CED News

The internet economy continues to grow and evolve with new business models, innovative ideas and paradigm shifting technologies. The goal of the Internet Summit is to promote forward thinking and thought leadership on topics related to internet technologies and web 2.0. The event will take place November 19 at the Friday Center in Chapel Hill and will spotlight the spirit of prosperity through evolving internet and web 2.0 technologies.

The Internet Summit will feature hundreds of executives, business strategists, entrepreneurs, investors and marketers for expert content on internet trends and opportunities created by web 2.0 technologies, social media, online advertising, widgets, online video and other essential new web oriented technologies. Register today to hear from industry leaders and innovators on the future of the industry, how to capitalize on the shifting dynamics of the internet and tap into its unlimited business potential. Be sure to visit CED's on site lounge for a meet and great with all of the speakers and panelists.

For more information on the Internet Summit, please visit www.internetsummitevent.com or contact Jessica Hegele at 919.549.7500 x103.

CED's 18th annual Biotech Conference, happening February 16-17 at the new Raleigh Convention Center, will unite the Southeast's life science community to celebrate one of the biotech industry's most dynamic regions. This two-day conference will feature world-class speakers and panelists, such as the honorable James C. Greenwood, president and CEO of the Biotechnology Industry Organization (BIO) and Dennis Gillings, chairman and CEO of Quintiles Transnational Corp.

Join industry executives, including the region's most innovative biotech entrepreneurs, major pharmaceutical companies, research leaders, policy makers and nationally prominent investors at the Southeast's premier life science event- CED's Biotech 2009.

For more information on CED's Biotech conference, including registration and sponsorship information, visit www.cednc.org/biotech.

Thank you to the newest members to join CED, the oldest and largest entrepreneurial support organization in the nation, during the month of August.

-Prestige Writing Services
-Scisbo
-Shoeboxed Inc
-Moore County Partners in Progress/Economic Development
-DosePoint Inc
-Atlantic Research Group, Inc.
-Schooldude.com
-Endacea Inc.
-Precision Human Biolaboratory
-NC State MBA Program
-Spectrum Mobile, Inc.
-Proventys Inc
-Plan 365
-ACC Staffing, Inc.
-Overture Networks
-Bandwidth.com Inc.
-Colliers Pinkard
-Core Communications
-QSpex Technologies, Inc.
-Innovalyst
-Aaron Mazze
-Derek Walter
-Dennis Ewald
-Robert Alan Jameson
-Pamela Bunes
-Paul Feirstein
-Hugh Dawson
-Michael Friedrich Ackermann
-Jay Finnigan
-Ryan Smith
-Peter Ginsberg
-Jitin Asnaani
-Jerzy "George" Szewczyk
-Perry Genova
-David Wade Ballard
-Jonathan Lima

Not a CED Member? Click here to join today and save on your next conference or program registration!

Thirty-five (35) start-up entrepreneurs graduated from the fall session of FastTrac® TechVenture™. Among the emerging graduates were companies in the life science and technology industries all boasting innovative ideas and products.

For the first time, the fall session of FastTrac® TechVenture™ was held in conjunction with the South Florida Technology Alliance (SFTA). This allowed entrepreneurs to take FastTrac® TechVenture™ remotely from the Entrepreneurial Development Center (EDC) in South Florida.

Fall 2008 FastTrac® TechVenture™ Graduates Include:

• Endls Optics, developers of a novel optical diagnostic tool that aids in the clinical diagnosis and treatment of cancer.
• Medical Reimbursement Data Management, a company that analyzes, designs and implements reimbursement and marketing solutions for life science companies.
• TheraBrux LLC, a company commercializing the taste-based approach to the prevention of teeth clenching and grinding.
• Thermocline Ventures LLC, developers of a device that prevents the drowning of children.
• Neoage Services LLC, a technology services company.
• Contributravel.com, an online travel provider combined with a fundraiser.
• Spoonflower, Inc., a custom fabric printing company for crafters.
• Starlinked, a company offering an online astrology-based matchmaking service.
• Intellus, Inc., an IT asset management company.
• Motorstats.com, developers of a Web application used for managing and publishing race statistics.
• Showlogic, makers of a presentation platform for marketing and sales professionals.
• Geotourguide, providers of statistical signal processing for Department of Defense applications.
• Hortsources.com, a Website designed for horticulturalist to find information and resources.
• iQuest, developers of software solutions and tools to support the development process of computer and video games for PC and game consoles.
• Light PBX, providers of virtual PBX services to small businesses nationwide.
• SaferBites.com, an online service to help people manage specialized diets.
• VisibleEnergy, Inc., developers of Web-based methods to give homeowners more insight into their energy usage.
• ANALYTRIX, a company that helps find answers to questions people do not know to ask.
• Zaloni, Inc., a company that manages, publishes and shares scientific and research data via a collaboration platform.
• Cranky Creative Group, a brand promotion company.
• Athena Learning Group, Inc., a teacher search service for home schooling parents and children.
• Accelogic LLC, accelerating numerical linear algebra problems through algorithms in reconfigurable/FPGA computing.
• Deluo LLC, offering accessory consumer electronics for people on the go.
• BlackboxGPS, providers of asset tracking solutions.
• Eden Engineering, Inc., providers of computing and networking resources.
• Ergret Technologies, Inc., an engineering design services firm.
• Greene System, LLC, providers of software and hardware solutions for CISCO AXP platform.
• Neway Systems & Products, developers of manufacturing systems and products.
• Strategic Points LLC, developers of Web services and technology that generate web surfer profiles of data.

About FastTrac® TechVenture™:

FastTrac® TechVenture™ is a comprehensive business training program that addresses the needs of start-up entrepreneurs refining and writing their business plans and seeking to grow sustainable high-impact companies. The program combines one-on-one coaching, peer learning, guest speakers and comprehensive tools to help entrepreneurs produce solid business plans and strategies.

For more information or to register for the next class beginning October 7, click here or contact Dhruv Patel at 919.549.7500 x118.

CED announces thirteen (13) additions to their 2008-2009 board of directors. New board members consist of key investors, business professionals and university leaders from across the Triangle.

New additions to the board include:

• Greg Anglum, partner, Grant Thornton LLP
• Steven Burke, vice president of corporate affairs, North Carolina Biotechnology Center
• David Finch, president and CEO, ATCOM Business Telecom Solutions
• Vipin Garg, president and CEO, Tranzyme Inc.
• Brian Handly, senior vice president of sales, Microsoft Corporation
• Kevin Johnson, vice president of business development, Research Triangle Foundation of North Carolina
• Karen LeVert, president and CEO, Southeast Tech Inventures Inc.
• Chris Lynch, attorney, Wyrick Robbins Yates & Ponton LLP
• Greg Owen, senior vice president, relationship manager, Wachovia
• John Paris, partner, Williams Mullen
• Jack Sheffield, managing director, Deutsche Bank Alex. Brown
• David Spitz, vice president, Channel Advisor
• Garheng Kong, partner, Intersouth Partners
• Ted Zoller, executive director, UNC Kenan-Flagler Business School

Stephen Wiehe, president and CEO of SciQuest, Inc., will serve as CED's chair for 2008-2009. Wiehe succeeds Mary Musacchia as chair.

CED's 2008-2009 executive committee officers include Stephen Wiehe (chair), Kent Christison (secretary), Greg Anglum (treasurer), Michael Elliot (chair-elect), Mary Musacchia, Susan Acker-Walsh, Jason Caplain, John Fogg, Richard Harris, Chris Kroeger, Steve Nelson, and Anastasia Pucci.

Click here to view the complete list of CED's 2008-2009 board of directors (including new members and returning members).

CED also introduces Stephanie Dorko as the new director of development. Prior to joining CED, Dorko worked as a fundraiser on numerous political campaigns, most recently for State Treasurer Richard Moore. She also worked as vice president of government affairs for the Charlotte Chamber of Commerce and is a Phi Beta Kappa graduate of Trinity College in Washington, DC. Dorko is a native of Greensboro, North Carolina.

Ron Harman, president of CTO Outsourcing and CED member since 2007, writes about the software needs of startups. Harman has actively participated in CED's Entrepreneurs Only Workshop and Innovators Workshop.

For many startups, a core business requirement is the creation of custom software. This forces the entrepreneurs and CEOs into the uncomfortable role of defining the software, choosing the platform and managing technical staff. Unfortunately, for the entrepreneurial CEO, there are few resources dedicated to assisting small companies in navigating the technology labyrinth of acronyms and technicalese. And even for experienced technologists, the outlook is not bright. Depending on the study, estimates on software development failures range from 30% to 70%. These studies are based on large companies with vast resources. It would be arguable the failure rate for startups would be even higher.

There are two components of software development that contribute to high failure rates. One is the company's capability to managing the complexities of producing quality software. The other is how the company views software development in general. A discussion on adapting software development processes for the start-up is outside the scope of this article. The focus will instead be on how the entrepreneur should view software development as a whole. Without an appropriate mind-set, the expectation will not be in sync with the developer's reality. The result of which should be obvious. A conflict between vision and execution rarely results in a positive outcome. To ensure a compatible outlook, identifying the mental framework necessary to successfully navigate the development process will prove helpful.

Nothing's Ever Easy!
"Nothing's ever easy" is a succinct statement that serves well as a constant reminder that no matter how simple a software project sounds, it never is. As the project is defined, there will be many attempts to discredit this mantra. High-level discussions with non-technical associates will ensure the most complex projects will appear basic. Simply generate a feature list, hire a developer and the throw up a website. Seems easy enough! The oversimplification of the project will continue during preliminary discussions with a development group where feedback frequently consists of statements such as "no problem" or "we have done similar projects as this one." To be fair, the developers are not lying. They are merely stating that the project is doable. But the devil truly is in the details. Any significant project will not be quick or easy. Expecting otherwise will result in considerable levels of frustration.

Software development is NOT manufacturing!
It is too common to see software development as an assembly line. The reality is that software development is much closer to creating art than gadgets. Understanding this concept will shed light on why project time estimates appear to be pulled out of thin air. It also will explain why a "few weeks" turns into a "few months." In manufacturing, the number of gadgets you can produce in a month can be accurately estimated by the ones produced last month. For developers, each project, though there may be similarities with past projects, is unique. Ask an artist how long it will take to produce a commissioned sculpture and the response will be a general time frame. The artist is not being evasive. The exact amount of time it will take to product the final piece is unknown. When developers present project time estimates, the entrepreneur should understand the estimate is a best guess. Like the artist, the software developer can only provide time frames. However, unlike the artist, the software developer must factor in external influences such as changes in requirements, technology innovations, and dependency on other teammates to name a few. Unrealistic expectations of project time line estimations will result in needless aggravation.

Evolution, not Revolution!
The creation of software is a constant process of shaping the product until it accurately reflects the entrepreneur's vision. As the leader, you will be focused on the final product. Nevertheless, it is critical for the vision to be broken down into easily manageable steps. Unlike a large company where teams of product specialists create reams of specifications, a startup does not have that luxury. To further complicate the process, the product requirements will likely change as the software is being developed. This is the nature of an emerging business. A good development team will deploy many interim releases versus a few large ones. The "mini-releases" allow the entrepreneur the opportunity to verify the team is on the right track. Thus, the software evolves to meet the vision.

Conclusion
The intent of this article is not to paint a bleak picture of software development but rather to assist with managing the unique challenges of software development within a start-up. By understanding how developers work, the CEO will be better equipped to roll with the challenges that will undoubtedly be presented. With this pragmatic approach and a good set of processes, creating software will be extremely rewarding. Similar to the artist's sculpture, the final product will not be a gadget but a unique merger of function and art.

CED, in collaboration with Business Leader Media, co-hosts Breakfast in the Park, a monthly breakfast speaker series. This event is an opportunity for business professionals in the research triangle region to network with their peers and interact with some of the areas most influential leaders. Breakfast in the Park takes place at the Brier Creek County Club from 7:30am - 9:00am and registration is required to attend.

The 2008 series features:
Aug. 21: Frank Plastina, CEO - Tekelec
Sep. 25: Joan Siefert Rose, President - Council for Entrepreneurial Development
Oct. 23: Dr. Victor Dzau, chancellor - Duke University Medical Center
Nov. 20: Victoria Haynes, CEO - RTI International

For more information about Breakfast in the Park visit Business Leader Media.

Operating out of a 7700 square foot, state-of-the-art facility in the heart of Research Triangle Park, BioAgilytix Labs is a boutique contract research organization (CRO) that specializes in providing detailed analysis of biological samples. Founders James D. Petrilla, Afshin Safavi and Matthew G. Langevin created the company name to illustrate the combination of biology, agility and analytics, which is what they specialize in providing to pharmaceutical and biotech companies seeking FDA approval of their large-molecule biopharmaceutical products.

Concept to Company
Petrilla, BioAgilytix Labs' president and CEO, was a life science mentor at CED's spring FastTrac® TechVentureTM class and led a group which included Safavi. Petrilla heard his story and saw how passionate Safavi was about starting a specialty CRO with his former co-worker Langevin. After performing a detailed market analysis and financial projections, the three confirmed that there were not enough companies specializing in providing detailed analysis of large-molecule biological samples and were convinced they would succeed. Petrilla's background includes senior roles in management, marketing and sales at several venture backed companies. Safavi and Langevin have worked together at three different biotech companies over the past ten years and have shared a dream of starting their own CRO.

The Future of BioAgilytix Labs
Through personal connections, referrals and networking, BioAgilytix Labs has already managed to set up a dozen meetings with potential clients. Although they are starting with three employees, they have begun hiring and estimate having around forty employees by the end of 2010. The founders aspire to build the next SAS-like company in the Triangle, offering employees great benefits like daycare, an office gym and more. Since May, the company has been operating under bootstrap funding while they fine tuned their business and finance plans; found office and lab space; and furnished their building. The founders are now seeking a single round of angel investment that will enable them to achieve profitability and cash-flow break-even within twelve months.
Entrepreneurial Wisdom

The BioAgilytix Labs idea has come along way since the founders connected at CED's FastTrac® TechVentureTM class. The founders learned that creating partnerships with people you enjoy working with is very important and have managed to solicit help from local entrepreneurial service providers who fit the bill. They are working with CED members, Square1Bank, Wyrick Robbins Yates & Ponton, LLP, Hughes Pittman & Gupton LLP, and many more. They have worked hard, remained passionate and made the best out of their circumstances, which has resulted in a turn-key CRO. Without the support from friends and family, and the connections they made through programs such as the ones offered by CED they would not be as far along as they are today.

To learn more about CED membership or the programs mentioned above, visit www.cednc.org. Would you like to be the next member success story? Email ccranston@cednc.org for more information.

In March, CED member company, The Catevo Group released ShowLogic(TM), a new presentation platform that enables users to organize, link and easily navigate a wide range of traditional and interactive media. Tina Deatherage, vice president of sales and marketing for ShowLogic(TM) discusses how to use basic communication to effectively convey your message.

A long time ago, making a presentation meant starting a dialog. You interacted with your audience and based on their verbal and nonverbal cues, the conversation followed a natural path that took into account both what you had to offer and what the audience was interested in. But, somewhere along the line, things changed and the support materials designed to aid our presentations turned into handcuffs.

Today, presenters and their support staff spend more time finding the right files and developing the slide deck than on the content itself. People write their presentations in the technology, read their charts and lose their audience. In many cases there is so much content, presenters never get to their key points because they run out of time.

A study conducted in 2007 by Dave Paradi, the co-author of "Guide to PowerPoint" stated that the top three issues associated with current presentations are: reading the slides, full sentences and micro text. The study concluded that presenters needed to use more visuals and allow for more conversation.

So how do you avoid being handcuffed to technology? It starts with the basics of communication. Communication happens when one person sends a message and another person receives that message.
Regardless of whether it is an interpersonal conversation, group or public setting communication is interactive.

---Learn how to effectively communicate your message by reading the full article at Show-Logic.com.

Thank you to the newest members to join the oldest and largest entrepreneurial support organization in the nation- CED.

-The Raleigh Progressive School & Learning Center, Inc.
-Shepherd Research, LLC
-Coalmarch Productions LLC
-Jason B. Tanner
-Bill Vanke
-Sam Bayer
-Chuck Mays
-Dana Hicks
-Mark Ogden
-David Andersen
-Ben Farrer
-Motorstats.com
-James W Clark Jr
-Elizabeth L. Smith
-Brian M Williams
-Lucy Carol Davis
-Black Diamond Capital Group
-John A. Price
-i1pro
-Corsair EDA, Inc.
-Relevance, Inc
-Bill Haas
-Lumpy's Ice Cream, Inc.
-Cristiane Petrillo Hilkner

Not a CED Member? Click here to join today and save on your next conference or program registration!