Archive for April, 2010
Thursday, April 29th, 2010
COLUMBIA, MD – Integral Systems, a developer of satellite communications systems, has bought Chantilly-based Sophia Wireless, which sells solid state communications power amplifiers, for $2.5 million in cash.
Integral EVP Stuart Daughtridge said Sophia’s technology provides more power in smaller and lighter designs at lower price points than other commercially available amplifiers.
That makes them ideal for use in vehicle-mounted and airborne applications, the company says.
Tags: Acquisitions, Hardware, Maryland, satellite communications Posted in Acquisitions, Hardware, Maryland, Potomac | Comments Off
Thursday, April 29th, 2010
 Retro Soviet matchbook art. Social Matchbook helps companies fire up their rockets.
WASHINGTON, DC -Social Matchbox, which organizes a bi-annual event for Web and software startups to present to investors, will hear 11 companies at its spring event tonight (Thursday, April S29).
Presenting tonight are the firms picked from 65 nominees:
WebTaps, ShoutReel, CardStar, CouplesSpark, WhereMark, Heliograph, BreweryFans, Replyz, Ringio, Starfish Retention Solutions and Cardagin Networks.
Presenters will be given 10 minutes to talk about their product and answer questions from an audience full of their peers, investors, and members of the startup community. All presenters will be considered for the prestigious Community Choice Award, based on the audience’s votes, and the Founder’s Award, based on votes from startup founders who have previously been selected to present at Social Matchbox.
Social Matchbox has helped propel presenters to success over the past three years since the event’s humble beginnings with a $35 Guitar Center Amp and a microphone. A few of these presenter alumni include:
*Clearspring (funded), CollectiveX (funded), GeniusRocket (funded), Grab Networks (two startups meged), HonestyOnline (funded), HotPads.com (funded), Jam Legend (funded), Legal River (funded), Living Social (funded), Mixx (funded), Mobile Posse (funded), OPower (funded), Qloud (acquired), Razoo (funded), Searchles (funded), Social Gaming Network, TapMetrics (recently acquired by Millennial Media), TinselVision (funded), Unblab (funded), Webs.com (funded), and many others.
Tags: DC, Events, Social Matchbook, Startups Posted in Events, Internet/New Media, IT, Maryland, Potomac, Virginia, Washington, DC | Comments Off
Thursday, April 29th, 2010
WASHINGTON, DC – LivingSocial, the company that developed the popular Facebook applications, Visual Bookshelf and Pick Your Five and the revenue-producing LivingSocialDeals, has raised a $14 million C round of financing led by Lightspeed Venture Partners on the heels of closing its $25 million B round in March. U.S. Venture Partners, Grotech Ventures and Steve Case’s Revolution participated in the financing.
The company raised $10 million previously for a total of $49 million. We can’t help but be impressed at how quickly LivingSocial has pumped venture fuel into its group buying deals program, which it is rapidly expanding. It does have competition from Chicago-based Groupon, which also recently raised a huge $135 million round. Others include BuyWithMe and Kashless.
A Lightspeed managing director told the Wall Street Journal LivingSocial is growing as fast or faster than Groupon. The online group discount business can probably handle several leading players, but consolidation is likely somewhere down the road.
LivingSocial will use the capital infusion to expand into additional markets – bringing Deals to dozens more cities throughout the U.S. in 2010. Consumers who sign up for the Deals program receive offers that save an average of 50 to 70 percent on local products and services, such as restaurants, spas, sporting events, hotels and attractions.
Launching in new markets
It is launching in four new markets: Portland, Orange County, Charlotte and Philadelphia. That brings LivingSocial live in 18 cities across the country with major plans to expand to dozens of markets throughout the year. It’s already active in many Southeast markets, including Raleigh-Durham, Atlanta, and DC.
“We’ve known and admired the LivingSocial team for a long time, and I have bought many of their terrific local offers. They’ve done an excellent job of growing their user base through smart media buying and excellent knowledge of social channels and virality,” said Jeremy Liew, managing director of Lightspeed Venture Partners. “With this financing round, LivingSocial is very well positioned to bring their great offers to even more people.”
The company says LivingSocial users throughout the country saved an average of more than $32 each in March, and have saved tens of millions of dollars since the launch of Deals in 2009.
We turned the tables on LivingSocial CEO Tim O’Shaughnessy and asked him to pick his five favorite things shortly after the firm’s last financing: Five Questions for LivingSocial’s Tim O’Shaughnessy
For our profile of LivingSocial see: LivingSocial helps users find the next great book, band or beer
For our story on the company’s previous financing in March see:
Living Social lands $25M
Tags: Atlanta, Charlotte, DC, financing, LIvingSocial, LivingSocialDeals, Raleigh Durham, social networking Posted in Carolinas, Georgia, Internet/New Media, Money, North Carolina, Potomac, Washington, DC | Comments Off
Thursday, April 29th, 2010
ASHEVILLE, NC – CAROLINA CONNECT, a day-long conference for entrepreneurs and investors holds its seventh event May 13 at the Renaissance Asheville Hotel, 31 Woodfin St., in downtown Asheville. CAROLINA CONNECT is presented annually by AdvantageWest, the economic development commission for the 23 western counties of North Carolina.
The organizers say the highest number of accredited investors in conference history has confirmed attendance at this year’s event, offering exceptional access for those seeking to make critical connections for growing their business and perhaps signaling an improving economy.
In addition to networking and sessions on entrepreneurship and capital, mainstays of previous CAROLINA CONNECT conferences, the 2010 edition will feature additional tracks on green business and intrapreneurship – that is, the practice of applying entrepreneurial skills and approaches within an established company, such as assertive risk-taking and innovation.
The full day of connecting, idea-sharing and professional development includes a stellar lineup of keynote speakers, breakout sessions, and the popular Critical Conversations Café – plus an awards luncheon recognizing innovation and achievement in entrepreneurship across the region. The event starts with a pre-conference networking breakfast from 7:30 to 8:30 a.m. and ends with a post-conference reception from 5:30 to 6:30 p.m.
Keynote speakers include Kauffman fellow and Silicon Valley investor Victor Hwang and Lisa Halpert Mesnick, social media strategy manager for the global online employment company, Monster.com.
Early registration for CAROLINA CONNECT is $95 and includes full access to all conference sessions, plus continental breakfast, lunch and the closing networking reception. After May 7, registration is $125. Space is limited and early registration is encouraged at www.advantagewest.com.
Tags: AdvantageWest, Asheville, Carolina Connect, Events, NC Posted in Carolinas, Events, North Carolina | Comments Off
Wednesday, April 28th, 2010
 Joe Procopio
By Joe Procopio
If you’re familiar with my geek cred, it shouldn’t surprise you that I’ve known about Vint Cerf and his contribution to the Internet for ages, almost all the way back to my days on CompuServe chatting about the Fixx and winning valuable prizes playing You Guessed It!
When I heard Dr. Cerf speak at Southeast Venture Conference in DC back in February, he started with a map of the Internet circa 1999, spent a good deal of time on today (security, privacy, policy) and finished with a brief overview of the Interplanetary Internet. Yeah. That’s real and that’s next.
Dr. Vint Cerf: Chief Internet Evangelist and Plumbing Specialist
Vint currently serves as the Chief Internet Evangelist at Google, the coolest job on Geek Planet. But he knows his specialty, and like any good entrepreneur, he attacks it with vigor and without distraction.
He says he’s the guy who builds the freeway, and at WWW2010 he felt like he was asked to tell Enzo Ferrari how to build race cars. That’s you, early stage tech entrepreneur. You’re Enzo in that analogy.
He’s created the plumbing, the underbelly, the series of tubes that makes up what we call the World Wide Web. And he has a very good idea of what should be built and what’s going to be built up on the street level. This is why we love Vint, because he takes us down this rabbit hole he created and gives us a guided tour.
So How About That Internet, Huh?
I got an invitation for a one-on-one with Vint Cerf. I’m not going to go into how that happened, and instead leave it to your imagination. First and obvious thought: What the hell am I going to talk to him about? He’s pretty much heard it all before, he’s open and transparent about what he’s thinking. Am I going to unlock some bold and crazy secret that’s going to allow you to create Internet Disruption and Upheaval in 2010?
I’m going to try.
So let’s go back to all you Enzo Ferraris out there. The great thing about the Internet is its equalizing power, giving those of us with limited resources and little hope of major outside funding a shot at creating real impact and change. The downside, of course, is that we have limited resources and little hope of major outside funding.
What Does Vint Think?

- Vint Cerf, the Google VP often called “Father of the Internet”
During his keynote, Vint spoke to the number of ways to improve the Internet as it is today and I asked him, noting that we don’t have money or influence, how we can make an impact.
He told me that was a tough question (which made my brain explode). The great thing about the Internet today, he said, is that there are so many things you can do without having to rely on everyone else to do the inventing.
But the conundrum, as with all innovation, is that innovation is easy compared to the effort and resources it takes in getting people to adopt the innovation. This is sales, marketing, and strategy.
A lot of entrepreneurs are long on invention and short on strategy and, unfortunately, a lot of potential businesses don’t survive as those skills aren’t brought into the picture soon enough.
However, there are new protocols from an engineering point of view to get those innovations out there.
Apps and Viral Growth
The web has permitted viral distribution of some applications, whether it be download for a particular platform or JavaScript and so on, and a lot of these new innovations are showing up on iPhone and Android. Now, how to monetize? That’s a different story.
Another way is to persuade the people with the wherewithal to cause software to be distributed to engage.
In the case of the basic Internet protocols, Vint recalled spending about 5 years convincing the major computer OS makers, the IBMs, HPs, Digitals, to build internet capability into their operating systems, and got free software built into the Berkeley Unix Release — BSD 4.2, the first integrated Internet protocols in the Unix OS. That put TCP/IP on the map in a free package and companies like Sun instantly adopted it. Thus, they found a way to ride the Unix Ethernet Workstation wave.
So you Ferraris: Find your wave.
It’s Still All About The Pentiums
So how do you play? Vint also believes that the strongest path for entrepreneurial advancement in this decade is still software. Mobile is a huge piece of that, what with 4.5 billion of them out there. Beyond that, we’ve only scratched the surface for a growing number of Internet enabled devices. i.e. the iPad. Further, the smart grid will create even more things that create and send data and they will drive the need for other devices.
Managing your internet enabled stuff will be a theme for this entire decade, and that includes 3rd party services and products and applications. So think entertainment systems managed by these systems, refrigerators talking to dishwashers to conserve energy, and in Vint’s particular case, a wine cellar letting him know his collection was about to go bad.
You Want A Big Playground? Build for the Interplanetary Internet
I mentioned to him that he didn’t get to the Interplanetary Internet this time, and he said he had meant to, but simply ran out of time.
It sounds like science fiction but it’s actual technology, which is how some of the most innovative science gets created. Back in 1998, Vint figured it had taken 25 years to get to where the Internet was then, and started thinking about what we might need in 2025.
That’s where the Interplanetary Internet comes from. He thought: “What do we have to do to network the solar system?” Part of it sounded dramatic, but part of it had real roots in manned and robotic space exploration. So he and JPL spent 5 years inventing the new protocols that were needed to provide a framework to launch more complex space missions.
Not long into it, they found that these same protocols applied to the tactical and commercial mobile sector, and have seen serious investment by the Defense Department and are exploring the implementation in the commercial sector, including Android.
Android? Yes. Android. Although there’s still a lot of work to be done. One big hurdle is the extremely high attention to security and access control. The last thing Vint wants to see is the headline: “15-Year-Old Takes Over MarsNet.” And it’s up to you Enzo Ferraris to make sure that doesn’t happen
Joe Procopio is the founder of Intrepid Company, a technical and management consulting firm (intrepidcompany.com) that has spun out publishing company/creative network Intrepid Media (intrepidmedia.com) and digital incubator ExitEvent (exitevent.com). He would like to someday be known as the Creepy Third Cousin of the Internet. He can be reached at joe@intrepidcompany.com or twitter @jproco.
Tags: Android, entrepreneurs, Internet protocols, Interplanetary Internet, iPhone, Joe Procopio, Vint Cerf, WWW2010 Posted in Carolinas, Columns, Internet/New Media, North Carolina, People | Comments Off
Wednesday, April 28th, 2010
RALEIGH, NC – The e-NC Authority has launched a new Web-based survey to obtain direct input about broadband access and use across the state.
The design and size of this survey will provide businesses, organizations, decision-makers and citizens with the most comprehensive and accurate information on the status, uses and challenges of high-speed broadband in North Carolina.
More than 100,000 North Carolina businesses, nonprofits, health organizations, local governments and households will receive an e-mail message this week with a link for participation in the survey. The e-mail request to complete the survey will be transmitted to recipients by Strategic Networks Group on behalf of the e-NC Authority and its collaborators. The survey will be active until May 19.
Late last year, the e-NC Authority was awarded a grant of $2,023,874 from the U.S. Department of Commerce National Telecommunications and Information Administration (NTIA) to carry out an in-depth, multi-year broadband mapping and planning project for North Carolina.
All North Carolina businesses, organizations and households are encouraged to participate even if they did not receive an e-mail invitation. The survey can also be accessed through the e-NC Authority’s Web site, www.e-nc.org.
Tags: broadband survey, e-NC, Economic Development Posted in Carolinas, Internet/New Media, North Carolina, Telecommunications | Comments Off
Wednesday, April 28th, 2010
WASHINGTON, DC – The U.S. high-tech industry lost 245,600 jobs in 2009, for a total of 5.9 million workers. This recession-induced, four percent decline in tech employment is slightly lower than the five percent decline experienced by the private sector as a whole and follows four years of steady growth in tech industry employment.
TechAmerica Foundation‘s 2009 quarterly breakdown revealed a bright spot amidst the losses – software services added 10,100 jobs in the fourth quarter, growing by one percent. Not only that, at TechJournal South we found that many venture-backed companies are hiring (see: Job Hunting?) even as larger firms such as IBM continue to shed jobs.
“While it weathered the storm better than the private sector at large, the U.S. high-tech industry clearly felt the effect of the recession in 2009,” said Christopher W. Hansen, president of TechAmerica Foundation. “Every corner of the industry experienced job losses, though software services, which helped tech hold up longer than most at the recession’s onset, saw growth in Q4 2009.”
Every high-tech sector saw employment losses in 2009. Of the 245,600 jobs lost, 112,600 were in manufacturing, concentrated in sectors like electronic components and semiconductors. Space and defense systems manufacturing was least affected with employment declining by 0.5 percent, or 1,200 jobs.
Engineering and tech services also saw a net loss of 59,000 jobs, as did communications services, shedding 53,000 jobs. Software services experienced the smallest decline, losing 20,700 jobs, or one percent.
Cyberstates 2010 relies on data from the U.S. Bureau of Labor Statistics. The report provides 2009 national data on tech employment as well as 2008 national and state-by-state data on high-tech employment, wages, establishments, payroll, wage differential, and employment concentration.
Tech America CEO and president Phil Bond warned that DC policy makers need to take decisive action to fuel a full tech job recovery.
“Without decisive action, policymakers in Washington might not see the recovery that we’re all hoping for,” said Bond.
“Washington could help put more of America’s brightest minds to work by enacting a comprehensive innovation agenda. We continue to look for leadership in key areas like tax policy, broadband deployment, and workforce to support the creation of more well-paying tech jobs across the country.”
www.techamericafoundation.org
Tags: 2009, Tech America Cyberstates reports, tech jobs Posted in Alabama, Arkansas, Carolinas, Florida, Georgia, Kentucky, Maryland, North Carolina, Other SE, Potomac, South Carolina, Studies, surveys, reports, TechJobs, Tennessee, Virginia, Washington, DC, West Virginia | Comments Off
Wednesday, April 28th, 2010
ATLANTA – CDC Software Corp. (Nasdq:CDCS), which sells both on premise and cloud software, has secured $30 million in new financing from Wells Fargo Capital Finance.
CDC Software plans to use the four-year senior secured revolving credit facility for, among other things, general corporate purposes, strategic growth initiatives such as mergers and acquisitions, working capital and capital expenditures.
CDC Software’s solutions include enterprise resource planning (ERP), manufacturing operations management, enterprise manufacturing intelligence, supply chain management (demand management, order management and warehouse and transportation management), e-Commerce, human capital management, customer relationship management (CRM), complaint management and aged care solutions.
Tags: Atlanta, CDC Software, financing, IT, Wells Fargo Posted in Georgia, IT, Money | Comments Off
Wednesday, April 28th, 2010
COLLEGE PARK, MD - The Maryland Biotechnology Center is pumping $270,000 into biotech product development projects funded through the Maryland Industrial Partnerships program.
The Center recently signed off on initial funding for three projects. Each was in the second year of a two-year (phase 2) project. Three additional first-year projects were also made possible by freeing up MIPS funds to support them.
The three new projects are:
–Rockville-based Celek Pharmaceuticals and Susan Keay, professor, University of Baltimore: evaluating the efficacy of a novel therapeutic for interstitial cystitis/painful bladder syndrome, a chronic and debilitating bladder disorder.
– Rockville-based Cellphire Inc. and the University of Maryland Biotechnology Institute MDBioproSM (GMP Biomanufacturing Program): establishing a quality system and manufacturing processes for the current Good Manufacturing Practice (cGMP) production of the company’s freeze-dried platelet products for both diagnostic and therapeutic indications.
– College Park-based Zymetis Inc. and Robert M. Briber, professor, University of Maryland, College Park: developing low-cost solvent systems to reduce the crystallinity of native cellulose, reducing the need for enzymes in biomass digestion for the production of ethanol and other biofuels.
Tags: Biotech, Celek Pharma, Cellphire, Maryland, MIPS, Zymetis Posted in Biotech, Maryland, Money, Potomac | Comments Off
Wednesday, April 28th, 2010
By Allan Maurer
ATLANTA & RESEARCH TRIANGLE – The economic recovery is not jobless in venture-backed startups. Southern Capitol Ventures’ Jason Caplain tells us, “100 percent of our portfolio companies are hiring.”
In Atlanta, Noro-Moseley Partners portfolio companies list about 150 openings on its site.
Intersouth Partners, based in Durham, NC, says that 14 of 16 of its portfolio companies it surveyed are “hiring across the board.”
Caplain says many of Southern Capitol’s portfolio firms are staffing up in sales and marketing. Southern Capitol’s 11 portfolio companies include firms in Miami, RTP, Baltimore, Morrisville, Raleigh and Durham.
Noro-Moseley’s portfolio firms list jobs for network and systems engineers, security specialists, software engineers, a director of channel sales, a PR associate, and a project manager, among many others.
Intersouth tells us 14 of its companies plan to hire an average of 18 employees each this year with jobs open in both its tech and biotech companies.
Jobs across the board
Jobs are across the board – in sales, development, engineering, clinical, operations, marketing, says Intersouth spokesperson Suzanne Cantando.
We think a broader survey of the Southeast and in fact the nation would reveal that venture-backed startups and those bootstrapped, as well, are the real engine of job creation, not all these huge companies the government keeps pumping money into.
 Intersouth Partners Dennis Dougherty
Intersouth’s Dennis Dougherty points out that ““High-growth startups aren’t using the money they’ve raised to acquire real estate or build new buildings – they’re using it to hire people. If you take the amount of venture capital raised each quarter and multiply it by 80 percent, that’s probably about the amount of money that will be going to paying for jobs.”
Noro-Moseley’s Mike Elliott says all of its portfolio companies have positions open. “If we were an investor during the downturn, they were stripped to minimal staffs,” he says, “So now they’re beginning to put people in both C level and middle management positions.”
Eliot says that while he feels “We’re definitely coming out of the recession, I don’t think we’re going to come roaring out. We have to remain cautious.”
He adds, however, “That we would like to show the folks in DC that it’s the young companies that really create the fuel for growth.”
Tags: Atlanta, Baltimore, Dennis Dougherty, Durham, economic recovery, Intersouth Partners, Jason Caplain, jobs, Mike Eliot, Morrisville, NC, Noro Moseley Partners, Raleigh, RTP, Southern Capitol Ventures, startup company jobs Posted in Carolinas, Economic Development, Georgia, Healthcare, IT, Maryland, North Carolina, Pharma, Potomac, TechJobs | 3 Comments »
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