Photonics Center Inks Business Development Pact with French Optics Consortium

in College of Engineering, News Releases, Science & Technology
February 6th, 2004

Contact: Ann Marie Menting, 617/353-2240 | amenting@bu.edu

(Boston, Mass.) — Boston University President ad interim Aram Chobanian and Photonics Center Director Donald Fraser recently joined Francis Mer, France’s Minister of Economy, Finance, and Industry, in announcing a joint initiative for technology commercialization and company development in optics and photonics. The memorandum of understanding between the Center and France’s Opticsvalley, a consortium of optics and photonics companies, aims to foster the establishment of French start-up companies in the United States.

The agreement underscores the success and international recognition of the Photonics Center’s business accelerator model. Since it began in 1997, the Center has successfully guided start-up companies through the difficult development and technology commercialization process. To date, it has participated in the launch of 17 technology-commercialization companies, which together have raised nearly $200 million from outside private-equity sources.

“Our business accelerator model has experienced remarkable success in the midst of a terrible economic climate,” says Fraser. “The international community, especially France, has taken note of this success. We look forward to sharing our company development and commercialization expertise with Opticsvalley and the French government, as well as to working with them to establish French businesses here in the U.S.”

The Photonics Center at Boston University (http://www.thephotonicscenter.com) identifies and develops technologies based on the practical applications of light. Through a jointly managed program with Beacon Photonics, the Center provides an entrepreneurial environment for emerging photonics technology companies, helping them move quickly and successfully from idea to market.

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