The May Report: 12/3/2012: It was 20 years ago today .. that SMS text messaging was born, and ironically it was a British telecom software engineer who developed it and the first message, “Merry Christmas,” was sent from a PC to clunker phone at a holiday party; Now I’ve seen it all: the Pope is tweeting!; The Crain’s list of 40 under 40 is out http://www.chicagobusiness.com/section/40under40-2012?bptw and from our tech community I see Logan LaHive, a computer scientist from Argonne, and Harper Reed who is looking more and more like Ted Kaczynski — compare how he looked when I interviewed him in 2009 to today http://vimeo.com/channels/themayreport; My estimate is that Tech Cocktail drew about 350 even though TC employee Mary Ellen Delaney told me it was 500, but Frank Gruber himself agreed that it was 325 to 350, and so did Julian Pretto; TC is changing its focus and complexion with speakers night and Thursday night the pitch competition — to put this bluntly, more technologists, fewer sales and marketing people, fewer recruiters, fewer PR people, and more telecom people (Sprint and Verizon were there and Sprint was even a sponsor), more traditional IT consultants, and more companies like www.cars.com with about 15 people in attendance which after 15 years of operation is hardly a nascent startup and you could say that Sprint and Cars.com are really consumer plays; the winner of the pitch competition was David Rush’s www.evzdrop.com ; Techweek has 10 (?) people now as David Rosenblatt has moved from consultant to FT, Tech Cocktail has 6.5 FT employees, many writers and others; and open here for the rest… there were some old timers like SilkRoad’s COO Brian Platz, but where were Tom Sherman, Harper Reed (who may have no job now — Harper the election is over), David Dalka, Jeff Willinger, Harvey Daniels, John Dallas, Tim Courtney, Andy Angelos (and my info. is that Tim and Andy had a breakup and as a result SocialDevCamp 2012 disappeared from the Chicago scene), Jeb Ory, Pek Pongpaet, Eyal Amir, Sonny Cohen, Daniel Honigman, Phil Tadros, Scott Miller, Jared Steffes, Tim Saylor, Jason Rexilius, Jason Jacobsohn, Sean Corbett, John McCreary, Phil McKrone, Brad Spirrison, Jon Morris, Phil Krohn, Jason Kalish, Kris Hammond, Larry Birnbaum, Kevin Willer, David Flint, Paul Davidovich, Mike McCune, Todd Allen, Robert Jacobi, Avery Cohen, Jim Figliulo, Raminder Chadha, Mike Topoalovich, Chris Rollyson, Steve Gareeb, Vera Kimmi, Warren Bent, Rob Lambert, and was Troy Henikoff there?, and the list goes on (what other pub do you know which lists who was NOT at an event rather than who was?)… Bob Gillespie of www.swiftexpo.com tells me that Richard Cross wrote the program, but he has no equity; btw, Cross got Bob the job there by introducing him to Matt Dabny; they did 1,300 shifts and handled 770 volunteers for Chicago Ideas Week and C2E2 took 120 hours to do what ShiftExpo did in 8 hrs for them and as Bob explained, “it’s hard to do it in XL,” so their program works much more efficiently, and if I understood Bob correctly, their major client may be REED; Attorney Evan Brown is leaving Hinshaw tomorrow, but we don’t know yet where he’s going; Jared Steffes, formerly of http://tap.me/, told me in October that he was launching his new site Matador on November 3rd. I found out at TC that this deadline has passed and no site is in sight yet due to development problems; Mark and Jeremy were there from www.spothero.com and they are actively in negotiations with prospective investors for financing, possibly including HPA and OCA Ventures — no numbers being floated yet, but my bet is $1.5MM or more since they currently have 11 mouths to feed, 8 FT and 3 PT operating in two cities, Chicago and San Diego plus they have bill boards in about 15 locations around town now and as Jeremy put it, they are “looking for the right investors,” and they are discussing preferences, etc., so this could be even bigger money; I’ve noticed that a lot of biz cards have the title Community Manager, whatever that means — is it that the term social media has become passe, perhaps by dint of over use and a low level of proven efficacy, and one community manager is Mandy Yoh at SpotHero; everywhere I go, I run into people in the tech community and one such person was Alex Gilbert who told me he works for a consulting firm and when I asked him which one, he said www.savogroup.com and as he wheeled me home for about a block I explained to him that Savo is not an IT consulting firm and he said it’s too complicated to explain and that he’s on the content side — so John Aiello (or is that Mark O’Connell who has your job now?), work on the elevator pitch for all employees — they are representing your firm on the street — quite literally; another person who helped me recently to get into a cab was David Rosenbaum who is an IP lawyer specializing in medical devices, www.rosenbaumsilvert.com ; I should clarify that the people who voted “None of the above” for the Nov. Technori presenters stressed that the presenters lacked passion, enthusiasm and in a few cases were defensive in answering Seth Kravitz’s questions, so I told David Culver at Tech Cocktail that he should be prepping the presenters for Technori — now I have a decision to make: I’m going to the CEC forecast in the morning at the Chase Auditorium and I have 60-70 emails to get out, so if I even start doing the TOC, I’ll have this out by midnight, so to quote a very funny movie What About Bob which never became a big hit, “baby steps, baby steps” — well, I did a “short” report with a TOC, but let me end by getting this off my chest: sometime tomorrow morning Kevin Willer will praise the mayor for going down to Champaign-Urbana to recruit techies to Chicago, something he believes Mayor Daley would not have done, and I’ll be sitting there about 4 rows behind Sarah Habansky thinking to myself, “You know, intellectual honesty and historical accuracy demands that Kevin publicly acknowledge the role of Terry Howerton and Fred Hoch in initiating these trips to UIUC which they’d been doing for several years before others decided to take the credit” but far be it for me to expect Kevin to actually recognize Howerton for this — and those of you who know the history of my relationship with TIHII will understand that I had no choice but to write that if I want to sleep at night!; btw, I did call KW out in person for failure to mention Knapp, Catapult, Tech Nexus, the Evanston incubator and others at the CEC dinner — let’s see if he improves on that in the morning
Editor and publisher: Ron May, email@example.com/tmr firstname.lastname@example.org,www.192.168.1.100/tmr, 773-525-3944. If you missed an article, go here: www.tmronline.com/A55951/tmrarticles.nsf/vwFullNewsletter
TABLE OF CONTENTS The Scoop section: — Lee Neubecker: Chicago Board of Election Website Catastrophic Security Breach — Phil Tadros: Wefunder Raises $500K To Help Unaccredited Investors Put Money Into Startups — Mike Moyer: Slicing Pie — Judi Wunderlich: A summary — sort of — of her event — Katherine Leonard: SMBChallenge, and Evanston based Mystery Tackle Box http://mysterytacklebox.com/ came in 2nd — Jeff Carter: Still with HPA — There’s an Ed tech meet-up group which held a meeting at Catapult earlier this month — Facebook stock jumps as lockup expires — Jeff Carter: What the panel at the LES meeting on VC said — Baxter buys Swiss firm for $4B — Larry Irwin: Correction — Lew Borsellino: Loss Share Fraud — 4 steps to the greatest celebration of Los Angeles Tech – Techweek LA 2013 — Retrofit Raises $8M Series A and Announces Contest — Data Vulnerability Platform Risk I/O Raises $5.25M Series A — Nik Rokop: What he’s up to — Rokop says he did not attend CEC dinner — Stuart Flack resigns from top job at Chicago Humanities Festival and for the first year in 20 years, I did not go to even a single event, after my yearly average has been 15 events, but I was too pooped out this year — It would appear that Jerry Mitchell has given up on pyramid marketing schemes and is back to writing about financing tech companies, a welcome thing if he’s not a flash in the pan: Jerry, meet Mike Rhodes, Katherine Born, Tim Saylor, Jason Rexilius, Tim Courtney, Andy Angelos among many others — Richard Cross: Defends his and Nural’s job at BofA — Tarkus Murphy: Information Superglacier™ Report Between the Holidays — Tuesday, December 4: Don’t forget to register for the CEC’s 2013 Startup Forecast — Thursday, December 6: Social Media Club Chicago Holiday Party and Panel — Tuesday, Dec. 4: BNC VC Group: Host: Polsinelli Shughart, but you have to watch the slippery wording from Len Bland: “Two companies received investment as a result of their BNC VC Group presentation! Youtopia.com continues to have money raising success. Everyonetexts.com also received angel investment.” Yes, two companies got funding, but they may not have been Youtopia.com or Everyonetexts.com, even though those two firms did present at BNC __________________________ The Scoop section: ____________________ Lee Neubecker: Chicago Board of Election Website Catastrophic Security Breach Subject: FW: Chicago Board of Election Website Catastrophic Security Breach Date: 11/13/2012 4:26:57 P.M. Central Standard Time From: email@example.com To: RONALDMAY@aol.com
Breaking news! From: Allison Rojas Sent: Tuesday, November 13, 2012 3:56 PM To: Allison Rojas Subject: Chicago Board of Election Website Catastrophic Security Breach 11/13/2012 3:45PM More than 1.7 Million Registered Voters Have Personal Information Disclosed Forensicon just uncovered and reported a massive security breach at the Chicago Board of Election’s website http://www.chicagoelections.com. The last time this happened was back in 2006 when past and present Chairman of the Board of Elections ordered a computer forensics audit, yet here we are again with another major breach of voters’ personal information. More information posted to our website shortly at http://www.forensicon.com/chicago-elections-website-security-breach/ Allison Rojas Office Manager Forensicon, Inc. 226 S. Wabash Ave., Suite 300 Chicago, IL 60604 Email: firstname.lastname@example.org Main: (888) 427-5667 | ext 122 Direct Dial: 312-239-0085 Fax: 312-427-5668 Add my business card to your address book by clicking: http://www.forensicon.com/vcard/arojas.vcf Forensicon, Inc. http://www.forensicon.com/ Computer Forensics | eDiscovery | Litigation Risk Management ____________________________ Phil Tadros: Wefunder Raises $500K To Help Unaccredited Investors Put Money Into Startups Wefunder Raises $500K To Help Unaccredited Investors Put Money Into Startups Inbox x
Philip Tadros email@example.com Nov 29 (1 day ago) to me Images are not displayed. Display images below – Always display images from firstname.lastname@example.org I was reading Wefunder Raises $500K To Help Unaccredited Investors Put Money Into Startups on TechCrunch and thought you might be interested in reading it too. http://techcrunch.com/2012/11/28/wefunder-raises-500k-to-help-unaccredited-investors-put-money-into-startups/ Download TechCrunch for iPhone today!
Mike Moyer <email@example.com> 8:50 AM (9 hours ago) to me Hi Ron, It’s been a while since we have spoken/met (back in my Cappex.com days in 06). I’ve just released a book, however, that I think would be relevant to your readers. It’s called Slicing Pie (www.SlicingPie.com ) and describes, in detail, how to implement a dynamic equity split in a start-up company. Unlike static-split methods (which are most commonly used), the dynamic model determines precisely how much equity each person in a start-up company deserves. I would be happy to speak with you about it or send you a copy via email or print. I hope all is well! ____________________________ Judi Wunderlich: A summary — sort of — of her event Subject: RE: I need a summary of the panel discussion at your event. Sorry I was not there. Date: 11/13/2012 4:02:28 P.M. Central Standard Time From: firstname.lastname@example.org To: RONALDMAY@aol.com
Sorry Ron. I did not take notes, and we discovered that our (borrowed) camera died 20 minutes into the discussion! http://www.meetup.com/Chicago-Interactive-Design-Development/events/87713452/ Topics discussed at the recent panel discussion on ‘Doing good with a for-profit business': Why “do good”? Where did your idea come from? How does your purpose enhance your profits? Technology How does technology make a difference? How does it enhance community building? Why are you doing it on a web platform? How are you incorporating mobile? Which web/mobile technology are you using? What do you look for as you add members to your tech team? How does being purpose driven influence this?
_________ Judi Wunderlich Co-Founder / Vice President of Recruiting The Destination for Talent 200 W. Jackson, Suite 1725, Chicago, IL 60606 Direct: 312-506-8596 | Main: 312-506-8600 Interact with me here: Twitter Google+ Linkedin (please invite me to link with you!) Facebook Foursquare Chicago Interactive Design & Development Group Looking for work right now? View current openings. Want to send us your resume for future job openings? Register online. From: RONALDMAY@aol.com [mailto:RONALDMAY@aol.com] Sent: Sunday, November 11, 2012 8:50 AM To: Judi Wunderlich Cc: email@example.com Subject: I need a summary of the panel discussion at your event. Sorry I was not there. _______________________________ Katherine Leonard: SMBChallenge, and Evanston based Mystery Tackle Box http://mysterytacklebox.com/ came in 2nd Subject: SMBChallenge Date: 11/28/2012 3:16:00 P.M. Central Standard Time From: firstname.lastname@example.org To: email@example.com
You’ll find the 3 winners on this page. Mystery Tackle Box is from Chicago.
http://smbchallenge.com/ Katherine — Katherine Leonard, Digital Content Developer Direct: 312.955.0399 Featured this week on the lonelybrand blog: Using Apps to Encourage In-Store Shopping It all starts with one lonelybrandâ„ On the web at www.lonelybrand.com, twitter.com/lonelybrand and www.facebook.com/lonelybrand Your complete digital communications solution.
118 W. Kinzie St., Floor 2 Chicago, IL 60654 ___________________________ Jeff Carter: Still with HPA Subject: I am Still With Hyde Park Angels Date: 11/13/2012 8:19:21 A.M. Central Standard Time From: firstname.lastname@example.org To: RONALDMAY@aol.com
Ron, Saw your report. I am still with HPA and currently leading a deal right now. Still Treasurer of the Board. Thanks Jeff _______________________________ There’s an Ed tech meet-up group which held a meeting at Catapult earlier this month Subject: Educelerate VI: Relating Academic Research to Education Start-ups – Educelerate: the Chicago EduTech MeetUp (Chicago, IL) – Meetup Date: 11/13/2012 10:48:09 A.M. Central Standard Time From: email@example.com To: RONALDMAY@aol.com
http://www.meetup.com/Educelerate/events/77554492/ ________________________ Facebook stock jumps as lockup expires Subject: Facebook stock jumps as lockup expires Date: 11/14/2012 11:48:04 A.M. Central Standard Time From: firstname.lastname@example.org To: RONALDMAY@aol.com
http://www.usatoday.com/story/money/business/2012/11/14/facebook-stock-massive-lockup/1703885/ http://www.usatoday.com/money/lookup/stocks/FB/ _____________________________ Jeff Carter: What the panel at the LES meeting on VC said Subject: Re: I am Still With Hyde Park Angels Date: 11/13/2012 8:41:04 P.M. Central Standard Time From: email@example.com To: RONALDMAY@aol.com
We talked about the seed stage funding and entrepreneurship climate in Chicago.
We talked about how Rahm has made an effort to get behind it.
We talked about convertible equity conv debt and the kinds of companies we are seeing.
Then we talked about how people could become involved in the groundswell of entrepreneurship in Chicago without spending a dime.
1. Talk about it with your friends and neighbors. Create word of mouth buzz to stimulate awareness
2. Become a customer of a start up
3. Take a meeting with a start up
4. Create a connection either set up a meeting or create a customer for a start up.
Oh lastly we told them to read the May Report every day : )
Best Jeff Sent from my iPhone please excuse any misspellings On Nov 13, 2012, at 8:23 PM, RONALDMAY@aol.com wrote:
Nov. 13, 2012
Jeff, can you give me a few paragraphs summarizing today’s panel at LES?
The things TMR readers might want to know.
Thanks in advance.
In a message dated 11/13/2012 8:19:21 A.M. Central Standard Time, firstname.lastname@example.org writes: Ron, Saw your report. I am still with HPA and currently leading a deal right now. Still Treasurer of the Board. Thanks Jeff ____________________________ Baxter buys Swiss firm for $4B Subject: RE: Send article about Baxter buying Swiss ? company for $4B, please. Date: 11/24/2012 7:52:52 A.M. Central Standard Time From: email@example.com To: RONALDMAY@aol.com
http://www.businessweek.com/news/2012-11-24/baxter-said-to-near-deal-to-buy-gambro-for-4-billion _____________________________ Larry Irwin: Correction correction Inbox x
Larry Irwin firstname.lastname@example.org 6:11 PM (22 hours ago) to me Grosky was not in violation of SEC laws by paying Soboj a commission without Soboj having a Series 7 – both Grosky AND Soboj were in violation. Stern could have gone after all of Grosky’s finders who were unlicensed, but she as is the norm only went after the big fish. I remind you that I never once took a commission. I knew it was a no-no. All these morons that begged Rick Fogel to honor their “gift” shares i.e. commission shares were actually asking to receive an illegal commission for their own illegal activities. The nature of those activities was that they were receiving a commission of something of value (the stock) without having the Series 7. This violation existed independently of whether or not Efoora was squeaky clean, which of course it was not. I.e. the violation exists if you accept a commission for the sale of GE or Microsoft stock. Whether not one has a Series 7 has nothing to do with whether or not the company is a good boy. _____________________________ Lew Borsellino: Loss Share Fraud Subject: loss share fraud Date: 12/3/2012 3:32:48 P.M. Central Standard Time From: email@example.com Reply To: firstname.lastname@example.org To: email@example.com
LinkedIn Lewis J Borsellino has sent you a message. Date: 12/03/2012 Subject: loss share fraud The FDIC is destroying Americans lives and directing aquring banks to ruin citizens whos only wrong doing is to be a customer of a failed bank!!! watch this viedo: Please contact me if you like to learn more!!! http://www.youtube.com/watch?v=Wv2gsL6Jy8c follow Loss Share Fraud on twitter Thank You LB View/reply to this message ___________________________ 4 steps to the greatest celebration of Los Angeles Tech – Techweek LA 2013 Subject: FW: 4 steps to the greatest celebration of Los Angeles Tech – Techweek LA 2013 Date: 12/2/2012 3:07:47 P.M. Central Standard Time From: firstname.lastname@example.org To: email@example.com
Here is an update for Tech Week Los Angeles.
Techweek LA 2013 Is this email not displaying correctly? View it in your browser.
LA ’13: Here we come!
Techweek jumped into the LA tech scene two weeks ago with The Private Summit. Thank you to the pioneers who joined us at Annenberg Beach House. A hundred CEOs, entrepreneurs and investors showed off their sea legs, engaged in candid tech talk and pulled off dance moves that, unfortunately, fall under Chatham House Rule. Also, a special thank you to Killerspin, one of our newest partners, for providing premium tables and lessons from the Anna Kournikova of table tennis! Planning for LA 2013 is now underway, but we need your help. Let’s make it the tech celebration of the year! Here’s how: Step 1: Send us one speaker that you just have to see Step 2: Name one startup that you want to see at LA 2013 Step 3: What’s the hottest venue for party HQ? Step 4: Calling all beer aficionados – tell us Cali’s #1 microbrew Help us make next year’s show an unforgettable experience by emailing your suggestions to firstname.lastname@example.org â†’
Flyboarding over the PCH
With the help from our friends at Aquatic Aviation, Techweek launched 11 fans into the air with Flyboarding. See some of the photos posted by our followers on our blog. The enthusiasm from our attendees was overwhelming, so be sure to follow us @thetechweek to get the first word on any future activities. We’ll be bringing this extreme sport to all our conferences, with the first stop in the Chicago river. Expect a return in LA at next year’s conference.
Introducing in LA The inaugural Techweek Grand Tour kicked off in El Segundo two weeks ago. Our team took a select group through the offices of JustFab, Sensa, and Dermstore. Check out the blog to see how the group learned about: Benefits of having creative production in-house Motivating an effective sales force Beer carts = increased morale
Stay up on tech news See what we’re up to! Join our network on LinkedIn See past presentations & highlights Spread the word! Copyright © 2012 Techweek, Inc., All rights reserved. You are receiving this email because you have attended one of our events or opted into our newsletter.
unsubscribe from this list | update subscription preferences ___________________________ Retrofit Raises $8M Series A and Announces Contest http://www.builtinchicago.org/blog/retrofit-raises-8m-series-and-announces-contest Blogs add blog Retrofit Raises $8M Series A and Announces Contest posted by Amina Elahi on 11/13/2012 08:11 am 1516 views 1 comments
Retrofit, the weight loss program that relies on data to encourage Americans with busy lifestyles to get healthy, has raised $8 million in Series A funding in a round led by Draper Fisher Jurvetson (DFJ). Hyde Park Angels and Correlation Ventures also took part in the round, as well as previous investors New World Ventures and I2A Fund. This brings total investment in the company up to $10.7 million. “We’re investing the capital back into the Retrofit product to make it even better,” says CEO and Founder Jeff Hyman. “Over 90 percent of our clients are losing weight, but I think we can do even better and we have countless ideas on how to achieve this.”
Hyman found a perfect investor fit in DFJ, who were looking for a portfolio company tackling the issue of obesity. He also expressed excitement for the “hometown” investors who participated in this round, especially considering their support of the company thus far. Retrofit uses data paired with wellness experts to transmit personalized weight loss programs digitally to clients. “Retrofit achieves unrivaled weight loss outcomes for our clients by providing each with private lessons on how to lose weight for good. Its personalized, private, and portable,” Hyman says. Clients meet with their team of experts via Skype videochat and wireless devices such as Fitbits keep them on track to their goals. To Hyman, the key is to move away from traditional weight loss models that focus on abstract motivational concepts. “That’s not the best way to lose weight for the long-term. Instead, Retrofit uses data. Data from our board of obesity experts. Data from the wireless devices we provide. Data from scientific studies on what works,” he says. That data has proved effective for clients on an individual level, but now Retrofit wants to expand the impact by bringing whole corporations on board. They see this as a way to combat high healthcare costs since overweight employees can cost a company up to $1,500 a year in additional health costs, according to Hyman. As such, they today announced Retrofit My Company, a contest that will award the winning organization nearly $300,000 in free weight loss services for its employees. That prize translates into free access to Retrofit for up to 100 employees for a full year. American companies of any size and from any industry are eligible to enter by submitting a 500-word essay to www.retrofitmycompany.com by midnight on December 12, 2012. A panel of celebrity judges including New World Ventures’ J.B. Pritzker and Sagent Pharmaceuticals’ Jeffrey Yordon will select the winner based on the essay and extent to which Retrofit can transform the company. Retrofit will announce the Grand Prize winner on January 2, 2013. “Corporations have an outstanding opportunity to help their folks lose weight and improve their health,” Hyman says. “They also have a lot at stake financially, since a key driver of increased healthcare costs is the obesity epidemic.” By connecting with organizations to combat obesity on a larger scale, Retrofit hopes to reverse the weight problems faced by many Americans today. With related issues such as cardiovascular disease and Type 2 diabetes on the rise, the Retrofit program seeks to use the intersection of data and in-the-flesh health experts to fight the weight challenges facing our country and to drive down health costs at the same time. Visit Retrofit’s website, check out their BIC profile and follow them on Twitter at @retrofitme.
Images courtesy of Retrofit.
Tags: Contest, data, Retrofit, series A, weightloss .
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Timothy Kearney on 11/14/2012 10:11 pm
Congrats, Jeff! _________________________ Data Vulnerability Platform Risk I/O Raises $5.25M Series A http://www.builtinchicago.org/blog/data-vulnerability-platform-risk-io-raises-525m-series Blogs add blog Data Vulnerability Platform Risk I/O Raises $5.25M Series A posted by Amina Elahi on 11/15/2012 10:11 am 590 views 0 comments inShare.4 These days, companies possess an overwhelming amount of data. Those data form the basis of the very functioning of many organizations and, unfortunately, are frequently subject to outside break-ins. That’s why former Orbitz Chief Information Security Officer Ed Bellis founded Risk I/O, the world’s first vulnerability intelligence platform. This 1871 company announced Tuesday a Series A funding round that amounted to $5.25 million led by U.S. Venture Partners (USVC). Tugboat Ventures, Costanoa Venture Capital and Hyde Park Angels also participated in the round.
“Risk I/O will use the funds to accelerate and expand our precognition features around security prioritization as well as expand sales and marketing to meet increasing demand from enterprise users,” Bellis says. He cited USVC and Costanoa’s experience in the security industry as a major reason for seeking their investment. Tugboat and Hyde Park Angels, on the other hand, have served as mentors to the Risk I/O team since participating in their seed funding round in 2011. We’ve all heard examples of major corporations’ databases and servers being hacked and individuals’ information leaked onto the Web. These types of cyberattacks vary in size and seriousness, but you would be hard pressed to find a company comfortable with even a minor leak in customers’ personal data. That’s why Bellis thinks Risk I/O is important, even essential. He says it’s a centralized way for professionals to assess vulnerability data across the board, without having to rely on multiple, disparate methods for protection. “Risk I/O makes it easier for Security teams to quickly identify and remediate high-risk vulnerabilities and improve their overall security state,” Bellis says. “A security vulnerability is a technology weakness in either infrastructure or applications that make it possible for systems and information to be breached or hacked.” In addition to the raise, Risk I/O also announced the addition of USVP partner Jacques Benkoski to their board of directors. Bellis says Benkoski’s experience working with startups and in the security industry, as well as his network and knowledge in these respects, make him a valuable new member of the team. At the moment, Risk I/O has nine full-time employees as well as one consultant. Following this raise, Bellis is looking to add engineers and salespeople to his team. By allowing companies to monitor existing security tools in a single platform, Risk I/O hopes to improve the way businesses protect themselves. Visit Risk I/O’s website, check out their BIC profile, and follow them on Twitter at @RiskIO. ___________________________ Nik Rokop: What he’s up to Subject: Re: Nik, 2 people asked me what the heck is happening at the Knapp Ctr. these days. Date: 11/24/2012 9:19:21 A.M. Central Standard Time From: email@example.com To: RONALDMAY@aol.com
Happy Thanksgiving Ron,
Have them email me: firstname.lastname@example.org. Have them read our blog: blogs.iit.edu/entrepreneurship Have them subscribe to our email newsletter: http://www.stuart.iit.edu/entrepreneurship_academy/become_a_member.shtml
Learn what’s new & exciting in IIT entrepreneurship: http://www.iit.edu/magazine/winter_2011/cover.shtml — Nik Rokop Managing Director Entrepreneurship Academy Knapp Entrepreneurship Center Illinois Institute of Technology 10 W 35th St, 13th Fl Chicago, IL 60616 Phone: 312-567-3030 Cell: 312-404-4454 blogs.iit.edu/entrepreneurship email@example.com ___________________________ Rokop says he did not attend CEC dinner Subject: Re: BTW, saw your buddy Dave Baker at the CEC dinner. But I didn’t see you. Date: 11/24/2012 9:19:35 A.M. Central Standard Time From: firstname.lastname@example.org To: RONALDMAY@aol.com
I wasn’t there.
Learn what’s new & exciting in IIT entrepreneurship: http://www.iit.edu/magazine/winter_2011/cover.shtml — Nik Rokop Managing Director Entrepreneurship Academy Knapp Entrepreneurship Center Illinois Institute of Technology 10 W 35th St, 13th Fl Chicago, IL 60616 Phone: 312-567-3030 Cell: 312-404-4454 blogs.iit.edu/entrepreneurship email@example.com On Nov 24, 2012, at 2:18 AM, RONALDMAY@aol.com wrote: ____________________________ May here. Nik did show up at Technori, but he said he was not about to pay $800 for a ticket to the CEC dinner. KW, was it really $800? __________________________ Stuart Flack resigns from top job at Chicago Humanities Festival and for the first year in 20 years, I did not go to even a single event, after my yearly average has been 15 events, but I was too pooped out this year http://www.chicagobusiness.com/article/20121128/BLOGS03/121129810/stuart-flack-resigns-from-top-job-at-chicago-humanities-festival Stuart Flack resigns from top job at Chicago Humanities Festival November 28, 2012 Print | Email | Comments 12 4 2 Stuart Flack Stuart Flack has resigned as executive director of the Chicago Humanities Festival.
Read more: http://www.chicagobusiness.com/article/20121128/BLOGS03/121129810/stuart-flack-resigns-from-top-job-at-chicago-humanities-festival#ixzz2DiIl4T3D __________________________ It would appear that Jerry Mitchell has given up on pyramid marketing schemes and is back to writing about financing tech companies, a welcome thing if he’s not a flash in the pan: Jerry, meet Mike Rhodes, Katherine Born, Tim Saylor, Jason Rexilius, Tim Courtney, Andy Angelos among many others Midwest Entrepreneurs Forum Reminder Inbox x
MEF@mail-list.com 12:39 AM (7 hours ago) to me MIDWEST ENTREPRENEURS’ FORUM, INC., Volume 17, Issue 1 , Friday November 30, 2012 We have a strict anti-spam policy! We know how important your privacy is to you so we guarantee that we will NEVER sell your e-mail address. Please also note…you can remove yourself from our list at any time. We supply a link at the bottom of each e-mail to manage your subscription to The Midwest Entrepreneurs Forum Inc. This is a free newsletter
Index 1) Half of U.S. PE Firms Concentrated in Three States Illinois (3) 2) “The Series A Crunch Is Hitting Now. Have We Even Noticed?”, 3) The Series A Shortfall Isn’t News Bob Ackerman 1) Half of U.S. PE Firms Concentrated in Three States Illinois (3) Private equity firms from all across the country (34 states, plus Washington, D.C., to be exact) have been active this year. In fact, 678 U.S.-headquartered PE investors have completed at least one investment in 2012 to date, according to the PitchBook Platform. Those firms’ headquarters have been largely concentrated in certain areas, with the top three states for headquarters being home to 50% of the firms. New York is by far the most popular headquarters location for U.S. PE firms, with 27% calling The Empire State home base. California comes in second with a 14% share, followed by Illinois at just over 8% and Texas at just under 8%. Altogether, U.S. PE firms have invested in 43 countries in 2012 to date, but those firms have been largely focused on domestic investments, as 84% of their investments this year involved U.S. target companies. California and Texas, both ranked in the top five for U.S. PE firm headquarters locations, are the most active locations for those U.S. deals. The two states each account for about 5% of the global investment activity by U.S. PE firms this year 2) “The Series A Crunch Is Hitting Now. Have We Even Noticed?”, Anyone who is alarmed to learn that most of today’s seed-funded startups will not survive hasn’t been paying very close attention. In an article yesterday entitled “The Series A Crunch Is Hitting Now. Have We Even Noticed?”, Pando Daily founder Sarah Lacy exclaimed, “We know this: As many as a thousand companies who’ve received seed rounds won’t be around in a year – maybe six months.” Her story was the talk of social media, with a stellar hundreds of tweets and “likes” as of last night. But is Lacy’s story and attendant advice really news? Given the glut of angels and a shrinking number of active venture firms, it should hardly be surprising. According to the University of New Hampshire’s Center for Venture Research, the number of active angel investors topped 300,000 last year, up 20 percent from 2010. The ranks of the matchmaking service AngelList also swelled, with 2,500 investors joining the community last year alone, most of them in the last six months. (When AngelList got its start in the spring of 2010, it listed 80 accredited investors.) A study from UNH shows that angels put a fresh $9.2 billion to work in the first half of this year, a 3.1 percent increase over the same period in 2011. Meanwhile, the number of firms that are actually investing is dwindling, despite the best efforts of partners to save face. The NVCA pegs the official number of “active” traditional firms at 500, but according to NVCA President Mark Heesen, this number is misleading, because at least 200 of the firms only do a deal or two a year. As for Lacy’s advice to startups, again, I question what’s newsworthy. Lacy says the “tip that everyone agrees on is to avoid the so-called party rounds” that have sometimes included dozens of investors, observing that investors with small stakes may not take as much of an interest in what’s going wrong at the company. But more than a year and a half ago, investors were already publicly pointing out that while the rounds were enabling entrepreneurs to retain control, the cost of ensuring that no one meddled in their affairs could cost them dearly. As Naval Ravikant, cofounder of AngelList, told me back in April 2011, “The problem with having [so many] investors is that when it comes time to raise another round, get bridge financing, or sell the company, no single investor is incented to take the lead and help you make it happen.” (Ravikant was referring to Milk, a perfect case in point. The company raised $1.5 million from 24 investors and was out of business less than a year later.) Lacy also observes that “seed-stage entrepreneurs who have pushed for the maximum valuation possible haven’t done themselves any favors.” But nearly two years ago, serial entrepreneur Tony Conrad told me that he consciously looks to raise very small amounts of financing in order to make his companies look more palatable to potential acquirers. (His first company, Sphere, raised $3.9 million, and his second, About.me, raised $425,000. Both companies were purchased by AOL for a reported $25 million, respectively, not including earnouts.) Lacy is clearly a talented reporter, but the fact that many seed-funded companies will run out of money isn’t a new phenomenon, nor should it come as a surprise that it’s happening in larger numbers now. The writing has been on the wall all along. 3) The Series A Shortfall Isn’t News Bob Ackerman This is a real and growing problem. Start-ups are the seed corn of innovation and job growth in America. Good venture capitalists bring more than money to a start-up – they bring expertise, human capital and support networks that can materially enhance the potential of success for an entrepreneur and their start-ups – basically a “support system”. As these experienced investors dry-up, so do those support networks. And in the Venture community – the capital is congregating in later-stage focused larger pools of capital. It’s about Risk/Reward and a lack of patience on the part of investors. Angel investors have become an increasingly important element of the capital mix but as Sarah points out, there are tradeoffs – the “herding cats” phenomena, lack of consistent engagement and strategic leverage, on-going access to growth capital. As with Venture Capitalists, there are some great Angel investors and some that are not so great. The “Net Net” is that there is no such thing as too many experienced and committed investor supporting early-stage companies. Today, we have a shortage, one that is likely to grow worse if some of the tax changes discussed in the media come to fruition. Early-stage investing requires a compelling relationship between risk and reward. If you increase the risk (which is already high), the rewards must increasing on a commensurate level. If you reduce the rewards, the risk had better do down. Today, we are looking at an environment where risks are increasing (regulation, access to trained talent, payroll expenses) while rewards are potentially reduced in a material way (higher capital gains, healthcare surcharges on investment gains). The net impact of this dynamic will be a reduction in the appetite for higher risk (early-stage) investments. This dilemma will confront Angel and professional Venture investors alike. Potentially most troubling are some of the discussions that all investment returns should perhaps be taxed at current income levels. In such an environment, why would anyone take the high and protracted risks associated with early stage investing if their gains, if any, will be taxed the same as current income after years of risk. With discussed changes to the Federal tax code for current income combined with new tax rates on high earners in California (higher risk investors), the effective combined tax rate for current income is in the neighborhood of 55%. If you apply this tax rate, or anything close to it, against long term capital gains from investments in start-ups, the capital well is going to run dry, very quickly. This is not politics, its economics. 3) Wisconsin Pledges $340 Million To Five PE Funds The $83 billion State of Wisconsin Investment Board logged five private equity commitments totaling $340 million in the third quarter, according the system’s latest investment committee report. Three of the five commitments, about two-thirds of the total, were to funds with a European or Asian focus. Wisconsin’s pension authority manages about $6 billion in private equity and private debt capital, about 8 percent of its main fund’s assets. That matches the system’s target. The largest commitment was a $100 million pledge to the latest fund from Advent International, Advent International Global Private Equity Partners VII LP, which focuses mainly on North America and Western European buyouts. The fund closed in November, having raised $10.8 billion, making it the largest buyout fund raised entirely after the financial crisis began in late 2008. Advent Fund VII was on a fundraising tear this year, having secured commitments of $450 million from the California Public Employees’ Retirement System, $400 million from the Washington State Investment Board, $200 million each from the Minnesota Board of Investment and the Massachusetts Pension Reserves Investment Management Board, $150 million from the Illinois Teachers Retirement System, and $100 million each from the Texas Employees’ Retirement System and the Tennessee Consolidated Retirement System. More than a half dozen other major pensions committed less than $100 million to the fund. The fund has already made one significant investment, purchasing the holding company that makes Simmons and Serta mattresses from Ares Management and the Ontario Teachers’ Pension Plan. Advent’s prior fund, the 2008-vintage Fund VI, was returning a net IRR of 12 percent and a 1.2x return multiple, according to June 2012 data from the Washington State Investment Board. A second commitment, worth $75 million, was made to a European distressed debt fund from Apollo Global Management. The fund, Apollo European Principal Finance Fund II LP, is targeting up to $3.3 billion and has secured $200 million from the Pennsylvania Public School Employees’ Retirement System, $50 million each from the Louisiana Teachers’ Retirement System and the Louisiana State Employees’ Retirement System, and $25 million from the San Francisco Employees’ Retirement System. The previous fund in the series, the 2008-vintage Apollo European Principal Finance Fund LP, raised $1.9 billion. According to CalPERS data from March 2012, that fund was returning a net IRR of 4 percent and had a 1.1x return multiple. A third commitment with an overseas focus was a $40 million pledge to FountainVest China Growth Capital Fund II LP, a China-focused growth capital fund from FountainVest Partners, which is based in Hong Kong. The fund is reportedly seeking to raise $1.25 billion. So far this year, Fund II has garnered commitments of $150 million from the Washington State Investment Board and $50 million from the San Diego County Employees Retirement System. The 2008-vintage debut fund from FountainVest was returning a net IRR of 7 percent along with a 1.1x return multiple, according to June 2012 data from the Washington State Investment Board. Wisconsin made a $75 million commitment to the newest fund from Minnesota-based Wayzata Investment Partners, the Wayzata Opportunities Fund III LP, a mid-market buyout and distressed debt fund. The fund, which has a $2.5 billion target, has so far received $150 million commitments from both the Minnesota Board of Investment and the Massachusetts Pension Reserves Investment Management Board. Other commitments to the fund include $100 million from the Los Angeles County Employees Retirement Association, $75 million from the Texas County & District Retirement System and $50 million from the Kentucky Retirement System. Wayzata’s previous fund, the 2008-vintage Fund II, was producing an IRR of 16 percent along with a 2x investment multiple, according to March 2012 data from CalPERS. The final commitment from Wisconsin was $50 million to the latest effort from Los Angeles-based Clearlake Capital Partners, Clearlake Capital Partners Fund III LP. The fund, which will focus on mid-market buyouts and special situations, is targeting $600 million. Already, the fund has received commitments of $75 million from the Los Angeles County Employees Retirement Association, $50 million each from the New York State Teachers’ Retirement System and the Illinois Teachers’ Retirement System, $40 million each from the Connecticut Retirement Plans and Trust Funds and the West Virginia Investment Management Board. It’s easy to see the reason behind the huge interest in this fund. The firm’s prior fund, the 2010 vintage Fund II, has so far returned a net IRR of 46 percent along and a return multiple of 1.5x, according to March 2012 data from CalPERS.y on top of Chicago business with our free daily e-newsletters __________________________ Richard Cross: Defends his and Nural’s job at BofA RE: The May Report: 11/29/2012: My informal survey of attendees of Technori’s November pitch Tuesday night had an interesting twist: for the first time “None of the above” came in second and come to think of it, I’ve never had people saying they did not l Inbox x
This morning I got a very disturbing phone call. My cleaning lady has broken her hand so she won’t be able to come by this afternoon. This means I will be living in filth for the next month. This is the kind of news you like to print in the May Report, so I thought you should know.
I know you’ve been telling me and Nurul that our days at Bank of America are numbered, so I will say this… Nurul is hard-working, smart and very talented, so unless something very strange happens I expect I’ll be working with him for the next 30 years. And yes, I do think that I’ll be around for a long time because I work hard and I do know where I buried the bodies, especially with respect to the corporate online banking platform that my old team supported here in Chicago for the past ~15 years. I’m proud of what I’ve done at Bank of America and I wish that when I go to networking events people would stop suggesting that we’re all about to be laid off. I know that Nurul and I are both proud of the work that we do for the Bank. We would rather be talking about the good things that the Bank does for the community, like sponsoring the Chicago Marathon and helping local businesses get financing, rather than fielding questions about how many more days we expect to be working for the Bank.
From: The May Report [mailto:firstname.lastname@example.org/tmr] Sent: Thursday, November 29, 2012 5:42 PM To: Cross, Richard N Subject: The May Report: 11/29/2012: My informal survey of attendees of Technori’s November pitch Tuesday night had an interesting twist: for the first time “None of the above” came in second and come to think of it, I’ve never had people saying they did not li…
_________________________ Tarkus Murphy: Information Superglacier™ Report Between the Holidays
Information Superglacier™ Report Between the Holidays Inbox x
Tarkus email@example.com 8:00 AM (1 hour ago) to me, Ronald From your Nov 29th report, it looks like you are back up and about. Take care of your health!
Some activity but no 2012 news on the Information Superglacier™.
I’ve been watching the Chicago Broadband RFI with interest. All these years after “Project NEST” and the Ravenswood Corridor still needs broadband. I’ve been speaking with Doug Power in 2012. I was very happy to see that the issue of Broadband to the Communities still has some of its original champions, Bruce, Harold, Layton Don and many more. On the videos, I see a lot more grey hair on the groups who have been fighting for community broadband and crossing the urban and rural digital divides.
By moving to the Information Superglacier™ from Chicago, I have shifted from the urban to the rural digital divide. Over the past few years, I have made inroads for both with hybrid fiber / 4G Wireless projects (aka Fiber to the Tower and, eventually, ITU Advanced Wireless). Since some of the cellular carrier have now adopted the method (and are sharing it with the cable companies), the next focus is to deliver content FROM the towers.
I have only begun to work with a few of the NYS Centers of Excellence and Advanced Technologies on some of the next generation wireless systems. The existing 4G speeds from the carriers are great here (truly FTTT not Tower to co-ax). The base stations are shrinking and the actual antennas are not that large (still need elevation). This means that some of the old real estate used to support cable can now be used to support new data processing and storage. New fiber means that remote areas can go from underserved to broadband in a very short time period. Depending on the carrier, the shift can be accomplished with equipment from the local electronics store.
The more difficult part (here) has been creating the infrastructure that makes such services to become “unplug & play.” Once a user is no longer underserved, they also want to be mobile! We still have areas in this region where people drive to hilltops to make cell calls. People not far from here still hear the sound of a dial modem when they connect to the Internet. Some are within a few valleys of the fastest through put networks on earth.
2012 has been a frustrating year with a distinct shift in my work from proposals to projects. Proposing multimillion dollar projects has now given way to the mechanics of bringing them to life. On the plus side, the resources that I have brought to the region (or discovered, right here) are large regional or national (can eventually look outside NY).
Letters of Intent and projects from 2011, remain undone, unstarted. The simple was sacrificed for the complex.
The creation of business with either clean rooms, data centers, energy systems can run into the tens to hundreds of millions of dollars.
My data business goes in the opposite direction. The footprint of medical, energy, wireless, public safety, smart grid and other technologies are getting smaller.
But the new smaller systems can consume more power per square foot. In the aggregate, neither data centers nor clean rooms are easy to be “green.”
I think that we are still a bit away from a “net zero energy building” for clean rooms and data centers, but at the campus level there can be several “net zero energy buildings.”
The large problem now is that single building or campus projects take months (years) and the investors in the land and buildings are often different than the people who own the companies within them. I have brought architects, engineers, real estate companies energy generators, energy efficiency people, bankers, brokers (bandwidth, colocation, finance, etc.) to the table.
In 2009, a $20 M project in an existing building, $ 25 M Photonics and a $ 25 M manufacturing project were large. A $ 200 M Fiber to the Home project was considered too large (same group now has two multibillion Euro projects in Europe).
Fast forward to 2012 and $ 100 M single projects on large campus plates are possible. The existing buildings on a few of the local campus projects were filled.
I would have preferred to have done the same kind of development work on private office spaces because it gives the real estate groups something to own (rather than engage in long term leaseholds for managed campuses).
Worse, I am not in real estate, construction, financing or any of the fields that are needed in order to follow through on the development of new fiber infrastructure.
My projects, clients, etc. tend to be the people who take up racks or rooms in these clean rooms and data centers. A $ 50 M funding for an entire line of business (more likely $ 5 M) is nowhere near as large or as complex as creating the kinds of buildings, energy infrastructure (for redundant, conditioned power with sufficient backup), hybrid fiber / 4G wireless infrastructure with sufficient cross connects to top tier and regional networks and making sure that the food and housing resources are available, nearby, for new workers.
As the whispers of the first snows begin to blow across the Information Superglacier™, I fear that it may be Spring before the backhoes arrive for any NY project. I may move more quickly with a Chicago company funding a project in a different State.
A year with much promise draws to a close with no less promise for 2013, but with much work left to begin.
I have far more resources (which has helped me to develop projects in OTHER States) but as the cold approaches, I think that this may be a good time to return to some active Telemedicine, Distance Learning and medical records projects. They can be run over broadband in the hospitals and I should be able to bring some new services to medical communities around the Community Anchor Institutions (in this case, hospitals).
Progress INSIDE the existing campus buildings has moved along. Tenants continue their build out and one of the switch rooms which used to be small and quiet may now require ear plugs. Even data over fiber makes noise when it hits the non fiber systems.
Superstorm Sandy was so large that we were hit by North winds at the same time that Sandy made land fall. I lost a few trees. We also lost a critical part of the garage BEFORE the storm, so the garage was exposed to the elements.
You may recall that “Project White Deer” was my proposal to Candidate Spitzer to back up Wall Street Systems here (much further from the coast). Given the size of Sandy and its impact across the North and Midwest, I’m beginning to wonder if Chicago is far enough. Certainly the data systems in lower Manhattan and other parts of NY had better plan for future storms. Despite the size, Superstorm Sandy was not even the strongest storm possible. __________________________ Tuesday, December 4: Don’t forget to register for the CEC’s 2013 Startup Forecast Don’t forget to register for the 2013 Startup Forecast Inbox x
CEC firstname.lastname@example.org via auth.ccsend.com Nov 27 (6 days ago) to me Images are not displayed. Display images below – Always display images from email@example.com Having trouble viewing this email? Click here DON’T FORGET TO REGISTER – CEC 2013 Startup Forecast Recent News @ 1871 Google Mentor Program Announced Twitter CEO Dick Costolo visits 1871 (Blog)
Events at 1871 11/28 Startup Grind Chicago Hosts Jeff Hoffman (Priceline, uBid co-founder) 11/29 Crain’s Recharge featuring the 1871ders 12/4 CEC Startup Forecast AMA Holiday Networking Party 12/12 Infonomics and Big Data: How Much is Your Data Worth and How do You Manage It? Community Events 11/27 Co-founder Dialogues 11/29 Tech Cocktail’s Chicago Mixer & Startup Showcase 12/4 Entrepreneurs Unpluggd: Startup Stages: Launch, Growth and Beyond 12/5 Funding Feeding Frenzy 12/6 Technori Starter Series: Beyond the Ping Pong Table 12/7 CloudBash 2012 12/18 Founder Institute Information Session Greetings!
Don’t miss the CEC’s 2nd Annual 2013 Startup Forecast on December 4th at the Chase Auditorium. This is your chance to hear from our incredible group of industry leaders as they share their forecast for the important startup trends of 2013. http://2013startupforecast.eventbrite.com/# Hear from the Who’s Who of Chicago’s entrepreneurial community including: Howard Tullman – Trends in Digital Neal Sales-Griffin – Talent Development Brett Goldstein – Open Data & Trends in City Government Lon Chow – Startups & Funding Tech Trends Panel Kevin Willer, Moderator Harper Reed Luke Shepard Marcy Capron Craig Ulliott Check out last year’s highlights video.
So what are you waiting for? Register today. The event may sell out! ____________________________ Thursday, December 6: Social Media Club Chicago Holiday Party and Panel Subject: Social Media Club Chicago Holiday Party and Panel December 6 Date: 11/26/2012 8:56:29 A.M. Central Standard Time From: firstname.lastname@example.org To: email@example.com
The SMOBILE Holiday Party sponsored by AT&T Date: Thursday, December 6, 2012 Doors Open: 5:00 pm CT Time: 5:00 pm – 8:30 pm CT; Panel 6:00-6:30 pm Place: AT&T 225 W. Randolph Chicago, Illinois 60606 Register here: http://smcchicagosmobileholidayparty-estw.eventbrite.com/# Panel: Rick Wion, Director of Social Media at McDonald’s Corporation @rdublife Brian Snyder, Director Digital, Golin Harris @bsniz Blair Klein, Executive Director – Social, Digital & Emerging Media at AT&T @bklein34 Moderator: Jeff Willinger, Director of Social Computing at Rightpoint & SMCChicago President $10 advance Entry includes: Appetizers & Dessert sponsored by AT&T Plus more bites In Kind Domino’s, Cafe Roti, Bao Wow, Cupcakes Bar will be serving: Beer, Wine, Water, & Mixed drinks Best regards, Jeff …… Jeffrey S. Willinger 312.622.2300 cell firstname.lastname@example.org ______________________________ Tuesday, Dec. 4: BNC VC Group: Host: Polsinelli Shughart, but you have to watch the slippery wording from Len Bland: “Two companies received investment as a result of their BNC VC Group presentation! Youtopia.com continues to have money raising success. Everyonetexts.com also received angel investment.” Yes, two companies got funding, but they may not have been Youtopia.com or Everyonetexts.com, even though those two firms did present at BNC
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Sign up here: 123 Signup 12/4/12, 5:00 PM – 8:00 PM Polsinelli Shughart, 161 N. Clark. 41st Floor, Chicago, IL Investor Follow-up Meeting/Conference Call 12/6/12, 3:00 PM, Financial Life Planning, 650 Dundee Rd., Suite 270, Northbrook, IL 60082
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Funding Feeding Frenzy 12/5 News and Articles Former presenter, Champion Medical Technologies wins a Chicago Innovation Award for Recall Connect. Two companies received investment as a result of their BNC VC Group presentation! Youtopia.com continues to have money raising success. Everyonetexts.com also received angel investment. Polsinelli Shughart PC is a national law firm with more than 600 attorneys in 16 cities from Washington, D.C. to Los Angeles. Our attorneys build enduring relationships by creating value through our legal services – with passion, ingenuity and a sense of urgency. Whether you need legal counsel to structure your business or organization; to ensure it is compliant with industry or government regulations; or to protect it in litigation situations, Polsinelli Shughart has the broad range of experience and depth of attorneys to help you meet your legal objectives. Our attorneys think like entrepreneurs. Problems are solved, not prolonged. We mobilize with a sense of urgency. We provide clear answers but don’t stop there. Meaningful perspective and counsel always follow.
We assist our start-up company clients in numerous ways, including developing intellectual property strategies, launching websites, raising capital, acquiring and selling technologies and companies, and developing strategic partnerships. In addition, we prepare and review a wide range of technologies, vendor and licensing agreements. We also protect our clients’ intellectual property assets through trademarks, copyrights, patents, licensing agreements, employment agreements, privacy policies, litigation, technology development, trade secret protection and research and development issues. Thanks to our firm’s entrepreneurial background, we also have represented some of the Midwest’s hottest new companies with private equity offerings – including one of the fastest growing Internet security companies and a pioneer in the field of alternative energy. If you would like more information on how we can assist you, please contact Chris Pesch at (312) 873-2968 or James Asmussen at (312) 873-3697. Need funding to grow your business? Looking for meaningful, exciting investments? Concept Equity Group helps close the funding gap between entrepreneurs and investors. We prepare entrepreneurs by: Introducing vendors, customers, talent, and investors Preparing investor communications Providing strategic insight We engage investors by: Learning their creativity and passion Leveraging their experience Qualifying entrepreneurs We match successful business people with entrepreneurs. Contact firstname.lastname@example.org if you would like to be included in a list of recommended business people. More about our services
Three entrepreneurs make their pitch for capital. 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 Midwest Renaissance Fund, and David Carman, CEO of Business Network Chicago, lead the BNC Venture Capital Group. Each presentation lasts 10 minutes, followed by a 10 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 – Presentations
Polsinelli Shughart 161 N. Clark Street, 41st Floor Chicago, IL 60601 Sign up at123Signup – Event cost $25 (late $30) Evening Meeting includes hor d’oevers and beverages Call Len Bland at 847-317-0656 or write email@example.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.
DISCLAIMER: Neither the BNC Venture Capital Group, Concept Equity Group, Inc. (together with BNC Venture Capital Group, the “Sponsor”) nor the host for this event, Polsinelli Shughart PC (Polsinelli), has verified, approved or endorsed any materials or information provided (whether in writing or orally) by the presenters, audience or other participants at this event . UNDER NO CIRCUMSTANCES SHALL SPONSOR OR POLSINELLI BE RESPONSIBLE IN ANY MANNER FOR, AND EACH OF SPONSOR AND POSINELLI DISCLAIMS ALL LIABILITY WHATSOEVER IN RELATION TO, ANY MATERIALS OR INFORMATION PROVIDED BY, OR THE CONDUCT OF, THE PRESENTERS, AUDIENCE OR PARTICIPANTS AT THIS EVENT OR ANY OTHER THIRD PARTIES (INCLUDING, FOR EACH OF SPONSOR AND POSINELLI, ANY MATERIALS OR INFORMATION PROVIDED BY, OR THE CONDUCT OF, THE OTHER). In addition, any written materials provided by POLSINELLI, and any presentations made generally to the participants at this event by POLSINELLI, are solely for informational purposes and are not intended to constitute legal advice or to create an attorney-client relationship.
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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
Calling All Entrepreneurs and Business Owners The application deadline to present your business at the Funding Feeding Frenzy is approaching. This is YOUR opportunity to potentially lock in funding to help grow your company. Don’t wait, REGISTER NOW! Use Discount Code: BNC Application Deadline Nov, 1 2012 Don’t Have a Business to Present? Tell Your Friends, maybe they do… *Presenting Companies receive a FREE presentation coaching session* **Engage one-on-one with Investor Panelists at the exclusive “Meet the Money” VIP luncheon** __________________________________
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