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FOR IMMEDIATE RELEASE
Alan Fogg,
Director of Communications
afogg@fceda.org, 703-790-0600
Fairfax County Companies in Spotlight at Mid-Atlantic Venture Fair
Fairfax County, Virginia, November 6, 1997 — More than 20 Fairfax County firms will be highlighted at the 1997 Mid-Atlantic Venture Fair, taking place November 11-12 at the Tysons Corner Sheraton Premiere Hotel. This is the first time the fair, hosted by the Mid-Atlantic Venture Association of America (MAVA), will be taking place in Virginia, thanks, in part, to sponsorship by the Fairfax County Economic Development Authority (FCEDA).
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.
"Holding the fair in Fairfax County is a clear recognition of the entrepreneurial boom that is occurring in the County," said Patricia Woolsey, chairman of the FCEDA. "The opportunities for the participating companies are enormous, especially considering there were only a few Fairfax County companies presenting at previous fairs."
Many of the fair participants reflect the new technology-based economy that is thriving in Fairfax County, which has more than 60,000 technology workers employed at more than 1,500 firms.
"Having the fair in Fairfax means that it's much easier for local companies to have access to many investors in one place," said Ben Lilienthal, president of Nascent Technologies, a Reston-based company that designs software and web-based solutions.
Constellation Communications, another firm represented at the fair, has plans to establish a low-Earth orbit satellite system to bring telephone service to rural areas. Other firms aim to capture the women's online market (Women's Connection Online), automate business processes to run over the Internet (webMethods, Inc.), or allow people to use any phone in the world to access their e-mail (CrossMedia Corporation).
"The FCEDA is committed to supporting emerging companies' capital needs," said Woolsey. "Bringing the Venture Fair to Fairfax County is just one more way of bringing local companies to the attention of venture capitalists as the place to watch for new IPOs."
The Fairfax County Economic Development Authority provides a wide array of services and information designed to promote Fairfax County as a business location for domestic and international companies and organizations. The FCEDA assists businesses by identifying possible sites and facilities, provides information for employees relocating to Fairfax County and is a source for up-to-date demographic and economic statistics.
For more information visit FCEDA's Web page at www.FairfaxCountyEDA.org.
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