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Archive for January, 2013

Venture Capital Dispatch
An inside look from VentureWire at high-tech start-ups and their investors.

Jan 18, 2013

Alchemist Accelerator Graduates its First Class
By Deborah Gage

Helping businesses figure out how to make money has been less appealing for entrepreneurs than writing Web apps for the public, but that’s changing with Alchemist Accelerator, which was inspired by a Harvard Club of San Francisco project and is trying to instill business skills into technical entrepreneurs.

On Thursday on the Microsoft campus, backed by music from “Star Wars” and “Mission Impossible,” nine startup teams graduated from the Alchemist Accelerator, which offers a $28,000 investment, six months of training and introductions to potential customers and mentors from Stanford University faculty and Silicon Valley executives and entrepreneurs.

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‘Politically Dressed’_ First Daughters’ Fashion, Inauguration Edition – ABC News By SHUSHANNAH WALSHE (@shushwalshe)
Jan. 18, 2013
ABC News with Lauren A. Rothman  http://www.youtube.com/watch?v=psJXJ0vazUs&feature=share&list=FLaTq937NRvndeAN0g-Gpb2Q

To schedule an interview with On-Air Political Style Expert
Lauren A. Rothman, please contact:
Phone: +1.202.631.8878
Email: lauren@styleauteur.com
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TV Clips: styleauteur.com/press

Most eyes will be on the president Monday when he is sworn in at his second inauguration, but standing beside him and the first lady will be their daughters, Malia and Sasha.

“Politically Dressed” went to Saks Fifth Avenue and spoke with political fashion expert Lauren Rothman about what the first daughters may wear to their father’s swearing in.

No matter what they wear, like the adorable bright pink and blue outfits from J. Crew four years ago it will fly off the shelves.

As Amy Carter, Chelsea Clinton, Jenna and Barbara Bush, and other young daughters of presidents have done before, Malia and Sasha are sure to be by their parents’ sides for many of the other inauguration events, but they aren’t the young girls we saw four years ago. They are hitting their teen and tween years now. Malia is 14 and Sasha is 11.

Rothman predicted some “hot trends” for the Obama girls like lace, full skirts, tweed, mixing patterns and even neon (see all the trends by watching “Politically Dressed” above).

“You are always going to see them in that full skirt,” Rothman said. “That flirty skirt is really is one of the first daughters’ signature style statements.”

She added that people may see a coordinated Obama family.

“I think the girls are probably going to have a few options and on the day of [the inauguration] will really decide how the first family is going to coordinate,” Rothman said. “I think everyone will want to know what they are wearing and how they’ll replicate it.”

Rothman added that all these trends are good for your average teen, as well, saying they will keep their moms happy, too.

“The full skirt is great because it really hides a multitude of sins,” Rothman said. “It cinches in a tiny waist and it doesn’t let anybody see what’s underneath. So for kids, it’s safe for mom because mom doesn’t feel it’s too tight. It’s not a miniskirt. But it’s also good for girls who are just starting out, and kind of putting their long legs out there, and want to have a little coverage and don’t want to show off too much of their figure.”

Don’t forget the accessories: a cross-body bag and a fun flat are perfect for their age and, really, any age.

“This is the most important part of all these trends, is you don’t want the girls to grow up too fast,” Rothman said.

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Article from GigaOm.

The notion that a lot of venture capitalists — and in particular Kleiner Perkins — have lost money on cleantech startups is now officially mainstream news, via a long article published in Reuters this week. The article isn’t inaccurate, but it misses a whole lot of nuances including  the big picture global trends of population growth and resource management, the long term play and some of the newer trends of the cleantech sector, and a few of the more successful companies in Kleiner’s cleantech portfolio.

We’ve been covering this roller coaster ride, and Kleiner’s plays for years. Back in the summer of 2010, I first wrote “Greentech investing: not working for most;” and in early 2012 I wrote pieces on “the perils of cleantech investing,” as well as “We can thank Moore’s Law for the cleantech VC bust.” Last year I wrote “Kleiner Perkins web woes, add greentech,” and Kleiner is not so great at investing in auto tech.

Cleantech Open western regional 2012

The article does have a pretty amazing tidbit in there, that Doerr dipped into his own pocket for the $2.5 million that Miasole needed to make payroll before it was sold to Hanergy. But here are 5 things I think the article missed:

1). The long-term larger risk, but bigger payoff: A lot of the manufacturing and infrastructure-based cleantech startups have been taking longer to mature and reach commercialization than their digital peers, and they’ve also needed more money. But when some of these rare companies actually do reach scale and are successful, they could be massive players with huge markets. It’s just a different kind of betting — think putting a $100 on 22 on the roulette wheel, versus $5 on a hand of poker. A combination of the two — a small amount of the high risk investments, with a larger amount of the low risk investments — could be a good play.

That was one of the reasons why it seems like investor Vinod Khosla is still investing in cleantech startups. Khosla Ventures’ biocrude portfolio company KiOR — which the firm mostly owns – has a potential market that is no less than an opportunity to displace oil in transportation. Imagine if a venture investor owned a big chunk of Exxon Mobil.

KiOR1

2). The bigger trend of population growth and resource management: Many venture capitalists might be steering away from the cleantech investing style of years prior, but the overall global trends that originally drove these early cleantech investments will only continue to grow. These planetary trends aren’t wrong, it’s just that a bunch of the investments that were made weren’t that smart. The world will have 9 billion people by 2050, and energy, water and food will have to be managed much more carefully. The climate is also changing, because too many people are using too many fossil fuel-based resources. Technologies — including IT — that manage these resources and replace them with more sustainable ones will have large markets, particularly in developing countries.WindGoogleLady

3). Beyond venture: For many cases, the cleantech investing model isn’t a fit for venture capital. But that doesn’t mean it’s not a good fit for other types of investors like private equity and project finance. Google has put a billion dollars into clean power projects, because those can deliver relatively safe and decent returns. Corporate investors — like GE or NRG Energy — are putting money into cleantech startups because it’s more than just a return, it’s a strategic investment. Cleantech innovation will also continue to come out of university and government labs and will be spurred along by government support of basic science research. Does cleantech innovation need a cleantech VC bubble to start changing the world?

 

4). Kleiner’s portfolio is more nuanced: The Reuters story accurately pointed out Kleiner’s struggling cleantech companies like Fisker, Miasole, Amonix, and others. And also rightly pointed out how the few cleantech companies it backed that went public — like Amyris and Enphase Energy — are now trading below their IPO prices. But the article didn’t mention the exit of solar thermal company Ausra, and also didn’t name some of the more successful and growing companies in Kleiner’s portfolio like Opower, Clean Power Finance, Enlighted, Nest, and RecycleBank. Opower is the energy software company to beat these days.

Honeywell & Opower's iPad smart thermostat app

Honeywell & Opower’s iPad smart thermostat app

5). Cleanweb: See a trend in Kleiner’s more successful and growing cleantech startups? They’re mostly software and digital based. The latest trend in cleantech VC investing is the so-called “clean web,” or using social, mobile, and software to management energy and other resources. Some of these companies are pretty interesting and inspiring, like crowd-funding solar site Solar Mosaic.

Finally, as a side note, it’s now in vogue to point out how cleantech investors have lost money. Many have. But I think investors that have paved the way for world-changing innovation, and taken large risks to do so, should in part be lauded.

 

Read more here.

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San Francisco, January, 2013
Gerbsman Partners – Maximizing Enterprise Value – partial industry and client summary
Gerbsman Partners focuses on maximizing enterprise value for stakeholders and shareholders in under-performing, under-capitalized and under-valued companies and their Intellectual Property. Since 2001, Gerbsman Partners has been involved in maximizing value for 75 technology, life science and medical device companies and their Intellectual Property and has restructured/terminated over $810 million of real estate executory contracts and equipment lease/sub-debt obligations. Since inception in 1980, Gerbsman Partners has been involved in over $2.3 billion of financings, restructurings and M&A Transactions.

Gerbsman Partners has offices and strategic alliances in San Francisco, New York, McLean, VA/DC, Orange County, Boston, Europe and Israel.

Technology – IP

Software

Emergent Game Technologies Inc – Licensed and supported 3D/game software.

Capital Thinking – Enterprise Risk Management (ERM) platform, a credit and risk management software solution for the financial services industry.

Cesura – Web and on demand business software.

Conformia Software Inc. – Software solutions for highly regulated process industries – Life Science.

deNovis – Enterprise software for government health and health insurance industry.

Aperion Inc. – Software.

Gentiae Inc. – Real-time fully automated processing of cardiac safety input and core lab operations. The system offers a comprehensive, real time web portal for sponsor and site access.

Banquet – Interactive sports entertainment.

ID Engines Inc. – Role-based access control (RBAC) across enterprise networks.

InDplay Inc. – Online, B2B video content distribution (monetization) platform, deployed on enterprise-quality software components, served in the SaaS (software-as-a-service) model.

Metreo Inc. – Pricing software for manufacturers and distributors.

Neohapsis Inc. – IT management services platform.

Zone4Play – Interactive game technology.

Roots Web, Inc. – Geneology software.

StreamSearch, Inc. – Multimedia aggregator that has created a unique solution for indexing, locating, promoting, and distributing rich media on the Internet.

Technion University – Technology patents

Teranode Corporation – Business intelligence and lab automation solutions for the Life Science market.

USA Democracy, Inc. – Direct, verifiable, credible communications between elected representatives and their constituents through its non-partisan legislative-based website.

Utility.com, Inc. – Multi-utility eCommerce/eCRM technology, Web-based energy management technology.

Vcommerce, Inc. – Developed, deployed, and operated fully integrated, end-to-end supply chain execution systems and direct fulfillment infrastructure.

Intelectron, Inc. – Commercial lighting technology.

Skunk Technologies – Java based technology.

Telecom

Dialpad, Inc. – Web-to-phone service.

Simpler Networks, Inc./Hercules Technology Growth Capital – Telco software – a matrix switch platform that sits within the Telco’s central office (CO) or street cabinets. Developed to allow for universal access to any service, the system’s protocol-transparent design allows it to be placed in front of any existing or future access gear that delivers services over the local loop
Storage

Cornice Inc. – Storage and flash controllers.

PhaseMetrics Inc. – Storage systems manufacturer.

Plasmon, Inc. – Data archival storage technology
Networking/Optical Networking

CipherMax, Inc. – Storage networking.

Private Networks, Inc. – Broadband multicast delivery system utilizing digital satellite technology. The technology has universal applicability to many industries for distribution of high-band data and video.

Teak Technologies Inc. – Internet switching and gateway networking products.

Zeus Communications, Inc. – Hardware architecture of 10 Gbps IPSec VPN and firewall in a single board.

Optivia, Inc & Hercules Technology Growth Capital – Optical transport systems.

Princeton Lightwave, Inc. – Optical networking technology

T-Networks, Inc. – Optical networking components.

Transparent Networks, Inc. – Wavelength Selective Switch, a high performance large scale Photonic cross-connect functional prototype, detailed design and simulation validation of a Light Path Exchange with integrated DWDM, an HDTV display mirror array high level design and simulation, proprietary and unique MEMS design and validation engineering tools.

Network Photonics, Inc.

Cambridge NanoTech, Inc.- Materials Science company that developed high Performance turnkey equipment for Atomic Layer Deposition (“ALD”).
Mobile

eBiz mobility – Mobile business payment

YPS Software – ASP and software vendor for the PC and mobile phone industries, Mobile Entertainment Centre.

Teleflip – Mobile messaging.
Media/Advertising/Internet

Active Response Group Inc. – On line marketing company.

Akimbo Inc. – Monitizing on line media.

Competition Accessories, Inc. – Online direct marketing.

Gallery Player Inc. – Provider and distributor of high-value, rights managed high definition imagery for high definition televisions.

MeMedia Inc. – Online advertising solutions provider and ad network that delivers contextually and behaviorally targeted advertisements across a multi-modal network of websites and desktop applications.

MyWire Inc. – Paid content and advertising.

NebuAd, Inc. – Online advertising model. Next-generation digital media technology and solutions.

Holographic & Biometric Technology

Aprilis, Inc./Dow Corning – Holographic Data Storage Drives and Biometric Secuirty Systems
Security

NeoScale Inc. – Storage encryption and key management solution for organizations securing information stored on tape and disk media.

Oviso Inc. – Semi conductor manufacturing equipment.

SciCortex, Inc. – Manufacturer of high performance computers.

Medical Device

Cardiovascular, Vascular, Endoscopy

Cardiomind inc. – Stent delivery platform.

OmniSonics Medical Technologies Inc. – Vascular disease IP.

InnerPulse Inc. – Cardiac rhythm management (CRM) medical device company.

Myocor Inc. – Developing innovative cardiac reshaping devices to treat functional mitral regurgitation (FMR) and left ventricular (LV) dysfunction, both of which are significant in the progression of congestive heart failure (CHF).

NDO Surgical, Inc. – Flexible endoscopy technologies that enable surgical procedures through the bodys natural openings.

Viacor Inc. – Cardiac implant device for the treatment of functional mitral regurgitation.

XTENT Inc. – Customizable drug eluting stent systems for the treatment of cardiovascular disease.

Spine

Applied Spine Technologies Inc – Screw based dynamic stabilization system validated with Class 1 clinical data

Emphasis Medical Inc. – Endobronchial valves for the treatment of heterogeneous emphysema.
Orthopeadics

NovaLign Orthopedic Inc. – Long bone fracture, intramedullary nail technology.
Opthomology

Optobionics – Retinal degeneration.

Refractec, Inc – Radiofrequency (RF) device called ViewPoint CK System, used to perform NearVisionSM CK (Conductive Keratoplasty) treatment
Obesity

Satiety Inc. – Obesity product

Life Science

Pluristem, Inc. – Stem cell research – Israel company

Barnev Inc. – Monitoring Systems, Labor Israel company.

Pegasus Biologics Inc. – Developed and is commercializing a revolutionary bioscaffold comprised of highly organized collagen, sourced from equine pericardium that encourages the healing process by addressing the demands of a challenging biological environment.

Radiant Medical, Inc. – Endovascular therapeutic cooling.

Valentis, Inc. – Biotechnology company with small molecule, antibody, protein, gene and manufacturing assets.
Solar

Nanosolar

AQT Solar

SVTC Solar

GERBSMAN PARTNERS
Email: steve@gerbsmanpartners.com
Web: http://www.gerbsmanpartners.com
BLOG of Intellectual Capital: blog.gerbsmanpartners.com
Skype: thegerbs

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Article from SFGate.

California’s rebate program for businesses and homeowners who install solar panels has now funded enough systems to generate 1 gigawatt of electricity – a level few countries and no other states have ever reached.

California officials reported Thursday that state residents have installed 1,066 megawatts of solar systems using rebates from the $2.4 billion California Solar Initiative, launched in 2007 as a way to jump-start the industry.

For perspective, 1 gigawatt is roughly the output of two conventional power plants or one nuclear reactor. A gigawatt equals 1,000 megawatts. Both are snapshot figures, representing the amount of electricity generated at a given instant.

The rebates decline over time and are now 92 percent lower than they were when the program began. But the number of applications received each year continues to rise as solar power’s popularity spreads.

As a result, state officials say the program should reach its goal of funding enough installations to generate 1,940 megawatts by the end of 2016.

“It’s one of the few examples of a program where, if anything, we’re hitting the goals sooner than anticipated,” said Edward Randolph, director of the energy division at the California Public Utilities Commission, which oversees the program.

“The costs are going down as we hoped, and the market is heading closer to self-sufficiency.”

The program is part of California’s Million Solar Roofs Initiative, a $3.3 billion package of financial incentives offered by the state to build a thriving solar industry here.

The overall initiative, created by the Legislature in 2006, seeks to install enough solar systems across the state to generate 3 gigawatts, reaching that milestone by the end of 2016. Solar power’s spread across the state has been aided by plunging prices, driven lower by a worldwide glut of solar panels. When the California Solar Initiative started offering rebates in early 2007, residential solar installations in the state cost $9.76 per watt on average, according to the program’s data. Now they cost $6.19, a drop of 37 percent.

The rising popularity of solar lease programs – which allow homeowners to install solar systems without owning the equipment – has also helped fuel the solar industry’s growth. The California Solar Initiative is reviewing applications for projects capable of generating another 332 megawatts.

The initiative accounts for roughly half of the solar power capacity installed in California to date.

When other facilities are included – such as photovoltaic power plants that sell their electricity to utilities – the state can now generate more than 2 gigawatts from the sun, according to the Solar Energy Industries Association.

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