Schumer hopes to get LI companies' ideas to market

Some Long Island companies are in Death Valley and need help getting out. One such company is Balfour Technologies Llc, which is in the new Morrelly Homeland Security Center in Bethpage.

According to Sen. Charles Schumer (D-N.Y.), companies are in Death Valley when they have developed a product but don't have the financial means to bring it to market.

Schumer last week proposed legislation to provide funding for such companies. To be eligible, the companies would have had to have received federal research and development money. They would then be able to receive an equal amount to commercialize their product.

"They're too small for banks or even venture capital," Schumer said. "Yet, they need capital." The senator said he believes his proposal will win bipartisan support.

Scott Meyers, Balfour's chief operating officer, said Balfour's product -- a four dimensional browser that allows users to be aware of multiple pieces of information on a single screen -- has been field-tested and is ready to go to market.

Balfour received $750,000 in R&D funding. "What I would do [with additional funding] is go out and create some jobs," Meyers said. "I'd hire some tech people, some support people, some sales people.

"We're trying to raise capital. But it's not an easy market."