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The New Enterprise Forum
Vol. XXVIII, No. 3 • March 2013 www.NewEnterpriseForum.org
The Entrepreneur’s Link to Resources
NEF Stakeholder Members
NEF Entrepreneur Updates Advanced Cooling Therapy (March 2012)The Company has been working on their patents, with one approval, several pending, and more to file for the US and Europe. They have completed stage one of the process to obtain their CE regulatory marking for sales of medical devices in Europe, and hope to have stage two completed this summer. They have a convertible note offer outstanding, with $600K committed and a goal of $1.2M.
Vestaron (March 2012)In the past year Vestaron closed a series B round of financing with new investors. The Company’s peptide-based product was submitted to the EPA at the end of Q1 with expectation of approval in Q2 of 2013. They submitted a patent application on a formulation that improves product perfor-mance by at least 10-fold and scaled fermentation production from 750L to 5,000L with an increase in yield. In a separate effort, Vestaron was granted
See March Program, Page 2
GLEQ NewsGLEQ Business Plan Competition
Open Sign-up through Wednesday, March 27
Prizes of more than $220K
Categories for everyone: • New Business Idea
• Emerging Company • SmartZone Award
• Vision to Action Challenge
Categories just for Social Entrepreneurs: Pure Michigan Social
Entrepreneurship Challenge•New Business Idea
•Emerging Organization
Participants can switch to different categories until submissions are due in May.
More at www.gleq.orgSee GLEQ, Page 2
March program
Funding Until InvestableHow can a young firm pay for the growth and development they need in order to attract investors? And what do investors want to see before they will take the risk of investing? Our March meeting panel will tackle the dilemma -- and suggest methods and means you may not have considered
Panel of ExpertsGregg Hammerman, LarkyGregg is a serial entrepreneur whose previous ventures include TechStreet, a website that provides tech profession-als with e-access to indus-trial codes and standards (acquired by Thomson Reuters); a four-year stint helping to grow an early-stage electronic medical records company from a SE Michigan startup to a national presence; and most recently. the co-founding of Larky, a developer of mobile apps that help consumers maximize discounts available to them through membership organi-zations, loyalty programs, and coupons from local businesses. Larky landed $650K in an initial seed round in July 2012 with money coming from angel investors, the Michigan Microloan Fund, and the Michigan Pre-Seed Capital Fund.
Maria LaLonde, BizdomMaria is a serial entrepreneur who has founded
businesses in the recruiting, automotive, and real estate industries. Her role at Biz-dom, a start-up accelerator in Detroit and Cleveland, is to raise awareness about Biz-dom in the community and to vet candidates. She also
Support our stakeholder companies! They are working actively to enhance the entrepreneurial community in southeast Michigan!
See Entrepreneurs, Page 2
Gregg Hammerman
Maria LaLonde
March 2013 2
Board of Directors
Become a Member • Stakeholder $500 • Corporate $275 • Individual $100 • Student $25 For details of category benefits
and payment of membership fees, visit www.NewEnterpriseForum.org
Join Our Program Committee*
All are welcome!8 a.m., A2Y Regional Chamber
115 W. Huron, Third Floor, Ann Arbor, MIAddress questions about Program Com-
mittee or becoming a Showcase Presenter to Committee Chair Stew Nelson,
*Our next Program Committee meeting is Thursday,
March 28, 2013.
© 2013 New Enterprise Forumwww.NewEnterpriseForum.org
March Program, Continued from Page 1
Gerry Roston, PresidentPair of Docs Consulting, 734/516-6715, [email protected]
William McPherson, Vice PresidentMcPherson Commercial Capital, LLC734/[email protected]
Stewart Nelson, VP Programs/Program ChairKapnick Insurance, 734/ 994-9099 [email protected]
Joan Hutchinson, SecretaryWrite on…, 734/[email protected], writeonA2.com
Gary Hessenaur, TreasurerHessenaur & Assoc., CPA, PC810/231-2050 or 734/663-9306 [email protected]
Steve Field, Membership ChairTrenton Corporation734/424-3634 [email protected]
Francis Glorie, Publicity ChairGlorie Associates734/846-0407, [email protected]
Melissa Wong AagesenCetare Ventures734/929-4396, [email protected]
Shannon BeemanThe Whole Brain Group 734/919-0431, cell 734/323-0539 [email protected]
Lauren BigelowGrowth Capital Network734/ 678-5161 cell, [email protected]
Ian Charles Boleyn Advisory Group Inc. 734/437-0724, [email protected]
Diane DuranceGreat Lakes Entrepreneur’s Quest734/255-3183, [email protected]
Helen EwingThe Ewing Group, 810/[email protected]
Adrian FortinoShepherd Intelligent Systems734/ 212-1098, [email protected]
Lee GormanBarton Consulting Services, 734/[email protected]
George C. LevyGDI Infotech, Inc. (retired, but active)734/657-6464, [email protected]
Bill MayerAnn Arbor SPARK734/821-0072, [email protected]
Alain PietteMI-SBTDC248/931-3886, [email protected]
Claudia RastButzel Long734/213-3431, [email protected]
Ray WatersDetroit Development Fund313/[email protected]
Other March EventsMarketing Roundtable:Who is your Customer?
Regional talent discuss topics ranging from brand strategy to social media, financial ac-
countability to guerrilla marketing.Tuesday, March 12, 5-7 p.m.
SPARK Central, 330 E. Liberty, Lower Level, Ann Arbor
www.annarborusa.org/events
SBIR/STTR Proposal Prep National Science Foundation
In-depth instruction on preparing a competitive SBIR/STTR proposal Wednesday, March 20, 9 a.m.-3 p.m.
BBCetc, 803 N. Main Street, Ann Arborwww.bbcetc.com/event/sbirsttr-proposal
-prep-nsf-focus/
GLEQ, Continued from Page 1
Entrepreneurs, Continued from Page 1
advocates for the startup community, mentors, and connects entrepreneurs to available re-sources. She has a BA in Communication from MSU and started her career with Enterprise Rent-A-Car, where she oversaw the recruiting process and managed 35 branch offices.
John Swiatek, CEO, Coliant Corp.As a child, John loved deconstructing elec-tronics to see how they worked. He received
first place for electronics in the Michigan Industrial Education Awards com-petition after high school, got his electrical engineer degree from Lawrence Tech in 1985, then worked at Chrysler for 13 years before the entrepreneurial bug bit.
He never looked back. A motorcycle enthusiast, John recognized the need for a system to power electronics and developed Coliant’s Corp.’s Powerlet products in his basement. The award-winning products are now sold in 67 countries. The firm designs, markets, licenses, and sells innovative products for open-cabin vehicles, mostly in the powersports industry, but also for industrial and military use. ModeratorAdrian Fortino, VP First Step FundAdrian’s entrepreneurial ex-perience includes launching three technology start-ups: Co-founder of Shepherd Intelligent Systems, SideCar, and FlockTAG, where he de-veloped the business models, raised over $3 million from angels and VCs, and led product development and launches in national markets. In his current position at First Step Fund, a seed- and early-stage investment fund focused on technology and high growth companies in SE Michigan, he is responsible for all aspects of investments with an emphasis on high tech and clean tech startups.
Showcase PresentationShowcase Presenter this month is AdAdaptive, which is developing a platform that allows advertisers to work with developers to create and strategically place ads in things like mobile video games, i.e., an in-app product placement. The 4-month-old start-up received financing from the Michigan Microloan Fund in October 2012 and won the first-place award of $2,000 in the New Business Ideas category at ACE ’13.
As always, we will have great hors d’oeuvres and networking before and after the program. Please plan to join us: Thursday, March 21, Holiday Inn North Campus, 3600 Plymouth Road at US 23, Ann Arbor. See you then!
broad patent claims on a synthetic insecticide class in a competitive space. They have also filed a patent application to protect their technology on the expression of Vestaron peptides in plants and have hired an additional scientist to expand efforts in this area.
TherapyCharts (January 2011)TherapyCharts continues improving operations: They tripled sales since December after adding two sales staff, completed integration work with an insurance clearinghouse to alleviate the need for customers to use multiple programs to man-age their practice, and are working to offer the Wiley Homework planners as a powerful tool for clinicians to create positive change with their patients.
John Swiatek
Adrian Fortino
3 March 2013
Entrepreneur Awards“The Best of 2012”
NEF Entrepreneur of the YearDaniel R. Rhodes, Cofounder and CEO, Compendia BioscienceCompendia, a pre-eminent cancer bio-informatics company widely used by the pharmaceutical industry to identify novel gene targets for drug discovery and development, was acquired by Life Technologies (NASDAQ: LIFE) in October 2012. The company will remain in Ann Arbor.
The New Enterprise Forum reviews business plans to determine the readiness of entrepreneurial ventures for presentation to the group. No independent investigation of claims or representation is made. Applicable securities laws place certain limitations on the manner in which an offer to sell securities may be made and on solicitations and advertisements to sell securities. Failure to comply could result in the loss of the private offering exemption. The New Enterprise Forum can assume no responsibility for the form or content thereof.
L A S T M E E T I N G H I G H L I G H T S
Showcase PresentationONL TherapeuticsRaili Kerppola, CEO
The Company is an ophthalmic pharmaceuticals R&D firm developing therapeutics to prevent vi-sion loss due to photoreceptor cell death. ONL’s patent-protected technology is indicated for both acute retinal disorders and chronic diseases such as age-related macular degeneration (AMD), diabetic retinopathy, and retinal detachment.
These are markets with billion-dollar sales potential. Product development is on a rapid, low-cost and low-risk path to clinical proof-of-concept.
Current products in the market either do not address these targeted indications or treat other aspects of the disease, thereby providing ONL a unique opportunity. The Company plans to develop prod-ucts to human proof-of-concept stage and exit via company sale to a larger pharma company to complete further clinical studies and commercialization. The market is attractive to acquirers because of high unmet medical need, large and expanding patient populations, a targeted physician audience, and excellent pricing and investment return opportunities.
Company funding to date includes $600K in grants and $80K from the founders. ONL is seeking an angel investment of $300K for formulation, manufacturing and safety studies, as well as IP protection. For more information, email rkerppola@gmail or call 734/741-1683. Read more about ONL at http://www.concentrate-media.com/innovationnews/onltherapeuticsannarbor0198.aspx and http://neweconomyinitiative.cfsem.org/onl-therapeutics-blindness-prevention-drug-attracts-dept-of-defense-attention
February Meeting Sponsor: Partner GLEQ
Thank You!
MCRN SCIP Announces Winner, Seeks New Applicants
The Michigan Corporate Relations Network in February 2013 an-nounced the winner of their Small Company Innovation Program. awarding $38K+ to Kalamazoo-based RealBio Technologies to aid the development of their in vitro tumor model technology. Learn more about the company at http://www.realbiotechnology.com/
Individual SCIP projects are funded at matches of 20K to $40K. Partici-pating companies supply a 1:1 match of funds, for a total project budget up to $80K Member universities supply funds to cover all indirect costs. MCRN and SCIP are seeking Michigan companies for the next round of funding. The deadline to submit a proposal is May l, 2013. For more information on how to submit, visit www.michigancrn.org/scip.
Best Presentation (September)Patient Provider Communications Jon Baugh, CEO
PPC is developing an innovative, patented, healthcare communication technology, Eloquence™, that pro-vides patients with immediate and bi-directional remote communication with their care providers and hospital nursing stations.
Raili Kerppola
Best Technology (October)Histosonics, Christine GibbonsA medical device company develop-ing histotripsy, a non-invasive, image guided robotic tissue ablation tech-nology that will replace traditional surgical and minimally invasive methods to reduce patient trauma and health care costs.
Best Business Model (March)Advanced Cooling Therapy Erik Kulstad
The Company is developing disrup-tive technology to control patient temperature after cardiac arrest, during surgery, and in the intensive care unit.
N E X T M E E T I N G : T h u r s d a y , M a r c h 2 1 , 2 0 1 3
“ F u n d i n g U n t i l I n v e s t a b l e ”
New Enterprise Forum115 W. Huron at Main, 3rd FloorAnn Arbor, MI 48104March 2013
Inside:
• March Program: “Funding Until Investable” Showcase Presentation by AdAdapted • NEF Entrepreneur Updates March 2012 Presenters and others
• GLEQ News
• Last Meeting Highlights
• Get Involved in NEF!
Thank You to Our Program Partners...
www.gleq.org www.a2ychamber.org
Showcase PresenterAdAdapted
Presenter, Molly McFarland
The Company is developing an advertising platform that allows advertisers to work with developers to create and strategically place ads in things like mobile video games, i.e., an in-ad product placement.
Featured SpeakersPanelists
Gregg Hammerman, LarkyMaria LaLonde, Bizdom
John Swiatek, ColiantModerator
Adrian Fortino
Learn from our panel of serial entrepreneurs how young firms can pay for the growth and development they need
before they are able to attract investors.
Open ForumBrief turn at the mic
to introduce your business, marketingstrategy, and present resource needs.
Meeting SponsorStakeholder
Bizdom
Holiday Inn North Campus • 3600 Plymouth Road at US-23 • Ann Arbor, MIRegistration and networking begin at 5:00 p.m., program at 5:45 p.m.
Non-members $20 at the door, students $5
