This week Deloitte released its 2009 Technology Fast 500. This list is an annual ranking of the fastest growing technology, media,telecommunications, life sciences and clean technology companies in NorthAmerica based on five-year fiscal revenue growth.
It was a great year for Austin based companies, three locally headquarted companies made their way onto the list. NetQoS® Inc. ranked number 300 for the 6th consecutive year. Zebra Imaging, Inc. is making its way to the top of the list by ranking number 99, and LibreDigital, Inc ranked number 334th.
ReachLocal, a globalprovider of localized internet advertising solutions, achieved the topspot on the list with 2008 fiscal year revenue of $146.69 million and afive-year fiscal growth rate of 146,050 percent.
Looking at the rankings from a geographical standpoint it was shown that there was an increase in companies located in the Northeast. In the past year, the number of Technology Fast500 (TM) companies headquartered in the Northeast increased 7 percent. Even with the majority still in the West there was a 5 percent decline.
This year clean technology was added as a new category with seven companies in this category achieving rankings, comprising just over 1 percent of the overall list. These companies include: -- SunPower Corporation (www.sunpower.com) -- GT Solar International, Inc. (www.gtsolar.com) -- Pentadyne Power Corporation (www.pentadyne.com) -- Energy Recovery, Inc. (www.energyrecovery.com) -- Evergreen Solar, Inc. (www.evergreensolar.com) -- Satcon Technology Corporation (www.satcon.com) -- FuelCell Energy (www.fuelcellenergy.com)
To see a the full list of rankings visit www.fast500.com
Wednesday, October 21, 2009
Friday, April 24, 2009
Intel predictions from Electronics Weekly
Intel has made ten predictions for technology in the next ten years.
"Predicting the future of information technology especially on a ten year time scale, can be a perilous business," said Intel technical marketing manager Steve Cutler.
"One of the defining characteristics of IT is a rate of change that is so fast it is unmatched in any other area of human endeavour - both today and historically. Yet it's fair to say that the next decade is set to drive even more far-reaching and potentially radical changes.
Cutler's predictions:
1. New classes of portable devices with ten times more battery life
2. Low-cost silicon photonics for faster, more reliable data transmission
3. New heights of realism in visual computing
4. Realistic computer generated images
5. Malware will become a thing of the past
6. Personal internet devices will be truly personal
7. Interactive computing devices make 'composable computing' a reality
8. Next-generation TV will not be about pixels
9. Seamlessly connected 3-D worlds
10. A spectrum revolution is looming
Prediction One - new classes of portable devices with ten times more battery life
• Sub-threshold integrated circuit technology requires only 300mV to operate.
• Intel showed 4-way SIMD (single instruction multiple data) vector processing accelerator in 45nm in CMOS operated below its gate threshold voltage at the ISSCC technology conference.
• "This will lead to new classes of portable devices designed to take advantage of greater battery life, which in turn will drive popularity and uptake."
Prediction two - low-cost silicon photonics for faster, more reliable data transmission
• Silicon photonics optics channels will be used inside and outside PCs.
• For example, remote optical memory can be used to create converged I/Os so a PC could have a single unified connector for a computer display, LAN, printer, wireless connection, scanner, USB and so on. Furthermore, because an optical channel does not require design engineering to ensure speed - its inherent in its nature - speed is implicit which has all sorts of positive implications such as true HD down loads, storage capability and terabit networking.
Prediction three - new heights of realism in visual computing
• There will be a shift from dedicated hardware graphics engines to general hardware running dedicated software as this has greater flexibility so features such as shadow map algorithms - an aspect of rendering that creates tiny ragged outline edges - can be replaced by 'soft shadows'.
• 'Order independent transparency' - the ability to create overlaid images which are clearly transparent, will be vastly improved.
• Overall, these benefits will deliver new heights of realism to computer generated imagery.
• Immediate applications areas are gaming sphere, but it will also have implications for business applications and the film industry.
Prediction four - realistic computer generated images
• Some types of complex graphic rendering requires the use of data sharing between the CPU and the graphic processing unit (GPU).
• However, the hardware-based model for graphics does not easily facilitate this at present.
• The sharing of virtualised memory between the CPU and the GPU will deliver the highest performance yet, for what are typically very complicated interactions.
• For example, complex data structures can be shared between the two with applications easily split between the CPU and GPU.
Prediction five - malware will become a thing of the past
• Malware, whatever form it takes whether viruses, trojans or worms, will be beaten by hardware-based techniques that protect at the deepest level.
• Today Intel has 'trusted execution technology' which is a set of processor hardware extensions and chipsets that have security characteristics such as measured launch and protected execution.
• It achieves this by creating an environment in which applications can run within their own space, protected from all other software on the system.
• To a degree, the success of hardware-based security is also dependent on how much effort vendors are prepared to put into securing their products. But once it is known that there is a solution that successfully addresses the problem of malware market forces will drive vendors in this direction.
Prediction six - personal internet devices will be truly personal
• Mobile internet devices (Mids) are already powerful enough to be useful and the introduction of sub-threshold devices (prediction one) mean these will run all day.
• Add this to a continuous Internet connection and users will, for example, be able translate words into other languages and hear then pronounced, or with GPS get a constant geographically-based pollen prediction for that day.
• Ten years from now Mids will be ubiquitous and application developers will flood the market with all sorts of ingenious ideas.
Prediction seven - interactive computing devices make 'composable computing' a reality
• 'Composable computing' is the impromptu assembly of a logical computer from wireless components that are nearby - enabled by wireless links, automatically assembling networks, and simple graphical user interfaces that allow available components selected and connected as the user desires.
• For example, images taken on a mobile device could be directed onto a nearby TV, or the music playing on an MP3 player could be sent to a HiFi in the room.
Prediction eight - next-generation TV will not be about pixels
• There is a limit to how big a TV screen can be without needing larger rooms, and a limit to the amount of resolution this size of screen needs.
• Beyond this, TVs will have to differentiate themselves by delivering further information.
• For example, click on a athlete in a running race to bring up biographical details in a window.
• Viewing will be from any location, delivered through various means such as 'over-the-air' and multi-cast IP, and available on a wide range of devices from notebook PCs to mobile internet devices and smart phones.
Prediction nine - seamlessly connected 3-D worlds
• 3D worlds, perhaps the World of Warcraft and Second Life, will overlap and be used for more practical activities.
• Companies already get feedback from virtual users about new products before they are brought to the real market, and virtual spaces can be created as meeting places where employees can exchange information regardless of geographical location.
• With the impending advances in computer graphics and growth in devices, how long will it be before a company like Amazon.com, for example, establishes a 3D presence with shopping aisles and book shelves that can be entered via virtual worlds such as Second Life?
Prediction ten - and finally a spectrum revolution is looming
• Already many devices contain two or three wireless connectivity options and as television becomes more interactive this need will become more pressing.
• As things stand today, the spectrum is fragmented and fairly chaotic, parts are saturated, and parts almost empty.
• It's unlikely that this will happen in a smooth manner, as many organisations will wish to maintain dominance of their spectrum segment.
• However, for example, as broadcast TV eventually concedes its position to interactive TV which is tailored to each user's preferences, spectrum will eventually be freed up.
• See also: Electronics Weekly's Focus on Intel, a roundup of content on the chip giant's technology. As well as presenting news coverage from Electronics Weekly, we draw on wider resources available on the Web.
"Predicting the future of information technology especially on a ten year time scale, can be a perilous business," said Intel technical marketing manager Steve Cutler.
"One of the defining characteristics of IT is a rate of change that is so fast it is unmatched in any other area of human endeavour - both today and historically. Yet it's fair to say that the next decade is set to drive even more far-reaching and potentially radical changes.
Cutler's predictions:
1. New classes of portable devices with ten times more battery life
2. Low-cost silicon photonics for faster, more reliable data transmission
3. New heights of realism in visual computing
4. Realistic computer generated images
5. Malware will become a thing of the past
6. Personal internet devices will be truly personal
7. Interactive computing devices make 'composable computing' a reality
8. Next-generation TV will not be about pixels
9. Seamlessly connected 3-D worlds
10. A spectrum revolution is looming
Prediction One - new classes of portable devices with ten times more battery life
• Sub-threshold integrated circuit technology requires only 300mV to operate.
• Intel showed 4-way SIMD (single instruction multiple data) vector processing accelerator in 45nm in CMOS operated below its gate threshold voltage at the ISSCC technology conference.
• "This will lead to new classes of portable devices designed to take advantage of greater battery life, which in turn will drive popularity and uptake."
Prediction two - low-cost silicon photonics for faster, more reliable data transmission
• Silicon photonics optics channels will be used inside and outside PCs.
• For example, remote optical memory can be used to create converged I/Os so a PC could have a single unified connector for a computer display, LAN, printer, wireless connection, scanner, USB and so on. Furthermore, because an optical channel does not require design engineering to ensure speed - its inherent in its nature - speed is implicit which has all sorts of positive implications such as true HD down loads, storage capability and terabit networking.
Prediction three - new heights of realism in visual computing
• There will be a shift from dedicated hardware graphics engines to general hardware running dedicated software as this has greater flexibility so features such as shadow map algorithms - an aspect of rendering that creates tiny ragged outline edges - can be replaced by 'soft shadows'.
• 'Order independent transparency' - the ability to create overlaid images which are clearly transparent, will be vastly improved.
• Overall, these benefits will deliver new heights of realism to computer generated imagery.
• Immediate applications areas are gaming sphere, but it will also have implications for business applications and the film industry.
Prediction four - realistic computer generated images
• Some types of complex graphic rendering requires the use of data sharing between the CPU and the graphic processing unit (GPU).
• However, the hardware-based model for graphics does not easily facilitate this at present.
• The sharing of virtualised memory between the CPU and the GPU will deliver the highest performance yet, for what are typically very complicated interactions.
• For example, complex data structures can be shared between the two with applications easily split between the CPU and GPU.
Prediction five - malware will become a thing of the past
• Malware, whatever form it takes whether viruses, trojans or worms, will be beaten by hardware-based techniques that protect at the deepest level.
• Today Intel has 'trusted execution technology' which is a set of processor hardware extensions and chipsets that have security characteristics such as measured launch and protected execution.
• It achieves this by creating an environment in which applications can run within their own space, protected from all other software on the system.
• To a degree, the success of hardware-based security is also dependent on how much effort vendors are prepared to put into securing their products. But once it is known that there is a solution that successfully addresses the problem of malware market forces will drive vendors in this direction.
Prediction six - personal internet devices will be truly personal
• Mobile internet devices (Mids) are already powerful enough to be useful and the introduction of sub-threshold devices (prediction one) mean these will run all day.
• Add this to a continuous Internet connection and users will, for example, be able translate words into other languages and hear then pronounced, or with GPS get a constant geographically-based pollen prediction for that day.
• Ten years from now Mids will be ubiquitous and application developers will flood the market with all sorts of ingenious ideas.
Prediction seven - interactive computing devices make 'composable computing' a reality
• 'Composable computing' is the impromptu assembly of a logical computer from wireless components that are nearby - enabled by wireless links, automatically assembling networks, and simple graphical user interfaces that allow available components selected and connected as the user desires.
• For example, images taken on a mobile device could be directed onto a nearby TV, or the music playing on an MP3 player could be sent to a HiFi in the room.
Prediction eight - next-generation TV will not be about pixels
• There is a limit to how big a TV screen can be without needing larger rooms, and a limit to the amount of resolution this size of screen needs.
• Beyond this, TVs will have to differentiate themselves by delivering further information.
• For example, click on a athlete in a running race to bring up biographical details in a window.
• Viewing will be from any location, delivered through various means such as 'over-the-air' and multi-cast IP, and available on a wide range of devices from notebook PCs to mobile internet devices and smart phones.
Prediction nine - seamlessly connected 3-D worlds
• 3D worlds, perhaps the World of Warcraft and Second Life, will overlap and be used for more practical activities.
• Companies already get feedback from virtual users about new products before they are brought to the real market, and virtual spaces can be created as meeting places where employees can exchange information regardless of geographical location.
• With the impending advances in computer graphics and growth in devices, how long will it be before a company like Amazon.com, for example, establishes a 3D presence with shopping aisles and book shelves that can be entered via virtual worlds such as Second Life?
Prediction ten - and finally a spectrum revolution is looming
• Already many devices contain two or three wireless connectivity options and as television becomes more interactive this need will become more pressing.
• As things stand today, the spectrum is fragmented and fairly chaotic, parts are saturated, and parts almost empty.
• It's unlikely that this will happen in a smooth manner, as many organisations will wish to maintain dominance of their spectrum segment.
• However, for example, as broadcast TV eventually concedes its position to interactive TV which is tailored to each user's preferences, spectrum will eventually be freed up.
• See also: Electronics Weekly's Focus on Intel, a roundup of content on the chip giant's technology. As well as presenting news coverage from Electronics Weekly, we draw on wider resources available on the Web.
Wednesday, March 18, 2009
Card Check: Employee Free Choice Act
This week, the so-called Employee Free Choice Act, or "Card Check" was introduced in the U.S. Congress.
This bill would effectively eliminate our right to vote by private ballot when deciding whether to join a union, and undermine our right to freely negotiate contracts. It would also kill jobs in America when we need them most. We cannot open the door to coercion, and allow freedom to be supplanted by fear in the workplace. Based upon Congress' actions today, it's clear we have an urgent fight on our hands.
To defeat this destructive bill, we began our Freedom Not Fear campaign last week, and introduced Saul Anuzis to lead this project as National Chairman. In just a few days, close to 70,000 Americans have signed the petition.
Please stand with us today and sign the Freedom Not Fear petition by clicking here. Once you sign, please recruit your friends and family, so together we can build a strong grassroots network of citizen leaders across the country.
-The Austin Technology Council.
This bill would effectively eliminate our right to vote by private ballot when deciding whether to join a union, and undermine our right to freely negotiate contracts. It would also kill jobs in America when we need them most. We cannot open the door to coercion, and allow freedom to be supplanted by fear in the workplace. Based upon Congress' actions today, it's clear we have an urgent fight on our hands.
To defeat this destructive bill, we began our Freedom Not Fear campaign last week, and introduced Saul Anuzis to lead this project as National Chairman. In just a few days, close to 70,000 Americans have signed the petition.
Please stand with us today and sign the Freedom Not Fear petition by clicking here. Once you sign, please recruit your friends and family, so together we can build a strong grassroots network of citizen leaders across the country.
-The Austin Technology Council.
Monday, December 15, 2008
Economy in 2009: What to expect?
The December 4th Best Practice program was sponsored by Bridgepoint which addressed the current economic crisis, offering information on how it is unfolding and the best strategies to cope and survive during these times. The festive room at Chez-Zee Bistro and Bakery, was filled with our members, interested local business professionals and entrepreneurs poised and ready to hear a presentation by Kit Webster, a Bridgepoint consultant that has over 30 years of senior management experience. Kit Webster has been the CEO and CFO of publicly and privately held companies. He has taught at the University of Texas at Austin and is currently teaching Business Process Excellence in the business school and he has successfully restructured numerous companies, led mergers, acquisitions and IPOs.
There were many questions and a lot of details providing insight and clarity to what has, is and will be going on in the coming months and years, but for those of you that were unable to attend, here is an overview of Dr. Webster’s presentation:
The world is in the midst of a severe debt deflation created by the mispricing of risk and the extreme leveraging of assets, particularly real estate and derivatives, in turn part of a financial mania. The impact of the resulting deleveraging and marking to market on the US economy, which is 70% reliant on consumer spending, will be profound and will take years to rationalize. The impact will reach into all aspects of the global financial system and its regulatory structure, having as great or greater impact on the rules of capitalism as the changes during the Great Depression. The Fed and the Treasury do not know what to do since there is no precedent, and are making it up as they go along. At the moment they are focusing on preventing systemic collapse; later they will focus on other issues, however their current actions will have significant unintended consequences including moral hazard and subsidizing those who should fail to compete against those who remain strong.
Managers should revise their expectations to focus on survival instead of growth, on preservation of cash and return of investment as opposed to return on investment. They should expect credit to be less available, to cost more, and to have significantly more onerous terms; they should expect equity to be very expensive, if it is available. They should nurture very close relationships with customers, investors, and bankers to ensure the maximum probability of survival. They should relentlessly cut costs and require a higher return on any investment of cash than they have in the past few decades. If possible, they should position themselves to take advantage of reduced prices on assets in the coming years.
The power point presentation is available for our members at www.austintechnologycouncil.org
There were many questions and a lot of details providing insight and clarity to what has, is and will be going on in the coming months and years, but for those of you that were unable to attend, here is an overview of Dr. Webster’s presentation:
The world is in the midst of a severe debt deflation created by the mispricing of risk and the extreme leveraging of assets, particularly real estate and derivatives, in turn part of a financial mania. The impact of the resulting deleveraging and marking to market on the US economy, which is 70% reliant on consumer spending, will be profound and will take years to rationalize. The impact will reach into all aspects of the global financial system and its regulatory structure, having as great or greater impact on the rules of capitalism as the changes during the Great Depression. The Fed and the Treasury do not know what to do since there is no precedent, and are making it up as they go along. At the moment they are focusing on preventing systemic collapse; later they will focus on other issues, however their current actions will have significant unintended consequences including moral hazard and subsidizing those who should fail to compete against those who remain strong.
Managers should revise their expectations to focus on survival instead of growth, on preservation of cash and return of investment as opposed to return on investment. They should expect credit to be less available, to cost more, and to have significantly more onerous terms; they should expect equity to be very expensive, if it is available. They should nurture very close relationships with customers, investors, and bankers to ensure the maximum probability of survival. They should relentlessly cut costs and require a higher return on any investment of cash than they have in the past few decades. If possible, they should position themselves to take advantage of reduced prices on assets in the coming years.
The power point presentation is available for our members at www.austintechnologycouncil.org
Thursday, November 6, 2008
Onward and upward
Whew! We made it past Austin’s unofficial “Tech Week”. InnoTech, Texas Wireless Summit and Maker Faire which were all smashing successes! After the networking fervor of the week had come to a close, I need to crash for most of the following weekend.
But, now that that’s behind us and we’re looking forward to wrapping up 2008 programming, setting the stage for 2009 and revamping our agenda. It’s a clean slate: new options, new ideas and new folks on our team. Nicole Gloor joined us last Wednesday and has rolled into our group with an uncanny enthusiasm to meet each and every member of the Austin Technology Council. Soozie and I dashed from our Happy Hour last night at 8:00 and Nicole was still rearing to go---love it! Wish I could bottle it, take it and share it, but alas…I found myself crashing by 8:15. Which, certainly seems to be a theme!
Just about every person I spoke to last night asked the same question: What is ATC seeing during these uncertain times? It’s true, we have access, insight and information on what local companies are doing, where they are cutting back and concerns they have. On a very basic level we’re seeing a jump in attendance at our events. This, I firmly believe is directly impacted by the safety in numbers theory. People are looking for insight on what others are doing, how they are reacting and if they’re missing any opportunities. We’re also seeing smaller companies continue to hire and seek customers. Business has and always will continue to tick. Mind you, I do not claim to be an economist, but the themes we are seeing with our membership are focused spending, effective use of networking, and clear communication. This all may change 3-6 months out, and throughout we will continue to provide networking, education and facilitate meetings.
Next week we’re hosting a program called Vision 2009 which is intended to provide feedback from our community on what else we can do to provide value. We’re looking forward to learning more about what we can do for our members beyond our current agenda. Our expectation is that it’ll be just the zing of fresh ideas we need during our planning for next year. Registration is open, hope you can join us.
But, now that that’s behind us and we’re looking forward to wrapping up 2008 programming, setting the stage for 2009 and revamping our agenda. It’s a clean slate: new options, new ideas and new folks on our team. Nicole Gloor joined us last Wednesday and has rolled into our group with an uncanny enthusiasm to meet each and every member of the Austin Technology Council. Soozie and I dashed from our Happy Hour last night at 8:00 and Nicole was still rearing to go---love it! Wish I could bottle it, take it and share it, but alas…I found myself crashing by 8:15. Which, certainly seems to be a theme!
Just about every person I spoke to last night asked the same question: What is ATC seeing during these uncertain times? It’s true, we have access, insight and information on what local companies are doing, where they are cutting back and concerns they have. On a very basic level we’re seeing a jump in attendance at our events. This, I firmly believe is directly impacted by the safety in numbers theory. People are looking for insight on what others are doing, how they are reacting and if they’re missing any opportunities. We’re also seeing smaller companies continue to hire and seek customers. Business has and always will continue to tick. Mind you, I do not claim to be an economist, but the themes we are seeing with our membership are focused spending, effective use of networking, and clear communication. This all may change 3-6 months out, and throughout we will continue to provide networking, education and facilitate meetings.
Next week we’re hosting a program called Vision 2009 which is intended to provide feedback from our community on what else we can do to provide value. We’re looking forward to learning more about what we can do for our members beyond our current agenda. Our expectation is that it’ll be just the zing of fresh ideas we need during our planning for next year. Registration is open, hope you can join us.
Monday, October 20, 2008
InnoTech, 2008
We are pleased to announce InnoTech was a huge success this year! For those that were not able to attend this year we were thrilled to have a solid attendance and impressive trade show floor. Overall feedback was the speakers were top notch, the networking was extremely valuable and content was focused & educational. InnoTech 2009 has been set for October 29, 2009 if you’d like more information on how to participate please contact Sean Lowery at (503) 570-6295.
We would also like to congratulate the winners of the AITP IT Executive of the Year Awards held annually at the InnoTech conference.
- Scott Smith, Temple Inland IT Executive of the Year, Private Sector
- Richard Reynolds, City of Bee Caves, IT Exec of the Year, Public Sector
- James Keeler, Wayport, Information Technologist of the Year
Your commitment to the Austin community, our technology sector and the Austin Technology Council is greatly appreciated. We thank you for your continued efforts.
We would also like to congratulate the winners of the AITP IT Executive of the Year Awards held annually at the InnoTech conference.
- Scott Smith, Temple Inland IT Executive of the Year, Private Sector
- Richard Reynolds, City of Bee Caves, IT Exec of the Year, Public Sector
- James Keeler, Wayport, Information Technologist of the Year
Your commitment to the Austin community, our technology sector and the Austin Technology Council is greatly appreciated. We thank you for your continued efforts.
Wednesday, September 17, 2008
Growing Beyond Series A Funding: CxO Best Practices
Yesterday’s CxO Best Practice Program was focused on what next steps a company takes after closing their round of Series A funding.
For most their company has entered the growth stage and is facing the challenges of building a business, developing a market presence, expanding technology, and hoping that one day they will become profitable. All of this, while expenses continue to skyrocket. This is a critical tipping point. Unless executives can effectively manage their business and utilize the proper structure, strategy and tools, they'll most likely fall victim to negative cash flows and their growth will not only be halted but stopped altogether. Unless they can secure patent, copyright, and/or trademark protection as the business grows, their technology may be at risk. Luckily, there are a slough of financial, legal and strategic experts who can help. The panelist focused on a number of general points around IP, office space, Headhunters, Board Management and Series-B funding.
1. How can a company protect its IP when pitching their product to a major corporation? First, identify the value of the patent and do not lose sight of the overall business model when trying to file. This process sometimes takes over 2 years and a great deal of money; when many times, it’s not necessary. If your IP represents a unique idea, then it’s worth either “keeping it a secret” or place confidentially provisions on all documentation. Most investors are not focused on how many patents a company has, they’re more interested in the execution, management and business model. Be explicit, document everything and be completely honest with your board: but that was our lawyer speaking.
2. How do you go about selecting an office space when you’re very small and not sure how big you’ll be in 1-2 years? Focus on getting a good tenant rep first and then consider subletting so you’re not stuck in a lease. Also, be prudent and do not buy what you cannot afford; especially in your first 1-2 years out of the gate.
3. Is it worth hiring a headhunter? If you are being hurt by revenue or growth opportunities by not filling this position---hire someone. Also, check with your board and talk with VC’s before hiring a headhunter.
4. Where can the board help you? They are there to help you accomplish your goals: be open and honest with them about them. Do not sell in the first board meeting, focus on being in business mode and set a tone for realistic and pragmatic goals.
5. When do you focus on Series-B Funding? Start thinking about series B immediately after closing Series A. You need to position your company to track to a successful Series B by executing your plan but also by thinking about what the options are for follow on funding (strategic investor, debt financing, new lead for equity round, some combination of the above).
If you have additional questions about today’s program please visit www.austintechnologycouncil.org
Speakers:
Corey Blahuta, Managing Director-Austin, vcfo
Michael Barrett, Fulbright & Jaworski LLP
Jeff Sunshine, The Bank Street Group LLC
Moderator: Michael Cation, Founder, NovusEdge
For most their company has entered the growth stage and is facing the challenges of building a business, developing a market presence, expanding technology, and hoping that one day they will become profitable. All of this, while expenses continue to skyrocket. This is a critical tipping point. Unless executives can effectively manage their business and utilize the proper structure, strategy and tools, they'll most likely fall victim to negative cash flows and their growth will not only be halted but stopped altogether. Unless they can secure patent, copyright, and/or trademark protection as the business grows, their technology may be at risk. Luckily, there are a slough of financial, legal and strategic experts who can help. The panelist focused on a number of general points around IP, office space, Headhunters, Board Management and Series-B funding.
1. How can a company protect its IP when pitching their product to a major corporation? First, identify the value of the patent and do not lose sight of the overall business model when trying to file. This process sometimes takes over 2 years and a great deal of money; when many times, it’s not necessary. If your IP represents a unique idea, then it’s worth either “keeping it a secret” or place confidentially provisions on all documentation. Most investors are not focused on how many patents a company has, they’re more interested in the execution, management and business model. Be explicit, document everything and be completely honest with your board: but that was our lawyer speaking.
2. How do you go about selecting an office space when you’re very small and not sure how big you’ll be in 1-2 years? Focus on getting a good tenant rep first and then consider subletting so you’re not stuck in a lease. Also, be prudent and do not buy what you cannot afford; especially in your first 1-2 years out of the gate.
3. Is it worth hiring a headhunter? If you are being hurt by revenue or growth opportunities by not filling this position---hire someone. Also, check with your board and talk with VC’s before hiring a headhunter.
4. Where can the board help you? They are there to help you accomplish your goals: be open and honest with them about them. Do not sell in the first board meeting, focus on being in business mode and set a tone for realistic and pragmatic goals.
5. When do you focus on Series-B Funding? Start thinking about series B immediately after closing Series A. You need to position your company to track to a successful Series B by executing your plan but also by thinking about what the options are for follow on funding (strategic investor, debt financing, new lead for equity round, some combination of the above).
If you have additional questions about today’s program please visit www.austintechnologycouncil.org
Speakers:
Corey Blahuta, Managing Director-Austin, vcfo
Michael Barrett, Fulbright & Jaworski LLP
Jeff Sunshine, The Bank Street Group LLC
Moderator: Michael Cation, Founder, NovusEdge
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