Innovation Economy Corporation engages Russell Armstrong to spearhead technology commercialization investment partnership
By leveraging University-level research assets, leading Los Angeles merchant banking firm and Inland Empire
economic development company will source low-risk, high-impact investment opportunities
LOS ANGELES, CA, February 05, 2011
Innovation Economy Corporation (IEC) has teamed up with Russell Armstrong. Managing Director of Crescent Financial Partners, Inc. (CFP), a Los Angeles-based private equity merchant banking firm, to source local technology commercialization opportunities. Through IEC's partnershipwith several top University research facilities, the partnership seeks to capitalize on projects that leverage
licensed technologies in everything from biotech to pharma.
Founder and CEO of IEC, Amro Albanna, is a well-respected local business leader whose credits include
founding multiple start-up technology companies; recipient of the United States Presidential Citation award; co-
founder of the Riverside Technology CEO Forum, and Crescent Financial Partners Managing Director for the
Inland Empire region:
"The IEC has access to some of the nation's leading researchers, some of whom have been working on
technological advancements that will have implications on social health issues such as eradicating malaria,"
remarked Albanna. "Additionally, we hold technology licenses for innovative diagnostic tools that could quite
literally change the way we detect human viruses. This opportunity for investors is a 'win' on multiple levels
from the researchers who will be able to continue their research to the communities who will benefit from the
job creation and economic growth."
Added Russell Armstrong, Managing Director of Crescent Financial Partners, Inc: "We are excited to partner
financially with IEC so they can continue the great work they have begun with local innovators. We feel there
are tremendous opportunities in the Inland Empire Region and at very attractive valuations."
About Crescent Financial Partners, Inc.
Los Angeles-based Crescent Financial Partners, Inc. (http://CrescentFinancialPartners.com) is a private equity
merchant banking firm, focused on early stage and middle market opportunities. CFP is a principal investor,
providing project and growth funding, business development expertise, and strategic and financial guidance.
About the Innovation Economy Initiative (OR do we need "About IEC?")
The Innovation Economy (www.TheIE.org) is a privately-driven initiative in partnership with stakeholders from
education and government, focused on strengthening the innovation cluster in Inland Southern California.
Media Contact:
Rebekah Iliff, talkTECH Communications
Rebekah@talkTECHcomm.com
Phone: 310-770-8338