October 8, 2003  |  Imaginestics showcases ToolingNet communities at Techpoint Summit VI

Purdue Research Park, West Lafayette, Indiana, U.S.A - Imaginestics, software developer of knowledge-based systems for the manufacturing and life sciences industry, showcased two ToolingNet communities at Techpoint Summit VI, held on October 1, 2003 at the Indiana Convention Center in downtown Indianapolis. Techpoint Summit has become a premier annual technology event highlighting the achievement of Indiana technology companies and providing insight into the state's economic outlook. During the Summit, Imaginestics demonstrated two on-line communities for the metal-casting and plastics manufacturers. These two communities are scheduled to go live later this year with a handful of Indiana companies collaborating and working on-line. Some of the features of the on-line communities include finding an expert; sharing tips and tricks; using break-through technologies from Purdue in the metal-casting and plastics industries; offering on-line classes from Vincennes University, Tri-State University, Ivy Tech State College, and Purdue University; posting RFQs, on-line forums, and surveys; and subsidizing use of collaborative and product data management software tools, which would otherwise cost hundreds of thousands of dollars. The on-line community portals were well received by the attendees, who are anxious to begin using them.

"We have already gained tremendous benefit from ToolingNet. We had early access to innovative mold design technology from Purdue University, working closely with Purdue's PRECISE lab. This enabled us to apply the segmented mold approach to our designs and ultimately reduced our tooling cost by over 50%, thus allowing us to be competitive," said Sam Lombard, President of Indiana Precision Plastics.

The ToolingNet project was funded by the Indiana 21st Century Fund IV. Its purpose is to create a vibrant on-line collaborative marketplace for the Indiana tooling industry and to provide a medium for delivering the most current technologies and training developed by Indiana's leading educational institutions and technology companies so that the Indiana tooling industry can gain a competitive advantage.

About Imaginestics
Imaginestics is a privately-held software and services company founded in December 2002. It is emerging as the leader in knowledge-based systems for the manufacturing and life sciences industry. Imaginestics' mission is to unleash the power of existing engineering and manufacturing systems through an integrated product suite that taps companies' past and present knowledge and optimizes their future development. Imaginestics' product suite includes, i-compare, i-migrate, i-config, i-parts and i-advisor.