Establishing The A-Team So Investors Will Bet On You

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

Tuesday, February 8, 2005, 6-9 p.m.
Worcester Polytechnic Institute, Campus Center Odeum

WORCESTER, MA - January 25, 2005 - The team is the primary metric for investor support. Investors bet on the team most able to execute and deliver the plan. Jerry Schaufeld, Director of the Slater Fund, a venture development company offering resources and access to capital for early stage organizations, will speak at the February 8th meeting of the WPI Venture Forum. He will discuss his personal experience in establishing an A team, as well as provide advice on how to make it happen. According to Mr. Schaufeld, "Technology, markets, intellectual property, cash flow, etcetera, are important, but are secondary issues. The team comes first."

Mr. Schaufeld's experience in entrepreneurship, operations, and management of technology-based companies ranges from his current role as Director of the Slater Fund and Past President and CEO of Mass Ventures to hands-on roles in several early stage companies, including venture-backed Phoenix Controls. He also worked at Arthur D. Little, Disc Technology Corporation, Ferrofluidics, and Waters Associates in a variety of executive roles, including international sales and marketing, finance, engineering, manufacturing, and operations. Mr. Schaufeld was a founder and the first chairman of the MIT Enterprise Forum, a resource group for early stage companies with global outreach. He also founded the Incus Group, a business acquisition and resource organization, and is a member of Launch Pad Angel Group in Boston and co-founder of Cherrystone Angels in Rhode Island.

Case Presentation: Biowave Corp.

Following Mr. Schaufeld, the case presentation will be by Bradford Siff, Chairman, CEO, and President of Biowave, Norwalk, CT. An early stage company focused on minimally invasive neuromodulation pain therapy, Biowave aims to help physicians manage their patients' pain and reduce or eliminate opiate usage.

The WPI Venture Forum meeting will be held on Tuesday, February 8, 2005, 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.


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.