December, 2006

Happy Holidays

Venture Capitalists, mark your calendars for the 8th Annual D.C. Tech Council's Early Stage Capital Forum. Save the date for our next Technology Visionary Series discussing the "Digital Divide" developing between generation X and Y, December 13 at the University of Maryland, College Park. You also won't want to miss the next Capital Access Network Breakfast, January 10.

 

Entrepreneurs, be sure to take advantage of our Mentor Program. Dingman Center staff and experienced mentors are available every Tuesday from 8 - 11 a.m. to provide support and resources. Appointment required.

 

Students, read all about our exciting Dingman Day Lunch with with Haroon Mokhtarzada, CEO of Freewebs and former UMD graduate. He's sharing business secrets you won't want to miss!

 

Are you looking for internship opportunities to keep you busy over the long winter break? The Dingman Center has some great entrepreneurs looking for some stellar student help!

 

Also, be sure to get your pitches ready for our weekly Pitch Dingman Review sessions every Friday from 11:00 a.m. to 12:00 p.m. in 3570 VMH and our next $500 monthly competition December 8. Five minutes is all it takes to win $500! And if you're interested in hearing entrepreneurs pitch and give feedback, come to room 1518 to attend the Capital Access Network Review Day. Presentations are at 10:00 a.m., 11:00 a.m., and 1:00 p.m.

 

Other interesting links:

 

Upcoming Events

 

Pitch Dingman $500 Competition — 5 minutes is all it takes to win $500!

Come to the monthly competition, present your business idea in five minutes to a panel of judges from the Dingman Center, and you could win $500!  For information about the weekly Pitch Dingman sessions on Fridays or the monthly Pitch Dingman competitions, e-mail Melissa Carrier. Pre-registration is required for the Pitch Dingman Competition. To register, contact Melissa Carrier.

Friday, December 8, 11:00 a.m. - 12:00 p.m., 3570 Van Munching Hall

The last Pitch Dingman Session of the semester will be December 15.

Sessions will resume after winter break on January 19.

 

 

Capital Access Network Review Day

Students and faculty are invited to hear start-up companies present to our Entrepreneurs-in-Residence and Dingman staff as they prepare for Capital Access Network angel investor presentations. Listen to feedback by our experts, give some advice of your own, and learn about some of the new businesses being started today. It's a great experience for everyone!

To Register, click here!!  — Presentations begin at 10:00 a.m., 11:00 a.m. and 1:00 p.m. Please arrive promptly for the time slots you wish to attend.

Friday, December 15, 10:00 a.m. - 2:00 p.m., 1518 Van Munching Hall

 

 

Technology Visionary Series — The Digital Divide (invitation only)
 

What do YouTube, MySpace and Facebook have in common?

Other than the fact they are all valued in the billion dollar range, your children probably knew about them way before you did.

You e-mail your friends and family to stay in touch and are beginning to use digital cameras to support these "real world" relationships. Your children make and interact with their communities in these explosive new digital social networks, leveraging instant messaging tools (online and SMS) to sustain their constant buzz of digital socializing.

Are these social networks and digital messaging tools a passing fad? Or do they represent the fault line of a digital divide leaving you behind the curve of the next generation of disruptive technologies and explosive business growth? Within this constantly changing digital ecosystem, what separates the winners from the losers (in terms of user adoption, user loyalty and business success)? And what are the next generation of technologies, applications and companies that will burst through to be the next set of winners?

The Tech Visionary panel brings together researchers and thought leaders from the University of Maryland to provide insights to the venture capital community as to how to understand technological developments and what market opportunities are ripe for investment over the coming years. For more information about this event and to receive an invitation, contact Andrea Galati. The next panel discussion will be held December 13.

 

 

Ongoing Events

 

Mentor Day

The Mentor Program at the Dingman Center for Entrepreneurship is an innovative consulting service for entrepreneurs and small-medium businesses that assists companies in identifying solutions to business problems with the support of experienced, senior management professionals. Office hours begin on September 19 and continue every Tuesday from 8:00 a.m. - 11:00 a.m. Contact Melissa Carrier for an appointment or for more details. Additionally, consultative services will be available for select companies looking for longer-term support from mentors at $250/hour payable to the Dingman Center.

Every Tuesday, 8:00 a.m. - 11:00 a.m., 3570 Van Munching Hall

There will be no Mentor Day December 26th and January 2nd because of the holiday.

 

 

Pitch Dingman

The 2006-2007 Pitch Dingman program is held every Friday. Students, faculty and staff of the University of Maryland community are invited to pitch their business ideas to the Dingman Center for assessment and feedback. Business ideas found viable will find further support from the Dingman Center.

Every Friday, 11:00 a.m. - 12:00 p.m., 3570 Van Munching Hall

The last Pitch Dingman Session of the Semester will be December 15.

Sessions will resume after winter break on January 19.

 

 

CAN Breakfast (invitation only)
The CAN Breakfasts are by invitation only to angel investors who are qualified investors in the CAN network. Investors will have an opportunity to hear a 10 minute presentation from approximately four start-up entrepreneurs who are seeking funding for their business.  For more information on the CAN Program and to participate, contact
Melissa Carrier. The next CAN Breakfast will be held January 10.

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Event Summaries

 

 

Dingman Day Lunch featuring Freewebs - December 1

According to Freewebs CEO and UMD Alumni Haroon Mokhtarzada, “as an entrepreneur, you control your own destiny,” and, for Mokhtarzada, it appears to be shaping in to a very successful one.

At the Dingman Day Lunch on December 1, Mokhtarzada spoke about the entrepreneurial spirit and his experience building and fostering Freewebs, the Internet company he started with his brothers back in 2001. During his senior year here at Maryland, Mokhtarzada and his brothers predicted that, considering the rise in personal e-mail address, self-created Web sites surely weren't far behind and they set out to create a site building service easy enough for their mother to use.

At the time, dot coms everywhere were crashing and the brothers Mokhtarzada were able to get cheap equipment and space online but, because advertisers were skeptical of investing in the slowing market, Mokhtarzada and his brothers had to charge users a small premium for the service. The company grew slowly while Mokhtarzada attended law school, but upon getting his degree and turning down a job at a prestigious D.C. firm, he decided to devote his energy and attention to Freewebs.

As advertisers began returning to the Internet market in 2005 and demand started to rise, the brothers decided to concentrate on raising money. They scoured the area for venture capitalists interested in their company and, in August 2006, ultimately partnered with Novak Biddle Venture Partners and Columbia Capital—an $11 million deal!

“Having investors has put more pace into the company because suddenly there are more people looking for  big changes and a big return on their investment,” Haroon said. He describes the pace as “rapid expansion”—a shift that has transformed the company from having about nine employees, $2,000 and only a few hundred members to having 35 employees, an advertising office in New York City, two high-profile investors and over 12 million members.

Despite their rising success, Freewebs remains focused on their original mission: to provide people with an easy way to create their own high-quality Web site…for free. “We are just trying to help people market whatever they want, whether it's marketing pictures to their family or marketing themselves for a job,” Haroon says. However focused an optimistic he may be, Harron remains humble. “I wouldn't say that we are an incredible success, but I hope we can become an incredible success.”

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Dingman Portfolio Company Updates and Succeeds

 

 North Star Games Signs Deal with Target

 

North Star Games was incubated in the Dingman Center by founders Dominic Crapuchettes and Satish Pillalamarri as their 2003 MBA summer internship.  Several years later, North Star Games is poised to break into the mainstream with their award-winning hit, Wits & Wagers.

  • “Wits & Wagers is the latest in living-room play”Time Magazine

  • Party Game of the YearGames Magazine

  • Game of the YearMensa Mind Games

  •  “#1 trivia game of all time”About.com 

The North Star Games mission is to bring friends and families together for exciting and memorable experiences.  They inspire laughter, cheering, and social interaction through games that engage and enrich the mind. 

 

One of North Star Game's most popular innovations is the removal of turns from their games.  “Waiting for your turn is boring,” says Dominic, “so our games don't have them.  Instead, we find activities that are inherently fun and build a game around that activity so that everyone is always participating in the action.”

 

The latest North Star Games release, Wits & Wagers, has already sold 10,000 copies in board game stores across the nation, making it one of the hottest new party games of the year.  The game is so compelling that the pair of entrepreneurs is in talks with several major video game publishers regarding electronic versions of the game.  But customers don't have to wait to get their hands on Wits & Wagers.  The physical board game is available for the holidays right now at select Target stores nationwide (go to www.NorthStarGames.com to find a location near you!).

 

Normally, Target will only carry a board game if it already has significant name brand recognition.  But Wits & Wagers continued to test “through the roof” with the Target buying team, prompting the retailer to carry it in 61 of their national outlets.  “Its unbelievable that we've gotten shelf space at Target this quickly,” says Satish, “but we are concerned they will drop our product after the holidays.  Many people outside the board game industry have not yet heard the buzz on our game, so sales at Target thus far have not mirrored those in the specialty channels.”  To build awareness with mass market consumers, Satish and Dominic are trying to get the word out about Wits & Wagers' success.  For example, the game has won nearly all of the important 2006 industry awards - 7 in total!  This is a feat that has not yet been accomplished by any other board game.

 

So help out our Dingman Center alumni by purchasing a copy of Wits & Wagers at your local Target as a holiday gift for friends!

 

About Wits & Wagers:

Wits & Wagers is trivia made fun!  Not a trivia buff?  It doesn't matter!  Wits & Wagers brings out the excitement of a Vegas-style casino by letting you bet on anyone's answer.  So you can win by making educated guesses, by playing the odds, or by knowing the interests of your friends.  Strike it big with one of the high payout answers and you'll be cheering like you just hit the jackpot!

 

Wits & Wagers can be taught in 2 minutes, played in 20 minutes, and is suitable for all ages.  It is most fun with large groups (between 5 and 20 people).  You can learn more about the game on their website at www.NorthStarGames.com.

 

 

 

 

 

 

Crooked Monkey lands feature article in UMD Diamondback:

"Saucy Shirts"

 

Alex Tilitz

 

For the three years, government and politics major Micha Weinblatt had been attending Terps basketball games, he'd seen a select number of "F--- Duke" T-shirts pop up whenever the archrival played at Comcast Center.

The administration had even turned it into a campus-wide controversy, banning the spelled-out curse word from games, citing a lack of sportsman-like conduct. Weinblatt knew there was nothing like controversy to popularize an item, so his senior year, he and

University of Pennsylvania student Jon Mervis knocked on hundreds of dorm doors hawking the shirts for $15 a pop.

Weinblatt sold more than 700 of them, emblazoned with a drunken monkey leaning against a keg of beer on the back, effectively turning a Feb. 12 game against Duke last year into a sea of biting expletives. Now, almost two years later, the drunken primate has become the Crooked Monkey logo for Weinblatt's company and is affixed to T-shirts in more than 300 stores throughout the country.

"It was that first journey that inspired us to move the company to a larger, more legal and legitimate arena," Weinblatt said. "A lot of us are from Potomac and Bethesda, so people assume that we're just rich kids fooling around with our money. But it all came from that initial sale of Duke shirts."

A handful of credit-card loans, $3,000 and 18 months later, Crooked Monkey is selling more than 100 different designs in almost 400 stores, generating annual revenue of about $500,000. And although "the Duke shirt wasn't up to the same quality as our other shirts" and has gone the way of the marching band's sheet music to "Rock and Roll, Part II," Weinblatt said, many of the shirts still veer toward the raunchy.

"France sucks but Paris swallows" is a popular item, although "Either your collar is messed up or you're just a douchebag" has made the bestseller list. For the liquor lovers, there's "Tequila makes it Sweeta" and "Drop the chocolate and no one gets hurt" for those looking for something less edgy. Other, more ambiguous slogans exist as well: "Living the Dream," "Butterface," "That's How I Roll" and "I've had Better," are all hot sellers.

The soft, vintage-cut T-shirts Crooked Monkey now uses in all its designs come from a broker in California who ships blank shirts to the company's Bethesda office, located in Mervis' basement. There, the company's silkscreener applies designs to each shirt before the company ships them to stores or directly to customers from its website, where the shirts retail between $24 and $28.

Weinblatt said many of the slogans originate at parties over cocktails. His favorite, "Keep the Ratio Strong," which depicts dancing hot dogs and buns and alludes to the frustrating reality that seven hot dogs come in a package, while packages of hot dog buns usually contain eight, came up a party when someone noticed an even male-to-female ratio.

Other slogans "started on cocktail napkins in bars," said Weinblatt.

"We're always thinking of funny things. Just talking to people helps - we do a lot of listening to things people say."

Weinblatt admits the Crooked Monkey approach has traditionally been to capture the essence of college humor while parodying aspects of the college experience, which translates to a narrow customer base. But Ilana Kashdin, who carries the shirts in her Potomac clothing store B Scene, said the brand has caught on enough that parents now know to look for the logo when buying for their kids.

"We sell a lot to mothers for their daughters and to high school- and college-age customers," Kashdin said. "The little monkey on the shoulder helps them stand out."

 

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Two Dingman Portfolio Companies featured in NVTC Magazine
 

The Entrepreneur Center at NVTC Hosts Pavilion at NBC4 Connected Expo

                 Seventeen Start-ups Marketed and Provided Education to Thousands of Consumers

To View Event Photos Click HERE


The Entrepreneur Center hosted a pavilion at the NBC4 Connected Expo mid-September at the Washington Convention Center. For one weekend, the pavilion was home to 17 start-up companies with a consumer focus and based in the Greater Washington area. These entrepreneurs were able to demo their products to thousands of fascinated convention attendees, adults and children of all ages, and tell part of the story of the breadth and depth of innovation emanating from our region.

2006 was not only the first year for the Connected Expo-formerly called the NBC4 Digital Expo, but also the first year for a dedicated pavilion for The Entrepreneur Center. Previously, the Northern Virginia Technology Council hosted a pavilion with a much less prominent presence by the Center. NVTC decided to make the switch because of the unique opportunity to "connect the dots" and show people how technology is driving big ideas and the regional economy. NVTC still had a presence in the pavilion with headquarters staff and volunteers available to answer questions.

The start-ups that exhibited in The Entrepreneur Center Pavilion, many of which produce products that are environmentally and socially responsible and all of which are in the early stages of business development, were able to gain visibility among a huge audience, which they might not have been able to reach otherwise. Two of the exhibitors—Games4Change and Games4Health
took advantage of this opportunity to officially launch their products into the marketplace.

The entrepreneurs that participated in The Entrepreneur Center Pavilion were:

²      AIRTIME-Manager - Provides automated time-capturing solutions for today's mobile professionals. www.airtimemgr.com

²      American Family Protection - Brings the very best training and information used by the government and military to civilian families across America to help them learn, plan for, and react to terrorist attacks. www.americanfamilyprotectioninc.com

²      AT Kids Products - Markets and distributes children's products that emerge from the research and development initiatives of AnthroTronix, Inc. www.ATkidsystems.com

²      Bionics - Develops cochlear implant technology and bionic devices for a variety of neurological conditions including chronic pain and hearing loss. www.bionics-k.co.jp

²      Clever Sys Inc. - Provides products for automating behavioral analysis of animals, humans, and inanimate object, using next-generation technologies. www.cleversysinc.com

²      Games4Change - Develops video games that have positive social messages and content. www.gamesforchange.org

²      Games4Health - Develops video games that have positive health messages and content. www.gamesforhealth.org

²      Goozex - Provides an innovative, online trading system for used video games. www.goozex.com

²      GridPoint - Manufactures products to ensure clean, reliable power, increase energy efficiency, and integrate renewable energy. www.gridpoint.com

²      K-Bar Visual Information Systems - Provides online advertising and appraisal visual displays for the real estate and mortgage industries. www.neighborhood.k-bar.net

²      LocalNeighbors - Offers an online, interactive business directory for parents. www.localneighbors.com

²      MAXSA Innovations - Creates innovative products for automotive safety, energy efficiency, home safety and security. The product line includes a wide array of solar lighting, rechargeable candles, garage parking solutions and automotive safety devices. www.maxsainnovations.com

²      PC Recycler - Provides computer and electronic product recycling services. www.pcrecycler.net

²      Silverthorn Biofuels & Biodiesel University - Uses waste vegetable oil and soybean feedstocks to create clean-burning, renewable fuels (Silverthorn Biofuels) and is a mobile, renewable energy lab that helps educate the public on environmental stewardship and national energy security (Biodiesel University). www.biodieseluniversity.org

²      Lightglove - Manufactures a watch-like device that can be used as a remote control or computer mouse. www.lightglove.com

²      Storepointer - Provides item location solutions to help customers in retail stores, shopping malls and libraries. www.storepointer.com

²      Valador, Inc. - By taking the "engine" from a video game and combined it with company modeling and simulation, users can immerse themselves in three-dimensional representations of their businesses and collaborate with other workers remotely via the Internet. www.valador.com


As an added benefit to exhibiting at the Connected Expo, some of the start-ups also received media coverage in daily newspapers. NVTC is continuing to work to obtain coverage of the other participating entrepreneurs. In other media-related news, a highlight of the weekend was a prime-time interview by NBC4 technology reporter I.J. Hudson with Steve Boyd, Director, The Entrepreneur Center. During the interview, Steve previewed the pavilion and provided "sound bites" on the good work the Center is doing on behalf of the exhibiting start-up companies and other entrepreneurs based in our region.

The Entrepreneur Center Pavilion was a tremendous success, notably as it was the first year of the reworked Connected Expo, and we hope to continue our strong relationship with NBC4, an NVTC Media Partner, for many years to come. On behalf of the pavilion exhibitors, the staff of The Entrepreneur Center would like to thank NBC4 for this wonderful opportunity to help spread the word about the innovation and entrepreneurial spirit of our region.

 

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Internship Opportunities

 

Kooz Beverage company is launching their first beverage offering called LOCK+LOAD which will be hitting the market in the beginning of '07. LOCK+LOAD is a revolutionary fatigue-fighting High-End Sports Drink that combines all-natural rice carbohydrates, advanced peptide protein, and electrolytes. By drinking before and during exercise, LOCK+LOAD enhances metabolic function, hastens rehydration, and quickly refuels and protects muscle tissue.

 

Kooz Beverage Company is looking for a motivated, entrepreneurial minded individual, with a winning attitude.  Leadership/Entrepreneurial experience a big plus but not necessary as long as you possess these qualities.  Specific areas you will be working in;

  1. Public Relations-Writing press releases and contacting newspapers/magazines

  2. Marketing-Brainstorming and writing slogans to bolster brand identity

  3. Sales/Promotion-Direct Sales(meeting with gym, retail, etc owners/product managers) Engineer word of mouth through promotions, event marketing, etc.

  4. Logistics-Managing relationships with our logistics providers

 For more Information please contact steve@koozbev.com.

 

London, Ink LLC (www.londonink.com) is looking for a quick, reliable, Web-savvy, business-oriented person to work on a Web research project. The overall project is to develop a targeted contact database for one of our clients.  The specific task I need assistance with is searching several Web sites to gather contact information and intelligence for specific companies in the client's target audience (i.e. IBM, SAIC, Northrup Grumman).  

 

Requirements:

         Background: You are a business-oriented student that is very responsible/reliable and can work independently.  Previous Web research experience is a big positive.

         Scope: The first week (Phase 1) will be 15 - 20 hours, then we'll evaluate how it is going; if it's going well I will need 20 - 30 hours over the following two weeks (Phase 2).  Total: 35 - 50 hours over three weeks.

         Start Date: December 8th or as soon as possible.  Will be finished by about December 29th.

         Compensation:  $12 - $15 per hour.

          Also: You can work from your location and will need access to a high-speed internet connection.

 

Qualified/Interested Applicants: Please send your resume and a brief cover note on why you are uniquely qualified for this research project to Bob London, President of London, Ink at webintern@londonink.com.

 

For more information on London, Ink, please visit www.londonink.com or see the recent profile in the September issue of the Dingman Center e-newsletter at http://www.rhsmith.umd.edu/dingman/news/newsletter/2006/september.html

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Upcoming Partnered Events

 

ACTiVATE, a UMBC program, is looking for women for their Class of 2007!

ACTiVATE, an NSF-funded program offered at UMBC, is recruiting women for their Class of 2007. ACTiVATE is looking for experienced women with a strong technical (IT, engineering, or biotech) or business background in a high-tech field. Students must be interested in building a team to start their own company. Classes start in February 2007. Sign up to attend one of the informational sessions:

UMBC: at 6:30 p.m. on Wednesday, November 8 and Thursday, December 14

Rockville, Md.: at the Rockville Economic Development, Inc. offices on Tuesday, November 28 at 7:00 pm.

For more information about this program visit: www.umbc.edu/activate or e-mail techcenter@umbc.edu

 

 

The 8th Annual D.C. Tech Council Early Stage Capital Forum

Tuesday, Jan. 23, 2007
 

Featuring Co-Chairmen:

Mark Ein
Founder and CEO, Venturehouse Group

Raul Fernandez
Chairman and CEO, ObjectVideo

 

 

Area Companies Are Invited to Submit Applications
Application Period Now Open

Submit Applications from
October 12 - November 24, 2006

 

Selection and participation in the event provides emerging companies exposure to hundreds of investors, potential partners and customers. The conference showcases capital availability for the region's promising technology companies—early through expansion stage—and provides an exchange on current industry and capital markets issues among company managements and capital sources. For more information and to apply visit: http://www.dctechcouncil.org/

 

AMA Workshop: Growth Strategies for the Middle Market

You already know that growth of your midmarket company is essential. The challenge is identifying the most effective and efficient ways to either stimulate or continue growth. Register for Growth Strategies for the Middle Market, a new AMA workshop, and develop a plan to drive your company's growth.

 

Hear our expert speakers address:

• Understanding the advantages, disadvantages and current best practices of a wide range of growth strategies

• Discovering an insider's guide to raising capital in turbulent markets

• Determining if your company is on the right path for sustained and durable growth

• Learning how to build an effective team of outside advisors and a Board of Directors

• Identifying, harvesting and leveraging your company's intellectual capital

 

Register today for Growth Strategies for the Middle Market and take your company's growth to the next level!

Special pricing for individual attendees is only $495

 

To receive the discount, please call 1.800.262.9699 and use special code LAJ5. For more information and to register online, go to: http://www.amanet.org/events/growth_strategies/index.htm

Monday, December 4, AMA Executive Conference Center

440 First Street, NW, Washington, D.C. 20001

 

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The 2006 Corporate Venture Capital Summit

"Value Beyond Equity"

December 14, 2006 - Digital Sandbox - New York City

Register by Dec. 5th & Save $200
Off the "At the Door" Rates!

The 2006 Corporate Venture Capital Summit, now in it's fourth year, has become recognized as the premier venue for venture capitalists, Startups and Corporate Development Officers to meet, interact and network with leading Corporate VCs and Strategic Investors.
 
More than 24 active Corporate Investors will share their strategies, criteria and perspectives.

Whether you're:

  • an emerging company seeking funding
  • an investor seeking new investment opportunities
  • an investor seeking opportunities to partner with Corporate VCs

This is one event you won't want to miss!

In addition to providing unparalleled access to Corporate funding and partnership opportunities, The 2006 Corporate Venture Capital Summit will showcase up to twenty promising startups actively seeking funding and/or strategic partnerships.

 

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THE DINGMAN CENTER FOR ENTREPRENEURSHIP

 

Founded by Rudy Lamone in 1986, the Dingman Center was one of the first of its kind in the country and has emerged as a top-ranked entrepreneurship center. Thanks to initial funding with a generous grant from Michael D. Dingman, founder of the Signal Corporation (now part of Honeywell International), the Dingman Center continues to grow as a regional and national catalyst in the field of entrepreneurship. The Center is now aggressively evolving, and in some areas, is expanding its services to further its role as a leader in the student, regional, and academic entrepreneurial communities.

The Dingman Center is currently led by:
Asher Epstein, Managing Director

Melissa Carrier, Associate Director
Mr. John LaPides, Chairman of the Board and Entrepreneur In Residence
Dr. Scott Koerwer, Associate Dean, Professional Programs and Services

Please visit our website at http://www.rhsmith.umd.edu/dingman.

 

    Past Newsletters:

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