BRITISH FIRMS IN UNIQUE TECH INCUBATOR COMPETITION Monday 12 February 2001 PDF Print 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 eIncubator Inc. "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 business environment." 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 technology businesses. 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 marketing." Interested companies can fill out a questionnaire on the eIncubator Web site http://www.eincubator.net or by going to the FCEDA Web site http://www.FairfaxCountyEDA.org The BABi website http://www.babi.org also 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: Michael Ryan, FCEDA London Empire House, 175 Piccadilly, Mayfair W1V 0TB 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 This press release was distributed by ResponseSource Press Release Wire on behalf of LIVEpr in the following categories: Consumer Technology, Personal Finance, Business & Finance, Computing & Telecoms, for more information visit https://pressreleasewire.responsesource.com/about.