I’m proud to share that we’ve recently launched the Hwy 50 Corridor Economic Development email newsletter. The newsletter will feature highlights, opportunities, and stories from the region’s startups, companies, and entrepreneurs. 

Here are a few of the latest newsworthy stories:

Folsom Lake College and Inductive Automation Launch New Student Mentorship Program

Folsom Lake College (FLC) recently announced a new mentorship program with business community partner Inductive Automation. The Folsom-based company is an industry innovator and global supplier of web-based industrial automation software that controls machinery, primarily manufacturing, quality control, and material handling processes.

FLC student applicants, including Business and Computer Science majors, will be selected later this spring and will undergo initial training before being paired one-on-one with Inductive Automation employees for the fall semester. Applicants will be selected based on their compatibility with mentors and potential to benefit from the program. The Inductive Automation Mentorship Program will give Folsom Lake College students a unique introduction to the professional work environment and the opportunity to foster meaningful business connections.

ThermoGenesis Raises $3 Million Through Private Stock Placement

After experiencing a growth in losses during the third quarter, ThermoGenesis Holdings, Inc. managed to raise $3 million through a private stock placement. The Rancho Cordova-based biotech company announced the placement closure, stating that the funds would be used as working capital and for general corporate purposes.

JPMorgan Chase & Co. to Acquire Aumni Inc.

JPMorgan Chase & Co. is set to acquire Aumni, a portfolio company of venture capital firm Moneta Ventures. The Salt Lake City-based Aumni Inc. had its first office above Moneta Ventures’ headquarters in Folsom!

Orchid App Places Second in Sacramento Kings Capitalize Contest

This year’s Sacramento Kings Capitalize Contest recently awarded Folsom-based App Orchid second place. The Capitalize Contest, a March Madness-style tournament for local startup companies, recognized three winners at a Kings home game on March 24. 

App Orchid uses artificial intelligence and machine learning to build apps for enterprise energy and utility customers quickly and easily.

Kudos to first place winner, Shared Vision of Rocklin, and Davis-based Ravata Solutions for winning third. It’s great to see so much innovation in our region.

Joe Gagliardi is the CEO of the Folsom Chamber of Commerce, Choose Folsom.