Archive for February, 2010
Wednesday, February 24th, 2010
 Wikipedia co-founder Jimmy Wales TYSONS CORNER, VA - Jimmy Wales: Are we getting smarter?
Tysons Corner, VA – Are we getting smarter? Jimmy Wales, founder of Wikipedia told the opening session of the 2010 Southeast Venture Conference here that he thinks we are.
Wales also said he believes the way today’s young people go to the Web for the type of media experience they want rather than traditional forms, will eventually move brands away from just point of sale, transaction based advertising.
Citing examples from the book, “Everything Bad is Good for You,” he said we’ve progressed from simply plotted TV such as “I Love Lucy” to the more complex “Seinfeld.”
Dramatic shows have grown so complex that “Lost” has its own “Lostpedia,” which now has 6,177 articles written by passionate fans.
Revealing stats
Wales also cited a number of revealing statistics and facts about Wikipedia and its Wikia spinout.
Noting that Wikipedia’s goal is to be global, giving everyone “Free access to the sum of human knowledge,” he asked, “But how global are we really?”
About 20 percent of Wikipedia’s 14 million entries are in English. Germany is second with 1 million entries. French, Japanese, Polish, Dutch, Spanish and Italian are also all strong.
But the developing world, India and China, for example lag. “We have almost nothing in the African languages. We have a long way to go in the languages of the developing world,” Wales said.
What are people around the world interested in?
The Japanese are interested in American and Japanese popular culture.
Germans like geography
The Germans are the most interested in geography. “I don’t know if that’s good or not,” quipped Wales, adding, “I don’t make that joke in Germany, but they love it in France.”
One unusual note: people in Iran are avid Wikipedia users.
Wales also talked about the Wikipedia spinout, Wikia. “In a library there are lots of books other than encylopedias,” he said. Wikia is an effort to fill the rest of the shelves.
There are Wikias focused on recipies, TV shows, many specific technologies such as the new Canon cameras that allow developers to “hack” it.
In its 36 months, Wikia has generated 600 million page views and is the 75th most popular site on the Web, compared with Wikipedia, which is 5th.
Wales said the way the younger generation goes to the Web for certain type of experience will eventually result in brand advertising moving online, despite today’s focus on point of sale advertising.
“The reason Google does so well,” he said, “is that when people go to Google, they’re often shopping. That’s valuable to advertisers.” But today’s younger generation goes online for a deeper experience of whatever interests them, he noted.
In response to a question from the audience regarding teachers who tell their students not to use Wikipedia, he said, “Well, you can tell them not to listen to rock and roll, too.”
He added that Wikipedia is making an effort to improve it’s already high level of accuracy compared to print encylopedias.
“We think there should be more academic research because we think Wikipedia holds up well, but also because we want to know how to fix what’s wrong.”
See www.seventure.org for more information.
Tags: Jimmy Wales, SEVC, Wikia, Wikipedia
Posted in Events, Internet/New Media, Potomac, Virginia | Comments Off
Wednesday, February 24th, 2010
 RICHMOND, VA – Investors say they have completed a recap and management restructuring of Cupron Inc., an Iraeli-based company, and also created a new entity, Cupron Medical Inc., headquartered in Richmond.
The investors, who include Virginia Life Sciences Investment, say the recap is “significant,” although they did not disclose the amount.
Cupron’s proprietary technology permanently integrates cuprous oxide particles in textile fibers, non-woven fabrics, paper, latex and other polymeric products. The technology can also be utilized in cosmetics, creams and other suspensions.
The cuprous oxide technology is very long lasting and can be applied to a broad range of consumer, industrial, military, and healthcare applications. In addition to exhibiting the antimicrobial efficacy and therapeutic benefits
The transaction also resulted in the formation of a new executive leadership team. Key members of this new team include Paul Rocheleau, a seasoned executive in technology development, global materials business leadership, and venture management, who has been appointed to the dual roles of Chairman of the Board for Cupron Inc. and Chief Executive Officer of Cupron Medical Inc.
The proceeds from the transaction are being used to expand new product development and the clinical trial program, gain additional regulatory approvals, and significantly strengthen and expand the global management and sales teams to support a higher level of commercialization activity.
Tags: Biotech, Cupron Medical, Richmond, VA
Posted in Biotech, Money, Potomac, Virginia | Comments Off
Wednesday, February 24th, 2010
 Intel President and CEO Paul Otellini Washington, DC – Intel President and CEO Paul Otellini has unveiled a $3.5 billion initiative to support investment in U.S.-based growth-oriented industries and detailed a commitment to significantly increase jobs available this year for recent college graduates.
“Many more college graduates will now be able to put their education to work thanks to these 17 companies. We hope this is just a start and welcome companies across all industries to join this open effort,” he said.
The Invest in America Alliance is a two-pronged effort. The first includes a commitment from Intel Capital, Intel Corporation’s global investment organization, and 24 leading venture capital firms to invest $3.5 billion in U.S.-based technology companies over the next 2 years.
These investments, which include a new, $200 million Intel Capital Invest in America Technology Fund, will target key innovation and growth segments such as clean technology, information technology and biotechnology.
We see many venture firms active in the Southeat and Mid-Atlantic regions are participating.
Joining Intel in this effort is Advanced Technology Ventures, Braemar Energy Ventures, Bridgescale Partners, Canaan Partners, DCM, Draper Fisher Jurvetson, Flywheel Ventures, Good Energies, Institutional Venture Partners, Investcorp Technology Partners, Khosla Ventures, Kleiner Perkins Caufield & Byers, Menlo Ventures, Mohr Davidow Ventures, New Enterprise Associates, North Bridge Venture Partners, QuestMark Partners, Sevin Rosen Funds, Storm Ventures, Telesoft Partners, Updata Partners, U.S. Venture Partners, Venrock and Walden International.
Second, the Invest in America Alliance also includes commitments from 17 technology and other corporate leaders to increase their hiring of college graduates, some by as much as two times, to create the products and provide the services of tomorrow, Intel says.
Other venture capital firms and corporations are expected to join the Invest in America Alliance with investment funds or hiring goals in the coming weeks and months.
A transcript of Otellini’s speech, along with additional detail concerning the Invest in America Alliance, are available at www.intel.com/pressroom/kits/InvestinAmerica
Tags: Intel Invest in America Fund, Invest in America Initiative, venture capital
Posted in IT, Money | Comments Off
Wednesday, February 24th, 2010
 BOCA RATON, FL – VenX Medical, a company developing a new handheld device to treat spider veins, has raised $250,000 in equity, according to a regulatory filing.
Two investors provided the equity, according to a filing with the U.S. Securites and Exchange Commission.
The company’s Web site says the device is designed to overcome limitations of current laser treatment of spider veins.
The device was created by Edward Boyle and Andrew Jones, both MDs.
Navroze Mehta was the Founder and Vice Chairman of NovaVision Inc., a venture backed neurostimulation medical device company that restores vision in stroke and traumatic brain injury patients.
Mehta has 15 years of experience managing life science and technology companies.
He co-founded NovaVision in 2002, guiding the company through the FDA clearance of its Vision Restoration Therapy device, the accumulation of 50 Partner Centers and three rounds of financing.
Before joining NovaVision, he co-founded Dermdex/Skinstore, a medical technology company that specialized in practice efficiency solutions for dermatologists and plastic surgeons.
www.venxmedical.com
Tags: Florida, funding, Medical Device, VenX Medical
Posted in Florida, Medical Device, Money | Comments Off
Wednesday, February 24th, 2010
 Atlanta ATLANTA – Intelleq Holdings, has raised a $1 million round of equity, according to a regulatory filing.
The filing with the U.S. Securities and Exchange Commission cites as principals Michael W. McLaughlin, founder of Atlanta-based IP Investments Group, and Ryan Strong, also an IP Investment Group founder and principal.
IP Investments group provides services related to selling or licensing patented technologies.
According to the IP Patents Web site, McLaughlin has significant expertise in negotiating intellectual property transactions and licensing arrangements, intellectual property valuation, and strategic intellectual property consulting services.
He spends the vast majority of his professional time negotiating patent license agreements, valuing patents for acquisition and/or sale, and helping companies implement patent portfolio licensing programs and other strategies to extract value from patents and other intellectual property.
Strong currently manages all aspects of patent licensing programs, negotiates patent sale / joint venture agreements, and assists clients in determining the most effective strategy for generating return on their intellectual property.
We didn’t find any additonal information about Intelleq Holdings, but we’ll be giving them a call as soon as we return from the Southeast Venture Conference.
ipinvestmentsgroup.com
Tags: Atlanta, funding, Intelleq Holdings, IP, patents
Posted in Georgia, Money | Comments Off
Tuesday, February 23rd, 2010
 BALTIMORE, MD – Millennial Media, the largest independent mobile advertising network, says it will acquire TapMetrics, a San Francisco-based mobile analytics firm, focused on application usage and behavior. Terms of the deal were not disclosed.
TapMetrics software suite provides detailed analytics to enable developers to better manage their application sales and revenue.
Since adding $16 million to its cash position in November, Millennial Media has expanded its offerings to key customer segments, to include OEM and platform partnerships that seek to access its strong base of developers and publishers. Additionally, Millennial Media’s employee base has grown by more than 20 percent, as it continues to expand operations in the U.S. and Europe.
We see Millennial’s rapid growth as another indicator that the mobile sector is indeed taking off the way analysts have been predicting it would this year.
The company says its brand business grew by a whopping 756 percent year over year, while its performance business grwe 171 percent and its average deal size increased by 353 percent. It says it reaches 81 percent of mobile Web users.
www.millennialmedia.com
Tags: Acquisitions, Baltimore, Maryland, Millennial Media, Mobile ad network
Posted in Acquisitions, Internet/New Media, Marketing, Telecommunications | Comments Off
Tuesday, February 23rd, 2010
 Tim Draper of Draper Fisher Jurvetson singing "RiskMaster" at last year's Southeast Venture Conference. POTOMAC REGION – The Southeast Venture Conference (SEVC) which starts tomorrow (Feb.24) at the Ritz Carlton in Tysons Corner, VA, has fewer than 30 seats left and registration is expected to close today (Feb. 23).
The fourth annual SEVC features nearly 60 innovative presenting companies. Keynote speakers include Wikipedia founder Jimmy Wales, Google VP and “father of the Internet,” Vint Cerf, and President of the National Venture Capital Association, Mark Heesen.
The event is one of the largest venture conferences on the East Coast and has traditionally sold out.
www.seventure.org
Cel-Sci has vaccine study success
VIENNA, VA – Cel-Sci Corp. (NYSE:AMEX:CVM), a Vienna, VA-based firm, says its CEL-2000 vaccine demonstrated that it can block the progression of rheumatoid arthritis in a mouse model.
CEL-2000, administered after disease symptoms had started, prevented, in a statistically significant manner, the further development of arthritic conditions, including joint swelling and deformation, bone and cartilage changes.
GSA appoints “chief greening officer”
WASHINGTON, DC – Supporting President Obama’s move toward energy efficiency in the federal government, the General Services Administration has created the new office of chief greening officer.
The CGO, part of the GSA’s Public Buildings Service, will lead the initiative to incorporate energy-efficient green technologies at the GSAs 1,500 owned and 8,000 leased facilities.
The GSA says Scott Conner, director of the Denver Federal Center for GSA’s Rocky Mountain Region, will be acting CGO until the position is filled.
ATTIAN nails contracts worth $13M
VIENNA, VA – Attain, a public sector professional services company, says it has closed 26 new contracts and contract continuations worth more than $13 million since September 2009.
Founded in 2009, Attain (previously Eclat Consulting) provides services including project and performance management, grants management, applications and IT managed services and health analytics modeling to public sector organizations in the Federal, state and local government, higher education and nonprofit markets. www.attain.com
Razorsight CEO named to Smart100
FAIRFAX, VA – Razorsight says CEO Charlie Thomas was named to the Washington SmartCEO magazine 2010 Smart100 for the second consecutive year. The Smart100 is an exclusive group of 100 CEOs assembled by an independent selection committee.
Razorsight is a provider of profit analytics for the communications Industry. Razorsight’s Profit Enhancement Center is a cloud solution.
Razorsight software as a service is utilized by numerous industry leaders including AT&T, Verizon, Comcast, Telus, IBM, Windstream and Telekomunikacja Polska. www.razorsight.com
Tags: Attain, GSA Greening officer, Potomac, Razorsight, SEVC, Tim Draper
Posted in Business Briefs, Energy, Events, Government/Defense, IT, Maryland, Potomac, Virginia, Washington, DC | Comments Off
Tuesday, February 23rd, 2010
 ATLANTA – Navigation Capital Partners, an Atlanta-based middle market private equity firm, has acquired Specialized Technical Services Inc., a provider of smart grid infrastructure upgrades and meter-related services to municipal, co-operative and investor-owned utilities.
We noticed that smart grid upgrades are a hot sector.
STS is the first in a series of acquisitions planned by NCP in support of its initiative to build an industry-leading provider of value-added field and data management services to electric, water and gas utilities. NCP is actively looking for other deals in the sector.
STS, based in Richmond, Ky., provides a wide range of solutions designed to enhance a utility’s ability to monitor and manage its assets.
NCP has appointed Robert E. Shively, a member of its Executive-in-Residence program, as CEO of STS.
NCP plans to help STS expand into a “one-stop shop” of high-value field and data management solutions designed to enhance a utility’s ability to manage its assets.
NCP is seeking additional, high-quality companies to be a part of this initiative.
Ideal companies currently provide field services, data management solutions and/or data hosting solutions to customers in the utility sector and possess the following characteristics:
* A preferred range of $20 million to $100 million in revenue;
* A history of sustained profitability; and
* EBITDA of $3 million plus.
For more information see: www.navigationcapital.com
Tags: Acquisitions, Navigation Capital Partners, smart grids, utilities
Posted in Acquisitions, Energy, Georgia, IT | Comments Off
Tuesday, February 23rd, 2010
 DURHAM, NC – Among its other claims to fame, Durham, North Carolina now hosts the world’s largest cross-platform mobile app and content store. PocketGear Inc. has acquired smartphone app seller Handango, creating a marketplace with a catalog of more than 140,000 paid and free mobile titles.
PocketGear and Handango are the two largest independent app stores and combined to date have generated over $400 million in mobile application revenues from customers living in more than 175 countries and using over 2,000 unique mobile devices. Terms of the acquisition were not disclosed.
With the acquisition, PocketGear’s mobile app marketplace has been expanded to connect more than 32,000 developers in the PocketGear Developer Program.
We have followed PocketGear CEO Judd Bowman since he started the firm that morphed into Motricity, after graduating from high school. Motricity relocated to Seattle and Bowman chose to stay put and launch PocketGear with venture backing from Wakefield Group and Noro-Moseley Partners. But we understand Bowman worked with Handango CEO Alex Bloom there before Handango lured him away.
The combined now has more than 40 PocketGear-powered storefront and distribution partners, including 4 of the world’s top 5 handset manufacturers, 4 of the top 5 mobile operators in the US, 3 of the top 10 mobile operators globally, and leading media and ecommerce companies including Samsung, LG, Sony Ericsson, Research in Motion, Microsoft, T-Mobile, AT&T, and Verizon Wireless.
In addition, more than 1,000 app developers are now using PocketGear’s developer storefront solutions to market and sell their mobile apps directly to consumers from their own websites and other marketing channels.
The company sells mobile titles for Android, Symbian OS, BlackBerry, Windows Mobile, Palm, Linux, and Java powered mobile devices.
Upon closing, Bowman will remain as president and CEO of PocketGear and Bloom will become COO of PocketGear.
www.corp.pocketgear.com
Tags: Acquisitions, Durham, Handango, mobile apps, PocketGear
Posted in Acquisitions, Carolinas, Internet/New Media, North Carolina, Telecommunications | Comments Off
Tuesday, February 23rd, 2010
 ROCKVILLE, MD – Squella Inc., a Rockville-based clinical stage biopharmaceutical company testing a new treatment for tuberculosis and other life-threatening infectious diseases, has raised $2 million of a $6 million debt offering, according to a regulatory filing.
The company is completing a Phase IB study of its lead drug, SQ109, which has broad antibiotic potential and is being initially tested to treat TB.
SQ109 is a new diamine antibiotic intended to replace one or more of the current firstline anti-TB drugs and simplify patient therapy. SQ109 was granted U.S. FDA Fast Track designation and FDA/EMEA Orphan Drug Designation in 2007.
SQ109 shows activity against drug sensitive and multi-drug resistant (MDR and XDR) Mycobacterium tuberculosis, the causative agent of TB.
The drug was codiscovered by scientists at Sequella and at the National Institute of Allergy and Infectious Diseases (NIAID), part of NIH, under an earlier Cooperative Research and Development Agreement. Sequella previously negotiated from NIH worldwide exclusive rights for SQ109’s use against tuberculosis.
In October, Sequella received a $594,661 two-year Small Business Innovative Research (SBIR) grant from the National Institutes of Health (NIH), National Institute of Allergy and Infectious Diseases (NIAID) for the development of SQ641, Sequella’s lead compound in its capuramycin series, a new class of antibiotic.
As announced in September 2008, Sequella also received a 3-year, $2.3 Million NIH Phase 2 SBIR grant for development of SQ641 as an antibiotic for treatment of tuberculosis.
The company disclosed its debt raise in a filing with the U.S. Securities and Exchange Commission.
www.sequella.com
Tags: Biotech, debt funding, Maryland, Pharma, Sequella
Posted in Biotech, Maryland, Money, Pharma, Potomac | Comments Off
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