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FOR IMMEDIATE RELEASE
Alan Fogg, Director of Communications
afogg@fceda.org;
703-790-0600
17 Fairfax County companies to pitch goods, services at D.C. venture capital fair
Fairfax firms represent 24 percent of total at regional event
Fairfax County, Virginia, November 15, 1999 — Seventeen Fairfax County technology firms will be among 72 from the mid-Atlantic region vying for venture capital funding at a Nov. 17-18 event in Washington, D.C.
Fairfax County companies represent 24 percent of the firms that will make presentations at the Mid-Atlantic Venture Fair sponsored by the Mid-Atlantic Venture Association. MAVA extended invitations to companies from Virginia to Rhode Island. No other county or city comes close to the Fairfax percentage.
"The fact that almost a quarter of the companies at the event will come from Fairfax County is further proof of the strength of the economy here and a reflection of the predominance of Fairfax County in this region’s economy," said Gerald L. Gordon, president of the Fairfax County Economic Development Authority (FCEDA).
Here are the 17 Fairfax County companies that will make presentations:
- Amazing Media Inc.
- BioNetrix Systems Corp.
- Concannon Technologies Inc.
- Engenia Software Inc.
- EqualFooting.com
- EyeCast.com
- Formatta Corp.
- Guru Inc.
- Multicity.com
- NetBase Corp.
- NetDecide Corp.
- Scoreboard Wireless Inc.
- Simplexity.com
- SingleShop.com
- Tekmetrics.com
- WomenCONNECT.com
- WorldStor Inc.
Company representatives will get 10 minutes to pitch their goods or services to about 180 venture capitalists and hundreds of lawyers, accountants and other venture service providers who have registered to attend the MAVA Fair. About three-quarters (53) of the companies have received equity funding previously, while about one quarter (19) have not received any institutional funding to this point. In return for their cash, venture organizations usually get an equity position — partial ownership – in the companies in which they invest.
The MAVA Fair has become the largest venture-oriented event in the mid-Atlantic region. Companies selected for the fair have raised $1.67 billion in venture investment since the fair began in 1990, according to the organization . In addition to the presentations, speakers over the two days will include Ted Leonsis, president of AOL Interactive Properties Group, and John Sidgmore, vice chairman of MCI WorldCom.
The Fairfax County Economic Development Authority is a major sponsor of the MAVA Fair. 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.
Fairfax County companies received $230 million in venture funding in the first half of 1999, 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 and Alley Cat News.
For more information on the Fairfax County Economic Development Authority, check our web site at www.fairfaxcountyEDA.org.
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