04:16:49
Now that it's December of ITEN's first full year of operation, we've got a lot to be thankful for and a lot more that we can and will do. Having over 100 companies involved in ITEN is quite an accomplishment, and one we can all be proud of. 70 volunteer mentors are active in ITEN, bringing a very high level of quality advice and insight to the ventures they work with. We've staged some cool events; the Investor Speed Dating in November was probably the most innovative and one that we'll do again next year. That event marked a rite of passage so to speak, in that it marked the beginning of our inclusion of investors into the Network in a formal way. Investors are the third necessary "ingredient" after mentors and start-ups, for creating the kind of network that can really help bring up the level of entrepreneurial activity in our region. I don't think I'll surprise anyone by saying we don't have a huge number of early-stage investors here in the region that are actively investing in IT/internet/software companies; so we'll be working to bring out of town investors into ITEN via the website. Among other things, investors registered on the site can connect with the graduates from our Mock Angel Training Program. We've got 5 graduates from the program now, and all 5 are making significant progress getting their ventures off and running.
We've got some major enhancements to the program that will be made in 2010. The first one, which is just now available for use, is a new option for companies to select mentors. When a company selects "Mentor Match," they will have the option of requesting help from a volunteer team by selecting **Help Me Choose**. Companies will get advice on which mentors the volunteer team thinks would be a great fit for the company requesting a mentor. **Help Me Choose** will be an available option for any requested expertise chosen in Mentor Match. Jeff Zimmerman is leading this new initiative, that also includes Francis Chmelir, Tom Dopheide and Jing Wang. They're beginning to make the rounds to meet the mentors they don't personally know in order to help companies make great mentor selections.
The next addition to the Network is going to be enabling C-Level candidates to have a formal way of joining the Network. These will be people who, because of their training and experience are candidates for becoming the CEO, COO, CFO, Board Chairman, etc., of a start up company. Many ITEN companies need such expertise in their companies, so the C-Level interface, coming soon to the website, will be a way companies and investors can connect with these experienced individuals. Besides a separate portal into the website, C-Level candidates will be pre-screened by ITEN in a way that will be clarified soon.
We've begun the early work on a new program that will complement our Mock Angel Training and our Beta Program. This will be a B2C program, designed to directly help ITEN companies that need to reach segments of the consumer market. We will be assembling a great group of mentors who have significant expertise in advertising, search engine optimization, marketing strategy and other skills that are critical for success in the consumer marketplace. We hope to roll out this program in Q1.
After we've got those enhancements stabilized, probably sometime in the second half of the year, we'll create a new portal that will enable access into the website for universities and corporations who have developed intellectual property that they'd like to see a company formed around. Exactly how and when this will be enabled is still to be determined, but we see this as a logical extension of the development of the website and of the ITEN Network.
We're proud of what we've accomplished so far, and as you can see, the fun is not about to stop anytime soon! We'll keep at it, assuming resources are made available, remaking the image of St. Louis into one that is a vibrant center of technology entrepreneurship, and one that is the envy of many. Thanks for being a part of the Network, and for your continuing participation and support!! I believe 2010 will be a break-out year for ITEN and for a number of our ventures.
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