CONNECT eNews - February 18, 2010
CONNECT NEWS
By Camille Sobrian, COO, CONNECT
Access federal grants with new CONNECT Federal Funding Portal
Working with the California Institute for Telecommunications and Information Technology (Calit2) CONNECT has developed a new set of tools to help member companies and local entrepreneurs identify federal research funding opportunities. Existing CONNECT members have draft profiles already established on the system and will just need to login to customize the system to search for areas of their particular research interest. Behind the scenes a set of powerful text extraction algorithms automatically search across the federal funding portfolio and bring back customized results based on your research keywords. The system is updated daily and new opportunities may be accessed either via the Web or the system can send you email alerts. In addition to this targeted information, system users can also browse across opportunities by keywords, via agency, or eligibility criteria. CONNECT members should email membership@connect.org for their username and password for accessing the secure system from Calit2.
Currently phase two and three are being planned. As a first step CONNECT and Calit2 plan to build the capability to link entrepreneurs with specific researchers in their specialty in order to apply for grants that require partnership with a research institution. As a second step the goal is to link large corporations with innovators and researchers. Visit the portal at www.connect.org – click on the “Capital” icon and choose “Federal Grants Database.”
CONNECT CEO supports innovation economy on Mayoral DC trip and CONNECT DC office opens doors
Duane Roth, CEO of CONNECT recently traveled with San Diego Mayor Jerry Sanders of San Diego and Escondido Mayor Lori Holt-Pfeiler, Rick Gentry of SANDAG, Andrew Poat of San Diego Regional Economic Development Corporation (EDA) and a number of San Diego business leaders to ensure that San Diego innovators' interests are represented in Administration programs under development to fund innovation clusters and smart growth in terms of transportation, housing and economic development. Over two days the group met with the Brookings Institution's Metropolitan Policy Program, the U.S. Department of Housing and Urban Development, the U.S. Department of Transportation and the White House Office of Urban Policy/Domestic Policy Council, the Economic Development Administration and the General Services Administration. Also on the DC front CONNECT's new DC office and expanded advocacy initiative are off and running and have attracted headlines in the UT, SDBJ, Xconomy and SDNN. Roth returns to DC for meetings next week and CONNECT’s policy coordinator Jessie Womble is now based in DC and will be managing the office set-up for the next six months while a DC advocate is hired. At that time she will return to San Diego to coordinate policy efforts with the CONNECT policy committee and CONNECT members. Womble can be reached at jwomble@connect.org or (949) 933-9433.
Media Coverage: UT, SDBJ, Xconomy, SDNN
CONNECT/SPAWAR wireless health track at AFCEA International draws military and industry interest and SDDT coverage
New technologies could improve patient care, cut costs
Wireless health care is on the rise, and with continued technological advancements and adherence to a few guiding principles, it could lead to better quality of life for patients, reduced hospital costs and earlier detection of medical problems, panelists said during a Feb. 4 discussion at West 2010. The idea of wireless health care is not new, but it is gaining momentum in private and public realms. "Sensors, low-power (capabilities) and wireless connectivity makes it a very exciting time to use technology to create wireless health solutions," said Mehran Mehregany, chief of engineering research for West Wireless Health Institute, who participated on the panel that was part of a Space and Naval Warfare Systems Command (SPAWAR) and Connect track during the West 2010 conference. Read more of SDDT article here.
Springboard Quarterly Results: Four CONNECT mentored companies land EvoNexus incubator spots
The last quarter of 2009 saw a major increase in activity on all fronts. A number of our graduates were honored in prestigious competitions. The pace of intake, marketing, dry run and graduation panel activity increased significantly. In addition with the help of our law firm sponsors we launched our new due diligence review process to ensure graduates are investment ready. Five Springboard companies completed due-diligence reviews prior to presenting to our Deal Network where scrubbed companies present in a private home to high net worth investors. We saw participation from all the major technology clusters in San Diego within the Springboard pipeline in the last half of the year. Our Entrepreneurs-in-Residence (EIR) program became a standalone program now supporting Springboard, MIP, VRT, SEI Capital Forum, UCSD’s Entrepreneur Challenge and CommNexus’ EvoNexus incubator. The group has expanded to 193 EIRs and 250 Domain Experts. In addition the EIRs are now available to act as Expert Witnesses for sponsoring law firms. Read full report
here.
CONNECT Association elects San Diego Sport Innovators Chair Bill Walton, CleanTECH San Diego Chair Jim Waring and Luce Forward Partner Phil Jelsma to Board.
Read full press release here.
CONNECT hires Garrett Hale to staff SEI, Madeline Holden to support MIT and Ashley Strange to coordinate Connect with CONNECT and E-News Read more here.
Policy NEWS
By Jessie Womble, Business Development & Public Policy Manager
Favorable odds for innovation in the Obama Administration's FY11 budget proposal
President Barack Obama announced his $3.8 trillion budget proposal last week which featured several promising initiatives for the national innovation community. The State Science & Technology Institute published a detailed report that outlined the “winners and losers” of the President’s FY11 proposal. The key initiatives for the San Diego innovation economy are:
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The National Science Foundation, NIST laboratories, and the Department of Energy's Office of Science continue on the path to doubling their budgets |
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The Administration tries to move regional innovation and clusters forward with proposals in a number of agencies, including: |
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$75 million in the Economic Development Administration (EDA) in the Department of Commerce for regional planning and matching grants within EDA to support the creation of Regional Innovation Clusters |
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$108 million at the Department of Labor for the proposed Workforce Innovation Fund that would provide funding for the demonstration of promising new ideas and for the replication of proven practices |
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$11 million at the Small Business Administration to support enhanced small business participation in regional economic clusters by awarding competitive grants to facilitate greater coordination of resources |
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The Technology Innovation Program (TIP) would increase 14 percent or $10 million to $79.9 million. |
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The Advanced Research Projects Agency-Energy (ARPA-E) would receive its first regular appropriation of $300 million. |
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New and previously approved Energy Innovation Hubs would receive $107 million through the Department of Energy. |
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The Department of Energy would launch a new $50 million program, Regaining our Energy Science and Engineering Edge (RE-ENERGYSE) to inspire students and workers to pursue careers in science, engineering, and entrepreneurship related to clean energy. |
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Solar energy, wind energy, and geothermal energy programs in the Department of Energy's Office of Energy Efficiency and Renewable Energy would all see double digit percentage increases. |
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Myriad National Science Foundation programs are proposed for increases, some double digit increases, including Partnerships for Innovation (109 percent increase), the Engineering Research Centers (22.9 percent increase), Science and Technology Centers (14.3 percent increase), and the Experimental Program to Stimulate Competitive Research (EPSCoR) (4.9 percent increase).
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A detailed write-up from the State Science & Technology Institute on the FY11 budget proposal can be downloaded here.
Obama’s proposed plan to expand Small Business Administration (SBA) lending programs
On Wednesday, February 5, President Obama proposed a plan to expand two critical Small Business Administration (SBA) lending programs. The proposal included the following initiatives:
1. Expand SBA’s existing program to temporarily support refinancing for owner-occupied commercial real estate loans
2. Temporarily increase the cap on SBA Express loans from $350,000 to $1 million
The full press release and details on the initiatives above can be found
here.
Member NEWS
By Moya Gollaher, Executive Vice President, CONNECT
California biomedical jobs holding steady
The California Healthcare Institute and PricewaterhouseCoopers have just released the 2010 California Biomedical Industry Report, which shows that the state’s 274,000 biomedical industry jobs are holding steady. To read the full report, please visit www.chi.org. Read full press release here.
Foley & Lardner address royalty based financing as a potential tool for start-ups
With the market still up in the air, one way to raise capital is royalty based financing. Royalty based financing is money that is lent against the company’s future revenue stream. Instead of purchasing an equity interest in a company, the investor lends a certain amount of funds just like a loan, but repayment can be more flexible than a loan. Read more here.
Invetech designs partnership with Coca-Cola on “Fountain of the Future”
Invetech has been creating breakthrough products and custom automation systems for more than 30 years. Their San Diego based office provides a base for their North American operations which include supporting the development of "Coca-Cola Freestyle™", a proprietary new fountain dispenser from The Coca-Cola Company. This dispenser allows guests to choose from over a 100 beverage choices from a single touch screen. See more here.
PricewaterhouseCoopers announces Deborah Jondall as Director/Client Relationship Executive in Life Sciences/Pharma Practice
Jondall will be responsible for developing relationships and new business opportunities with venture capital funded emerging companies as well as mid-cap public companies in San Diego's pharmaceutical/life and science/wireless life science space. This is a new position with the firm and one that represents PwC's strategic investment initiative in the Southern California pharma/life sciences market.
City of Murrieta's Business Roundtable is launched to help local business
The group will meet every 3rd Wednesday from 7:30AM to 8:30AM at the Murrieta Public Library. Read more here.
SDNN to sponsor conference Marketplaces 2010: the local vertical opportunity
Marketplaces 2010, produced by BIA/Kelsey, is the gathering place for the executives who are executing on the “verticalizing” of media in terms of vertical content, vertical sales and vertical targeting. Top executives from more than 50 companies will be represented on the agenda, such as Google, AOL, ServiceMagic, Citysearch, Yelp, Loopt, OpenTable, eBay, Examiner.com and Eventful.
CONNECT Members will receive a $200 discount by entering promotional code MKT2010CONNECT when they register. Read more
here.
Lee Hecht Harrison on why the Saints victory teaches valuable lessons on teamwork, leadership and preparation Read more here.
Cushman & Wakefield are pleased to announce the promotion of Stath Karras to the position of Executive Managing Director, Investment Sales
Karras will focus on the operational aspects of the Investment Sales group and oversight of the Cushman & Wakefield Resolution Group, including its integration into our Capital Markets, Client Solutions and Brokerage operations. In this capacity, he will oversee relationships and engagements with national and multi-market clients, develop and implement group communication, efficiency and standardization initiatives and represent the group at industry functions and events. Based in San Diego and working with Investment Sales brokers throughout the U.S., Karras will oversee the management of Investment Sales activity for distressed assets and collaboration with the firm’s property management, leasing, project management and receiver groups in their involvement with distressed real estate asset needs. Karras is also very involved in civic, community and trade organizations including serving as a Board and Executive Committee member of the CONNECT Association.
ROTH Capital Partners acts as sole book-running manager for $7.8 million follow-on offering for NeoStem (NBS) Read More here.
Cooley Godward Kronish LLP announce promotion of Eric Otterson to Sr. VP Business Development
Luce Forward Partner Stephen Marsh and Procopio Partner John Lormon are profiled in SDBJ Special Report on Environmental Law Read more here.
Funding NEWS
By Taylor Peterson, Director, Innovation Programs
TCA lays out seven P’s for entrepreneurs when pitching to VCs Read more here.
Frank Quattrone speaks to San Diego Venture Group about IPO Market Read more in Xconomy
New Enterprise Associates made the most VC investments in 2009 according to the Dow Jones VentureSource
The article goes on to describe VC companies. For example First Round Capital who is only 6 years old ranks fourth on the most active investor list with 41 deals. Read More in The Wall Street Journal
Upcoming Funding Related Workshops:
CONNECT Scrubbed DEALS
By Ruprecht von Buttlar, Director, Business Creation and Development
Launching VoxOx (by TelCentris)-Sage advice at January case presentation: MIT Enterprise Forum San Diego
President Michael Faught and CEO Bryan Hertz are grappling with whether to private label VoxOx with a large Telco and separately, whether to brand a special business version of this all-in-one communications platform. The advice they received urged them to have patience with the current consumer path they’re on, and that it may be too early to private label. At the conclusion, Michael Faught stated that the Forum experience had been “fruitful” and had brought “clarity” to some of the presented issues. Click here to read the full summary.
Springboard graduate Ribomed Biotechnologies Lands Phase 1 contract from the National Cancer Institute. Learn more here.
VRT and Deal Network alumn ecoATM lands funding from San Diego's Tao Venture Partners and wins MIP, SDVG Pitchfest
Read more in Xconomy and in the Springboard Quarterly Report
here.
ElliptiGO launches the ElliptiGO 8S’ the world’s first elliptical bicycle
Media Coverage: NBC News in San Diego, North County Times, San Diego Magazine, San Diego Metro Magazine
Springboard grad StayClassy.org is selected as one of 30 startups across the US to showcase at MIT's prestigious Venture Capital Conference
Springboard company OnePitch, Inc. secures a partnership agreement with Lazer Ventures Inc. to franchise a baseball hitting system
Designed by aerospace engineers and professional pitchers, the OnePitch system uses optical lasers to capture speed, break, trajectory and deceleration of pitches at a level of accuracy that vastly exceeds existing radar-based systems. Coupled with a high-speed, high-definition video feed, the system is able to instantaneously link pitcher mechanics with pitch movement to enable diagnostic capabilities never before realized. Read More
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Upcoming COMMUNITY EVENTS
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