|
FOR IMMEDIATE RELEASE
Alan Fogg,
Director of Communications
afogg@fceda.org, 703-790-0600
Twenty-One Fairfax County Companies Will Vie for Venture Capital at D.C. Fair
Fairfax firms are one-third of presenting group
Fairfax County, Virginia August 31, 2000 — Twenty-one companies from Fairfax County are among 61 from the region set to vie for venture capital at Capital Connection 2000, Sept. 5 and 6, in Washington, D.C., according to the Fairfax County Economic Development Authority (FCEDA).
The Fairfax County companies make up 34.4 percent of the companies that scheduled to make presentations at the event. Of the 61 companies, 35 (57.4 percent) are from Virginia, 19 (31.1 percent) are from Maryland and seven (11.5 percent) are from Washington, D.C.
"This reflects yet again the predominance of Virginia, and Fairfax County especially, in this region's technology economy," said Gerald L. Gordon, president of the Fairfax County Economic Development Authority (FCEDA).
Capital Connection 2000, the largest venture capital fair in the region, is put on by the Mid-Atlantic Venture Association. The FCEDA is a sponsor of the event.
Here are the Fairfax County companies scheduled to make presentations Sept. 6 at Capital Connection 2000:
- Career Rewards Inc.
- Collaborex Inc.
- eAgents Inc.
- Emerging Technologies Group
- FlightExplorer
- GlobalNet Technologies Inc.
- ibrite Inc.
- InfoSeer
- infoShark Inc.
- NetEx Inc.
- Network Alliance Inc.
- OPTIM Systems Inc.
- QB Inc.
- SevenSpace Inc.
- Simplexity Inc.
- SingleShop Inc.
- SynapSys Inc.
- Syndicated Research Group
- The .COM Group
- VirPack.com
- WorldStor Inc.
Company representatives will get 10 minutes to pitch their goods or services to about 80 venture capitalists and hundreds of lawyers, accountants and other venture service providers who have registered to attend Capital Connection 2000. In return for their cash and services, venture organizations usually get an equity position — partial ownership — in the companies in which they invest.
Companies selected for the fair, previously called the Mid-Atlantic Venture Fair, have raised $2 billion in venture investment since the fair began in 1990, according to the Mid-Atlantic Venture Association (www.mava.org). It will be held at the Marriott Wardman Park Hotel in Washington.
Since 1996 the FCEDA has run an aggressive capital attraction program with two goals: Link entrepreneurs and start-up companies with venture capitalists and "angel" organizations, and increase the amount of venture activity in Fairfax County.
County companies received $660 million in venture funding in the first half of 2000 and more than $1 billion in the last four quarters, a record since the program's inception. This year the FCEDA also has sponsored venture capital events around the country and in Europe with Red Herring magazine.
The FCEDA provides a wide array of services and information designed to promote Fairfax County as a world center of commerce and trade. Visit the FCEDA Web site at www.FairfaxCountyEDA.org.
# # #
| 
