PAST PROGRAMS - 2005

JUNE 1, 2005

ISSUE FORUM

Angel Groups in Action: Funding Early Stage Innovation

June 01, 2005

Angel Groups in Action: Funding Early Stage Innovation

You’re an entrepreneur at a crucial junction in the early stage of your company. Your choices are to pull your bootstraps so tight they cut off circulation, ask the bank to further extend your loan, and deliver your elevator pitch at the next family function.

Or you can talk to an Angel.

The MIT Enterprise Forum, Inc. presents a rare insider’s look into the ever increasing role of Angel Investing in early stage technologies. Featuring a panel of experts from across the country, “Angel Groups in Action” will close the knowledge gap entrepreneurs and the tech community have of the practices and principles of angel investing.

Produced in association with the Angel Capital Association, program attendees and viewers will learn:

  • The truth behind common myths about angel investors;
  • Common mistakes entrepreneurs make when approaching angels;
  • The evolution of angel investing and how groups can and do organize effectively today; and
  • The future trends of angel investments.

We are please to have some of our regional angel investors joining us on site to participate as a local panel for and Q&A following the broadcast from Cambridge. Joining us will be Danny Aderholt, an angel investor from Wheeling, Tom Jones from Blue Tree Capital and Mel Pirchesky from Eagle Ventures.

Panelists:
Ed Roberts '57 | Speaker
MIT Sloan School of Management Professor and Founder of the MIT Entrepreneurship Center

Edward B. Roberts '57 is the David Sarnoff Professor of Management of Technology at MIT's Sloan School . He is considered by many to be the ultimate expert on entrepreneurial endeavors as he has literally written the book on high-tech business impresarios. His Entrepreneurs in High Technology won the Association of American Publishers Award for Outstanding Book in Business and Management. Additionally, Professor Roberts is Founder and Chair of the MIT Entrepreneurship Center, and his research includes major aspects of entrepreneurial approaches by existing companies. Professor Roberts is actively involved as a co-founder, board member, and angel investor in many high-tech startups. He has four degrees from MIT, a bachelor's and masters in electrical engineering, a master's in management, and a Ph.D. in economics.

James Geshwiler | Speaker
GMChairman of the Angel Capital Association and Managing Director of CommonAngels

James Geshwiler GM '00 is co-founder and chairman of the Angel Capital Association, fostering best practices and forming new angel groups across the country. He is also Managing Director of CommonAngels, and has participated in funding 18 companies through over 55 rounds of financing totaling over $100 million since 1999. Geshwiler is a contributing author to Cutting-Edge Practices in American Angel Investing, and has published papers through the Kauffman Foundation. He graduated Phi Beta Kappa from the University of Texas at Austin, received a master's in political science from UCLA, and his MBA from the MIT Sloan School.

Dan Roach | Moderator
Brown & Brown LLP.

Daniel Roach (moderator) is currently with the CPA firm Brown & Brown L.L.P., where he works with a portfolio of technology and services clients. Before joining Brown & Brown, Roach gained a strong operating background by working with several early stage technology companies where he assisted in establishing the finance function and raising capital. Prior to his financial advisory work, he was a Managing Director for Garage Technology Venture, a Palo Alto, CA based early stage venture fund and investment bank where he was responsible for generating deal flow as well as performing due diligence on potential investments. Roach received his bachelor's from the University of Rochester and his MBA from Northeastern University.

Jeffrey Sohl | Moderator
Director, Center for Venture Research
Whittemore School of Business and Economics, University of New Hampshire

Jeffrey Sohl is Director of the Center for Venture Research at the Whittemore School of Business and Economics at the University of New Hampshire, and a Professor of Entrepreneurship and Decision Sciences. Prior to UNH, he was a consultant to the Department of Energy on public policy analysis. He has presented his angel research around the globe and has written for numerous academic and business journals. Sohl also sits on the New Hampshire Governor's Advisory Committee on Capital Formation, and is on the advisory and editorial boards for numerous organizations and publications.

Jerry Schaufeld | Moderator

Jerry Schaufeld has a wealth of experience in entrepreneurship, management, and funding of technology-based companies. Schaufeld recently completed a term as director of the Slater Fund, a venture development firm. He was co-founder of Phoenix Controls, a member of the Navigator Technology Ventures Board and Launchpad Angels, and co-founder of Cherrystone Angels. In addition, Schaufeld was a founder and the first Chairman of the MIT Enterprise Forum.


May 18, 2005

ISSUE FORUM

International Issues: Growing Globally .. Issues for Emerging Companies

May 18, 2005

International Issues: Growing Globally .. Issues for Emerging Companies

The May program “International Issues: Growing Globally” is a program that is focused on entrepreneurs and is intended to sensitize to the opportunities and pitfalls of the international marketplace. We are fortunate to have our speaker John R. Tedeschi, SR, VP of Global Field Organization for MedRad, Inc. who has an outstanding background and will be sharing some lessons learned, the good and the bad, in building business through international channels.

The moderator for the evening is Tom Emerson, Ph. D. Director, Donald H. Jones Center for Entrepreneurship at Carnegie Mellon University Tepper School of Business. Our panel members include Ron Morris of the American Entrepreneur radio program, who has extensive international business experience and Bill Thorbecke successful businessman and entrepreneur of the MIT Enterprise Forum Board of Directors.

Panelists:
John Tedeschi | Speaker
Sr. VP - Global Sales & Service - MEDRAD

John R. Tedeschi has served in his current capacity as head of MEDRAD’s Global Field organizations since 1998. He has been a leader in the development of MEDRAD’s worldwide sales, technical service, and clinical application teams that have produced annual revenue growth rates of over 15% and customer satisfaction ratings consistently exceeding best in class benchmarks. John has been a driving force in growing MEDRAD’s international business through the establishment of direct sales organizations in twelve countries as well as regional support offices across the globe. During his career, MEDRAD’s international business has grown from less than 10% of total sales to about 38% of MEDRAD’s total sales today.

Mr. Tedeschi joined MEDRAD in 1983 to manage MEDRAD’s Latin American business. He was assigned to the Asia Pacific Region later that same year where he established a strong distributor network and a market leadership position for MEDRAD over the next six years. From 1989 to 1996, he lived in Europe where he established MEDRAD Europe BV (The Netherlands), as well as subsidiary operations in France, Italy, Germany, and the United Kingdom. Following his time in Europe, John accepted a two-year assignment in Osaka, Japan to establish another direct MEDRAD subsidiary, Nihon MEDRAD K.K.. Upon his full completion of this assignment, John returned to Corporate Headquarters to assume his present role.

Prior to joining MEDRAD, John worked in International Marketing for Joy Manufacturing Company in Pittsburgh PA, and as a Technical Sales Representative for Oakite Industries, Inc, Berkeley Hills, NJ.

John earned a B.S in Business Administration from Clarion University of Pennsylvania and a Master of Science in Management from Boston University and the Vrije Universiteit Brussels (Belgium).

Ron Morris | Speaker
Host - The American Entrepreneur

Ron Morris is host to The American Entrepreneur ("TAE"), the only radio talk show in Western Pennsylvania devoted exclusively to the subject of entrepreneurship. The program delves into all aspects of the entrepreneurial experience and, as such, it attracts individuals and organizations similarly inclined.

"We talk about all things entrepreneurial", said Morris, himself an entrepreneur since 1972. "We encourage people to consider starting their own enterprises and we also talk a lot about what it's like to work in an entrepreneurial venture. Perhaps most importantly, we help entrepreneurs of all stages to become better at what they do. With ten start-ups under my belt and a very sharp listening audience, I like to think that there is no problem that we cannot at least help the listener with."

Morris, 54, has been "at it" for over thirty years. In that time, he has started or helped to start a number of prominent firms in the Western Pennsylvania area, including: IGATE Capital (formerly Mastech Corporation), Rapidigm (Formerly ComputerPeople), MestaMed, and JDWarren, Inc. Of his ten startups, Morris often views his track record as “seven wins, two losses, and one tie.”

He has earned numerous accolades for his work. In 1999, he was the First Runner-up in the “Masters” category of Ernst and Young’s “Entrepreneur of the Year” award (ironically enough, losing only to Tony Renda, owner of TAE’S “home station”, WPTT). This past May, he was named the “Western Pennsylvania Small Business Journalist Advocate” of the year by the Western Pennsylvania chapter of the Small Business Administration.

More information can be found at: www.americanentrepreneur.net

William Thorbecke | Speaker
President - W.H. Thorbecke Associates

W.H. Thorbecke Associates, a company serving small and medium sized companies streamlining operations and assists in launching start up companies become profitable self-sustaining entities. In l982 he co-founded Energy Support Services, Inc. providing diverse services and products to the power, oil, chemical pharmaceutical, waste management and aviation industries. Previously he served as a senior executive of major corporations, Shell, Mobil Chemical and Dravo where he built up business enterprises comprising total assets of over $2 billion. During his career he consummated 14 acquisitions, formed 28 joint ventures, and identified and implemented more than 100 internal growth programs.

Bill is a MIT graduate and has degrees in Engineering and Business Administration. He has served as a director of the World Affairs Council of Pittsburgh, a director of the Pittsburgh Council for International Visitors, a member of the American Management Associations International Management Division Council and a member of the National Association of Corporate Directors. He has been elected 3 times as Chairman of the MIT Enterprise Forum Pittsburgh Region and frequently speaks about entrepreneurship and financing of start-up ventures to local community groups.

Linda Schultz | Speaker
Risk Management Consultant - Hilb Rogal & Hobbs

Linda Schultz is a Risk Management Consultant, broker, and client executive at HRH. Hilb Rogal & Hobbs (HRH) is the seventh largest insurance brokerage firm in the United States, with over 120 offices throughout the nation. Her background of ten years claims experience, with four years of that time as a supervisor or manager for property and litigation claims, combined with her six years of underwriting experience, enables her to look at the comprehensive picture of a client's exposures. She also has her Associates in Risk Management certification as well as her Associates in Insurance Claims certification. She currently writes a weekly risk management column for the online newsletter, "techyvent.com"

Linda began her insurance career as a property claims representative with GAB Business Services, before moving to Travelers Insurance where she held the progressive positions of property claims representative, liability and auto claims representative, litigation manager, and casualty claims supervisor. She then joined the Chubb Group of Insurance Companies as and property and casualty claims supervisor, before progressing to liability claims assistant manager. She then moved to the underwriting side of the company, starting as a commercial underwriter where she handled the programs for mid-size and larger risk management clients.

As the Technology Department of Chubb grew, Linda became the Technology and Telecommunications underwriter at Chubb's office in Pittsburgh, focusing particularly on start up and emerging companies. Before joining HRH, Linda most recent position was as Senior Underwriter and Life Science Specialist with responsibility for all of Western and Central Pennsylvania.

S. Thomas Emerson | Moderator
Director - Donald H. Jones center for Entrepreneurship, CMU

S. Thomas Emerson, Ph. D. is an experienced entrepreneur, corporate executive and educator. He is the David T. and Lindsay J. Morgenthaler Professor of Entrepreneurship and serves as Director of the Donald H. Jones Center for Entrepreneurship at Carnegie Mellon University in Pittsburgh, Pennsylvania where he is a full-time faculty member. Prior to joining Carnegie Mellon, he was President and CEO of Arizona Technology Incubator, a public-private partnership in Scottsdale, Arizona that mentors promising young technology companies. Prior to ATI, he founded and built three venture capital backed high technology companies: Periphonics Corporation of Bohemia, NY and Syntellect Inc. and Xantel Corporation of Phoenix, AZ. Two of these companies (Periphonics and Syntellect) became NASDAQ-listed national market companies. They created in aggregate more than $600 million in shareholder value.

Dr. Emerson holds four U.S. patents and a number of foreign patents and has authored more than 20 technical and scientific publications and numerous business articles. He was named Inventor of the Year by the U.S. Patent Office in 1973 for a highly innovative patent in the voice-processing field, and was named Entrepreneurial Fellow of the University of Arizona in 1986. Inc. Magazine and Arthur Young & Co. named him Arizona’s High-Technology Entrepreneur of the Year in 1989. The Dean's Council of 100 at Arizona State University named him Arizona's Entrepreneur of the Year in 1990. In 2000 he received the Technology Leadership Award from the Arizona Software and Internet Association. He has served as a director of public companies listed on the NASDAQ national market, AMEX and NYSE exchanges, as well as a number of early-stage companies.

Dr. Emerson earned M.A. and Ph. D. degrees in physics from Rice University, Houston, TX, and an S.B. in physics from Massachusetts Institute of Technology, Cambridge, MA.

April 20, 2005

ISSUE FORUM

Getting Your Money Back: Government Support and Funding of Early Stage Ventures

April 20, 2005

Getting Your Money Back: Government Support and Funding of Early Stage Ventures

Many companies overlook the multitude of support and funding opportunities from government agencies of all kinds. This can be a big mistake, since many programs are readily available and funding from the government is an investors dream. Money into the capital structure without dilution.

The presenter at this Forum will be focusing on the experience of Caracal Inc., a startup company planning to manufacture larger and more efficient silicon carbide wafers that are used in power transformer equipment. Caracal has about 80% of its capital to date provided by an astonishing array of federal, state and local government agencies and is also the beneficiary of numerous government programs that will lower its cost of operations going forward. Caracal had its grand opening in February, with Gov Rendell on hand to present them with a new check for almost a million dollars.

Entrepreneurs and established businesses will all get take-home value from this month’s forum. Rajiv Enand, the CEO of Caracal, will tell us what programs work for him and what makes his company an eligible and attractive candidate for government funding. The presentation will be supported by our expert panel, representing private and public organizations that exist to help companies get government money
Panelists:
Chris Ryan | Moderator
President - Geo-Solutions Inc.

Chris Ryan is the founder and President of Geo-Solutions Inc. This firm provides construction consulting services to owners, engineers and contractors on projects involving soil and groundwater. The company operates on sites around the US and around the world. Previously, he had founded Geo-Con Inc., a specialty construction company with operations nationwide. The company reached revenues of $50 million before being acquired by a strategic investor in 1995.

Geo-Solutions is currently constructing a new headquarters for itself and is the beneficiary of the PA KOZ program that provides tax free business locations and the Federal Hub Zone program that offers a 10% bidding advantage against competitors.

Rajiv Enand | Speaker
CEO - Caracal

Mr. Rajiv Enand is currently the President and CEO of Caracal. Mr. Enand is a seasoned tech entrepreneur who is active in the tech community in Western Pennsylvania. Prior to founding Caracal, Mr. Enand co-founded ServiceWare Inc. (NASD: SVWN.OB), a leading provider of knowledge-powered applications for customer service and IT support. Mr. Enand was instrumental in growing the company from a startup in his partner’s basement to one of the world's leading providers of knowledge based software and content to the customer support market. During the years 1993-2000, the company raised over $30M in venture capital from leading venture capital firms around the country. Mr. Enand left his role as CEO/Chairman of the company in 2000, commensurate with the company’s IPO.

More information can be found at: www.caracalsemi.com

Donna Constantino-Riling | Speaker
Manager, Business Finance - Southwest Pennsylvania Corporation

Donna Costantino-Riling is the Manager of Business Finance of the Southwestern Pennsylvania Corporation/Commission, the region’s state and federally designated metropolitan planning agency and local development district. She manages a total portfolio of over 20 million dollars consisting of over 150 clients. Her responsibilities include providing gap financing for eligible companies using state and federal low interest loan programs. She also provides companies with business renewal and turnaround assistance. Donna has also been active in assisting local companies that were affected by the recent flooding to acquire grants and loan funds from FEMA and the SBA Disaster Loan Recovery Programs.

Donna’s background includes 15 years in banking and 8 years as a small business owner. This has prepared her to understand the needs of the small business community regarding financing, and staffing issues unique to this region. She was the co-owner /founder of a Recreational Vehicle Sales Dealership, specializing in sales and service. Her dealership received national sales awards for three consecutive years from Starcraft Industries including the National Sales Leader Award in 1988.

Donna has participated as a judge for the Seton Hill College Business Plan Competition and speaker at the SBA/Women’s Economic Development Outreach Tour (WEDO) and co-instructor at Robert Morris University’s Veterans FastTrac Business Planning Class. Donna holds a Bachelor of Science in Accounting from Carlow Universitiy and received certification as an Economic Development Finance Professional from the National Development Council in 2000.

More information can be found at: www.spcregion.org

Joe Kuklis | Speaker
Principal - GSP Consulting

Joe Kuklis co-founded GSP Consulting Corp. with John Dick in February of 2001. Since starting the firm, Joe has served as a lobbyist and government affairs consultant, working on both federal and state related issues. Prior to starting GSP Consulting Corp., Joe served as Deputy State Director for U.S. Senator Rick Santorum, acting as the Senator’s liaison and primary contact point for corporations, businesses, non-profit organizations, colleges & universities, community & advocacy groups, elected officials and governmental agencies.

In 2000, Joe served as a member of County Executive Jim Roddey’s New Idea Factory, working to develop an aggressive public policy agenda to foster economic development. Joe also became a Pittsburgh Regional Champion in 2000, serving as a grassroots volunteer to promote all assets of the Pittsburgh market. In 2001, Joe was named as one of Pittsburgh’s Top 40 Under 40 by Pittsburgh Magazine, WQED and PUMP, for his work with GSP.

Since 1994, Joe has been active in statewide politics. He has participated in many of the region’s latest political campaigns and served as the Allegheny County Republican Committee’s Regional Development Director from mid-1996 through May of 2000. As Regional Development Director for the South Hills, Joe was responsible for recruiting new candidates for local Republican Committee posts in twenty South Hills municipalities.

Joe graduated from the University of Pittsburgh in 1994 with a double major in Political Science and Western Europeans Studies with a focus on Germany and with Minors in Economics, American History, European History and English. He remains active in his community and volunteers annually for the Juvenile Diabetes Walk for the Cure, the Big Brothers & Big Sisters bowl-a-thon and the United Way Days of Caring

More information can be found at: www.gspconsulting.com

Tim Deis | Speaker
Director of SBIR Programs - Catalyst Connection

Timothy Deis has 20 years of experience in technology development, proposal writing, program management and entrepreneurial activities. At Catalyst Connection, he is responsible for assisting regional companies in identifying and pursuing new product opportunities, and seeking out federal government funding for research and development projects, with a primary focus on the Small Business Innovation Research program. He is also a member of the executive committee of the Innovation Partnership, helping to develop Pennsylvania’s strategy to increase federal government funding flowing to companies.

Prior to joining Catalyst Connection and the Council, Mr. Deis founded and managed Applied Electro-Optics Corporation (AEC), which licensed technology from Carnegie Mellon University and developed it for applications in several capital equipment markets. In his career, Mr. Deis has worked on a broad range of technologies, managed proposal efforts to various government agencies and executed many programs that were awarded on a competitive basis. Mr. Deis holds a B.S. in Mechanical Engineering from Michigan State University, an M.S. in Mechanical Engineering from Carnegie Mellon University and an M.B.A. from the University of Pittsburgh.

More information can be found at: www.catalystconnection.org

March 16, 2005

ISSUE FORUM

When Your Technology Is Ahead of the Market Curve

March 16, 2005

When Your Technology Is Ahead of the Market Curve

Being “ahead of the curve” is often claimed as a badge of honor, signifying an ability to be at a destination (preferably with just what we’ll find we need when we get there) before the rest of us. But if we take too long to catch up, or, worse, are on a different curve altogether, being “ahead of the curve” can turn out to mean failure for the company launching a new technology. Some of the greatest rewards and deepest frustrations may come from being being first with a solution in a marketplace that has yet to recognize the problem being solved. The scale of the reward or depth of the frustration may be functions of the distance to be traveled to traverse that curve and whether it can be bisected or the journey accelerated by the right market strategy.
Panelists:
Andrew Norman | Speaker
President & Founder - Knosis, Inc.

Andy Norman served as an interface designer and senior project manager for MAYA Design's Human Sciences Group from 1999-2002. Prior to that, he was a tenured professor of philosophy at Hamilton College, where he taught logic, practical reasoning and critical thinking skills. His unique interdisciplinary research agenda led to publications dealing with knowledge systems, the logic of inquiry, learning and decision theory, and technology's impact on human perception and practices. Andy graduated Phi Beta Kappa from Wesleyan University and has a Ph.D. from Northwestern University.

About Knosis (www.knosis.com): Knosis helps educators, training and development professionals and forward-thinking leaders impart the thinking and communication skills that knowledge professionals need to excel in today's information-rich environments. The Company’s unique system empowers people to combat overload, attain clarity, command attention, and communicate with power. Its flagship product is a software "thought processor" that lets you see the logic of your thinking. Argutect opens a window into the world of ideas, so you can assemble compelling lines of thought in an intuitive, drag-and-drop environment. Graphical cues and context-sensitive logic help promote clarity, critical thinking, and effective communication. Results are easily exported into presentation software or a word processor. Knosis also teaches The ArgutectTM Method: a step-by-step approach to preparing written documents that are clear, persuasive and actionable.

Roger Byford | Speaker
CTO & Founder - Vocollect, Inc.

Roger Byford, one of the founders of the company, currently serves as chairman of the board of directors and chief technology officer of Vocollect, and has nearly 20 years of experience in the industrial application of speech technologies. As Vocollect’s CTO, Mr. Byford is involved in all aspects of the design and engineering of Vocollect’s voice-directed distribution systems. Prior to joining Vocollect, Mr. Byford served as engineering manager for Westinghouse Voice Systems, known for pioneering work in voice technology applications. He also worked for Westinghouse’s corporate Research and Development Center, where he collaborated to develop a voice-based access control system for apartment building elevators. Mr. Byford is a registered professional engineer, holds one U.K. and three U.S. patents, and earned his MA in Electrical Engineering from Cambridge University.

About Vocollect (www.vocollect.com): With more than 60,000 users at hundreds of companies and locations throughout Asia Pacific, Europe and North America, Vocollect has deployed more integrated voice-directed distribution systems than any other company. Together, its market-leading Talkman® wearable computer and integrated software suite cut operating costs by eliminating errors and improving worker productivity shift after shift. The company collaborates with a premier global network of systems integrators and leading WMS providers to serve warehousing customers in a wide range of industries. Using a real-time, working dialog, warehouse staff input data into their WMS - and work "hands-free, eyes-free™." With voice-directed applications and the Talkman belt-worn, ergonomic design, workers stay focused on the job at hand - they're not reading a screen, pick list, or purchase order; keying in data; or juggling both product and an input device. Vocollect’s systems are currently at work in a variety of applications ranging from picking, receiving, replenishment and other critical distribution functions, to quality control and data collection - virtually any function where it's faster and easier for people to speak aloud, than to enter data manually.

Bill Kaigler | Speaker
Founder & President - medSage, Inc.

Bill Kaigler has more than 18 years experience in product management, business development, project management, engineering, and marketing in the business to business technology and medical device manufacturing industries. During his career, he successfully launched more than a dozen new products, was awarded more than ten patents for his innovations and served as marketing manager for corporate oxygen products. Before starting medSage, Bill served as Vice President of Product Management for Moai Technologies Inc. (originally Medebiz): an Internet start-up software company specializing in e-sourcing and B2B healthcare contract management currently operating in Pittsburgh, Pennsylvania, and as Director of New Ventures, Respironics Inc. (corporate venture development and research and development organization). Bill has a Master of Science Degree in Industrial Administration from Carnegie Mellon University Graduate School of Industrial Administration and a Bachelor of Science Degree in Mechanical Engineering from West Virginia University.

About medSage (www.medsagetechnologies.com): Founded in 2002 by William Kaigler, Mike Sturdevant and Nancy Nunley, medSage has brought together a talented team of professionals from the home healthcare, software and medical device industries committed to solving problems for home healthcare pharmacies. medSage Technologies invented and pioneered a revolutionary Patient Management System for the home healthcare provider and respiratory pharmacy industry.

The medSage Patient Management System provides benefits critical to a business’s survival in today’s environment to: Dramatically increase call center productivity; Reduce call center costs while improving quality of care delivered; Increase provider revenues with higher reorder frequency and improved patient compliance; Increase new patient referrals and reduce program attrition; Reduce or eliminate emergency orders and Leverage outcomes data to support joint commission compliance and improve quality of care medSage provides an end to end solution designed to scale to any size pharmacy or home medical equipment provider. Our hosted solution is ideally suited for the small to medium sized provider. The online hosted solution can be accessed using Microsoft Explorer 5.0. Enterprise solutions, suited for larger organizations, can be installed behind the customer’s firewall and fully integrated with back office applications.

Jack Roseman | Moderator
MIT Forum Board

Jack Roseman was formerly the John R. Thorne Professor of Entrepreneurship at Carnegie Mellon University where he taught for 13 years. Prior to that, he was the founder of three companies and President of On-Line Systems, an American Stock Exchange company eventually sold to Sprint. A serial entrepreneur and award-winning educator, Jack has been described as a wise, warm, insightful and often amusing guide to the realities of owning your own business. His book, “Outrageous Optimism” prompted one reviewer to call it possibly the best business book of 2004.

David Smith | Speaker
MIT Forum Board

David Smith is a corporate lawyer focusing on intellectual property and biotechnology issues, is of counsel with Pepper Hamilton LLP, resident in the Pittsburgh office. He provides legal counsel to emerging high-technology companies. Mr. Smith's intellectual property-related work includes IP transactions, regulatory issues and licensing. His corporate practice is concentrated in the organization, financing and growth of life sciences companies, and he is an authority on the legal issues surrounding the use of human biological materials.

He is a founder and principal of Teregenics, LLC, a company formed in 2003 that provides strategic product development analysis and consulting services to institutional investors, research centers and companies participating in developing human tissue engineering and regeneration technologies. From 2000 to 2003, Mr. Smith was senior vice president and general counsel of TissueInformatics.Inc, a bioinformatics company, until its merger with Icoria, Inc. Before that, he was of counsel at Reed Smith, LLP and led the development of that firm’s biotechnology practice in Pittsburgh.

David is an adjunct professor in Carnegie Mellon University’s Department of Engineering and Public Policy, and he frequently speaks at other universities and trade conferences on the commercialization of engineered tissue products and regenerative therapies. He is active in a number of trade organizations and serves on the executive committee of Tissue Engineering Society International, as secretary of the MIT Enterprise Forum of Pittsburgh and as secretary of the Pittsburgh Tissue Engineering Initiative, Inc. He is a past member of the board of directors of the Pennsylvania Biotechnology Association.

February 16, 2005

ISSUE FORUM

STUDENT PROGRAM: "You did what when you were how old?" ...success stories of companies started right out of school

February 16, 2005

STUDENT PROGRAM: "You did what when you were how old?" ...success stories of companies started right out of school

At 4:30 PM, the program kicks off with local, young entrepreneurs who began pursuing their dreams right out of college. Rich Linuk, the newly named President & CEO of Innovation Works will moderate the discussion and describe the ways IW can help fund such ventures. The panel of local entrepreneurs includes:

  • Tim Burns, President of TechRx
  • Gautam Gandhi, President of ClearCount Medical Solutions Inc.
  • Mona McGraw, President of NuRelm
  • Luke Skurman, CEO of College Prowler

At 6:30 PM, the main event will feature one of MIT’s brightest stars – Ian Eslick, who graduated from MIT in 1996 with a Bachelor and Masters Degrees in Electrical Engineering and Computer Science. Jessica B. Lee, local advisor to early-stage and emerging growth businesses and founder of the weekly Entrepreneurial Thursdays program in Pittsburgh, will introduce Eslick and field questions from the audience after his keynote address.

Eslick and two fellow MIT alumni founded Silicon Spice, Inc., a communications company commercializing technology based on work done for a school project. The company’s innovations drove a shift in the telecommunications market by delivering radical improvements in the economics of large-scale, carrier-class packet voice transport. After raising over $90 million in capital, his 120-person corporation was acquired by Broadcom Corporation in 2000 for $1.2 billion.

During the networking session from 5:30 to 6:30 and continuing after Eslick’s address, the audience will have the opportunity to network with some of the region’s most innovative business executives who mentor, encourage, and in many cases, hire those students. The knowledge and networking opportunities gained through this event will also empower students to act on their energy, ideas, and talent to contribute to – or even produce – tomorrow’s leading entrepreneurial ventures.

Steve Franks of the Pittsburgh Technology Council will introduce the Tech Council’s program for students and be available throughout the evening to discuss their programs.

Virginia Flavin Pribanic, chair of MIT Enterprise Forum of Pittsburgh, is convinced that the key to this region’s success will be our ability to bring together diverse communities with a common agenda – the desire to create new ventures.

“The Forum is comprised of an extraordinary audience – a seasoned community – with the expertise to support incredible growth. Combine this strength with the energy and innovation of our colleges and universities, and you have a remarkable force for success that will become the basis of this region’s new economy. The lessons learned in the classroom literally come to life when we bring these students to the Forums. Students network with experienced entrepreneurs who have built companies; with those who fund ventures; with legal, marketing, accounting experts and more – all of whom are eager to help promote start-ups in this region.”

Panelists:
Rich Lunak | Moderator
President & CEO - Innovationworks

Rich Lunak is an experienced entrepreneur who helped lead a three-person, local start-up, Automated Healthcare, to a $65 million acquisition by McKesson Corporation, the nation’s 16th largest company. Rich was a key executive during the company’s earliest stages, helped raise $13 million in financing, oversaw the commercialization of multiple products, managed the company through rapid growth in sales and employees, and created a smooth transition when acquired by McKesson. As Group President, McKesson Automation, Rich led five autonomous business units which created and maintained nearly 500 local engineering and manufacturing jobs and employs more than 1,600 nationally. He was responsible for acquiring new technologies and the design, development and rollout of numerous robotic, automated and software products that are installed in leading healthcare providers across the country and around the world.

A technologist as well as an entrepreneur, Rich Lunak received a Bachelor’s Degree in Electrical and Computer Engineering from Carnegie Mellon, a Master’s Degree in Business Administration from the University of Pittsburgh, and holds several U.S. patents. He is a guest lecturer at the University of Pittsburgh and Carnegie Mellon and is a member of the Board of Directors of the Pittsburgh Technology Council, the Technology Collaborative (previously the Pittsburgh Robotics Initiative), and serves on the Carnegie Mellon School of Engineering Advisory Board.

Jessica B. Lee, J.D. | Moderator

For over ten years, Jessica Lee has advised early-stage and emerging growth businesses as an investment banker, outside general counsel and business/investment counsel, and institutional venture capital investor with an emphasis on the financial, technology and life sciences sectors. She has served as an advisor to, and as an executive/entrepreneur-in-residence with, both institutional investors and with early-stage and emerging growth businesses on matters such as strategic planning, business development, securities regulatory compliance, financing strategy, business combinations and joint ventures, corporate partnering, facilitation and mediation, and human capital.

Prior to founding her own firm, Ms. Lee had served as a partner at the financial and business law firm of Santone, Sweat & Passarello, LLP; and, prior to that position, as an associate in the Business and Finance Law Department of Titus & McConomy, LLP (formerly Cindrich & Titus). Jessica holds a J.D. from the Duke University School of Law, and a B.A. from Duke University, both in Durham, NC.; has been trained as a facilitator and mediator of management team and business matters through the National Association of Securities Dealers (NASD) Business Mediation Training Program; is a member of the American Bar Association licensed to practice in Pennsylvania and before the U.S. Tax Court; and holds the following investment advisory and investment banking National Association of Securities Dealers licenses: Series 7, 24, 63, and 65.

Mona McGraw | Speaker
President - NuRelm

Mona McGraw is President and Co-Founder of NuRelm, Inc. NuRelm is a profitable 4-year old Internet software and E-business solutions firm headquartered in Uniontown, PA. NuRelm is an Innovation Works portfolio company that has also received investments from the CL Fund, Endeavor Capital Management, and Fay-Penn Economic Development Council.

Mona holds an M.S. in Business Administration and two undergraduate degrees in Marketing and English. Prior to founding NuRelm, she held management and business development positions at Kaiser Permanente and IDX. Mona was recently appointed by Governor Rendell to serve on the PA Workforce Investment Board. She also serves on the Pittsburgh-based Tech Action GroupBoard of Directors, an advocacy group made up of Pittsburgh area CEOs of rapid growth technology firms.

Gautam Gandhi | Speaker
ClearCount Medical Solutions Inc.

Gautam Gandhi along with Steve Fleck are the co-founders of ClearCount Medical Solutions. My vision in graduate school was to become an entrepreneur that would also make a social impact. When we first heard about the problem of retained surgical sponges and instruments, we were both appalled. My partner and I got together and thought there must be a better way for nurses to track these items than the current system of manual counting. Conceptualized in an entrepreneurship course project, ClearCount became a funded company soon after graduation.

Gautam Gandhi and Steve Fleck are both recipients of the Roseman - Canfield Entrepreneur of the Year from the Tepper School of Business. Gautam Gandhi has a worked previously for Microsoft, Fidelity Investments and also has a B.S. in Information Decision Systems and Industrial Management from Carnegie Mellon University. Steve holds a degree in Applied Physics and Bioengineering from Cornell University and has worked for CardiacAssist and Boehringer Laboratories.

Michael Kobold | Speaker
Founder - Kobold Watch Company

Michael Kobold was born in Frankfurt, Germany into a family of entrepreneurs. Despite strong doubts from school officials, he graduated with exemplary marks from Frankfurt International School, having completed the rigorous International Baccalaureate (IB) Program. He attended Carnegie Mellon University in Pittsburgh, where he graduated after just three years with a Bachelor of Science degree in economics.

Mr. Kobold is an avid entrepreneur, having launched more than a dozen ventures. His first company was a not-for-profit organization that sells candy to students in an effort to raise funds for extra-curricular school activities. The successful operation of this company, CSFRC, was taken over by Frankfurt International School. For two years he worked as an assistant driving instructor at an elite driving school in Germany, specializing in anti-terrorism tactical driving. He also founded Kobold Watch Company, which manufactures wristwatches for professional use. The company‚s products are regarded by the international watch press as being among the world‚s top ten in their class and rival those of Rolex, Breitling, Omega, and IWC.

A frontrunner in the industry‚s technological advancements, the Kobold Watch Company was the first and only watch company to sell its products factory direct via the Internet. The website was also a pioneer in launching its three-dimensional technology and virtual assistant, Chloe.

Ian Eslick | Speaker
MIT Entrepreneur

Ian Eslick graduated from MIT in 1996 with a Bachelor and Masters Degrees in Electrical Engineering and Computer Science. Jessica B. Lee, local advisor to early-stage and emerging growth businesses and founder of the weekly Entrepreneurial Thursdays program in Pittsburgh, will introduce Eslick and field questions from the audience after his keynote address.

Eslick and two fellow MIT alumni founded Silicon Spice, Inc., a communications company commercializing technology based on work done for a school project. The company’s innovations drove a shift in the telecommunications market by delivering radical improvements in the economics of large-scale, carrier-class packet voice transport. After raising over $90 million in capital, his 120-person corporation was acquired by Broadcom Corporation in 2000 for $1.2 billion.

Today, Eslick is a research affiliate of the MIT Computer Science and Artificial Intelligence Laboratory and a graduate student at the MIT Media Lab working on a research program that aims to dramatically increase the effective intelligence of the human-computer interface as well as deepen our understanding of human cognition.

Joey Rahimi | Speaker
Chief Marketing Officer - College Prowler

Joey Rahimi oversees all online marketing, book production, and fulfillment and is the glue that holds College Prowler together. Joey has excellent intuition which guides him and makes him an amazing business man who is constantly wearing more than one hat. Joey has a rare blend of culture, education and experience. Joey is the ultimate at understanding a problem and dissecting it in order to find the most optimal strategy and then is able to teach and guide everyone around him. He holds a BS from Carnegie Mellon and is from Manhattan.

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