Press Releases

Akademos Announces Launch of CoursePack Creator 2.0 at NACUBO 2014

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Redesigned web-based tool delivers savings for students, offers a variety of content choices for instructors.

Seattle, WA–Akademos, Inc. announced the release of its CoursePack Creator 2.0 tool today at NACUBO 2014.

“CoursePack Creator 2.0 is an enhanced web-based tool that makes it easier than ever for instructors to create cost-effective, custom compilations of academic material,” said John Squires, Chief Executive Officer of Akademos. “At Akademos, we are committed to developing forward-thinking solutions to improve the faculty textbook and course materials adoption process.”

Widely recognized as an alternative to traditional textbooks and class handouts, instructors in higher education have realized the benefits of adopting CoursePacks. “As a professor at Benedictine College, I know textbook affordability is a major concern for students, and CoursePacks certainly can provide a cheaper alternative,” said Andrew Jaeger, Assistant Professor of Philosophy at Benedictine College. ”Akademos’ new tool offers a simple way to compile collected readings from textbooks, journals, online sources or even my syllabi.  I’m eagerly looking forward to using the CoursePack Creator 2.0 tool to create content next semester.”

CoursePack Creator 2.0 will offer faculty and instructors a greater degree of control over their course materials. Features include, but are not limited to:

  • Ability to create custom cover art and designs
  • Easy to use drag-and-drop interface to organize chapters
  • Blending of both publisher and instructor created content
  • All copyrights and clearances handled by Akademos
  • Choice of print (black & white or color) or electronic formats
  • Low cost print-on-demand copies with no required minimum order size

To learn more about the CoursePack Creator tool and online bookstore service solutions for educational institutions, visit the Akademos website.

About Akademos

Akademos offers virtual bookstore services, eLearning solutions, and an innovative textbook marketplace to schools. Its comprehensive supply-chain solution and commitment to responsive personal service make Akademos a leader in providing affordable textbooks and digital learning tools for schools. Students can choose from new, used, rental, and eBook options while schools can reduce costs and increase operating efficiency. Faculty can search, discover, and adopt new texts using the Akademos Textbook Adoption Tool at http://www.adoption.akademos.com. Akademos delivers the right course materials, at affordable prices, on time. Learn more about Akademos’ direct-to-students ecommerce platform at http://www.textbookx.com and its offerings to partner schools at http://www.akademos.com.

 

John Jay College Chooses Online Bookstore to Reduce Costs and Improve Student Success

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John Jay College partners with Akademos, an online bookstore provider, to deliver low-cost materials to students.

Norwalk, CTAkademos, Inc., a leading provider of integrated online bookstores and marketplaces for educational institutions, announced today that the John Jay College of Criminal Justice (http://www.jjay.cuny.edu), a senior college of The City University of New York (CUNY), has joined its list of partner schools. John Jay’s new online bookstore will launch in summer 2014.

“At John Jay College, we’re committed to helping students transform their ideas into social action and leadership,” said Robert Pignatello, Senior Vice President and Chief Operating Officer of John Jay College. “We’ve always had a physical bookstore for our students, but we decided that now is the time to take a leadership role by launching a progressive, online bookstore. And Akademos is the clear choice to further our core values by delivering the low-cost materials to our students. We’re excited to be bringing this new service to our students this summer and thankful for the support we’ve had from the CUNY for helping us implement a simple and effective shopping experience through integration into the CUNYfirst student and faculty system.”

Like many institutions, John Jay has recognized that online shopping is a key part of the solution to bring students back to the school bookstore. The John Jay Online Bookstore, powered by Akademos, will deliver:

  • A time-tested, reliable marketplace: The Akademos marketplace provides service and value for students with a high degree of control for administrators. For over 10 years, the marketplace has been a trustworthy and competitive resource for buying textbooks.
  • A seamless student shopping experience: Accessible from any device, at any time, this Akademos technology gives students a personalized shopping experience and a simple way to select the new, used, rental, or eBook of their choice at significant discounts. Students may also apply financial aid funds toward their purchase.
  • Faculty resources: The Akademos Textbook Adoption Tool allows faculty to choose from over 2 million titles across 3,600 topics in an easy-to-compare format that includes an affordability index for each title. Plus, faculty can create customized, course-specific learning materials.

“We applaud John Jay for taking this important step to increase textbook affordability and welcome them to the Akademos network of schools,” said John Squires, Chief Executive Officer of Akademos. “We’re working with both John Jay College and CUNY to develop a terrific online shopping experience that will delight students with its ease of purchase and value. We believe the online bookstore will become a vital component of student success at John Jay College.”

To learn more about online bookstore service offerings for educational institutions, visit the Akademos website or sign up for the Akademos newsletter.

 

About John Jay College of Criminal Justice

An international leader in educating for justice, John Jay College of Criminal Justice of The City University of New York offers a rich liberal arts and professional studies curriculum to upwards of 15,000 undergraduate and graduate students from more than 135 nations. In teaching, scholarship and research, the College approaches justice as an applied art and science in service to society and as an ongoing conversation about fundamental human desires for fairness, equality and the rule of law. For more information, visit www.jjay.cuny.edu.

 

About Akademos

Akademos offers virtual bookstore services, eLearning solutions, and an innovative textbook marketplace to schools. Its comprehensive supply-chain solution and commitment to responsive personal service make Akademos a leader in providing affordable textbooks and digital learning tools for schools. Students can choose from new, used, rental, and eBook options while schools can reduce costs and increase operating efficiency. Faculty can search, discover, and adopt new texts using the Akademos Textbook Adoption Tool at http://www.adoption.akademos.com. Akademos delivers the right course materials, at affordable prices, on time. Learn more about Akademos’ direct-to-students ecommerce platform at http://www.textbookx.com and its offerings to partner schools at http://www.akademos.com.

 

Bridgewater College Moves Textbooks to Fully Online Bookstore

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Bridgewater College Partners with Akademos, an Online Bookstore Provider, to Increase Textbook Affordability

Norwalk, CT—Akademos, Inc., a leading provider of integrated online bookstores and marketplaces for educational institutions, announced today that Bridgewater College (www.Bridgewater.edu), an independent, private liberal arts college in Virginia, has joined its list of partner schools

“Bridgewater College values and promotes a student-centered approach to auxiliary services,” said Anne Keeler, vice president for finance. “We undertook a careful review of college bookstore providers and determined that the best way to serve our students in the future was to partner with Akademos, a fully online bookstore developed specifically to serve the needs of higher education institutions like ours. We believe Akademos stands apart for its service and its unique educational marketplace, which will significantly reduce the cost of learning materials for our students.”

Increasingly, private colleges like Bridgewater are recognizing that their institutions can develop an online shopping experience that brings students back to the college bookstore by providing service and value. At the same time, schools understand that it’s important to provide their faculty with innovative tools to select the best, low-cost instructional materials.

“We are thrilled to begin a partnership with Bridgewater College,” said John Squires, chief executive officer of Akademos. “Our platform leads to increased bookstore efficiencies and an improved overall shopping experience for students. We also believe that lowering the cost of course materials is essential to improve learning outcomes. We applaud Bridgewater for taking this important step to better serve its students.”

To learn more about online bookstore service offerings for educational institutions, visit the Akademos website or sign up for the Akademos newsletter.

 

About Bridgewater College

Bridgewater College is a private, four-year liberal arts college located in the central Shenandoah Valley of Virginia. Founded in 1880, it was the state’s first private, coeducational college. Today, Bridgewater College is home to approximately 1,800 undergraduate students.

 

About Akademos

Akademos offers virtual bookstore services, eLearning solutions, and an innovative textbook marketplace to schools. Its comprehensive supply-chain solution and commitment to responsive personal service make Akademos a leader in providing affordable textbooks and digital learning tools for schools. Students can choose from new, used, rental, and eBook options while schools can reduce costs and increase operating efficiency. Faculty can search, discover, and adopt new texts using the Akademos Textbook Adoption Tool at http://www.adoption.akademos.com. Akademos delivers the right course materials, at affordable prices, on time. Learn more about Akademos’ direct-to-students ecommerce platform at http://www.textbookx.com and its offerings to partner schools at http://www.akademos.com.

Charter Oak State College Partners with Akademos to Reduce Student Textbook Costs

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The Akademos Online Bookstore Service Provides a Natural Fit for the 100% Online Public College

Norwalk, CT—Akademos, Inc., a leading provider of integrated online bookstores and marketplaces for educational institutions, announced today that Charter Oak State College (www.CharterOak.edu), Connecticut’s public online college, has joined its list of partner schools. Charter Oak’s new Online Bookstore will launch in Summer 2014.

“Partnering with Akademos is a natural fit for us,” said Ed Klonoski, president of Charter Oak. “At Charter Oak we’re dedicated to helping working adults earn the degrees they need.  We offer accelerated courses and great value, all in a convenient online format.  Akademos is a leader in online bookstores, providing Charter Oak with an advanced platform to serve our widely dispersed faculty and student community. Most importantly, Akademos meets our institutional values by delivering the low-cost materials our students need to succeed.”

Charter Oak and Akademos will develop a seamless student shopping experience. The new Online Bookstore will provide students with quick and ready access to everything they need.  This Akademos technology provides students a simple way to select the new, used, rental, or eBook of their choice at significant discounts, while utilizing their financial aid funds for purchase.

“As an online-only institution, Charter Oak’s mission is to provide students with a more affordable education. This aligns perfectly with the values of Akademos,” said John Squires, chief executive officer of Akademos. “We are pleased that a leading online educational institution has recognized that our online bookstore is a perfect match for its needs. We look forward to working together in an effort to further decrease textbook costs and improve student outcomes for Charter Oak students in Connecticut and around the world.”

To learn more about online bookstore service offerings for educational institutions, visit the Akademos website or sign up for the Akademos newsletter.

 

About Charter Oak State College

Founded in 1973, Charter Oak State College (www.CharterOak.edu) is Connecticut’s only public online college, offering associate and bachelor’s degree completion programs in high-demand fields including Health Information Management, Health Care Administration, Business, Public Safety and Information Systems. Charter Oak students complete degrees through online courses and alternative approaches to earning credit. Charter Oak is accredited by the New England Association of Schools and Colleges and governed by Connecticut’s Board of Regents for Higher Education. The College was recently ranked #1 in Connecticut for affordability among accredited colleges in-state offering online degree programs by AffordableCollegesOnline.org.

 

About Akademos

Akademos offers virtual bookstore services, eLearning solutions, and an innovative textbook marketplace to schools. Its comprehensive supply-chain solution and commitment to responsive personal service make Akademos a leader in providing affordable textbooks and digital learning tools for schools. Students can choose from new, used, rental, and eBook options while schools can reduce costs and increase operating efficiency. Faculty can search, discover, and adopt new texts using the Akademos Textbook Adoption Tool at http://www.adoption.akademos.com. Akademos delivers the right course materials, at affordable prices, on time. Learn more about Akademos’ direct-to-students ecommerce platform at http://www.textbookx.com and its offerings to partner schools at http://www.akademos.com.

Akademos Names Robert Breunig Chief Financial Officer

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Financial executive with strong direct marketing experience to join growing team

Norwalk, CT — Today Akademos appointed Robert Breunig as Chief Financial Officer, strengthening its executive team and providing for the rapid expansion of its virtual bookstore business.

“Bob’s twenty-five years of experience, the last fifteen of which were spent as a financial executive within the Time Inc. organization, brings us expert financial oversight and operational support during a period of unprecedented growth,” said John Squires, Akademos CEO. “The addition of Bob to our management team will help us serve larger institutions like Davenport University and the City Colleges of Chicago. In addition, we’re eager to utilize his direct marketing expertise to help guide our customer outreach and product development plans.”

Breunig previously served as the executive vice president and CFO of the Synapse Group, Inc., a division of Time Inc. He worked for Synapse for over fifteen years, where he helped transform the business from a start-up to a strong middle-market company that is the largest provider of subscription marketing services to the magazine industry.

“This is a great opportunity for me to help Akademos make a difference in the cost of educating hundreds of thousands of students nationwide,” said Breunig. “I’m excited by the passion and strength of the Akademos team and I’m looking forward to bringing my experience to the company.”

Bob received his degree in business administration from Bucknell University in 1988 and is a Certified Public Accountant. He resides with his family in Shelton, Connecticut.

 

About Akademos
Akademos offers virtual bookstore services, eLearning solutions, and an innovative textbook marketplace to schools. Its comprehensive supply-chain solution and commitment to responsive personal service make Akademos a leader in providing affordable textbooks and digital learning tools for schools. Students can choose from new, used, rental, and eBook options while schools can reduce costs and increase operating efficiency. Faculty can search, discover, and adopt new texts using the Akademos Textbook Adoption Tool at http://www.adoption.akademos.com. Akademos delivers the right course materials, at affordable prices, on time. Learn more about Akademos’ direct-to-students ecommerce platform at http://www.textbookx.com and its offerings to partner schools at http://www.akademos.com.

New Survey Suggests Having a Textbook Affordability Program Lowers Textbook Costs and Increases Student and Faculty Satisfaction

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Akademos releases results of college president, provost, and chief academic officer survey on textbook affordability

Norwalk, CT — The latest survey from Akademos, a leading provider of integrated online bookstores and marketplaces for educational institutions, shows that having a textbook affordability program can help lower textbook costs and increase both student and faculty satisfaction with textbook prices. However, only 16% of respondents to the College President, Provost, and Chief Academic Officer Survey on Textbook Delivery and Bookstore Services stated they had a formal program in place to help faculty select high-quality, low-cost texts.

College administrators were in agreement that textbook prices do impact retention and persistence. Student and faculty satisfaction with textbook prices were reported as extremely low, with 81% of students and 44% of faculty estimated as dissatisfied. Survey respondents reported that one-third of students are shopping outside the school bookstore for textbooks.

Key findings

  •     Obstacles to reducing textbook prices included the following: publisher price increases, no one person or department being accountable, and faculty not considering price in selecting course materials. In further exploring faculty’s role in textbook affordability, respondents were split as to whether “academic freedom” poses a challenge to advising faculty on selecting high-quality, low-cost texts.
  •     Tactics that schools reported using to lower textbook costs included: creating a textbook affordability program or committee, consulting with students about textbook affordability, and moving or discussing moving the bookstore exclusively online.
  •     The survey recommends that those colleges and universities looking to improve the affordability of textbooks as well as customer satisfaction with the bookstore formalize a textbook affordability program. A best-practices audit on how to create a textbook affordability program is included in the white paper of the survey findings.
  •     Survey respondents also reported that, on average, 73% of faculty submit textbook adoptions on time. Timely submission of book lists to the bookstore is a key strategy for improving textbook affordability as students who shop earlier for course materials typically find better prices.
  •     The survey also asked presidents, provosts, and chief academic officers when they think digital texts or eBooks would reach mass adoption by students. A majority of respondents (64%) stated that eTextbooks would surpass a 50% adoption rate by students within five years.

“With the rising emphasis on college affordability and student debt, we’re pleased to see that those institutions that take up the question of textbook affordability are having a positive impact on both faculty and students,” said John Squires, CEO of Akademos. “We think that every college should be considering how to help faculty select high-quality, lower-cost teaching materials and look into the most efficient means to deliver those products to their students. Establishing a textbook affordability committee is a valuable first step in this commitment.”

To view a copy of the 2013 College President, Provost, and Chief Academic Officer Survey on Textbook Delivery and Bookstore Services, visit the Akademos resources page.

Akademos believes every student should have access to high-quality, low-cost textbooks. To learn more about online bookstore service offerings for educational institutions, visit the Akademos website.

 

About Akademos
Akademos offers virtual bookstore services, eLearning solutions, and an innovative textbook marketplace to schools. Its comprehensive supply-chain solution and commitment to responsive personal service make Akademos a leader in providing affordable textbooks and digital learning tools for schools. Students can choose from new, used, rental, and eBook options while schools can reduce costs and increase operating efficiency. Faculty can search, discover, and adopt new texts using the Akademos Textbook Adoption Tool at http://www.adoption.akademos.com. Akademos delivers the right course materials, at affordable prices, on time. Learn more about Akademos’ direct-to-students ecommerce platform at http://www.textbookx.com and its offerings to partner schools at http://www.akademos.com.

City Colleges of Chicago Takes an Innovative Step to Reduce Textbook Costs

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Largest Illinois Community College System chooses online bookstore provider Akademos to increase access to quality, low-cost textbooks and improve academic preparedness.

Norwalk, CT- City Colleges of Chicago (CCC), one of the largest community college systems in the U.S. and the largest in Illinois, has chosen Akademos as its online bookstore partner, launching Summer 2014 across seven Chicago campuses. Akademos, a 13-year-old integrated online bookstore services provider, is the leader in helping colleges and universities improve student access to high-quality, low-cost course materials via their TextbookX marketplace platform.

“Textbook prices have exploded during the last thirty years, rising faster than tuition and healthcare rates,”(1) CCC Chancellor Cheryl Hyman said. “With this new contract, we will bring significant relief to students in the form of new and more affordable textbook options and ensure [that] City Colleges continues to offer one of the best educational values in the region.”

With research showing that up to one in three U.S. college-level students are opting not to purchase required textbooks at all(2), colleges are seeking innovative ways to connect students to high-quality academic materials at affordable prices. Access to affordable course materials is particularly important to helping cost-conscious community college students complete their education. Additionally, with student debt skyrocketing, lowering the amount of financial aid applied toward textbooks helps reduce long-term student debt.

“We are pleased to welcome City Colleges of Chicago to the Akademos network of schools,” said John Squires, CEO of Akademos. “Colleges and universities responsible for educating a large number of enrolled students are increasingly seeing the need to reduce textbook costs in order to increase academic preparedness and completion rates. We applaud CCC’s decision and feel they are a great fit for Akademos.”

City Colleges of Chicago will utilize Akademos’ TextbookX platform. An integration with CCC’s course registration and financial aid systems will produce a customized, easy-to-use bookstore experience for students.

Akademos believes every student has the right to affordable, high-quality educational materials. Akademos’ full-service, online solution delivers cost savings on textbooks while providing administrators and faculty critical control over the textbook delivery process. To learn more about online bookstore services for educational institutions, visit the Akademos website.

About City Colleges of Chicago 
The City Colleges of Chicago (CCC) is the largest community college system in Illinois and one of the largest in the nation, with 5,500 faculty and staff serving 115,000 students annually at seven colleges and six satellite sites city-wide. CCC is in the midst of a Reinvention, a collaborative effort to review and revise programs and practices to ensure students leave CCC college- and career-ready. Its internationally-renowned College to Careers initiative partners with industry-leading companies to prepare Chicagoans for careers in growing fields.

The City Colleges of Chicago includes seven colleges: Richard J. Daley College, Kennedy-King College, Malcolm X College, Olive-Harvey College, Harry S Truman College, Harold Washington College, and Wilbur Wright College. The system also oversees the Washburne Culinary Institute, the French Pastry School, two restaurants, two cafes, a banquet facility, five Child Development Centers, the Center for Distance Learning, the Workforce Academy, the public broadcast station WYCC-TV Channel 20, and radio station WKKC-FM 89.3. For more information about City Colleges of Chicago, call (773) COLLEGE or visit http://www.ccc.edu.

About Akademos 
Akademos offers virtual bookstore services, eLearning solutions, and an innovative textbook marketplace to schools. Its comprehensive supply-chain solution and commitment to responsive personal service make Akademos a leader in providing affordable textbooks and digital learning tools for schools. Students are able to choose from new, used, rental, and eBook options while schools can reduce costs and increase operating efficiency. Faculty can search, discover, and adopt new texts using the Akademos Textbook Adoption Tool athttp://www.adoption.akademos.com. Akademos delivers the right course materials, at affordable prices, on time. Learn more about Akademos’ direct-to-students ecommerce platform at http://www.textbookx.com and its offerings to partner schools at http://www.akademos.com.

(1)- http://www.huffingtonpost.com/2013/01/04/college-textbook-prices-increase_n_2409153.html
(2)- National Survey on Student Engagement, November 2012

College Students Win Textbook Scholarships for Bringing Attention to Textbook Affordability

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Akademos / TextbookX awards 10 textbook scholarships in Facebook photo contest.

Norwalk, CT – Akademos, an education technology company offering bookstore services, has recognized ten students at colleges across the country for their creativity in this year’s Akademos / TextbookX Textbook Scholarship Contest. The first place winner, three runner up winners, and six honorable mention winners all received a textbook scholarship to apply towards course materials for Fall 2013.

Students were asked to upload a photo reflecting what textbook affordability means to them. They made it clear that more affordable textbooks will lower student debt, make an education more affordable, give them the opportunity to start a career, and provide them with more money to do the things they are passionate about. Winners were chosen based on the individuality and thought behind the words and the creativity of the photo.

The scholarship contest winners were announced to coincide with Textbook Affordability Week, a period of time TextbookX predicts is the best time to find low-cost textbooks. After most college Spring terms end and right before Fall term starts, the market is flooded with used books that students have sold back into circulation as part of textbook buy-back initiatives, increasing inventory and decreasing costs. College students who buy earlier in the summer are more likely to find a good deal on their textbooks. Textbook Affordability Week was designed to educate students about the benefits of shopping for textbooks early.

Akademos / TextbookX Textbook Scholarship winners are listed below:

  •     1st Place ($1000 Textbook Scholarship) – Jeannette Herrera, California State University – Channel Islands
  •     Runner Up ($250 Textbook Scholarship) – Matthew Cottam, Wake Forest University
  •     Runner Up ($250 Textbook Scholarship) – Sara Marker, Phillips Graduate Institute
  •     Runner Up ($250 Textbook Scholarship) – Brandi Dority, Denver Seminary

Our honorable mention winners, awarded with a $10 textbook scholarship, were:

  •     Honorable Mention – Paige Anna, University of Kansas
  •     Honorable Mention – Max Neale, Denver Seminary
  •     Honorable Mention – Emily Ware, Mississippi State University
  •     Honorable Mention – Adan Ortiz, Idaho State University
  •     Honorable Mention – Blair Dupre, Community Christian School
  •     Honorable Mention – Ferdinand Feola, Valley Forge Christian College Graduate School

All of the winners’ entries can be viewed here: http://textbookx.com/scholarship.

Akademos / TextbookX would like to thank all students for entering their Fall 2013 Textbook Scholarship Photo Contest. To stay updated on TextbookX Scholarships, like TextbookX on Facebook at https://www.facebook.com/textbookxdotcom.

 

About TextbookX
TextbookX is an educational e-commerce site dedicated to finding students the lowest price for their books. TextbookX offers new, used, eBook and rental options to customers nationwide from a variety of sellers on the TextbookX Marketplace. The average savings on marketplace books is 60% off list price. TextbookX also offers students a year-round buyback program where they earn up to two times more than standard buyback prices. Shop or sell books back today at http://textbookx.com.

About Akademos
Akademos offers virtual bookstore services, eLearning solutions, and an innovative textbook marketplace to schools. Its comprehensive supply-chain solution and commitment to responsive personal service make Akademos a leader in providing affordable textbooks and digital learning tools for schools. Students can choose from new, used, rental, and eBook options while schools can reduce costs and increase operating efficiency. Faculty can search, discover and adopt new texts using the Akademos Textbook Adoption Tool at http://www.adoption.akademos.com. Akademos delivers the right course materials, at affordable prices, on time. Learn more about Akademos’ direct-to-students ecommerce platform at http://www.textbookx.com and its offerings to partner schools at http://www.akademos.com.

Avidbank Provides $1,750,000 Working Capital Line of Credit to Akademos

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PALO ALTO, Calif.–(BUSINESS WIRE)–August 06, 2013–Avidbank Corporate Finance, a Division of Avidbank that specializes in technology and asset-based funding, has provided Akademos a $1,750,000 working capital line of credit.

Akademos, an education technology company founded in 1999 and located in Norwalk, Connecticut, is a full-service online bookstore and marketplace serving students and faculty at hundreds of educational institutions across the country. Their direct-to-student business, TextbookX.com, is an e-commerce bookstore, selling textbooks, bestsellers, and merchandise. They also partner with colleges, universities and private high schools to provide custom virtual bookstore services and eLearning solutions. Their offerings include an innovative textbook marketplace with access to third-party sellers where students can choose from new or used books, textbook rentals, eBooks and other digital materials to make their education more affordable. Schools are offered new choices in textbooks and media, and a better distribution system to ensure their students have the course materials they need for successful learning.

“I am delighted we were able to put this facility in place for Akademos, “said Avidbank Corporate Finance Executive Vice President, Mike Hansen. “They have built a quality team with extensive experience and insight into this business, and have grown at an impressive rate. We appreciate the opportunity to contribute to their continued success.”

“We are pleased to be working with Avidbank. They took the time to understand the nuances of our business and space to create financing that works for us,” stated John Squires, CEO and President of Akademos. “We are looking forward to a long-term relationship with them.”

About Avidbank

Avidbank Holdings, Inc. (OTCBB: AVBH), headquartered in Palo Alto, California, offers innovative financial solutions and services. We specialize in the following markets: commercial & industrial, corporate finance, asset-based lending, real estate construction and commercial real estate lending, and real estate bridge financing. Avidbank advances the success of our clients by providing them with financial opportunities and serving them as we wish to be served — with mutual effort, ingenuity and trust — creating long-term banking relationships.

 

 

 

Gov Malloy: Norwalk’s Akademos Will Expand, Create Jobs

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Hartford, CT– Governor Dannel P. Malloy today announced $400,000 in grants and loans to Norwalk-based Akademos, Inc. The funding, through the Department of Economic and Community Development (DECD), will help the online book seller expand its operations and hire seven additional employees.

“Supporting companies like Akademos is an important part of our overall strategy to grow jobs and accelerate our economy,” said Governor Malloy. “Small businesses make up well over 90 percent of Connecticut employers, so ensuring they are able to compete in a global marketplace is critical. Partnerships between state government and the private sector allow businesses and industry to grow, and most importantly, hire more staff.”

Akademos, an online retailer, offers services to students and faculty at hundreds of educational institutions across the country. DECD will provide a $100,000 grant and 10-year $300,000 loan at two percent interest to support the company’s Norwalk expansion and its plans to build new software services that lower the costs of textbooks and other educational material.

“Over the past two and half years, with programs like Small Business Express and the Manufacturing Assistance Act, we’ve assisted more than 800 small businesses,” said DECD Commissioner Catherine Smith.  “This kind of support is essential because helping small and midsized businesses grow will be the key to turning around the state’s decades-long lackluster performance in job creation.”

Akademos created the Textbook Adoption Tool, a free portal that helps faculty select the right textbooks based on quality, affordability, and faculty reviews. They also launched TextbookX, an e-commerce site that helps students find the lowest priced textbooks.

“This funding will allow us to expand faculty awareness and student access to lower-cost educational materials as well as enable us to continue to develop and introduce new textbook delivery options,” said John Squires, CEO of Akademos.

“Innovators like Steve Jobs have praised the synthesis of liberal arts and technology for its potential to open doors and transform people’s lives,” said Senator Bob Duff (D-Norwalk). “By using the internet to bring educational texts to universities and their students, Akademos embodies this idea. We are proud to have this kind of company in Norwalk, and I thank Governor Malloy for helping them to grow and add new employees.”

“I applaud the Governor and DECD for supporting small businesses like Akademos,” said State Representative Chris Perone (D-Norwalk), House Chair of the Commerce Committee. “Businesses that are helping children and schools alike should be receiving these types of grants, because we will see the results of this investment with better educated children and a stronger local economy.”

“I’m pleased that Akademos will be receiving a grant from the Manufacturing Assistance Program,” said State Representative Terrie Wood (R-Norwalk). “They have proven themselves to be an innovator in the industry of college textbooks and services and this will further support their growth.”

 

About Akademos

Akademos offers virtual bookstore services, eLearning solutions, and an innovative textbook marketplace to schools. Students can choose from new, used, rental, and eBook options while schools can reduce costs and increase operating efficiency.

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