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FOR IMMEDIATE RELEASE
Alan Fogg,
Director of Communications
afogg@fceda.org, 703-790-0600
Eight UK Tech Companies Compete for Place in Fairfax County Incubator
"Strongest link" will get free rent and services from eIncubator, FCEDA says
Fairfax County, Virginia, May 29, 2001 — Eight British technology firms hoping to expand into the American market will know soon which one is the strongest link and will win space and services from eIncubator in Fairfax County, according to the Fairfax County Economic Development Authority.
An advisory panel of U.K. business people is examining the entries, which were submitted between March 1 and May 8. eIncubator will make the winning selection after it conducts due diligence on the companies. A decision is expected in July.
Once the winner arrives, it will join eIncubator's program for launching early stage technology companies. The program is a customized set of services addressing key business areas, preparing the startup to secure and optimize venture funding.
The eight entrants are:
- 4eN, Ipswich
- AB Tech, Cambridge
- ClaimNet, Aston Science Park, Birmingham
- Freesolar, Elvingston Science Centre, East Lothian,
- Mediascope, Aston Science Park Birmingham, www.mediascopeltd.com
- MultiMed, Leeds
- Riley Fletcher, Warwick
- Wire-e, Binley Business Innovation Centre, Coventry
The companies' business interests include business communications; refrigeration & air conditioning technology; solar power; children's' software products, multi-media medical publications; Web-based business solutions; biotechnology using plant-based formulas; and wireless applications.
The Fairfax County incubator specializes in accelerating the growth of early-stage technology companies. It is managed by eIncubator Inc., a private company.
The winner will get space in the incubator for 12 months and receive advisory services and customized management assistance. That could include business model, business plan and business channel development from eIncubator's experts; financial, accounting, legal, marketing and public relations assistance with eIncubator partners; Fairfax County Economic Development Authority assistance in finding strategic partners, sources of capital and permanent office space. In exchange, eIncubator will take an equity position in the winning company.
The competition is limited to BritishAmerican Business Inc. (BABi) members and companies in United Kingdom Science Parks Association (UKSPA) science parks and technology centers throughout the U.K.
Gerald L. Gordon, PhD, president and CEO of the Fairfax County Economic Development Authority (FCEDA), said: "We are gratified that eight UK technology companies submitted proposals to eIncubator and we are excited at the prospect of helping one of them grow in the American market. There is no better place to do that than Fairfax County."
"Our goal has always been to reach out and help entrepreneurs worldwide. The U.K. winner will find, along with a solid group of local startups, a group of international entrepreneurs already located in our Fairfax County incubator," said Eric Dahler, president of eIncubator.
The U.K. advisory panel of judges consisted of the following members:
- Douglas Blausten, Cyril Leonard & Co. and board member of BABi, panel chairman;
- Professor John Allen, chairman of Manchester Science Park and past chairman of the UK Science Parks Association;
- Peter Wallace, partner in the law firm, Morgan Lewis & Bockius LLP;
- Michael Goldstein, partner in the accountancy firm, Blick Rothenberg;
- Ken Olisa, CEO of Interregnum Venture Marketing Limited;
- Clive Hyman, U.K. head of Business Incubation Services, KPMG.
About eIncubator
eIncubator Inc. (www.eincubator.net) is a team of proven business leaders who identify, instruct and launch premiere early-stage technology companies. Headquartered just outside of Washington, D.C. in the booming technology region of Fairfax County, Virginia, eIncubator accelerates ground-breaking companies through a customized set of services, including business development, venture financing, product management, and strategic marketing. In conjunction with strategic partners, eIncubator helps portfolio companies navigate the challenges of building a successful technology company. eIncubator works in partnership with private and public institutions to commercialize innovative technology and to promote economic development.
About the FCEDA
The Fairfax County Economic Development Authority (www.FairfaxCountyEDA.org) provides a wide array of services and information designed to promote Fairfax County, Virginia, as a business and technology center. Domestic and international marketing staffs work with U.S. and foreign companies interested in expanding or relocating operations. A market research and real estate division help clients learn more about office space opportunities. The FCEDA also runs a capital attraction program to link entrepreneurs and start-up firms with venture capitalists and angel investors. Another program assists small, minority- and women-owned businesses. The FCEDA has marketing offices in London, Frankfurt and Tokyo.
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