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FOR IMMEDIATE RELEASE
Contacts:
John May, New Vantage Group, 703-255-4900 (o)
Ralph Robbins, VIAB, 703-288-1414 (o)
Myra Fitzwater, Teqcorner, 703-714-6171
Alan Fogg, FCEDA, 703-790-0600 (o) or 571-213-5065 (m)
Elliott Weiss, Darden, 434-924-4815
Four Israeli technology companies present business plans to dozens of angel investors in Washington area
Program is first of its kind in D.C. region for Israeli tech companies
Fairfax County , Virginia, February 9, 2005 Four Israeli technology companies – two focused on information security, one on training software and one specializing in medical devices – presented their business plans today to more than 60 investors from around the Washington, D.C., area. The presentations were made possible by a first-ever arrangement to link “angel” investors in the Washington area with Israeli companies interested in expanding into the U.S. market. Each company is looking for U.S. funding of between $250,000 and $1 million.
Today’s event at Teqcorner in McLean, Virginia, is an initiative of Active Angel Investors, a program of New Vantage Group; the Virginia Israel Advisory Board; the Fairfax County Economic Development Authority; the University of Virginia’s Darden School; and Teqcorner LLC. The four companies seeking U.S. investors were chosen from more than 50 in Israel that submitted information to participate in the program.
The four Israeli companies seeking U.S. investors are:
- Applied Cognitive Engineering (www.ace4sports.com): Applied Cognitive Engineering (ACE) develops software-based training tools that significantly improve the performance of trainees in a specific task. ACE’s products are applicable to markets ranging from military training to sports.
- Beyond Security Ltd. (www.beyondsecurity.com): Beyond Security develops vulnerability assessment and self-management solutions that facilitate preemptive, real-time and continuous network, server, and database and application security.
- CrossID (www.crossID.com): CrossID addresses the need to provide printable automatic identification technologies similar in application to barcode technology, but using radio frequency (RFID) and resonance signals instead of optical signals.
- Vitronet (www.vitronet.com):Vitronet provides a patent-pending platform that predicts and optimizes basic human pharmacokinetic characteristics for pharmaceutical compounds. The company focuses on increasing the probability of success in drug development.
Following the presentations, the angel investors will decide if they want to invest in any or all of the companies. John May of Active Angel Investors will inform the companies if group members will enter the “due diligence” phase in which they study a company more closely before deciding to invest. Due diligence could take two months or longer.
About the organizers of the Virginia-Israel program:
Active Angel Investors - AAI, a program of New Vantage Group, is a formal membership network of 50 accredited investors who provide guidance and funding to early-stage opportunities in the Mid-Atlantic region. Members investing their money in start-ups and often invest their time and expertise to help companies grow. Through active participation, members help entrepreneurs with strategic decision-making, financial guidance, and industry connections. AAI investors also look for investment diversification and exposure to early-stage venture opportunities.
Virginia Israel Advisory Board - The Virginia Israel Advisory Board’s (VIAB) mission is to enhance economic development in Virginia by facilitating market entry opportunities of Israeli companies in Virginia. We do this by opening doors using the right contacts and providing the best support to help build their U.S. business. We also help Israeli companies identify and secure various incentives offered by the State and by local counties. Assistance is given to companies in the following areas: high tech, manufacturing and service-oriented companies.
Fairfax County Economic Development Authority - The Fairfax County Economic Development Authority promotes Fairfax County as a business and technology center. The FCEDA assists businesses by identifying possible sites and facilities, and provides demographic and economic statistics. The FCEDA’s Capital Attraction Program links technology entrepreneurs with potential investors, and another program supports the growth of small and minority-owned companies. The FCEDA maintains overseas offices in London, Frankfurt, Tel Aviv and Bangalore, and will open an office in Seoul, South Korea, in 2005.
Teqcorner, LLC - Located in McLean Virginia, Teqcorner, LLC creates a Community Office Center that leverages turnkey office solutions, state of the art amenities, and technology infrastructure for high-growth companies. With flexible and affordable short-term agreements (3-36 months), Teqcorner offers a number of different suite options, ranging from 150 sq. ft. to 2,600 sq. ft. Teqcorner also offers a Virtual Office Program. Clients have the opportunity to attend Teqcorner-sponsored speaker series, networking events, seminars, workshops and peer support groups.
Darden School at the University of Virginia - The Darden Graduate School of Business Administration is a professional school that seeks to better society by developing leaders in the world of practical affairs. They create and deliver general-management educational programs and conduct and publish research to advance the knowledge and practice of the business community. Their goal is to be an international leader in management education widely recognized in the business and academic communities.
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