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. 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. The school said that the 24 spinouts of the school employ approximately 500 full time employees, with at least 267 of those jobs in Los Angeles.

Los Angeles-based Alelo , a USC spinout developing foreign language and culture training tools, said this week that it has opened an office in Suffolk, Virginia. Alelo's software uses computer gaming technology to help users learn languages and culture, and is being used by the military for training of troops being deployed to Iraq and Afghanistan, as well as elsewhere in the world. READ MORE>> ...Tags: The firm said the new office was opened to better serve government customers interested in its products. The new center is in the Virginia Model and Simulation

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 software--spun 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.