LIVERMORE, Calif., Nov. 29, 2012 /PRNewswire/ -- The Fannie and John Hertz Foundation Prize Committee has named John Stockton, PhD as recipient of the 2012 Peter Strauss Award. The $5000 award is given to an in-school or recently graduated Hertz Fellow who has demonstrated exceptional leadership in his or her entrepreneurial endeavors. Criteria used for the Award include major patents awarded, significant licensing agreements established, new company formation and national recognition for inventions.

"We are very pleased to acknowledge John Stockton with this Award," stated Dr. Jay Davis, Hertz Foundation President. "This young man embodies the entrepreneurial spirit we see in many of the Hertz Fellows. John has also demonstrated the innovative productivity that our nation today so badly needs."

Since receiving his PhD in physics from Caltech in 2006 and joining Stanford as a postdoc in 2007, Dr. Stockton has founded two companies. The first, Entanglement Technologies, won a 2010 Shell Corporation Game Changer award for pushing the frontier with its ultra-sensitive trace-gas detection hardware. The company employs six people delivering the advanced, vapor detection technology to a variety of customers, including the DoD.

Dr. Stockton's second company, quantiFind, is an algorithmic software-based analytical services company. Its customers include consumer products manufacturers, scientific publishers, movie studios and game makers. In a partnership with scientific publisher, Elsevier, the company provides the first paid-for application for the exploration of Elsevier's massive scientific database. Dr. Stockton is acting Chief Scientist for quantiFind, now employing 21 people.

Hertz Fellow, Louis Lerman made the nomination, supported by four other nominators, including Hertz Fellow, Andy Huibers, Stanford Professor Mark Kasevich, Stanford Law Professor Joseph Grundfest, and NSF Program Director Errol Akilic.

"Entanglement Technologies alone would be impressive," observed Dr. Huibers. " John's second startup, quantiFind, is inventing new technology in an area which is also evolving rapidly: the 'big data' field, the intelligent use of mass amounts of data that are coming online due to increased digitization of human affairs, coupled with 100X reductions in cost of storage and computing power during the past decade."

Dr. Huibers, who is Founder and Director of Bump Technologies, in further describing these entrepreneurial accomplishments said, "With the market a moving target, John and his team have adapted as well, at first focusing on scientific information, then pivoting to the consumer sector, recently providing predictive modeling for the movie industry to help them connect with audiences. I find the traction that they have in the media sector to be truly impressive."

The Hertz Foundation Board of Directors established the Peter Strauss Award in 2010 through the endowment of Harold Newman, Hertz Foundation Director and financial advisor. Newman was a long time associate of Peter Strauss, who died in 2010 at the age of 89.  Both were supporters of the Hertz Foundation for many decades, serving on its Board and as financial advisors to the Foundation while senior associates at Neuberger Berman.

"Harold Newman continues to be a great friend to the Hertz Foundation," continued Dr. Davis. "We are the happy recipients of his generosity and his valuable counsel as a Board Director. Harold is benefactor of the recently established Newman Entrepreneurial Initiative Grant as well. Any Hertz Fellow in good standing with the Foundation may propose a project for this Grant, with preference given to Fellows in school or in the early years of their careers. In like manner, Harold honors his long time associate with endowment of the Peter Strauss Award."

About the Hertz Foundation

Now celebrating its half-century milestone, the Fannie and John Hertz Foundation contributes to the scientific and engineering strength of this nation. The Hertz Fellowship, valued at a quarter million dollars, is considered to be the nation's most generous support for graduate education in the applied physical, biological and engineering sciences. The Hertz Foundation invests in young men and women whose good character and creative spirit have the power to change the world. Hertz Fellows are given the freedom to innovate in their doctoral research without university restrictions. Hertz Fellows are exposed to a Community, gathering regularly at annual workshops, bicoastal retreats and national symposia. Collaborating across disciplines, geography and generations, they inspire one another as they meet, play and engage. More information about the Hertz Foundation can be found at www.hertzfoundation.org.

SOURCE The Fannie and John Hertz Foundation