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Accipiter Raises $2.8 Million in Venture Capital


Software '97 demo company Accipiter has raised $2.8 million in a venture funding deal that marks the first time that Triangle venture firms Aurora Funds, Intersouth Partners and Southeast Interactive Technology Fund have joined together on a single funding deal. Other investors include the TriState Investment Group and Cordova Capital.

Aurora, Intersouth and Southeast Interactive have participated in previous fundings in pairs, but never before as a trio. Intersouth previously invested $500,000 in the Accipiter for the company's first venture funding.

Accipiter, a Raleigh-based software developer, is the creator of AdManger, a management tool for Internet advertising that is currently being used by Microsoft's MSNBC, AudioNet, CNET, Lycos, WebTV Networks and ZDNet.

CED Members Claim 11 of the NCEITA Awards


CED members won 11 of the NCEITA 21 Technology Awards at a ceremony held in Chapel Hill on November 13.

Monica Doss, executive director of the Council for Entrepreneurial Development, was awarded the NCEITA Leadership Non-Profit Award for her leadership and contributions to the development of entrepreneurs, entrepreneurial enterprises and venture capital resources in the Triangle and North Carolina. Mitch Mumma, General Partner of Intersouth Partners and immediate past president of CED was received the NCEITA Leadership in Legal/Financial Award for his long term leadership and productive contributions to the startup, financing and development of successful high tech companies in North Carolina.

CED member companies recognized for corporate innovation and growth included Cortex Vision Systems, Interactive Magic, Interpath, Osprey, Persimmon and RF Micro Devices. CP&L was recognized for outstanding corporate citizenship and Frank Daniels III joined Doss and Mumma in accepting a leadership award as the founder of Koz and Total Sports.

The NCEITA Leadership Awards recognize individuals who have made outstanding contributions to enhance the environment and infrastructure for competitive growth of the technology industry throughout North Carolina. Award winners are chosen by a "blue-ribbon" panel of industry peers and endorsed by the NCEITA Board of Directors.

CED Launches STREAK Program for Early-Stage Companies in Search of Venture Capital—Applications Are Now Available


An exciting new program to provide young companies with high-growth potential with access to mentors, potential investors and increased visibility is accepting applications.

STREAK, a unique program from the Council for Entrepreneurial Development, is designed for entrepreneurs with exciting ideas who will be seeking an early round of capital in the next six months and who can demonstrate equity investment potential.

Prospective STREAK candidates must submit an application and executive summary to be considered for the program. Two companies will be selected each month to submit their business plan to a four person mentoring team consisting of investors, legal advisors, CPA's, experienced entrepreneurs and marketing experts. The team will study the business plan, and the entrepreneurs will give a "behind closed doors" presentation to the team. The team will then candidly critique the business plan and presentation, make recommendations, and will provide ongoing mentoring for the company.

Two companies per quarter will be selected to present at a large quarterly event attended by potential investors and partners, financiers and others involved in the entrepreneurial funding process.

Private critiquing sessions will begin in December. The first public STREAK event will be a luncheon held January 29, 1998 at the Sheraton Imperial. Applications for the STREAK program are now available, and the application deadline for entrepreneurs interested in presenting is the first of each month. The application fee is $25. For more information, contact Suzanne Cantando at CED.

Venture '98 Applications Now Being Taken


CED is seeking presenter applications for VENTURE '98, the 15th in a series of highly successful venture capital conferences. VENTURE '98 brings companies seeking equity investment together with investors from throughout the country.

The financing sources typically represented include venture capital funds, private investors, corporations, banks, leasing companies and investment banking firms. Surveys of high growth companies presenting at past conferences have indicated that they have raised more than $500 million in private equity capital.

Who Should Apply?
Rapidly growing companies seeking either early-stage or later-stage financing should apply to make a presentation at VENTURE '98. The selection committee is looking for companies who are seeking either initial or subsequent stages of professional equity capital.

How and When to Apply:
To apply, submit two (2) copies of the Application to Appear as a Presenting Company along with a complete and current business plan. For more information, contact Tawnya Louder Reynolds.

Attention Software '97 Attendees! Rate Your Experience at One of the Largest Software Conferences in the Southeast


CED's Software '97, one of the largest software conferences in the Southeast, was held last week at the Friday Center on the campus of UNC-CH. CED welcomes any comments and suggestions you may have for conference. Please complete the survey.

Software '97 Highlights Information Technology Industry


Software '97

, sponsored by CED, provided members of the software industry with a full day of learning and networking. In addition to test-driving the leading-edge technology of 28 area companies in the demo room, people were able to attend sessions that covered major issues facing the software industry today, including a keynote address from Cisco Systems' Selby Wellman.

Wellman, head of Cisco's worldwide marketing efforts and the company's to executive in the Triangle, stressed the importance of companies using the Internet to do business. The Internet is no longer just for email and browsing the World Wide Web, according to Wellman. It's now a necessary tool for doing business. Cisco Systems is a top example of this—the company attributes about $250 million in savings annually to its use of the Internet to conduct business.