Volume 8, Number 11, March 20,
This Week's Contents:
1) NEWS ABOUT NETPRENEUR
Early And Often
2) REGIONAL NETPRENEURS
Progeny's Linux Platform Manager
Cibernet's New Future
Round-up: Quick Hits
......news from TNS,
WorldCell, FileTek, and the AeA
3) FUNDING & FINANCE NEWS
......more than $18.7M for
5 local entrepreneurs
3.2 Life In
The Food Chain
MobileSpring Announce Merger
4) Opportunities & Resources
Apply For Capital Connection 2003 . . .
. . And For A Berth At A UK Incubator
about people at Paratek and GBTC
|||||||||||||||||||| 1. News About The Program
1.1 SELL EARLY AND OFTEN
How do you get serious consideration from corporate buyers for your
startup's product or service? What does it take to close the deal? Revenue
generation is the top topic for most entrepreneurs, but it's an uphill
battle when you're the new kid with an unproven solution. It is a unique
challenge they don't cover in the textbooks, but we'll tackle it at this
month's Coffee & DoughNets with a panel of people who've done it
successfully. "Early Stage Sales" is the subject next week,
Tuesday, March 25, coming to the Cineplex Odeon Tysons Fairfax Square in
Vienna, VA. The event is hosted by the Northern Virginia Technology
Council and sponsored by Comerica, Ernst & Young, and Fenwick &
West. Register now.
Register for C&D: http://netpreneur.org/events/doughnets
2. Regional Netpreneurs ||||||||||||||||||
2.1 PROGENY'S LINUX PLATFORM
(Washington, DC) Progeny introduced Linux Platform Manager, a Web-based
tool that simplifies the process of creating, testing, and maintaining a
custom Linux distribution. Progeny's Platform Services provides a
componentized, customizable Linux platform based on industry standards and
best practices. Both open source and commercial components are available,
serving small footprint to enterprise-sized distributions. The Linux
Platform Manager lets users assemble desired features, apply tested
security patches and other updates as the underlying components evolve,
and retain control over the feature set and timetable. Features include
security patch management facilities, version-control tools, and workflow
for development teams and auditing facilities.
2.2 CIBERNET'S NEW FUTURE
(Washington, DC) The Washington Post reports that Cibernet, a
clearinghouse used by the wireless industry to settle roaming fees and
other financial transactions between wireless companies, will be taken
over by a group that includes Mark Ein, Raul Fernandez, Jeong Kim, and
other local investors. Cibernet, which has been a for-profit division of
the Cellular Telecommunications & Internet Association (CTIA), will
become a launching pad for new technologies and will be moved to new
offices in Bethesda.
2.3 ROUND-UP: QUICK HITS
(Reston, VA) Transaction Network Services
(TNS) introduced TNS TransRoam, an SS7 signaling service that allows
wireless carriers to more cost effectively enable their customers to use
their cell phones while traveling internationally. The SCCP (Signaling
Connection Control Part) gateway service provides the necessary signaling
and number conversions to support international roaming for cell phones
using GSM technology.
(Silver Spring, MD) WorldCell
formed the WorldCell Roaming Service Bureau (RSB), Ltd, offering global
roaming to wireless operators and their subscribers. Through roaming
agreements around the world, the turnkey RSB solution is able to support a
variety of wireless standards and provide a mediation platform across
different wireless technologies.
(Rockville, MD) FileTek,
a data management software developer, announced the availability of two
solutions that are integrated with Centrera storage products from EMC.
They are StorHouse for EMC Centera and the StorHouse Appliance for EMC
(Washington, DC) A new study from the AeA
showed a decline of 560,000 high-tech jobs in the US over the two years
from January 2001 to December 2002. The study is based on monthly
employment data from the US Bureau of Labor Statistics. Tech employment
dropped from 5.7 million to 5.1 million jobs, including the communications
services industry which saw a 9% decline of 135,000 jobs lost. On the
positive side, software services increased by 5,300 jobs.
3. Funding & Finance News ||||||||||||||||||
3.1 DOUGH RAISE ME
$500K in a first round for DC-based Raedel
Financial Solutions, a provider of browser-based analytical
software tools. Washington Capital Partners (WCP), a DC-based early-stage
private equity firm, led the round. RFS's RelativeValuation product allows
users to analyze large amounts of publicly reported company data for uses
such as generating valuation models and providing peer group and
historical trend analyses. WCP placed three individuals on the RFS Board,
including Tidal McCoy, Chairman of WCP; William Murdy, Chairman and CEO of
Comfort Systems USA; and James Hunt, President, Cap Gemini Technologies.
for Herndon-based Surety, a provider
of data integrity solutions. The money comes from Zenerji LLC, which is
headed by Addison Fischer, an original investor in Surety. Focusing on
corporate governance, regulatory compliance, and IP protection, Surety's
AbsoluteProof Solution Suite automatically generates evidence of what
electronic records were created and when. The company also announced the
appointment of Tom Klaff as CEO. He was formerly Chairman, President, and
CEO of Reliacast.
in a Series A round for Fairfax-based Brickstream,
a provider of customer intelligence software solutions for retail
environments. The round was co-led by Columbia Capital and Mohr Davidow
Ventures. The Brickstream System is a software suite that leverages
in-store video technology and patented "image understanding"
software to automatically and anonymously track customer movement in a
brick-and-mortar environment. It then transforms the movement data into
actionable intelligence and delivers it in real-time to decision-makers.
Arun Gupta of Columbia and Mike Sheridan of Mohr Davidow join
in additional financing for Herndon-based NETSEC,
a provider of managed security services. The money comes from existing
investors Mobius Venture Capital and ArrowPath Venture Capital. Over the
past 12 months, NETSEC has experienced triple-digit revenue growth,
including expanding its customer base to include four of the Global 10
public companies. Separately, NETSEC also announced the appointment of
Glenn Hazard as Chairman and CEO. He was formerly a Senior Partner with
Zero-G, a technology consultancy, and continues as Managing Director of
the Zero-G venture capital fund.
An undisclosed round of additional
funding for Alexandria-based Lightningcast,
a provider of advertisement insertion technology for Internet
broadcasting. The money comes from existing investors Nokia Venture
Partners, Redleaf Group, and Birchmere Ventures. Lightningcast's solutions
place ads into existing content and online programming.
3.2 LIFE IN THE FOOD CHAIN
-- Ztango and MobileSpring Announce Merger
(Reston, VA) Ztango, a provider of wireless multimedia services, has
merged with MobileSpring, a provider of global messaging solutions. The
combined company will retain the Ztango name. Together, the two companies'
wireless messaging and multimedia solutions are used by carriers that
represent over 70% of the US wireless marketplace. The solutions include
Mobile Image, the leading wireless multimedia delivery service in the US,
and the Metcalf Global Messaging system, which handles nearly five million
inter-carrier messages per day.
(Vienna, VA) H-Quotient announced the acquisition of Fort Mill, SC-based
medical software company Intelliservices. The IntelliServices platform is
a suite of Web-based applications that support direct communication
between remote devices/healthcare technologies and clinicians. It includes
IntelliPhysician, a medical practice management system for clinics and
hospitals; IntelliHeart, which helps physicians follow up with patients
suffering from ailments that require ongoing cardiology care, such as
pacemaker patients; and IntelliSight, an ophthalmology application.
|||||||||||||||||| 4. Opportunities &
4.1 APPLY FOR CAPITAL
CONNECTION 2003 . . .
(Timonium, MD) Capital Connection is the Mid-Atlantic Venture
Association's (MAVA) annual venture fair, which will be held this year on
May 27-28 in Baltimore, MD, showcasing some 50 companies looking for seed,
early stage, or later stage growth financing from institutional venture
capital funds. East Coast companies in the IT, communications, biotech,
and life sciences areas are eligible, and there is no cost to apply. The
application deadline is April 1, but those who get their business plans in
before the March 24 Early Bird deadline will be invited to attend an
entrepreneur's reception on March 26 and have increased odds of being
included in multiple rounds of the selection process. Application forms
and background information are available online.
. . . AND FOR A BERTH AT A UK INCUBATOR
(Fairfax County, VA) The Fairfax County Economic Development Authority (FCEDA)
has joined with Invest.UK, the British government's economic development
agency, in a competition that encourages technology, telecom, and biotech
companies in the US and the UK to expand across the Atlantic. Entries for
"Touchdown 2003," the third annual competition, will be accepted
from April 2 to July 21, with winners announced in November. One winner
from the US will be awarded the choice of a UK incubator or science park
that best suits the company's international expansion plans. The final
package will likely include one year's free rent; management services; lab
space and equipment; access to support staff, facilities, and conference
rooms; and access to advice, skill sets, and a business network. A British
winner, which must be a biotech company, will get a free year in the
Fairfax County's BioAccelerator bioscience business incubator.
5. Who'sWare ||||||||||||||||||
(Columbia, MD) Paratek Microwave, a
provider of antennas for wireless networks, named James DiLorenzo as
President and CEO. He was President and CEO of Signal Technology, which
Paratek acquired in November of last year.
(Baltimore, MD) The Greater
Baltimore Technology Council (GBTC) named new members to its
Board of Directors. They are William Corey, Jr., Partner,
PricewaterhouseCoopers LLP; Thomas Cunningham, Chairman & CEO,
Alabanza/Bulkregister; Brian Darmody, Assistant VP, University of Maryland
College Park; Sean Kelly, Principal, RCM&D; Thomas McDonough,
President & COO, Sourcefire Network Security; Jenny Morgan, President
& CEO, VIPS; George Nemphos, Partner, Piper Rudnick LLP; Thomas Ockuly,
SVP and Founding Member, SES; Abba David Poliakoff, Partner, Gordon,
Feinblatt, Rothman, Hoffberger & Hollander, LLC; Lynn Schwartz, SVP of
Administration, TESSCO Technologies; and Ray Weiss, EVP & Managing
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