Indiana technology company and digital marketing agency Boost Media & Entertainment has signed a number of new clients, including some of Indy’s favorite eateries.
The latest additions are Mesh on Mass, Scotty’s Brewhouse and Skyline Club.
For Mesh and Skyline Club, mobile apps by Boost will allow patrons to peruse menus, specials, and photos, and even book tables directly from their smart-phones.
“Our clientele at Mesh is savvy and sophisticated, and our app is a great way to reach out to people like this, engage them and most importantly, keep them coming back in,” said Ben Bullard, director of communication at Mesh.
Jeff Markowicz, general manager of Skyline Club, said, “Boost is bringing us into ‘The Smart-phone Era.’ Which, if you haven’t noticed, is upon us in a big way.”
Fresh off a TechPoint Mira Award for New Media Innovation, Scotty’s Brewhouse is looking to continue its forward-thinking success by capitalizing on technology business trends and turning its VIP club digital. VIPs no longer need to carry a paper card in their wallet—instead, they can simply show the app on their smart-phone and enjoy VIP benefits and discounts.
“New media is all about reaching customers on their terms. The VIP app Boost is creating does just that. Their advice and skill in this area have been invaluable to us,” said Bruce McClain, director of technology for Scotty’s.
Other prominent restaurant customers include patrons of Boost’s successful Talk to Customers campaigns such as Tastings Wine Bar, Caracas Arepas Grill, and King David Dogs — all who say they gained invaluable measured marketing research and customer connection through an innovative online survey program.
Name: Jason Zickler
Company: Boost Media Entertainment
E-mail: jzickler@boostmediaentertainment.com
Jason is the CEO / Co-Founder of Boost. He has extensive design and project management experience in interactive graphics and new media. Jason has received seven Addy awards over the course of his career, as well as numerous other awards.
by David Castor Last night, I lectured on this topic (Funding Law) to my entrepreneurial capstone class at Purdue. It is possibly the most basic question for any Indiana technology startup looking to raise capital for an emerging business technology or other venture, but it is often not approached correctly. In my experience most entrepreneurs take a wild guess at their number.
The correct approach for Indiana technology companies is the same for almost every other kind of business, which is to look at your cash flow projections and determine it from there. For a new startup the goal is to get to "break-even" and beyond. For later stage companies, the projections may address strategic growth milestones. Either way, the cash flow proforma is the most important financial statement available to you.
If there is one thing I have learned in my entrepreneurial law practice it is that:
- Employees care about salaries
- Managers care about margins
- Banks care about net income
- Entrepreneurs care about cash flows
I have never seen a startup hit its first year projections. Entrepreneurs who do their homework should be able to be within 5% or so of their cost projections, but revenue projections are much harder to hit. Even with the best market research, strategic risk, random risk, dumb luck and unfortunate events cause revenue projections to miss their mark.
Most business plans build in contingencies for variable costs (or certain key fixed startup costs) based on revenue milestones being missed. Take these contingencies into consideration when determining how much capital you will need.
A few other thoughts:
1.) Know your A/R model. Whether you require payment up front or a long pay cycle will make a huge difference on your cash flow projections. Also, if your business model carries a lower realization rate on A/R, build in that strategic risk factor into your projections.
2.) Know your inventory model. This is especially important for manufacturing and distribution companies.
3.) Get an operating line of credit from a bank. This is extremely helpful for those payroll weeks where the company is short on cash. This happens to nearly all early stage start ups, and that is what lines of credits are intended to protect.
4.) Plan for taxes. Whether your company is a C-Corp or a pass through entity which is making tax distributions to owners, you need to figure these amounts (both as savings and payouts) in your cost projections. I see a number of early stage business plans that do not consider tax distributions in their cash flow proforma.
5.) Prepare for reserves. If your startup cash projections tell you that the business will bottom out at a negative $150k in month seven, do not plan to raise $150k. Determine the risks associated with your model, look at the revenue projection contingencies, and determine an appropriate dollars amount above and beyond the cash bottom out number to hold in reserves. Any sophisticated private equity investor will want (and expect) you to carry reserves.
The key for technology professionals, information technology businesses and others when raising capital from angel or private equity investors, is to be able to clearly explain why you need the money you are asking for. Use your cash flow proforma and refer to your sources and uses and be confident about how much you need.
Name: David Castor
Company: Alerding Castor Hewitt LLP
E-mail: dcastor@alerdingcastor.com
City: Indianapolis
State: Indiana
Independent radio stations find digital foothold with emerging business technology -- new live streaming mobile app
MyStationApp (www.MyStationApp.com) is a new Indiana technology innovation designed to connect fans to their favorite radio station live no matter where they are, by porting PLS streams (multimedia files) onto their smart phones.The app has struck a chord with independent stations such as WTTS in Indianapolis, which believes apps are a technology business trend that can enrich the relationship with their audience.
“Our goal is to be part of our listeners’ lifestyle. Our mantra is to think like listeners first and foremost, and MyStationApp nailed it,” says Brad Holtz, program director for Indiana-based AAA station WTTS.
MyStationApp is favored by indie radio stations because it features a low implementation cost and a short development time—under a week in many cases—yet can be completely customized by each station to create a one-of-a-kind product.
MyStationApp was developed by Indiana information technology company, digital marketing agency and software developer Boost Media & Entertainment (www.BoostMediaEntertainment.com) in Indianapolis.· WTTS racked up 1,500 downloads of its app in one week.
· MyStationApp uses streams with the AAC+ codec for Apple iOS devices.
· For Android devices, the app streams a 64k MP3.
· Complete apps are under 1 MB, meaning ultra-fast download and install times.
· App integrates with stations’ social networking efforts in Facebook and Twitter.
About Boost Media & Entertainment:
Boost Media & Entertainment is an Indianapolis-based digital marketing agency and software developer specializing in mobile and web-based applications. Boost created MyStationApp with guidance from Strategic Advisor Jason Acquisto. Acquisto has several years of experience in programming and sales at number of independent radio stations. Visit Boost’s website at www.boostmediaentertainment.com.
Name: Jason Zickler
Company: Boost Media Entertainment
E-mail: jason@zickler.com
City: Indianapolis
State: IN
The top story for today's news cycle is good news for the Indiana technology sector. Results from a survey of 4,000 business professionals throughout the state indicate that technology business trends are on the minds of many, and for all the right reasons.The Indiana Business Council survey, conducted through a partnership between Inside Indiana Business and Indianapolis-based Walker, revealed that tech companies expect customers to spend more in 2011 and that they plan to hire new employees to meet the increased demand of technology sector growth.
- 79% expect customers to increase spending in 2011
- 54% plan to add jobs in 2011 (which is much higher than overall expectations)
- 85% feel there will increased need for their technology products and services in 2011
"At Slingshot we are always trying to focus on, we gotta have something great to sell," Bailey said. "Being innovative I think is, for my company, always first and foremost. We want to have the most innovative product in search engine optimization for enterprise companies, so with that innovation we have something great to sell. So I would still put innovation at the top of my list but sales is right there under that because obviously sales drives growth."Indiana's tech sector has good reasons to be optimistic as the economy continues its climb out of recession because of its performance during the recession. Even during the height of the global recession, Indiana GAINED 1,200 new tech jobs, according to TechAmerica's Cyberstates report.
Investors are also betting on the Indiana tech sector and emerging business technology coming out of Hoosier companies. While venture capital nationally was at a 10-year low during the recession, Indiana grew venture investment by double digits, including a 70% leap in 2008.
During the interview on Inside Indiana Business, Kevin Bailey said that Indiana has great leaders that mentor startups and that the culture of Indiana's tech sector is collaborative and helpful to small technology businesses.
The golden ticket in 2011 will belong to those organizations that understand the fast track to growing a sustainable competitive advantage is directly linked to improving and investing in their Relationship Management strategy and supporting technologies. Although competitive advantage is defined and measured in numerous ways, the companies that are answering their consumers and employees demands to create unique and engaging relationships are the ones attracting, winning and retaining loyal advocates for their brand.However, the continual evolution of social media, mobility and improved web technologies radically challenges traditional relationship management strategies as consumers and employees are enabled now more then ever to interact with your brand, for good or for bad, 24/7 and at lighting speed. In order to create innovative ways to meet their consumer and employee demands for engaging, interactive experiences, many organizations became early adopters of social networking and mobility platforms for internal and external communications and have indeed found a “competitive advantage” in several areas as the McKinsey’s Quarterly stated in their Dec 2010 issue, The rise of the networked enterprise. McKinsey reported that of the organization’s that are leveraging social networking to improve customer relations, 50% reported increased customer satisfaction, 63% reported increased marketing effectiveness and 24% reported increasing revenue.
So, the real question when evaluating emerging business technology and your relationship management plan for 2011 is two-fold … 1) How and where are you engaging your customers and employees to help you define truly interactive experiences so their ideas can be heard and put into action?, and 2) Do you have the right technology, and staff in place to manage it, to collect, analyze and convert multiple sources of information into actionable knowledge that allows you to react quickly to their requests with bona fide personal experiences?
Join the conversation March 1 at the Indianapolis Hilton North for The New Era of Relationship Management, a half day event designed for business and technical executives to quickly gain high level insights into these evolving technology business trends and new tools being released in 2011 that can help you improve your approach to relationship management. Expert presentations and panel discussions will include Indiana tech sector executives from ExactTarget, Allegient, CWR Mobility, Scribe and Microsoft. Keynote speaker, Jeff Rohrs, ExactTarget’s Principal of Marketing Research will also reveal recent results from their acclaimed research series, Subscribers, Fan & Followers.
Take your relationship management from good to great in 4 hours. Make time March 1 and be apart of the technology sector trends discussion. Info and Registration: http://crm2011launch.eventbrite.com/
Name: Andy Brockett
Company: Allegient
E-mail: abrockett@allegient.com
City: Indianapolis
State: IN
We started 2011 with news around the proverbial water cooler focused on Facebook's $50 billion valuation. According to the Associated Press, the social networking site's value is about equal to the open market value of more well-established companies like Boeing and Kraft. The terms of the private offering of as much as $1.5 billion in shares of Facebook have changed as Goldman Sachs Group Inc., recently announced that it was restricting the offering of Facebook shares to non-U.S. citizens due to concerns that the media spotlight surrounding the private offering might violate U.S. securities laws and expose the firm to legal action. While the terms of the Facebook deal continue to evolve, there is little doubt that companies in the tech sector will continue to make front page headlines in 2011.Recently, we've seen a number of Indiana's tech companies rise in prominence. In fact, in December 2010, Lead411 announced its list of the Technology 500. To be eligible, companies must be privately held, headquartered in the U.S. with over $1 million in revenue in 2009. The rankings were determined by calculating the highest percentage revenue growth between 2007 and 2009. Seven Indiana companies made the list to include Scale Computing (ranking an impressive second overall), BlueLock, Vontoo, Iasta, ExactTarget, Angie's List and Delivra.
So, what makes the Crossroads of America so attractive to emerging tech companies and what drives their growth? Some of the contributing factors are: access to capital, competitive tax credits/incentives and a commitment to develop and commercialize advanced technologies in Indiana.
Access to Capital
The Facebook deal redefined "alternative financing strategies." The cash infusion from Goldman Sachs enabled Facebook to delay an initial public stock offering (and the heightened scrutiny and regulation that comes along with it) while simultaneously allowing it to make valuable improvements in its technology. Capital is the key component to success for emerging and entrepreneurial companies looking to grow and gain market share.
Today, private companies in Indiana have a variety of resources in the financing arena available to them. A number of angel investor groups consisting of current and former entrepreneurs have come to fruition and are looking to make investments in early stage technology companies. In addition, Indiana has a broad representation of private equity funds focused on investing in areas such as technology, health care and life sciences. The banks are also starting to get back into the game with Small Business Administration-backed loans for smaller companies.
Competitive Tax Credits/Incentives
The leadership in Indiana has also recognized the importance of creating new jobs for Hoosiers through the development and growth of entrepreneurial companies by supporting their growth from small start-up companies to significant employers within our state's economy. It has become more expensive and competitive for the state to incentivize companies to move their businesses to Indiana. As such, Indiana has focused on fostering an entrepreneurial culture where individuals are encouraged to start businesses which leverage the talents and strengths that are already inherent in the state's economy as well as the current workforce. One such method used by the state is the Indiana Venture Capital Tax Credit, which provides a tax credit for investors making an investment in privately held companies in Indiana. In addition, the Indiana Research and Development Tax Credit provides a tax credit for certain expenses spent on research and development. These tax credits were designed to encourage investors to provide capital to emerging growth companies and the activities that may be conducted by them.
Commitment to Develop and Commercialize Advanced Technologies
Government, business and education leaders within the state are committed to working together to foster an "entrepreneurial friendly environment." Programs like the state's 21st Century Research and Technology Fund were created in an effort to diversify the state's economy by focusing on developing and commercializing advanced technologies. According to research by Ball State University, the 21st Century Fund has given 188 awards of $238.5 million spread across 10 rounds. Award amounts experienced a few peaks and valleys until Round 6, peaking in Round 7 then gradually declining.
Programs like TechPoint's HALO Capital Group also provide funding opportunities for early stage companies. The group, comprised of over 20 former and current executives, assists with investments between $250,000 to $2 million.
The tech rush in Indiana has already begun. Fortunately, the state is well-armed and eager to attract the next generation of entrepreneurs. If you think you can wait another 10 years to bring that great idea to market, think again. A decade is a millennium in tech time. Just ask Mark Zuckerberg.
If you have questions regarding Ice Miller's entrepreneurial services please contact Kristine C. Danz. Danz is a partner in the Firm's Business Group. She focuses her practice on entrepreneurial legal issues, start-up commercialization, private equity/venture capital financing transactions, and mergers and acquisitions.
This publication is intended for general information purposes only and does not and is not intended to constitute legal advice. The reader must consult with legal counsel to determine how laws or decisions discussed herein apply to the reader's specific circumstances.
Name: Kristine Danz
Company: Ice Miller LLP
E-mail: kristine.danz@icemiller.com
City: Indianapolis
State: IN
Kristine Danz is a partner in Ice Miller's Business Group. She focuses her practice on entrepreneurial legal issues, start-up commercialization, private equity/venture capital financing transactions, and mergers and acquisitions.
I meet many entrepreneurs from the Indiana tech sector and beyond who have served as VPs or middle managers before embarking on their entrepreneurial dream. There is a key difference between the way a VP or manager looks at finance and the way a CEO looks at finance: VPs look at margins; CEOs look at cash flows.
The IRR is the time-weighted rate of return of future cash flows. More specifically it is the NPV of invested dollars, distributions to owners and unrealized investments. This is a key tool in valuing companies and for investors to determine the expected return of their investment. Venture capitalists and private equity firms understand IRR well - and most will use a discounted cash flow method (utilizing an IRR) to value companies in considering investment opportunities.
Attorney David Castor concentrates his practice on advising and serving Indiana information technology companies and broad-based other businesses and their owners through their legal matters including Indiana technology trends. Mr. Castor’s practice is focused largely on Indiana technology services, representing SaaS and Internet based companies as general counsel.
Name: David Castor
Company: Alerding Castor Hewitt LLP
E-mail: dcastor@alerdingcastor.com
City: Indianapolis
State: Indiana
We posed the question of why Indiana technology and business professionals should attend TechPoint's Innovation Summit and a few other questions to three Hoosier experts. These three individuals are at the top of their game and they also happen to be presenters on panels for the event (so they know a little something about the valuable nuggets of business knowledge they plan to espouse).
The video speaks for itself. Visit the TechPoint website for more information about Innovation Summit. There you can download the full event agenda with the topics of all four breakout sessions and the participating panelists; find out about the "Funding Innovation" plenary panel; and which venture capital, angel and seed funding firms are scheduled to attend the "Capital Connection" venture networking event.
You won't want to miss the keynote address from iconoclast technology author Nicholas Carr. Carr is famous for his controversial articles "Does IT Matter?" and asking the question "Is Google making us stupid?" in his new book The Shallows: What the Internet Is Doing to Our Brains. Agree or disagree with him, Carr makes us think – and that’s the first step towards innovation.
Of course, one of the best parts about Innovation Summit is the "Innovation Exhibition" trade show floor where you can browse booth after booth after booth filled with new technologies and business opportunities. Make sure you have a healthy supply of business cards, make note of the #Summit10 Twitter hashtag, and prepare yourself for Indiana's largest assembly of technology professionals and entrepreneurs.
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We need your help here at the School of Informatics. We are committed to Indiana technology education and Indiana technology research through the professional development of our students (Informatics, HIA, and Media Arts) into graduates ready for the real world of employment in the Indiana tech sector and beyond.We need industry professionals working in emerging business technology at information technology businesses willing to impart some wisdom and give honest advice to students on what their field is like and how to best prepare for jobs in their organizations.
What's in it for me you ask? In return for a little of your time your organization:
- Gets branded with the student population here at the school. Free viral marketing is very effective!
- Gets to interact with students and find those potential interns and employees who are ready for work now.
- Can help those students who need to develop further skills by giving them advice that will better prepare them for internships and full-time positions for Indiana information technology jobs in the future...maybe with your company.
Informatics and Health Information Administration Majors Tuesdays - (9:00-10:50am)
Tuesday October 12 - Alumni Panel with Informatics and HIA students
Tuesday October 26 - Classroom Guest Speakers
Tuesday November 9 - Mock Interviews (At school or employer locations)
Tuesday November 16 - Classroom Guest Speakers
Tuesday November 23 - Job Shadows @ Employer Locations
Tuesday November 30 - Job Shadows @ Employer Locations
Tuesday December 7 - Classroom Guest Speakers
Media Arts (New Media) Majors - Thursdays(9:00-10:50am)
Thursday October 14 - Alumni Panel with Media Arts (New Media) students
Thursday October 21 - Classroom Guest Speakers
Thursday November 4 - Mock Interviews (At School or Employer locations)
Thursday November 11 - Classroom Guest Speakers
Thursday November 18 - Job Shadows @ Employer Locations
Thursday December 2 - Job Shadows @ Employer Locations
Thursday December 9 - Classroom Guest Speakers
Getting involved with the IU School of Informatics is a great way to recruit interns and future employees. Let some of our students come visit your organization for job shadows or mock interviews. Come visit our classes and present to students who will all be graduating with a degree in New Media, Informatics, or Health Information Administration. We have two sections of the Directed Studies course this fall. One meets on Tuesdays and the other on Thursdays. If you would like to be involved in one or both please contact me and I will make arrangements with you.
For more information, contact Brian Benedict at bbenedic@iupui.edu or 317-278-7611.
Name: Brian Benedict
Company: Indiana University School of Informatics at IUPUI
E-mail: bbenedic@iupui.edu
City: Indianapolis
State: Indiana
Today, TechPoint, with support from the Indiana Economic Development Corporation (IEDC) and Ball State University's Center for Media Design, announced Indiana’s Measured Marketing Initiative, a national media relations campaign to position Indiana as the leader of a fast-growing, emerging technology business category that TechPoint has coined as “measured marketing.” The goal for this initiative is to raise awareness, generate customers for existing businesses and attract companies to create jobs and investments in Indiana.
There are more than 70 measured marketing companies in the state of Indiana. Measured marketing companies provide a platform or service for digital marketing via email, social media, search, video, mobile and other rapidly evolving technologies, and they provide clients with return-on-investment tracking.
With its technology-related tax credits and exemptions, access to major research universities, and very reasonable costs of living, Indiana has been a great home for technology businesses, and we are excited to see more companies do business in Indiana.
For more information on Indiana’s Measured Marketing Initiative, please go to www.indianameasuredmarketing.com.
Last week, executives from 41 Hoosier "Companies to Watch" were honored at a gala dinner at the Indiana Roof Ballroom in Indianapolis. Presented by the Indiana Economic Development Corporation (IEDC), Purdue University, and the Edward Lowe Foundation, the "Companies to Watch" program recognizes the state’s fast-growing, high-potential firms among businesses with up to 150 employees and between $750,000 and $100 million in annual revenues.
It’s noteworthy that 17 of the 41 companies on this list are in the information technology space, representing areas like software development, IT consulting, e-mail marketing, and healthcare technologies. These high-tech firms are located across the state.
The fact that nearly half of the IEDC’s ‘Companies to Watch’ list are tech companies is more evidence – although anecdotal – of the sector’s continued growth and vitality in Indiana. Hoosier technology firms continued to add jobs even during the trough of the recession in 2008, and Indiana skyrocketed up the state rankings in venture capital investment per capita, from 41st in 2008 to 20th in 2009, showing that funding continues to flow to high-tech innovation here.
The 2010 "Companies to Watch" account for more than $390 million in annual revenues, employ more than 2,000 Hoosiers, and are on pace to create nearly 1,000 new jobs in 2000. The future looks bright for these businesses – as it does for Indiana’s technology community. See the full list of companies.
Legendary Indiana investor and filmmaker will receive award at TechPoint Mira Awards Gala event May 15
TechPoint is pleased to announce that legendary investor and innovator Robert Compton is its 2010 Trailblazer Award recipient for significant and lasting contributions to Indiana’s high-tech economy. The Trailblazer Award is part of TechPoint’s annual Mira Awards program recognizing Indiana’s technology success stories in various categories for industry, institutions and individuals.
Thirty years ago, Robert Compton chose to forsake the security of a systems engineering career with IBM and venture in a new direction as an entrepreneur and investor. For Indiana’s technology sector, the rest is history – Compton has built an unparalleled record of investing in and supporting firms that became the foundation of the state’s high-tech industry, spawning successive generations of new companies (many of which Compton also became involved in).
Compton’s track record is truly a Hoosier high-tech ‘who’s who’ – firms like Software Artistry, Aprimo, Exact Target, Interactive Intelligence, Vontoo, IndianMathOnline, Compendium Blogware, Compression Engineering, Mezzia, Sci-Tech Ventures, Veregon and Warsaw Orthopedic (which went on to become Sofamor Danek, the world’s largest spinal medical device company, with Compton as its President). In all, he has been active in more than 40 businesses in software, telecommunications, healthcare, medical devices, and education.
“When you try to chart the progress of Indiana’s technology sector over the last two decades, most roads seem to lead back to Bob Compton,” said Jim Jay, TechPoint’s President & CEO. “He has been a catalyst for bringing so many new innovations to market, for making Indiana a hotbed for online measured marketing – the list of achievements goes on and on.
“This award only confirms what every Indiana technology entrepreneur knows to be true – Bob Compton certainly blazed a path that all of us continue to follow.”
Compton’s involvement in entrepreneurship doesn’t end with his direct involvement in for-profit ventures. He also serves as a Trustee of the Kauffman Foundation, a $1.8 billion institute dedicated to accelerating entrepreneurial activity. His recent exploits as a filmmaker – most notably the documentary “2 Million Minutes” – has explored the critical role of education to success in an entrepreneurial, knowledge-based economy, taking a look at the differing approaches employed by the U.S., China, and India.
“Bob is a venture capitalist in two senses of the phrase – he invests both intellectual and financial capital in companies and causes that he cares about,” added Mark Hill, Chairman of TechPoint and managing partner of Collina Ventures. “Indiana’s tech community has certainly been a beneficiary of his work, and this Trailblazer in Technology recognition is a well-deserved and long-overdue expression of our appreciation.”
For the last decade, TechPoint’s annual Mira Awards have put a spotlight on Indiana’s high-tech all-stars, understanding that celebrating success is one way to create more of it. The Mira Awards are Indiana’s largest and most visible technology awards program; learn more at http://www.techpoint.org/Mira/. This year’s Mira Gala awards ceremony will be held on May 15th at the Westin – Downtown Indianapolis. Tickets are available for purchase through the website.
About TechPoint
TechPoint is Indiana’s only statewide technology initiative, representing industry stakeholders including publicly-traded companies, private businesses, colleges and research universities, and local economic development organizations. The group’s mission is to accelerate Indiana’s emerging and vibrant information technology sector by: promoting the successes of information technology companies and professionals; supporting the formation, expansion, and attraction of IT companies; and advocating appropriate public policy. TechPoint is an initiative of the Central Indiana Corporate Partnership. Visit www.techpoint.org.
LEARN MORE ABOUT THE MIRA AWARDS GALA
LEARM MORE ABOUT BOB COMPTON
New film from businessman Bob Compton examines entrepreneurship in China and the country’s rise to a global superpower
INDIANAPOLIS (September 14, 2009) — The Indiana premiere of Win in China, Bob Compton’s new documentary on the explosion of entrepreneurship and new venture creation in China, will be part of TechPoint’s Innovation Summit at the Indiana Convention Center on Sept. 29.
Compton, creator and executive producer of the provocative documentary on global education, Two Million Minutes, said he wants Indiana CEO’s and university students to see his new film to better understand the challenges they will face from a tidal wave of Chinese entrepreneurs.
“In Communist China, the country’s heroes are not sports stars or entertainers but entrepreneurs, because they create jobs, wealth and strengthen communities,” Compton said. “Indiana has many successful entrepreneurs who have advanced the state’s economy, but the Chinese are investing in entrepreneurship education, infrastructure and venture capital on a scale unimaginable to Americans.”
He continued, “Remember what you saw at the Beijing Olympics, and imagine that scale of money, talent, energy and coordination being applied to building the entrepreneurial sector of China’s economy. Now double everything. The Politburo’s efforts are on a massive scale, and Americans are entirely unaware.”
“The point of the film and my desire to reach out to the TechPoint Innovation Summit audience isn’t to criticize Hoosiers or Indiana businesses – quite the opposite,” Compton said. “Indiana’s tech sector is our state’s future, and I believe this film can be a catalyst for renewed commitment to Indiana’s new venture initiatives by Innovation Summit attendees.”
Win in China is a 60-minute documentary film that centers on the largest, most lucrative business plan competition in history. Organized as a Donald Trump-like TV show, it was broadcast across China on CCTV3 and serves as a metaphor for the country’s dramatically increased entrepreneurialism.
Win in China follows the path of China from Cultural Revolution and abject poverty to the Entrepreneurial Revolution and rise to be the third largest economy in the world. It vividly illustrates the role entrepreneurship has played in the dramatic changes China has undergone over the past 30 years.
The Indiana premiere of Win in China will follow the national plenary panel at the Innovation Summit entitled “Funding Innovation,” which will feature Bob Compton and other venture capitalists from both coasts including:
- Mathias Schilling, Senior Partner at BV Capital – San Francisco
- Michael Arpey, Managing Director, Customized Fund Investment Group, Credit Suisse – New York
- Michael Brown, General partner of Battery Ventures – Boston
The panel is sponsored by Alerding Castor Hewitt LLP and will be moderated by David Castor, partner at the firm.
The keynote speaker for the luncheon at the Innovation Summit will be renowned innovation expert, entrepreneur, bestselling author and Harvard Business School professor Clayton Christensen.
The screening is scheduled to begin at approximately 5:15 p.m. at the Indiana Convention Center. You must be a registered Innovation Summit attendee to attend the screening. Early-bird tickets cost $150 in advance or $175 after Sept. 22. Visit http://www.techpoint.org/summit/ for more information about TechPoint’s Innovation Summit.
About Win in China
Win in China is a documentary film about the world’s largest and most lucrative business-plan competition, held not in the United States or any western country, but in communist China. Over 120,000 entrepreneurs compete for prize money in excess of $5 million with the winner receiving nearly $1.5 million dollars to invest in a new business plan. Documentary filmmaker Ole Schell was given unprecedented access to the show’s creator, the contestants and the judges. His documentary opens a window into Chinese capitalism, which differs in many ways from Western capitalism. Beneath the game show’s surface lies a nuanced, subtle view of Chinese business practices, ambitions, ethical norms and competitive behaviors. For more information, please visit www.WinInChinaMovie.com.
About TechPoint
TechPoint is Indiana’s only statewide technology initiative, representing industry stakeholders including publicly-traded companies, private businesses, colleges and research universities, and local economic development organizations. The group’s mission is to accelerate Indiana’s emerging and vibrant information technology sector by: promoting the successes of information technology companies and professionals; supporting the formation, expansion, and attraction of IT companies; and advocating appropriate public policy. Visit www.techpoint.org.
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CONTACTS:
Joshua Hall, TechPoint, 317-464-5416, jhall@techpoint.org
Meghan Devitt, Dittoe Public Rel., 317-202-2280, ext. 11, meg@dittoepr.com
According to Kristee Stewart, TechPoint’s director of programming and events, this is the first year for the early-bird pricing, but it will help the organization save a great deal of money.
“The sooner we are able to submit an accurate attendee count to the Indiana Convention Center the better,” Stewart said. “In the past, we have had to wait until the very last minute to turn in attendee estimates and it has cost us and our sponsors too much money that could have been used for programming. This year, we already have more than 600 tickets sold in advance and we believe the new early-bird pricing structure is a good incentive for hundreds more to buy their tickets before the price increase goes into effect after September 22.”
Innovation Summit features keynote speaker Harvard Business professor Clayton Christensen, the author or coauthor of six books including The New York Times bestsellers “The Innovator's Dilemma” and “The Innovator's Solution.” In 2008, he released Disrupting Class: How Disruptive Innovation Will Change the Way the World Learns, a groundbreaking examination of America's education system through the lens of disruption. His latest book, The Innovator's Prescription: A Disruptive Solution for Health Care, applies the principles of disruption to the nation's broken health care system.
Innovation Summit includes seven different breakout panels following the keynote address that feature 35 national, regional and local experts who will tackle critical issues facing Indiana life sciences, advanced manufacturing and logistics, clean-technology or clean-tech energy, information technology, education, and commercialization of academic research and development.
The full lists of speakers and panel descriptions are available on the following pages of the TechPoint Innovation Summit website (www.techpoint.org/summit):
Click Here to register now and take advantage of the $150 early-bird ticket price.
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