The May Report: 2/25/2011: Bulletin: The sun has set on SYNC-ing ship: Rhodes’ dream goes down the drain. Hats off to cub reporter Ed for breaking news that The Syncubator is to close marchFIRST — a fateful day! And what becomes of the $5MM fund, whatever fund there was?

Editor and publisher: ron@themayreport.com, ronaldmay@aol.com, www.themayreport.com , 773-525-3944.

Assistant editor: Melanie Adcock, iPHONE: 312-259-0610, melanie_adcock@msn.com

If you missed an article, go here: www.tmronline.com/A55951/tmrarticles.nsf/vwFullNewsletter ______________________________

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TABLE OF CONTENTS

The Scoop section:

– Here is a very depressing story: Chicago: SYNC Tech Center Closes as of Monday night, February 28th, depending on I don’t know what — the raising of the $5MM fund, the rental of more desks at $99 a month, what???
– Tuesday, March 1: BNC Venture Capital Group: Presenters: 4MeTechnologies, Waterless Cleaning
– Wednesday, March 2: BIGFrontier: Jay Baer: The NOW Revolution

[Editor's note: Ron May here. Thanks Melanie for this! And believe it or not, thanks to Ed Domain for breaking the story! Good work, Ed.

No thanks to Mike Rhodes for closing the SYNC Center or for giving the scoop to Ed Domain. And given that I have been to the center about 20 times since it opened, to the midVenturesLAUNCH on September 27th, to BNC's After Hours, to BNC's Tech Pitch two or three times, to the Feeding Funding Frenzy kick-off and to the main event on December 8th, to Hope Bertram on December 15th, to midVentures Developer's meeting twice, to five or six Sip@TheSync events on Friday afternoons -- it has been so many times I have lost count. I was there last night -- dressed much better than a week ago -- even if I was there for only for a few minutes. midVentures had 40 people in a developers' class when I got there but I could not stay because I went to a meeting of the Japan Society of America at 10 S. Wacker. Very good meeting, but I did see Mike Rhodes and he said nothing. Jean Pickering was also there.

Overall, if we are not counting unique individuals but counting total traffic, I would bet that The SYNC had more than 5,000 people come through the doors since September or August. I would count for about twenty of those folks.

I am sure that Mike Rhodes is heartbroken. He has put blood, sweat and tears into this. But I want and need to know more.

And especially bad news for me since a certain person who shall not be named today will probably be suing me soon and I am not in any way backing off the story on him. Nor are my main sources on the story. We are going full steam ahead.

I am just including two event notices, one for Tuesday's BNC Venture Capital Group and one for Wednesday's BIGFrontier meeting. That is because those events are coming up very soon.

What happens to all the people renting space at the SYNC Center? I talked to one guy last night with two desks and he pays $198 a month. The desk renters can easily be gotten rid of but what about the office renters?

OUR ACE REPORTER, MELANIE ANN ADCOCK IS ON THE CASE. She suspects that Ed may have jumped the gun and that he may not have story completely right. Her reason for suspicion is that there is nothing mentioned on the Sync Facebook page nor on Jean Pickering's Facebook page. And that may indicate that the info. is somewhat off. But we will see. Melanie and I have tried to reach Mike Rhodes but so far, no answer. Worst case scenario. I take a cab out to Rhodes' house in Tinley Park this weekend.

Jean Pickering and I do have one thing in common. We are both not on the ITA's Favorite People list.

If local events shift over to 200 S. Wacker, 15th floor, that will assuredly be a problem for moi. Unless they have a pretty fast change in management.

Here are the items Melanie pulled from Facebook.

+++++++++++++++++++++++++++
Melanie A. Adcock
Hey, is this story posted in Flyover Geeks about the Sync closing true? I hope not! Please confirm!!! -Melanie
2 seconds ago · Like ·

Sync Tech Center
The Federal Communications Commissions wants to make investing in Internet infrastructure as quick and easy as possible.
5 hours ago via Simplify360 · Like ·

Sync Tech Center
Tonight, midVentures is having their Design+Develop Series here at the SYNC. The will be discussing User Experience (UX): Planning for Success. Following the seminar there will be a mix and mingle networking event. This is always a great group of people who add a lot of energy to our space.
Yesterday at 2:22pm · Like ·
Sync Tech Center likes this.

Sync Tech Center
We are really excited at the SYNC today. We have Cd Vann from UnGeeked here giving a social media seminar to HR professionals. Some amazing social media and HR experts have been giving presentations at the seminar.
Yesterday at 2:19pm · Like ·
Sync Tech Center likes this.
+++++++++++++++++++++++++++++

Jean Pickering

I am working at the SYNC today. I love this place.
3 hours ago · Like ·

Kim Gonzalez likes this.

Lauren Milligan It's gotta be hard NOT to be inspired in the Sync.
3 hours ago · Like

Melanie A. Adcock Hey, what's the deal with Ed Domain's story about the Sync Tech Center closing? I saw in on Flyover Geeks today. Is this true? I hope not!!!
7 minutes ago · Like · 1 person
+++++++++++++++++++++++++

May again. BTW, Lundin owes me for running his event in this hastily prepared report and so does Len Bland. Lundin had a colonoscopy today and it couldn't have happened to a more deserving guy -- well, maybe TIH or JRM

Stay tuned for more news. ]
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The Scoop section:
_______________________
Here is a very depressing story: Chicago: SYNC Tech Center Closes as of Monday night, February 28th, depending on I don’t know what — the raising of the $5MM fund, the rental of more desks at $99 a month, what???

Subject: Chicago: SYNC Tech Center Closes
Date: 2/25/2011 3:00:19 P.M. Central Standard Time
From: melanie_adcock@msn.com
To: ron@themayreport.com, ronaldmay@aol.com

Chicago: SYNC Tech Center Closes
posted by Edward Domain on Feb 25, 2011 in Chicago, Chicago startups, SYNC Tech Center, chicago tech news



Breaking News As of Tuesday, March 1st, the Chicago SYNC Technology Center at 322 S. Green is announcing it is closing permanently.
The SYNC center had quickly become a focal point for Chicago’s tech community in the West Loop neighborhood and had events hosted by Flyover Geeks, Funding Feeding Frenzy, MidVentures, and others. (Funding Feeding Frenzy’s Kickoff Event will be the last event held there)
Several Chicago tech companies rented office space in the 18,000 square foot space and now will have to find new homes.
The SYNC center was opened as a place for tech companies large and small to work from and the operators planned on investing in local companies with a $5 million dollar fund.
The closing of the SYNC center will definitely affect the many entrepreneurs that gathered there and a few will have to find new space to work from.
What was a vibrant gathering space for the Chicago tech community has closed and that is a sad thing. The SYNC had a feel of community and bonhomie that will be missed.
Chicago has other, excellent places for entrepreneurs to work from such as the ITA. Here is to hoping the closing of the SYNC isn’t permanent and they do raise their investment fund.

Melanie Adcock
Assistant Editor of The May Report
LinkedIn: www.linkedin.com/in/melanieadcock
Cell: 312-259-0610
E-Mail: melanie_adcock@msn.com
The May Report Facebook Page: on.fb.me/TheMayReport
Visit The May Report Archives: bit.ly/TheMayReportArchives
Subscribe to The May Report: bit.ly/TheMayReportSubscribe
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Tuesday, March 1: BNC Venture Capital Group: Presenters: 4MeTechnologies, Waterless Cleaning

Subject: BNC VC Group 3/1/11 at LLB&L 5:00 PM. Presenters: 4MeTechnologies, Waterless Cleaning
Date: 2/24/2011 12:45:22 P.M. Central Standard Time
From: len_bland@conceptequity.com
To: ronaldmay@aol.com

Sign up here: bit.ly/bncvc030111
3/1/2011, 5:00 PM – 8:00 PM 111 S. Wacker Drive, 41st Floor
Please do not arrive before 5:00 PM

Locke Lord Bissell & Liddell, LLP is a national law firm with extensive experience representing emerging growth businesses and venture capital funds through formation, initial financing, protection of intellectual property, and other legal and regulatory hurdles that face such businesses.

When the time comes, Locke Lord has the necessary practical experience to advise entrepreneurs and investors regarding initial public offerings, mergers, acquisitions and divestitures.

Locke Lord attorneys assist emerging growth businesses with choosing the proper entity and initial financing arrangements, as well as other possible legal issues and regulatory hurdles that growing businesses face. We advise venture capital firms and private equity funds concerning their formation and operation, including initial investments in small and start-up businesses.

Entrepreneurs, send your executive summary to len_bland@conceptequity.com to be considered to present at the BNC Venture Capital Group.

How does Business Network Chicago choose their 3 monthly presenters?

Join the BNC VC Group on LinkedIn

Events

BNC Event Calendar

BNC Tech Pitch 2/16

Funding Feeding Frenzy Kick-Off 2/28
Discount Code: BNC

News and Articles

Advice for Entrepreneurs Pitching a VC

Starting with the Why. Where Inspiration and Possibility Meet

SCOR – Use the Internet to Raise Startup Money

The Top 10 Lies Entrepreneurs Tell VCs – Tech Europe – WSJ

Angels act: 100 percent exemption for gains made in Qualified Small Business Stock

“We all know that business plans are a sub-genre of science fiction”

11 Ways to Lose Investors Before You Finish Speaking

The 5 biggest mistakes entrepreneurs make
Know Your Numbers Cold

Series AA Equity Financing Documents

Business method patents preserved for software entrepreneurs.

Illinois Passes Angel Tax Credit

Concept Equity Blog: What goes into the PPM? How to generate a Term Sheet?

Inc: An Insider’s Guide to Venture Capital Financing

When should entrepreneurs use an NDA?

Inc Magazine: How to Read a Term Sheet
Why You Should Start a Company in Chicago

Entrepreneurs have trouble crafting a simple, emotional message because they suffer from the curse of knowledge.
Audio Sample from Made to Stick

Perfecting Your Pitch – what goes into a good investor presentation?

How does the investor make money? Modeling the answer to one of our four questions. Stories connect to emotions, where decisions are made

Angels take an average of 67 days to close a deal.

Why It’s So Difficult to Find Angel Capital

Len Bland Funding Interview on SmallBiz America

Startup Valuation: Top Ten Techniques

Investor Presentation – 10 Slides is Just Right

Must see from 2006, Guy Kawasaki’s The Art of the Start presentation

Setting your company’s valuation

Why Business Plans Don’t Deliver – The five most common flaws-and how to fix them

Study Disputes The Value of VCs “Buying Local”

In Pitching to Angel Investors, Preparation Tops Zeal

I Love Executive Summaries

The BNC Venture Capital Group introduces exciting investment opportunities to professional investors (angels, early stage venture capitalists, and private equity firms seeking add-ons) and fosters the growth of entrepreneurial activity.

Len Bland, CEO of Concept Equity, and David Carman, CEO of Business Network Chicago, lead the BNC Venture Capital Group. We will review three entrepreneurial opportunities. Each presentation lasts 10 minutes, followed by a 15 minute Q&A.
Effective presentations answer 5 questions:

What is the product or service?
-Why will customers buy it?
·Why is this management team the best one to run the business?
-How does the company make money?
·How will the investor make money?

5:00 PM – Networking
5:30 PM – Introductions
5:45 PM – 4Me Technologies
6:15 PM – Waterless Cleaning
6:45 PM – Break
7:00 PM – Presenter
7:30 PM – Results

4Me Technologies provides localized and personalized online information delivery. Combining “location in time” context with semantic profiling techniques, 4Me presents a pertinent, contextual news and information experience consistent across phone, tablet and computer platforms.

Waterless Cleaning, LLC has created a detergent for cleaning clothes without water. This solution saves money and the environment by eliminating the need for expensive drying and reliance on water.

Locke Lord Bissell
111 South Wacker Drive, 41st Floor
Chicago, Illinois 60606

Sign up at123Signup – Event cost $25 (late $30)

Evening Meeting includes food and beverages
Call Len Bland at 847-317-0656 or write len_bland@conceptequity.com with questions or if you have any difficulty registering. Other investors welcome.

If you have a scheduling conflict, please join us for the next meeting set for the first Tuesday of each month.

Previous Presenters

Click Here for Information on Previous Presenters.

For More Information Contact:
Len Bland, Concept Equity Group, Inc.

Follow Len Bland and Concept Equity on twitter @conceptlen
See Len Bland’s latest blog

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More about our services

BNC “TechPitch”
Wednesday, March 16, 2011
5:30 PM

The Sync Tech Center (Syncubator)

322 S Green Chicago, IL

Price: $10.00 per person

How to find us: 1 block south of Jackson & 1 block west of Halsted in the heart of Greektown, just west of the Loop. Dial 0300 to enter

The BNC Technology, Entrepreneur & Venture Capital groups have joined forces with the newly-formed Syncubator (www.synctechcenter.com) to host “TechPitch” and bring together start-ups, angel investors, venture capitalists, bloggers and other tech enthusiasts to discuss cutting-edge ideas, disruptive technologies, and innovative companies. Start-ups can find capital and other valuable resources that are critical to their survival and ultimate success.

Entrepreneurs receive 5 minutes to pitch their companies. An effective presentation should answer the following 5 questions:

What is the product/service?
Why would a prospective customer buy it?
What is the TAM? (Total Addressable Market)
Why is the management team qualified to run the business?
What traction have you gained? (Customers, key influencers, other important milestones)

Evening Agenda:
5:30 – 6:00 p.m. Registration
6:00 – 6:35 p.m. 5 entrepreneurs pitch their companies
6:35 – 7:00 p.m. Interview with successful local startup
7:00 – 8:00 p.m. Open networking

“TechPitch” is hosted by the Syncubator, Chicago’s hottest new incubator for promising start-ups. The Syncubator provides the infrastructure (office space, legal counsel, marketing strategy, software development, contacts, etc.) necessary to nurture and accelerate the growth of early-stage companies.

The BNC Technology Group facilitates structured networking among technology and social media professionals and brings in speakers to address the latest trends in technology and social media.

The BNC Entrepreneur Group provides a forum for wannabes, start-ups, and small business owners to share resources, best practices, and experiences to support each other in building a successful company.

If you are an early-stage company and interested in presenting at “TechPitch,” contact David Carman at: 312-943-6376 or dcarman@BNChicago.com

To find more information about BNC groups, go to: www.BNChicago.com

Funding Feeding Frenzy Is Back!

Hello Len,

Well another Super Bowl is history and now its time to take action by signing up for the Funding Feeding Frenzy Kickoff Event. Take advantage of the AMAZING EARLY BIRD DISCOUNTS by registering by February 7th! Discount Code: BNC

No entrepreneur should miss the Funding Feeding Frenzy Kick-off Eventon Monday Feb. 28. Once again, we’re bringing this amazing event to you. We received nothing but praise and compliments for how well the last Funding Feeding Frenzy Kick-Off event went and we can’t wait for this one.

What is the Funding Feeding Frenzy Kick-Off Event?

For Entrepreneurs raising capital, having a great presentation for potential investors will multiply your chances of success. Wouldn’t it be amazing to have the inside track to knowing exactly what those potential investors care about hearing, and how they want to hear it.

The Funding Feeding Frenzy Kickoff Event was designed for entrepreneurs to sharpen their presentations and get immediate feedback and critique on how their business is presented. Multiple entrepreneurs will present their company to the crowd and will learn first-hand exactly how their presentation can be improved. There’s no judgment, only encouragement from fellow entrepreneurs and people who understand what investors care about.

Be sure to register by Feb. 7 and take advantage of our Amazing Early Bird Discount. That’s right, sign up now and it’s only $35 to attend the spectacular event.

So, be sure to take advantage of this tremendous offer and sign up now with discount code BNC!
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Wednesday, March 2: BIGFrontier: Jay Baer: The NOW Revolution

Subject: 3/2 event listing
Date: 2/24/2011 11:30:42 P.M. Central Standard Time
From: slundin@bigfrontier.org
To: ronaldmay@aol.com

Jay Baer: The NOW Revolution

Baer and his co-author Amber Nusland have been packing in audiences from coast to coast: do not miss this exclusive Chicago presentation from the hottest social media author of the season! This is a free event but you must register – space is limited:

bigfrontier.org

This book will be available at the event.

Learn the “7 Shifts To Make Businesses Faster, Smarter & More Social” directly from the authors. In this groundbreaking book, companies learn how to:

Strip away silos and overgrown business process, and create a culture of NOW
Hire and empower a new type of employee who is adept at pattern recognition, human relations, and immediate analysis
Organize internal teams for maximum external impact, and empower every employee as a marketer, even if they aren’t
Listen at the point of need and answer the social telephone
Travel the Humanization Highway, and respond effectively and persuasively to customer inquiries
Plan for, find and manage real-time crises
Redesign success metrics in a business world that’s increasingly instantaneous
NOTE NEW LOCATION

DATE: March 2, 2011
LOCATION: University Center – 525 S. State Street Chicago
TIME: 9:30-12:00
Kibbitz: 9:30-10:30
Presentation: 10:30-11:30
Questions and signings: 11:30-12:00

bigfrontier.org/index.php?option=com_content&view=section&layout=blog&id=4&Itemid=10

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