A new startup, DevelopOnline.com, claims to be the first Intel “incubated spin-off.” The Tempe, AZ startup announced today that it has received first round funding of $15M to develop a unique new website that will serve as a “product development accelerator.” Jim Kearns, VP of Business Development, says his company's web-based service is going to “significantly compress product development cycle time, by… lowering entry barriers for innovation and product creation.”

According to Kearns, the concept for the new web-based startup resulted from the efforts of a group of Intel employees in conjunction with researchers at the University of California Berkley and Harvard University. “Ten leading companies in the embedded industry contributed to the technologies used on our site,” says Kearns. “We are also working with multiple embedded industry component/technology suppliers, including several providers of embedded Linux,” adds Kearns.

The company is currently conducting beta trials and expects to launch its service publicly during Q3 of this year.

DevelopOnline.com CEO Alan Steinberg says his company's website “will enable its customers to build on existing electronic design platforms, thereby reducing the time a product takes from its initial concept on a paper napkin to full-scale production.” “In turn, innovators and new generation 'marketects' can introduce new products while significantly reducing the cost of innovation in terms of time and cash,” adds Steinberg. Although specific details about the services that be provided by DevelopOnline.com are being kept under tight wraps, Steinberg hints of his companies mission, saying “it?s about building on what already exists, and being able to truly focus on the passion of inventing.”

About DevelopOnline.com

DevelopOnline.com is a Tempe-based Intel spin-off designed to reduce the total cost of innovation by introducing foundational building blocks to the electronic design cycle over the Internet. By reducing design cycle time, DevelopOnline.com can help to accelerate time to market initiatives through an environment that fosters creativity among innovators and “marketects.” DevelopOnline.com employees 30 people and is presently conducting beta trials.

 
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