Archive for February, 2010
Friday, February 26th, 2010
 Vint Cerf
TYSONS CORNER, VA – Google Vice President Vint Cerf, often called “father of the Internet” for his work on the Internet protocol in the early 1970s, told an audience at the Southeast Venture Conference here Thursday that the mobile Web and security are two areas that the assembled entrepreneurs and venture capitalists should view as opportunities.
Cerf, who advocated for openness and net neutrality as essential to the Internet, also talked about the developing “Interplanetary Internet,” and encouraged the audience to try out the Mars button on Google Earth to travel vicariously over the surface of the planet thanks to imagery from the Mars orbiters and rovers.
Mobile opportunity
Cerf said there are now 4 billion mobile phones, 800 million of which can currently access the Internet. “Over time, a significant fraction of the Net community may be found in the mobile environment, so it is important to anyone thinking about Internet products and services,” he said.
The importance of mobile is the reason Google is investing so much in it with Nexus One and the Android phone, he said.
Cerf was the luncheon keynote speaker at the two-day event at which 60 innovative Southeastern tech companies presented their business plans. Other speakers include Jimmy Wales, co-founder of Wikipedia, and Mark Heesen, president of the National Venture Capital Association. The event ended Thursday evening.
Asia has most Web users
Discussing use of the Internet globally, he noted that North America has the highest penetration at 75 percent, but no longer boasts the most users. Asia captures that with 738.3 million users, about half in China—and that’s only 20 percent of the Asian population.
Europe, with 52 percent penetration has 418 million users, while North America has 252.9 million.
Africa lags and “Is one of the hardest places to build penetration,” Cerf noted.
Cerf also spoke of the need to adopt IPv6, the new address space standard.
He said security is of growing importance and that the new digitally signed version of the domain name system should help.
Smart grid program another entrepreneurial opportunity
He pointed to the development of a U.S. smart grid program to make the national power system more visible and controllable, saying, “It should offer a major opportunity for many people in this room to participate.”
Pointing to the diversity of applications the Internet now supports, Cerf said, “It wasn’t designed to support any of them. The lesson: don’t get too deeply into the details of what you try to implement. If you stay a little ambiguous, it may support more than you originally planned.”
Cerf talked about the “Dramatic demonstration of the utility of interconnection” offered by the Internet in its use to save lives in Haiti and to give voice to opposition in Iran.
In the recent Haiti disaster, he said, some people buried under rubble were able to tweet that they were stuck and were thus rescued.
Cerf also said that the Internet now connected in ways he had never anticipated. “Like refrigerators,” he said. Or, he added, the ocean surfer who Web enabled his surfboard. “I can imagine him sitting on the ocean waiting for the next wave thinking, ‘Hey I could be surfing the Internet.’ “
Security biggest issue today
Cerf also discussed the rising use of sensors connected to the Internet – such as the one that monitors the temperature of his wine cellar.
“Security is by far the biggest issue on the net today,” Cerf said. While technology may deal with some security issues, he said that changing user behavior—such as getting them to use more secure passwords and to change them often—was also necessary.
Technology may even aid that by coming with ways to make it easy to change a password every time it is used, he said. “Then, even if it’s compromised, it won’t matter, because it won’t work a second time.”
Cerf wrapped up his keynote discussing the semantic Web. Google, he says, would “Really like to know more about the meaning of things. Words can mean different things or different words can mean the same things. It’s a hard nut to crack.”
Developing more insight into “meaning” would improve Google’s ability to provide the right search results, he pointed out.
“We’re dependent upon the research community for a breakthrough,” he said. –Allan Maurer
Tags: Interplanetary Internet, mobile, Security, SEVC, Vint Cerf Posted in Events, Internet/New Media, People, Security, Telecommunications | Comments Off
Friday, February 26th, 2010
 Dell's Winston-Salem manufacturing plant
WINSTON SALEM, NC – Dell Inc. has confirmed that it will keep its Winston-Salem manufacturing plant open until July.
The company originally planned to shutter the plant, which employs 500 workers, by January. It later extended the closing until April and now has confirmed to the Winston-Salem Journal that it will keep the plant humming until July.
Dell (Nasdaq: DELL) said a surge in global demand is the reason for the extension. The company laid off 4oo workers in November.
We’ve followed the hoopla over the Dell plant for years.
The plant opened in 2005, drawn to the region with large, controversial state and local incentives. A court challenge to the incentives, however, was rejected.
The company’s announcement that it would close the plant drew additional scrutiny and criticism of the large tax incentive plans North Carolina frequently uses to attract businesses to the state.
The company and the state disagreed over how much of the incentives granted the company would have to be repaid.
Tags: Dell Winston-Salem facility, Hardware, jobs, tax incentives Posted in Carolinas, Economic Development, Hardware, North Carolina | Comments Off
Friday, February 26th, 2010
 The NET TALK COM TK6000 device
MIAMI – NET TALK.COM, INC. (OTCBB:NTLK) says it has entered into an agreement with an accredited institutional investor, raising up to an additional $5 million.
The company will issue to the investor shares of its Series A Convertible Preferred Stock and warrants exercisable for shares of common stock.
The company sells products supported by its digital voice service. netTALK’s patent pending TK6000, which we think sounds similar to the Magic Jack device widely touted in TV ads last year.
It says the device can connect directly to a router or a computer’s USB port and offers consumers free local and long distance calls to any landline or mobile phone in the U.S. and Canada from anywhere in the world.
Tags: financing, Florida, Hardware, Miami, Net Talk Com, telecom Posted in Florida, Money, Telecommunications | Comments Off
Friday, February 26th, 2010
 Mark Heesen, president of the National Venture Capital Association
By Allan Maurer
TYSONS CORNER, VA – The venture capital industry may not be broken, but it faces “Extremely difficult road blocks ahead. The exit market is dismal right now,” Mark Heesen, president of the National Venture Capital Association told the audience at the last day of the Fourth Annual Southeast Venture Conference here Thursday.
Heesen also said lawmakers had ground to a halt on important legislation, that more capital calls are likely at funds, and that venture firms that recently raised capital are “Sitting in the Catbird seat.”
Interviewed on stage by Mike Elliott of Atlanta-based venture firm Noro-Moseley Partners, Heesen said, “I’ve been in this industry 20 years and every year someone has said it’s broken.”
While not “broken” it is, however, “Going through a fundamental change,” Heesen said. “It’s changing from an IT centric industry to one more focused on biotech and clean tech. With that change comes uncertainty. As the IT industry matures more and more, we’re seeing VCs leave and go into other sectors.”
 Mike Elliot of Noro-Moseley PartnersThe rise of angel investors, who are funding more and more early stage deals, is also important to the industry, he noted.Returns will suffer
Nevertheless, Heesen said fewer funds are likely and returns are “Going to suffer over the next couple of years. But the industry is not broken, it’s changing.”
Among Heesen’s other points during the interview:
“We’re going to start seeing a lot more capital calls. Funds have raised all this money and they’re going to have to start deploying it.”
He said “It’s still going to be a very tough fund-raising year, which will create more shakeout. VCs will have to look for new limited partners rather than just the ones they have dealt with for the last 10 to 20 years.”
Sitting the Catbird seat
Heesen said he expects VCs to continue supporting their late stage companies. “They have put so much time and money into them, they’re going to continue to invest in them.”
VCs are also looking at early stage companies, he added. “There are a lot of good entrepreneurs out there now who understand that you don’t make a couple of million dollars overnight, understand global markets, and have a passion in their bellies.”
Venture firms that have recently raised money are “Sitting in the catbird seat,” Heesen said, “because there are a lot of really good deals out there.”
Washington at a standstill
Heesen recommended that entrepreneurs seeking funding should look for venture capital partners who can help them the most, not just the ones who can give them the most money.
Asked what is going in in Washington today, Heesen admitted, “I’ve been in DC for 25 years and have never seen such a sheer inability to move forward. It’s shocking. The Democrats fear losing their majority and the Republicans are saying it’s better to nothing than to do anything.
“There are smaller and smaller groups of moderates in both parties, so it’s harder to come up with agreement.”
He said he’s not optimistic about seeing legislative action on the energy package, financial services reform, or healthcare reform. “They take these things to the 10-yard line and things seem to fall apart again.”
www.seventure.org
Tags: Atlanta, Biotech, clean tech, DC, Events, IT, Mark Heesen, National Venture Capital Association, Noro Moseley Partners, SEVC, venture funding, Virginia Posted in Biotech, Energy, Events, Georgia, IT, Potomac, Viewpoint, Virginia, Washington, DC | Comments Off
Friday, February 26th, 2010
ATLANTA – PowerPlan Consultants Inc., maker of integrated budgeting, project, asset, depreciation, and tax management software for asset-intensive industries, has closed on a $110 million equity offering, according to a regulatory filing.
The company said earlier this month it had received a strategic investment from funds managed by TPG Growth and JMI Equity.
The company sells its PowerPlant and PowerTax products to asset intense industries such as electric, gas, and water utilities, telecom and cable service providers, railroads, petrochemical and pipeline industries. PowerPlan has a growing client base oAtf over 130 organizations, including some of North America’s largest players in these industries.
It offers a full spectrum of software products and consulting services necessary to implement and maintain a fully-automated and cash flow optimized project management and asset accounting process for businesses with large, complex asset bases.
The firm says it will use the funds to expand into new verticals and its geographic reach.
It disclosed the amount of the financing in a filing with the U.S. Securities and Exchange Commission.
www.powerplan.com
Tags: Atlanta, financing, IT, PowerPlan, software Posted in Energy, Georgia, IT, Money | Comments Off
Friday, February 26th, 2010
PITTSBORO, NC – Biolex Therapeutics, a company that uses its patented aquatic plant LEX system to make therapeutic proteins and monoclonal antibodies, has raised a $10 million round of financing according to a regulatory filing.
Clarus Ventures with OrbiMed Advisors led the company’s $60 million Series D round in October 2008.
Previous investors also include Intersouth Partners, Quaker BioVentures, Johnson & Johnson Development Corporation, Investor Growth Capital, Polaris Ventures, Mitsui & Co., The Dow Chemical Co., JP Morgan Securities and the North Carolina Economic Development Fund.
Biolex disclosed the current raise in a filing with the U.S. Securities and Exchange Commission.
Biolex yanked its registration for an initial public offering of stock last year prior to its $60 million financing.
The company’s product candidates are designed to provide superior efficacy/tolerability profiles and to address large, proven pharmaceutical markets.
Biolex’s lead product candidate, Locteron, is in Phase 2b clinical testing for the treatment of
chronic hepatitis C. Biolex CEO Jan Turek said in February that clinical trial results on Locteron suggest the drug’s tolerbility and dosing convenience support a “substantial commercial opportunity.”
Biolex has also developed two other product candidates that capitalize on the benefits of the LEX System: BLX-155, a direct-acting thrombolytic designed to dissolve blood clots in patients; and BLX-301, a humanized anti-CD20 antibody glyco-optimized for the treatment of non-Hodgkin’s B-cell lymphoma and other diseases.
Previously on TechJournal South: Biolex Therapeutics plants new $60 million round
www.biolex.com
Tags: Biolex, Biotech, financing, NC, Pharma Posted in Biotech, Carolinas, IPOs, Money, North Carolina, Pharma | Comments Off
Thursday, February 25th, 2010
VIENNA, VA – Manoj Ramnani says he had a “There has to be a better way” moment when he returned from a series of networking events and started entering information from a stack of business cards into his laptop. So he created DubMeNow, a mobile software solution for exchanging business cards and instantaneously managing contact information.
DubMeNow has raised $4.3 million, according to TechCrunch. Syncom Ventures led the round, which included angel investors as well.
The company previously raised $400,000 in angel funding in 2008 and $1.1 million in additional angel money in 2009, according to TechCrunch.
The company’s software lets users exchange business cards on their smartphones or PDAs.
When you and another person open the DUB app on an iPhone, BlackBerry or Android and click the locate button, DUB will find both and prompt you to exchange info. The contact information is saved directly to your mobile address book.
If the other person doesn’t have DUB or is in the next state instead of next to you, just type their email address or mobile number and push send. They’ll get a message with your contact info and a link to create their card. Once they do, your info is saved to their mobile address book and theirs to yours.
www.dubmenow.com
TechJournal South editor Allan Maurer can be reached at Allan at TechJournalSouth dot com.
Tags: DubMeNow, funding, mobile, Money Posted in IT, Potomac, Telecommunications, Virginia | Comments Off
Thursday, February 25th, 2010
MATTHEWS, NC – Pokertek has named Mark Roberson its new CEO.
Roberson will also continue to serve as the company’s Chief Financial Officer and Treasurer.
PokerTek Inc. (NASDAQ: PTEK), headquartered in Matthews, NC, develops and markets products for the casino and amusement industries. PokerTek developed PokerPro automated poker tables and related software applications.
“As Acting CEO, Mark has taken charge of the company’s strategy and led an impressive business turnaround over the past nine months,” said Lyle Berman, chairman.
www.PokerTek.com
Tags: CEO, PokerTek, software Posted in Carolinas, Hardware, IT, North Carolina, People | Comments Off
Thursday, February 25th, 2010
ATLANTA & RALEIGH — If you are a technology entrepreneur looking for funding, you can pitch two venture capitalists from Southern Capitol Ventures over breakfast in Atlanta March 4 or in Raleigh March 1 and 15.
Southern Capitol’s Jason Caplain and David Jones invite entrepreneurs who want to start a tech company or already have to join them for bagels, coffee.
They have already held informal sessions for entrepreneurs in Reston, VA and Baltimore.
Caplain says these differ from the firm’s “Calling All Entrepreneur” events in that they are less formal and give entrepreneurs not only a chance to ask their VC-related questions, but also to meet other entrepreneurs.
Space is limited and an RSVP is required. The events are limited to tech entrepreneurs.
For more information, see Southern Capitol’s Web site: www.southcap.com
Tags: entrepreneur breakfasts, Southern Capitol Ventures Posted in Carolinas, Events, Georgia, North Carolina | Comments Off
Thursday, February 25th, 2010
 Mark Heesen, president of the National Venture Capital Association presents the keynote at today's SEVC
TYSONS CORNER, VA – Clean energy firms presented innovative technologies for a revolutionary portable power system, an advanced solar power system that could be incorporated in turf or tents, a way to harness the energy of ocean waves, and the world’s smallest fuel cell, at the Fourth Annual Southeast Venture Conference (SEVC) here Wednesday.
They were among the 27 innovative firms presenting to the assembled entrepreneurs, executives and venture capitalists on the first day of the two-day event. The presentations followd a keynote address by Wikipedia co-founder Jimmy Wales.
Another 28 companies present to the conference today (Feb. 25) following the morning keynote address by National Venture Capital Association President Mark Heesen and the luncheon keynote by Google’s Chief Internet Evangelist Vint Cerf, who is often called “father of the Internet.”
Clean energy was one of the major themes of this year’s companies selected to present.
They included NextGenEn of Columbia, SC, an early-stage clean tech startup developing a solid oxide fuel cell it says will create a revolution in the next generation of portable devices. Its system, an alternative to batteries will offer up to 20 times longer up time from a smaller, lighter source.
The company, which is seeking $850,000 in backing, expects to see revenue by 2014 in what it describes as a $19 billion market.
Columbia Power Technologies of Charlottesville, VA, is developing and commercializing wave energy harvesting devices using off shore, direct-drive permanent magnet generator technology.
Raleigh, NC-based Microcell is developing a novel approach to fuel cell architecture and has already developed a backup power device and has backing from its partnerships with major power companies such as Progress Energy, and companies including Pepco Holdings and a major automotive manufacturer. Older than many of the other presenting companies, Microcell is seeking a large, $25 million investment.
Sestar Technologies of Gainsville, Florida, an early stage company based on technology developed at the University of Florida, is developing flexible polymer photovoltaic (solar) materials. It plans to develop Solarturf, a synthetic grass product laced with PV cells that turns a lawn or highway strip capable of generating environmentally friendly power. It is also developing solar fabrics that can be used in military tents and recreational camping equipment.
Miserware of Blacksburg, Virginia, a Virginia Tech spinout, has developed software that brings intelligent power management to laptops, PCs and servers. The company says its software can significantly reduce energy consumption in data centers, saving up to $200 a year for each.
For more information see: www.seventure.org
Previously on TechJournal South:
Columbia Power Technologies: Wave hello to clean energy
Tags: clean energy, Florida, NC, SC, SEVC, Virginia Posted in Carolinas, Energy, Events, Florida, IT, North Carolina, Potomac, South Carolina, Virginia, Washington, DC | 1 Comment »
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