September 19, 2008 – XLerant was recognized as one of 100 technology “Companies to Watch” for 2008 at the second annual Innovation Pipeline Awards and Technology Showcase in front of over 350 guests at the Dolce Innovation Center.

The Connecticut Technology Council, the state’s industry association for the technology sector, annually recognizes companies at this event with sales under $10 million, an innovative product and a business model that demonstrates potential for future success.

Matthew Nemerson, the CTC President and CEO, notes “we look at hundreds of new ideas and start-ups every year and the companies recognized here are the ones we feel are not only the most exciting but have a real chance to become fast growing new firms.”

Awards are the result of a nomination and judging process that engages dozens of technology leaders from corporations such as Pitney Bowes, GE, UTC and Open Solutions and firms such as law firms Cantor Colburn, LLP, Edwards Angell Palmer and Dodge, LLP and accounting firm Fiondella, Milone, and Lasaracina.

“Being recognized along with all these other fantastic companies is a great honor,” said Lawrence Serven, President of XLerant. “Our focus since day one has been on improving the corporate budgeting and planning process. In today’s economic environment, it’s more important than ever for businesses to have a clear understanding of their true budgetary needs. This requires the participation and buy-in of all employees, not just those in Finance. XLerant makes the budgeting process one which is easy and enjoyable.”

About XLerant
XLerant was founded in 2004 by New Canaan resident Lawrence Serven and Greenwich resident Charles Pevsner and is located in Stamford, Conn. BudgetPak, the company’s initial product, was commercially released in December 2005. XLerant has in its pipeline a suite of additional applications whose development will be driven by business and market considerations.

About The Connecticut Technology Council
The Connecticut Technology Council is the State’s industry association for the technology sector. The Mission of the Connecticut Technology Council is to improve economic growth and a high quality of life for Connecticut by promoting a culture of innovation of community leaders in business and government. The Goal of the Connecticut Technology Council is to build a statewide network of innovators and entrepreneurs to educate and influence elected officials and policy leaders about the critical importance of technology innovation and growth in Connecticut.

About the Innovation Pipeline Accelerator
The IPA is for all CT companies with sales under $10 million, an innovative product and a scalable business model. Once accepted into the Innovation Pipeline Accelerator, all candidates are provided with: access to an interactive website that enables them to request services, communicate with an entrepreneurial community and track their progress; a secure corporate intranet for their exclusive use; connections with mentors and advisors with the intent of improving and accelerating the growth and success of these companies; and listing in a searchable public database that will be accessible to anyone looking for products or services from CT based companies.

Companies may remain in the program as long as the program adds value to their business and the company continues down the path towards success. Some of the more advanced IPA companies will be selected to receive extra assistance in the FastTrack Program that provides more personalized services.