CED News

Shawn Ramsey of Crossroads Public Relations, a member and active supporter of the Council for Entrepreneurial Development (CED), writes about the challenges, opportunities and benefits associated with evaluating the success and/or value of your public relations program.

With financial powerhouses crumbling and our nation facing a full-blown economic crisis, we all know that times are tough. The trickle down effect of our struggling economy is hard on all businesses, but can be especially trying for small start-ups. As budgets shrink, entrepreneurs must look for places to streamline costs, making a critical call between what is a necessity and what is a luxury. One of the programs often evaluated during times like these is Public Relations (PR). This article will help you dissect the challenges, opportunities, and benefits associated with evaluating the success and/or value of your PR program.

Challenges: Doing more with less - competing cost-effectively

A survey conducted late last year by MarketingProfs-Forrester showed that 95% of B2B marketers did not plan to decrease marketing budgets when facing a possible recession. However, with limited dollars and resources, young entrepreneurial companies may have no choice but to streamline operations wherever possible. They may be forced to do more with even less while continuing to compete with larger players (with larger budgets) in the market.

Opportunities: Focus on areas of your business that give you the most bang for your buck

Smaller entrepreneurial companies typically can't afford to compete with those larger companies in a lot of areas, including advertising and glitzy marketing campaigns. But, PR offers a cost-effective way for them to build awareness and establish thought leadership, allowing them to compete on a more level playing field. If companies cut PR budgets too quickly without evaluating their true value, they risk falling off the radar screen and losing any momentum you may have already built in the marketplace.

The first step in evaluating the true value of your PR program is to determine whether or not it is helping you meet your overall goals and objectives. Clearly-defined metrics and consistent reporting are an important part of this evaluation.

Learn more on how PR can affect your bottom line...

We would like to thank the newest members to join CED - the oldest and largest entrepreneurial support organization in the nation. Without their support, we could not achieve our mission to identify, enable and promote high-growth, high-impact companies in the region.

September members include:

-Tryton Medical, Inc.
-Savvy Event Designs LLC
-Alana Krotzer
-Mindsong Consulting, LLC
-Eliza Lloyd
-Interactive Resource Group
-Ethical Advocate
-Ascon Health Inc.
-De Teague
-Terregena Inc.
-AAIPharma
-Bruce McCreedy
-Qliktech
-Rosalind Batson
-Pavak Shah

Not a CED Member? Click here to join today and save on your next conference or program registration!

CED's 2nd annual Medtech conference will be held at the Fuqua School of Business in Durham May 14, 2009. The conference will explore the entire spectrum of the medical technology space, bringing expert speakers and panelists from across the nation to address a range of industry opportunities and issues.

CED's Medtech 2009 will feature remarks from William A. Hawkins, chairman & CEO, Medtronic, Inc. Medtronic, Inc. is the world leader in medical technology and pioneering therapies. They serve patients and medical professionals in more than 120 countries.

CED would also like to thank our Medtech 2009 conference co-chairs J. Greg David, president & CEO of Tryton Medical, Inc. and Karen LeVert, president & CEO of Southeast TechInventures, Inc., for their help in putting this conference together.

For more information about CED's Medtech 2009 conference, visit www.cednc.org/medtech or contact Jessica Hegele at 919.549.7500 x103.

CED, Southern Capitol Ventures and Hutchison Law Group teamed up with the North Carolina State University (NCSU) Engineering Entrepreneurs Program to help match students with technology firms in the region.

More than 30 students participated in the first tour which took place Tuesday, September 23 that ended with a dinner at the CED Entrepreneurship Center. The second tour will take place October 7.

Companies that are participating in the tour include:

-ChannelAdvisor
-Canvas On Demand
-Cisco
-Cree
-eTix
-iContact
-Inspire Pharmaceuticals
-ReverbNation
-SciQuest
-Square 1 Bank

Click here to read the WRAL LocalTech Wire article for more information regarding this program.

Learn how to develop a business, finance and marketing plan at CED's FastTrac® TechVenture™ program starting October 7. FastTrac® TechVenture™ is an entrepreneurial training program that addresses the needs of start-up entrepreneurs practicing and refining their business pitches and seeking to grow high-tech, life science, or other high-growth companies.

Apply today or refer a fellow entrepreneur- visit www.cednc.org/fasttrac.

Dates: October 7 - December 16, 2008 (Tuesday evenings)
Time: 5:30 to 9:00 p.m.
Location: CED Entrepreneurship Center, Suite 106, RTP, NC
Fees: CED Members $595; Non Members $695
Apply today: www.cednc.org/fasttrac

What graduates are saying about FastTrac® TechVenture™:

"FastTrac TechVenture is an education and a revelation. Along with imparting vital information on marketing, finance, sales, business and technology, the program delivers its most effective impact by mentoring and by peer-feedback. The ten weeks of information has been enlightening and the contacts made will be invaluable. I recommend this course to any novice entrepreneur." Liam Pender, Egret Technologies

"I strongly recommend the FastTrac TechVenture program to anyone considering a new business or seeking to raise capital. The program allowed me to develop relationships with highly skilled mentors that were readily available to roll up their sleeves to help me move my business forward." Jim Greene, CEO, RouterWare, Inc.

"FastTrac TechVenture was everything I thought it would be and more. It was a great investment of my time and it has given me additional insight to turn around the performance of my business and grow it to scale." Charles Wilson, CEO, INTELLUS

For additional information, visit www.cednc.org/fasttrac or contact Chad Moore at cmoore@cednc.org or 919.226.0465

On September 25 Joan Siefert Rose, president of the Council for Entrepreneurial Development (CED), will speak at Breakfast in the Park. Breakfast in the Park is a monthly breakfast speaker series held at the Brier Creek Country Club from 7:30 - 9:00 a.m., co-hosted by Council for Entrepreneurial Development (CED) and Business Leader Media.

About Joan Siefert Rose

In August of 2008, Joan Siefert Rose took over as president of the Council for Entrepreneurial Development. Prior to this position, Rose was the general manager of North Carolina Public Radio - WUNC; a position she held since 2001.

As general manager Rose oversaw a strategic planning process that led the station to change its format later that year to news and information. Since then, the station's audience has grown and the staff and annual budget have doubled in size. A successful capital campaign completed in 2007 provided new broadcast studios at the American Tobacco Historic District in Durham, the creation of the nationally distributed program The Story with Dick Gordon, and the establishment of the "Innovations Desk" for the public radio program Marketplace. Other significant programming achievements include the hiring of former NPR newscaster Frank Stasio to host the midday interview program The State of Things, and a news department that was honored with the DuPont-Columbia Journalism award, the broadcasting equivalent of the Pulitzer Prize.

Rose spent 15 years in commercial radio in North Carolina and Michigan earlier in her career. She also worked in health care planning and marketing prior to joining public radio in Ann Arbor, Michigan, in 1997. She has an undergraduate degree from Middlebury College in Vermont and a master's degree in public health from the University of Michigan. She lives with her husband, Jim, and their two sons in Chapel Hill.

To register for an upcoming Breakfast in the Park, visit www.businessleader.com/bip and click on the Purchase Tickets or Purchase Tables links. Tickets are $20 each.

Attend CED's next Biotech Forum to hear experts discuss the ins and outs of adaptive clinical studies including:

• How to save time and costs
• The benefits of adaptive trial design
• Regulatory issues
• Virtual models vs. Build-out models
• Strategies to get trials complete and on time while getting good data

Michael Rosenberg, MD, MPH, president and CEO, Health Decisions, Inc. will explore the what, when and why of adaptive clinical studies at the September 22 Biotech Forum. Subsequently, a premier line-up of panelists will discuss how to choose the best trial, tricks of the trade, and how to choose a Contract Research Organization (CRO).

CED's Biotech Forum: Clinical Trials - Adaptive Trial Design & Best Practices in Clinical Development Strategies
Date: Monday, September 22, 2008
Time: 4:30 - 8:00 p.m.
Location: North Carolina Biotech Center, Research Triangle Park, NC - Directions
Fees: $25 CED Members / $40 Non-members ($45 on-site)
Seating is limited - register today - www.cednc.org/btforum

Featured Panelists Include (partial list):
• Vipin K. Garg, Ph.D., president and CEO, Tranzyme Pharma Inc.
• Moise A. Khayrallah, Ph.D., CEO and co-founder, Addrenex Pharmaceuticals, Inc
• Michael Rosenberg, MD, MPH, president and chief executive officer, Health Decisions, Inc.
• Nadia Rupniak, Ph.D., vice president, research and development, CoLucid Pharmaceuticals, Inc.
• Drusilla Scott, Ph.D., R.A.C., senior vice president, regulatory affairs, Cempra Pharmaceuticals, Inc.

For more information, contact Elizabeth Call at 919.549.7500 ext.130 or visit www.cednc.org/btforum

The Food and Drug Administration (FDA) approval process for products containing software used in hospitals, diagnostic labs and medical devices is challenging, complex and costly. Companies that build these innovative solutions, and their customers, cannot afford to be less than 100% certain about these systems. Code Refinery, a private, seed funded triangle-based business, gives companies focused on building medical device and clinical diagnostic solutions complete confidence in their product's software and peace of mind that it will meet the highest standards for FDA compliance. Code Refinery's software solutions save companies time and money in getting their products to the marketplace. Some local clients include Advanced Liquid Logic, Amphora Corporation, bioMérieux, LipoScience, Scynexis, Sicel Technologies, Tecan and TriPath Imaging (BD Diagnostics).

FastTrac to Success
Code Refinery has been a member of CED since 1998 and has participated in many workshops, programs and conferences. The company was one of the first participants of the FastTrac® class in 1998 when they were known as "The Technology Integration Group." In 2002, the company rebranded and became Code Refinery. During FastTrac®, they met their attorney Fred Hutchison, and long-time mentor and advisor Orlan Johnson. Samir Dandekar, partner and director of business development for Code Refinery, now co-instructs the life science section of the FastTrac® TechVentureTM program. Dandekar enjoys giving back to CED's network of entrepreneurs by mentoring emerging companies. He is able to provide hands-on industry expertise related to medical devices and diagnostics thanks to his experience building Code Refinery.

Entrepreneurial Insight
The ability to network and interact with the entrepreneurial community has aided in the growth of Code Refinery by enabling them to reach potential customers and partners. "The opportunity to expand your circle of influence and establish meaningful relationships is a must in today's business climate," explains Dandekar. Dandekar adds that a solid confidant during the good times and not so good times is necessary for any start-up. Code Refinery's participation with CED has provided them the opportunity to network, expand their circle and learn.

Learn more about Code Refinery at www.code-refinery.com.

To learn more about CED membership or the programs mentioned above, visit www.cednc.org.

The internet economy continues to grow and evolve with new business models, innovative ideas and paradigm shifting technologies. The goal of the Internet Summit is to promote forward thinking and thought leadership on topics related to internet technologies and web 2.0. The event will take place November 19 at the Friday Center in Chapel Hill and will spotlight the spirit of prosperity through evolving internet and web 2.0 technologies.

The Internet Summit will feature hundreds of executives, business strategists, entrepreneurs, investors and marketers for expert content on internet trends and opportunities created by web 2.0 technologies, social media, online advertising, widgets, online video and other essential new web oriented technologies. Register today to hear from industry leaders and innovators on the future of the industry, how to capitalize on the shifting dynamics of the internet and tap into its unlimited business potential. Be sure to visit CED's on site lounge for a meet and great with all of the speakers and panelists.

For more information on the Internet Summit, please visit www.internetsummitevent.com or contact Jessica Hegele at 919.549.7500 x103.

CED's 18th annual Biotech Conference, happening February 16-17 at the new Raleigh Convention Center, will unite the Southeast's life science community to celebrate one of the biotech industry's most dynamic regions. This two-day conference will feature world-class speakers and panelists, such as the honorable James C. Greenwood, president and CEO of the Biotechnology Industry Organization (BIO) and Dennis Gillings, chairman and CEO of Quintiles Transnational Corp.

Join industry executives, including the region's most innovative biotech entrepreneurs, major pharmaceutical companies, research leaders, policy makers and nationally prominent investors at the Southeast's premier life science event- CED's Biotech 2009.

For more information on CED's Biotech conference, including registration and sponsorship information, visit www.cednc.org/biotech.