EvoNexus Evolves: CommNexus Absorbs Incubator, Accepts San Diego’s Independa as Latest Resident Startup
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somewhat problematic because the two organizations had different designations under the federal tax code. EvoNexus was created as a 501(c)(3) nonprofit, a designation that includes certain non-profit educational, charitable, and scientific organizations, while CommNexus operates as a 501(c)(6), a classification for industry groups, chambers of commerce, and other business leagues.
Hell was out of the country, and could not be reached for comment. But Moore said board members traditionally run CommNexus programs on a voluntary basis. He also was enthusiastic about Hell’s talent and capabilities, including his experience running a public company, his contacts in Silicon Valley, and his experience in mergers and acquisition, and in raising money. “He becomes the confidante for many of the startup CEOs, so it’s worked out great,” Moore said.
The changes at EvoNexus came to light just as San Diego-based Independa is announcing its acceptance to the EvoNexus program. Independa, which made its debut three months ago at the Demo Fall 2010 conference, has been developing an in-home wireless tablet and an integrated system of wireless sensors and other services to help family caregivers monitor their loved ones. The system provides real-time information, customized analytics, and alerts for missed medications, prolonged inactivity, and other critical events.
EvoNexus provides free and fully furnished office space, utilities, broadband Internet access, and education and business mentoring by local executives and other volunteers. The incubator currently houses nine seed-stage companies, according to the EvoNexus website. Startups are allowed to stay for as long as two years, and will have no financial or other obligations to EvoNexus after they depart.
“The fact that we passed the EvoNexus selection process says something in itself,” says Kian Saneii, Independa’s founding CEO. “I guess you could say we’re the transition company. We’re maybe the first of the new startups to join EvoNexus, and the last of the old.”