MELVILLE, N.Y., March 7, 2013 (GLOBE NEWSWIRE) -- FalconStor Software, Inc. (Nasdaq:FALC), a market leader in disk-based data protection, today announced that Barry Rubenstein, one of FalconStor's founders and current board member, has been awarded The Long Island Technology Hall of Fame Entrepreneur Award for his efforts in building Long Island as a technology business hub. Additionally, Rubenstein and other Long Island science and technology business leaders were inducted into The Long Island Technology Hall of Fame (LITHF) during the award ceremony last night. Rubenstein has made significant contributions to Long Island's business community, by serving as an advisor to, investing in and founding several local technology companies. LITHF, now in its 12th year, has a long-standing tradition of honoring the contributions of science and technology business leaders who have had or are having an impact on the region's economic development and commitment to the community. The awards committee selects nominated individuals according to intellectual acumen, lifetime achievement, overall impact on the advancement of science and technology and national prominence. "In awarding Long Island Technology Hall of Fame's Entrepreneur Award to Barry Rubenstein, the organization recognizes his exceptional talent and capabilities as an entrepreneur who will continue to benefit Long Island, now and in the future, as we position our region as a leading technology hub," said Adam Silvers, partner at Ruskin Moscou Faltischek and member of the Long Island Technology Hall of Fame Selection Committee. A general partner at Wheatley Partners, Rubenstein's long history of investing in and founding technology companies since 1969 signifies his commitment to building the Long Island business and technology community. He was a founder or founding consultant to several firms, including Applied Digital Systems, Inc.; FatWire Software; Novell, Inc.; Cheyenne Software, Inc.; Scan Source; and FalconStor Software. As a founder, past chairman and current board member of FalconStor, Rubenstein made a significant contribution to establishing the company's leadership in the data protection industry. Throughout his career, Rubenstein has provided ongoing support for the Long Island technology community, serving as a valued advisor and board member for a number of firms.