LivingSocial, Chase Start $3 Million Grant Program for Small Businesses

Washington, DC – LivingSocial, one of the largest eCommerce site in the US has partnered with Chase,  the commercial banking business of JPMorgan Chase & Co. to set up a $3 million funds to be given as grants to Americans with small businesses and jump start the small business industry in the DC area.

The innovative project is called “Mission: Small Business” and has been launched last week. The program will seek 12 entrepreneurs to be granted a $250,000 development fund and also marketing resources to kickstart the business and help it grow. The application process started last week and will end in June 30, 2012 and the final list of recipients will be announced by September 15, 2012.

The requirements to be part of the “Mission:Small Business” is pretty simple, your business must be running for the past two years and must have less than 100 employees. A website has been launched to those interested in joining. Participants can enter their business and answer questions about why their business should be funded, create a concise plan on how the fund will be used to grow their business and the positive impact of the business to the community.

“Small businesses are invaluable to the growth of our economy, and the ‘Mission: Small Business’ grant program is designed to provide small businesses with the solutions they need to grow and thrive,” said Richard Quigley, president, Business Card, Chase.

“Small businesses are the economic engine of this country, and LivingSocial’s goal is to help energize their connections with people seeking new and exciting experiences in their communities,” said Tim O’Shaughnessy, LivingSocial CEO and Co-founder.

The winning businesses will be judged by a panel of experts when it comes to small businesses. The panel list includes:

Steve Case, entrepreneur and co-founder of AOL; CEO, Revolution LLC
Candace Nelson, founder of Sprinkles Cupcakes
Jason Calacanis, CEO, Mahalo.com
David Chavern, executive vice president and chief operating officer, U.S. Chamber of Commerce
Richard Quigley, president, Business Card, Chase
Tim O’Shaughnessy, CEO and co-founder of LivingSocial

Visit the “Mission: Small Business” Official Website to learn the requirements and submit businesses:

https://www.missionsmallbusiness.com/

Pleasant Pops Food Truck Raises $26,000 on Kickstarter

Washington, D.C. – Pleasant Pops, a District popsicle stand-turned-food truck owned by Roger Horowitz and Brian Sykora used the online starter funding site Kickstarter to raise fund for their planned first eatery in Adams Morgan. Roger and Brian’s move on using crowd sourcing to finance the opening of their restaurant received warm reception for it was able to raise $26,000.

“Kickstarter is one of the best-known funding sites, and we just wanted an extra cushion in case we can’t open up on time in July,” said Horowitz, 27, during a conference on restaurant start-ups, hosted last week by the business group Think Local First D.C.

The entrepreneurs tapped out all their savings with construction costs and unforeseen expenses that is why they needed a cash reserve and Kickstarter became their final hope in accomplishing their dreams. The two started the campaign 2 months ago hoping to raise $20,000 to support the expenses and on April 26, the duo received their funding dream of $26,366 from 423 backers.

As treat to the backers, Roger and Brian will be offering exclusive goodies like an invitation to the grand opening for those who funded $25 and above. The restaurant will be located at 1781 Florida Ave. It will feature a locally produced beverages like coffee, sandwiches and and of course ice pops.

Pleasant Pops Farmhouse Market & Cafe will continue to offers its signature ice pops recipe using fruits coming from the local farmers.

Kickstarter was launched in 2009 and has been helping creative people kickstart their projects and supports different categories like arts, music, food and start-up businesses.

WSJ’s Walt Mossberg Gives DC-Based HomeSnap Strong Review

Washington, D.C. – HomeSnap, an iPhone app from the online brokerage company Sawbuck Realty which can tap users to details on more than 90 million homes in the country has receive strong and positive review from Walt Mossberg, the influential personal technology columnist at the Wall Street Journal.

The mobile app allows users to access important data in real estate like the current value of a home, last sale date and price, and local schools and this can be done just by taking a picture of a prospective home. Sawbuck Realty operates on a multiple listing service (MLS) data which houses real estate data like price, interior design and information and services like setting up for a visit. The App will tap in the database to process the picture you snapped and return you with the final sale price and complete listing history.

“If you’re looking for a house or just curious about one and you own an iPhone, HomeSnap is a clever, useful and entertaining tool,” wrote Walt Mossberg.

According to the co-founder and CEO Guy Wolcott, The app relies on information about the user’s location — not the image that’s snapped — to determine what property to retrieve information for. Even homes that are not archived in the MLS can also provide information, HomeSnap can access the property tax and other public records to provide vital information for buyers and homeowners.

“We pass much of this to our server where we use several different algorithms to compare the sensor data to our data on homes, lots blocks and streets,” Wolcott said. “The result is the home you snapped.”

Earlier this year, the company raised $2 million in a round of funding led by DC-area real estate investor Robert Stewart.

Download the App here:

http://www.sawbuck.com/homesnap

Landover-Based 2tor Names Catherine Graham as New CFO

Landover, Maryland – 2tor, Inc., an online education firm which partners with universities to build, administer, and market online degree programs has announced on Tuesday (May 1, 2012) the appointment of Catherine Graham as its new Chief Financial Officer. Graham replaces Robert Cohen for the position but Cohen will continue to be a part of 2tor operations as the Chief Operations Officers (COO).

The appointment of a new CFO comes after the company has reached another funding amounting to $26 million a month ago. The company which was founded in 2008 has now reached $96 million since its launching and it is now considered as one of the top funded start-ups venturing in the education industry.

According to Chip Paucek, co-founder and Chief Executive Officer of 2tor, they are delighted to add Catherine to the 2tor leadership team. Graham has over 20 years of experience in the banking and technology sectors, and was involved with a number of successful IPOs, strategic acquisitions and organizational sales. Graham has a very impressive resume including working as the executive vice president and CFO of Online Resources Corporation, working as the CFO of at DavCo, the largest franchisee of Wendy’s International. She also has an M.B.A. degree from Loyola College in Maryland.

“Catherine’s experience with fast-growth companies, deep expertise in leading a wide breadth of corporate financial events and remarkable attitude makes her a perfect functional and cultural fit for the company. 2tor is growing at a rapid rate and we’re working towards our mission to deliver groundbreaking online graduate education while creating a great place to work for our employees.” added by Chip Paucek.

2tor currently partners with Universities and offers the online courses Master of Arts in Teaching and Master’s of Education in Advanced Instruction from the University of Southern California’s Rossier School of Education, Master of Social Work from the University of Southern California School of Social Work, Master’s in Nursing from Georgetown University School of Nursing & Health Studies, Master of Business Administration from the University of North Carolina at Chapel Hill’s Kenan-Flagler Business School, and Master of Public Administration from the University of North Carolina at Chapel Hill’s School of Government.

To learn more about 2tor, visit the official website:

http://2tor.com/

Rockville-Based Supernus Pharmaceuticals Prices IPO

Rockville, Maryland – Supernus Pharmaceuticals, a specialty pharmaceutical company focused on developing and commercializing products for the treatment of central nervous system has increased its IPO valuation up to 14% last Tuesday after it sets price to the shares being sold in its IPO.

The company has raised $50 million in its initial public offering (IPO) on Tuesday after selling 10 million shares of its stocks at $5 for every share. The Company’s shares are listed on The NASDAQ Global Market under the trading symbol “SUPN.” The $5 a piece is not the original planned price for the IPO, it was previously priced at $12 or $14 a piece and only plans to sell 5.8 million of shares. Even though there the price was cut more than half, the company was able to met its penned IPO of $50 million.

Supernus Pharmaceuticals will be using the raised money for the development of new drugs and to fund the commercial release of the SPN-538, SPN-804, SPN-810 and the SPN-812 which are products for the treatment of central nervous system. The company will also use the money to pay its loans and other general corporate needs.

Citigroup and Piper Jaffray & Co. were the acting underwriters and managers of the initial public offering while Cowen and Company, LLC and Stifel Nicolaus Weisel were also part of the IPO as acting co-managers.

To learn more about the Biotechnology company, visit the official website:

http://www.supernus.com/

Baltimore-Based Zentech Lands $5.95 Million for Acquisition

Baltimore, Maryland – Zentech Manufacturing, Inc., a premier electronics contract manufacturing company offering PCB (Printed Circuit Board) Assembly, PCB Testing, and PCB design services has raised $5.95 million of private equity funding to finance an upcoming and undisclosed acquisition according to a filing with the Securities and Exchange Commission (SEC).

The new funding Funding was lead by NewSpring Capital and backed by an undisclosed venture capital firm. As part of the financing, Gregory Barger and Anne Vazquez of NewSpring Capital will be part of the board of directors of Zentech. The company has also made a deal with Cole Taylor Bank for a $7.7 million credit facility.

Matthew Turpin leads the Zentech Manufacturing, Inc. and also serves as the President. He became a part of the company in 2006 and was a graduate of University of Maryland with a degree of BS in Business. his background includes engineering, product development, manufacturing and quality. The company operates in a 42,000-square-foot facility which houses equipment and machinery used in assembling circuit boards.

NewSpring is a venture capital firm focusing on companies in the Mid-Atlantic region and has offices in Pennsylvania, New Jersey, Washington and Maryland. The equity firm has $800 million of funds for 3 investment strategies. Gregory Berger is a partner with the NewSpring Mezzanine department and focuses on the middle-market financing while Anne Vasquez is a Principal member of the NewSpring Capital firm.

Learn more about the Zentech by visiting their official website:

http://www.zentech.com/

Reston-Based ISOC Names Inaugural Internet Hall of Fame Class

Reston, Virginia – The Internet Society (ISOC), a global cause-driven organization governed by a diverse Board of Trustees that is dedicated to ensuring that the Internet stays open, transparent and defined by its users has announced the names of the inaugural Internet Hall of Fame inductees during the Internet Society’s Global INET 2012 conference in Geneva, Switzerland. The Internet Society (ISOC) has also launched the InternetHallofFame.org, a website which features the inductees and their contributions in the internet industry, photographs, biographies and interviews conducted by the top magazine WIRED.

The inaugural inductees list are divided into 3 categories; the Pioneers Circle, Innovators and the Global Connectors. The initial 33 members are now in the website and each month will highlight multiple inductees. Vince Cerf, one of the inductees of the pioneer circle is the first to be featured with an interview by Wired.

Raúl Echeberría, Chairman of the Internet Society’s Board of Trustees, noted, “The Internet, which connects more than two billion people around the world today, is the result of many important contributions from creative and visionary individuals over the past several decades. The 2012 Internet Hall of Fame celebrates the accomplishments and advancements of 33 talented people who have made significant contributions to the design, development, and expansion of the Internet.”

The Internet Society President and CEO Lynn St.Amour also stated that induction is a historic event for it gathered the internet visionaries, innovators, and leaders representing different vision and field of work in the internet industry. She also added that the inductees are very diverse and represents different countries.

The Internet Hall of Fame is an annual awards program that has been established by the Internet Society to publicly recognize a distinguished and select group of visionaries, leaders and luminaries who have made significant contributions to the development and advancement of the global Internet.

Visit the official website of the Internet Hall of Fame for the complete list:

http://www.internethalloffame.org/inductees

Steve Case to Keynote MAVA’s Capital Connection

Washington, D.C. – Steve Case, the top businessman and philanthropist and also founder of the Revolution venture capital firm has been scheduled to be the Keynote speaker for 25th Anniversary Capital Connection which will be hosted and sponsored by the Mid-Atlantic Venture Association (MAVA). The event is scheduled on May 24 and Steve Case will be addressing national entrepreneurial trends, new investment initiatives and public policy affecting the current businesses today.

The Capital Connection 2012 event is a very reputable and nationwide industry conference and will be a one and a half day event which Mr. Case will also be providing closing remarks and he will deliver highlights and milestones of his success as an investor, philanthropist, businessman and innovator.

“Steve Case’s personal journey as an innovator and Internet pioneer at AOL; entrepreneurial champion and investor of companies such as Zipcar and LivingSocial; and public policy influencer working closely with President Obama, Democrats and Republicans in Congress, provides him with the particularly unique vantage of providing critical insight for anyone in the business of building a high performing company,” said Julia Spicer, Executive Director of the Mid-Atlantic Venture Association. “Whether from his early days as a previous Capital Connection presenter to his influential role today in championing and investing in entrepreneurial causes, it is still his self-described moniker as entrepreneur first and foremost that makes him such a credible voice of interest to our attendees.”

Key features in this year’s Capital Connection and TechBUZZ conference:

• Who’s Hot: A who’s who of “Top Tech” companies from around the country.
• What’s the BUZZ?: The high energy, fast-pitch TechBUZZ program showcasing what’s new and fresh from Seed Stage startups.
• Easy Access: A new rate structure to make the conference accessible to a broad range of entrepreneurs, angel investors, incubators and companies across all stages of growth.
• Opportunity to Tell the Company Story: An unparalleled opportunity for early, growth and late stage firms to present business models for investment or showcase their success.

To learn more about the Capital Connection 2012, visit MAVA’s Official Website:

http://www.mava.org/News-Announcements.aspx?NewsId=92

Herndon-Based MicroPact Launches Innovation Challenge

Herndon, Virginia – MicroPact, a top provider of case and business process management (BPM) software and develop of the entellitrak, a Unified BPM platform for Case and Business Process Management has announced the launching of the MicroPact Innovation Challenge. The event provides professionals and innovators the environment to make their great ideas into real-world applications and showcase them to market and to generate income.

MicroPact made the announcement during the Gartner Business Process Management Summit 2012 and at the same demonstrated the Entellitrak and other BPM software with unified and open architecture approach. The event is expected to challenge entrepreneurs and innovators of the industry to identify new business application software that will provide efficient solutions in different types of organizations. The winners of the competition will be given a chance to sell their real-world applications using the entellitrak architecture in the marketplace. The competition will open new doors to the business process industry and IT professionals aiming to develop efficient business application development software, make them reality and deploy in the market.

“The real foundation of continuous innovation is the ability to source ideas from a pool of engaged, creative people who are not afraid to tackle the problems that seem the most daunting,” said Clara M. Conti, Vice President, Strategic Programs at MicroPact. “The Innovation Challenge gives today’s problem solvers and innovators the opportunity to convert great ideas into real-world applications, to bring them to market, to generate income and to anticipate future challenges.”

The MicroPact Innovation Challenge will start accepting entries this coming June 1,2012 for the Summer-Fall series. There will be a monthly winner starting July 1 through October 2012. The event is twice a year and will also have Winter-Spring competition. The software develop by the participants will be judged based on the business model. presentation of the software and how the contestants utilized the entellitrak platform and also its potential in the market. The prizes includes a minimum of $500 in cash prize, a revenue share of the sales, publicity as a BPM developer.

Learn more about the competition through their website:

http://www.micropact.com/blog/detail/micropact-announces-innovation-challenge-program

Tech Council of Maryland Names Finalists for TCM Tech Awards

Rockville, M.D. – The Tech Council of Maryland (TCM), the largest technology trade group serving the advanced technology and biotechnology communities of Maryland has announced the finalist of the up and coming annual TCM Tech Awards. The gala awarding of the winners will be held at the Bethesda North Marriott Hotel and Conference Center on April 26. This is the 24th year of the highly coveted and most respected awarding and honoring event in Maryland.

The categories of the awards includes Executive of the Year, CFO of the Year, Life Sciences Firm of the Year, High Tech Firm of the Year, Government Contracting Firm of the Year, Emerging Firm of the Year and the STEM Educator of the Year. Aside from the typical categories, TCM will also be honoring Senator Barbara A. Mikulski as the TCM Hall of Fame Award and the Advocate of the Year Award.

“The TCM Tech Awards celebration is one of the preeminent events in Maryland, where more than 900 leaders in the state’s high tech and life sciences communities convene for networking, entertainment, and to honor the best-of-the-best in our industries,” said Art Jacoby, TCM’s CEO. “Maryland’s Life Science and Technology companies are leading the way to a healthier world and a higher standard of living for all. We celebrate the collective success of our region and the special contributions of our finalists and award winners.”

To those interested in attending the event, you can get the tickets at the TCM website and it is open for individual and companies, the prices are at follows:
Member $195
Member Plus $195
Non Member $225
Member Table $1755
Non Member Table $2025

The special event is scheduled on April 26 and will start at 5:30 P.M and ends at 9:00 P.M.

Visit the link below for the complete list of nominees:

http://www.techcouncilmd.com/news/041212.php

Visit the link below on registration and ticket infos:

http://www.techcouncilmd.com/events/events_showEvent.php?evt_id=431