Press Releases
February 23, 1999 |
Contact: Dan
Allred |
CED Helps Aspiring Entrepreneurs Through FastTrac Program
Research Triangle Park (February 23, 1999) - Twenty-six aspiring entrepreneurs are participating in the spring FastTrac class being offered by the Council for Entrepreneurial Development (CED). The first class met Monday, February 22.
FastTrac is an 11-week comprehensive business-training program created to help emerging entrepreneurs launch and grow their companies wisely, successfully and profitably. It combines interactive instruction with one-on-one coaching, peer learning, guest speakers and comprehensive business planning.
"CED's mission is to stimulate the creation and growth of high-impact businesses, and that is definitely reflected in our FastTrac classes," said Dan Allred, CED training coordinator. "The Triangle economy has reached the point where innovative technology and sound business ideas are demanding the kind of comprehensive business planning that CED's FastTrac program provides."
To date, more than 30,000 entrepreneurs in the United States and more than 300 in the Triangle have improved their businesses by completing FastTrac. Research shows that FastTrac graduates outperform other entrepreneurs in all business measures, including annual sales increases and employment growth. Five-year success rates for FastTrac companies are twice the national average.
CED also recently honored last year's FastTrac graduates and instructors at the annual FastTrac Graduation Extravaganza on January 26, 1999. Sixty-one people representing more than 50 emerging businesses were recognized for their completion of the FastTrac program, and 10 instructors and business counselors were thanked for their contributions to the class.
In addition to the graduation ceremony, CED recognized several entrepreneurs with the presentation of the Annual FastTrac Graduate and Alumni Awards. Award recipients were:
- FastTrac Growth Company of the Year - Peyton Anderson and Scott Andrews, SciQuest - in recognition of outstanding growth.
- FastTrac Up-and-Comer Awards - Graham Poor, Bonita Software; Mihail Lari, Electrifier Inc.; Donovan Moxey, LIPSinc. - in great anticipation of future success.
- FastTrac/CED Advocate Award - Ben Kittner, TechKnowledge Communications and Flint O'Brien, iRenaissance - in recognition of advocacy and sustaining support through time and service to CED and FastTrac.
- Lumpkin Award - Marshall Brain, Interface Technologies, Inc. - in recognition of excellent public relations/visibility.
- Close, But No Cigar Award - Peter Skillern, who completed the FastTrac program but was unable to establish a viable business, for undying determination to pursue the entrepreneurial dream.
SciQuest, North Carolina's nominee for the national competition for the FastTrac Company of the Year, went on to become a national finalist in the FastTrac Growth Company of the Year competition.
About CED
The Council for Entrepreneurial Development, located at the CED Entrepreneurship Center in Research Triangle Park, NC, was formed in 1984 to stimulate the creation and growth of high-impact companies in the greater Research Triangle region. CED provides education, mentoring and capital formation resources to new and existing high-growth entrepreneurs. CED sponsors annual conferences, seminars, workshops and monthly programs on entrepreneurial management and finance. CED also offers the FastTrac entrepreneurial training program, youth programs and other outreach programs.
CED is a private, non-profit organization and is the largest entrepreneurial support organization in the nation with more than 3,000 members representing 1000 entrepreneurial companies, financiers and professional firms.