO NEW IDEAS. THEY ARE WILLING TO GROW ORGANICALLY BUT UNDERSTAND THE TIME TO ACCELERATE IS NOW. THEY ARE READY FOR IT. JIM MCGOUGH LARTA PRINCIPAL ADVISOR 1.4M IN RESEARCH GRANTS FINALIST NFL HEAD HEALTH CHALLENGE III 250K WITH OPPORTUNITY TO WIN AN ADDITIONAL 500K BY THE END OF 2016 37 MOVING AND SHAKING National Advisory Council on Innovation and Entrepreneurship 2015 marked the first full year of engagement for Rohit Shukla on the Department of Commerces advisory group on issues of entrepreneurship chaired by the U.S. Secretary of Commerce Penny Pritzker. Rohit was appointed to the Council for his deep expertise in commercialization and knowledge of the startup community. The committee met four times over the year to discuss critical issues that drive the economy and allow entre- preneurs and firms to access the global markets and develop a skilled globally competitive workforce. The Council is expected to develop key recommendations in a number of areas in 2016. HAVING ROHITS EXPERTISE AND KNOWLEDGE ON THE COUNCIL IS SECOND ONLY TO THE EN- ERGY HE BRINGS TO EVERY MEETING. BECAUSE OF PASSIONATE LEADERS LIKE HIM THIS NACIE WILL LEAVE A LASTING LEGACY OF IMPACT BOTH IN THE FEDERAL GOVERNMENT AND IN THE COMMUNITIES WE TOUCH. JULIE LENZER DIRECTOR OFFICE OF INNOVATION AND ENTREPRENEURSHIP APPOINTMENTS AND EXPERTISE 38MOVING AND SHAKING LA County BioScience Coalition Los Angeles County Supervisor Mark Ridley-Thomas led the Board of Supervisors launch of an LA County BioScience Coali- tion. Rohit Shukla was invited to participate and later in the year was a member of the selection committee choosing a consultant tasked with developing an implementation plan based on the Battelle Report. Phase 1 of the initiative was the approval of a 250k contract to develop a plan to boost jobs and energize the bioscience cluster in the region. Inter-American Development Bank Constanza Pachon Lartas President and COO was tapped by the Inter-American Development Bank to lead a white paper on the rejuvenation of Perus innovation ecosystem. The effort was an audit of Perus human capital best practices from around the world and final recommendations based on a gap analysis of entrepreneurial talent private capital university and research institutions government industry service providers and support organizations. The papers recommendations were presented to the Inter-American Development Bank in May 2015. North American Agribusiness Advisory Board NAAAB Meeting Rohit Shukla was tapped to present Lartas unique perspective on the ag industry to Rabobanks North American Agribusiness Advisory Board. Rohit spoke about the growth of investor inter- est in the sector including data from the Ag Innovation Showcase and specific technologies that had made their mark in the year including CRISPR-Cas and biologicals. He also spoke about the need to engage the public at large on the benefits of the science and to diminish the impact of myths and misplaced concerns. LAUNCH Green Chemistry Innovators Forum Carlos Gutierrez Lartas chief strategy officer was a council member in the LAUNCH Green Chemistry Innovators Forum with a Green Chemistry Challenge component. Funded by NASA and Nike the forums mission was to identify innovators who leverage or advance green chemistry to transform materials and manufac- turing for a sustainable future. Council members were pitched to by finalist companies and worked directly with companies in roundtables to give them face-to-face feedback. Larta portfolio company Mango Materials was among the challenges finalists. 39 COMPANY PROFILE STONY CREEK COLORS What does Stony Creek Colors do We are disrupting an old and ecologically damaging textile dye industry dominated by foreign companies. Our Whole Systems Approach works from seed to closet for safer bio-based dyes such as indigo that simultaneously helps American farmers seeking alternatives to tobacco keep their land in productive agriculture. Weve worked across the agricultural value chain to improve seed supply and the ge- netics of indigo mechanize crop production and improve the extraction processes to make it more scalable. What sets you apart from the competition Our indigo production requires soil seed sunlight and rainfall and the extraction pro- cess is environmentally sustainable a big change from the 45000 railroad cars worth of hazardous chemicals that go into the production of synthetic indigo every year. What was Lartas impact on your company We got great visibility from the Ag Show- case it helped move awareness of our firm outside the Southeast and showcased our company nationally leading directly to terrific partnerships and relationships. Whites Creek Tennessee Women-Owned Business Industry AgricultureGarment Bio-based Products Technology Novel and improved methods for extracting colorants from indigo and black walnut Larta Program USDA CATP 2014-2015 and Ag Innovation Showcase 2015 Extracting colorants from indigo and black walnut Sarah Bellos Founder CEO We are healing the world by replacing hazardous chemicals responsible for 70 of pollution globally with a natural sustainable alternative indigo - a high-value cash crop. SARAH BELLOS FOUNDER AND CEO STONY CREEK COLORS QA 40YOUVE DONE THE SCIENCE. NOW LETS BUILD YOUR BUSINESS SARAH HAS DEMONSTRATED THE ABILITY TO USE PLANT- BASED SYSTEMS TO DEVELOP MULTIPLE ENVIRONMENTALLY SUPERIOR WATER-BASED COLOR DYES OPENING NEW OPPORTUNITIES FOR FARMERS IN THE UNITED STATES. AT THE SAME TIME SHE HAS BEEN ABLE TO ESTABLISH RELATION- SHIPS WITH SOME VERY LARGE FASHION COMPANIES AND FABRIC MILLS WILLING TO WORK WITH HER TO COM- MERCIALIZE HER COLOR DYES. BOB CALCATERRA LARTA PRINCIPAL ADVISOR FEATURED IN FORBES THE TENNESSEAN WZTV FOX 17 PARTNERSHIP WITH CONE DENIM PRESENTED AT AG INNOVATION SHOWCASE Photo Gina R. Binkley 41 INSIDE LARTA We worked from the inside out to improve our in-house tools and practices to make our commercialization programs and services more efficient. BUILT A TRACKING SURVEY TO CAPTURE COMPANIES ROAD TO DEAL ONCE THEY EXIT OUR PROGRAMS. IT IS THE FIRST STEP IN A FIVE-YEAR COMPREHENSIVE STUDY ON LARTA COMPANIES COMMERCIAL EXITS. 53ARTICLES WRITTEN ON OUR COMPANIES EVENTS PARTNERS AND METHODOLOGY ON OUR BLOG VOX 1500LARTAINSTITUTE TWITTER FOLLOWERS GREW BY 650 IN Q3 AND Q4 IMPROVEMENTS TO LARTALINK OUR IN-HOUSE ONLINE NETWORKING AND EVENT SCHEDULING TOOL CREATED A SEAMLESS EXPERIENCE FOR AG INNOVATION SHOWCASE ATTENDEES. MEETING ROOMS WERE BOOKED TO CAPACITY THROUGH LARTALINK. 12NEW PRINCIPAL ADVISORS ADDED TO OUR DEEP BENCH OF INDUSTRY EXPERTS MOVED OUR SERVERS TO THE CLOUD TO PROVIDE MORE RELIABLE AND CONSISTENT EXPERIENCE WITH OUR PORTAL AND WEBSITES FOR OUR STAKEHOLDERS. 2014 Annual Report Lartas Ag Practice 606 South Olive Suite 650 Los Angeles CA 90014 larta.org Our ag practice is thriving. We produce two dedicated world-class ag events organize and convene a subject matter series focused on issues in the new ag and manage an exclusive commercialization engagement with USDA. A thought leader on innovation in agriculture we have raised our global profile our network continues to grow and our companies benefit from this unparalleled access. With twenty-two years of experience Larta Institute is known for its exceptional innovation management. We are passionate about nurturing innovators whose output feeds the world fuels the world and heals the world. AGTECH WEEK We pooled our industry knowledge and network with GAI another ag thought leader to create this ground- breaking ag investment conference on the West Coast. GAIN Lartas quarterly insight series drills down on topics shaping new Ag today. The intimate setting and detailed discussion make it a powerful quarterly networking event for our ag network. USDA Larta is the exclusive contractor for commercialization of agricultural innovations funded by USDA across a wide variety of areas averaging over 60 ag companies assisted a year over the last three years. 150M IN NON-DILUTIVE FUNDING AWARDS TO OUR PORTFOLIO COMPANIES IN 2014 201 STRATEGIC INTRODUCTIONS FACILITATED IN 2014 148 INVESTOR FIRMS IN OUR NETWORK IN 2014 430M RAISED BY AG INNOVATION SHOWCASE COMPANIES SINCE 2009 110 AG TECHNOLOGIES SHOWCASED TO PRESENTERS 500 AG ENTREPRENEURS MENTORED Lartas trusted accelerator programs are designed to provide tailored assistance rather than engage a one-size-fits-all approach. Entrepreneurs in our portfolio receive valuable one-on-one assistance from industry and domain experts and use our tools to create their own roadmap to commercial success. AG INNOVATION SHOWCASE Now in its eighth year The Showcase curates and presents high-impact innovations from around the world and discussions about trends in the ag industry. It is widely acclaimed as the go to event for ag innovation. SINCE 2009 CONTACT CLAIRE KINLAW Agriculture Practice Director E ckinlawlarta.org LartaInstitute SINCE 2005 Youve done the science. Now lets build your business. 606 South Olive Suite 650 Los Angeles CA 90014 Being the entrepreneur of a company with a government grant is exciting and daunting. You are at the trailhead looking at unknown terrain. We know this terrain well. For 22 years Larta has been taking the risk out of startups. We have cultivated trusted commercialization programs and a robust national and international network - rich in technology and hard sciences expertise for our companies to tap. YOU NEED THE FREEDOM TO PIVOT ON YOUR SCHEDULE NOT OURS Lartas Commercialization Assistance Programs CAPs offer a flexible window of assistance. Our experience with entrepreneurs has taught us that there is not one curriculum to meet your needs. Instead we specialize in tailor-fit business assistance because when it comes to startups one size does not fit all. A PIVOTAL EXPERIENCE FOR INNOVATORS Working with Larta will give you the tools to write your own roadmap to commercial success and generate the introductions you need to connect to your industry. CONTACT ROHIT SHUKLA CEO T 1 213 538 1455 E rshuklalarta.org For more information visit www.larta.org BUSINESS STRATEGY Every startup needs a plan. First thing we do is help you develop a business strategy for your company with defined and measurable goals. STEP 1 MEET YOUR MENTOR It helps to have a guide. Youll work one-on-one with a dedicated mentor who has expertise commercializing products in your industry. STEP 2 INDUSTRY FEEDBACK We engage our network so you can connect with your industry. We give you access to lead- ing domain specialists from our network to give you can- did feedback on your startup in hot-topic areas such as law regulations funding product design and marketing. STEP 3 YOUR ROADMAP You walk away with the tools you need to succeed a customized commercialization plan industry connections and a strong sense of where your company is headed. STEP 4 With twenty-two years of experience Larta Institute is known for our exceptional innovation management. We are passionate about nurturing entrepreneurs whose innovations feed fuel and heal the world. Life sciences is a cornerstone of Lartas commercialization initiatives. We have been an exclusive partner with the National Institutes of Healths commercial- ization program for over a decade. This work along with our Global Bridge programs in 22 countries has enabled us to build a state-of-the-art life sciences practice focused on entrepreneurs developing innovations in the sector. Using our trademark network-centric model as our guide our trusted commercialization programs have been fine-tuned to provide highly customized business assistance to our portfolio companies. We developed and manage a wide and powerful network of industry and domain experts and employ a just in time methodology for each company because one size does not fit all when you are an innovator. We provide our portfolio entrepreneurs extraordinary assistance from our network and they use our customized tools to create their companys roadmap to success. Our powerful Industry Advisory Board features Fortune 1000 Fortune 500 and Global 500 companies which are available to our entrepreneurs. 150M IN NON-DILUTIVE FUNDING AWARDS TO OUR PORTFOLIO COMPANIES 201 STRATEGIC INTRODUCTIONS FACILITATED 148 INVESTOR FIRMS IN OUR NETWORK 967 LIFE SCIENCES INNOVATORS ASSISTED SINCE 2005 11 NUMBER OF YEARS CONTRACTED WITH NATIONAL INSTITUTES OF HEALTH NIH 26 NUMBER OF COMPANIES ACQUIRED OUR LIFE SCIENCES EXPERTISE MEDICAL DEVICES PHARMACEUTICALS BIOTECHNOLOGY DIAGNOSTICS RESEARCH TOOLS HEALTHCARE IT IN 2014 IN 2014 IN 2014 606 South Olive Suite 650 Los Angeles CA 90014 larta.org CONTACT CARLOS GUTIERREZ Chief Strategy Officer E cgutierrezlarta.org LartaInstitute We are very pleased to work with Larta as we celebrate the 10th anniversary of our NIH Commercialization Assistance Program and we look forward to continuing strong in the coming years. Larta continues to develop and improve innovative technical assistance programs and their staff are consummate professionals operating at the highest level. MATTHEW E. PORTNOY PH.D. DIRECTOR DIVISION OF SPECIAL PROGRAMS NATIONAL INSTITUTES OF HEALTH Lartas Life Sciences Practice LAUNCHED A PR AND MARKETING TEAM STRATEGY AND MATERIALS. INSIDE LARTA 42 44YEARS OF COMMERCIALIZATION EXPERIENCE 10SUCCESSFUL STARTUPS OF HIS OWN 3ADVANCED DEGREES HELD 10YEARS WORKING WITH LARTA PORTFOLIO COMPANIES 27YEARS OF CONSULTING EXPERIENCE Area of expertise Financial issues and business model strategic business planning IP strategy and strategic partnership planning Industry expertise Agriculturefood life scienceshealthcare and material science What do you enjoy most about working with Lartas portfolio companies The entrepreneurs I work with are very intelligent and driven to succeed making the process extremely fun and gratifying. They are quick to learn and adapt and their sincere appreciation of the help they receive adds to the many reasons why I work with Larta. What inspires you about these companies The companies in Lartas programs rep- resent some of the most leading-edge innovations and it is both an honor and a pleasure to help these entrepreneurs translate their technology into cogent commercialization opportunities. QA Bob Calcaterra Larta Principal Advisor Background Currently a principal at StartUp Mid- west Management a firm dedicated to the start-up structuring managing and financing of very early stage companies where he has personally been involved in raising 35M for these startups. Served as president and CEO of The Nidus Center for Scientific Enterprise where he led efforts to commercialize technologies in the plant and life sciences. Spent 19 years at three technology incubators where he oversaw the cre- ation of over 50 companies and raised well over 250M in equity financing and served on the boards of at least 40 of those companies. Adjunct faculty member in the Bio- medical Engineering Department at Washington University. Consults for many public and private institutions such as the USDA EPA and University and City of Madison Wisconsin. In 1995 he was appointed by President Bill Clinton as a delegate to the White House Conference on Small Business. BS and MS degrees in chemical engi- neering University of Nebraska at Lincoln. Doctorate in chemical engineering Washington University of St. Louis. Harvard Universitys Industrial Research Institute Executive Management Seminar. PA PROFILE BOB CALCATERRA 43 LARTA FINANCIALS ANOTHER YEAR IN THE GREEN SELF-SUSTAINING SOURCES OF REVENUE 86 CONTRACTED SERVICES 8 CONFERENCE FEES 6 CONTRIBUTIONS AND DONATIONS We put most of our money in our services to entrepreneurs DISTRIBUTION OF EXPENSES 85 COMMERCIALIZATION PROGRAM SERVICES 4 FUNDRAISING AND DEVELOPMENT 11 GENERAL ADMINISTRATIVE We are a self-sustaining organizationFor Larta being lean is not just a concept. Running a lean organization denotes a commitment to the bottom line and our mission. 85 of our expenses go directly to our commercialization program services. With 86 of our revenue from contract services we continue to be self-sustaining. 44PRESIDENTS MESSAGE Friends Thank you for taking the time to review these pages. We are proud to share our success and that of our companies and innovators with you. 2015 was a landmark year for us - record attendance for our events a solid contracts base and efficient program management made it Lartas best year ever in terms of financial results. As a result we were able to invest back into the organization to further strengthen it and in turn expand our services to the entrepreneurs we work with. In Q1 of 2016 we are focusing on strategizing for our immediate and long-term future. We now embark in a series of investments that will fuel that future in tools that will make operational day to day tasks easier and automated in people that will elevate our practice to new levels of professionalism in initiatives to strengthen our relationships with our network and in new ways to share our expertise and experience in innovation management with other practitioners in the areas of innovation ecosystems building and entrepreneurial assistance. Thank you for celebrating our success in 2015 and join us as we engage new strategies in 2016. Constanza Pachon President and COO Larta Institute and Subsidiaries 2015 was a landmark year for us - record attendance for our events a solid contracts base and efficient program management made it Lartas best year ever in terms of financial results. A MESSAGE FROM OUR PRESIDENT 45 Larta is a team of bright energetic and committed professionals helping to create and grow innovative companies with products and services that in many ways help make the world a better place. ROBERT ASHLEY CHAIRMAN OF THE BOARD LARTA INSTITUTE 46 ROBERT ASHLEY Chairman of the Board TIMOTHY J. COOLEY Board Member ELLIOT GORDON Board Member SHEZAD ROKERYA Board Member BOARD OF DIRECTORS ROHIT SHUKLA Founder and CEO Larta starts with an entre- preneurs past we help them engineer their present and we energize their future. CONSTANZA PACHON President and COO At Larta our point of view on entrepreneurship assistance and innovation management is rooted in practical real-world application not scholarly pontification. LARTA LEADERSHIP MEET THE TEAM LARTA TEAM 47 LARTA TEAM CARLOS GUTIERREZ Chief Strategy Officer In 2015 we expanded our Agriculture practice to drive interest in solutions for the developing world. In 2016 we will continue to make an impact by expanding our stakeholder network and through our trademark hands-on acceleration programs. JUDY HSIEH Programs Director In 2015 I spearheaded a sweeping search for professional mentors to deepen the expertise in our network and managed an organization-wide effort to fine-tune the protocols in our programs the bread and butter of Larta. In my new role as Programs Director I look forward to advancing our proven network-centric method- ology for our entrepreneurs. COREY CARLETON Director of Communications Building a new marketing and com- munications department from the ground up was challenging exciting and a time of discovery for my team. We are proud of the milestones we made a suite of sales one-sheets Lartas first animated video a sold- out Ag Innovation Showcase and are looking toward our next steps strengthening Lartas presence in the media. MIKE TECSON Senior Software Engineer 2015 was a whirlwind year of IT im- provements at Larta. We overhauled the architecture of the Larta Portal to prepare for a fully cloud-hosted solution and made major improvements to our LartaLink networking tool in anticipation of a mobile app launch. In 2016 I look forward to expanding our technology solutions and integrating other industry tools into our workflow so that we can leverage our plat- form and better serve our entrepreneurs. CLAIRE KINLAW Director Agriculture Practice Im excited to have joined the team this year to help Larta grow its impact within the agriculture community. With our USDA Commercialization Accelerator programs running smoothly and our premier ag event the Ag Innovation Showcase reaching pre- mier status we are expanding our thought leadership and network through GAIN as well as developing new customers and new business offerings. ASHLEY MOLINA Operations Manager Last year Operations and IT made major strides in building a dynamic financial forecasting model on our portal. In 2016 I look forward to putting the new systems in place and improving Lartas operational and organizational efficiency so we can focus on what we do best helping entrepreneurs transform their technology ideas into solutions. 48LARTA TEAM MARCO HENKEL Senior Programs Manager 2015 saw the successful conclusion of our RICAP pilot project which included hosting two promising Romanian entre- preneurs as part of a U.S. Soft Landing visit. We also successfully concluded the first cycle of a new project with NIST and continued our partnership with NSF. I look forward to building on these successes in 2016. VIVIANA LIMON Senior Programs Associate In 2015 I had the opportunity to work closely with several international com- panies through which I learned a great deal about the nuances of entering the US market. I look forward to using this new knowledge in business to continue our efforts on expanding our global reach. ALANA PACHECO Programs Associate 2015 was a big learning year for me from learning about our USDA programs to putting on the Ag Innovation Showcase. In 2016 I look forward to further building our Ag program and cementing Lartas reputation as a thought leader in the field. CINDY LE External Relations Associate Hitting the ground running in 2015 as Lartas first communications department weve completed a suite of marketing ma- terials across all platforms and established a strong marketing foundation. In 2016 I look forward to leading new ER initiatives and strengthening Lartas presence as thought leaders in the industry. KRISTOPHER SALIBA Junior Software Engineer Joining the team in late 2015 I jumped right into the midst of Lartas programs in full swing. I immersed myself in both the organization and its IT infrastructure providing support on all fronts. In 2016 I look forward to improving our Portal user experience both internally and externally to assist our entrepreneurs on their road to commercialization. SHARON SENKO Programs Associate Joining the Larta team was an exciting way to start 2016. I look forward to deepening my understanding of our NSF NIST and RICAP programs and delivering a positive impact to all the innovative companies we work with. 49 For 22 years Larta Institute has been energizing ideas by evolving our ground breaking network centric methodology focused on superior outcomes for innovators and their innovations. By cultivating and engaging a powerful expert network fine tuning our commercialization programs year after year and running a lean and nimble organization we have earned trust and respect from our clients our companies and our network. By focusing on what matters most and sharing our value proposition and passion for innovation we will continue to solidify our reputation as a leader in charting the application of innovation in our world. THE LARTA STORY THANK YOU TO OUR SPONSORS AND PARTNERS