Valuation in Today's Challenging Economic Environment

FOR IMMEDIATE RELEASE/October 1, 2002
Contact: WPI Venture Forum, +1-508-831-5075

Worcester, MA - October 1, 2002 - The WPI Venture Forum, an organization devoted to developing technology-based entrepreneurship, has announced that the November 12th meeting will feature Elliot T. Williams, president of RCW Mirus. Mr. Williams will discuss valuation in the context of today¹s environment for early stage companies and firms anticipating an exit in the near future. Following Mr. Williams, the evening's case study presentation will be by Chad Joshi, PhD, founder and CEO of Energen, a firm that utilizes sophisticated, proprietary magnetic ³smart² materials (MSM) and software to meet the ever-increasing demand for precision positioning, vibration and fluid control solutions in scientific and industrial applications.

The WPI Venture Forum meeting will be held on Tuesday, November 12, 2002, at the Odeum Campus Center on the WPI campus in Worcester, MA. Registration begins at 6:00 p.m. and the meeting begins at 6:30 p.m. Registration cost is $10 individual, annual and lifetime members; and $20 nonmembers.

The Tools of Valuation

During his presentation, Mr. Williams will place particular emphasis on some of the more subtle tools and rights that venture capitalists use, including bridges, ratchets, pro-rata participation rights, and preferred stock instruments that can have a dramatic impact on the future value of a company. Additionally, he will highlight the effects of these provisions on the entrepreneur, the initial venture investor and future investors.

Mr. Williams serves as board advisor for several regional entrepreneurial companies. He is also a board member of the Association for Corporate Growth and an active member of the Boston Business Advisory Group, Boston Chamber of Commerce, and the Alliance of Merger and Acquisition Advisors. He earned a bachelor of science degree in business administration from Babson College and holds Series 7 and 63 NASD certifications.

Dr. Joshi, a graduate of WPI, will use his company, Energen, as the basis for a discussion of how to develop the best marketing and sales strategy for today¹s economy. Additionally, he¹ll delve into the issue of attracting and keeping highly skilled and knowledgeable employees to ensure success in the current market.


About the WPI Venture Forum

The WPI Venture Forum was created in 1990 to promote the entrepreneurial spirit and to serve those who engage in technology- based entrepreneurial enterprises by providing advice, support and education tailored to meet their needs. The forum fosters entrepreneurship through such activities as monthly programs, a business plan contest, a weekly radio show on News Radio WTAG (Saturdays, 5-7 pm, 580am), and a monthly newsletter.

The Venture Forum, as part of the Collaborative for Entrepreneurship & Innovation in the Department of Management at WPI, serves individuals who are seeking to begin their own technology-based businesses; founders, presidents, and senior managers of start-up or early-stage companies; senior managers of companies that are restarting or making a transition for one mode of operation to another; and employees leaving large companies due to a reduction in force or to start businesses.