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Microvision nets $30.8M from stock sales

Microvision, a Redmond-based developer of light-scanning technologies, has netted approximately $30.8 million from two recent stock sales. According to its press releases, Microvision intends to use the net proceeds of the offering for general corporate purposes, including, but not limited to, working capital and capital expenditures.

Related external links (will open a new window):

  • Microvision Announces Closing of Public Offering of Common Stock
    Microvision press release - Redmond, Wash. - December 2, 2009
  • Microvision Announces Closing of Public Offering of Common Stock
    Microvision press release - Redmond, Wash. - November 24, 2009


    Related WTC links:

  • Microvision is a WTC client
  • Microvision announces first sales of world's first laser pico projector
    Posted 10/09/2009
  • Microvision CEO says pico projector to retail for $400-$600 at introduction
    Posted 8/03/2009
  • Microvision secures $1M contract from Lockheed Martin
    Posted 7/08/2009
  • Microvision receives $15 million equity investment
    Posted 6/22/2009

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    3TIER, UW and WSU are part of $178M smart grid project

    3TIER, a Seattle-based provider of renewable energy assessment and power forecasting services, and the University of Washington and Washington State University are among 12 Northwest utilities and several companies taking part in a smart grid demonstration project which received $89 million in stimulus funding from the U.S. Department of Energy. The Pacific Northwest Smart Grid Demonstration Project, led by Battelle Memorial Institute in Richland, Wash., spans five states and will involve 60,000 consumers in a project that will validate new technologies and approaches for energy efficiency. Of the approximately $178 million total project cost, half will be cost-shared by the participants.

    Related external links (will open a new window):

  • Pacific Northwest Smart Grid Demonstration Project
    Battelle - Richland, Wash.
  • DOE Selects the Northwest and 3TIER for $178M Smart Grid Demo
    3TIER press release - Seattle - November 24, 2009
  • Secretary Chu Announces $620 Million for Smart Grid Demonstration and Energy Storage Projects
  • Pacific Northwest to host smart grid demo
    Sustainable Industries - San Francisco - December 3, 2009
  • Pacific Northwest emerges as power player in ‘smart-grid’ sweepstakes
    Puget Sound Business Journal - Seattle - December 4, 2009

    Related WTC links:

  • 3TIER is a WTC client
  • 3TIER cuts staff due to uncertainty in the renewable energy market
    Posted 10/09/2009
  • 3TIER opens offices in Germany, Australia and India
    Posted 4/06/2009
  • Washington's clean tech companies -- a list from Xconomy
    Posted 3/03/2009
  • 3TIER launches global wind prospecting tool
    Posted 2/06/2009
  • 3TIER receives $10M in venture funding
    Posted 12/18/2008

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    Imagine H2O business plan competition offers $70,000 prize

    The inaugural Imagine H2O Prize competition is now open for submissions. The competition offers prizes of $70,000 in cash and in-kind services, which will be awarded to the business plans which promise the greatest breakthroughs in the efficient use and supply of water. Entry deadline is November 16, 2009.

    Related external links (will open a new window):

  • Imagine H2O Prize

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    UW collaboration with Artemisia BioMedical receives $1.5M from Life Sciences Discovery Fund

    University of Washington, in collaboration with Artemisia BioMedical, Inc. has won a $1.5 million award from the Life Sciences Discovery Fund to advance the development of a novel cancer-treatment technology. A UW research team under the leadership of Tomikazu Sasaki, Ph.D., will work with Artemisia BioMedical to further advance their project entitled "Development of Artemisinin Compounds for Cancer Treatment." Artemisia BioMedical, a privately-held biotechnology company based in Newcastle, Washington, and the UW team received WTC support in 2007 for this technology which holds promise as a breakthrough for the treatment of many types of human cancer.

    Related external links (will open a new window):

  • Press release from Artemisia BioMedical, Inc
  • Press release from Life Sciences Discovery Fund

    Related WTC links:

  • Artemisia BioMedical, Inc. is a WTC client

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    MicroGREEN Polymers wins $60K Zino investment

    MicroGREEN Polymers, an Arlington-based developer of environmentally friendly recycled plastic products, has won $60,000 in the fourth-annual Zino Zillionaire Investment Forum (ZZIF).

    "We are honored to receive the ZZIF 2009 Non-Technology Best Investment Fund Award. The award money, together with funds we secured for our upcoming Series B closing, will be used to build-out our facilities to full commercial production scale. This will enable us to further demonstrate to CPGs how Ad-air(TM) empowers them to lower the material costs of plastic products and improve their sustainability to meet growing consumer demands," said Tom Malone, CEO of MicroGREEN Polymers.

    Related external links (will open a new window):

  • ZINO Society Awards $120,000 Investment Funds to Two Companies
    Reuters - Seattle - October 21, 2009

    Related WTC links:

  • MicroGREEN Polymers is a WTC client
  • MicroGREEN Polymers business evolution profiled
    Posted 8/24/2009
  • MicroGREEN Polymers raises $1.6M in ongoing investment round
    Posted 7/10/2009

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    nLIGHT, Lockheed Martin Aculight, among the Washington companies receiving millions in job-creating Defense spending

    U.S. Senator Patty Murray (D-WA) announced October 6, 2009 that the $63 million in federal defense work for Washington state companies that she included in the Fiscal Year 2010 Defense Appropriations bill has passed the full Senate. Senator Murray is a senior member of the Senate Defense Appropriations Subcommittee.

    "This spending will create good jobs in Washington state and help our armed forces get the cutting-edge military equipment they need and deserve," said Senator Patty Murray. "Washington state companies are at the forefront of research and innovation, and these contracts will give them the resources they need to continue developing new ways to keep our service members and country safe. The spending I have included in this bill will provide a critical boost to the economy, and it will make a strong investment in research, technology, and innovation in Washington state."

    nLight of Vancouver received $4 million for "Advanced Fiber Lasers Systems and Components." This funding would be used to improve the Air Force's eye-safe laser capabilities by developing advanced fiber laser technology. In addition to supporting engineering jobs in Clark County, Wash., this would improve military laser technology used to counter roadside bombs and other threats to the warfighter.

    Lockheed Martin Aculight Corporation of Bothell received $4 million for "Optical Neural Techniques for Combat/Post-Trauma Healthcare." This funding would develop new laser stimulation technology for the Army to address hearing loss, balance disorders and other medical conditions affecting soldiers. This innovative approach towards hearing loss and other medical conditions would advance research to better care for soldiers returning from war.

    Related external links (will open a new window):

  • Job-Creating Defense Spending for Washington State Passes Full Senate
    U.S. Senator Patty Murray - Washington, D.C. - October 6, 2009

    Related WTC links:

  • nLIGHT is a WTC client
  • Aculight is a WTC client

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    Omeros stock IPO closes lower in first two days of trading

    Omeros Corporation, a Seattle-based biopharmaceutical company, saw its stock price close lower in its first two days of trading after the company's initial public offering (IPO) on October 8, 2009. The company had priced its offering of 6.82 million shares at $10 each, but saw shares close trading at $8.46 on October 9. The Seattle Times reported that "Omeros, the first Pacific Northwest-based company to go public in nearly two years, was also the first early-stage pharmaceutical company nationally to do so since 2007."

    Related external links (will open a new window):

  • Omeros, Worst Performing IPO of 2009, Casts Shadow Over Other Aspiring Biotechs
    Xconomy - Seattle - October 27, 2009
  • Omeros stock sinks in market debut
    The Seattle Times - Seattle - October 9, 2009
  • Omeros Prices IPO at $68.2 Million
    The New York Times - New York - October 8, 2009

    Related WTC links:

  • Omeros is a WTC client
  • Washington Technology Center Awards $485,261 in Research Funding
    Posted 1/14/2009
  • Omeros awarded $465,000 grant for Parkinson's research
    Posted 1/13/2009

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    Oct. 14, 2009 -- Foresight seminar: How Small Businesses Can Successfully Commercialize Technology

    Washington Small Business Development Centers and Washington Technology Center present this must-see seminar, based on Foresight Science & Technology's instruction to SBIR awardees of the agencies Foresight supports as an SBIR Commercialization Support Contractor.

    The seminar provides an overview of the process of commercialization including how to

    * Determine entry markets
    * Find customers
    * Develop a commercialization strategy
    * Find commercialization partners and funding
    * Value your technology
    * Determine royalty rates
    * Develop a term sheet
    * Conduct negotiations

    The presentation includes many real-world examples and attendees are encouraged to ask questions.

    Speaker:

    Phyl Speser, J.D., Ph.D., author of the best selling text book, "The Art & Science
    of Technology Transfer"

    Location:

    WSU West
    Pike Tower Building
    520 Pike Street, Suite 1101
    Seattle, WA
    Parking available: Pike Tower Bldg., Convention Center; Washington Athletic Club.

    Registration:

    $20
    Space limited to 35 registrants.
    Deadline Oct. 9, 2009.

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    Foresight Science & Technology commercializes between 500-800 new technologies each year. Among our customers, we serve as a Commercialization Support Contractor for the US DOE, EPA, NSF, NIST, USDA, DOD, and NIH Small Business Innovation Research Programs as well as state programs in Connecticut, Massachusetts, Pennsylvania, Indiana, etc. The company also supports individual small and large business, universities and technical institutes, government laboratories, and foundations such as the Wallace Coulter Foundation and the Kauffman Foundation. For more information on services and customers see http://www.ForesightST.com.

    Dr. Phyl Speser has been called one of the founders of the modern practice of technology transfer by Ashley Stevens, President of the Association of University Technology Managers and Executive Director of the technology transfer office at Boston University; He has supported successful commercialization of technologies in fields from optics to software and pharmaceuticals to wind power. His is also the author of many publications on technology transfer, commercialization, and science policy - including the best selling textbook The Art and Science of Technology Transfer (John Wiley and Sons, 2006) and a frequent presenter at professional meetings. Dr. Speser is a member of the Bar Association of the District of Columbia, the Association of University Technology Managers (where he is on the Public Policy Committee) and the Licensing Executives Society (where he is Chair, Strategic Alliance Committee). He served two terms on the Board of the Technology Transfer Society, is a recipient of their Certificate of Appreciation (1991). He also was Chairman of its Task Force on National Technology Transfer Policy (1989-1991), and received Best Paper, Annual Meeting (1987). He was a gubernatorial appointment to the Board of the Washington Technology Center from 1994 to 1997. Dr. Speser has taught intellectual property at the State University of New York at Buffalo Law School, anthropology at The American University, Washington, DC, and political science at the Universitat Mannheim, Germany and the State University of New York at Buffalo. Prior to founding Foresight, he was Special Assistant for Science Policy at the Federation of American Scientists. He was the lead lobbyist for the Small Business Innovation Development Act, developer of the STTR concept with Roland Tibbetts, and a lobbyist for the Technology Transfer Act of 1989, among other legislation. During the 1980's, he also was the point person for the science community on the Federal budget as Executive Director of the National Coalition for Science & Technology. Dr. Speser holds a Ph.D. and a J.D. from the State University of New York at Buffalo.

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    ARPA-E requests input on future funding opportunities

    The Advanced Research Projects Agency – Energy (ARPA-E) announced a formal Request for Information (RFI) for future funding opportunities. The RFI requests public input on potential ARPA-E programmatic areas and opportunities to overcome technological roadblocks to the development of transformational technologies relevant to the ARPA-E mission. The information collected through this process will assist ARPA-E in developing new programs and funding opportunities.

    ARPA-E’s first Funding Opportunity Announcement, released on April 27, 2009, and solicited a broad range of ideas for transformational energy technology development. With this RFI, ARPA-E is now reaching out to the public for input on specific programmatic energy technology areas that may be well-suited to provide transformational impacts on ARPA-E’s mission areas of reducing foreign energy imports; decreasing energy related emissions, including those of greenhouse gases; increasing energy efficiency across the U.S. economy, and ensuring that the U.S. maintains a technological lead in developing and deploying advanced energy technologies.

    Responses to the RFI are due to ARPA-E by September 25, 2009. To review the RFI, please visit http://arpa-e.energy.gov/PI.html

    For more information about ARPA-E, please visit http://arpa-e.energy.gov/

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    New technology stimulus program for small businesses in Washington

    Washington Technology Center's new Microfabrication Laboratory Access Program will award short-term access to sophisticated MEMS fabrication equipment to help companies develop job-growing, innovative commercial technologies.

    SEATTLE - August 24, 2009 - Washington Technology Center announces today the launch of the Microfabrication Laboratory Access Program, a new stimulus program that will award short-term access to sophisticated MEMS fabrication equipment to help small companies in Washington develop job-growing, innovative commercial technologies.

    "In these difficult economic times, I commend Washington Technology Center for offering companies increased access to resources for developing market-ready products," said Washington's Director of Commerce Rogers Weed. "This kind of collaboration between the public and private sectors helps support our state's 21st century industries, and more importantly, helps to create quality jobs right here in Washington."

    "Our new lab access program is one of three state-funded programs that we're using to invest in innovation in Washington state," said Lee Cheatham, Ph.D., executive director of Washington Technology Center. "We believe this program will help small companies more effectively leverage limited funding for technology development in the current economy.

    Washington Technology Center will accept proposals from companies with fewer than 100 employees in any technical area or industry that can utilize the facilities and equipment of the center's 15,000-square-foot Microfabrication Laboratory. Eligible projects include, but are not limited to: proof of concept, prototyping, testing, process development, and small-scale production.

    Proposals selected for awards will need to show clear potential for economic impact and a well-defined work plan. As the award program is focused on companies that have an immediate need for laboratory facilities, lab access projects are limited to a maximum of three consecutive months of no-cost Microfabrication Laboratory use.

    Tours of the Microfabrication Laboratory will be held Aug. 28 and Sept. 29, 2009.

    More information about the Microfabrication Laboratory Access Program is available online at http://www.watechcenter.org/accessprogram.

    About Washington Technology Center
    Washington Technology Center is a statewide economic development organization focused on technology and innovation. We spark ideas, form connections between people and resources, and foster job growth to position Washington state as a national technology leader. As an organization, Washington Technology Center channels state, federal, and private resources to help companies develop and commercialize new products and technologies. Our 15,000-square-foot Microfabrication Laboratory provides companies and university researchers access to facilities and specialized equipment for micro-electromechanical systems (MEMS) research and product/process development. The impact of Washington Technology Center's work has generated more than $600 million in additional investment for Washington companies and researchers. For more information how Washington Technology Center can help research and development projects succeed, visit www.watechcenter.org or call 206-685-1920.

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    Forest Concepts wins $350K USDA SBIR Phase II

    Forest Concepts, an Auburn-based developer of innovative wood products, has won a two-year $350,000 Phase II SBIR (Small Business Innovation Research) contract from the United States Department of Agriculture to advance its process for preparing woody biomass such as hog fuel and bark for use as a feedstock for bioenergy applications.

    Related external links (will open a new window):

  • USDA awards wood cleaning contract to Forest Concepts
    Biomass Magazine - Grand Forks, ND - August 19, 2009

    Related WTC links:

  • Forest Concepts is a WTC client
  • Forest Concepts bringing value to wood waste materials
    Posted 7/19/2008

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    EnerG2 awarded $21.3M in energy stimulus funding for facility in Oregon

    EnerG2, a Seattle-based startup in the energy storage market, has received $21.3 million in federal stimulus funding from the Department of Energy to build a high-tech facility in Oregon for commercial-scale production of its nano-engineered ultracapacitor energy storage material.

    EnerG2 uses University of Washington technology to create ultracapacitors which store and release more energy faster than conventional batteries.

    In a press release announcing the funding, Rick Luebbe, CEO of EnerG2, said, "We appreciate the Department of Energy's confidence in us and we are eager to help the next generation of clean transportation become a reality. We are confident that our materials will improve these vehicles' efficiency, range and affordability."

    Related external links (will open a new window):

  • EnerG2 Is Awarded $21.3 Million in Federal Stimulus Funds
    EnerG2 - Seattle - August 5, 2009

    Related WTC links:

  • EnerG2 is a WTC client
  • EnerG2 raises $2.5 million in equity and options
    Posted 6/03/2009
  • EnerG2 raises $8.5 M in financing round
    Posted 11/18/2008

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    President Obama honors UW's Michael Hochberg and other outstanding Washington early-career scientists

    President Obama announced the 100 winners of the 2009 Presidential Early Career Awards for Scientists and Engineers, the highest honor bestowed by the U.S. government on early-career researchers.

    According to the press release, "Nine Federal departments and agencies join together annually to nominate the most meritorious young scientists and engineers-researchers whose early accomplishments show the greatest promise for strengthening America’s leadership in science and technology and contributing to the awarding agencies' missions."

    Winning researchers receive up to a $1 million five-year grant to further their work.

    There are five awardees from the state of Washington:
    -Michael J. Hochberg, University of Washington - nominated by Department of Defense.
    -Alexandre M. Tartakovsky, Pacific Northwest National Laboratory - nominated by Department of Energy.
    -Benjamin E. Smith, University of Washington - nominated by NASA.
    -Ulrike Peters, Fred Hutchinson Cancer Center - nominated by National Institutes of Health.
    -Harmit S. Malik, Fred Hutchinson Cancer Center - nominated by National Science Foundation.

    According to Photonics.com, "Michael Hochberg, assistant professor of photonics at the University of Washington in Seattle, will use his award to advance his research into using silicon photonics as a way to build optical devices and as a way to explore new physical phenomena." Hochberg played an instrumental role in acquiring a $2.5 million electron beam lithography tool to be housed, and available to companies and researchers, in the WTC Microfabrication Laboratory.

    Related external links (will open a new window):

  • President honors outstanding early-career scientists
    The White House - Washington, D.C. - July 9, 2009
  • PECASE Funds Photonics Work
    Photonics.com - Pittsfield, Mass. - July 13, 2009

    Related WTC links:

  • Multimillion-dollar nano tool coming to WTC Lab
    Posted 10/01/2008

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    MicroGREEN Polymers raises $1.6M in ongoing investment round

    Xconomy reports that "MicroGreen Polymers, an Arlington, WA-based developer of technology to recycle plastics into cheaper, environmentally friendly coffee cups among other things, has raised $1.6 million for expansion from WRF Capital and local angel investors (Northwest Energy Angels, Alliance of Angels, and Atlas Accelerator), out of an ongoing round the company expects will net $3 to $4 million later this month."

    Related external links (will open a new window):

  • MicroGreen Polymers Grabs $1.6M to Put Green Plastics Into Your Morning Coffee Cup
    Xconomy - Seattle - July 9, 2009

    Related WTC links:

  • MicroGREEN Polymers is a WTC client
  • MicroGREEN Gives Gift to University of Washington
    Posted 4/02/2008

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    Microvision secures $1M contract from Lockheed Martin

    Microvision, a Redmond-based developer of light-scanning technologies, has secured a $1,000,000 subcontract from Lockheed Martin Corporation to develop a daylight-readable, see-through, low-profile, ergonomic eyewear display. According to a Microvision press release, "This subcontract is part of DARPA’s Urban Leader Tactical Response, Awareness & Visualization (ULTRA-Vis) program, an advanced technology development initiative, whose objective it is to build a soldier-worn system that provides non-line-of-sight command and control in distributed urban operations for dismounted warfighters."

    Related external links (will open a new window):

  • Microvision Announces $1M Contract Award from Lockheed Martin Corporation to Develop Low-Profile See-Through Eyewear Displays
    Microvision - Redmond, WA - July 7, 2009

    Related WTC links:

  • Microvision is a WTC client
  • 6-22-09: Microvision receives $15 million equity investment
  • 5-8-09: Microvision lands supplier of green lasers for its pico projector

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    Guide to ARRA energy funding from Prosperity Partnership

    The Prosperity Partnership has produced a guide to ARRA (the American Recovery and Reinvestment Act) entitled: "A Basic Introduction to Energy-Related ARRA Funding Opportunities." The publication provides guidance for organizations seeking energy-related funding through competitive grants and contracts.

    Related external links (will open a new window):

  • Download the guide [.ppt]

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    PhysioSonics raises $2 million in financing

    PhysioSonics, Inc., a privately held developer of noninvasive neurologic monitors, announced it has raised $2 million in a second tranche of series A financing. This follows a $4 million investment in 2008. The company is commercializing technologies including an ultrasound-based transcranial Doppler (TCD) monitor neuromonitor. In a press release, Brad Harlow, president & CEO of PhysioSonics said, "We are very excited with the continued validation of our product development as more neurosurgeons, anesthesiologists and cardiologists view our technology." The company was formerly known as Allez Physionix.

    Related external links (will open a new window):

  • PhysioSonics, Inc. Raises $2.0 Million for Second Tranche of Series A Financing
    Earthtimes (press release) - London, UK - July 1, 2009

    Related WTC links:

  • PhysioSonics is a WTC client

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    Washington Technology Center awards $376,454 to spur innovation and jobs

    Five company-researcher projects have been awarded state funding for the development of innovative commercial technologies.

    SEATTLE – July 1, 2009 – Washington Technology Center has awarded a total of $376,454 in state funding to five researchers working with companies to develop commercially promising technologies. The companies expect commercial adoption of their technologies to create 175 new jobs in Washington during the next five years.

    The company partners are: Data Data, of Vancouver; Healionics, of Redmond; Modumetal, of Seattle; Paine Electronics, of East Wenatchee; and Simulab, of Seattle. Winning proposals from the University of Washington and Washington State University Vancouver described innovation in computer systems and microelectronics, advanced materials and manufacturing, and biotechnology and biomedical devices.

    "I commend these companies and their research partners for growing new business opportunities," said Washington Governor Chris Gregoire in support of this round of award winners. "This kind of investment in innovation builds on our state’s strong university research institutions, supports our 21st century industries, and most importantly, helps to create family-wage jobs in Washington.”

    This round of projects addresses a wide range of innovation:

    Data Data, Inc., a property data solutions company founded in 2007, is collaborating with the School of Engineering and Computer Science at Washington State University Vancouver to evaluate the use of machine learning algorithms to improve document classification and information extraction from images of public records documents. Data Data expects that successful application of this technology will enable the company to scale its real estate market statistics services to the national level and, in the process, create 40 new technology jobs in Washington during the next five years. WSU Vancouver will receive $28,546 in Phase I research and technology development funding from Washington Technology Center and $5,845 from Data Data for the project. More

    Healionics Corporation, a startup biomaterials company in Redmond, is partnered with the Department of Medicine at the University of Washington to commercialize UW technology that will reduce infection from skin-breaching devices such as catheters. Healionics expects this technology will enable the company to capture a significant part of a $100-200 million market resulting in the creation of 50 new technology jobs during the next five years. UW will receive $82,500 in Phase II research and technology development funding from Washington Technology Center and $16,500 from Healionics for the project. More

    Modumetal, Inc., a Seattle-based developer of nanostructured materials, is teamed with the University of Washington’s Department of Materials Science and Engineering to develop an innovative nanostructured anti-corrosion technology. Modumetal projects this new technology will lead to many opportunities in a $120 billion market and grow 50 jobs in the company during the next five years. UW will receive $100,000 in Phase I research and technology development funding from Washington Technology Center and $20,000 from Modumetal for the project. More

    Paine Electronics, LLC, a manufacturer of pressure instrumentation with headquarters in East Wenatchee and a production facility in Renton, is collaborating with the University of Washington’s Department of Electrical Engineering to develop an integrated circuit for use in high-temperature sensors. Paine Electronics expects the new sensors will open up opportunities in the growing geothermal and mineral exploration markets, and create 25 jobs during the next five years. UW will receive $65,408 in Phase I research and technology development funding from Washington Technology Center and $14,538 from Paine Electronics for the project. More

    Simulab Corporation, a Seattle-based developer of medical and surgical simulators, is working with the BioRobotics Laboratory at the University of Washington to commercialize UW software capable of measuring hands-on surgical skills. Simulab plans to target surgical residency programs and large hospitals for the skill-evaluating simulators, and projects the creation of 20 jobs during the next five years. UW will receive $100,000 in Phase I research and technology development funding from Washington Technology Center and $20,000 from Simulab for the project. More

    About the Research & Technology Development (RTD) Grant Program
    Washington Technology Center competitively awards around $1 million in state funding annually through the Research & Technology Development Grant Program for technology projects that show strong potential for commercializing products and creating jobs in Washington. Each project team is comprised of a Washington company partner and a researcher from a university or research nonprofit in the state. The company defines the research challenge and provides access to the commercial market. The university or nonprofit researcher executes the research with funding from both Washington Technology Center and the company partner. Since 1996, the RTD program has supported 335 research commercialization projects. Applications for the next funding round are due October 22, 2009. More information about the research and technology development program is available online at http://www.watechcenter.org/rtd.

    About Washington Technology Center
    Washington Technology Center is a statewide economic development organization focused on technology and innovation. We spark ideas, form connections between people and resources, and foster job growth to position Washington state as a national technology leader. As an organization, Washington Technology Center channels state, federal, and private resources to help companies develop and commercialize new products and technologies. Our 15,000-square-foot Microfabrication Laboratory provides companies and university researchers access to facilities and specialized equipment for micro-electromechanical systems (MEMS) research and product/process development. The impact of Washington Technology Center’s work has generated more than $600 million in additional investment for Washington companies and researchers. For more information how Washington Technology Center can help research and development projects succeed, visit www.watechcenter.org or call 206-685-1920.

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    InnovaTek among 12 semifinalists in Clean Tech Open

    InnovaTek, a Richland-based developer of patented technologies for sustainable power and environmental safety, is among 12 Pacific Northwest region semifinalists in the Clean Tech Open, a national competition and program that helps clean technology businesses. The semifinalists were chosen from a field of 56 initial competitors in the clean tech business plan competition. Companies are vying for three regional prizes of up to $50,000 in cash and services as well as one national prize of up to $250,000 in cash and services.

    Related external links (will open a new window):

  • Clean Tech Open
  • Clean Tech Open rewards 12 startups from the Northwest
    TechFlash - Seattle - June 26, 2009

    Related WTC links:

  • InnovaTek is a WTC client

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    Vaagen Brothers Lumber receives stimulus funding

    Vaagen Brothers Lumber, an industry leader in lumber manufacturing based in Colville, Wash., will receive $250,000 in American Recovery and Reinvestment Act (ARRA) funding to purchase high-efficiency equipment to turn logging waste into fuel for energy production.

    "This funding is further proof that the American Recovery and Reinvestment Act is working every day to strengthen Washington state's economy and spur our energy innovation sector," said U.S. Rep. Jay Inslee (D-Wash.), a member of the House Energy and Commerce Committee. "These investments will cut our national carbon emissions and keep Washingtonians on the cutting-edge of the clean energy revolution in these green-collar jobs."

    Oregon Public Broadcasting reports that "a half dozen private sawmills around the Northwest are splitting about $17 million in federal economic stimulus grants. The new awards follow a wood-to-energy theme."

    Related external links (will open a new window):
  • Wood-To-Energy Projects Get Stimulus Dollars
    OPB News - Portland, Ore. - June 16, 2009

    Related WTC links:

  • Vaagen Brothers Lumber is a WTC client

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    Microvision receives $15 million equity investment

    Microvision, a Redmond-based developer of light scanning technologies, announced that Taipei-based Walsin Lihwa Corporation, through its subsidiary Max Display Enterprises Limited, has agreed to an equity investment of approximately $15 million in Microvision.

    "We are pleased to welcome Walsin Lihwa as an investor to Microvision in addition to being a key enabling strategic supply chain partner in our go-to-market strategy," said Alexander Tokman, President and Chief Executive Officer of Microvision. "We look forward to continuing the strong working relationship we have developed with Walsin Lihwa over the years."

    Related external links (will open a new window):

  • Microvision press release
    June 22, 2009

    Related WTC links:

  • Microvision is a WTC client
  • Microvision lands supplier of green lasers for its pico projector

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    Energy stimulus funding awarded to Washington Technology Center

    Center receives $136,000 in funding from the American Recovery and Reinvestment Act (ARRA), disbursed through the U.S. Department of Energy, for nano-scale solar energy technology.

    SEATTLE - June 12, 2009 - Washington Technology Center has been awarded $136,000 in funding from the U.S. Department of Energy "Photovoltaic Supply Chain and Cross-Cutting Technologies" program, for a project to develop nano-scale imprinting methods to enhance thin-film silicon solar energy technology. The program will be funded through the American Recovery and Reinvestment Act.

    This project allows for follow-on work from a Defense Advanced Research Projects Agency (DARPA)-funded research program focused on nanoscale lithography.

    "This project builds on WTC's work over the past three years," said Lee Cheatham, Ph.D., executive director of Washington Technology Center (WTC). "We're pleased with this support from the Department of Energy and Congress. This funding will help Washington Technology Center and our partners accelerate our innovative work in solar energy technology. These investigations into nano-scale imprinting methods could lead to new manufacturing processes and increased efficiencies in the solar energy industry within five years. We believe this investment will help Washington and the Pacific Northwest stay at the forefront of the technology-based clean energy industry."

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    The title of the WTC project is "Nanoimprinted Diffraction Gratings for Light Trapping in Crystal-Silicon Film Photovoltaics."

    "The premise of our work is straight forward," Cheatham explains. "Tiny features on the surface of a silicon thin-film solar cell 'bend' the light in the silicon. More light is trapped and converted into electricity. WTC's principal investigator on the project, Dr. Dirk Weiss, has been getting great results from his work using a technology called 'nanoimprinting,' and this funding will allow him to develop the proof of concept for a solar photovoltaic module."

    Washington Technology Center's project partners are Oregon State University and the National Renewable Energy Laboratory.

    The Washington Technology Center project is one of 24 projects receiving funding from the DOE through a competitive award process.

    According to the DOE Web site, the funded projects range from automated assembly to semiconductor fabrication, and target manufacturing and product cost reduction with the potential to have an impact within 2 to 6 years on a substantial segment of the photovoltaic industry. DOE will invest up to $22 million as part of the Photovoltaic Supply Chain and Cross-Cutting Technologies project which identifies and accelerates the development of unique PV products or processes that will impact the solar industry. The project supports the overall goals of the DOE Solar Energy Technologies Program (SETP or Solar Program).

    The total WTC project cost is $184,000 with $136,000 coming from DOE and nearly $48,000 in cost matching and in-kind contributions from WTC and project partner Oregon State University.

    Resources for additional information:
    -- WTC project summary [.pdf]
    -- DOE Web site link to awarded projects [link to external site]

    About Washington Technology Center
    Washington Technology Center is a statewide economic development organization focused on technology and innovation. We spark ideas, form connections between people and resources, and foster job growth to position Washington state as a national technology leader. As an organization, Washington Technology Center channels state, federal, and private resources to help companies develop and commercialize new products and technologies. Our 15,000-square-foot Microfabrication Laboratory provides companies and university researchers access to facilities and specialized equipment for micro-electromechanical systems (MEMS) research and product/process development. The impact of Washington Technology Center's work has generated more than $600 million in additional investment for Washington companies and researchers. For more information how Washington Technology Center can help research and development projects succeed, visit www.watechcenter.org or call 206-685-1920.

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    EnerG2 raises $2.5 million in equity and options

    EnerG2, a Seattle-based startup in the energy storage market, has raised $2.5 million in equity and options reports Xconomy. EnerG2's latest funding is on top of the fall 2008 $8.5 million financing round led by OVP Venture Partners of Kirkland and Firelake Capital Management of Palo Alto, California. EnerG2 uses University of Washington technology to create ultracapacitors which store and release more energy faster than conventional batteries.

    Related external links (will open a new window):

  • EnerG2 Snaps Up $2.5M
    Xconomy - Seattle - June 2, 2009

    Related WTC links:

  • EnerG2 is a WTC client

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    Modumetal gains $1.5M in new funding round

    TechFlash reports that Modumetal, a Seattle-based developer of nanostructured materials, has raised more than $1.5 million in a new funding round from Second Avenue Partners, the Alliance of Angels, and other investors.

    Related external links (will open a new window):

  • Modumetal scores new funding
    TechFlash - Seattle, WA - May 29, 2009

    Related WTC links:

  • Modumetal is a WTC client

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    Insitu wins $250M U.S. Special Ops contract for ScanEagle

    Insitu, a Boeing subsidiary which makes unmanned aerial vehicles in Bingen, Washington, has received a five-year contract with a potential value of $250 million from U.S. Special Operations Command for intelligence, surveillance and reconnaissance services using the ScanEagle unmanned aircraft. The camera-carrying drone aircraft was used recently in the U.S. Navy's rescue of an American ship captain held by Somali pirates.

    Related external links (will open a new window):

  • Read the Boeing press release

    Related WTC links:

  • Insitu is a WTC client
  • Insitu unmanned aerial vehicles watched pirates

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    Modumetal, UW Partnership Receives Funding for Anti-Corrosion Technology

    Modumetal to develop an innovative commercial anti-corrosion technology in partnership with University of Washington's Department of Materials Science and Engineering.

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    SEATTLE – May 20, 2009 – Washington Technology Center (WTC) has awarded an Entrepreneur's Access grant to the University of Washington to support an advanced material research collaboration with Modumetal, Inc. of Seattle, Washington.

    Modumetal, Inc., a Seattle-based developer of nanostructured materials, is collaborating with the University of Washington's Department of Materials Science and Engineering on a project titled "Functionally-Graded Preceramic Polymer Coating for Corrosion Resistant Commercial Sulfuric Acid Pipelines."

    "We are excited about this opportunity to partner with the exceptional researchers at the University of Washington to create this cutting-edge material for new commercial anti-corrosion application," says Leslie Warren, Modumetal's Project Manager and senior engineer in this effort. Christina Lomasney, the company's CEO confirms that "with support from partners like the WTC and University of Washington, Modumetal is poised to create a new technology that will have broad industrial application and will result in new jobs and economic growth in our region."

    Sulfuric acid is a highly corrosive substance used extensively in industrial processes. Typical anti-corrosion coatings have a weakness – if breached, they leave the metal surface underneath the coating vulnerable to acid attack. Modumetal has a unique production method that eliminates this surface weakness by allowing anti-corrosion materials to be functionally combined with metal.

    With this project, the team of Modumetal and UW Professor Rajendra Bordia, Ph.D., plans to modify a preceramic polymer system developed at the University to merge with a functionally graded materials system developed by Modumetal for corrosion protection of commercial sulfuric acid production pipelines for ConocoPhillips.

    "This project combines the research that has been done at the University of Washington and at Modumetal to develop a novel solution for a significant problem in the area of corrosion," said Dr. Bordia. "The short term EA funding from WTC gives us a chance to initiate this joint development and prepares us for long term collaboration with Modumetal. The need for corrosion resistant coatings is widespread and the proposed solution that we will be exploring with Modumetal has the potential to impact a broad range of industries."

    Modumetal expects that successful application of this technology will lead to many opportunities in the $300 million corrosion-prevention market.

    The $5,000 award for this project comes from an Entrepreneur's Access grant from Washington Technology Center (WTC). WTC competitively awards around $1 million in state funding annually for research and technology development projects. State funding enables collaboration between companies and non-profit research institutions on technology projects that show strong potential for commercializing products and creating jobs. Since 1996, the state has funded 330 research and technology development projects.

    "This grant is a great example of state government at its best," said Washington State Representative Jamie Pedersen (D-Seattle). "The seed money from WTC, combined with world-class research facilities at the University of Washington and the innovative entrepreneurs at Modumetal, will create jobs and help the state maintain its lead in technology."

    More information about the research and technology development program is available online at http://www.watechcenter.org/rtd.

    About Modumetal, Inc.
    Modumetal (www.modumetal.com) was co-founded in 2006 in Seattle, WA to realize the commercial potential of a unique class of advanced materials. Modumetal is creating revolutionary nanolaminated and functionally-graded materials that will change design and manufacturing forever by dramatically improving the structural, corrosion and high temperature performance of coatings, bulk materials and parts. Modumetal represents a whole new way of producing parts and is leveraging nanotechnology to achieve this unprecedented performance. Modumetal is made by a "green" electrochemical manufacturing approach, which reduces the carbon footprint of conventional metals manufacturing at the same time that it redefines materials performance.

    About Washington Technology Center
    Washington Technology Center is a statewide economic development organization focused on technology and innovation. We spark ideas, form connections between people and resources, and foster job growth to position Washington state as a national technology leader. As an organization, Washington Technology Center channels state, federal, and private resources to help companies develop and commercialize new products and technologies. Our 15,000-square-foot Microfabrication Laboratory provides companies and university researchers access to facilities and specialized equipment for micro-electromechanical systems (MEMS) research and product/process development. The impact of Washington Technology Center's work has generated more than $600 million in additional investment for Washington companies and researchers. For more information how Washington Technology Center can help research and development projects succeed, visit www.watechcenter.org or call 206-685-1920.

    ###

    Related WTC links:

  • Modumetal is a WTC client

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    Notes from the Angel Capital Association Summit 2009

    The Angel Capital Association Summit 2009, held April 15-17 in Atlanta, highlighted current statistics and trends in early-stage investing. WTC Angel Network Manager Elaine Kong attended the conference and filed these notes.

    Investment Trends
  • Currently, there are about 300 angel groups in the US.
  • In 2008, each angel group:
    • Made an average of 6.3 investments;
    • Invested an average of $1.77M;
    • Invested an average of $277K per round;
    • Invested in an average of 3.7 new companies.
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  • In 2008, 62.7% had follow-on or co-investments with VC firms and 23.4% had 1 or more positive exits.
  • Major trends: A survey conducted in March 2009 indicated:
    • 40% of angels believe that deals and dollars will be down in 2009.
    • Over 53% will be involved in co-investments with other angels or angel groups.
  • Investment preference (in order of decreasing preference):
    • Medical Devices and Equipment
    • Software
    • Biotechnology
    • IT Services
    • Energy
    • Business Products and Services
    Alternative Means of Exit
  • Secondary markets: Funds that focus on acquiring direct investments, portfolios of investments, and limited partnership interests in VC.
  • Provide new path to liquidity: Take some chips off the table; lock in return; use proceeds to back new investments; and possible participation in future upside.
  • Secondary markets have ballooned from $3B in 2007 to $5.7B in 2008.

    Bridge Notes
  • Company has a signed term sheet, but does not close soon enough. Lead investor proposes bridge note. Important to give lead investor significant position so that incentives are aligned between lead, bridge note holders and company. This way, it incentivizes next round investors to honor bridge note terms.
  • Most often, bridge note is used in the following situation: Company requires cash but has no lead investor or term sheet for next round. Therefore, company and some existing investors agree on a bridge note to fund company until next round investors are found. Usually, the note is structured with interest plus a price discount on next round or warrants. Problem with this is that the note is an agreement between company and some existing investors; however, note terms is applied to the next round led by a third party. Some of the remedies include: specifying that bridge note share price discount paid via dilution of existing shareholders; separating note or veto power on any terms changes; prohibiting company from accepting term sheet that eliminates share price discount.
  • Standard terms to consider in all bridge notes:
    • Participation rights in next round
    • Approval of any additional debt
    • Premium if company is acquired
    • Resolution if cash not raised by note due date
    Angel Group Management and Compensation
  • Management Activities:
    • Member recruitment
    • Communication with members
    • Investment Activities: fund raising, deal flow, deal negotiations
    • Portfolio Management
    • Relationships with service providers
  • Management compensation: Average direct pay of $75K (can be up to $150K), some receive portion of carried interest.
  • Form of compensation: Salary, benefits, bonus, and performance-based compensation.

    Public Policy
  • Stimulus Bill – New 75% exclusion of capital gains for qualified small business stock held more than five years and purchased between 2.17.09 and 12.31.10.
  • House Proposed Legislation – SBA Office of Angel Investing $50M over 3 years
  • Administration Budget Proposal - $2B to mach seed funds and angel group investments
  • State Programs – Over 30 states support angel investing. It is coined the most cost effective economic development dollar spent. State tax credits: 20% - 100%. Co-investment funds $1M - $8M. There are also education and administration grants as well as technology councils and economic development structures supporting angel activities.

    Syndication
  • Co-investment is the most prominent trend amongst angel groups. Most angels prefer to co-invest with other angels or angel groups over co-investments with VCs.
  • WTC’s regional co-investment call is featured in the ACA published syndication guide as a model to follow. The Pacific Northwest is recognized as one of the leaders in co-investment.
  • The ACA Collaboration Committee (in which Elaine Kong is a member) is testing out nationwide syndication by selecting and presenting four companies at the ACA Summit. The Collaboration Committee will reconvene in June to analyze interests and results.

    Related external links (will open a new window):

  • Expert: Venture capital will focus on cleantech
    Bizjournals.com - Apr 17, 2009
  • Berkus details 'Age of Recommendation'
    Bizjournals.com - Apr 17, 2009
  • Visit the Angel Capital Association Web site

    Related WTC links:

  • Angel investing declined 10 percent in 2008

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    Life Sciences Discovery Fund opens 2009 summer commercialization grant competition

    LSDF plans to award up to $750,000 in its 2009 Summer Commercialization Grants Competition. Individual awards will be up to $150,000 in total costs, with work expected to be completed within one year. A required pre-proposal is due Wednesday, July 15, 2009.

    According to the LSDF announcement, grants will fund research and development of new technologies to reduce the risk associated with their commercialization. This work, often referred to as "prototype development," or "proof of principle" or "reduction to practice" experimentation is supported by LSDF to improve health and health care and to foster economic development within Washington state. Full proposals are due on Wednesday, September 9 and awards will be announced in mid December.

    Related external links (will open a new window):

  • Learn more at the Life Sciences Discovery Fund

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    Seattle Chamber: Focus On Attracting Angel Investors - May 7, 2009

    Attracting angel investments requires a good understanding of what these unique investors are looking for. Learn to stand out from the startup masses at May's Focus On.

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    Seattle Chamber: Focus On Attracting Angel Investors - May 7, 2009

    Date(s): May 7, 2009 (Thursday)
    Time: 12:00 PM to 1:30 PM
    Location: One Union Square Boardroom (600 University St.Seattle 98101)
    URL: http://list.seattlechamber.com/t/5506/168216/2189/0/
    Description: Attracting Angel Investors

    Attracting angel investments requires a good understanding of what these unique investors are looking for. Learn to stand out from the startup masses at May's Focus On. Join us as Glenn Gregory of Obsidian Investment Advisors helps small businesses de-mystify the processes of angel investing and gaining startup capital.

    Focus On: Attracting Angel Investors
    Presented by Glenn Gregory
    Date: Thursday, May 7
    Time: Noon - 1:30 p.m.
    Place: One Union Square Boardroom (600 University St.Seattle 98101)
    Cost: $20 ($25 after 5/5; lunch provided)
    Register: Online or contact Nikki Ross at nikkir@seattlechamber.com or 206.389.7338.

    About the presenter:
    Glenn Gregory is principal of Obsidian Investment Advisors, a registered investment advisory firm he founded in 1998. Obsidian has the distinction of being one of only two African-American owned registered investment advisory firms in Washington State. Gregory is highly respected for his financial acumen, business ethics and depth of knowledge. Prior to Obsidian, Gregory worked in international business developmet, traveling the globe structuring joint ventures and turning-around several underperforming divisions. His international business management experience includes, operations and finance, working with British Petroleum, Delphi Automotive Systems, and Microsoft Corporation.

    Contact: Nikki Ross
    206.389.7338
    nikkir@seattlechamber.com

    Related external links (will open a new window):

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    Washington State Energy Summit - May 4, 2009

    Play your part in shaping Washington's clean energy economy. The American Recovery and Reinvestment Act (ARRA) offers an unprecedented opportunity to use federal "stimulus" funds to advance our state's transition to a new clean energy economy.

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    Date(s): May 4, 2009 (Monday)
    Time: 7:30 AM to 6:00 PM
    Location: Washington State Convention & Trade Center - Seattle, Washington
    URL: http://wastateenergysummit2009.eventbrite.com/

    Description:

    Join your fellow business and community leaders from around the state to learn the latest about Recovery Act funding for clean energy programs.

    Keynote speakers include:
    • Chris Gregoire, Governor, State of Washington
    • Matt Rogers, Senior Advisor, U.S. Department of Energy (invited)
    • Rogers Weed, Director, Washington State Department of Community, Trade & Economic Development

    Highlights of the full-day Washington State Energy Summit include:
    • Up-to-date information on funding sources and federal guidance
    • Networking and matchmaking opportunities for prospective competitive grant proposal partners
    • First look at the draft State Energy Program (SEP) funding plan that will invest over $60 million in state and local projects for the next two years

    Who should attend? Businesses interested in applying for federal clean energy funds, policy makers, and non-governmental organizations who want to know how the state can use ARRA dollars as a catalyst for the transition to a clean energy economy.

    Contact: Linda Alongi
    360.725.4031
    lindaa@cted.wa.gov

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    EnerG2 CEO offers venture capital advice in CNNMoney article

    CEO Rick Luebbe of EnerG2, a Seattle-based startup in the energy storage market, and nine other CEOs and venture capitalists offer advice on attracting venture funding in a recent CNNMoney article. EnerG2 raised $8.5 million from OVP Venture Partners and others for its nanoscale energy storage technology.

    Related external links (will open a new window):

  • The venture game: What investors want
    CNNMoney.com - USA - April 15, 2009
  • 10 steps to catch VC cash
    CNNMoney.com - USA - April 15, 2009

    Related WTC links:

  • EnerG2 is a WTC client
  • EnerG2 raises $8.5 M in financing round

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    2009 NIST Technology R&D Competition to Address Civil Infrastructure, Manufacturing

    The National Institute of Standards and Technology (NIST) announced a 2009 competition for multiyear research funding in two major areas of national interest, civil infrastructure and manufacturing, under its Technology Innovation Program (TIP). TIP expects to provide $15 million in cost-shared funding for approximately 25 new R&D; projects.

    TIP promotes technological innovation by providing funding support to challenging, high-risk research projects that address critical national needs. The merit-based, competitive program can fund R&D; projects by single small-sized or medium-sized businesses or by joint ventures that also may include institutions of higher education, nonprofit research organizations and national laboratories. The 2009 TIP competition is open to projects developing new technologies for the practical application of advanced materials, including nanomaterials, advanced alloys and composites, in manufacturing; and the monitoring or retrofit of major public infrastructure systems, including water systems, dams and levees, and bridges, roads and highways.

    Related external links (will open a new window):

  • NIST TIP Web site

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    NWEN April Venture Breakfast: How To Market Your Company in a Down Economy -- April 10, 2009

    Therese Adlhoch Smith of The Adlhoch Group will show you how to grow your business by stretching your marketing dollars and focusing on the most important tools and programs. She will also share the 7 marketing essentials for survival.

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    Date(s): April 10, 2009 (Friday)
    Time: 7:00 AM to 9:00 AM
    Location: Bellevue Harbor Club
    URL: http://www.nwen.org/index.php?option=com_events&Itemid;=15&id;=177
    Description:

    Cost:
    Regular Registration: $25 for members, $40 for non-members.
    After April 6: $30 for members, $45 for non-members
    Members, bring a friend at 50% off!

    What You Will Learn:
    When times are tough, often the first thing to go is the marketing budget even though it’s difficult to build your business without marketing. What can you do to survive and thrive in a down economy? Therese Adlhoch Smith of The Adlhoch Group will show you how to grow your business by stretching your marketing dollars and focusing on the most important tools and programs. She will present the results of The Adlhoch Group’s 2009 survey of start-up CEOs and small business owners, “Front Line Advice to Weather the Storm.” You’ll learn from executives and entrepreneurs who have survived tough times, gaining their candid perspectives on what they’ve done right and what they’d do differently. She will also share the 7 marketing essentials for survival.

    Therese Adlhoch Smith
    Therese Adlhoch Smith is a marketing specialist with an extensive background in product management, marketing communications and business analysis. With more than 17 years of experience helping companies develop products and metrics-driven marketing programs, she has worked in a variety of industries including B2B e-commerce, telecommunications, electronic discovery, biotechnology, marine science, health technology, stock photography, consumer finance, online consumer services and consumer multimedia.

    Therese founded The Adlhoch Group, LLC after holding vice president and director of marketing positions with a number of public and privately held Northwest businesses. She has hands-on expertise in market analysis, product planning and national marketing programs for early-stage and established businesses. Therese holds a Master of Business Administration in marketing and international business from the University of Washington, and a Bachelor of Science in finance, summa cum laude, from California State University, Northridge.

    Join us on April 10 to hear Therese Adlhoch Smith discuss marketing strategies to survive and thrive in a down economy. Please register today to ensure a seat, as this Venture Breakfast promises to be one you won't want to miss!

    About the Northwest Entrepreneur Network
    The Northwest Entrepreneur Network, with nearly 900 members, is a nonprofit, professional association dedicated to helping entrepreneurs accelerate the growth of their companies. In addition to its monthly Venture Breakfasts, the Network provides educational programs, networking events, opportunities for “face time,” and tools and resources entrepreneurs can use to help their businesses grow and prosper. For more information about the Northwest Entrepreneur Network, call (425) 564-4074 or visit www.nwen.org.

    Contact: Northwest Entrepreneur Network
    425-564-5701
    info@nwen.org

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    WTC research funding applications due April 23

    Are you working on innovative technology applications with near-term commercial potential? Consider applying for a Washington Technology Center grant to offset the costs of your R&D.; Applications are due April 23.

    www.watechcenter.org/rtd

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    Washington Technology Center awards hundreds of thousands of dollars in funding to Washington-based research teams in an effort to help transition great ideas out of the laboratory and into the marketplace.

    If you are a Washington technology business looking to partner with an academic or non-profit researcher on a collaborative research endeavor, you may be eligible for a funding award through Washington Technology Center's Research & Technology Development (RTD) grants program.

    These awards help Washington companies grow faster, create jobs and attract investors by providing the critical funding needed to advance scientific research and product development.

    RTD awards pay up to 80% of the cost of research projects -- allowing you to channel your capital to other business growth needs or continue working on breakthrough scientific discoveries. Project teams are eligible to receive up to $100,000 for initial proof-of-concept projects and up to $300,000 total for multi-phase projects.

    Washington Technology Center allocates $1 million annually for these grants, which are awarded on a competitive basis to collaborative research teams working on innovative technology projects with strong commercial potential.

    Washington Technology Center is now accepting proposals for its next round of grants which will be awarded in June. Projects begin July 1. But hurry, applications are due April 23.

    Free informational meetings are held throughout Washington state each year.

    For more information about the RTD Grants Program, visit http://www.watechcenter.org/rtd. Here you will find everything from Eligibility Criteria to Downloadable Proposal Materials. Or, for additional information, please contact Russell Paez, 206.616.3102, rpaez@watechcenter.org.

    More than 300 companies have benefited from the RTD grant program. You could be next.

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    SBIR cost proposal and government accounting workshops in Seattle March 31 and Vancouver, WA April 1

    Washington Technology Center presents a workshop featuring Jim Greenwood of Greenwood Consulting Group, well-known SBIR/STTR consultants. The session focuses on the cost proposal and accounting for SBIR and STTR awards. It covers basic terms and concepts including direct versus indirect rates, allowable and unallowable costs, cost proposal format variations between Federal agencies, and includes an exercise to estimate the indirect/facilities & administrative rate for your business. The workshop will be offered in the Seattle area March 31 and at Washington State University Vancouver April 1.

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    Who should attend: CEOs, CFOs, CTOs; Researchers, Universities' Office of Grants & Sponsored Research; CPAs & Yellow Book Auditors

    Extra Feature: Pre-registered attendees are eligible for indirect rate calculation review or SBIR / STTR cost proposal critique from Greenwood Consulting Group within one year of attendance. Limited number of consultations available.

    Fee: $75 for pre-registrations by 3/27; $85 at the door. Event includes continental breakfast and box lunch.

    Questions: contact Suzanne Mitchell at (509) 372-5146.

    Locations:

    March 31, 2009
    Lynnwood Convention Center
    3711 196th Street SW
    Lynnwood, WA 98036
    Get directions from Google Maps
    Register for this location

    April 1, 2009
    Washington State University Vancouver
    Firstenburg Student Commons
    14204 NE Salmon Creek Avenue
    Vancouver, WA 98686
    Get directions from Google Maps
    Register for this location

    Agenda:
    7:30am - Continental breakfast; on-site registration; Welcome & Introductions
    8:00 - Government Accounting Concepts, FAR, Cost Proposal Format
    Tracking Expense & Estimating Costs; Cost Proposal formats of different
    SBIR / STTR Agencies
    12:00pm - Working Lunch - box lunch provided for pre-registered attendees
    12:30 - Exercise: preparing basic Phase I SBIR Cost proposal
    2:00pm - Workshop close; Questions; Networking

    Related external links (will open a new window):

  • Register for the Seattle area workshop
  • Register for the WSU Vancouver workshop

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    Carbon Nanoprobes recognized at Zino Society's Life Sciences Investment Forum

    Carbon Nanoprobes, a startup company developing high-resolution probes for atomic force microscopy, won a prize for best investment opportunity at the Zino Society's first Life Sciences Investment Forum held in Seattle February 24, 2009. The company, which had teamed with UW researchers to develop its technology, recently relocated from Seattle to Pennsylvania. An article at Xconomy tells more about the Zino Society event.

    Related external links (will open a new window):

  • Read more at Xconomy

    Related WTC links:

  • Carbon Nanoprobes is a WTC client

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    Alliance of Angels 10-Minute Pitch Clinic - March 3, 2009

    Date(s): March 3, 2009 (Tuesday)
    Time: 1:45 PM to 5:00 PM
    Location: 1301 5th Avenue, Suite 2500 Seattle, WA 98101
    URL: http://www.allianceofangels.com/index.html

    Description: The Alliance of Angels 10 Minute Pitch Clinic is an educational event tailored specifically to entrepreneurs on how to effectively pitch a startup business plan to angel investors. The clinic includes an overview of Alliance of Angels rigorous four-step process, in-depth review of the components of a good pitch, and, an interactive workshop setting in which the Program Managers will both answer questions and work with participants on their specific messaging.

    Contact: Amy Rousso
    206-389-7261
    amy@technology-alliance.com

    Related external links (will open a new window):

  • Registration

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    Funding opportunity: Dept. of Energy

    Opportunity title: 20% Wind by 2030: Overcoming the Challenges. This program provides funding that would focus on near- to medium-term actions to significantly accelerate use of wind energy technologies. A total of $8 million is available for an estimated 29 awards. Applications are due March 3, 2009.

    Related external links (will open a new window):

  • View the opportunity at the Dept. of Energy

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    Washington venture capital data

    A MoneyTree Report by PricewaterhouseCoopers and the National Venture Capital Association (NVCA) shows U.S. venture capital investments declined in 2008, the first yearly decline since 2003. The State Science and Technology Institute (SSTI) maintains a Venture Capital Dashboard that gives a state-by-state breakdown of data from the report.

    Related external links (will open a new window):

  • Read more at SSTI
  • SSTI's Venture Capital Dashboard - WA venture capital summary
  • SSTI's Venture Capital Dashboard - WA investment by stage

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    nLIGHT adds $10.7 million in growth capital

    nLIGHT Corporation (nLIGHT), the emerging leader of high-power semiconductor lasers, announced that it has received $10.7 million in the first closing of a new equity financing. nLIGHT will use the new growth capital to drive continued product development of integrated laser modules and increase sales in its core industrial, defense, and medical markets. Continued investment came from existing venture investors Oak Investment Partners, Mohr Davidow Ventures and Menlo Ventures.

    Related external links (will open a new window):

  • Read the nLIGHT press release

    Related WTC links:

  • nLIGHT is a WTC client

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    NWEN First Look Forum - March 24, 2009

    Don’t miss this premier opportunity to present your early stage company to a forum of qualified angel investors.

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    Date(s): March 24, 2009 (Tuesday)
    Time: 1:00 PM to 6:30 PM
    Location: The Big Picture Seattle
    URL: http://www.nwen.org/index.php?option=com_events&Itemid;=15&id;=201
    Description: Magnify your opportunities -- first impressions count!
    Apply by February 6 to make your pitch at NWEN’s inaugural First Look Forum.

    Don’t miss this premier opportunity to present your early stage company to a forum of qualified angel investors. Gain the practice, visibility and connections you need to make a great first impression and get a clear understanding on how to move your business forward.

    NWEN’s First Look Forums provide the next generation of emerging Northwest companies with the opportunity to pitch their business ideas to, and network with, an audience of the region’s top angels.

    NWEN is inviting applications from entrepreneurs in every product and service segment. A maximum of a dozen startups will be selected per forum, provided intensive coaching by a team of seasoned investors, and given the opportunity to present to a room of close to 100 angels.

    There are currently two forums planned for 2009, with the first scheduled for March 24. The application deadline to be considered for the March forum is Friday, February 6. Spots are limited, so entrepreneurs wishing to present should apply now.

    There is a $45 Application Fee for NWEN members, $90 for non-members. The Presenter Fee for those selected is $175 for NWEN members, $275 for non-members. All Presenters receive a complimentary copy of the Puget Sound Business Journal’s Book of Lists (valued at $60) and an annual membership with Passport Unlimited (valued at $130).

    Who should apply:
    The First Look Forums are targeted at early stage entrepreneurs who haven’t previously presented and are in the pre-funding stage of their trajectory. If you have a business plan that is differentiated, that you are able to articulate, then this forum is for you.

    Entrepreneurs should be ready to:
    • Work through the investor presentation process
    • Connect with the people you need to know
    • Receive structured feedback and advice from experienced entrepreneurs and angels with
    operating experience to shape your pitch and business proposition
    • Present to an audience of early stage investors who are there to take a “First Look” at you

    Forum format:
    The half day forums will be held in a single track. Twelve companies will be selected to give their three minute pitches. The audience will then vote to determine the top five companies. These five companies will then make their 15 minute business plan presentations.

    The winning presenter from the forum will receive a prize package including offerings from Swift HR Solutions, Microsoft BizSpark, Puget Sound Business Journal, Keiretsu Forum, and Zino Society, in addition to incredibly valuable contacts, advice and connections. And maybe, just maybe, one or more will end up with a relationship that will help take their idea and their company to the next level.

    Key dates:
    February 6: Deadline for applying to present at the March 24 Forum
    February 23-27: Initial presentation and review to screening committee and coaches
    March 9: Announcement of 12 presenting companies
    March 10-17: Presenters meet with coaches
    March 24: First Look Forum

    If you’re an entrepreneur looking for relationships with and feedback from experienced angel investors there’s no better opportunity than NWEN’s First Look Forums.

    Contact: Northwest Entrepreneur Network
    425-564-5701
    info@nwen.org

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    Washington Technology Center Awards $485,261 in Research Funding

    Washington Technology Center awarded research and technology development funding totaling $485,261 to seven* projects developed between companies and Washington researchers.

    Companies with winning projects for January 2009 are: Applied Precision, of Issaquah; ATS, of Silverdale; The Boeing Company and HEATCON® Composite Systems, of Seattle; Enertechnix, of Maple Valley; GeoMonkey, Inc., of Vancouver; Omeros Corporation, of Seattle; and Theo Chocolate, Inc., of Seattle. Winning proposals described innovative research in computer systems and microelectronics, advanced materials and manufacturing, food safety and quality, and biotechnology and biomedical devices.

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    "Washington’s success in research and development is known globally," said Washington Governor Chris Gregoire in support of this round of award winners. "And the bold innovations created by these companies will help keep Washington’s economy robust. Congratulations to each of you."

    Washington Technology Center competitively awards around $1 million in state funding annually as part of the Research and Technology Development Grant Program. State funding enables collaboration between companies and non-profit research institutions on technology projects that show strong potential for commercializing products and creating jobs. Since 1996, the state has funded 329 Research and Technology Development projects.

    Each project team is comprised of a Washington company partner and a researcher from a university or research nonprofit in the state. The company defines the research challenge and provides access to the commercial market. The university or nonprofit researcher executes the research with funding from both Washington Technology Center and the company partner.

    This round of projects addresses a wide range of innovation:

    Applied Precision, Inc., an Issaquah-based manufacturer of biomedical imaging systems, is collaborating with the University of Washington’s School of Medicine to commercialize a microfluidic imaging technology for biomedical applications. UW will receive $95,215 in Phase I research and technology development funding from Washington Technology Center and $22,500 from Applied Precision for the project. More

    ATS, a Silverdale-based provider of intelligent search software and services, is working with Washington State University’s School of Electrical Engineering and Computer Science to develop data merging algorithms. WSU will receive $50,000 in Phase II research and technology development funding from Washington Technology Center and $17,500 from ATS for the project. More

    The Boeing Company’s Research & Technology group and HEATCON® Composite Systems, a Seattle-based composite repair equipment supplier, are collaborating with the University of Washington’s Mechanical Engineering Department to improve the efficiency of composite-structural repairs. UW will receive $75,190 in Phase I research and technology development funding from Washington Technology Center and $20,000 from The Boeing Company for the project. More

    Enertechnix, a Maple Valley-based manufacturer of high-temperature imaging systems, is collaborating with the University of Washington’s Department of Electrical Engineering to develop algorithms to control the cleaning of heat-transfer surfaces in industrial processes. UW will receive $100,000 in Phase I research and technology development funding from Washington Technology Center and $20,000 from Enertechnix for the project. More

    GeoMonkey (doing business as MapWith.Us), a Vancouver-based developer of mapping software, is collaborating with WSU Vancouver’s School of Engineering and Computer Science to develop a framework for publishing geo-spatial data generated from consumer mobile communication devices. WSU Vancouver will receive $35,582 in Phase I research and technology development funding from Washington Technology Center and $8,092 from GeoMonkey for the project. More

    Omeros Corporation, a Seattle-based biopharmaceutical company, is working with the University of Washington’s Department of Bioengineering to develop a new drug delivery platform for applications in medical imaging and cancer therapy. UW will receive $99,274 in Phase II research and technology development funding from Washington Technology Center and $34,746 from Omeros Corporation for the project. More

    Theo Chocolate, Inc., a Seattle-based manufacturer of artisan chocolates and confections, is collaborating with the University of Washington’s Department of Chemistry to develop food-safety and quality-analysis technology. UW will receive $30,000 in Phase I research and technology development funding from Washington Technology Center and $6,000 from Theo Chocolate for the project. More

    This round of funding is anticipated to generate more than 350 full-time technology jobs in Washington during the next five years. Washington Technology Center estimates that through its work with entrepreneurs, more than 7,000 new technology jobs have been created in Washington state, many of these from award recipients. New project funding is awarded twice annually.

    Annual follow-up surveys show that the Research and Technology Development Grant Program has helped Washington companies transition novel technologies into commercially-viable ventures.

    Proposals for the next round of funding are due April 23, 2009. More information about the Research and Technology Development Grant Program is available online at http://www.watechcenter.org/rtd.

    * (Update 2/10/09: an eighth project -- Greenwood Technologies -- has been canceled)

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    Omeros awarded $465,000 grant for Parkinson's research

    Omeros Corporation, a Seattle-based biopharmaceutical company, has been awarded a $465,000 grant from The Michael J. Fox Foundation to evaluate Omeros' recent dicovery of a new target for the treatment of Parkinson's disease.

    Related external links (will open a new window):

  • Read the press release from Omeros

    Related WTC links:

  • Omeros is a WTC client

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    Research Funding Available from Washington Technology Center

    Are you working on innovative technology applications with near-term commercial potential? Consider applying for a Washington Technology Center grant to offset the costs of your R&D.; Notice of intent due March 19, application due April 23.

    www.watechcenter.org/rtd

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    Washington Technology Center awards hundreds of thousands of dollars in funding to Washington-based research teams in an effort to help transition great ideas out of the laboratory and into the marketplace.

    If you are a Washington technology business looking to partner with an academic or non-profit researcher on a collaborative research endeavor, you may be eligible for a funding award through Washington Technology Center's Research & Technology Development (RTD) grants program.

    These awards help Washington companies grow faster, create jobs and attract investors by providing the critical funding needed to advance scientific research and product development.

    RTD awards pay up to 80% of the cost of research projects -- allowing you to channel your capital to other business growth needs or continue working on breakthrough scientific discoveries. Project teams are eligible to receive up to $100,000 for initial proof-of-concept projects and up to $300,000 total for multi-phase projects.

    Washington Technology Center allocates $1 million annually for these grants, which are awarded on a competitive basis to collaborative research teams working on innovative technology projects with strong commercial potential.

    Washington Technology Center is now accepting proposals for its next round of grants which will be awarded in June. Projects begin July 1. But hurry, application deadlines are drawing near. Notice of Intent deadline is March 19 and applications are due April 23.

    Free informational meetings are held throughout Washington state each year.

    For more information about the RTD Grants Program, visit http://www.watechcenter.org/rtd. Here you will find everything from Eligibility Criteria to Downloadable Proposal Materials. Or, for additional information, please contact Russell Paez, 206.616.3102, rpaez@watechcenter.org.

    More than 300 companies have benefited from the RTD grant program. You could be next.

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    3TIER receives $10M in venture funding

    The venture funding will help Seattle-based 3TIER open offices in Europe and Asia and expand globally its forecasting and assessment products and services for weather-driven renewable energy resources (wind, hydro and solar power).

    Related external links (will open a new window):

  • More in TechFlash

    Related WTC links:

  • 3TIER is a WTC client

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    Angel investing declined 10 percent in 2008

    Angel group leaders report in a recent survey by the Angel Capital Association (ACA) that investments decreased in 2008 and will decline as well in 2009 compared to 2007 due to the current recession. However, some angel groups have increased their investment activity this year and believe they will make additional investments in 2009 as new opportunities arise from difficult economic conditions.

    Related external links (will open a new window):

  • Read the ACA press release

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    Life Sciences Discovery Fund Announces 2009 Grant Competition

    The LSDF funding opportunities and amounts include a project grant competition of up to $8 million in total awards, a program grant competition of up to $20 million in total awards and, new in 2009, two commercialization grant competitions of up to $750,000 per round.

    Related external links (will open a new window):

  • Visit the Life Sciences Discovery Fund site

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    EnerG2 raises $8.5 M in financing round

    EnerG2, a Seattle-based startup in the energy storage market, announced the company has raised $8.5 million in a Series A financing round led by OVP Venture Partners of Kirkland and Firelake Capital Management of Palo Alto, California. EnerG2 uses University of Washington technology to create ultracapacitors which store and release more energy faster than conventional batteries.

    Related external links (will open a new window):

  • More in the EnerG2 press release
  • More in TechFlash
  • More in Xconomy
  • More in Seattle Times

    Related WTC links:

  • EnerG2 is a WTC client

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    Washington entrepreneurs share tips for start-up success

    Scott Keeney of Vancouver's nLIGHT, Christina Lomasney of Seattle start-up Modumetal, Gerry Langeler of Kirkland's OVP Venture Partners, and Carolyn Brennan of University of Washington Bothell discuss how to get traction in the marketplace in an article from The Columbian.

    Read the article from The Columbian

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    Research funding proposals due Oct. 23, 2008; next round of proposals due April 23, 2009

    WTC competitively awards around $1 million annually to applied research projects that show strong potential for generating long-term economic impact in Washington state.

    Related WTC links:

  • Read more

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    SBIR proposal writing workshop on October 31, 2008

    Washington Technology Center presents an SBIR (Small Business Innovation Research) Program for Technology Entrepreneurs seminar on October 31, 2008 at the University of Washington Bothell campus.

    Related WTC links:

  • Read more

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  • Washington Technology Center awards $512,269 in research funding

    Seven company-researcher projects have been awarded state funding for the development of innovative commercial technology applications.

    Related WTC links:

  • Read more

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  • Proposals for research and technology development funding due Oct. 23, 2008

    WTC competitively awards around $1 million annually to applied research projects that show strong potential for generating long-term economic impact in Washington state.

    Related WTC links:

  • Read more

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  • WTC supports the Angel Groups Co-investment Initiative

    An article by the Angel Capital Education Foundation highlights activities of the Co-investment Initiative that are leading to Canadian-US deals.

    Related external links (will open a new window):

  • Read more at the Angel Capital Education Foundation

    Related WTC links:

  • Visit the WTC Angel Network

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  • Insitu wins $24M contract for unmanned aircraft

    A marketing alliance with Boeing has helped Bingen-based Insitu access defense markets for its unmanned aerial vehicles.

    Related external links (will open a new window):

  • Read more in the Puget Sound Business Journal

    Related WTC links:

  • Insitu is a WTC client

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  • New federal funding for monitoring, inspection technologies for public infrastructure

    The Commerce Department's National Institute of Standards and Technology (NIST) announced that it is seeking proposals for high-risk research projects to develop innovative technologies for inspecting, monitoring and evaluating critical components of the nation's roadways, bridges, and drinking and wastewater systems. Proposals due Sept. 4, 2008. There will be a proposer's conference in Portland, Ore. on July 17.

    Related external links (will open a new window):

  • Read more at www.nist.gov/tip

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  • Research funding proposals due April 24, 2008

    Washington Technology Center competitively awards around $1 million annually to applied research projects that show strong potential for generating long-term economic impact in Washington state.

    Related WTC links:

  • Learn more

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  • Angel Investing: Valuation and Portfolio Strategies Workshop in Bellevue on April 14, 2008

    Valuation of pre-revenue companies is one of the most critical issues in the angel investment process, and for angels, valuation and portfolio strategy are linked. This 4-hour workshop is for angel investors, entrepreneurs and entrepreneurial support professionals.

    Related WTC links:

  • Read more

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  • Washington Technology Center awards $528,978 in research funding

    Eight company-researcher projects have been awarded state funding for the development of innovative commercial technology applications. Companies with winning projects for January 2008 are: ATS Intelligent Discovery, of Silverdale; Columbia PhytoTechnology, LLC, of Carson; Efficere Technologies, Inc., of Vancouver; Greenwood Technologies, of Bellevue; Infometrix, Inc., of Bothell; Insilicos, of Seattle; nLight Photonics, of Vancouver; and Omeros Corporation, of Seattle.

    Related WTC links:

  • Learn more

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  • Research funding proposals due Oct. 18, 2007. Next round of proposals due Apr. 24, 2008

    Washington Technology Center competitively awards around $1 million annually to applied research projects that show strong potential for generating long-term economic impact in Washington state.

    Related WTC links:

  • Learn more about the Research and Technology Development program

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  • Life Sciences Discovery Fund selects six awardees in inaugural grant round

    UW researcher Daniel Chiu — a Washington Technology Center past award winner — is among the winning researchers proposing novel uses of technology to improve health care.

    Related external links (will open a new window):

  • Read the Life Sciences Discovery Fund press release

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  • Greenwood Technologies secures $3 million in venture capital

    Greenwood Technologies received a $3 million investment from Copia Associates, a venture capital firm in San Ramon, Calif.

    With research and technology development funding from Washington Technology Center, Greenwood Technologies and UW researcher John Kramlich are developing a low-emission combustion system for Greenwood's wood-fired furnace.

    Related external links (will open a new window):

  • More in the Seattle P-I

    Related WTC links:

  • Greenwood Technologies is a WTC client

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  • Washington Technology Center awards $499,938 in research funding

    Five companies are awarded state funding for innovative commercial technology applications developed in partnership with Washington researchers.

    Grant winners for July 2007 are Artemisia BioMedical, Inc., of Newcastle; dTEC Systems, LLC, of Seattle; Hummingbird Scientific, of Lacey; Kronos Air Technologies, of Redmond; and Magic Wheels, of Seattle. Winning proposals outlined breakthrough research in biotechnology, materials science, defense and security, and microelectronics.

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    "Washington's economy is driven by creativity and innovation," said Washington Governor Chris Gregoire in support of this year's award winners. "And these companies are at the forefront of our effort to build the next Washington. Congratulations to each of you."

    Washington Technology Center competitively awards around $1 million in state funding annually as part of the Research and Technology Development program. State funding enables collaboration between companies and non-profit research institutions on technology projects that show strong potential for commercializing products and creating jobs. Since 1996, the state has funded 309 Research and Technology Development projects.

    This round of funding is projected to generate more than 200 full-time technology jobs in Washington during the next five years. Washington Technology Center estimates that through its work with entrepreneurs, more than 7,000 new technology jobs have been created in Washington state, many of these from grant award recipients. New project funding is awarded twice annually.

    This round of projects addresses a wide range of innovation:

    Artemisia BioMedical, a privately-held biotechnology company based in Newcastle, Washington, has teamed with University of Washington researchers Tomikazu Sasaki, Narendra Singh and Henry Lai to develop improved therapeutic treatment options for cancer and other serious diseases. Research and Technology Development funding: $100,000.

    Seattle-based dTEC Systems, a developer of environmental monitoring systems, has teamed with University of Washington Chemical Engineering researcher Samson A. Jenekhe to develop a novel low-cost chemical sensor technology for on-site environmental applications. Research and Technology Development funding: $100,000.

    Hummingbird Scientific, a Lacey, Washington-based developer of microscopy solutions, has teamed with University of Washington electrical engineering researcher Karl Böhringer to develop an improved high temperature heating element for use in the transmission electron microscope – a development that will lead to scientific advancements across a range of scientific fields. Research and Technology Development funding: $100,000.

    Kronos Air Technologies, a Redmond-based developer of air movement and purification products, has teamed with University of Washington electrical engineering researcher Alexander V. Mamishev to develop a novel, energy-efficient electrostatic air pump that addresses the problem of thermal management in microelectronics. Research and Technology Development funding: $100,000.

    MagicWheels Inc., a Seattle-based maker of a patented, two-gear manual wheelchair wheel, has teamed with University of Washington materials science and engineering researcher Brian Flinn to provide mechanical, endurance and environmental testing for a cost-effective wheel manufacturing process that will benefit wheelchair users. Research and Technology Development funding: $99,938.

    Washington Technology Center’s Research and Technology Development grants have proved effective in helping Washington companies and researchers transition novel technologies from “good ideas” into commercially-viable ventures. Annual follow-up surveys show that assisted companies have been successful in leveraging these grants into more than $400 million in additional funding.

    Related WTC links:

  • Research and Technology Development program

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  • Proposals for Research and Technology Development funding due Oct. 18, 2007

    WTC competitively awards around $1 million annually to applied research projects that show strong potential for generating long-term economic impact in Washington state.

    Related WTC links:

  • Research and Technology Development program

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  • Funding for Technology Entrepreneurs - Aug. 7, 2007

    A WTC event at Washington State University Vancouver Campus.

    Related WTC links:

  • Learn more

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  • RTD grant info sessions - Aug. and Sept. 2007

    Free orientation sessions on early-stage R&D; funding will be held in Seattle, Spokane, Pullman, and online.

    Related WTC links:

  • Learn more

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  • Grant Proposals due April 26, 2007

    Washington Technology Center is currently accepting applications for its next round of Research and Technology Development (RTD) Awards. WTC awards more than $1.2 million annually to projects that partner Washington companies with academic and non-profit research teams.

    Related WTC links:

  • WTC Research and Technology Development program

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  • Seven Companies Receive State-Funded Research Grants

    Washington Technology Center awarded research and technology development grants totaling $457,301 to seven companies working in partnership with academic researchers from the University of Washington and Washington State University.

    Grant winners for January 2007 are Arcadia Biosciences, Seattle; Carbon Nanoprobes, Seattle; Northwind Marine, Seattle; FungusAmongUs, Snohomish; Greenwood Technologies, Bellevue; nLight Photonics, Vancouver; and VisionGate, Gig Harbor. Winning proposals outlined breakthrough research in biotechnology, defense and security, nanotechnology, energy and manufacturing.

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    "Research institutions in Washington are engines of economic growth and these grants bridge the gap between good research and competitive products," says Washington Governor Chris Gregoire. "Congratulations to these innovative companies and researchers."

    Washington state allocates more than $1.2 million annually to the Washington Technology Center grants program. State funding enables collaboration between companies and university researchers on technology projects that show strong potential for commercializing products and creating jobs. Since 1996, the state has funded 304 Research and Technology Development projects.

    This round of grants is expected to generate more than 300 full-time technology jobs in Washington over the next five years. Washington Technology Center estimates that through its work with entrepreneurs, over 7,000 new technology jobs have been created in Washington state, many of these from grant award recipients. New project funding is awarded twice annually.

    Companies are eligible for financial awards up to $100,000 per phase for initial proof-of-concept projects or multi-phase research.

    The Washington Technology Center’s research and technology development grants have proved effective in helping Washington companies and researchers transition novel technologies from “good ideas” into commercially-viable ventures. Annual follow-up surveys show that assisted companies have been successful in leveraging these grants into more than $400 million in additional funding.

    Related WTC links:

  • WTC Research and Technology Development program

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  • Research Funding Available

    Accepting applications for spring 2007 Research and Technology Development Awards.

    Related WTC links:

  • WTC Research and Technology Development program

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  • Bellingham Angel Group Helps Startups Take Flight

    Angel investors put faith in little companies' big ideas
    By Jessica Evans
    Typically, angels are more often felt than seen. A group of 25 angels – the majority of whom reside in Whatcom County – is no different.

    The Bellingham Angel Group describes "angels" within the investment community as high net worth individuals who fill in the investment gap between initial investors such as friends and family, and traditional venture capitalist investors. The Bellingham Angel Group tends to focus on early-stage companies that need more capital investment than can usually be generated by the entrepreneur, but are not sufficiently developed to attract the interest of today's average venture capital group.

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    The Center for Venture Research at the University of New Hampshire, which does research on angel investments, estimates the total investment from angels in the United States is between $20 billion and $50 billion as compared to the $3 to $5 billion per year that the formal venture capital community invests at this stage.

    For confidentiality purposes, Bellingham Angel Group members are not publicly identified. In an effort to help the community understand their ambitions, three members have agreed to identify themselves and give the public a rare peek into a low-profile group working to improve the economic future of Northwest Washington through targeted local investments.

    Atypical angels
    Glenn Butler isn't your typical angel. His wife and three children likely agree. He holds a bachelor's degree in chemical engineering from Oregon State University and completed the advanced management program at Harvard University's Graduate School of Business.

    Like Butler, the title of angel is at the bottom of a long list of occupational titles for Ralph Bennett. Bennett's list includes founder, director, vice president, president and CEO – all of which he became at the Vancouver, B.C.-based PMC-Sierra, Inc. (NASDAQ: PMCS), prior to retiring in 1996. Bennett's acquisition of several titles began with a series of high-tech startups such as Vermont Semiconductor, RSA Security (NASDAQ:RSAS) and Mitel, now called Zarlink Semiconductor (NYSE:ZL), which he founded, invested in and led as CEO.

    Butler and Bennett have two things in common: a healthy fiscal profile and a passion for investing a portion of their wealth within the Northwest Washington community to help others achieve success with their business endeavors and livelihoods. These commonalities are the reasons Butler and Bennett helped found the Bellingham Angel Group in 2005 and added one more title to their lists, angel.

    Butler and Bennett are unique, but they are not flying solo. In fact, the two are only a couple of many local investors who desire to invest in seed – or early-stage companies in the Bellingham region.

    To qualify as an angel investor, the U.S. Securities and Exchange Commission requires that the individual have either a net worth exceeding $1 million, individually or with a spouse, or have an individual income of $200,000 or joint income with a spouse exceeding $300,000 in each of the most recent two years and a reasonable expectation of reaching the same level in the coming year. Bellingham Angel Group members engage in the high-risk, high-return practice of "angel investing."

    "One of the things that early-stage companies are missing is the ability to transform excellent ideas into real financial results," Butler says.

    Statewide solutions
    The Bellingham Angel Group is part of a wider network of angels in Washington state under the auspices of the Washington Technology Center (WTC) Angel Network and is a member of Angel Capital Association. The group also works with the Alliance of Angels in Seattle, The Puget Sound Venture Group, The Northwest Entrepreneur Network and the Angel Forum in Vancouver, B.C.

    "This wide network of angels and investors with whom we share information and opportunities, together with our local Bellingham community relationships will insure that we are a significant and important part of the investment community in our city and state," Bellingham Angel Group Chair Bruce MacCormack says.

    In partnership with the WTC, the Bellingham Angel Group is dovetailing the mission to channel state and federal funding for research and business development and foster mutually beneficial partnerships between technology companies, academic researchers and laboratory facilities across the state. Through the WTC, Washington state channels millions of dollars to high-technology companies.

    Although Bellingham experienced a loss of 2 percent in employment this year within two of its leading industries – wireless telecommunications and petroleum/coal products manufacturing – Bellingham placed first in the state for new company starts, according to the WTC report "2006 Washington Index of Innovation and Technology." It shined in new company creation – capturing the top spot in the state for birth rates on a per capita basis. Bellingham's 2,569 new company starts were more than double some of its peer regions.

    Bellingham reflects many of Washington state's positive results from the WTC report. Washingtonians are innovators. The state leads the country with the generation of new ideas and the translation of these ideas into commercially successful products and services. Washington had the highest rate of new company formation for five years running until neighboring Idaho recently took the lead. Montana ranks third. This strong performance by Northwest states exemplifies that this region is a clear leader in entrepreneurial growth. As groups like the Bellingham Angel Group invest in this innovation by helping startup companies, more jobs are created and, ultimately, the region benefits from a more robust economy.

    According to the Angel Capital Association, the return on startup company investment is huge. For instance, with each dollar the state has invested in the WTC, 14 additional dollars have been invested in the economy. Millions of dollars in funding have allowed local companies to develop new products and create additional jobs, the latter of which Butler and Bennett specifically believe Northwest Washington needs to capitalize on.

    MacCormack says applicant companies seek as little as $150,000 to as much as $1.5 million or more and individual angels typically set aside between $50,000 and $500,000 to invest in a given company.

    Interestingly, the group itself does not make investments. It is merely a conduit for individual angel investors to enter into discussions with the company's executives to negotiate the investment.

    "It is likely, at least among the Bellingham Angels, that individual investments of around $25,000 to $50,000 would be the norm, bearing in mind that angels may make several different investments in any year," MacCormack says. "Smaller amounts invested over several opportunities spread the risk/return ratio in what is after all, a high risk environment. It is not uncommon for a number of angels to combine together to invest in a startup company, although their individual participation level may vary."

    Former WTC Angel Network Manager Nate Silverman emphasized that although a successful angel investor can expect to average a 20- to 30-percent return on their investment, angel investing is extremely high risk.

    "Angels should expect to lose everything on a number of investments, do OK on others and do really well on very few — maybe 10 to 20 percent," Silverman says. "That means only one or two out of 10 investments are ‘home runs' and have to compensate for the losses to make the average portfolio return on investment acceptable.

    Considering the risk/return ratio, it is understandable that investors expect a higher return than the stock market, which averages about 10 percent return per year."

    MacCormack says economic growth is spurred by "private motivations with public results."

    "At the most basic level, investors invest in companies they think will grow large quickly," MacCormack says. "Growth can thus be measured in market value, but also in revenue and size such as the number of employees."

    Despite its relatively fast high-tech employment rate within the aircraft manufacturing industry, Bellingham isn't exactly a hotbed of early-stage investment activity. Butler says the creation of the Bellingham Angel Group was the logical solution to helping entrepreneurs with big ideas and little money when the banks shied away from shouldering above-average risk.

    The primary advantage for the group is that it provides an efficient means of gaining access to the best investment opportunities while the community benefits in that the angels offer a focal point for early-stage investing with a simple, streamlined process for engagement.

    "I expect the group to make several million dollars in investments over the next few years," Bennett says.

    MacCormack warns, however, that angel investing isn't for most startups. Simply asking will not do for companies seeking angel investors. A few hurdles exist in the group's formally established investment opportunity review process.

    Since its creation, the group has received more than 50 applications from companies. After the next quarterly meeting, only 15 of the 50 companies will have been allowed to present to the group.

    "Preceding our next member meeting, 13 companies were reviewed and three have been selected to present," MacCormack says. "At this point it is estimated that about 20 percent of companies either have some funding in place or are in the process of term sheets or due diligence to that end."

    Potential opportunities are based on depth of management team, strength of technology or service offerings and potential for high returns. Bennett says his criteria for deciding what companies to invest in comprises the following three areas: technology viability, market opportunities and capabilities of the principals involved.

    Here's how: Companies seeking to present their business proposition to the angels must apply to the screening committee. This five-member committee reviews the applications and determines which companies they want to invite to a screening committee presentation. Those invited are allowed to make a one-hour presentation about their company and its investment needs. If the committee approves, only then is the company allowed to make a 10-minute presentation at a Bellingham
    Angel Group quarterly meeting.

    As a member of the Bellingham Angel Group screening committee, Butler explains the secret of achieving a successful pitch is adhering to the tough criteria.

    "Keep it short; don't spend all your time trying to convince me you have invented the best mousetrap," Butler says. "Convince me you actually own the rights to the mousetrap; have the management expertise to commercialize the mousetrap; understand the potential market and your competition in the mousetrap arena; scale up to a level that piques my interest; and finally, convince me that there is an exit strategy for me to get my money out of your company."

    Scoring one or more angels frequently brings more than just a direct, personal investment between $10,000 and $100,000 to an early-stage company or business idea. Most often, angels are corporate executives, entrepreneurs, venture capitalists or have family wealth. Diverse experiences within these backgrounds often provide counsel, strategic direction and management accountability as added values to the company.

    Butler, for example, is a business consultant specializing in the fields of energy, environment, safety and public affairs. He is the former plant manager for the Cherry Point Refinery. Prior to starting his own consulting business in May 2000, Butler's career involved more than 20 years with Atlantic Richfield Company (ARCO).

    "I have been part of turning around a failing business, improving an already successful business, developing additional profit lines, and acquiring and divesting business segments," Butler says. "Hopefully this varied level of experience will be valuable to both the Bellingham Angel Group and early-stage companies."

    Forward focus
    Angel investing is a proven economic tool. Communities with strong angel networks such as Wenatchee, Port Angeles and Seattle are able to foster the development of entrepreneurial ventures and new startup companies.

    "I have three kids all nearing adulthood and right now, Bellingham doesn't have a lot of opportunities for them in the job area," Butler says. "I'd like to make that at least a possibility."

    Butler and Bennett say the true power of the Bellingham Angel Group is that angel investing combines self-interest of the investors with their desire to help build a strong economic future for the community.
    "It's all about helping others in the community," Bennett says.

    MacCormack agrees that although angels are seeking a high return on their investment in what is a high risk/high return environment, the group's motives can also be philanthropically based. "Angels tend to be retired or semi-retired businessmen who want to somehow stay involved in their community, necessarily have an ‘affection' for entrepreneurs and want to ‘give back' something to the community from which they have gained so much," MacCormack says.

    Like other angel investors, Butler will count himself successful with at least one angel investment per year. Although he says the group is looking for companies that have the potential to yield a high return, the ultimate goal is to strengthen the cities of Northwest Washington. "A city doesn't lose its soul when it grows," Butler says. "It will almost certainly lose that soul if it is not renewed with the energy of new ideas, new people and new opportunities for all of us."

    Bennett agrees that as the base of economics, fiscal growth is integral to the state's success. "A community, like a country, relies on monies coming from outside itself for continued growth, jobs and prosperity," Bennett says. "Any community needs companies which develop and build products and services to exchange for such monies."

    In regard to additional jobs, the group has forecasted potentially major economic impacts in Washington state communities, Bennett says. "For example, at Mitel, we started with a group of about 15 in 1976 and by 1983 we had over 5,000 employees," Bennett says. "At PMC-Sierra we started with 29 in 1992, and today there are over 600 employees in the same local area."

    To those in Washington who disapprove of creating additional jobs and fear overcrowding, Bennett says change is inevitable, but proactively initiating positive growth is optional and feasible through the Bellingham Angel Group. "From my viewpoint, as long as there is space like Whatcom County available, it will continue to fill, either with good, enterprising people who are helpful to one another, or others not so helpful," Bennett says. "A community–like everything else–either grows or it decays. There is just no staying even. That is the law of the universe."

    The touch of these angels may not be a typical one, but Northwest Washington is sure to feel the investment in angelic ideas, including those proposed so far that promise breakthroughs in medicine, reduce energy consumption or solve environmental problems. "Maybe one of the companies we help start up right here in Bellingham will make ours and our children's lives better," Butler says.

    --------------------------------------------------------------------------------

    This article first appeared in the July 2006 issue of Northwest Business Monthly magazine. The article has been reprinted, with permission, in this issue of the WTC News.

    Related external links (will open a new window):

  • Bellingham Angel Group

    Related WTC links:

  • WTC Angel Network

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  • SBIR Breakfast Set for January 25, 2007

    Small Business Innovation Research (SBIR) awards provide opportunities for early and growth-stage companies to get the funding and support they need to commercialize technologies and create innovative products and solutions for everything from health care to homeland security, energy efficiency to environmental safety.

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    SBIR program solicitations are issued by eleven Federal agencies, including the Department of Defense, the Department of Energy, National Institutes of Health, the Environmental Protection Agency, the National Aeronautics and Space Administration, and the National Science Foundation. Funding ranges from $100,000 to $1 million depending on the phase of the award.

    Winning one of these competitive grants can be a vital catalyst to a company’s growth. Knowing how to effectively navigate the federal grant system, including how to prepare a compelling proposal, finding the right “fit” for your technology, and knowing what it means to partner with the government, are critical steps in the SBIR process.

    The SBIR Breakfast Series is one way WTC is helping Washington be better prepared to compete and win these awards. Each breakfast event hones in on a timely topic or tip that Washington companies can add to their arsenal of information when going after these awards.

    Specific topic and speakers for the January 25 breakfast will be announced in the near future, so keep watching WTC’s Events Page for updates.

    Admission to the breakfast seminar is $35 and includes breakfast and all course materials.

    SBIR Breakfast

    Thursday, January 25
    7 a.m. to 9 a.m.

    7 - 7:30 a.m.
    Registration

    7:30 - 9 a.m.
    Breakfast & Program

    University of Washington Club
    UW Campus, Seattle

    Related WTC links:

  • Learn more about WTC's SBIR program

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  • Eleven companies, researchers awarded grants

    "Live long and prosper" could be the tagline for this year's Research and Technology Development (RTD) grant winners. Disease prevention, greener living, and raising the bar on performance were popular themes among the most recent round of grants awarded by Washington Technology Center (WTC).

    RTD grant winners for July 2006 are 3TIER, Seattle; Cadwell Laboratories, Kennewick; Calypso Medical Technologies, Inc., Seattle; EnergG2, Seattle; Hummingbird Scientific, Lacey; Infometrix, Inc., Bothell; Insitu, Bingen; Kronos Air Technologies, Redmond; MicroGREEN Polymers, Arlington; SpringStar USA, Inc., Woodinville; and VentriPoint, Seattle.

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    WTC awarded $952,414 through its RTD program to 11 Washington companies teamed with state researchers from the University of Washington, Washington State University and Swedish Medical Center.

    Winning proposals outlined breakthrough discoveries in everything from heart disease to hydropower, psychoses to pest control, cancer prevention to chromatographs, robust energy storage to robotic reconnaissance aircraft.

    Thermal management was a "hot" issue this year as well with projects taking on such challenges as high temperature testing for nanotech applications, air handling systems for micro-electronics and heat-resistant food packaging made from eco-friendly materials.

    WTC allocates more than $1.2 million annually to the RTD grants program, which provides seed funding to entrepreneurial companies teamed with university researchers on technology projects that show strong commercial potential. Applicants are eligible for financial awards ranging from $100,000 for initial proof-of-concept projects to up to $300,000 for multi-phase research.

    The process is competitive and the goal is clear: to transition our state's most promising innovations into commercial products, company growth and high-wage jobs. The Washington Technology Center has supported 293 technology commercialization projects through its RTD program since 1995.

    These grants have proved effective in helping these companies transition novel technologies from "good ideas" into commercially-viable ventures. From this initial funding, these companies are better able to attract add-on funding from federal grants, angel investors, and industry partners. Annual follow-up surveys show that WTC–assisted companies have been successful in leveraging RTD grants into more than $400 million in additional funding.

    WTC estimates that through its work with Washington entrepreneurs, over 7,000 new technology jobs have been created in our state, many of these from RTD Award recipients. This round of grants is expected to generate roughly 250 full-time technology jobs in Washington over the next two to five years.

    July 2006
    RTD Grant Winners

    3Tier
    Seattle
    Research Partner:
    Andrew Wood, PhD, UW Civil & Environmental Engineering

    Cadwell Laboratories
    Kennewick
    Research Partner: James Wise, PhD, WSU-TriCities

    Calypso Medical Technologies (*project canceled)
    Seattle
    Research Partner:
    Timothy P. Mate, MD, Swedish Medical Center

    EnergG2
    Seattle
    Research Partner: Guozhong Cao, PhD, UW Materials Science & Engineering

    Hummingbird Scientific
    Lacey
    Research Partner:
    Karl Bohringer, PhD,
    UW Electrical Engineering

    Infometrix
    Bothell
    Research Partners: Jaromir Ruzicka, PhD, Mel Koch, PhD, UW Center for Process Analytical Chemistry

    Insitu
    Bingen
    Research Partner:
    Rolf Rysdyk, PhD, UW Aeronautics & Astronautics

    Kronos Air Technologies
    Redmond
    Research Partner:
    Alexander Mamishev, PhD, UW Electrical Engineering

    MicroGREEN Polymers
    Arlington
    Research Partner:
    Vipin Kumar, PhD, UW Mechanical Engineeering

    SpringStar USA, Inc.
    Woodinville
    Research Partner:
    R. Bruce Darling, PhD,
    UW Electrical Engineering

    VentriPoint
    Seattle
    Research Partner:
    Florence Sheehan, MD,
    UW Medical Center

    Related external links (will open a new window):

  • Read more

    Related WTC links:

  • is a WTC client

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  • SBIR Breakfast - September 14, 2006

    The Importance of a Solid Business and Commercialization Plan
    Federal grants are one of the best ways for companies to fund critical research needed to further their business development goals, and give them that competitive edge in the commercial market.

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    Any company or academic principle investigator who has been through the proposal process for the Small Business Innovation Research grants program knows that it takes more than just a good idea or scientific breakthrough to win one of these competitive awards. One of the most critical elements of SBIR success is a solid business and commercialization plan. This is especially true for Phase II and III when the pressure is on to show market value.

    Want to learn more about how to put together a savvy business plan that will increase your chances of funding success? Attend WTC’s SBIR Breakfast session on September 28 and hear from Lisa Kurek, grant management consultant, who will walk you through the steps of developing a well-structured and forward-thinking commercialization strategy.

    Admission to the breakfast seminar is $35.

    --------------------------------------------------------------------------------

    Bonus:
    Sign up for a free one-on-one session with Ms. Kurek
    following the formal breakfast session.

    Limited sessions available. Reservations are one a first-come,
    first-served basis.

    --------------------------------------------------------------------------------

    SBIR Breakfast

    September 14, 2006

    7 - 7:30 a.m.
    Breakfast & Registration

    7:30 - 9 a.m.
    Business & Commercialization Plans
    Lisa Kurek, Managing Partner
    Biotechnology Business Consultants

    University of Washington Club
    UW Campus, Seattle, WA

    BONUS
    One-on-One Sessions
    with Ms. Kurek

    9:30 a.m. - Noon
    1:30 - 4 p.m.

    Bowen Room, Fluke Hall

    Related WTC links:

  • WTC SBIR Program

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  • The million-dollar question for tech start-ups: where do I find funding?

    One of the biggest challenges facing early-stage technology companies is seed funding. Once you've honed in on a concept, assembled your team, and hammered out a business plan, the next step is securing capital to make it happen. This may seem simple, but it can be one of the toughest tasks facing an entrepreneur. Spending a few minutes assessing your options could save you time and secure you money.

    Angel vs. Venture Capital
    The initial inclination for many companies seeking funding is to go after venture capital. VC firms are a good source for investment, but they typically look for advanced-stage ventures. For early-stage companies, angel investment is an attractive alternative. As of 2006, Angel investing is a $20 billion industry in the U.S. Over half a million companies are started in this country every year. Angels invest in about 50,000 of these ventures. In contrast, VCs invest in about 200 –- or two percent –- of these start-ups.

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    When it Comes to Investment, Size Matters
    An angel round typically ranges between $250,000 and $2 million; VCs investments are generally $5 million or greater. By starting with smaller investments by angels, entrepreneurs can meet key milestones and build value in the company before going after VC funding. An initial round of $1 million –- or even $500,000 –- can go a long way towards this effort.

    To Market, To Market
    New companies typically take seven to 10 years to mature. If your to-market cycle falls in this range, it may be too soon for venture capital. VCs have aggressive timeframes, generally seeking laudable returns in three to five years. Angels are more patient investors. They also have shorter funding cycles –- two to four months. VCs average six to nine months.

    A Vested Interest
    Angels are more than wealthy individuals with a penchant for risk. They are often seasoned entrepreneurs, well-versed in how to set up and grow a successful business. An angel's interest in a company extends beyond the return in investment. They can serve as mentors or advisors to a company and assist in business planning and execution. However, don't be fooled into thinking they don't care about returns. Angels are savvy investors who will put a company through the hoops to determine its risk-reward ratio.

    Location, Location, Location
    Angel investors tend to invest locally, typically within 50 miles of their home. This can be advantageous when economic incentives exist for keeping tech companies in the community. It can also mean better odds of being funded. VCs primarily work at the regional and national level. The process is highly competitive and the pool of candidates much broader.

    Calling All Angels
    The most-often heard complaint from entrepreneurs is that they can't access angels. True, it's easier to find VCs –- an Internet search will yield dozens of queries. While angels don't hang a shingle outside their door advertising their portfolios, accessing them may be easier than you think. Talk to people in your market space. Tap your lawyer, CPA, and business colleagues –- you may be surprised who knows who. And network, network, network –- attend entrepreneur functions, join a trade association, participate in investment forums.

    There are organizations, like Washington Technology Center, that help companies access angel investors. WTC's Angel Network screens deals and funnels them to local angel groups. It also helps new groups get started, especially in areas outside of Seattle. WTC also trains entrepreneurs how to present to angels and what to look for in a funding partner through workshops and seminars. Finding an angel is like finding a job –- it's all about the connections. And, with a little work, you can be the standout candidate.

    Related external links (will open a new window):

  • Angel Capital Association

    Related WTC links:

  • WTC Angel Network

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  • Eight projects receive WTC research grants

    Washington Technology Center recently awarded grants to eight Washington researchers teamed with companies to commercialize new technologies.

    WTC's Research and Technology Development (RTD) award winners are Advanced Electroluminescent Sciences, Woodinville; Aegis Biosciences, Spokane; Arcadia Bioscience, Seattle; Cascade Quality Molding, Inc., Yakima; Insilicos, Seattle; Northwest Marine Technology, Anacortes; Tree Top, Selah; and Vaagen Brothers Lumber, Inc., Colville.

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    Research expertise was provided from three of the state's major academic institutions: University of Washington, Washington State University and Gonzaga University.

    Through support from WTC, these collaborative partners are working to revolutionize everything from cardiovascular disease detection to commercial wheat crops. Projects include such breakthrough discoveries as "smart" dressings that treat chronic wounds, vaccinations for fish, biodegradable plastic cutlery, tastier breakfast cereal, energy-efficient light bulbs, and durable decking materials.

    WTC awards funding through its RTD grants program to university researchers teamed with entrepreneurial technology companies on projects that show commercial potential.

    The process is competitive and the goal is clear: to transition our state's most promising innovations into commercial products, company growth and high-wage jobs. Over the last ten years, the Washington Technology Center has supported 285 technology commercialization projects through its RTD program. This seed funding and commercial feasibility endorsement has proved effective in helping these technologies mature into commercially-viable ventures. From this initial funding, these companies are better able to attract add-on funding from federal grants, angel investors, and industry partners. In a 2005 impact study, RTD grant winners reported receiving more than $23 million in additional investment as a result of WTC's support.

    To read project summaries, click on the company name.

    * Advanced Electroluminescent Sciences, Woodinville
    * Aegis Biosciences, Spokane
    * Arcadia Biosciences, Seattle
    * Cascade Quality Molding, Inc., Yakima
    * Insilicos, Seattle
    * Northwest Marine Technology, Anacortes
    * Tree Top, Selah
    * Vaagen Brothers Lumber, Inc., Colville

    Related WTC links:

  • WTC Research and Technology Development Grant Program

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  • Tri-Cities start-ups get new source of seed capital

    Southeastern Washington may soon experience a surge in start-up technology companies forming thanks to a new source of seed funding. The Columbia Investor Group (CIG), a group of nine accredited investors, have launched a formal angel investor group in the Tri-Cities and joined the Washington Technology Center's Angel Network, a connected alliance of angel groups across the state.

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    Bob Tippett, local business leader and founding member of the Columbia Investor Group, says that the group will bring much-needed start-up financing to early-stage companies in the Tri-Cities area looking to make the transition from concept to company.

    "CIG is a dynamic group of seasoned investors," says Tippett. "They've had experience running successful companies and have strong roots in the Tri-Cities community," he adds. "They understand the dedication, passion and risk it takes to start-up and grow a business and are capable of providing both the funding and mentorship that these entrepreneurs need."

    Private investors, or "angels," are critical to the success of start-ups. They are often the first outside financing that early-stage companies receive beyond what they can raise from family or friends. These wealthy individuals -- usually with extensive business backgrounds -- provide seed funding, and frequently business guidance, to companies that need capital but have not yet matured to the stage of seeking financing from venture firms or financial institutions.

    Many of the CIG members the have made investments in private companies in the past, notes Tippet. However, operating as a solo investor can be time-consuming and challenging. "Forming an investment group and working with WTC's Angel Network Coming provides our members with more investment power," Tippet explains. "We share due diligence and collectively evaluate attractive deals. We can attract more entrepreneurs who see value in presenting to multiple investors at one time."

    CIG will host its first meeting in January at which time it will review funding proposals from two to four local companies. The group will continue to meet quarterly to hear presentations from local companies seeking angel investment.

    Washington Technology Center, through its Angel Network, helps groups like the CIG get started.

    WTC's Angel Network empowers communities to stimulate their own economic growth. Connecting local investors with local entrepreneurs helps these companies grow more rapidly and creates local jobs. It's a win-win-win for the angel, the entrepreneur, and the region.

    The Tri-Cities is a good market for an angel group, notes Silverman, because it has much of the infrastructure in place to support a local technology economy. Over 250 individuals who meet the criteria for being angel investors, combined with strong intellectual property and patent generation, and solid tech employment, are good indicators of the region's ability to start-up and grow companies. Connecting CIG with similar groups within the WTC Angel Network in Wenatchee, Yakima and Walla Walla and other angel groups in Seattle and Spokane amplifies the local infrastructure's effectiveness.

    Pacific Northwest National Laboratory (PNNL) was also instrumental in helping the Columbia Investor Group to form in the Tri-Cities. The federal lab is a good source of intellectual capital and attracts federal dollars into the region. PNNL's people and IP have formed the basis for more than 100 companies since 1965. "Access to early-stage investment capital from private investors is critical to help grow the local technology-based economy because there is typically a lengthy lag time from the birth of an invention until it appears in the market to generate revenue for the inventor," says Gary Spanner, manager of PNNL's Economic Development Office. "Surveys of local technology businesses have consistently shown the need for greater access to early-stage capital to fill this gap, which is why PNNL helped local investors and WTC get this network started," he added.

    The Columbia Investor Group is the third group in Washington to be formed with assistance from the WTC Angel Network. Existing groups include the Apple Seed Network in Wenatchee and the Bellingham Angels in Bellingham. As a member of the WTC Angel Network, the Columbia Investor Group also has the opportunity to collaborate with other member angel groups across the state. The Network provides the framework for individual groups and member investors to share information and expertise and attract better deals. Collectively, WTC's Angel Network has screened deals from about 150 companies. More than 25 have presented to member groups and have secured an estimated $450,000 in funding so far.

    Related WTC links:

  • WTC Angel Network

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  • Defense & Security Grants Conference draws 150 - December 8, 2005

    More than 150 technology business leaders attended WTC's Defense and Security's Conference on December 8 to learn about government grants and contract opportunities available through a range of Department of Defense programs.

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    The morning featured presentations on two Department of Defense supported programs: TechLink and the Defense Acquisition Challenge Program. Will Swearingen, PhD gave an overview of the federally funded technology transfer program run through TechLink. This program has helped Northwest companies secure over $51 million in R&D; funding and assisted hundreds in becoming defense contractors.

    Dr. Swearingen was followed by Paul Frichtl who gave an informative overview of the Defense Acquisition Challenge Program and offered attendees insights into navigating the world of defense contracts and grants. The DAC program is an opportunity for entrepreneurs to introduce cutting-edge technologies to the Department of Defense for potential military adoption.

    Over lunch, keynote speaker Nelson Ludlow, CEO of Mobilisa, spoke about his company's successes in winning federal grants and government contracts. He also talked about emerging markets and a need for innovative solutions to military and national security challenges, and gave a demonstration of one of Mobilisa's latest products -- a scanning device.

    The afternoon sessions opened with an overview of the Technical Support Work Group program from Erin Nielsen. Ms. Nielsen spoke to attendees about the best way to apply for R&D; funding to rapidly develop technologies to combat terrorism.

    The remainder of the afternoon sessions included an overview of the SBIR program, with a focus on the commercialization phase, from Ray Friesenhahn, a riveting presentation from legal counsel Bill Shook on intellectual property protection, and grant proposal writing tips from Teena Kennedy. The conference concluded with a networking session to allow attendees to spend more time talking with the speakers and to make new contacts to help further business opportunities in this sector.

    "The Washington Technology Center plays a critical role in supporting the growth and development of companies, institutions, and government agencies throughout the state and in fostering good business practices and procedures in this constantly evolving technology market." -- William Shook, Partner, Preston Gates & Ellis LLC, Seattle, Wash.

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    Pacific Northwest Biomedical & Life Sciences Summit is Oct. 7, 2005

    Federal grants are a major funding source for life sciences technology research and development. Federal agencies allocated more than $22.2 billion annually for research in biomedicine, bioscience and other health-related fields.

    To help Washington companies and researchers capture a greater share of this federal funding, WTC is bringing grant experts from four government agencies to the state for this one-day event. Participating agencies include National Institutes of Health (NIH), U.S. Department of Energy (DOE), U.S. Department of Defense (DOD), and National Aeronautics &Space; Administration (NASA).

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    Under programs like Small Business Innovation Research (SBIR), these agencies collectively earmark and award more than $2 billion annually to life sciences research. Don't miss this rare opportunity to interact directly with these government agencies right here in Washington and learn more about these programs.

    Conference Highlights:
    * Hear first hand from federal agencies on what they look for in award-winning biomedical and bioscience grants.
    * Meet one-on-one with agency representatives who can guide and assist you in understanding program development opportunities.
    * Get professional advice and inside tips from legal and financial experts on issues such as contract management, business growth and development.
    * Learn how to leverage funding awards to further your commercialization efforts.

    This is a WaFAST Supported Event

    Related WTC links:

  • WTC SBIR Program

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  • Defense & Security Grants Conference is Dec. 8, 2005 in Seattle

    Washington Technology Center is teaming with the Snohomish County Economic Development Council to present a Defense and Security Grants Conference in Seattle on December 8, 2005.

    This one-day event, which will be held from 9 a.m. to 5 p.m. at the Museum of History and Industry, will help northwest entrepreneurs learn more about technology research grants available from the U.S. Department of Defense and offer insights into how this federal agency works with companies to develop and commercialize defense and security technology applications.

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    Program Highlights:
    * Hearing from agency representatives and industry experts on funding opportunities available for companies working in the defense and security sector
    * An overview of where the defense and security industry is headed and how to tap into R&D; funding through three programs: Defense Acquisition Challenge Program, Technology Support Working Group, and SBIR/STTR
    * A grant writing workshop to help hone your proposal preparation skills and allow you to be more competitive during the granting process;
    * Special time set aside following the formal program for networking and connecting with colleagues, partners, resources and industry experts.

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    Financing Roadmap: Setting a Course for Your Company's Future - Jan. 23, 2006

    Monday, January 23, 2006
    8 a.m. to 4:30 p.m.
    SBA District Office
    1200 Sixth Avenue, Suite 1700, Seattle, WA Sponsored by

    WTC's Financing Roadmap workshop is designed to help startups, early-stage firms, and companies with growth potential learn about a range of financing methods available to them and to determine which path to take when seeking funding. Financing options discussed include equity capital, debt financing, partnerships, and license agreements.

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    Specific topics to be covered include: types of financing methods available to growth-oriented businesses; how to decide which types are best for you; how to position your business to obtain funding; where to find investment and funding partners; legal issues involved with various financing alternatives; what a large company looks for when seeking a smaller company as a partner; and case studies on companies that found funding.

    Cost to attend the Financing Roadmap is $75 and includes all three sessions, program materials and lunch.

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    SBIR Quarterly Breakfast Seminar -- Nuts 'n Bolts of SBIR - Dec. 15, 2005

    Thursday, December 15, 2005
    7:30 to 9 a.m.
    University of Washington Club
    UW Campus, Seattle, Wash.

    Join us for this essential refresher course on the Small Business Innovation Research (SBIR) program. This back to basics, "Nuts ‘n Bolts" session will feature a panel of experts who will talk about the SBIR program, and how entrepreneurs can leverage funding from this program to their competitive advantage. This session will also cover updates and changes to the SBIR program as well as discussing the legal issues and accounting processes necessary to successfully manage these awards.

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    The Washington Technology Center helps entrepreneurial technology companies get information about the STTR and SBIR programs and navigate the process for applying for funding under this program. This popular breakfast series is made possible through the WaFAST program and sponsorship from Dorsey & Whitney and Clark Nuber.

    Admission to the breakfast seminar is $35.

    Related WTC links:

  • WTC SBIR Program

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  • Angel Network sparks new groups and deal flow across Washington

    Launched in 2003, WTC's Angel Network is getting new investment groups started and initiating deal flow for entrepreneurial ventures across Washington. The Angel Network was created to open up opportunities for investment in Washington technology start-up companies outside more traditional urban centers, like Puget Sound, and to pave the way for smaller communities across the state to have established investment groups in their own regions.

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    Over the last year, the Angel Network focused on helping five communities in Washington form local angel investment groups: Bellingham, Wenatchee, Tri-Cities, Yakima and Spokane.

    For Spokane, which already has an active group in place, WTC worked with local partners, including ConnectNorthwest, to support the activities of the Delta Angel Group. WTC provided educational outreach to both potential investors and entrepreneurs in the area as well as providing existing groups with member recommendations and qualified investment opportunities.

    Bellingham and Wenatchee started up new local angel groups under the guidance of WTC and have become charter members of the Angel Network. The Angel Network is modeled in the style of a professional membership organization and provides support to local member groups across the state, offering resources, education and deal flow, and connecting the individual groups together through a larger, statewide network.

    In Tri-Cities and Yakima, angel activity is still in its earliest stages. WTC is working with entrepreneurial companies, investor candidates and local business groups to develop a localized investment community based on interest, resources and human capital locally available.

    The value of having local angel groups is that the investment stays in the community. Companies that start up operations in a community have investment channels to go through in their region and can approach these investors before having to seek financial support outside the region. In return, the angels get to see their investment support business growth in their own communities and the region benefits as a whole from being able to support and grow a local economy rich in technology business and job creation.

    Part of the services that WTC provides include hosting a series of workshops aimed at educating both potential angels and early-stage companies on the benefits of being connected with angel groups.

    Eye of the Investor helps prepare early-stage companies looking for start-up capital to go before investors. The program provides insight into preparing for investor presentations, guidance as to what is involved in working with angels, and also the opportunity to do practice presentations directly to angels themselves. Eye of the Investor seminars, held in Bellingham and Tri-Cities, attracted 34 entrepreneurs looking to learn more about how to present their business plans favorably to potential angel groups.

    A complementary program, Power of Angel Investing, helps individuals interested in becoming angel investors, to better understand what is involved in this type of investment activity, and how to evaluate if being part of an angel group is the right option for them. WTC held three Power of Angel Investing workshops over the past year in Spokane, Seattle and Richland. More than 50 angel investor candidates attended these seminars.


    Over the past 12 months, the Angel Network screened 76 proposals for funding consideration. Thirteen of these companies passed WTC's screening criteria. Six of these companies presented to members of the Angel Network with seven more currently being reviewed for future consideration.

    Related WTC links:

  • WTC Angel Network

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  • EnVenture Northwest, 8/22/2005, 1:30 - 4:30 p.m.

    Energy technology companies can take advantage of this exclusive opportunity to present their business plan directly to equity investors. The selected companies will undergo screening and coaching by an expert panel of angel investors and venture capitalists prior to this high-caliber forum.

    Related WTC links:

  • NWETC.com

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  • SBIR Funding for Energy R&D;, 8/22/2005, 8 a.m. - Noon

    The Department of Energy awards $95 million in funding each year to companies working on energy-related technology research & development. This half-day workshop helps companies understand how federal Small Business Innovation Research (SBIR) programs work and how to apply for funding.

    Related WTC links:

  • WTC SBIR Program

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  • The 2005 Financing Roadmap: Evaluating Your Options -- April 28, 2005

    April 28, 2005
    8:00 am to 4:30 pm
    PNNL, Environmental Molecular Science Laboratory
    902 Battelle Blvd., Richland, Washington

    This workshop is designed to help startups, early-stage firms, and companies with growth potential will learn about a range of financing methods including equity capital, debt financing, partnerships, and license agreements. The morning session takes a case study approach to looking at ways to raise outside equity investment capital. This session addresses such issues as finding angel investors, creating and delivering an angel investor pitch, and dealing with ongoing investor relations. Advanced Imaging Technologies, an early-stage medical imaging startup based in Richland will be profiled. During a catered lunch, a panel of experts will discuss their experiences and perspectives in funding and partnering with smaller companies. The afternoon focuses on non-equity forms of fundraising, especially for young or small companies. Cost to attend is $49, including lunch and materials.

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    SBIR/STTR Breakfast Seminar SBIR/STTR Breakfast Seminar -- April 21, 2005

    April 21, 2005
    7:30 to 9:00 a.m.
    Washington Club
    University of Washington Campus, Seattle, WA

    Steve Meginniss, President of Magic Wheels, will share his experience in leveraging his initial Phase I and Phase II funding into an additional Competing Continuation Grant. Magic Wheels received their Phase 1 in 1998, Phase II in 2002, with a continuation grant awarded in 2004 from the National Institute of Child Health and Human Development. He will describe the program, keys to success, and how to leverage your connection with a program officer. The Competing Continuation Phase II Grants are available up to $1 million/year for each of three years, for a potential total of $3 million above and beyond a company's initial Phase I and Phase II awards. Funding is selectively offered by various institutes such as the National Cancer Institute (NCI), National Heart, Lung and Blood Institute (NHLB), National Institute on Drug Abuse (NIDA) and several others. Purposes of funding are for clinical trials of various types and studies to meet FDA approvals are a few of the purposes supported under the Competing Continuation Grants. Cost to attend this breakfast seminar is $40 includes breakfast and program materials.

    Related WTC links:

  • WTC's SBIR Program
  • Magic Wheels is a WTC client

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  • SBIR 101: An Introduction to Federal Research Funding Awards -- April 20, 2005

    April 20, 2005
    1 p.m. to 5 p.m.
    Sirti Offices, 665 N. Riverpoint Blvd., Spokane, WA

    WTC's introductory workshop on the Small Business Innovation Research (SBIR) program is coming to Spokane, Washington. If you are an entrepreneur interested in learning more about how your company can benefit from federal funding for R&D; projects, you won't want to miss this informative session. The federal government sets aside $1.8 billion annually in Small Business Innovation Research (SBIR) funding for companies who seek financial assistance with technology research and production development. Your company may be eligible to receive up to $850,000 in federal R&D; funding. In this seminar, professionals knowledgeable about the SBIR process will walk you through the basics of what it takes to win one of these competitive grants. Cost to attend SBIR 101 is $40 and includes breakfast and program materials.

    Related WTC links:

  • WTC SBIR Program

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  • Moving your R&D; Forward: Tapping into Government Funds for Energy Technology Projects -- April 20, 2005

    April 20, 2005
    8:00 am to noon
    Sirti, 665 N. Riverpoint Blvd., Spokane, WA

    The U.S Department of Energy awards $95 million in funding each year to companies who seek financial assistance with technology research and product development. Your company may be eligible to receive federal R&D; funding for your energy research projects from agencies like the Department of Energy and EPA. The Northwest Energy Technology Collaborative (NWETC) in partnership with the Washington Technology Center (WTC) is hosting a workshop on April 20, 2005 in the Spokane area that provides valuable insight into navigating the path towards securing government funds for energy R&D; projects. Speakers include representatives from Department of Energy and Environmental Protection Agency. Cost to attend is $45 and includes program materials.

    Related WTC links:

  • WTC SBIR Program

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  • 12 Companies Receive Research Grants from Washington Technology Center

    Sounder sleep. Healthier teeth and gums. More effective medication. Lush lawns and gardens. Tastier breakfast cereal. More powerful electronics. Stealthier military operations. These are some of the innovative ideas born from Washington researchers and business entrepreneurs that will get a jump start to market thanks to public investment from Washington Technology Center (WTC).

    WTC's Research & Technology Development (RTD) grants program awards more than $1 million annually to university researchers teamed with technology companies on projects that show potential for commercial success.

    Twelve Washington companies received awards totaling more than $657,000 in the most recent round of funding. These recipients represent businesses all across Washington, east to west and north to south, with research support provided by three of the state's major academic institutions: University of Washington, Washington State University and Central Washington University. This round of projects also strikes a nice balance of technology businesses operating in both urban and rural communities.

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    The financing assistance provided by these awards is designed to help companies looking to develop innovative new products to get the support necessary to conduct critical research and development studies. The ultimate goal is to provide these companies with a competitive commercial edge, accelerate the delivery of new technologies to market and create healthy business and higher wage jobs in Washington. The outcome of the research in these 12 projects is estimated to generate 650 new technology jobs in Washington over the next five years.

    Below is a list of the 12 RTD grant recipients. To read about each company and their research, click on the company names.

    Phase One Award Winners
    American Premix Technologies, Creston, Wash.
    CellVitro Technologies, Inc., Seattle, Wash.
    DiMeMa, Inc., Seattle, Wash.
    Kronos Air Technologies, Inc., Redmond, Wash.
    Pro-Tech Services, Inc., Mukilteo, Wash.
    SoilSoup, Inc., Seattle, Wash.

    Phase Two Award Winners
    Andgar Corporation, Ferndale, Wash.
    B&G; Farms, Royal City, Wash.
    Insitu Group, Bingen, Wash.
    MicroGREEN Polymers, Inc., Stanwood, Wash.
    Second Act Partners, Inc., Redmond, Wash.
    Tree Top, Inc., Selah, Wash.

    Related WTC links:

  • WTC Research and Technology Development Program

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  • SBIR 101 Comes to Bellingham: A workshop on federal research funding programs

    SBIR 101, WTC's popular introductory workshop on the Small Business Innovation Research (SBIR) program is coming to Bellingham, Washington. SBIR 101 is being held Wednesday, February 16, 2005, from 8 a.m. to noon at Rivetek's headquarters, 1315 Cornwall Avenue.

    If you are an entrepreneur interested in learning more about how your company can benefit from federal funding for R&D; projects, you won't want to miss this informative session.

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    The federal government sets aside $1.8 billion annually in Small Business Innovation Research (SBIR) funding for companies who seek financial assistance with technology research and production development. Your company may be eligible to receive up to $850,000 in federal R&D; funding.

    In this half-day seminar, professionals knowledgeable about the SBIR process will walk you through the basics of what it takes to win one of these competitive grants. Focus areas include:

    * Assessing your eligibility

    * Evaluating if SBIR is the right program for your company's R&D; goals

    * Navigating the SBIR process and target the agencies that are the best fit for you

    * Understanding the proposal process

    * Tips for preparing compelling, clear and concise applications

    Cost to attend SBIR 101 is $40 and includes breakfast and program materials.

    The Bellingham SBIR 101 workshop is being held in partnership with the Bellingham-Whatcom EDC and TAG, the Northwest Chapter of WSA.

    Related WTC links:

  • WTC SBIR Program

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  • NIH Event Was a Huge Success

    Washington Technology Center hosted National Institutes of Health representatives for the first all-day conference in Seattle on October 7, 2004.

    Nearly 100 company representatives, academics, researchers and others interested in learning more about funding opportunities offered by NIH attended this daylong event.

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    Participants had the opportunity to learn first hand how to improve their grant writing techniques as well as hear from seasoned veterans on how they were able to manage the NIH system.

    The National Institutes of Health (NIH) make more than $525 million a year available to small companies for biomedical and behavioral research. Companies can be eligible to win a federal award that will fund R&D; projects, bring prestige and credibility to their research, and help companies attract strategic partners and outside capital investment.

    "This program was well organized and the target audience was a great match for those that we can support and counsel," says JoAnne Goodnight, Program Coordinator with NIH. Companies were asking great questions, they were prepared to meet with us and this is the type of group we love to see."

    Company representatives also shared their appreciation for the event. John Becker, Consultant to IsoRay, says, "This is one of the most well-organized events I have ever attended."

    Related WTC links:

  • SBIR Program

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  • NWETC Hosts Workshop in Spokane on Funding for Energy Technology R&D;

    The Northwest Energy Technology Collaborative (NWETC) is hosting a workshop on October 21, 2004 in Spokane for Pacific Northwest energy entrepreneurs looking to fund their R&D; activities related to new energy technologies.

    This half-day workshop brings federal funding experts to Eastern Washington to talk about opportunities available through the Small Business Innovative Research (SBIR) program for companies who are looking to commercialize energy-related technology products and who need financial assistance in R&D; to move these goals forward.

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    The U.S Department of Energy awards $95 million in funding each year to companies who seek financial assistance with technology research and product development. This in-depth hands-on session will focus on how to effectively compete for research grants that fund energy-related R&D; and how to prepare a compelling proposal to win an SBIR award.

    Agency representatives from the Department of Energy, the Environment Protection Agency, Pacific Northwest National Laboratories, the Northwest Energy Technology Collaborative and the Washington Technology Center's Regional and Technical Services Division will be on hand to lead the seminar and answer questions about the SBIR program and how it specifically benefits energy companies.

    What: Move Your R&D; Forward: Tapping into Government Funds for Energy Technology Projects

    When: Thursday, October 21, 2004 1:00 p.m. to 4:00 p.m.

    Where: SIRTI Board Room, 665 N. Riverpoint Blvd., Spokane, WA

    Who: Hosted by NWETC in partnership with WTC, INTEC, SIRTI and Avista Corp.

    Related WTC links:

  • NWETC.com

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  • New Angel Investor Group Launches in Bellingham

    A group of individual investors have formed a formal angel group in Bellingham, Washington. The Bellingham Angels formally announced their formation at an Eye of the Investor event on Sept. 23. The group currently has more than 20 active accredited members, and is part of the WTC Angel Network, a statewide alliance of angel groups in communities across the state.

    Private investors, or "angels," are critical to the success of start-ups. They often fill funding gaps for early-stage companies who need financing beyond what they can raise from family or friends and who are not yet ready to go after venture capital.

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    "It takes capital to grow a company," says Paul Grey, CEO of AudienceCentral, a Bellingham company that develops and implements industry-leading advanced communication management technology. "Beyond friends and family, angels are the next source," he notes.

    Bellingham and Whatcom County have a number of high net-worth individuals with vast business experience who have the ability to be successful, active angel investors. In forming the Bellingham Angel Group, these individuals are creating a powerful investment resource for their community.

    Entrepreneurs are going outside the region for seed capital because they don't know how to connect with investors in their area. Formalizing their investment activities gives these individuals more visibility and, in turn, allows them to attract better deals by teaming up on due diligence, proposal review, and by pooling resources for larger investments.

    For the companies, angel groups allow entrepreneurs to approach several investors at a time. "While an angel network wasn't available at the time AudienceCentral was raising capital, I'm pleased that such a network is forming now," Grey adds. "Had a network been in place, it would have saved a lot of my time that could have been focused on growing the business."

    Like most angel groups, the Bellingham Angels will strive to focus their investments on early-stage technology companies in their own community. Entrepreneurs interested in being considered by the Bellingham Angels for investment can submit a request on their website: www.bellinghamangels.com. If selected, the company would present, by invitation only, to the group at its quarterly meeting.

    Through the WTC Angel Network, the Bellingham Angels will also have the opportunity to collaborate with fellow member angel groups across the state. The network provides the framework for individual groups and member investors to access the latest research, industry resources, and investment opportunities screened or endorsed by other angel groups.

    WTC's Angel Network helps angel groups get started and provides ongoing resources and services to these groups. Washington Technology Center created the WTC Angel Network as a result of community outreach and focus group studies that pointed to a need to develop seed capital groups outside the Puget Sound region to help young technology companies move from the R&D; phase to commercialization.

    Currently the WTC Angel Network is helping angel groups get started in four communities in Washington including Wenatchee, Tri-Cities and the San Juan Islands. For more information, link to WTC Angel Network on the WTC Web site.

    Related external links (will open a new window):

  • Bellingham Angel Group

    Related WTC links:

  • WTC Angel Network

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  • Twelve Washington companies receive research funding

    From contamination detection to cancer treatment, cattle waste to computer languages, twelve Washington companies got the green light to conduct critical research as a result of funding awards from Washington Technology Center. WTC's Research & Technology Development (RTD) Grant Program awards more than $1 million annually to university researchers working with emerging technology companies on projects that show potential for commercial success.

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    Proposals are evaluated on the basis of technical merit, economic impact and commercial viability. The financing assistance is designed to help the companies advance specific R&D; efforts that will enable them to enter or advance in the commercial marketplace and ultimately generate new technology jobs in Washington. The outcome of the research in these 12 projects is estimated to generate 600 new jobs in Washington over the next five years. RTD grants are awarded twice annually, in Fall and Spring.

    The 12 RTD award recipients represent businesses across Washington extending from Seattle, North Bend and Snoqualmie to Wenatchee, Colville, Spokane and Tri-Cities. Companies teamed with researchers from two of the state's major academic institutions: six are working with researchers from Washington State University (WSU) and six are collaborating with University of Washington (UW) researchers.

    Congratulations to WTC's 2004 Spring RTD award recipients:

    Cray, Inc., Seattle, WA
    Researcher: Dr. Lawrence Snyder, UW Computer Science and Engineering Department. This project will compare UW's supercomputer language ZPL to Cray's supercomputer language Chapel with the goal of creating one parallel language that builds off the strongest assets of each program. This new collaborative new language will be tested on Cray's next generation supercomputers. Both software programs are open source and will be used to accelerate the adoption and sale of supercomputers.

    Enerdyne Solutions, North Bend, WA
    Researchers: Dr. George LaRue, Dr. Mohamed Osman, WSU Electrical Engineering Department. This project will focus on developing a Gallium Arsenide (GaAs) Radio Frequency (RF) amplifier for use in wireless communications and radar applications that has two-to-three-times higher thermal performance over existing designs. This has the potential to increase power and reliability without compromising battery life or adding to the cost, size or weight of the device.

    Galaxy Compound Semiconductor, Spokane, WA
    Researcher: Dr. Matthew McCluskey, WSU Department of Physics Research will focus on characterizing a new infrared detector material that will have a wider spectral range than conventional detectors. An indium antimonide (InSb) based material that operates in the far infrared region would be a strong competitor to mercury-cadmium-telluride (MCT) semi-conductors in this market. To achieve this, Galaxy proposes adding Bismuth (Bi) to the alloy to extend the wavelength. Prototypes of the new detector will be tested, opening up new markets for Galaxy and increasing interest in InSbBi semiconductor materials.

    Impulse Accelerated Technologies, Seattle, WA
    Researcher: Dr. Carl Ebeling, UW Department of Computer Science & Engineering. This project will focus on developing key applications and creating additional hardware and software interfaces for a new set of design toolsspecifically compilers, optimizers, and debuggers that allow software applications expressed in high-level languages to be compiled to Field Programmable Gate Arrays (FPGA). The commercial availability of these tools will benefit applications used in imaging, biomedical research, data communication, geophysics, data encryption, and signal processing.

    IsoRay, Richland, WA
    Researcher: Dr. Leroy Korb, UW Radiation Oncology Department. This project will document the anticipated clinical and economic benefits of the company's new brachytherapy seed isotope, the Cs131seed, for the treatment of prostate cancer. Prostate cancer is the second leading cause of cancer death in men and IsoRay has the only FDA approved Cesium-131 brachytherapy seed that conforms to the AAPM Task Force 43 guidelines for clinical use. The results of the research will allow the company to gain a stronger foothold in the worldwide brachytherapy seed treatment market.

    Lygan Technologies, Seattle, WA
    Researcher: Dr. Guozhong Cao, UW Department of Materials Science & Engineering Research. This project will focus on developing and evaluating carbon-based nanostructures for use in industrial gas storage systems. These systems have the near-term potential to improve the safety, usability and cost-effectiveness of storing such gases as nitrogen and methane. A longer term goal would be to apply this technology to hydrogen, a desirable power source currently limited in use due to inability to effectively store this gas.

    Magic Wheels, Inc., Seattle, WA
    Researcher: Dr. Brian Flinn, UW Material Science & Engineering Department. This Phase II RTD project will continue testing the endurance, reliability and environmental resistance of Magic Wheels Inc.'s new two-speed manual wheelchair wheels. This two-speed drive contains composite wheels and provides multiple benefits to the manual wheelchair user including easier navigation on uneven terrain and possible reduction of arm pain.

    MicroConnex, Snoqualmie, WA
    Researcher: Dr. Scott Dunham, UW Dept. of Electrical Engineering.
    The research team will test the feasibility of a new process for manufacturing large arrays of high performance thin film transistors on flexible substrates. This new process has the potential to advance the production of thin, flexible semiconductor devices for use in high performance, high frequency applications such as radar, telecommunications and signal processing.

    Multiform Harvest, Inc, Seattle, WA
    Researcher: Dr. Joseph Harrison, Department of Animal Sciences, WSU Puyallup. The effectiveness of a fluidized-bed crystallizer to remove phosphorus from dairy waste to prevent environmental degradation of surface water will be trialed at a dairy farm in Snohomish, WA. Dairy production is one of the top-ranked agricultural industries in Washington. An estimated one-third of all dairy farms in Washington use flush/irrigation systems to create liquid fertilizer from the cattle waste. EPA regulations are calling for a reduction in build up of phosphorus in soil. Solutions currently available are costly and cumbersome for dairy farmers to implement.

    Paine Electronics, Seattle and Wenatchee, WA
    Researcher: Dr. David Bahr, WSU School of Mechanical and Materials Engineering. Research efforts will produce two prototype strain sensors for Paine's pressure gauges that will increase the products' sensitivity while maintaining the robust mechanical reliability of the devices. Paine's pressure transducers and pressure transmitters are used in aerospace, defense, oil and gas, marine and other industries.

    Vaagen Brothers Lumber, Inc., Colville, WA
    Researcher: Dr. Vikram Yadama and Dr. Karl Englund, WSU Wood Materials & Engineering Lab. The project will focus on the analysis and characterization of sawmill residue as a potential fiber source for the manufacturing of wood plastic composites, the potential of which could add value to mill waste that is economically and environmentally sound.

    Vista Engineering Technologies, Kennewick, WA
    Researcher: Dr. Kelvin Lynn, WSU Center for Materials Research. Research will center around the development of a non-invasive gaseous tracers for use with Vista's patented Pipeline Characterization Using Tracers (PCUT) method for detecting, locating and quantifying contamination within pipelines and ductwork. PCUT technology is advantageous and preferred over conventional inspection techniques as it can be used on any pipe diameter or configuration, has no moving parts, requires no equipment decontamination, and inspects all the interior pipeline surfaces. The PCUT technique has already been proven with other contaminants such as petroleum products and solvents. The current work with WSU will extend the use of the technology to pipelines and ductwork with heavy metal contamination such as mercury.

    Related WTC links:

  • Research and Technology Development Grant Program

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  • Research and Technology Development Award eligibility extends to nonprofit research institutions

    Companies looking to participate in WTC's research grant program can now explore research partnerships beyond the state's academic institutions. Nonprofit research institutions in Washington are eligible to apply for and receive funding from WTC for collaborative R&D; projects if they meet the program's requirements.
    Traditionally, WTC's Research and Technology Development (RTD) funding awards have been extended to state universities. The program has been opened to include nonprofit research institutions such as the Fred Hutchinson Cancer Research Center as well as private colleges and universities that have technology research programs, personnel and facilities.

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    WTC's RTD program was designed to help companies and researchers bring science out of the laboratory and into the marketplace. WTC's role is to encourage the evolution of a great idea from concept to credible to commerce.

    Often companies think they are limited to partnerships with the state's two most prominent institutions: University of Washington and Washington State University. While many of the proposals do originate from these universities, as well as from Central, Western and Eastern, there are a number of other institutions throughout the state that may qualify as research partners for this program. WTC hopes that the new eligibility requirements will spark more statewide participation in the RTD grant program and open doors to increased partnerships between commercial and research operations in technology development.

    Related WTC links:

  • Research and Technology Development Grant Program

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  • Focus your attention on winning NIH awards - October 7, 2004,

    Washington Technology Center is hosting a workshop on October 7, 2004 with the support of WBBA to help the state's technologies companies learn more about federal grant programs available through the National Institute of Health (NIH).

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    The Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs are the world's largest seed capital fund for small technology companies. The National Institute of Health (NIH) makes more than $525 million a year available to small companies for biomedical and behavioral research.

    This all-day, in-depth program is designed to help technology companies evaluate their eligibility to win a federal award that will fund R&D; projects. SBIR grants have the advantage of lending prestige and credibility to research projects and can help entrepreneurial businesses attract strategic partners and outside capital investment.

    Don't miss this exclusive opportunity to hear first-hand from NIH grant experts on what they look for in an award winner. Attendees will also garner insight into the review process and how they can increase their company's chances of success in winning an SBIR or STTR grant.

    Who: Washington Technology Center

    What: Positioning Your Company to Win Federal Research Awards

    When: Thursday, October 7, 2004, 8 a.m. to 5:30 p.m.

    Where: Hilton Seattle

    Program:
    NIH Funding Opportunities, Joanne Goodnight, SBIR/STTR Program Coordinator

    Peer Review Process, Anthony Coelho, Review Policy Officer

    Grant Writing Success, Anthony Coelho, Review Policy Officer

    Facts about Funding -- Pre & Post Award, Kathleen Shino, Supervisory Grants Management Specialist

    Panel:
    Real Life Stories From Local CEOs,

    Moderator: Ruth Scott, WBBA

    Panelists:
    Dr. Frederick S. Hagen, President/CEO, Icogenex; Doug Hansmann, Ph.D., General Manager, EKOS Corporation; Alexis Traynor-Kaplan, co-founder and Chief Scientific Officer, Inologic, Inc.;

    BONUS! One-on-One Meetings with NIH Experts
    (Advance Registration Required)

    Cost: $150
    (Includes all sessions, breakfast, lunch, networking reception, and program materials)

    Related WTC links:

  • SBIR Program

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  • The Scoop on SBIR

    WTC's SBIR seminar series puts technology companies across the state in touch with experts who can help them navigate the process of getting funding for research and tap into the resources offered by federal agencies through the Small Business Innovation Research (SBIR) program.

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    Seattle
    Thirty-six people from Western Washington came to see Dr. John Mulligan, President/CEO of Blue Heron Biotechnology, Inc and Dr. Deborah Leith, Special Counsel at Heller Ehrman White & McAuliffe LLP talk at the Seattle breakfast event, "From Concept to Commercialization: How to Leverage Your Intellectual Property," on June 24. This breakfast was tailored for companies who are considering or already in the process of working with federal agencies on research projects funded through SBIR and STTR grants. The presentations centered around insight into understanding how IP is handled at the government level and what to expect when working jointly with agencies on research and development that will have commercial application including the legal and procedural aspect associated with patents and intellectual property.

    Vancouver
    Nearly 40 companies attended WTC's SBIR programs June 16 in Vancouver, Washington. The workshop, entitled "Funding Your R&D;: What It Takes to Win a Federal SBIR Award," provided attendees with in-depth information on federal government programs that award $1.6 billion in funding each year to companies who seek financial assistance with technology research and product development.

    The morning session offered general information on the SBIR program that appealed to a variety of industries. This presentation touched on a wide variety of federal agencies that offer SBIR and STTR awards. The afternoon session focused more specifically on programs for companies looking to develop energy-related technologies and processes for advancing the commercialization of sustainable energy sources. These projects most often involve working with agencies like the Department of Energy (DOE) and Environment Protection Agency (EPA). The event drew companies from both Southwest Washington and Northern Oregon.

    WTC had a great audience for this event. The people who attended seemed interested in learning not only the mechanics of the program, but the way in which it made, or didn't make business sense for them. During the sessions, we focused on how a company should determine whether SBIR and STTR make strategic sense for them in relation to other funding opportunities.

    WTC will continue to host events around the state in communities where there is strong potential for technology growth. The seminar series reflects WTC's mission to educate entrepreneurial businesses on research funding programs available to them.

    Related WTC links:

  • SBIR Program

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  • WTC connects technology companies with investment resources

    Helping Washington technology companies understand funding options open to them as they grow and build their businesses is at the cornerstone of WTC's mission. To achieve this, WTC has a number of resources available to help entrepreneurs tap into programs that offer the best fit for their new ventures.

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    One way WTC is helping these companies get connected is through a series of investment workshops and events around the state. WTC recently held Eye of the Investor workshops in Spokane, Tri-Cities and Wenatchee drawing a collective audience of more than 100 entrepreneurs wanting to learn how to best position their companies to investors looking to fund early-stage ventures.

    During these half-day courses, seasoned investment professionals cover key points critical to making an entrepreneurial venture attractive from a funding perspective. Real world examples, best- and worst-case scenarios, and tips for making a strong "pitch" are covered in depth. The program also offers personal insight from investors on a variety of topics, including:

    * Where to find angel investors
    * How to attract early-stage investors to your company
    * Factors considered by investors when making an investment decision
    * Strategies for handling investor relations.

    Another Eye of the Investor workshop is scheduled for September 23, 2004 in Bellingham.

    A partnership agreement between WTC and the Washington State Investment Board (WSIB) provides yet another avenue for investment.

    The two state agencies are working together to field promising ventures from Washington companies seeking financing through WSIB investment channels. Opportunities that present themselves with promising investment potential are sent to general partners at venture capital firms working with the WSIB for consideration.

    Related WTC links:

  • WTC Angel Network

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  • WTC Angel Network expands its reach

    The WTC Angel Network, launched in June 2003, has been well received. New angel groups are beginning to form around the state, many in areas where formal investments group have not been active in the past.

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    One group, the Olympic Region Angels (ORA), has already become highly visible in Clallam and Jefferson counties. At a recent meeting, 18 angel investors turned out to learn more about the program. ORA is now looking to advance to the fund development stage, with review of new investment opportunities to begin in June 2004.

    Additional angel groups are getting underway in Bellingham and North Central Washington. These groups are currently recruiting local investors in these regions to join their investment group.

    The addition of early-stage equity investments to WTC's Regional and Technical Services line is a critical move in the organization's goal to open up new funding channels for Washington technology companies.

    The WTC Angel Network is focusing on regions of the state that are currently under-served with respect to formal investment activities, but have the potential to develop investment communities. WTC's program offers individuals in these counties an easy and effective means to get angel groups started, and once established, connects these groups together through its statewide Angel Network to stimulate more widespread investment opportunities.

    Interested individuals who meet the criteria for becoming an angel investor* are encouraged to contact Washington Technology Center.

    * An individual with net worth exceeding $1 million or income exceeding $200,000 in each of the two most recent years or joint income with spouse exceeding $300,000 for those years and a reasonable expectation of the same income level in the current year.

    Related WTC links:

  • WTC Angel Network

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  • 'Technology as a Tool' grant program provides funds for companies looking to develop business tools and improve processes

    WTC's "Technology as a Tool" program awards up to $20,000 towards funding research necessary to help Washington-based technology companies increase their profitability. A complement to the organization's research grant program, Technology as a Tool helps fund university research studies for work that augments products and services the company already has in place or is in the process of developing. Grant money can be used for operational improvements at this level.

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    While WTC's research grant program is aimed at funding research that directly results in new product development, Technology as a Tool focuses on research partnerships with the potential to optimize a technique or process and that, while not necessary resulting in the creation of a new product, adds direct value to a product or process necessary to improve the company's performance in the market place. Examples of this type of research include market analysis and optimization studies.

    WTC saw the value of offering a grant program that would allow Washington companies to benefit from academic research beyond direct product development. The Technology as a Tool program opens doors for companies to fund research partnerships for optimization or process improvements which in turn may be critical to their long-term commercial success.

    Related WTC links:

  • RTD Grant Program

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