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FOR IMMEDIATE RELEASE
Alan Fogg,
Director of Communications
afogg@fceda.org, 703-790-0600
Fairfax County Hosts Major Venture Fair
Fairfax County, Virginia, November 3, 1997 — A fund-raising story that has nothing to do with politics and everything to do with matching high-tech entrepreneurs with investors needed to turn dreams into profit-making realities will unfold November 11-12 in Fairfax County, Virginia, just outside the nation's capital.
It will mark the first time the Mid-Atlantic Venture Fair — the region's premier event of its kind — has been held outside of Philadelphia or Baltimore.
Holding the fair at the Sheraton Premier at Tysons Corner signifies Fairfax County's emergence as one of nation's fastest-growing high-tech areas.
With 60,000 technology workers employed at more than 1,300 firms, the County has led the transformation of the Washington-area economy from one dominated by the federal government to one supported by information technology products and services providers, telecommunications, biotechnology, and emerging Internet-based businesses.
"We welcome the venture fair to Fairfax County and hope these investors will learn about the opportunities here and decide to invest in these entrepreneurs," said Patricia Woolsey, chairman of the Fairfax County Economic Development Authority.
The Fairfax County Economic Development Authority, one of the fair's sponsors, promotes Fairfax County as a business location for domestic and international companies and organizations. Hundreds of venture capitalists will hear presentations from 61 companies - nearly a third of them from Fairfax County - and view exhibits from 34 additional firms. The past seven venture fairs have helped young companies raise $1.3 billion.
"What I like about this (fair) is that it seems to be very strong in terms of participation, pulling together a lot of investors. It's always helpful to have them in one place," said Susan Williams DeFife, president of Women's Connection Online, Inc., one of the Fairfax County firms making a presentation. DeFife's company is the first on-line private subscription service for professional women and women business owners.
Edward Knauf, president of Avatar Solutions, Inc., also of Fairfax County, is presenting at a Mid-Atlantic Venture Fair for the first time. "If this thing would have been held out of town, I probably would have passed," said Knauf, whose company was formed to address problems such as modifications of programs to accommodate the year 2000.
"We'll present our story, short and sweet. It's sort of like distributing bait on the water. We hope a couple of fish will jump up and bite."
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