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©2008 Foley & Lardner LLP • Attorney Advertising • Prior results do not guarantee a similar outcome • Models used are not clients but may be representative of clients • 321 N. Clark Street, Suite 2800, Chicago, IL 60654 • 312.832.4500 ©2008 Foley & Lardner LLP • Attorney Advertising • Prior results do not guarantee a similar outcome • Models used are not clients but may be representative of clients • 321 N. Clark Street, Suite 2800, Chicago, IL 60654 • 312.832.4500 Program Introduction & Welcoming Remarks Susan Pravda Partner & Chair of Foley’s Emerging Tech Industry Team Foley & Lardner LLP

Program Introduction & Welcoming Remarks · ACG Boston Deloitte Mass High Tech ©2008 Foley & Lardner LLP • Attorney Advertising • Prior results do not guarantee a similar outcome

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Page 1: Program Introduction & Welcoming Remarks · ACG Boston Deloitte Mass High Tech ©2008 Foley & Lardner LLP • Attorney Advertising • Prior results do not guarantee a similar outcome

©2008 Foley & Lardner LLP • Attorney Advertising • Prior results do not guarantee a similar outcome • Models used are not clients but may be representative of clients • 321 N. Clark Street, Suite 2800, Chicago, IL 60654 • 312.832.4500

©2008 Foley & Lardner LLP • Attorney Advertising • Prior results do not guarantee a similar outcome • Models used are not clients but may be representative of clients • 321 N. Clark Street, Suite 2800, Chicago, IL 60654 • 312.832.4500

Program Introduction & Welcoming Remarks

Susan PravdaPartner & Chair of Foley’s

Emerging Tech Industry TeamFoley & Lardner LLP

Page 2: Program Introduction & Welcoming Remarks · ACG Boston Deloitte Mass High Tech ©2008 Foley & Lardner LLP • Attorney Advertising • Prior results do not guarantee a similar outcome

©2008 Foley & Lardner LLP • Attorney Advertising • Prior results do not guarantee a similar outcome • Models used are not clients but may be representative of clients • 321 N. Clark Street, Suite 2800, Chicago, IL 60654 • 312.832.4500

Foley wishes to thank our sponsors:

RR DonnelleyBNY Mellon Wealth Management

Covington AssociatesEastern Insurance

ACG BostonDeloitte

Mass High Tech

©2008 Foley & Lardner LLP • Attorney Advertising • Prior results do not guarantee a similar outcome • Models used are not clients but may be representative of clients • 321 N. Clark Street, Suite 2800, Chicago, IL 60654 • 312.832.4500

John R. Truzzolino

Director, E-Solutions

RR Donnelley

Page 3: Program Introduction & Welcoming Remarks · ACG Boston Deloitte Mass High Tech ©2008 Foley & Lardner LLP • Attorney Advertising • Prior results do not guarantee a similar outcome

©2008 Foley & Lardner LLP • Attorney Advertising • Prior results do not guarantee a similar outcome • Models used are not clients but may be representative of clients • 321 N. Clark Street, Suite 2800, Chicago, IL 60654 • 312.832.4500

David F. Lamere

Vice Chairman & CEO

BNY Mellon Wealth Management

©2008 Foley & Lardner LLP • Attorney Advertising • Prior results do not guarantee a similar outcome • Models used are not clients but may be representative of clients • 321 N. Clark Street, Suite 2800, Chicago, IL 60654 • 312.832.4500

2008 Emerging Companies Survey Results

Page 4: Program Introduction & Welcoming Remarks · ACG Boston Deloitte Mass High Tech ©2008 Foley & Lardner LLP • Attorney Advertising • Prior results do not guarantee a similar outcome

©2008 Foley & Lardner LLP

Do you believe it is more difficult to start a company today versus 10 years ago?

©2008 Foley & Lardner LLP

What is your likely exit strategy?

(Note that this question was only addressed to those respondents who identified themselves as a “founder or executive of an emerging company.”)

Page 5: Program Introduction & Welcoming Remarks · ACG Boston Deloitte Mass High Tech ©2008 Foley & Lardner LLP • Attorney Advertising • Prior results do not guarantee a similar outcome

©2008 Foley & Lardner LLP

What is your likely timeframe for an exit?

(Note that this question was only addressed to those respondents who identified themselves as a “founder or executive of an emerging company.”)

©2008 Foley & Lardner LLP

In light of current economic conditions, are you conducting any of the following activities?

(Note that this question was only addressed to those respondents who identified themselves as a “investor.”)

Page 6: Program Introduction & Welcoming Remarks · ACG Boston Deloitte Mass High Tech ©2008 Foley & Lardner LLP • Attorney Advertising • Prior results do not guarantee a similar outcome

©2008 Foley & Lardner LLP

Are you seeing an increase in investments that are being phased over time rather than being made available at once?

©2008 Foley & Lardner LLP

Are you currently seeing an increase in the use of operational or strategic milestones by investors designed to influence valuations?

Page 7: Program Introduction & Welcoming Remarks · ACG Boston Deloitte Mass High Tech ©2008 Foley & Lardner LLP • Attorney Advertising • Prior results do not guarantee a similar outcome

©2008 Foley & Lardner LLP

What is your view of the IPO market over the next two years?

©2008 Foley & Lardner LLP

Access to capital over the next two years will…

Page 8: Program Introduction & Welcoming Remarks · ACG Boston Deloitte Mass High Tech ©2008 Foley & Lardner LLP • Attorney Advertising • Prior results do not guarantee a similar outcome

©2008 Foley & Lardner LLP

How have current economic conditions impacted your plans to raise capital?

(Note that this question was only addressed to those respondents who identified themselves as a “founder or executive of an emerging company.”)

©2008 Foley & Lardner LLP

Executives: Which industries do you believe present the best opportunityfor success for emerging companies over the next two years?

Investors: Where do you expect to focus your investment dollars?

Page 9: Program Introduction & Welcoming Remarks · ACG Boston Deloitte Mass High Tech ©2008 Foley & Lardner LLP • Attorney Advertising • Prior results do not guarantee a similar outcome

©2008 Foley & Lardner LLP

Executives: Which industries do you believe present the best opportunityfor success for emerging companies over the next two years?

Investors: Where do you expect to focus your investment dollars?

©2008 Foley & Lardner LLP • Attorney Advertising • Prior results do not guarantee a similar outcome • Models used are not clients but may be representative of clients • 321 N. Clark Street, Suite 2800, Chicago, IL 60654 • 312.832.4500