The University of Southern California is reporting today that spinouts out of the school have raised $148m in the last two calendar years (2008-2009), and that there are now at least 24 USC spinouts currently in business. USC also reported that it owns equity in 32 startups, though none of those startups were identified. Some of the more visible startups The school--which has been actively encouraging startup activity based on its research in recent years--said that 16 USC startups raised $148M, in a combination of new startup funding and additional rounds of financing for those companies.

Los Angeles-based Alelo , which develops computer software that uses video games to teach language and culture training for Iraqi and other languages, reported late Friday that it has received a contract from the U.S. Alelo said that the contract covers a system for teaching foreign language and culture which runs on iPhone and iPod devices. Alelo's Department of Defense for a handheld training system. The system--called Uku--is being used by the Marines for supplementing the firm's Dari and Pashto language learning systems.