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/


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!


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.



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.


Businesses (and TV Shows) Embrace Twitter

February 9, 2011

Sharyn

I heard about a series taking place on LIVE! with Regis & Kelly last week where Regis was learning how to “tweet” in 15 minutes a day. Then, on Sunday morning I was catching up on some DVR’d television shows, and while watching Grey’s Anatomy I picked up on the storyline that Chief Webber was upset with Bailey because she was “tweetering” during surgery. Both Regis and the Chief ended up seeing the benefits of Twitter for their business by the end of the storyline.

Similar circumstances and fears that Regis and Chief Webber faced seem to affect employers in the real business world. They are usually intimidated, don’t understand Twitter, or think that all this social media stuff is just for college aged students, but with a little research and guidance they begin to see how Twitter can add to the marketing plan for their business.

I talked about this with my colleague, Bobbie Laur, who is a project manager with the Integrated Marketing Team and also dabbles in teaching the ins and outs of social media. She has a few tips for the small business owner who is entering the twitter world:

  1. Know your audience—using a twitter search app you can easily identify and begin following the influencers in your region and industry.
  2. Perfect your profile—Having an articulate and intriguing profile will be the key to attracting followers.
  3. Manage your tweets—Twitter can be overwhelming, especially initially, so use a management tool like tweetdeck or hootsuite to assist in scheduling and managing your tweets.

Twitter is just one of many applications available to businesses today to assist with increasing brand recognition, building customer relationships, and increasing sales.  IMT helps clients evaluate their social media marketing efforts and consider which social media tools will benefit them the most.

To find out more about social media strategy development, visit the Integrated Marketing Team’s website.


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.


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.


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.


Video: DECO’s 2010 Holiday Card

December 13, 2010

Bobbie

For those that voted—No it wasn’t Jingle Bells, Frosty the Snowman, or Rudolph—our 2010 holiday video card includes our talented staff and students singing (and in some cases dancing) to our version of the 12 Days of Christmas.  Jenn Lake, our student graphic designer, deserves a  big THANK YOU for all her work in producing this year’s video.


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