FOR IMMEDIATE RELEASE

CONTACT:
Karen Glenn Hood
410-767-6318
kglenn@choosemaryland.org

INNOVATIVE TECHNOLOGY FIRM TAPPED FOR STATE INVESTMENT
Aguru Images to use $100,000 in start up funds for sales, marketing

Baltimore, MD (June 25, 2008) – Governor Martin O’Malley announced today that Aguru Images, an innovative technology firm that develops and sells high-resolution commercial digital imaging hardware and software for use with animation, special effects, computer gaming and design, has received a $100,000 investment from the Maryland Department of Business and Economic Development (DBED). The investment will be made through DBED’s Challenge Investment Program, which is designed to assist small start-up companies in the high technology sector. The company, which recently relocated its headquarters from Alexandria, Va. to Rockville, will use the funds to boost its sales and marketing efforts.

“Maryland is pleased to welcome Aguru Images to our technology-friendly business community, and we look forward to working with them to ensure their business continues to grow,” said Governor O’Malley. “Maryland is continuing to build its reputation as a technology leader by continuing to attract the types of cutting-edge companies that will help prepare us for the economy of tomorrow.”

“Aguru Images is a company on the rise and we applaud the State for recognizing our market potential and technology leadership by making this investment,” said Saul Orbach, Aguru’s founder and COO. “Doing business in Maryland gives us access to great talent and resources and we look forward to a promising future here and a fruitful collaboration with the State.”

Founded in 2006, Aguru Images has carved out a niche in the technology industry by addressing the market demand for photorealistic digital images in computer graphics. The company offers the first and only complete solution to accurately capture and process all possible lighting conditions of real world textured surfaces for use in 3D Computer Generated Imagery. Aguru’s advanced capture technologies reduce the time, cost and complexity of pre-production, production and post-production rendering for simulations and interactive computer graphics. These technologies use a combination of mirrors, lights and cameras to take many images very quickly that then plug into any industry standard renderer to create the final image. Aguru was founded to commercialize highly innovative technologies developed at USC’s Institute for Creative Technologies and NYU’s Courant Institute as well as other works. The company’s target markets include visual effects in motion pictures, computer and video games, animation, and design – for improved renderings by interior, fashion, architectural and industrial designers.

For more information, visit www.aguruimages.com.

About DBED’s Challenge Investment Program
DBED’s Challenge Investment Fund provides financing for small start-up technology companies to cover a portion of the initial costs associated with bringing new products to market.  Companies are required to provide matching funds to be eligible for the State funding. Since its inception, the Challenge Investment Program has provided more than 100 emerging technology companies with initial financing support for the commercialization of new technology-driven products. To be eligible, a company must have no more than 25 employees and annual sales revenues of $1 million or less. Companies that meet agreed-upon milestones may receive up to $150,000 in assistance from the Challenge Investment Program. For more information, visit www.choosemaryland.org

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