Winner to establish foothold in Virginia USA tech centre
A British technology company will have the opportunity to open a US office, receive seed-stage venture
capital funding and gain all the experienced professional help it needs to grow and expand into the
valuable American marketplace.
Unlike others who may have set out in the past on a similar path to global success, this time many of
the customary potholes and pitfalls along the way will be circumvented.
The company will get its foothold in a technology incubator in Fairfax County, Virginia, the technology
centre of the US East Coast, through a unique UK-US technology competition announced today
(Monday, 12th February 01).
The incubator, called the Fairfax County/eIncubator Technology Centre, specialises in accelerating the
growth of early-stage technology companies. It is managed by eIncubator Inc., a private company.
Fairfax County, which bills itself as "e-country," is a few miles west of Washington, DC.
The joint announcement was made by Alan Mason, Chief Executive of the United Kingdom Science
Parks Association (UKSPA), Gerald Gordon, President of the Fairfax County Economic Development
Authority (FCEDA), and Virginia’s Technology Secretary Donald Upson.
The winning company will benefit from the combined programme organised by the FCEDA and
"This programme will add tremendous value to any company that wants to expand into the US market,"
Gordon says. "Companies will be supported until they can stand on their own in a highly competitive
The competition will be limited to BritishAmerican Business Inc. (BABi) members and companies in
UKSPA science parks and technology centres throughout the UK. The areas are home to many
UKSPA CEO Alan Mason says the incubator competition holds great potential for British technology
companies and increases the value the UKSPA can offer tenant companies.
"It’s a great opportunity for companies in these science parks to expand into a huge new market. In
the long run it also means more jobs here at home for innovative, high-growth, knowledge-based UK
companies," he says.
Due diligence will be carried out on each competitor to ensure the credibility and viability of the
company, its leadership team and its product. An exclusive advisory panel of UK and US experts will
help eIncubator officials narrow the initial submissions down to a short-list. eIncubator officials will
make the final choice.
Submissions for the competition will be made from March 1 to May 1. The due diligence period will last
about two months, with an announcement set for July 1. The winning company could be in place at the
Technology Centre by the end of summer.
Once selected, the winning company will send a small leadership team to Fairfax County to locate in
eIncubator’s offices to begin a customised acceleration programme.
"We know many exciting technology companies have sprung up in the UK, and we’re excited at the
prospect of working with a British company," says Eric Dahler, President of eIncubator.
The company will also establish relationships with eIncubator’s service providers, investors, and public
sector/government networks to further accelerate their growth.
"eIncubator will work closely with the company on a daily basis," says Dahler. "We will address a
number of tasks including management team development, establishing corporate structure and other
legal issues, market analysis, venture financing, channel sales and business development, and
Interested companies can fill out a questionnaire on the eIncubator Web site http://www.eincubator.net
by going to the FCEDA Web site http://www.FairfaxCountyEDA.org
The BABi website http://www.babi.org
is expected to be "live" by March 1.
eIncubator is establishing a partner relationship as well with IQ Incubator International in Berlin, and is
exploring similar opportunities in Asia.
For more information contact:
FCEDA London Empire House,
Tel: 0800 085 0969
Fax: 0800 085 0969
01732 743 745
e-mail : FairfaxUK@aol.com
Or Ross Clarke on tel :
020 7630 1100 or e-mail : email@example.com
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