Regional News

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SciQuest Raises $2.5 million from Bessemer Partners


One of the nation's most active venture capital funds has made its first investment in the Triangle by taking a $2.5 million stake in Cary-based SciQuest, which has raised $7 million in the past three months from three powerful out-of-area funds. SciQuest is a graduate of CED's FastTrac training program and presented at Venture '98.

Relativity Technologies Signs Deals with Intel and Netscape


Relativity Technologies has finalized partnerships with Silicon Valley giants Intel Corp. and Netscape Communications Corp. Relativity presented at Venture '98.

Tivoli to Expand Durham Operation


Software developer Tivoli systems Inc., an Austin, Texas-based developer of network software, plans to spend $28 million to build two 100,000-square-foot buildings in Durham, next to IBM, and it is a wholly-owned subsidiary of IBM.

a4 Health Systems Lands Investment from John McConnell


Former Medic Computer Systems CEO John McConnell has invested $4 million in a4 Health Systems of Cary, and will help a4 Health develop new business and expand its industry relationships.

Hottest Technology, Coolest Applications on Display at Software '98


Come see the most innovative technology companies in the Research Triangle area when they display their latest products and technologies at Software '98 on Friday, October 16, 1998, from 8 a.m. to 6 p.m. at the Kenan-Flagler Business School, McColl Building, on the campus of the University of North Carolina at Chapel Hill.

The region's eighth annual software conference is sponsored by CED. Twenty demonstrating companies were named in first round selections; more companies will be named in the coming weeks. In addition to up-and-coming companies and their new products, the conference will offer opportunities to network with potential investors and partners, and lively discussions about hot industry issues. Registration for the conference is required.

Apply Now for STREAK!


Are you seeking early stage capital for your growing company? Do you need mentoring from experts in presenting you company for venture capital Apply now for STREAK, CED's venture forum that provides young potential high-growth companies with access to mentors, potential investors and increased visibility. Application deadline is September 25, 1998.

STREAK is designed for entrepreneurs with exciting ideas who will be seeking an early round of capital in the next six months and who can demonstrate equity investment potential. Prospective STREAK candidates must submit an application and executive summary to be considered for the program. Two companies will be selected each month to submit their business plan to a four person mentoring team consisting of investors, legal advisors, CPA's, experienced entrepreneurs and marketing experts. The team will study the business plan, and the entrepreneurs will give a "behind closed doors" presentation to the team. The team will then candidly critique the business plan and presentation, make recommendations, and will provide ongoing mentoring for the company. For more information, contact Suzanne Cantando at CED.

Check Out Upcoming CED Programs and Events!


FastTrac Information Session

Date: October 14, 1998
Time: Noon - 1 p.m.
Location: CED/RTP
Fees: None - lunch provided
Contact: Dan Allred
Register: http://www.cednc.org/applications/FTInfoSessions.html

Do you have an idea for a new business but need to develop a plan?
Do you want to increase your business revenues and profitability?
Do you need to develop a business plan to seek funding or for strategic purposes?

Join us for lunch to learn about the FastTrac entrepreneurial training program!

  • More than 26,000 people have taken FastTrac since its inception in 1986. FastTrac graduates outperform non-graduates in all business measurements.

  • The SBA reports that only 40% of new businesses are still in existence 5 years after start-up, but 74% of FastTrac businesses are still operating successfully.

  • 40-55% of FastTrac graduates more than double their sales within two years of graduation.

Software '98 Conference
Date: October 16, 1998
Time: 8 a.m. - 5 p.m.
Location: The Kenan-Flager Business School, McColl Building, UNC-Chapel Hill, NC
Fees: CED Members $195 Non-Members $245 Add'l Company Reps $145 Students $25 (Payment should accompany registration)
Contact: evelyn@cednc.org
Register: http://www.cednc.org/software/98/applications/register_form.html

Software '98 is the Southeast's pre-eminent software industry conference. CED's eighth annual software conference, S'98 showcases the best of North Carolina's $3 billion dollar software industry, provides networking and demos the hottest new products in the area.