Going On a Mission: Governor Martin O’Malley’s Asia Trade Mission

June 20, 2011

Clay

Developing personal relationships is crucial for success when doing business in the Asian region, and that means spending quality face-to-face time on the ground.  In an effort to encourage foreign investment, stimulate economic development, strengthen commercial ties, Maryland Governor Martin O’Malley led a trade mission to Asia May 31-June 11.  Towson University Interim President Marcia Welsh, Asia Studies Director Stephen Phillips, and I were privileged to be among the 68 people chosen to represent the State on this productive trip through China, South Korea and Vietnam.

This 11-day trip was the perfect opportunity, not only to improve existing relationships, but to showcase what Maryland and Towson University have to offer and how our ties can benefit all parties.

During our travels through Shanghai, Nanjing, Beijing, Seoul, and Hanoi, we attended some key events like the 13th Shanghai Bio-Forum, BioCapital Leadership’s Luncheon, the Maryland-Jiangsu Partnership Banquet, and the Vietnam-Maryland Cooperation Ceremony and Luncheon. Shanghai’s Tasly Group announced a $40 million investment in Maryland, the largest direct investment ever in our state by a Chinese company.

Additionally, Marlin Steel Wire, a Baltimore steel wire basket manufacturer, signed a collaboration agreement in Vietnam with a state-owned steel production firm.  AmeriSure Pharmaceuticals, a Rockville based company, signed an agreement to collaborate with one of Vietnam’s largest state-owned pharmaceutical firms. In addition, the Vietnam Natural Resources and Environmental Corporation agreed to promote Ellicott City’sBlue Wing Environmental Solutions & Technologies floating island products.

Towson University representatives (Steve Phillips, Clay Hickson, Ohoe Kim, and Marcia Welsh, 2nd – 5th from left, respectively) and Inha University representatives, Incheon, South Korea

Not to be left out, Towson University also signed three MOUs in Shanghai to provide faculty training and school management services programs in the Pudong area.  Two other Towson representatives also joined us for parts of the trip.  Alexandria Liu, a Towson University student interning at the Maryland Department of Business and Economic Development, participated in the China leg of the trip, and Mathematics Professor Ohoe Kim was in Korea helping to arrange meetings with various partner universities there.

To develop opportunities for TowsonGlobal Business Incubator and its member companies I met up with representatives of Shanghai Juke Biotech Park, an incubator specializing in helping biotech SMEs.  I also met with Ningxia Yinxing Energy Co., which focuses on green technologies and is exploring expansion to the US.  In Beijing, I met with Xin Feng Zhuoqun Technology Co., a professional circuit board processor that may be able to support current members.   These meetings were important steps to open doors for future collaborations between Asian enterprises and TowsonGlobal.

Despite a few hurdles – our bus got stuck on a mound of dirt and broken asphalt – we also had the opportunity to visit historic landmarks like the Presidential Palace in Nanjing and the Great Wall and Forbidden City in Beijing, to go hiking in Seoul, and to tour around the city of Hanoi.

Clay Hickson (center) and delegation members at the Presidential Palace, Nanjing, China

Clay Hickson and Marcia Welsh at the Great Wall, Beijing, China

I was honored to be a part of such significant efforts to bring Asia and Maryland together.  Being a part of the Governor’s delegation offered business and educational professionals opportunities to expand their networks and strengthen existing ties while gaining credibility.  The mission brought many opportunities for technology development and economic growth to our state.  Maryland’s future in these foreign markets looks bright, but success will all depend on the efforts we make to continue building ties in the region.

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Posted by Clay Hickson

Baltimore “Thinks Big”

June 6, 2011

Clay

Baltimore’s time to think big has arrived! TowsonGlobal and Baltimore area innovators are organizing the first annual Think Big Baltimore, an educational forum where entrepreneurs and investors get together to discuss ideas and opportunities for growth.

This day-long event, hosted at Towson University, will feature expert panel discussions, keynote speakers, and in-depth educational sessions.  Attendees also will have the opportunity to generate new connections, catch up with other entrepreneurs, and share ideas over cocktails and appetizers in a powerful networking session the evening before. Finally, guests will participate in CrowdPitch, an event where selected pitching companies will present in front of a panel of experts and an audience.  Audience attendees will receive $100 of fun money which they can “invest” in their favorite pitching company.   The winner will be selected based on who receives the most “money”.

Events like Think Big Baltimore keep entrepreneurial spirit alive, create more jobs, generate opportunities for start-ups and small businesses, encourage innovation, and promote competition—all necessary for the Greater Baltimore area’s growth and success. Do not miss out on the opportunity to receive valuable advice from experts, or network with peers and investors.  Regardless of the stage a business is in, whether it is just an idea or a reality, Think Big Baltimore will be place to be!

The event will start with a networking reception on Tuesday, July 12th at 6:00 pm, followed by a day-long conference on July 13th, 2011, at Towson University. Use TowsonGlobal’s code 07132011 when you register, to get a special discount.  For more information, please visit http://www.thinkbigbaltimore.com/

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Posted by Clay Hickson

SIFE Returns to Towson University

May 9, 2011

Clay

They’re back! After a hiatus of several years, SIFE (Students in Free Enterprise), has returned to Towson University. This international, non-profit organization mobilizes undergraduate and graduate students to develop skills to become socially responsible business leaders. Its mission is to bring business leaders and student teams together, to develop outreach projects and make a difference in their communities by creating a more sustainable world through the positive power of business.

Recently, Towson’s SIFE team traveled to Philadelphia for SIFE’s Regional Competition.  The competitions provide SIFE teams the opportunity to present their service outreach projects and how they impact the community, in front of a panel of judges.  Although Towson’s SIFE team did not compete this year, it became energized and enthusiastic while observing other teams and by participating in the career fair and other networking activities.

(left to right) Biruk Lulseged, Curtis Johnson, Clay Hickson, Laleh Yousefi at SIFE Regional Competition, Philadelphia, PA, March 25, 2011

Towson’s SIFE team has joined with Junior Achievement to begin one of its first outreach programs. As the world’s largest organization dedicated to teaching K-12 students about entrepreneurism, workforce readiness and financial literacy, JA is a perfect partner for SIFE. At JA BizTown (a mock town) Towson Team members will mentor 5th-6th grade students as they apply what they learn in school.  Their experiences range from working in a bank, a television station, or a retail store to managing personal finance, writing checks and accounting.

Towson’s SIFE team also is lending a hand to one of TowsonGlobal’s member companiess, Specialty Food Sales, to help improve its business plan. SIFE will be providing in-depth market analysis, marketing tactics, and updates to supporting financial documents to help ensure Specialty Food Sales’ success.

Students who are interested in gaining real world experience, developing leadership skills, and jump-starting their careers by networking with business leaders are strongly encouraged to join!

Those interested should contact Curtis Johnson, President; Clay Hickson, Advisor, or attend a SIFE meeting, held every other Tuesday of the month at 5 p.m. in TowsonGlobal’s office at 7801 York Road, Suite 342 (across from Bill Bateman’s).

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Posted by Clay Hickson

PureBang Games and My Hopeful Journey Announced as the Winners of TowsonGlobal’s Business Plan Competition

April 14, 2011

Clay

TowsonGlobal’s first Business Plan Competition has found a winner… Two, in fact!   On April 11 five finalists—Hem of His Garment, My Hopeful Journey, Knight Protection Inc., PubRaiders.com, and Pure Bang Games—presented in front of a panel of distinguished judges over the course of three hours.  After careful consideration, Pure Bang Games and My Hopeful Journey were selected as winners.

Each entrant had fifteen minutes to present their business plans, followed by 10 minutes of Q&A.   The finalists were eloquent, confident and most importantly, very passionate about their ideas.  During the discussions, the judges provided insightful financial, marketing and management advice.

The competition was stiff, and in the end, there was a tie between the innovative ideas of PureBang Games and My Hopeful Journey.

Pure Bang Games Website

Pure Bang Games is a social game company poised to grab a chunk of the $1B social games market by creating fun, innovative social games aimed at women and tweens.  Their first title, My Pet Rock, is live on FaceBook and they are raising capital for marketing.

My Hopeful Journey's Website

My Hopeful Journey Website

My Hopeful Journey is a web-based application, much like a personal organizer, that changes the way women integrate infertility treatments into their lives.  It includes a calendar, task list and journal all in one application.   It is highly flexible and is accessible from any computer, phone or other device that has internet access.

Each winner will receive a prize package valued at $7,250, which will include the facilities, mentoring and networking assistance of a three-month Resident Membership in TowsonGlobal, promotional products and services from X-Sell Promotions, and a monetary prize of $2,000.

The support of sponsors has helped make TowsonGlobal’s competition a great success.  Thanks to Katz Abosch, Score of Greater Baltimore, Maryland Department of Business and Economic Development, X-Sell Promotions, Kevin Botsford of Merrill Lynch, Vince Talbert of PayPal, and YouNoodle.

TowsonGlobal’s latest effort in encouraging and strengthening entrepreneurial spirit and innovation in the Baltimore area has surpassed expectations.  The response for the competition has been gratifying and shows the great potential of entrepreneurs in our region.

Look for the next competition in the fall!

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Posted by Clay Hickson

Business Plan Competition: Meet The Judges!

April 5, 2011

Clay

We are only a few weeks away from the final round of TowsonGlobal’s first Business Plan Competition.  On April 11, finalists will make oral presentations in front of a panel of judges, who will then select the winner.  The judges, many of them Towson University alums with entrepreneurial backgrounds, have diverse expertise in a variety of industries, ranging from advertising to commercial lending and information technology.

So let’s meet them:

CallahanMr. Ed Callahan, Creative Strategist & Co-Founder, Planit
Edward Callahan is the creative leader and cofounder of Planit.  With more than 15 years of industry experience, he has worked with clients including CitiFinancial, Crayola, Under Armour, National Geographic, and a variety of other local, regional, and national brands. Recognized by the Baltimore Business Journal as one of “40 under 40” rising stars.  Mr. Callahan is a graduate of Towson University, where he earned a Bachelor of Arts in visual communications.

Mr. Larry Fiorino, CEO & President, G.1440
Mr. Fiorino has over 20 years of experience in the information technology industry.  He was named in the Baltimore Business Journals “40 under 40″ listing and serves on numerous boards including the Emerging Technology Centers, and Towson University’s College of Business and Economics. He also sits on the University of Baltimore’s Entrepreneurship Board.  Mr. Fiorino is a graduate of Towson University, with a Bachelors degree in Accounting, has an MBA from Loyola College and is a CPA in Maryland.

Mr. Jack Lewin, Vice President, M&T Bank, Commercial Banking
Mr. Lewin is a senior relationship manager for commercial lending at M&T Bank in Baltimore, where he manages approximately $400MM in bank exposure to commercial companies.  He serves as a director of The Maryland Technology Development Corporation (TEDCO).  Mr. Lewin also serves as on the board of TowsonGlobal Business Incubator. He received his MBA from University of Virginia’s Darden School of Business, and received his BA cum laude with distinction from The Colorado College.

ParedesMs. Lissell Paredes, B.A. in International Business, Towson University (July 2010)
Lissell Paredes is a recent graduate of Towson University, with a Bachelor of Science in International Business, received in July 2010. She currently serves as a Junior Research Assistant at Towson University’s Regional Economic Studies Institute assisting with marketing and research activities. During her studies, she started as a marketing and research intern at TowsonGlobal Business Incubator, where she conducted market analysis for its member companies. She also attended Universidad Del Pacifico in Peru, where she was an economics major, before transferring to the United States to pursue a business degree.

ParekhMr. Eric Parekh, Vice President, Evergreen Advisors, LLC
Mr. Parekh is a Vice President in the Mergers and Acquisitions practice of Evergreen Advisors.  He has a diverse background in middle market investment banking and brings a breadth of transactional experience to the practice.  Mr. Parekh has an MTS from Urshan Graduate School of Theology in St Louis, Missouri, and a BS in Economics from Texas A&M University.  He is actively pursuing an MBA with a concentration in accounting at Loyola University in Maryland. Mr. Parekh holds his Uniform Combined State Law Series 66 and his Series 7 General Securities Representative Licenses.  He serves on the board of the Towson Global Business Incubator.

Mr. Vince Talbert, Vice President of Merchant Services, PayPal – eBay, Inc.
Mr. Talbert has 20 years of marketing, Internet and credit card experience. Currently, he is the VP of Merchant Marketing at PayPal, an eBay company.  He joined eBay through the acquisition of Bill Me Later, Inc. where he was the VP of Marketing.  Bill Me Later was acquired by eBay for $1 billion. As a founding member and member of the executive team, Mr. Talbert was a key participant in the fund raising activities of the company which raised over $300 million in private equity. He earned his MBA from The Darden School of Business at the University of Virginia and his BS in Economics and Finance from Towson University.

TowsonGlobal launched the Business Plan Competition precisely because our purpose is to strengthen long-lasting entrepreneurial spirit and to support innovation across the Greater Baltimore Region that ultimately create a more vibrant economy.  The panel of judges for this first competition embodies that vision by providing today’s innovators with real and useful feedback from successful entrepreneurs and other experienced business people.

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TowsonGlobal Business Plan Competition Announces Six Finalists

March 7, 2011

Clay

After much anticipation, the six finalists for TowsonGlobal’s first Business Plan Competition have been selected.  A number of diverse entrants submitted their executive summaries on February 7, and the final six were chosen from these by a panel of experienced business professionals, economic development personnel, and faculty.

They are:

  • Hem of HIS Garment, provider of customized fashion apparel and alterations for women
  • Knight Protection, Inc., provider of unique tactical protection services that enhance the overall security industry
  • Mocha, learning management system that delivers content logically, through an easy to use and dynamic web portal
  • My Hopeful Journey, web-based application that helps women manage their infertility treatment programs
  • PubRaiders.com, developer of mobile phone technology that allows bar patrons to purchase items through their smart phones
  • Pure Bang Games, developer of  Facebook games

TowsonGlobal’s goal is to strengthen entrepreneurship and innovation, so all entrants received constructive feedback from the judges.  Finalists will be able to integrate that input into their full business plans, which will be due by March 11.

Since a strong “pitch” is vital to a startup’s success, each company also will have the opportunity to present in front of a panel of university and business experts, on April 11. The winner will be selected that day and will receive free 90-day Resident membership with the incubator (valued at $5000), along with a cash prize!

The business plan competition is a great reflection of the diversity and innovative spirit in the Baltimore area.  TowsonGlobal is happy to be a part of these ventures’ road to success and is looking forward to giving the finalists all the support they need throughout the competition.

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Posted by Clay Hickson

Getting it Right: How to Write a Winning Executive Summary

February 9, 2011

Clay

Research shows it only takes about 17 seconds to make a lasting impression. When you first meet someone, you only get a few glimpses of their personality, but it is enough to make you either want to learn more or to make you lose interest.

The Executive Summary works in a similar way.  It is the very first impression you give to a potential investor and the most important part of a business plan. So, how do you write a winning executive summary?

The main purpose of an executive summary is to explain your business in a clear and concise way.   Investors, CEOs, and lenders are busy and the executive summary may be the only thing they will ever read.  Tell the reader where your company is and where it’s headed, but most of all, show why you think your business will succeed.  Do not explain your entire plan, but highlight the key points.  Providing meaningless details is a mistake that small businesses often make.  Also, clear your vocabulary of superlatives and clichés; avoid using terms like “the best,” “groundbreaking,” “cutting-edge,” and “world class.”  Investors see these words too often; they hold no value and might make your project’s weaknesses much more evident. Be straightforward.

Photo credit: SXC, Brian Griesbaum

To make a powerful argument, you have to structure the summary in an organized way. A successful executive summary should have the following key elements:

  • a description of your company, including your products and/or services
  • your mission statement
  • your business’s management/the team
  • the market and your customer
  • marketing and sales plans
  • your competition
  • your business’s operations
  • financial projections and plans

To write the executive summary for your business plan, start by following the list above and writing one to three sentences about each topic.

Trying to describe your entire business in only a few pages isn’t easy, but if you wait until you have finished the business plan, the executive summary will practically write itself. Once you’re done, ask a friend or someone else to review it.  If they seem bored, or have no idea of what your business is about, then it will probably have the same effect on investors.

To view executive summary templates, and for additional information, visit TowsonGlobal’s Entrepreneurs Portal.

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Posted by Clay Hickson

VIDEO: Towson Global Helps Entrepreneurs Bring Dreams to Reality

February 2, 2011

Clay

TowsonGlobal-Business Incubator was featured earlier this week in a news segment on WJZ. The segment emphasized that despite the tough economic climate for starting a business, Towson University’s incubator makes it easier for entrepreneurs to gain access to the resources needed. The new Business Plan Competition was highlighted as was new member, Keffa Coffee. If you are interested in participating in the Business Plan Competition, don’t forget that Executive Summaries are due on February 7th.

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Posted by Clay Hickson

Three New Members Join TowsonGlobal

January 10, 2011

Clay

According to the Federal Reserve Bank’s Livingston Survey, the US economy is expected to grow at an annual rate of 2.5% in the first half of 2011, followed by growth of 2.9% in the second half of 2011. This moderate growth could be signaling economic recovery. Here at TowsonGlobal we are certainly seeing an increase in activity and are pleased to announce that three new companies have joined the incubator program:

Chesapeake Compensation Solutions LLC, a provider of compensation consulting services for mid-large sized firms and non-profit organizations, joins as an Associate Member.  The firm’s two principals bring over 43 years of combined hands-on experience in internal corporate and external compensation consulting.
Keffa Coffee LLC, a leading importer of specialty coffees to roasters across the United States and Canada, and also to several Asian countries, joins as a Resident Member. Keffa holds a significant quality advantage in the Ethiopian segment of the coffee industry because of the principal’s experience in the industry, his personal relationships with farmers in the major coffee growing areas of Ethiopia, and his product knowledge.  The owner is one of only 350 certified coffee tasters worldwide.
Sterling America Inc., a full service tax sale investment services company that provides investment opportunities for clients seeking safe, secure investments in tax liens and deeds across the United States, joins as an Associate Member. The firm’s products and services are designed to break down geographic limitations and open tax sale investment opportunities across the US to any individual or entity.

The technologies, products and services these companies are developing will greatly enhance the economic vibrancy and health of the Baltimore region.

Interested in tapping into the resources of TowsonGlobal? Enter our Business Plan Competition for startup companies, which offers a free 90-day Resident membership along with mentoring and advisory support services.  Visit www.towsonglobal.com for more information.

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Posted by Clay Hickson

Creating Your Own Opportunities: Entrepreneurial Initiative

December 6, 2010

Clay

With the shaky state of our economy, finding a job can be difficult, especially for students who don’t have extensive work experience.  Still, opportunities are there, it’s just a matter of finding them… or creating them.

Lately more and more people (including students), spurred by the dismal prospects in today’s job market, are taking that leap and starting their own businesses even before finishing their educations.

Take Katie Shea and Susie Levitt, who were seniors at New York University, as examples.  They were interning at banks and walking to work in heels, when they decided to start a business selling foldable flat shoes that come in their own carrying case.  With a little bit of help from family and friends, they gathered $10,000 and founded Cityslips™.   Just one year after starting, they imported 70,000 pairs from China that sell for $25 each and launched a second line of shoes!

See Katie and Susie describing their products

Building a successful business is not easy, but if you are passionate about your idea, you should be proactive and find the resources to make it work:

  • Write down your ideas and research them
  • Do what you know: Think about how you could package what you already know how to do and offer that as your own product or service
  • Do what others do: Learn about other businesses that interest you; once you have identified a business you like, copy it
  • Solve a common problem: Address a problem no one else seems to have addressed adequately; develop an innovative new product or service
  • Don’t be afraid to take some risks

If you feel unprepared to become an entrepreneur and have no idea where to start or what to do, you should consider taking some business courses like management, marketing, and entrepreneurship.  To gain work experience, internships are a great way to go.  Many internships offer time flexibility and will help you gain some perspective on how businesses work through hands-on learning. Also, business incubators can be excellent sources for expert feedback on your business plan, for mentoring and for networking assistance.

Success is never guaranteed, but the opportunities for accomplishment are there, as long as you learn from mistakes and keep moving forward.  In the end, it’s all about initiative and taking responsibility for your own future.  Whether you jump right into entrepreneurship or choose to warm up before diving in, take the steps to MAKE things happen for yourself.

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Posted by Clay Hickson

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