DC “Networking Jackpot” – Big Idea CONNECTpreneur Fall Forum, September 13, Tysons Corner

LORE SYSTEMS is pleased to host our quarterly Big Idea CONNECTpreneur Forum, one of the most exciting angel and entrepreneurship networking forums in the DC Region on September 13, 2012 at the Tysons Corner Marriott.

InTheCapital called our June Forum “The Best Networking Event in DC.”

We also appreciate InTheCapital’s latest article on our upcoming Fall Forum: “Three Reasons Why You Should Attend the Big Idea CONNECTpreneur Forum.”

Please come out!  CLICK HERE to Register via the Eventbrite link.

The Big Idea CONNECTpreneur FALL Forum is a “NETWORKING MASHUP” of 210+ of the DC Region’s TOP Entrepreneurs, Business Leaders, CXOs, Angels, and VCs.  Most of the attendees are “INVITATION ONLY,” and we are limiting service provider participation in order to maximize the experience for our Attendees and Sponsors.

Presented by LORE Systems, this UNIQUE EVENT is like NONE OTHER in our region, due to the high quality of our attendees and participants, as well as our program and unprecedented networking.

Come see what happens when you put a group of “A List” business leaders and entrepreneurs in one room for a few hours!

Program Highlights:
  • Over 210 attendees, includng 120+ CEOs/Presidents and 40 angels/VCs
  • Conversation with CEO, VC Advisor, & Angel Investor Christopher M. Schroeder
  • Discussion with UBER Tech Entrepreneur David A. Steinberg
  • SHOWCASE of Emerging tech companies
  • NETWORKING sessions before, during, and after the event
The venue is the Tysons Corner MARRIOTT.  A plated breakfast and unlimited coffee are included.

FINAL AGENDA
7:00–8:00 am – ARRIVAL / NETWORKING
 
8:00 – 8:10 am – WELCOME
 
8:10 – 8:45 am – Conversation with Christopher Schroeder,
Renaissance Man, Entrepreneur, CEO, Advisor, Angel Investor, and Author
Author, Arab Inc(ubate)
Co-Founder and CEO, HealthCentral, formerly DrKoop.com (an InterActiveCorp company)
CEO, Washingtonpost.Newsweek Interactive
CEO, LEGI-SLATE
 
8:50 – 9:25 am  –  Conversation with David A. Steinberg,
UBER Tech and Marketing Entrepreneur
Chairman & CEO, CAIVIS Acquisition Corp.
Founder, Chairman & CEO, InPhonic / Simplexity (NASDAQ:INPC)
9:30 – 9:45 am – NETWORKING BREAK
9:50 – 11:15 am – COMPANY SHOWCASE
11:30 am – NETWORKING
CONFIRMED PARTICIPANTS (partial list):
Over 120 CEOs/Presidents, plus 40+ angel and VC investors including New Enterprise Associates, Novak Biddle, Core Capital, CIT, Blu Venture Investors, Blue Water Capital, Dingman Center Angels, Neuberger & Co. Ventures, Saratoga Investment Corp., Washington DC Archangels, Angel Venture Forum, Fortify.vc, Endeavor DC, Maryland Venture Fund, National Capital Companies, Enhanced Capital, White Hall Capital,  MTECH Ventures, Mosaic Capital, Opus8, VentureCross Partners, McLean Capital, Starise Ventures, Blue Heron Capital, Duncaster Investments, Private Capital Network, Next-Stage Development Group, Berman Enterprises, Grindstone Partners, Next Stage Development Group, Atlantic Capital Group, Lancaster Angel Network, Harrell Partners, Stanford Venture Advisors, MD Center for Entrepreneurship, Skada Capital, Great Falls Capital, Bayberry Capital, Hafezi Capital, Keiretsu Forum, and CADRE.
EVENT SPONSORS:  
 
LORE Systems
BDO
Wilson Sonsini
Deloitte.
Cooley LLP
Meltzer Group
AH&T Insurance
McBride Real Estate
Ryan & Wetmore
Washington, DC Archangels
Dingman Center for Entrepreneurship
Angel Venture Forum
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“The Best Networking Event in DC” – Big Idea CONNECTpreneur Summer Forum, June 6, Tysons Corner, VA

LORE SYSTEMS is pleased to host our quarterly Big Idea CONNECTpreneur Forum, one of the most exciting angel and entrepreneurship networking forums in the DC Region on June 6, 2011 at the Tower Club in Tysons Corner, VA.

InTheCapital calls this Forum “The Best Networking Event in DC.”

Please come out!  CLICK HERE to Register via the Eventbrite link.

EVENT IS NEARLY SOLD OUT!!

The Big Idea CONNECTpreneur Summer Forum is a “NETWORKING MASHUP” of 165+ of the DC Region’s TOP Entrepreneurs, Business Leaders, CXOs, Angels, and VCs.  Most of the attendees are “INVITATION ONLY,” and we are limiting service provider participation in order to maximize the experience for our Attendees and Sponsors.

Presented by LORE Systems, this UNIQUE EVENT is like NONE OTHER in our region, due to the high quality of our attendees and participants, as well as our program and unprecedented networking.

Come see what happens when you put a group of “A List” business leaders and entrepreneurs in one room for a few hours!

Program Highlights:
  • “TURBOCHARGING Entrepreneurship” Discussion
  • “ART OF THE PIVOT” with “UBER” technology entrepreneur Reggie Aggarwal of CVENT
  • 9 Emerging tech companies seeking funding will briefly tell their stories
  • Networking sessions before, during, and after the event
The venue is the Tower Club in Tyson’s Corner, Northern Virginia’s premier private business club.  A plated breakfast and unlimited coffee are included.
AGENDA
7:00–8:00 am – ARRIVAL / NETWORKING

8:00 – 8:05 am – WELCOME

8:05 – 8:45 am – SESSION 1 – “TURBOCHARGING ENTREPRENEURSHIP IN THE DC REGION” with Uber entrepreneur and angel investor Doug Humphrey, CEO and Founder, CIDERA;  Co-Founder, DIGEX

8:45 – 9:20 am  –  SESSION 2 – “THE ART OF THE PIVOT” with Uber entrepreneur Reggie Aggarwal, Founder and CEO of CVENT
9:20 – 9:45 am – NETWORKING BREAK
9:45 – 11:30 am – SESSION 3 – COMPANY PRESENTATIONS (all confirmed)
AthleticMD
DeviceCloudNetworks
Glimpulse
HITCH
11:30 am – NETWORKING (ATRIUM)
EVENT SPONSORS:  

InvestMaryland Wins Big, Raises $84 million for VC program

Last week, the State of Maryland became the first state in the USA to use an online auction to raise funds for a venture capital program.  The auction yielded $84 million, a whopping 20% more than the original forecasted goal of $70 million.  On September 24, 2011, I wrote a brief summary of the InvestMaryland program.

InvestMaryland will invest in the State’s promising start-up and early stage companies, as early as this summer.  The $84 million raised was generated through an online auction of premium tax credits to 11 insurance companies (including Hartford Insurance, New York Life, Chubb, GEICO, and Met Life) with operations in Maryland.  The inaugural round of investments will be made in innovative companies this summer through several private venture capital firms and the State’s successful Maryland Venture Fund (MVF),

Said Governor Martin O’Malley, “Our State is well-positioned to be a leader in the new economy as a global hub of innovation – a leader in science, security, health, discovery and information technology. That’s why last year, together with business leaders from across the State and the General Assembly, we chose to invest in our diverse and highly-educated workforce and the skills and talents of our people for the jobs and opportunity of tomorrow.”  

The InvestMaryland program is being implemented through the Maryland Venture Fund Authority, on which I am very proud to serve, as well as the Maryland Department of Business and Economic Development (DBED).

Earlier this year, the Authority selected Grant Street Group to prepare for and run the tax credit auction and also recently selected Altius Associates, a London-based firm, to oversee the selection of three to four private venture firms to invest the InvestMaryland funds. The private venture firms will be responsible for investing two-thirds of the funds, which will return 100 percent of the principal and 80 percent of the profits to the State’s general fund. The remaining 33 percent will be invested by 17-year-old Maryland Venture Fund (MVF).  The Maryland Small Business Development Financing Authority (MSBDFA) will also receive a portion of funds for investment. Returns on the funds invested through the MVF will be reinvested in the program.

InvestMaryland has the potential to create thousands of jobs in Innovation Economy sectors – life sciences and biotechnology, cyber security/IT and clean/green tech and attract billions of follow on capital.

Maryland has an outstanding infrastructure to support an Innovation Economy. The Milken Institute ranks Maryland #2 in the nation for technology and science assets. According to study results, while Maryland received high rankings in human capital investment, research and development inputs, technology and science workforce, and technology concentration and dynamism, it lagged behind other states in risk capital and entrepreneurial infrastructure, demonstrating the need for InvestMaryland and other programs.

How will Altius select the Venture Capital firms?  Altius will be evaluating venture capital funds based on management experience, firm experience, investment performance and criteria defined in the legislation.

When will the firms be selected?  Venture capital firms will be selected starting June/July 2012 for a projected18-month period and make first round of investments in summer 2012.

What is the investment return to the State? The selected venture firms will return 100 percent of the principal investment by the State before taking any distribution of profits and will then pay 80 percent of the profits to the State.  Any returns on investments made through the Maryland Venture Fund go back into the fund for an evergreen program.

What is the projected average investment with venture capital companies? Investment will likely range from as low as $250,000 upwards to $10M.

Is there investment funding available from MVF?   Maryland Venture Fund will continue to invest in early stage companies (tech, biotech, clean energy) from $50,000 to $500,000 as initial investments.

Maryland Venture Fund Authority (MVFA) will perform a monitoring role to ensure that  investments and reporting meet the legislative guidelines.

In summary, as a member of the MVFA, and as a resident and business owner in Maryland, I am very excited to see this InvestMaryland program being implemented:

  • This program brings great benefit for taxpayers.  It helps create the jobs and companies of tomorrow and builds an economic climate where the most promising ideas and innovations have a chance to mature.
  • This is a win-win for all constituencies within the State of Maryland. Through this initiative, we can:
    • Infuse much needed capital into our seed and early stage companies
    • Recapitalize the State’s successful Maryland Venture Fund
    • Ensure no up-front cost to taxpayers
    • Provide a tax benefit to insurance companies who bid today, who can begin claiming credits in 2015.

Thanks for reading.  I’d appreciate any Comments or feedback you may have on InvestMaryland.

Featured image courtesy of Anosmia via Creative Commons.

Persistence and Commitment at HONEST TEA, a guest post by Marissa Levin

Guest Blog Post from Marissa Levin, CEO of Information Experts and Founder of Successful Culture, a new business dedicated to helping entrepreneurs and business leaders build successful cultures within their organizations.

Marissa was a guest at Lore Systems’ Big Idea CONNECTpreneur Spring Forum on March 7, 2012 and Seth Goldman, Co-Founder and TeaEO of Honest Tea, was one of our featured speakers on the “Entrepreneurship with a Higher Purpose” panel.

This post was written on March 13, 2012 and can be found on Marissa’s awesome new Blog, Successful Culture.

Honest Tea CEO Seth Goldman Takes Persistence & A Commitment to Mission to New Heights

Imagine pitching your idea to 1,000 investors. Over and over and over again. A little insane, right? Not if you’re Seth Goldman, TeaEO of Honest Tea. When we think of Honest Tea, we think of a delicious beverage, and a wildly successful business.

Dig a little deeper into the roots of Honest Tea, and you’ll discover an entrepreneur who is forever committed to the mission of “changing the way people eat, drink, think and live.”

Seth shared the struggles of his early days with 300 business leaders at the sold-out ConnectPreneur Event in the DC region, architected by global serial entrepreneur and angel investor Tien Wong, CEO of Lore Systems (www.lore.net).

Building an Empire One Brick at a Time

As a bootstrapped entrepreneur who has never sought outside funding, I was amazed at Seth’s relentless quest for angel investments when he launched Honest Tea. “I did over 1,000 pitches and landed 120 angel investors. I took $25,000 at a time,” Goldman said. “There were plenty of times when I was financially out of business. But you need just enough fumes to keep things going.”

The question on everyone’s mind – which was asked – was, “How did you keep going?” All entrepreneurs seek the answer to this question from others that travel the path of business ownership. What is the magic bullet -the secret sauce – that gives us the strength to keep pushing when we are seemingly out of options?

Always Return to the Mission

“What kept me going is I always believed and still believe in my mission. I believe we have to change the way we eat, drink, think, and live. Quitting was never an option.”

In addition to the initial 1,000+ calls, Goldman had to ruthlessly follow up with potential investors. Follow-up apparently is just as important as the initial contact.

“You need to be ruthless with your follow-up. You can’t ever quit. Your follow-up is a good indication of your commitment to what you are trying to build, and to your work ethic. Some we talked to for years before they came on,” he said.

Seth’s tenacity is an inspiration to anyone trying to make their entrepreneurial mark. Equally inspiring is his commitment to his core values, and his refusal to relinquish what matters most to him – providing healthy products that consumers feel good about drinking.

Coca-Cola now owns 40% of Honest Tea. The mammoth company’s management is like a bull in a china shop. This, however, doesn’t sway Goldman from his values. “Coca-Cola wanted me to remove “No High Fructose Corn Syrup!” from our labels. I asked if this was a legal or regulatory requirement, and it wasn’t,” he explained.

Goldman continued, “Because their products contain this ingredient, our label wasn’t a positive reflection of their brand. I refused to remove it it. The discussion made its way to the very top of the executive ladder, and I refused.”

Finally, Coca-Cola relented, and conceded that as a minority owner, they couldn’t force Honest Tea to remove the labeling.

All Natural Ingredients for Successful Entrepreneurship

Goldman boiled successful entrepreneurship down to the two basic tenets that we all inherently know: 1: A steadfast, laser-focused, driven commitment to what we are building, in which we will do whatever we need to succeed, and 2: A passionate belief in the change we are trying to make.

Thanks to Tien Wong (follow him on Twitter: @tienwong, and subscribe to his blog – Winning Ideas at (http://tienwong.wordpress.com/) for helping to quench the entrepreneurial thirst for learning with a great event!

And thanks to Seth Goldman (@HonestTea) for showing us what happens when you never ever ever ever ever give up.

Patience, persistence and perspiration make an unbeatable combination for success.” ~Napoleon Hill

Big Idea CONNECTpreneur Spring Forum, March 7, Tysons Corner, VA

LORE SYSTEMS is pleased to host one of the most exciting angel and entrepreneurship networking forums in the DC Region on March 7, 2011 at the Tower Club in Tysons Corner, VA.

Please come out!  Here’s the Eventbrite link:  http://connectpreneur1.eventbrite.com

The Big Idea CONNECTpreneur Spring Forum is a 1/2 day “NETWORKING MASHUP” of the DC Region’s TOP Entrepreneurs, Business Leaders, CXOs, Angels, and VCs.

Come see what happens when you put a group of “A List” business leaders and entrepreneurs in one room for a few hours!

This UNIQUE EVENT is like NONE OTHER in our region, due to the high quality of our attendees and participants, as well as our programming and unprecedented networking.

The Big Idea CONNECTpreneur Forum is an exclusive “mashup” of 170+ of the DC Region’s top entrepreneurs, business leaders, CXOs, angels and VCs.
Most of the attendees are “INVITATION ONLY,” and we are limiting service provider participation in order to maximize the experience for our Attendees and Sponsors.
Program Highlights:
  • “Hypergrowth – Zero to $500 million in 8 years” discussion
  • “Entrepreneurs with a Higher Purpose” panel
  • 8 Emerging companies seeking funding will briefly tell their stories
  • “Disruption, Disintermediation, and Destruction” luncheon discussion
  • Networking sessions before, during, and after the event
The venue is the Tower Club in Tyson’s Corner, Northern Virginia’s premier private business club.  A plated brealkfast and plated lunch are included.
AGENDA7:00–8:00 am – ARRIVAL / BREAKFAST / NETWORKING

8:00 – 8:05 am – WELCOME

8:05 – 8:45 am –  “HYPERGROWTH – ZERO TO $500 MILLION IN 8 YEARS!” – a conversation with Tony Jimenez, Founder and CEO of MicroTech
8:45 – 9:30 am  –  “ENTREPRENEURSHIP WITH A HIGHER PURPOSE”
Jim Cheng, Secretary of Commerce, Commonwealth of VA; Founder and CEO, Computer Hi-Tech Mgt, “Entrepreneur Turned Public Servant”
Dr. John Holaday, CEO, QRx Pharma, an ex-Army officer, Professor, and serial entrepreneur who has founded and taken 3 companies public, “Entrepreneur Seeking a Cure for Cancer”
Seth Goldman, Founder and TeaEO, Honest Tea, beverage industry innovator, “Entrepreneur  leading the Green Movement”
9:30 – 9:45 am – NETWORKING BREAK
9:45 – 11:30 am – COMPANY PRESENTATIONS
Fresh Tax
Pixspan
11:30 – 11:45 am – NETWORKING BREAK
11:45 – 1:15 pm – LUNCHEON DISCUSSION – “DISRUPTION, DISINTERMEDIATION, AND DESTRUCTION”
Duke Chung, Founder of Parature, CRM industry pioneer
Mark Walsh, Founder and CEO, GeniusRocket;  Chairman, DIngman Center for Entrepreneurship;  Chairman of the Board of Trustees, Union College;  Founder and CEO, VerticalNet
John Backus, Managing Partner of New Atlantic Ventures, Founder of Draper Atlantic Venture Fund, former CEO, InteliData
1:15 pm – MORE NETWORKING AND DEALMAKING
CONFIRMED PARTICIPANTS (partial list):
Over 110 Entrepreneurs and CXOs, plus another 40+ angels and VCs including Core Capital, Novak Biddle, New Atlantic Ventures, CIT, Capital Source, NEA, Maryland Venture Fund, MAVA, MTECH Ventures, Maryland DBED, Ruxton Ventures, Opus8, VentureCross Partners, McLean Capital, National Capital, Starise Ventures, Dingman Center Angels, Blu Venture Partners, Blue Heron, Washingon DC Archangels, Fortify.vc, Endeavor DC, Private Capital Network, APPTEL, Stanford Venture Advisors, MD Center for Entrepreneurship, SunWalker Group, Skada Capital, Keiretsu Forum, CADRE.
EVENT SPONSORS:  


Tien Wong’s 2012 Predictions as Published in WashingtonExec

Happy New Year!  I’d like to say a special Thank You to JD Kathuria and my friends at WashingtonExec for publishing my look into the crystal ball for 2012.  Here is the Post:

Tien Wong, Chairman and CEO of Opus8

2012 is here, and with it comes big changes for the Federal IT industry.  WashingtonExec gave local executives the opportunity to share their thoughts on where they see the government contracting industry headed.

Tien Wong, Chairman and CEO of Lore Systems and Opus8, gave WashingtonExec six factors that he believes will affect the 2012 Washington, D.C. entrepreneur and government contracting communities.

1.  IT SPENDING and THE ECONOMY - IT spending will increase both in commercial and government sectors, particularly in infrastructure, cloud, and mobility.  We have seen an uptick in business at Lore in the last quarter particularly from our commercial clients.  In conversations with many clients, I believe that overall confidence in the economy is improving a lot!

2.  PRESIDENTIAL ELECTION - Obama will be re-elected.  If the economy is improving, that favors Obama.

3.  STARTUPS - Startups in the DC region will continue to blossom.  The ecosystem is as active and sanguine as it has been in the past 10 years.  You are seeing groups like Startup America, Startup Maryland, Startup VirginiaFounderCorps, and established and new incubators take a keen interest in our region.  Angels are investing, and groups like Virginia’s CIT and Maryland’s DBED will be investing new allocations of seed money.

4.  CLOUD COMPUTING – Cloud adoption in the federal government will accelerate both internally via virtual private clouds, and via commercial providers with new FedRAMP guidelines and the award of commercial Infrastructure as a Service (IaaS) contracts (GSA’s IaaS and the Army’s APC2, for example).  The economic and performance benefits are far too great for cloud not to be aggressively adopted well into the future.

5.  DATACENTER CONSOLIDATION – Regarding the federal government’s datacenter consolidation efforts, the government will successfully close many datacenters.  However, I doubt they will hit their goals in 2012  because many individual application owners and datacenter operators are not as cooperative in providing information and complying.  Further, there’s a cost to consolidating and there are limited funds to achieve this, so you’ll likely see a lot of funding come out of O&M budgets.

6.  SMALL BUSINESS – Because of drastically reduced budgets, the government will rely on small business and entrepreneurs for creative ideas to cut costs, drive productivity, and improve performance. The DoD customer has been very open to the commercial best practices Lore is bringing to the table re: datacenter consolidation and application migration.  In addition, small business is more nimble and unencumbered by the fixed costs of the “Bigs,” so we can offer creative pricing structures, and ways for the government to buy from us.  We will see more firm fixed price offers, and shared-risk pricing, which inevitably will save the taxpayers money.

Please let me know what you think about these predictions. Thanks for reading, and please subscribe to my Blog!  All the best for an awesome 2012!

Featured image courtesy of Mike Licht, notionscapital.com, licensed via creative commons.

If You Could Give Your Kids ONLY 3 Pieces of Advice…


IF YOU COULD GIVE YOUR KIDS ONLY 3 PIECES OF ADVICE, WHAT WOULD THEY BE?

This question was posed as an “Icebreaker” to our Forum meeting a few weeks ago.

Think about it.  Of all the DOZENS of great ideas you’d like to give your children, what would be the TOP THREE?

Here are mine:

1.  THINK for yourself – To live a fulfilling life, you have to think independently.  This is how you can create a world of limitless possibility.  Question everything!  It’s OK to listen to “conventional wisdom” and advice that people give you, but YOU have to ultimately form your own opinions.  This is what the best LEADERS do, whether they are leading a company, a family, or their own lives.

2.  Always maintain your INTEGRITY – In the end, you have only 2 things:  your memories and your name.  And your name and reputation live on.  By keeping your promises and doing the RIGHT THING, you will sleep soundly at night and have peace of mind.

3.  Find your PASSION and give 100% – Life is very short.  You don’t have much time, so make the most of it by doing what you LOVE and giving your ALL.  It’s not easy to find your passion. Maybe the search will be painful and long, but you will find it at some point.  And the feeling of satisfaction knowing you have given 100% brings tremendous contentment.

My Forum Brothers all had awesome Advice as well:

Find Yourself.  Be True to Yourself.

GIve and Get Love.

Be Present – Take in the Moment.

Work Hard

Enjoy Life

Be Respectful

Listen Carefully to Advice Along the Way

Modulate Your Emotional Highs and Lows

Embrace Difficulties and Hardship – They are a Catalyst for Growth

Love Your God and Love Your Neighbor as Yourself

Find a Life Partner Who Shares Your Values and Life Experience

In Your Profession: Be Good at It, Enjoy It, and Make Sure It Pays Well

What Top 3 pieces of advice would YOU give to YOUR kids?

Thanks for reading, and please subscribe!

Featured image courtesy of aldrin_muya licensed via creative commons.