Winner to be announced soon will get
free foothold in lucrative US market
Eight British technology firms hoping to expand into the lucrative American
market will know soon which one is the winner of a unique competition where
the prize is seed-stage venture capital funding along with all the
experienced professional help it needs.
The winner will get its foothold in a technology incubator in Fairfax
County, Virginia, the technology centre of the US East Coast. Fairfax
County, which bills itself as "e-country," is a few miles west of
An advisory panel of UK business people is now examining the entries that
were submitted after the competition was launched on 1st March and closed on
The eight finalists are:
1. 4eN, Ipswich, Suffolk web page: http://www.4ennews.com
2. AB Tech, Cambridge contacts: email@example.com
3. ClaimNet, Aston Science Park Birmingham web page:http://www.claimnet.co.uk
4. Freesolar, Elvingston Science Centre, East Lothian web page:
5. Mediascope, Aston Science Park Birmingham web page: http://www.mediascopeltd.com
6. MultiMed, Leeds, West Yorkshire web site:firstname.lastname@example.org
7. Riley Fletcher, Warwick, contacts: email@example.com
8. Wire-e, Binley Business Innovation Centre, Coventry, West Midlands web page: http://www.Wire-e.co.uk
Their business interests include business communications; refrigeration &
air conditioning; solar power; childrens' software products; multi-media
medical publications ;Internet based business solutions; Bio-technology
using natural plant based formulae and wireless applications.
The decision is expected to be announced in July.
The incubator - 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.
Dr Gerald Gordon, President of the Fairfax County Economic Development
Authority (FCEDA), said today: "We are gratified that eight UK technology
companies submitted proposals to eIncubator and excited at the prospect of
helping one of them grow in the American market. There is no better place to
do that than Fairfax County."
The competition was limited to BritishAmerican Business Inc. (BABi) members
and companies in United Kingdom Science Parks Association (UKSPA) science
parks and technology centres throughout the UK, home to many technology
Eric Dahler, President of eIncubator, remarked: "Our goal has always been to
reach out and help entrepreneurs worldwide. The UK winner will find, along
with a solid group of local startups, a group of international entrepreneurs
already located in our Fairfax County incubator."
Chief Executive of UKSPA Mr Alan Mason said the competition was an excellent
opportunity for expansion-minded British technology companies.
"North America is a huge market and this competition, unique in the United
Kingdom, offers a wonderful opportunity for the lucky winner to expand into
that new market," he said.
Mr Mason added that rather than Britain losing out by a local company
expanding into the US, in the long run it meant more jobs at home for
innovative, high-growth, knowledge-based UK companies.
Due diligence has been carried out on the winners and the runners-up to meet
the legal requirements and to ensure their credibility and viability, their
leadership team and products. The advisory panel helped eIncubator officials
make the final choice.
The UK Advisory Panel of Judges consisted of the following members:
1. Douglas Blausten, Cyril Leonard & Co and Board Member of
BABi, Chairman of the Panel;
2. Professor John Allen, Chairman of Manchester Science Park
and past Chairman of the UK Science Parks Association;
3. Peter Wallace, Partner in the law firm, Morgan Lewis &
4. Michael Goldstein, Partner in the accountancy firm, Blick
5. Ken Olisa, CEO of Interregnum Venture Marketing Limited;
6. Clive Hyman, UK Head of Business Incubation Services, KPMG.
The winning company will get:
* Free rent in the incubator for 12 months.
* Free advisory services and management assistance tailored to
the company. It could include business model, business plan and business
channel development from eIncubator's experts, and financial, accounting,
legal, marketing and public relations assistance with eIncubator partners.
* Fairfax County Economic Development Authority assistance in
finding strategic partners, sources of capital, and permanent office space.
In exchange, eIncubator will take an equity position in the winning company.
For more information contact:
Michael Ryan, FCEDA London Empire House, 175 Piccadilly, Mayfair W1V 0TB
Tel: 0800 085 0969
Fax: 0800 085 0969
e-mail : FairfaxUK@aol.com
Or Ross Clarke on tel : 020 7630 1100 or e-mail : firstname.lastname@example.org
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