Wednesday, 18 May 2011 12:00:00 EST
Congratulations to our clients
The Southside Business Technology Center congratulates its clients who received prestigious awards at the Business Appreciation Luncheon co-hosted by the MHC Chamber of Commerce and MHC Economic Development Corporation on May 17, 2006 as follows:
Paul Ashbrook, Owner, Ashbrook Audiology & Hearing Aid Center 2006 - Small Business Person of the Year Award
Kenneth Lovelace, Owner, KBEL Transport, LLC - Small Business of the Year Award
John F. "Jay" Edelen, Jr., Vice-President, J.G. Edelen Co., Inc. - Cutting Edge Award
Martinsville Bulletin articles on the luncheon
Congratulations to our clients
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Business Analyst Position
Monday, 18 July 2011 12:00:00 EST
Business Analyst Position
The Southside Business Technology Center (SBTC), a business consulting organization, seeks applications for a full-time Business Analyst (BA) position.
The qualified candidate should expect to research, develop, analyze and complete business consulting projects for businesses in Virginia under the leadership of the Director of Operations. The Business Analyst's primary responsibilities include: determine business consulting project requirements and deliverables, develop project timelines/outlines, lead the market research and analysis efforts, develop financial models and forecasts, prepare top-quality reports for client delivery, provide day-to-day tactical oversight of the project staff, implement overall Project Management functions, and assure that the SBTC Code of Ethics is followed throughout the project development process.
MBA and three years experience in management or business consulting with experience in market research and analysis is required; experience as a business analyst is preferred. The candidate should have excellent analytical, problem solving, technical writing and interpersonal communication skills. Candidate must demonstrate full competence with the following software packages: MS Word, Excel, Power Point, Visio, MS Project, and SPSS preferred.
Salary: Commensurate with experience.Location: Southside Business Technology Center in Martinsville, Virginia.
Interested applicants should submit a letter of interest, resume and the names of three professional references to: Regina Haynes, Southside Business Technology Center, 300 Ringgold Industrial Pkwy., Suite 102, Danville, VA 24540 or e-mail it to: rhaynes@southsidebtc.org. Review of applications will begin immediately and continue until the position is filled.
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E3 PILOT PROJECT IMPLEMENTATION GRANT AWARD
Thursday, 29 March 2012 12:00:00 EST
E3 PILOT PROJECT IMPLEMENTATION GRANT AWARD
FOR IMMEDIATE RELEASEMarch 27, 2012Contact:Jeff Kohler, GENEDGE ALLIANCE 276-666-8890 x224Clark Casteel, Danville Regional Foundation (DRF) 434-483-4271
GENEDGE ALLIANCE ANNOUNCES E3 PILOT PROJECT IMPLEMENTATION GRANT AWARD OF $100K BY DANVILLE REGIONAL FOUNDATION TO MATCH GRANT AWARD BY THE VIRGINIA TOBACCO INDEMNIFICATION AND COMMUNITY REVITALIZATION COMMISSION
Martinsville, Va- GENEDGE ALLIANCE, in partnership with the Southside Business Technology Center (SBTC), received funding approval from the Danville Regional Foundation (DRF) on March 13, 2012 in the amount of $100,000 to co-fund the E3 Pilot Project Implementation program in Danville/Pittsylvania County. The Tobacco Commission has already committed $250,000 to the launch of E3, pending dollar-for-dollar match. The award will provide for the establishment of a pilot group of manufacturers to participate in the E3 Pilot, and for the funding of technical assessments that lead to the implementation of energy and environmentally sustainable strategies within local manufacturing businesses.
E3 (which stands for Economy, Energy, and Environment) is a federal initiative that is a model of collaboration between manufacturers, utilities, local economic development entities, and federal resources. E3 is intended to enable economic growth in local communities by working most efficiently with manufacturing businesses providing technical assessments, training, and implementation of energy and environmentally sustainable strategies within local manufacturing businesses.
GENEDGE ALLIANCE Executive Director Jeff Kohler states, "A similar E3 Pilot Program exists with our affiliate, The Manufacturing Technology Center (MTC) in Southwestern Virginia."
MTC Executive Director Keith Thompson adds, "Our two-year E3 initiative began in October 2011 and has provided comprehensive technical assessments for six regional companies. Over $15,000,000 of potential economic savings plus significant improvements in environmental performance has been identified."
DRF President & CEO Karl Stauber says, "DRF is proud to participate in this collaborative effort with TIC, SBTC, GENEDGE ALLIANCE, economic developers in both the county and city, and most importantly manufacturers throughout Pittsylvania County and Danville. This effort to increase productivity and improve the sustainability of our region's manufacturers is an important one. Our hope is that this project will allow these companies the ability to better compete in the global marketplace which is a win-win for the companies and our region."
"E3 projects in other communities have produced significant benefits," said Jeremy Stratton, director of the Danville Office of Economic Development. "These benefits are realized not only by manufacturers but everyone in the community. We are pleased that the SBTC has pulled the resources together to build this program for the Danville area."
"The Tobacco Commission's goal is to help bring jobs to the footprint. The E3 project will help manufacturing companies stay competitive in a very tough market place. This will keep jobs and bring jobs to our area," says Delegate Danny Marshall (14th District).
About GENEDGE ALLIANCE: GENEDGE ALLIANCE is the National Institute of Standards and Technology Manufacturing Extension Partnership (NIST MEP) affiliate for the Commonwealth of Virginia. GENEDGE helps Virginia industries compete. Since 2000, our clients have reported over $2 billion in quantified economic impact for companies. For more information on GENEDGE ALLIANCE visit www.genedge.org .
About the Southside Business Technology Center (SBTC): The SBTC provides business consulting services to local and regional private businesses, economic development organizations, non-profit institutions and local governments of Southside Virginia, by providing tangible business consulting services for existing and newly established businesses in the areas of business plan development, feasibility studies, sources of capital, market research and analysis, financial analysis, operational analysis and mergers and acquisitions. For more information on SBTC visit www.southsidebtc.org .
About the Danville Regional Foundation (DRF): The Danville Regional Foundation is a catalyst for innovation and an agent for transformation for the Dan River region. The Foundation is committed to development, promotion, and support of activities, programs, and organizations that address the health, education, and well-being of the region's residents. For more information on DRF visit http://drfonline.org .
About the Danville Office of Economic Development: For information visit http://discoverdanville.com/ .
About the Virginia Tobacco Commission: The Tobacco Indemnification and Community Revitalization Commission (Virginia Tobacco Commission) is a 31-member body created by the 1999 Virginia General Assembly. Its mission is the promotion of economic growth and development in tobacco-dependent communities, using proceeds of the national tobacco settlement. For more information visit http://www.tic.virginia.gov/ .
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Senior Business Analyst Job Opening
Monday, 07 May 2012 12:00:00 EST
Senior Business Analyst Job Opening
Open Until FilledSenior Business Analyst position
The Southside Business Technology Center (SBTC), a business consulting organization, seeks applications for a full-time Senior Business Analyst (BA) position.
The qualified candidate should expect to research, develop, analyze and complete business consulting projects for businesses under the leadership of the President/CEO. The Business Analyst’s primary responsibilities include: determine business consulting project requirements and deliverables, develop project timelines/outlines, lead market research and analysis efforts, develop financial models and forecasts, prepare top-quality reports for client delivery, provide day-to-day tactical oversight of the project staff, implement overall Project Management functions, and assure that the SBTC Code of Ethics is followed throughout the project development process.
MBA and 5 years experience in business consulting with experience in market research and analysis is required; experience as a business analyst is preferred. The candidate should have excellent analytical, problem solving, technical writing and interpersonal communication skills. Candidate must demonstrate full competence with the following software packages: MS Word, Excel, Power Point, Visio, MS Project, and SPSS preferred.
Salary: Commensurate with experience.Location: Southside Business Technology Center in Danville, Virginia.
Interested applicants should submit a letter of interest, resume and the names of three professional references to: Regina Haynes, Southside Business Technology Center, 300 Ringgold Industrial Pkwy., Suite 102, Danville, VA 24540 or e-mail it to: rhaynes@southsidebtc.org. Review of applications will begin immediately and continue until the position is filled.
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SBTC RECEIVES $85,000 GRANT TO SUPPORT SMALL AND EMERGING RURAL BUSINESSES
Monday, 02 July 2012 12:00:00 EST
SBTC RECEIVES $85,000 GRANT TO SUPPORT SMALL AND EMERGING RURAL BUSINESSES
The Southside Business Technology Center (SBTC) has received an $85,000 Rural Business Enterprise Grant from the United States Department of Agriculture (USDA) to provide high-quality tangible management consulting services to rural, Southside Virginia businesses.
“This is great news for the SBTC and our clients,” commented Eva Doss, President & CEO of the SBTC. “The grant will allow the SBTC to maintain and further expand business consulting services that advance the economic growth of the Southside region.”
The Rural Business Enterprise Grant (RBEG) program provides grants for rural projects that finance and facilitate development of small and emerging rural businesses help fund distance learning networks, and help fund employment related adult education programs. To assist with business development, RBEGs may fund a broad array of activities. The grant will allow the SBTC to serve private businesses which will employ 50 or fewer new employees and have less than $1 million in projected gross revenues.
The principal objective of the SBTC’s initiative is to achieve measurable economic development results by providing high-quality tangible management consulting services to rural, Southside Virginia businesses. “The economic transformation in Southside and diversification can only happen by further developing the region’s human infrastructure, technology infrastructure, competitiveness in economic development, and civic infrastructure,” explained Doss.
As the SBTC expands its ability to work with new and prospective businesses, the organization is continuing to pursue resources and opportunities that will allow the SBTC to grow its management and business consulting services for the region. “We hope this is the first of many announcements to support the economic transformation of our region as we focus on support for business start-ups and expansions,” Doss added.
The SBTC was created in 2005 to provide management/business consulting services to enable new business creation and existing industry transformation to the economy. The SBTC uses professional staff business analysts, student interns, and expert consultants to provide business consulting services for businesses in the areas of business plan and proposal development, feasibility studies, business start-up procedures, finding sources of capital, market research and analysis, financial analysis, operational analysis, and legal issues. The Center, during its operation has been instrumental in developing business skills among start-up and expansion businesses in Southside Virginia.
The SBTC currently operates offices in Martinsville and Danville. For more information about the SBTC, please visit the website at www.southsidebtc.org or email evadoss@southsidebtc.org.
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DRF Announces $10 Million Grant to Fund Entrepreneurship Initiative
Monday, 23 July 2012 12:00:00 EST
DRF Announces $10 Million Grant to Fund Entrepreneurship Initiative
Danville, VA (July 23, 2012) – DRF announced today a $10 million grant to fund an entrepreneurship initiative to benefit the residents of the City of Danville and Pittsylvania and Caswell counties. In a global economy, investment in those who create businesses is essential.
Said DRF President & CEO Karl Stauber, “In today’s global economy, regions have to create new competitive advantage every day. Southern Virginia is doing this, but now we are taking it to the next level. Times have changed. We are no longer going up against cities just down the road, but against other countries—it is not South Boston, but South Korea, not Martinsville, but Malaysia. The focus of this grant is attracting and retaining serial entrepreneurs, people who will create multiple new businesses over time, hiring high skilled, high wage employees. Branch plants will continue to be an important part of our economy, but now we will have a platform to make our region even more attractive. The net effect to the Dan River Region from entrepreneurism is constant creation of businesses and living wage jobs. This is how we gain a competitive advantage, now and in the long-term.”
The grant was made to the Southside Business Technology Center (SBTC), an organization that until now provided business consulting services in the region. Going forward SBTC will adopt a new name and focus on the recruiting, development, and retention of entrepreneurs to the area in cooperation with the Danville Office of Economic Development. In addition, SBTC will offer seed fund management, business consulting and mentoring, and incubation for start-up entrepreneurs.
Entrepreneurs both locally and from outside of the region are eligible. With research universities and hubs of technology within an hour or two of Danville, a wealth of present and budding entrepreneurs in the fields of technology, business, and engineering are just a quick drive away. This initiative is also the opportunity for many of those who grew up in the Dan River Region to return home and create their own business, while crafting jobs for others who call the area home.
SBTC President & CEO Eva Doss commented, “This new initiative is unique in its scope. Nationwide, many organizations strive to offer entrepreneurs financial or coaching assistance, but few organizations offer a comprehensive package that offers everything that entrepreneurs need to succeed – funding, training, mentoring, business consulting, technical assistance, and continuous coaching. Other agencies offer business counseling in our area to local small businesses mainly in retail. This new initiative offers actual tangible resources to entrepreneurs from seed investments to subsidized rent, consulting and mentoring in cooperation with the Danville Office of Economic Development, VT KnowledgeWorks, IALR, and the Chamber of Commerce under the leadership of the SBTC.”
The initiative will be housed at the SBTC, currently located at the Dan River Business Development Center. The SBTC, as part of the implementation process will relocate to the River District where the other new start-ups will be housed, as well. We plan to have all legal and preparatory work associated with the establishment of the Seed Fund, and the recruitment of new employees finalized within the next 3-4 months, at which point we will be able to accept applications.” The full payout of the $10 million grant is based upon performance indicators.
More information about DRF, its grant opportunities, and this recognition award program can be found on its website, http://www.drfonline.org/.
Danville Regional Foundation is a catalyst for innovation and an agent for transformation. Understanding that significant community change takes time, DRF invests for the long term in efforts that promise sustained positive impact for the Dan River Region. DRF is committed to activities, programs, and organizations that address the health, education, and well-being of residents of Danville, Pittsylvania County, and Caswell County.
The SBTC currently provides business consulting services at heavily subsidized rates, making it affordable for businesses to gain insight into their company, market environment, and work practices. This helps businesses improve their current and future bottom line. The new SBTC will expand its mission to advance economic growth in Southern Virginia not just by providing business consulting services, but to add to it service offerings Entrepreneurship retention, recruitment and development, Seed Fund management, Business Mentoring/Training/Coaching, and Incubation services.
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The Launch Place Appoints Seed Fund Manager
Wednesday, 30 January 2013 12:00:00 EST
The Launch Place Appoints Seed Fund Manager
(Danville, VA) – The Launch Place has named Lynn E. Allen Manager of The Launch Place Fund. The Fund was established as part of The Launch Place’s Entrepreneurship Initiative funded by a $10 million Danville Regional Foundation grant in July 2012. This newly created fund will provide concept and seed stage investment for innovation-based companies in the Danville region that exhibit significant potential for growth and economic impact.
"I'm really looking forward to working with all the folks in Danville and the surrounding region who have demonstrated such extraordinary vision and commitment to their economic future,” says Allen. “It is a unique opportunity, and I feel privileged to be part of it."
Allen has a long track record of assisting new enterprises and positioning them for long-term success and sustainability. She has worked with both public and private stakeholders to structure local venture initiatives and to raise first time venture capital from institutions and individuals; and she has lead numerous training programs for entrepreneurs and angel investors. She holds a Bachelor of Arts degree from the University of Kentucky and a Master of International Management from the University of Denver. She is a board member of The Enterprise Corp., Associates in Pediatric Therapy, BYNDL, Inc., and The David School. She also serves on the Board of Economic Advisors for Purdue’s Emerging Innovations Fund, is an advisory board member of the Kentucky Energy Sector Partnership, and was chair of the Jefferson Community and Technology College, Annual Scholarship Event, 2012.
“We are very excited about Lynn’s arrival to Danville. Her knowledge, experience and network bring a strong professional skill-set to The Launch Place Entrepreneurship Initiative,” said Eva Doss, President/CEO of The Launch Place.
For more information contact Eva Doss, President/CEO of The Launch Place, at (434) 483-4301, extension 231 or EDoss@thelaunchplace.org.
“The Launch Place energizes and diversifies our regional economy through entrepreneurial development and business consulting services.”
The Launch Place, a member of the VT KnowledgeWorks Entrepreneurship Alliance, is the lead organization overseeing the planning, development, implementation and evaluation of a comprehensive Entrepreneurship Development Plan for the River District in Danville, Virginia. The objective of the Plan is to recruit and assist emerging and serial entrepreneurs who locate within the River District.
The Launch Place also provides business consulting services to existing and newly established businesses throughout Southern Virginia and Northern North Carolina in the areas of business plan development, feasibility studies, investments, market research and analysis, financial analysis, operational analysis and mergers and acquisitions.
The Launch Place is a 501 (c)(3) non-profit organization governed by an independent Board of Directors. The Launch Place Fund, a Virginia non-stock corporation which invests in new start-ups in Danville, is governed by The Launch Place Fund Board of Directors. The Launch Place receives financial assistance from the Danville Regional Foundation, USDA, City of Martinsville, and Henry County.
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The Launch Place invites entrepreneurs to apply for seed funding
Thursday, 21 March 2013 12:00:00 EST
~The most innovative and creative entrepreneurs are eligible to up to $200,000~
Danville, Va. (March 21, 2013) –The Launch Place announced today it is now accepting applications from serial and emerging entrepreneurs in need of seed funding and other business support services, such as business consulting, mentoring and training, and office and housing subsidies.
According to The Launch Place officials, while all entrepreneurs are eligible for consideration, business ideas related to engineering, high technology and bio-materials are preferred.
“We have the flexibility to structure deals as debt, convertible debt or equity. While investments will vary, we anticipate investing between $50,000 and $100,000 with the ability to go as high as $200,000 per startup,” said The Launch Place’s Seed Fund Manager Lynn Allen.
Awarded a $10 million grant from the Danville Regional Foundation in July 2013, The Launch Place increased its capacity to offer business consulting services and expanded to include entrepreneurship recruitment, development and retention resources and assistance.
“We are looking for good ideas and sound business plans. With our investments and unique wrap-around business consulting and network of support services, we are confident the most innovative and creative entrepreneurs will thrive in Southern Virginia,” said The Launch Place President & CEO, Eva Doss.
For consideration, go to www.TheLaunchPlace.org to fill out the seed fund application.
As an 501 (C) 3 nonprofit organization, The Launch Place strives to energize and diversify Southern Virginia’s regional economy through entrepreneurship development and business consulting services.
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Contact:
Eva DossPresident & CEO434/483-4301 (O)336/908-8806 (C)
Lynn AllenSeed Fund Manager434/483-4301 (O)502/727-0252 (C)
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The Launch Place: One-stop shopping for business growth
Sunday, 28 April 2013 12:00:00 EST
In these times, competition is keen for jobs and investments that will spur economic development. It takes a variety of strategies to bring those things in, and one way is to grow them.
The Launch Place aims to be one-stop shopping for entrepreneurial development, with consulting, mentorship, funding and real estate. In October, the group received a $10 million grant from the Danville Regional Foundation to expand its services over five years. A $4 million seed fund has been established with that grant to help startups generate investments.
“We are really trying to get young entrepreneurship,” said President Eva Doss.The Launch Place is a rebranding of the Southside Business Technology Center, which offered business consulting. With the added focus on entrepreneurship and the investment of DRF, it became The Launch Place. It is moving into the Old Belt One building this week.
Doss says that 72 percent of new jobs are created by small businesses, but small business startups have a large risk attached that can lock them out of traditional funding sources.
The organization is focused on helping engineering, information technology, biotech and green energy businesses, but business consulting services are still available to people who want to expand those and other existing industries.
“We don’t necessarily just want to focus on new recruits,” Doss said.
Potential clients present a business concept, explaining their idea, competitors, strategy, pricing, budgets and financial forecasts.
Seed fund applications have come from the financial services, IT, applied manufacturing and engineering industries. Awardees will be announced in the next eight weeks.
It’s not free money.
“This isn’t a grant,” Doss said. “They will pay us back.”
There is a repayments schedule and other requirements. Those receiving the seed fund’s $50,000 to $200,000 awards are required to move to the River District.
“Once you are awarded the money, you don’t get to work in a vacuum,” Doss said.
It is hoped that their investment will generate additional interest in funding for the selected seed fund recipients.
“We hope our funds will be leveraged,” with other funds and co-investors, she said.Doss acknowledges lending to startups is a risky business.
“At the end of the day, you can’t control the external environment,” she said.She added, “Yes, there will be failures.”
On the flip side, though, The Launch Place is betting that those who emerge successfully will go on to create more businesses.
“Entrepreneurs don’t stop at the first deal,” she said.
While The Launch Place wants to be a financial development ecosystem for entrepreneurs, it says it has a niche.
“We are not economic development,” she said. “It takes a village.”
Corrie Teague, project manager for Danville’s Office of Economic Development, says The Launch Place has been a useful partner.
“We’re seeing a growing number of entrepreneurs looking to locate to the area,” she said.
She added, “For our region, they do complement our efforts very well.”
Each organization has a hand in promoting the River District, and everyone is working hard to make it a true neighborhood.
“Having somewhere you can live and walk to work becomes very attractive to professionals and entrepreneurs alike,” Teague said.
The Launch Place can also provide a second infusion of cash at the growth stage for businesses. With that and the River District commitment, Doss is hoping the new companies will want to bloom where they’re planted long after their commitment is complete.
“They have a tendency to stay where the money is,” Doss said.
By: Mary Beth JacksonGoDanRiver.com
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U. S. Senator Mark Warner comes to region to celebrate The Launch Place’s expansion of services
Monday, 24 June 2013 12:00:00 EST
“This region doesn’t know the meaning of giving up. Southside once again will be an economic engine” for the Commonwealth, said Senator Mark Warner.
DANVILLE, Va. (Saturday, June 22, 2013) – U. S. Senator Mark Warner, D-Va., came to Southern Virginia on Friday to participate in the celebration of The Launch Place’s new seed fund division and expanded business consulting services.
Introduced by the president of Danville-Pittsylvania County Chamber of Commerce as “a friend to Southern Virginia,” Senator Warner spoke to nearly 150 people from across the region, several of which were state and local elected and appointed officials, including the mayors of South Boston, Danville and Martinsville.
“I do appreciate the regional dimensions of this. In my mind, anytime we have the mayors of South Boston, Danville and Martinsville all working together, one more time, that is good news for Southside Virginia,” said Warner.
Formerly the Southside Business Technology Center, The Launch Place assists with startups, job creation and retention region-wide, while having a dual responsibility to recruit and retain entrepreneurs to the River District of Danville due to a $10 million grant award over five years by the Danville Region Foundation.
“Established in the 2004 by a group of concerned business leaders primarily from Martinsville, The Launch Place led the way to create a unique capacity for entrepreneurs to be successful in the region. Our capacity has now been enhanced and we are confident results will soon follow,” said Moran, who is The Launch Place’s board of directors’ chair.
Warner said The Launch Place’s story is inspiring and another example of how the region continues to reinvent itself by creating infrastructures that lead to 21st century jobs, such as regional broadband access, New College Institute in Martinsville, Institute for Advanced Learning & Research in Danville and the Southern Virginia Higher Education Center in South Boston.
“This region doesn’t know the meaning of giving up. Southside once again will be an economic engine” for the Commonwealth, he said.
As an 501 (C) 3 nonprofit organization, The Launch Place strives to energize and diversify Southern Virginia’s regional economy through entrepreneurship development and business consulting services.
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Senator helps The Launch Place celebrate move
Monday, 24 June 2013 12:00:00 EST
The Launch Place — formerly called the Southside Business Technology Center — celebrated its move from Ringgold to the River District on Friday.
The Launch Place aims to be one-stop shopping for entrepreneurship development with consulting, mentorship, funding and real estate. In October, it received a $10 million grant from the Danville Regional Foundation to expand its services over five years. A $4 million seed fund has been established with that grant to help startups generate investments.
The organization commemorated its relocation with an open house featuring U.S. Sen. Mark Warner, D-Va., who commended the group’s efforts in helping entrepreneurs and small businesses in Southside Virginia.
“If you look at the United States of America over the last 25 years, 80 percent of all the new jobs that have been created have been created by start-ups,” Warner said. “And the notion that here in Southside, here at The Launch Place, you’re going to have that kind of collaborative ability to re-inforce those entrepreneurs is really, really remarkable. The idea that you have a launch place that has the kind of technical support and financial support, and the ability to kind of co-locate and work through these things together is the secret sauce of creating new jobs.”
On top of talking about creating new jobs and building businesses in Danville, a major part of Warner’s focus hinged on foreign involvement in the U.S. economy — a component that he says will have an impact across America.
“I think it’s wonderful that The Launch Place has a notion of how we keep and retain, because one of the promises of the information age is that you can build it anywhere. If we can build it in Mumbai and Shanghai, we need to make sure we can build it in Danville, in Martinsville and South Boston as well.”
Warner also explained he’s currently working with legislators in Washington to pass laws enabling foreign entrepreneurs to continue building businesses in the United States, including places like the Dan River Region, which he says would benefit from the increased pool of talent and employment opportunities.
“I’ve been told there are 10 different languages spoken here at The Launch Place,” he said. “[In Washington] we are right now debating an immigration bill. And all the debate right now is about border security, are we gonna double or triple our border security, are people going to have the ability to earn citizenship … but the other part of the immigration bill that’s terribly important for The Launch Place, for Southside, for America to get right is to make sure that we also recruit and keep some of the high-skilled talent in the world.”
By: Brittany Hughes
GoDanRiver.com
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VT KnowledgeWorks $25,000 Game Changers Challenge
Monday, 07 October 2013 12:00:00 EST
VT KnowledgeWorks is pleased to announce the Game Changers Challenge, a new opportunity for entrepreneurs. One entrepreneur or entrepreneurial team may qualify for a $25,000 “Running Start” loan plus a package of free startup assistance services. Solid runners-up may also qualify for free startup assistance.
Any aspiring entrepreneur or entrepreneurial team may enter. The challenge is open to all who meet the following criteria:
The product or service to be provided by the venture must either be consumed (not simply re-marketed) by another business, or be integrated into a more complex end-product for downstream sale.
The targeted buyers must constitute a relatively narrow demographic niche that can be addressed with limited resources.
The proposed product or service must powerfully address some widely acknowledged niche need.
High leverage must be obtained by the $25,000 (not just the first $25,000 out of a $1M needed for launch, for instance).
The entrepreneurial team must be able to fill the technology leadership roles in the proposed venture.
The team must be committed to locating business operations in the Virginia Tech Corporate Research Center.
Any intellectual property related to the enterprise must be appropriately owned or licensed by the enterprise.
Finalists will be selected by VT KnowledgeWorks staff, and will then be invited to make a 15-minute presentation to the Running Start Committee on their proposed new ventures. There will be no public events, nor will competing teams be allowed to attend each other’s presentations. In the absence of a solid applicant, no loan will be made. This is a qualifying process, not a contest.
Proposals must be submitted in accordance with the guidelines available on the VT KnowledgeWorks website www.vtknowledgeworks.com. The deadline for 2013 application submissions is November 1, 2013. Applications should be submitted to christine.spalding@vtknowledgeworks.com. The selection committee will review applications and VT KnowledgeWorks will communicate with applicants shortly thereafter. Awards will be announced in late November/early December.
For more information contact Jim Flowers, Executive Director of VT KnowledgeWorks, at 540-443-9100, extension 1 or at jim.flowers@vtknowledgeworks.com. Read about it on our blog at http://www.insidevtknowledgeworks.com/2013/09/vt-knowledgeworks-announces-game-changers-challenge-for-entrepreneurs.html.
VT KnowledgeWorks encourages and enables creative entrepreneurship world-wide, through innovative curriculum, local business resource centers, and a global network of cooperating regions, all focused on three essential contributors to success: clear understanding of fundamental business principles; access to timely, relevant information; and meaningful personal and corporate relationships. It is a subsidiary of the Virginia Tech Corporate Research Center, supported by the continuing confidence and enthusiasm of its clients, sponsors and friends, both corporate and individual. Its world headquarters is in Blacksburg, Virginia, USA.
VT KnowledgeWorks corporate sponsors include Attaain, Inc., BB&T, The Branch Group, Harris Office Furniture, Hodges, Jones & Mabry, P.C., Hutchison Law Group, Latimer IP Law, LLC, LeClairRyan, New River Valley Intellectual Property Law, Science Applications International Corporation (SAIC), and Wordsprint.
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The Launch Place commits $250,000 to KSI Data Sciences, LLC
Tuesday, 14 January 2014 12:00:00 EST
The Launch Place, the Dan River Region’s leading entity to recruit emerging and serial entrepreneurs, has made its first seed fund investment to KSI Data Sciences, LLC. KSI will receive $150,000 immediately and $100,000 upon the successful testing of a new product prototype focused on commercial video and data management solutions for remote sensing platforms or unmanned aircrafts, vehicles and other related mobile devices and equipment.
KSI Founder and Chief Architect, Jason Barton and his development team from northern Virginia will be moving to Danville as part of The Launch Place’s investment requirements. They will be located at The Launch Place’s offices in the River District where they will be part of The Launch Place’s wrap-around entrepreneurship services of mentoring, training and coaching and business consulting services.
“The Launch Place provides us an extraordinary opportunity to develop our new technology in this explosive growth industry,” said Barton. “In addition to the investment, The Launch Place will assist us in our business development efforts through their mentoring, and consulting services.” “We are thrilled to have become part of The Launch Place network and look forward to the significant impact this partnership will have on the success of our company,” said Wes McGee, KSI chief executive officer.
The Launch Place assists with business development, and job creation and retention region-wide through its business consulting services, while having a dual responsibility to recruit and retain entrepreneurs to the Danville region due to a $10 million grant award over five years by the Danville Region Foundation. A $4 million seed fund was established with this grant to invest in start-ups and serial entrepreneurs.
“We are very impressed with the KSI team,” said Eva Doss, President & CEO of The Launch Place. “They have built an impressive enterprise software solution that is available to large organizations, such as the U.S. military and government agencies, as well as to local police, fire and utility maintenance departments.”
Upon the arrival of Barton and KSI development team in a few weeks, a public announcement event will be held at The Launch Place.
As a 501 (C) 3 nonprofit organization, The Launch Place strives to energize and diversify Southern Virginia’s regional economy through entrepreneurship development and business consulting services.
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KSI Data Sciences' new product is intended to save lives and to be an “internet of things”
Thursday, 23 January 2014 12:00:00 EST
KSI Data Sciences Founder and Chief Architect Jason Barton said today KSI’s new product prototype to be developed and tested in Danville is primarily intended to give police, fire and first responders the tools necessary to share information quickly in order to save lives.
Barton referenced the term “internet of things,” to describe his new product where sensors are embedded in objects and are linked through networks, often using the same internet protocol that connects the internet.
“These networks generate volumes of data for analysis. When objects can both sense the environment and communicate, they become useful tools for understanding complex information quickly,” he said.
Speaking at The Launch Place to around 30 community officials, Barton said these applications can be used during forest fires, earthquakes and tsunamis and during tragic events as in the case with the Boston Marathon bombing where there was a manhunt to find the bombers.
Barton added he wants to take the “hard lessons learned” from previous products he has developed for the U.S. military and bring it down to scale for commercial and everyday use. The applications are endless, he said.
For example, Barton referenced precision agriculture where remote sensor applications with an unmanned aircraft can fly over a farm field to detect fungus, reducing crop damage.
Barton and his development team are relocating to Danville to test and take to market this product. The Launch Place’s first seed fund investment of $250,000 was made to KSI.
KSI will receive $150,000 immediately and $100,000 upon the successful testing of this new product.
KSI CEO Wes McGee said, “We want to be not only The Launch Place’s first investment, but its most successful.”
The Launch Place assists with business development, and job creation and retention region-wide through its business consulting services, while having a dual responsibility to recruit and retain entrepreneurs to the Danville region due to a $10 million grant award over five years by the Danville Region Foundation. A $4 million seed fund was established with this grant to invest in start-ups and serial entrepreneurs.
As a 501 (C) 3 nonprofit organization, The Launch Place strives to energize and diversify Southern Virginia’s regional economy through entrepreneurship development and business consulting services.
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WDBJ 7 Report: Danville company gives new ways of monitoring remote areas.
Monday, 27 January 2014 12:00:00 EST
WDBJ 7 Report: Danville company gives new ways of monitoring remote areas. KSI Data Sciences, LLC, is a start up company that is getting help from The Launch Place in Danville, Virginia.
To learn more please click here.
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Useful Stats: U.S. Venture Capital Investment Dollars and Deals by State, 2008-13
Friday, 14 February 2014 12:00:00 EST
Powered by strong growth in the Internet and Software sectors, U.S. venture capital activity grew by about 7.5 percent in 2013, according to new data from the National Venture Capital Association (NVCA) and PricewaterhouseCoopers (PWC) Moneytree survey. Both venture dollars and deals ticked up last year, bouncing back to 2011 levels after a slow 2012. For the nation and most states, investment seems to have returned to its pre-crisis level.
Last year, almost $29.4 billion was invested in 3,995 deals, according to the NVCA/PWC data. These levels indicate a modest increase over a weak 2012, but about equal to 2011 activity.
Over the past five years the venture capital industry has been in a rebuilding mode. When the global economy collapsed in 2007-08, venture capitalists became cautious, leading to a severe drop in activity beginning in Q4 2008. Venture dollars shrunk by a third in 2009, making equity capital scarce for businesses at all stages of development. Investment rebounded, however, by about $2.9 billion in 2010 and about $6.1 billion in 2011. It now appears that activity has leveled off, with a small tick down in 2012 and a small tick up in 2013. Since 2011, total dollars have been near pre-crisis 2007-08 levels, though deals remain somewhat below pre-crisis levels.
Download the NVCA/PWC release…
SSTI has prepared tables of U.S. venture capital investment levels by state in terms of deals and dollars for the 2008-13 period.
California continues to lead as the country’s top target of both investment deals and dollars. Massachusetts continues to rank second in total dollars, but, for the first time, New York overtook Massachusetts in number of deals. In 2013, New York increased its deal flow by 15.8 percent over the previous year and by more than 50 percent over 2008.
Florida and Virginia both rejoined the top ten after having a slow 2012. In Florida, venture dollars dropped by 42 percent in 2012, but more than doubled last year, making it the 10th most active venture capital economy. Virginia investment dropped by 55 percent in 2012, but rebounded by 117 percent in 2013. Virginia’s recovery, however, appears to be dependent on a small number of high-dollar deals, since its dealflow decreased as total dollars grew.
SSTI will take a closer look at the NVCA/PWC data in the coming weeks, including state share of total U.S. venture capital, per capita investment, investment by industry and investment by stage.
stage.
Download the tables in Excel (xlsx) format...
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The Launch Place commits $250,000 to CirrusWorks to expand its technology
Monday, 24 February 2014 12:00:00 EST
DANVILLE, Va. (Monday, Feb. 24, 2014) – The Launch Place,the Dan River Region's leading entity to recruit emerging and serial entrepreneurs, announced today it will invest $250,000 in CirrusWorks Venture, LLC, specifically $75,000 now and $175,000 upon securing additional capital from private investors.
As part of the investment requirements, CirrusWorks will expand its operations to Danville’s River District to increase the production and delivery of its signature technology to eliminate network congestion, employing 21 high skilled individuals by the end of 2016. The company, in addition to receiving a $250,000 investment from The Launch Place, will also use the organization’s entrepreneur wrap-around services of mentoring, training and coaching and business consulting services.
New hires will be assemblers, inventory managers, information technology (IT) administrators and programmers and hardware designers with an annual salary range between $35,000 and $85,000.
“All networks have congestion, but CirrusWorks’ patented technology detects and corrects congestion as it occurs up to 50,000 times per second,” said CirrusWorks CEO David Giannini. “Our software monitors the effective size of the Internet pipe, re-prioritizes user data flows, and manages oversubscription during peak loads…the bottom line is our technology offers faster and more efficient Internet networking that is easy to install and very affordable.” Richard Sternitzke, Chief Technology Officer/Chief Operating Officer of CirrusWorks, stated, “Our partnership with The Launch Place will help bring innovative products to a global market. We look forward to building a team and facility in Danville, leveraging The Launch Place’s affiliations with higher education to recruit talented people into our organization, fueling the growth of our business and the region.”
The Launch Place assists with business development, and job creation and retention region-wide through its business consulting services, while having a dual responsibility to recruit and retain entrepreneurs to the Danville region due to a $10 million grant award over five years by the Danville Region Foundation. A $4 million seed fund was established with this grant to invest in start-ups and serial entrepreneurs.
“CirrusWorks is going to have a significant impact on the region with its projected new hires and helping us to create a strong IT industry cluster,” said Eva Doss, President & CEO of The Launch Place. “They have the potential for exponential growth.”
CirrusWorks management team will be arriving in Danville in the next few weeks. Upon arrival, a public announcement event will be held at The Launch Place, giving the region an opportunity to meet CirrusWorks officials and to hear first-hand their expansion plans in Danville.
This is The Launch Place’s second announcement. Last month, it announced investing $250,000 and recruiting to Danville’s River District KSI Data Sciences, LLC, to develop and bring to market a new technology designed to give police, fire and first responders the tools necessary to share information quickly in order to save lives.
As a 501 (C) 3 nonprofit organization, The Launch Place strives to energize and diversify Southern Virginia’s regional economy through entrepreneurship development and business consulting services. For more information, go to www.thelaunchplace.org.
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The Launch Place and First Flight Venture Center partner to host The Big Launch Challenge
Monday, 10 March 2014 12:00:00 EST
The Launch Place, a leading recruiter of entrepreneurs in the Dan River Region of Virginia, and First Flight Venture Center (FFVC), RTP's largest technology incubator, announced today a unique partnership to attract the most innovative technology start-up companies in Virginia and North Carolina to a competition that planners of the event are referring to as “high stakes.”
The Big Launch Challenge is open to early-stage Virginia and North Carolina based companies in nano, green and information technologies; alternative energy; advanced manufacturing and materials; and medical device industries.
The Big Launch Competition final event will feature the top five entrepreneurs from the online competition featured on http://thebiglaunch2014.iStart.org, the go-to site for business competitions. Presenters will pitch at the Institute for Advanced Learning & Research in Danville, Va., on May 22, 2014.
Contenders will present their business ideas to a panel of judges, who are members of The Launch Place’s seed fund advisory board and experienced in technology assessment, commercialization and early-stage investment.
The top two presenters will be awarded up to $15,000 each.
“The Big Launch Challenge is slated to become one of the foremost events for startups in the region,” said Eva Doss, President and CEO of The Launch Place. “Not only will the competition provide entrepreneurs with prize money, it also will serve as a platform for them to learn about The Launch Place’s unique entrepreneurship services and on-going investment opportunities in Danville, Virginia.”
The Launch Place supports the creation of an “idea based entrepreneurship network” in the Danville, Va., region by providing a wide array of services and incentives to emerging and serial entrepreneurs with business ideas primarily related to engineering, IT and bio- materials.
“We are excited to be working with The Launch Place on the The Big Launch Challenge,” said Andy Schwab, President of First Flight Venture Center. “This is the first event in this region to bring together entrepreneurs and start-ups from two states, all in an effort to help find good ideas and build sustainable businesses.”
To register for the event and for more information, please visit: http://thebiglaunch2014.iStart.org.
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The Launch Place Invests $250,000 in SEAL Innovation to Commercialize Its Wearable State-of-the-Art Swim Safety Monitor - SEAL SwimSafe™
Thursday, 17 April 2014 12:00:00 EST
The Launch Place announced today a $250,000 investment in Raleigh, NC-based SEAL Innovation, Inc., to commercialize SEAL SwimSafe™. Utilizing wearable swim bands and state-of-the-art detection technology, SEAL SwimSafe™ will help improve swim safety and reduce drowning and injury by alerting guardians of swimmer distress.
For this investment, SEAL has agreed to establish operations in Danville’s River District, which will bring leadership, technology and product development jobs to the area by 2015.
“We are excited to partner with The Launch Place and to invest in the Danville community. In addition to The Launch Place’s $250,000 lead investment, its consulting services and partnerships in the Danville region will bring the talent we need to expand our capabilities and get our cutting-edge swim safety system to more people who need it,” said Justin Calvillo, SEAL Innovation’s Corporate Finance and Development Officer.
“We view SwimSafe as more than a product to sell,” Calvillo added. “We believe that The Launch Place’s support is integral to our mission of improving swim safety and enjoyment.”
SEAL Innovation will donate one percent of its profits annually to nonprofits that help further learn to swim programs, parental and lifeguard education and training, and best safety practices in aquatic facility design and management.
“We are proud to be SEAL’s newest partner to end global drowning,” said Eva Doss, President & CEO of The Launch Place. “We predict SEAL is on the verge to deliver breakthrough technology in the aquatics industry.”
SEAL Innovation leadership will visit Danville on Tuesday, April 29, at 1 p.m. to hold a reception open to the public and media at The Launch Place to give the Danville community an opportunity to meet SEAL leaders as well as learn more about the company’s mission and its swim safety products.
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Raleigh, North Carolina-based, SEAL Innovation, Inc., expanding operations to Danville
Wednesday, 30 April 2014 12:00:00 EST
A Raleigh, N.C., small business commercializing a new product to encourage safe swimming and help prevent drowning announced plans to expand its operations to Danville.
SEAL Innovation, Inc., CEO, Dr. Graham Snyder, said on Tuesday at The Launch Place’s news conference that the company’s mission is simple: “to improve swimming safety thereby reducing drowning.”
As an emergency room physician, Dr. Snyder said, he has seen firsthand drowning victims and the parents saying, “I only looked away for a second.”
“That’s heartbreaking to hear,” he said, “because it actually takes more than a few seconds to drown. Frequently, by the time parents, lifeguards and others know there’s a problem, it can be too late.”
Dr. Snyder and his colleague, Dr. Courtney Mann, invented a product called SEAL SwimSafe™ to alert parents and lifeguards when to look for swimmers when they have been underwater for a specific length of time. With wearable swim bands and state-of-the-art technology, a siren and strobe light will go off, “initiating a rescue instantaneously,” Dr. Snyder said.
According to Dr. Snyder, there are 314,000 commercial pools, 10 million boat owners and 8 million backyard pool owners in the United States. “They all have the same mission. They want people in the water, having fun, getting exercise and learning a life skill. But they also want it done in a safe way,” he said. “This is what we are commercializing: a layer of technology to help prevent drowning.”
SEAL Innovation Corporate Finance and Development Officer Justin Calvillo said Danville was chosen for expansion, because of The Launch Place’s capacity to build and advise business and support entrepreneurship.
The Launch Place announced on April 17 that it is investing $250,000 in SEAL Innovation. Dr. Snyder, Calvillo and other SEAL Innovation officials came to Danville on Tuesday to introduce themselves to the community and to share publicly more details about their trademarked product.
The Launch Place assists with business development, and job creation and retention region-wide through its business consulting services, while having a dual responsibility to recruit and retain entrepreneurs to the Danville region due to a $10 million grant award over five years by the Danville Region Foundation. A $4 million seed fund was established with this grant to invest in start-ups and serial entrepreneurs.
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