December 22, 2011 by
kateIt’s been a good year for ATDC. From the staff additions of our new Entrepreneurs in Residence (EIRs) and Community Catalysts to the creation of Flashpoint, there have been some great developments throughout 2011. And the New Year is likely to bring even more growth.
As you might have heard, we will be launching a new membership level starting Jan. 3. “ATDC Select” will include startups that have been screened and selected based on readiness for acceleration and fit with our services and staffing. These companies have identified scalable business models and are ready to take advantage of our more focused, individual support, which includes custom access to EIRs, mentors, graduate companies and sponsors, as well as potential investors and strategic partners. At the same time, we will continue to welcome and support all technology entrepreneurs in Georgia through quality “coaching, connecting and community” programs designed to help them build and launch successful companies.
From Startup Circles in a range of geographic locations to Lunch-N-Learn workshops and a monthly Cowork@ATDC collaborative working session, there will be plenty of opportunities to network with other entrepreneurs and learn from seasoned veterans next year. Want to meet with ATDC staff to discuss your startup? Team members will have office hours available by appointment starting the first week of January. New and prospective members are invited to attend an information session on Jan. 10 to learn more about membership benefits and qualifications.
Of course, we are most proud of the achievements of our member companies and graduates. We salute the hard work of all ATDC entrepreneurs and look forward to providing members with strategic entrepreneurial advice and key business connections in the New Year. ATDC offices will be closed from Dec. 26 through Jan. 2. Happy holidays and see you in 2012!
It’s the most wonderful time of the year! To celebrate the holiday season and coming New Year, ATDC, StartupChicks, StartupDrinks and Startup Riot cordially invite you to a festive party bound to fill you with good cheer.
Held on Dec. 14 at the Georgia Tech Hotel & Conference Center, the free event is expected to draw hundreds of area entrepreneurs – providing plenty of networking opportunities for young startups.
“Startup success is largely dictated by one thing: luck,” said event co-host Sanjay Parekh, founder of Startup Riot, a day-long conference and career fair event held in multiple cities. “There are a lot of things that can nudge luck in the right direction to negate any bad luck. Working hard and being smart are clearly two of the ways, but getting help is another great way of influencing your luck. By getting out to these types of events, you end up meeting different people that will give you advice and make introductions that will help you succeed.”
Although ATDC hosts a holiday party for members every year, this is the first time they have partnered with other organizations to organize an event for the larger startup community. There will be a cash bar, holiday music and hors d’oeuvres.
Don’t miss out on the chance to eat, drink and be merry while mingling with other startups. Register now for the entrepreneurial party of the season.
Need some startup advice? Book
office hours online with our two newest ATDC team members, both experienced in the world of technology startups. Jennifer Bonnett and Steve Rushing now serve as coaches for member companies, providing insight on business model searches, fundraising, team development and more. Jennifer is serving as a Community Catalyst, taking the lead on ATDC’s educational and mentor programs, while Steve is an Executive in Residence focused on healthcare information technology. In addition to coaching, they both have strong connections to prospective business advisors, investors and customers, furthering ATDC’s mission of coaching, connecting and community.
Here’s a little more background reading on the newest additions to the ATDC team.
- Jennifer Bonnett is a technology entrepreneur with more than 20 years of experience in information technology/software development, specializing in web and mobile technologies. She is currently “Chief Chick” of StartupChicks, a networking and educational organization for entrepreneurial women involved in media, technology, bio tech and green startups. She also serves as CEO of Nexpense, a mobile technology company focused on eliminating expense reporting for small to mid-sized businesses through the use of mobile devices, business rules and automation. Previously, Jennifer was VP of Technology for Seacoast Synergy, a technology business incubator, and co-founder/Chief Technology Officer of eTour.com, an internet advertising engine once labeled the “Most Addictive” site on the web by Industry Standard and the “coolest tool site” of the year by coolsiteoftheday.com. In her new role as Community Catalyst with ATDC, she will coach member companies, while also promoting ATDC and its companies to industry stakeholders. In addition, Jennifer will work with ATDC mentors to help program various educational events, both in Atlanta and Savannah.
- Steve Rushing brings three decades of experience in health care management and information systems, with clients ranging from community hospitals and multi-specialty clinics to home health care agencies and health maintenance organizations. He currently serves as director of health@ei2, a program responsible for health information technology research and deployment initiatives. Recent projects have included assistance to the Georgia Department of Community Health in conducting an environmental scan of the state’s health information technology (HIT) landscape and HIT assistance in developing a strategic and operational plan for Georgia’s statewide health information exchange. He also serves as an executive-in-residence at the Health Systems Institute, a joint venture between Georgia Tech and Emory University’s School of Medicine. In addition, he currently oversees the Jobs Accelerator project’s implementation at EI2 and multiple state and federal partnerships. This integrated project, funded by the EDA, ETA and SBA, addresses job acceleration through effective HIT commercialization and educational programs aimed at both the supply and health care provider sides of the HIT cluster in Georgia.Previously, he worked for Anderson Consulting (Accenture) for 25 years in its health care practice, as well as for The North Highland Company, BearingPoint’s Clinical Transformation practice and Superior Consultants’ e-health division. Through his position with ATDC, Rushing will council health information technology and related industry members on navigating the rapidly changing and complex health I.T. landscape, and share leadership and management experiences.
September 15, 2011 by
kateIt’s been a good year for PlayON! Sports. The Atlanta-based company has exploded in size and geographic footprint, with staff now producing and distributing coverage of more than 10,000 high school athletic events annually, including 2,000 high school championships. And thanks to the recent completion of a $7.2 million Series C investment round — led by Buckhead Investment Partners, Imlay Investments and Hamilton Ventures — the firm will continue to position itself as a leader in high school sports coverage.
Not bad for a company that’s only been in existence since 2005. PlayON! Sports was founded when David Rudolph – then an executive at Turner Broadcasting System – saw an opportunity to start airing sporting events that were lacking television exposure. The concept was developed inside Turner until 2008, when Rudolph teamed up with several Atlanta investment groups to purchase the company.
Although PlayON! started with an emphasis on college sports, company leaders eventually turned their attention to the untapped high school market. The firm is now the nation’s largest rights holder, producer, distributor and aggregator of high school content distributed across television, Internet and streaming enabled devices.
“We had noticed that the viewing audience for high school football games was really impressive, so it was an area that we wanted to explore,” said Rudolph, who serves as President and CEO. “But the real turning point for us was when we were hired by the Georgia High School Association (GHSA) to produce the state wrestling championship. We had over 100,000 viewers, which absolutely blew us away. It was far higher than we expected.”
A recent graduate of ATDC, PlayON! Sports has grown 150 to 200 percent each year and now encompasses more than 21 states and 30 full-time employees. By combining postseason content from various state athletic associations with the regular season events of member schools, PlayON! provides marketers with a unique multi-media platform solution to reach teens and families, said Rudolph.
So what’s next for the company? For starters, nationwide coverage would be nice. They’re also poised to enter the mobile technology market.
“We have a goal and a vision,” said Rudolph. “We want every high school game in the country to be broadcast and distributed in some shape or fashion. In addition, we want to distribute our content on as many platforms as possible, and mobile is the next opportunity for that.”
September 9, 2011 by
kateTo help educate young startups on fundraising strategies, the Atlanta Technology Angels and the Advanced Technology Development Center have joined forces to launch a new ATA/ATDC Entrepreneur Finance Series. Developed by Michel Horten, director of “ATA University” (ATA’s education arm), the comprehensive course encompasses four sessions and will be hosted by ATDC as part of its new Lunch and Learn Educational Series, which takes a more strategic approach to brown bags by focusing on coaching.
As a member of the Atlanta Technology Angels, Horten knows a thing or two about the proper way to court an investor. Over the years, he has been on the receiving end of numerous fundraising pitches from young startups. In many of those cases, a lack of entrepreneurial experience and knowledge of the current early-stage capital market sank even the most attractive investment opportunities.
“Companies generally require one or several rounds of financings in order to succeed. Unfortunately, a lot of entrepreneurs fail in this endeavor, not because their company is not fundable, but because they’re approaching it in the wrong way,” said Horten, a local attorney. “For example, if I’m interested in an opportunity, the first thing I want to know is what I’ll get for my money. Half of the entrepreneurs can’t answer that question.”
Each of the four sessions is designed to be highly interactive, with tips on all of the finance, legal and tax issues that an entrepreneur will need to know to launch a successful capital raise. Topics include the angel financing process, pre-financing requirements, today’s deal terms and securities law compliance.
“The whole purpose of this program is to give young entrepreneurs the A to Z summary of how they should go about raising money,” said Horten. “You don’t really have a second opportunity to pitch the same angel, so this course could help improve a startup’s chances of walking away from a meeting with a check in hand.”
Registration is now open for the free series, which begins Sept. 22. Each session will be held from 11:45 a.m. to 1 p.m. in the Hodges Room on the third floor of ATDC’s headquarters. Based on member interest and turnout, the program could be repeated in the future.
Participants who complete the first two sessions will also receive an invitation to attend a Nov. 10 seminar the Angel Capital Education Foundation is presenting to ATA members and other local angels. The half-day presentation will provide a detailed look at the various methodologies used to value early-stage companies and will give attending entrepreneurs the opportunity to network with local angel investors.
Mitchell Kopelman has a little advice for most young entrepreneurs and startups. Take advantage of the state’s Angel Investor Tax Credit, and do it as quickly as possible.
“The biggest issue we’ve seen at ATDC is someone might wait to apply until after they have an interested investor,” said Kopelman, a partner with Habif, Arogeti & Wynne, LLP, the largest independent CPA firm in Georgia. “We say, send in the application now. This way, when an investor is interested, your company will already be approved by the state. It’s free and it’s good for one year.”
Signed into law by former Gov. Sonny Perdue in June of 2010, the legislation took effect at the beginning of 2011 and helps to promote the development of startup companies in the state by encouraging direct investment from individuals in high?tech businesses.
The credit provides up to $50,000 annually – or 35 percent of the amount invested in the startup – for individual investors of early-stage, startup companies in Georgia. It’s available for investments made in 2011, 2012 and 2013, however, the credit cannot be used until two years after the investment is made. Other qualifications require that the investments come in the form of cash in exchange for stock by accredited investors that manage $5 million or less in capital. In addition, applicants must be Georgia-based companies, in business for less than three years with fewer than twenty employees. They can have no more than $500,000 in revenue and less than $1 million raised by debt or equity.
Access to early-stage growth in young companies is often difficult to obtain, so the Angel Investor Tax Credit could potentially help boost the Georgia economy by strengthening its entrepreneur-driven community and creating new, high-paying jobs. While there are some industry limitations, most technology companies are eligible so Kopelman encourages ATDC members to read up and apply for the program.
For a business to qualify as an eligible company under the angel tax credit, the startup must register first with the tax commissioner using Form IT-QBR. Although some startups experienced form approval delays in the initial months of the program, Kopelman said the process is moving more quickly now.
“The form itself is very easy,” said Kopelman, who chairs his firm’s Tax Group and Technology Practice. “The issue is that because it was new to the state, approvals were moving very slowly. In at least half a dozen cases, we’ve been able to help accelerate the approval process for these startups by contacting the state directly. The key is to send the form in now, and two months before it expires each year, assuming the company still qualifies.”
For more information on the Angel Investor Tax Credit program or links to the program requirements and Form IT-QBR, read this article co-authored by Kopelman.
A microsoft case study recommends Izenda Reports business intelligence solutions as a way to save over other reporting solutions by reducing development costs and the need for IT Support and in-house servers. Volvo, Bristol Meyers Squibb, Wellpoint, Verizon, and the United States Navy all use Izenda Reports to leverage data to make smarter business decisions.
Izenda is a 2010 ATDC graduating company recognized as a TAG Top 40 Most Innovative Technology Company in 2006 and 2007. While at the ATDC, Izenda developed and refined its flagship product and gained hundreds of customers and partners. Izenda is celebrating three years of impressive growth and hard-earned success by offering a 30 day free trial of Izenda Reports software and two complimentary reports to qualified companies. This deal is good for the month of June only. Call (404) 835-8640 or email sales@izenda.com for more details.
Forbes showcased the Georgia Tech Advanced Technology Development Center in a recent listing of Ten Technology Incubators Changing the World, noting that in the last 30 years the ATDC has launched more than a hundred new ventures and raised over $1 billion in outside financing for member companies. The article touted the economic benefits to communities that host technology incubators, benefits clearly visible to the employees of ATDC companies.
Since the Bayh-Dole Act gave universities ownership of intellectual property developed with federal funds, technology transfer offices and associated startup incubators have popped up all over the country. But there is something special about the ATDC. Close proximity to the Georgia Tech engineering and computer science colleges and strong relationships with other Georgia universities provide a dedicated stream of new technologies. This rich source of ideas as well as a local community dedicated to building an innovation center in Atlanta has made the ATDC the de facto hub of entrepreneurial activity in the State of Georgia. Gaining recognition from Forbes is a well-deserved reward for so many great people at the ATDC and in the community who have worked long and hard to foster a thriving startup ecosystem in Georgia.
ATDC gets a number of requests from startups to recruit and hire Georgia Tech students. This is the second in a series explaining how to go about doing so. This article covers recruiting out of the College of Computing.
The College of Computing has its own specific online resource to place students. You should browse the College of Computing job opportunities board and then complete the job opportunities submission form for your particular openings. To get the most visibility you should also use CareerBuzz as outlined last week.
College of Computing students are in great demand and will usually only consider positions that they consider to be cutting edge cool. Thus you should emphasize the most challenging aspects of the job. If you’re an ATDC company in Tech Square or walking distance to Tech and you need part time/interns, emphasize proximity to campus. Be as clear as possible about compensation and whether or not international students will be considered/sponsored for visas. Again, if there is the possibility for part-time/internship leading to full time employment after graduation, certainly let students know.
Georgia Tech College of Computing undergraduate students typically expect to be paid $50,000 a year for full-time positions and $15 – 20 an hour for part-time and internship positions.
Morgan Lindskog helps keep things running smoothly for companies recruiting College of Computing students. She can be reached at morgan@cc.gatech.edu or 404-894-5207.
ATDC gets a number of requests from startups to recruit and hire Georgia Tech students. This is the first in a series explaining how to go about doing so. This article covers engineering and general recruiting.
The Georgia Tech Career Center has greatly simplified the posting process to attract Georgia Tech students. Just go to CareerBuzz, register, and create a free posting for your company and position(s). Students will see the position when they search the site and if they have set up automatic email notification of certain types of positions. Students then submit resumes on-line for your review.
You need to be very clear about the job in the description, especially the location, salary and job requirements. If you’re seeking a part-time/intern student, emphasize proximity to Tech campus (a big plus for our incubator residents). If there is the possibility for part-time/internship leading to full time employment after graduation, certainly let students know. For all job types, indicate whether or not international students will be considered for visa sponsorship.
You can post any type of position on CareerBuzz including full-time, part-time, and internships. Georgia Tech students typically expect to be paid $50,000 a year for full-time positions and $15 – 20 an hour for part-time and internship positions.
Andrea Fekete is an associate director for Georgia Tech Career Services and oversees on-campus recruiting and employer outreach. If you have specific questions about recruiting Georgia Tech engineers or would like to discuss how you can increase your visibility in Career Services programs she may be reached at 404-894-3738 or andrea.fekete@sucess.gatech.edu.
