SEVC Conference in Atlanta

The Southeast Venture Conference today announces the second round of companies selected to present at the upcoming conference scheduled for March 11-12th, 2009 at the Intercontinental Buckhead in Atlanta, Georgia. A total of 40 showcase companies from the southeast and mid-atlantic regions will be presenting to an audience representing over $60 billion in private equity capital.

The 40 presenting companies range from late stage pre-IPO firms to earlier stage high growth firms from a variety of technology industries. These showcase companies represent the drivers of the region’s technology economy and have collectively raised over half a billion in venture capital to date.

The second round of SEVC presenting companies include: 

• Altor BioScience - www.altorbioscience.com; Miramar Florida
• Clinipace – www.clinipace.com; Morrisville, NC
• CoalTek - www.coaltek.com; Tucker, GA
• CRE Loaded – www.creloaded.com;  Atlanta, GA
• Femasys - www.femasys.com; Suwanee, GA
• Gen2Media - www.gen2media.com; Orlando, FL
• LivingSocial – www.livingsocial.com; Washington, D.C.
• iContact – www.icontact.com; Durham, NC
• InnerOptic Technology – www.inneroptic.com; Hillsborough, NC
• Planar Energy - www.planarenergy.com; Orlando, FL
• Prenova – www.prenova.com; Atlanta, GA
• Purewire – www.purewire.com; Atlanta, GA
• OpenSpan – www.openspan.com; Alpharetta, GA
• Nitronex – www.nitronex.com; Durham, NC
• SciQuest – www.sciquest.com; Cary, NC
• Selah Technologies - www.selahtechnologies.com; Pendleton, SC
• Semprius – www.semprius.com; Durham, NC
• Spectrum K12 – www.spectrumk12.com; Towson, MD

Presenting companies from Florida, Georgia, Maryland, North Carolina, South Carolina, Tennessee, Virginia and Washington DC are all represented at SEVC 2009.

 

Showcase companies will present to a national audience of venture capitalists, private equity investors, angel investors, investment bankers and senior technology executives.  Currently, there is over $60 billion in investment capital represented by attending investors. 

 

The first round of previously announced presenting companies included: 

• Arxan - www.arxan.com; Bethesda, MD
• Aurora Flight Sciences - www.aurora.aero; Manassas, VA
• BroadSoft - www.broadsoft.com; Gaithersburg, MD
• Cernium - www.cernium.com; Reston, VA
• CivaTech Oncology - www.civatechoncology.com; RTP, NC 
• CodeRyte - www.coderyte.com; Bethesda, MD
• Energyware - www.energyware.com; Blacksburg, VA
• FTRANS - www.ftrans.net; Atlanta, GA
• GlobalLogic - www.globallogic.com; Vienna, VA
• iJet - www.ijet.com; Annapolis, MD
• KZO Innovations - www.kzoinnovations.com; Reston, VA
• LucidMedia - www.lucidmedia.com; Reston, VA
• NetWitness - www.netwitness.com; Herndon, VA
• Pathfinder Therapeutics - www.2pti.com; Nashville, TN
• ProstimRx - Hendersonville, TN
• SchoolDude - www.schooldude.com; Cary, NC
• SilkRoad - www.silkroad.com; Winston Salem, NC
• SkyCross - www.skycross.com; Viera, FL
• TerraGo Technologies - www.terragotech.com; Atlanta, GA
• Uloop - www.uloop.com; Nashville, TN

In addition to showcasing some of the most promising emerging technology firms in the southeast and mid-atlantic regions, the SEVC will feature dozens of prominent speakers such as venture capitalist heavyweight Tim Draper, founder and managing director of Draper Fisher Jurvetson; Rich Karlgaard, publisher of Forbes Magazine; Chip Perry, president and CEO of AutoTrader.com; Governor Robert Ehrlich, Jr. of Maryland and Robin Weiss, SVP of NYSE Euronext to name a few.

 

The SEVC is the premier event for entrepreneurs to connect with investment capital in the southeast, which boasts the highest venture capital backed return of any region in the US.

www.seventure.org

How Films and Video Game change the world

Event announcement from our friends at UNC

-Howie

Would you like to learn more about "How Films and Video Game change the world"?

E-ship club invites you to join this unique event and meet with entrepreneurs changing the world on Friday February 20.

Featuring Speakers:

Eric Calhoun, Carolina Film Entrepreneur

Will Tao, Hollywood Entrepreneur

Phaedra Boinodiris , IBM Video Game Intrepreneur

Please RSVP to Ornpaka_Vudhikosit@unc.edu<mailto:Ornpaka_Vudhikosit@unc.edu> by Sunday February 15, 2009

StartupNation Elevator Pitch Contest

We received an email for the following elevator pitch competition.

-Howie

Have a creative Business Plan?
In the StartupNation Elevator Pitch Contest, you submit a video or audio file up to two minutes in length in which you pitch your business and your need for investment dollars. Each of the 5 winners will be given an opportunity to present their business to the investors in a live, private, online presentation. The contest runs through the month of February.  
The contest is a good opportunity for business students to bypass the red tape and speak directly with early stage investors. Entries will be accepted through the month of February, but the earlier the better. For more information visit http://www.startupnation.com/elevator-pitch-2009

About the Duke Global Entrepreneurship Network

Wrote the following blurb about DukeGEN - thought it might be useful to post here as well.

For those of you that haven't joined or posted a question - check it out here: www.dukegen.com

-Howie

The Duke Global Entrepreneurship Network (DukeGEN) is an online network for Duke's community of entrepreneurs (both  alumni and students). Through DukeGEN, Duke entrepreneurs can both connect with other Duke entrepreneurs and get answers to their questions related to starting a company.

The goal of DukeGEN is "to be a sophisticated and active network that helps create debate, dialogue, and lucky encounters between Duke entrepreneurs."  Founded by Reid Lewis '84, Michael Cann '95, Jon Fjeld '90, and Howie Rhee '04, there is a small committed group of volunteers that are "providing the energy and coordination to encourage Duke entrepreneurs, around the globe, to connect and increase their chances of success."

Since DukeGEN was started in April of 2008, the group has successfully proven it's value to Duke's entrepreneurial community. Notably, DukeGEN now has over 700 members on LinkedIn (and about 90 on Facebook, and 188 members on the Google Group).  In addition, there are some good discussions going on (94 discussions on the Google Group, 26 on LinkedIn).  

Questions that have been posted on DukeGEN have ranged from "how to split equity between founders" to "whether the venture capital model is broken" to getting specific advice for starting companies in "wound care" and "apartment rentals".

All Duke alumni and students are welcome to join.  Go to www.dukeGEN.com for more information.

Summer at Highland - looks fantastic

http://www.hcp.com/summer/

I met with Michael Gaiss from Highland Capital Partners, a successful VC up in Boston.  They have quite a neat program for both potential interns, and for startups that are seeking a great summer "mentorship" or "incubator" experience.

Below is the info about Summer@Highland which is the experience for entrepreneurs.  It's pretty competitive to get in.

-Howie

Summer@Highland 2009

Are you a student entrepreneur with a business startup that you’d like to rapidly accelerate this summer? If so, the Summer@Highland 2009 program may be just what you need.

 

In its third year, Summer@Highland is an innovative program designed to provide selected student/university-affiliated entrepreneurs with the environment and resources for advancing their startup initiative/company to the next level. Participating entrepreneurs/teams will receive a financial stipend and complimentary work space in either our Lexington, Massachusetts or Menlo Park, California office. The teams will have access to Highland investment professionals along with further resources for injecting real-world advice, insight and perspectives into the entrepreneurial and company-building process.

 

We are accepting applications for consideration in this year’s program through April 9, 2009. If you’re involved with a high-potential startup, we encourage you to consider applying.

 

What we’re looking for in 2009

 

We are especially interested in having you spend the summer with us if:

• You have a leadership team with vision, passion, and drive

• Your initiative is built around a breakthrough idea that is scalable and monetizable

• You’re pursuing a large addressable market opportunity with a product/service that has the potential to be highly-disruptive in its area

• Your business initiative is already showing momentum and (ideally) some demonstrable market traction (i.e., you’re well beyond concept)

• You’re operating in a sector that we focus on – information and communication technology, digital media, life sciences, advanced materials & semiconductors, cleantech

• You can direct us to some advisors who see your business’s potential as you do

 

Particulars of Summer@Highland 2009

 

1. The program is open to current undergraduate or graduate students, post graduate docs, as well as recent grads (December 2008 or later). At least one participating member of the team must meet this criterion.

2. Teams can comprise 1 to 4 persons.

3. A single person team will receive a $7,500 stipend for the summer, if selected.

4. A multi-person team will receive a $15,000 stipend, if selected.

5. Participating teams are required to work full time for a minimum 10 weeks on their initiative. Start and end dates are flexible and are to span the period of mid-May through September 2009.

6. Participating teams will need to reside in one of Highland’s offices (Lexington, MA or Menlo Park, CA) while participating in the program.

7. Each participating team will have a Highland sponsor who will be the team’s gateway to advice and counsel from Highland’s investors and industry network.

8. Participating teams in the core Summer@Highland 2009 program are under no obligation to Highland after the summer. Further terms and conditions may apply for initiatives that qualify for and are interested in pursuing seed financing and/or additional involvement by the Highland team.

 

How to apply

 

1. Please complete the brief online application (available atwww.hcp.com/summer)

2. Attach to your application (1) resumes/bios for each team member, and (2) up to two referrals/letters of recommendation (recommended). The latter may be from faculty & administration, board or advisory group members, or others affiliated with close knowledge of your initiative and/or team members.

3. You may also consider optionally attaching (1) executive summary of your initiative/company, and/or (2) a link to a 1-2 minute overview / elevator pitch video via YouTube, Vimeo, etc.

4. The deadline to submit all materials associated with an application is end of day Thursday, April 9, 2009. 

5. The application deadline for consideration in the 2009 program is Thursday, April 9, 2009.

6. Selected projects will be notified via email no later than May 1, 2009.

 

Please direct any questions regarding the program tosummer@hcp.com and we will do our best to address them.

U Ventures in NYC and Sweden

We received the following email

"I am contacting you regarding the internship that U Ventures is offering. It is a yearly internship for entrepreneurial students at the world's top universities, where the interns get the opportunity to set up a company from scratch and get funding for it. This year - despite the economic turmoil - we are making it bigger and better than ever, recruiting from some 15-20 countries. I would like to know how I can reach out to members of your club, as I am sure we will be able to find good candidates within it I would appreciate if you could get back to me so that we can discuss this further. Please distribute it as you see fit.

Many thanks.

Best regards,

Johan Bergström

U Ventures

Jakobsbergsgatan 22
103 86 Stockholm
Sweden

Cell: +46-70 23 17 747
Mail: johan.bergstrom@uventures.se
www.uventures.se"

---More info below.  Apologies for the funny formatting and grammatical errors.  Copying over from the PDF file proved unreliable.

-Howie

U VENTURES BUSINESS

START‐UP INTERNSHIP

UVENTURES.SE

Venture development internship

U Ventures is giving you a unique opportunity to get high‐level leadership experience in

combina:on with venture development work in the summer of 2009. As one of five Managing

Directors, you will be leading the work of an intern group, managing 20 under‐graduate top

students from over 10 different countries, during July‐August 2009, in a venture start‐up project.

Your task is to make this diverse group of talented students work as a team and produce a

business plan for a new venture, depar:ng from a pre‐defined business idea iden:fied by U

Ventures. However, it is up to you and the team to work out the structure of the company and

turn it into a solid concept with high business poten:al. U Ventures will provide seed capital if

the business plan meets our requirements. All along the internship, you will be supported by the

management team of U Ventures, to which you also will report on a regular basis. You will as

well be part of the group that sets the outline of the internship, giving you the possibility to

shape the schedule and scope of the internship. In short, this is a chance to form, manage and

execute a venture development project, leading a mul:cultural team of 20 interns, guided by

your visions and goals.

You will work from our offices either in New York City, USA or Stockholm, Sweden, star:ng July

1, 2009 with a dura:on of 4‐8 weeks. Your tasks will range from market analysis to building

business plans. Financial compensa:on will be provided.

Qualifications

You are an entrepreneurial achiever and doer. You have already proven yourself as a leader and

are looking forward to gaining further leadership experiences on your way to the top. You are

well organized, have the ability to think on your feet and adapt to changing situa:ons. You also

have a strong interest in entrepreneurial ac:vi:es and have demonstrated crea:ve

entrepreneurial skills in previous engagements.

Apply now

Send in your resume and a short cover leTer describing one or two of your entrepreneurial

experiences to careers@uventures.se before March 6, 2009. Please also indicate where you

would prefer to work. Early applica:ons are encouraged as recrui:ng is done on an on‐going

basis. Successful candidates will be called for interviews and also asked to solve a real business

case.

About U Ventures

The main focus of U Ventures is on Venture Start‐up & Development. Our por[olio consists of

companies in a wide range of industries. We are represented on five con:nents through

associated companies, joint ventures or fully owned companies. We are constantly searching for

new business ideas and for the right people to make them happen.

Getting Ready for Capital workshop

My Fuqua classmate, Jessica Thomas '04, is hosting the following event at UNC.

The Center for Sustainable Enterprise at UNC's Kenan-Flagler Business
School, Hutchison Law Group , and SJF Advisory Services are pleased to
invite you to a Getting Ready for Capital workshop for sustainable
entrepreneurs.

Date: Thursday, February 19, 2009, 4:30 - 8:30pm
Location: UNC Chapel Hill, Kenan-Flagler Business School
Registration: FREE for BASE members, $55 for non-members 

Getting Ready for Capital is a program of UNC's Business Accelerator
for Sustainable Entrepreneurship (BASE)

Getting Ready for Capital will help answer: 
· What types of investments are available?
· What are investors looking for?
· What are the benefits and challenges of different types of investments?
· Is my company ready for capital investment?
· How do I prepare my company to attract investors?

Workshop will include:
- Keynote: Jim Dean, Dean of the Kenan-Flagler Business School 
- Lecture: Overview of the Capital Spectrum from Rick Larson, Director
of Sustainable Ventures, The Conservation Fund 
- Investors' Panel: Preparing your Company for Capital with panelists
from SJF Ventures, Square 1 Bank, Bank of America, and Investors' Circle
- Entrepreneurs' Panel: Life after the Check with panelists from
Immaculate Baking, MegaWatt Solar, Sencera, and Greenbridge Developments
- Networking Reception

More information: http://www.kenan-flagler.unc.edu/KI/cse/BASE/events/capitalWorkshop.cfm

Registration: http://cfx.research.unc.edu/res_classreg/browse_single.cfm?New=1&event_id=21901

Contact: Jessica Thomas, jessica_thomas@unc.edu, 919-962-4259

2009 National Security Innovation Competition

We received the following email for the National Security Innovation Competition.

-Howie

Time is drawing short for interested collegiate teams to submit their “Intent to Compete” forms for the 2009 National Security Innovation Competition. The form and competition guidelines can be accessed at http://www.coloradohda.org/index.php?p=nsic2009 . The Round 1 entry is due by February 25, so there is still time to encourage a team from your school. The quality of competition has been high in past years, and we expect it to be even higher this year as we have expanded the scope of invitees.

Our chief judge will again be a senior technology manager from the Department of Homeland Security Office of the Undersecretary for Science and Technology. Other judges will represent senior technologists from leading companies with a keen interest in innovative technology to support national security. This is an excellent opportunity for the technologies developed at your school to gain broad exposure to senior government and industry “technology scouts”.

Our staff will be calling in the next few weeks to answer any remaining questions you may have and confirm that we have appropriate contact points for your school. Please pass this information on to your faculty which may be working qualified research projects with students. Feel free to have faculty call me directly with questions.

Roger Neeland

**Roger P. Neeland, Ph.D., PMP **

**Competition Director***
**National Security Innovation Competition***

**Phone 719-685-7877 ext 119**

**Cell 719-963-8261**

**www.ColoradoHDA.org** <http://www.ColoradoHDA.org>

Senior Analyst/Associate*, PureTech Ventures

We received the following note:

"PureTech Ventures is a Venture Capital firm in Boston, focusing in the Life Sciences.  We are currently looking to fill a position for a Senior Analyst. 

Please have applicants send cover letter and resume to careers@puretechventures.com."

-Howie

Senior Analyst/Associate^*, PureTech Ventures

 

Company overview:

PureTech Ventures creates and funds ground-breaking life science companies with a focus on pre-clinical and early clinical stage therapeutics, medical devices and research tools.  PureTech’s team collectively has hundreds of years of experience, has created billions of dollars in value and has developed some of the most important drugs of the last twenty years. After sourcing best-in-class technology for a company, PureTech runs the company while assembling permanent management, establishing the required infrastructure and driving clinical, intellectual property and business strategy development.  

 

Job Description:

The Senior Analyst/Associate^* will support PureTech’s portfolio companies and team members, as well as conduct sourcing and due diligence of early stage life science deals.  This includes:

 

• Driving venture creation activities and operations for portfolio companies
• Structuring and executing scientific and market opportunity analyses
• Crafting and developing business plans and presentations
• Managing project plans and timelines
• Sourcing opportunities and conducting due diligence on potential deals
• Participating in deal negotiations

 

Qualifications:

• Graduate degree in life sciences from a top-tier institution required (MD or PhD)
• Business experience in a life science related company preferred, but not required  
• Strong presentation and communication skills; candidate should feel comfortable presenting to groups
• Excellent quantitative analysis and research skills
• Entrepreneurial and self-motivated work style

The position is full time with a competitive salary and benefits.  This is a unique opportunity to join one of the most innovative companies in the venture/life sciences space while getting hands-on startup experience in our portfolio companies.  Please send a cover letter and your resume/CV to careers@puretechventures.com.  Please mention the job title in your correspondence.  For more information on us, please visit www.puretechventures.com.

 

*Title to be determined based on experience

Last Chance Reminder to Sign-up for Fuqua Planapalooza

The Fuqua Planapalooza business plan review series gives you an opportunity to review business plans of North Carolina start-ups.  In conjunction with the CEI, EVCC, and NC IDEA, you choose what business you're interested in including: 
- Biotechnology & Medical Devices 
- Greentech/Clean Tech 
- IT Software & Wireless IT System 
- ... and a range of other industries and applications. 
 
The Fuqua Plananpalooza will take place on Wednesday, February 11 from 9 am -1 pm including an informal networking lunch with local entrepreneurs and some of the team at NC IDEA.  Additionally, we will host a VC Crash Course with Jeff Boardman of learnvc.com, next Tuesday (February 3) from 6:30-7:30 pm. 
 
Teams of students will be assigned a few business plans in their chosen industry area and asked to make recommendations on their viability.  This feedback will be the basis for anyone interested in working with the start-ups on later application rounds or possibly in a longer-term relationship with the entrepreneur.   
 
Please sign up by Sunday, Feb 1. 
http://duke.qualtrics.com/SE?SID=SV_38eVByQ8x1FgxEM&SVID=Prod 
 

Contact Chris DeFilippo if you have any questions or check out the website for more details. 
https://sites.google.com/a/fuqua.duke.edu/evcc/Home/events/business-plan-review-series

Register for CED's FastTrac TechVenture

The Council for Entrepreneurial Development is recruiting entrepreneurs into their FastTrac program.  It's about 10 weeks long, and you get great information about starting a company. It's a really helpful program, though I'm a bit biased since I was in charge of it for a couple of years.   Info below.

-Howie

Are you or someone you know looking to start a company? Register now for FastTrac® TechVenture™, a nationally recognized entrepreneurial training program that offers technology and life science entrepreneurs the tools needed to start or refine their business venture.

This 10-week program combines one-on-one coaching, comprehensive learning tools and expert speakers to help refine your business plan, executive summary and investor pitch.

CED’s FastTrac® TechVenture™: Take Charge of Your Business 
Dates: February 3 – April 14, 2009 (Tuesday evenings, dinner included) 
Time: 5:30 to 9:00 p.m.
Location: CED Entrepreneurship Center, Suite 106, RTP, NC - Directions
Fees: CED Members $595; Non Members $695
Deadline to apply: January 23, 2009 - visit www.cednc.org/fasttrac to apply today.

LearnVC.com

I recently met Jeff Boardman over at LearnVC.com  I think their concept is neat - basically they're trying to help non-VCs learn about Venture Capital.

Check it out - www.learnVC.com

-Howie

Learn about Search Funds

Search Funds are a neat mechanism for being an entrepreneur.  I saw a panel about them out at Stanford last year.  Basically you raise money, buy a firm, turn it around, then possibly sell it.

We were contact about a website dedicated to the search fund community.  MBA students take note.

-Howie

Jennifer Stapleton recently wrote: 

"One of our recent search fund clients has just launched what I believe is the first website dedicated solely to the search fund community: http://searchfunds.com.   This will be another great resource for students interested in search funds."

Invite to Wake Forest's Elevator Competition

I received an email from our friends at Wake Forest for their Elevator Competition.  You actually pitch while going up an elevator.  Duke's own Daniel Egger was involved in this competition for quite a while. 

If interested in competing, contact them directly.

-Howie

"I hope the start of 2009 is proceeding well and that it continues that way.  At Wake Forest we are planning for a great business plan competition, our 10^th Anniversary.  Time with friends goes very quickly.

 

Stan and I are hoping that a team from Duke will register this year for our elevator competition.  

There are some details below; please let me know if I can provide any additional insight.

 

The Elevator Competition (TEC 2009): 

Moving to New Heights

 

q     MBA Business Plan Competition.  TEC 2009 is in its 10^th year.  It is consistently one of the best in the nation with $85,000 in cash/prizes to the winner.  This year we are opening it to all college students regardless of classification.  (Our entry to Moot Corp will be the highest ranking business plan led by an MBA.)

q     Social ENT Business Plan Competition.  Last year we opened a new bank of elevators for those of you with programs that generate interesting business plans in the social arena.  This is open to all college level students regardless of program.

Þ   We have reorganized into four “power alleys;” compete in alternative energy, life sciences, social entrepreneurship, and technology.

q     $85,000 in Awards.  The total package is among the largest of any competition. 

Þ   What to do now?  Go to www.elevatorcompetition.com  

o       Click on “Intent to Compete Form” and complete the requested items. 

o       When you are ready to complete your registration, return to the same web site and à Click on “Submit Executive Summary for Business Plan.”  Complete the items requested and upload your executive summary. 

 

I hope you will have both a traditional and social entry.  The experience is always great, and we would welcome your participation"

Raise funds for your Duke startup here

Hi everyone, 

Do you have an idea for a great startup? Are you trying to raise funds for your startup? 

I'm working with an alumnus that has had a couple of successful exits and is now looking to invest in Duke entrepreneurs. He is working with a couple of friends and they have agreed to look at a few opportunities. 

So we've created the following simple form. If you're interested, please fill the form out. 

http://spreadsheets.google.com/viewform?hl=en&formkey=cHBzeVlyYlRmSlFyMGR5RkxjY2djVGc6MA .. 

-Howie

Check out the upcoming Grand Challenges Summit

I received the following email.  It seems like a pretty star packed group.  In addition to Charles Vest, formerly president of MIT, and Steven Chu (incoming Secretary of Energy for President Obama), there is also Tom Byers of Stanford University (Panel at 3:15pm, March 2nd).    Worth checking out the program.

http://summit-grand-challenges.pratt.duke.edu/summit-program

Howie

"I am writing regarding an upcoming event which I feel sure will be of interest you.  It is the *Summit on the National Academy of Engineering Grand Challenges to be held at the Durham Performing Arts Center on March 1-3 (receptions will be held at the Marriott Convention Center and the Washington Duke Hotel & Golf Club).

 

Please see the link below for a detailed program for this event.

http://summit-grand-challenges.pratt.duke.edu/

 

This event is being hosted by Duke, USC Viterbi School of Engineering and Olin College and supported by the National Academy of Engineering.  It is sponsored by Duke Energy, Ewing Marion Kauffman Foundation, Duke Energy, RTI International and others.

 

Dr. Steven Chu, Nobel Laureate (1997 in Physics) and Dr. Moira Gunn, Host of Tech Nation and BioTech Nation will be speaking along with Dr. Charles Vest, president of the National Academy of Engineering and more.

 

If you'd like further information regarding this event please feel free to contact me via reply email, Kathy Kay at kathy.kay@duke.edu or Deborah Hill at deborah.hill@duke.edu."

Apply for Shotput Ventures for the summer

Duke alumnus, David Cummings, contacted me about Shotput Ventures, which hopes to launch startups during the summer.  Below is more information.

David has two successful comanies, Hannon Hill, and Pardot.  

-Howie

Shotput Ventures, a technology startup accelerator fund, will launch a three-month program this summer to give entrepreneurs a shot at converting passion into profit.

The group, which includes MFG.com’s Mitch Free, will invest up to $250,000 in eight to 10 potential companies. The deals will be small -- $5,000 per team and $5,000 per founder -- and focused on what the eight partners know well: capital-light, Web companies.

The concept is to help people with ideas, who might not have access to a small amount of money needed to get the idea off the ground, Shotput partner and architect David Cummings said.

“You have an idea and you can put 110 percent into it for three months, build something [and] prove it,” he said. “After three months you’ll have something tangible, you’ll have some beta customers.”

Cummings likens the selection process to applying to grad school.

“We are really trying to understand the person, what they want to do, why they want to do it,” he said. “The talent, and the ambition is much more important than already having something done.”

During the summer, the entrepreneurs will get mentoring from Shotput partners and access to veteran entrepreneurs, bankers and investors at weekly dinners. For the final exam, the class must pitch to the money men -- VCs and angels.

Cummings expects about a third of the class to walk away with institutional money and another third to bootstrap their way forward.

Investing in companies is riskier business, investing in mere ideas can be financial suicide. Shotput hopes to burn some of the risk by betting only on those sectors its partners are familiar with -- social networking applications, business-to-business marketplaces, e-commerce and marketing automation.

“If we don’t understand the idea or the space,” Cummings said, “we’re not going to [invest in it.]”

Making the right deals defines the success of any venture fund, said Mike Blake, managing director at valuation firm Adams Capital and co-founder of StartupLounge.

“It’s really tough to overcome a mediocre deal,” he said

For its effort and money, Shotput will get 5 percent to 10 percent in common stock in its portfolio companies.

“If we get five-times our money back,” Cummings said, “we’ll have done extremely well.”

Shotput Ventures addresses an unmet need for seed stage capital, said Greg Foster, partner at Atlanta-based Noro-Moseley Partners. Foster, however, suggested it might be difficult for Shotput to make a significant return given the relatively small stakes.

“It’s also more difficult for common shareholders to achiever a higher return multiple on their investment,” he said. “The [portfolio] company would have to be really successful to the degree that common shareholders receive a significant benefit.”

Regardless, Atlanta’s tech investors will be watching the Shotput model. By helping transform ideas into companies, Shotput creates future investment opportunities for the guys higher up the food-chain.

That, in the end, could be the legacy of the Shotput boys.

Job site for a successful search

One alum in Silicon Valley reported success using the following site to land a job at a startup.

http://ventureloop.com/ventureloop/home.php

-Howie

Student help needed

Here at the Center for Entrepreneurship and Innovation, we have a need for a student to help out with various office-oriented tasks - updating spreadsheets, postering around campus, doing some research online, organizing pictures on flickr, putting together some documents, etc...

We have 3-5 hours a week of work.

Looking for a student to help out.

More about our Center is at www.fuqua.duke.edu/centers/cei

We also put together

www.eweekatduke.com

www.dukedees.com

www.dukegen.com

www.howierhee.blogspot.com

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Money for startups - apply to the NC IDEA Grants Program

This is run by our friends at NC IDEA.  If you have a startup idea, and are looking for money, it's worth your while to investigate this.

-Howie

NC IDEA Grants Program

The NC IDEA (North Carolina Innovative Development for Economic Advancement) Grants Program provides funding for start-up technology firms headquartered in NC to fill the gap between government and private equity support.  Following a mission of job creation through commercialization of technology innovation, NC IDEA implements the Grants Program for companies in the fields of Information Technology, Medical Devices, Material Sciences, and Green Technologies. 

 

The initial “pre-proposal” application process opens Friday, January 9th and pre-proposals must be submitted online by Friday, January 30th. Approximately 20 companies submitting “pre-proposal” submissions will be selected to participate in a subsequent full proposal submission and review period. This process will include submission of a more comprehensive proposal and prioritized budget for use of grant proceeds. The comprehensive proposal submission period will end in mid March. A final round of applicant companies will be selected to present their proposal to a NC IDEA Grants Program advisory committee comprised of entrepreneurs and early-stage business advisors. Grant recipients will be notified in May.

 

Please visit the website for more information and eligibility details: http://www.ncidea.org/index.asp?mid=4.

 

 

About NC IDEA

NC IDEA provides grants, loans and traditional venture capital to help young companies between seed funding and Series A financing. The non-profit company further supports these companies by leveraging strategic partnerships and alliances to help companies through research phases, business challenges and growth goals. NC IDEA is committed to supporting North Carolina’s economic development by ensuring young, innovative companies grow, create jobs and become contributing business leaders. For more information, visit www.ncidea.org.

WEC25 - Wharton Business Plan Competition

Attention entrepreneurs:

You are invited you to apply now to showcase your business at the

"WEC25 Startup Expo,"

which will be part of the 12^th annual Wharton Entrepreneurship Conference,

Friday, February 13^th, 2009 in Philadelphia.

 

What is the WEC25 Startup Expo?

The WEC25 Expo is a unique opportunity to present your entrepreneurial venture to a vast network of VCs and entrepreneurs. 

The WEC25 Expo will be composed of 25 of the most promising startups, which will each be given their own table to exhibit their business all day alongside the annual Wharton Entrepreneurship Conference. The WEC25 companies will gain incredible exposure to our 500+ guests, including leading venture capital investors, MBA students from The Wharton School and other Penn Graduate students (e.g., Engineering and Medicine), and industry professionals from the greater Philadelphia entrepreneurship ecosystem.

Our judges (leading VCs and Wharton professors) will select the ten most promising businesses from among the WEC25, who will be awarded the opportunity to give a live pitch to a group of leading VCs.

The winning company will receive:

-          A private meeting with a top venture capital fund

-          Premium versions of Microsoft Office 2007 ($600+ value)

-          Cash

To apply:

Go to http://wec2009.com/expo 

1. Today – Submit the "Preliminary Submission – Basic Contact Info".  This should take only 15 seconds. We'll use this info to keep you informed about the WEC25 between now and conference day.
2. By the application deadline, Monday, January 12 (11:59pm ET)
1. Complete and submit the "Expo Application Form".
2. Upload your business plan.

You should apply if:

-          You are anyone with a startup business.

-          Your business could benefit from exposure and/or funding and/or networking.

-          Your business is in any stage of growth/funding, from unfunded through series C.

-          Your business is in any industry, including:

o   Web services / e-commerce

o   Energy / clean technology

o   Wireless / telecom

o   Healthcare / life sciences

o   Retail

o   Business-to-business

o   Consumer goods

o   … or anything else not mentioned here – all are welcome.

The benefits being selected to the WEC25:

-          Unique opportunity to present your entrepreneurial venture to a vast network of VCs and entrepreneurs, including:

o   Draper Fisher Jurvetson

o   Highland Capital

-          Top ten companies will be selected to do a live pitch to a panel of leading VC professionals. Winning business will be awarded:

o   A private meeting with a top venture capital fund

o   Premium versions of Microsoft Office 2007 ($600+ value)

o   Cash

-          Excellent networking opportunity

o   Exposure to potential employees/partners and other likeminded entrepreneurs from Wharton, Penn and the Philadelphia student and professional community.

o   Meet Wharton MBAs and Penn Engineering students who could do projects for you. Who doesn't love free labor?

o   Meet leading providers of business services, such as Morgan Lewis (legal), and Meltwater and Cohen Brothers (Accounting).

-          Receive valuable, positive media exposure for your business in leading online and print blogs and publications.

-          Attend (for free) our premier keynote speeches and panels composed of industry thought leaders focused on the entrepreneurship ecosystem.

About the Wharton Entrepreneurship Conference:

The Wharton Entrepreneurship Conference is one of the country's most widely attended entrepreneurship conferences. Over its twelve year history, it has attracted thousands of students, professionals, academics as well as coverage from media companies such as the Wall Street Journal, Forbes and CNN. This student-run conference has also vastly benefited from various speakers and their entrepreneurial and business knowledge in the form of keynotes as well as panelists.

 

Past participants in the conference include Thomas Stemberg (Founder and CEO of Staples), David Neeleman (Founder and CEO of JetBlue Airways) and Darius Bikoff (Founder of Glaceau, maker of VitaminWater). This year we are inviting over 500 professionals, entrepreneurs, and students to participate in the conference. 

We are especially thrilled to present our two keynote speakers this year: Julian Brodsky, founder, director and chairman of Comcast Corporation, and Donny Deutsch, host of CNBC's The Big Idea, will be speaking about the challenges of entrepreneurship in the current environment, and ways to turn big ideas into reality.  Our keynote will be complemented by words of wisdom from Farhad Mohit, founder and CEO of Shopzilla/Bizrate and DotSpots. 

 

More info:

Conference:

http://wec2009.com/

 

WEC25 Expo:

http://wec2009.com/expo

Contact: Jon Feldman - jfeldm@wharton.upenn.edu  

Medical Device opportunity with doctor in Florida

From an email I received:

"Company/Opportunity Description:

 I have found that hospital employees are very lax in wearing personal
 protective equipment. This causes spead of resistant bacteria in
 hospitals. There are about 100,000 deaths yearly due to these infections
 (& ~ 2 million infections; which costs the hospital industry billions of
 dollars in losses). Recently, Medicare has passed a mandate that they
 will not pay for certain hospital acquired infections.

 

 

My device would save hospitals money by reducing hospital acquired
infections. I am seeking the assistance of the school in writing a
good business plan. It probably is a specific project for a student in the
entrepreneurship class, where writing a business plan is part of the
learning process. I would prefer that the candidate have either a medical or an engineering background.

 

I am trying to develop a device with the assistance of a North Carolina engineering firm.

This would target the hospital infection control market which is a large and

growing one.

 

Thank you , Sincerely,

 

 Vivek Manikal, MD,

 

 Infectious Diseases Associates of North Florida, PA

 

 St Augustine, FL 32080

 

 904 461 0821