Press Release Archive

January , 2005

FOR IMMEDIATE RELEASE:

Contact:
Liddy Karter
CT Technology Council
111 Founders Plaza
East Hartford, CT 06108
www.ct.org
www.ctipa.org
phone 203 376-7958 or
860 289-0878 x20
lkarter@ct.org or prasid@ct.org

Connecticut Technology Council Announces New Director
For Edwards Angell Palmer & Dodge LLP FastTrack Program

Business Development Program Matches Startup
Technology Companies with Mentor Network

Hartford, CT – January 25, 2006 -- The Edwards Angell Palmer & Dodge LLP FastTrack Program, the Connecticut Technology Council's innovation business accelerator developed in conjunction with the Connecticut Department of Economic and Community Development, announces that Liddy Karter will replace Keith Reynolds as the FastTrack program director. Liddy is also the Managing Director of the Angel Investor Forum, an angel investment group oriented toward investing in high growth companies. She is also the managing director of Karter Capital Advisors a consulting firm focused on raising capital and strategic planning for small and middle market companies.

“We are delighted that Liddy has joined our team to oversee this critical piece of our mission to grow the Connecticut innovation based economy,” noted CTC President and CEO Matthew Nemerson.

Karter was the CFO for Netkey, Inc and the CEO of Resource Recovery Systems, Inc. two high growth companies based in CT. She was also a Vice President in the investment banking division of Morgan Stanley and Co. Inc.. She holds an MBA from the Yale School of Management.

“With the continued support of private sectors players such as ourselves and the promise of new and increased funding from the State Department of Economic and Community Development I think we are poised to really begin to make a difference not just for the firms we choose but for the whole state,” said FastTracks volunteer chairman Vinny Kiernan, partner Edwards Angell Palmer & Dodge, LLP.

Karter will manage the process of selecting companies with the greatest potential for success to participate in the FastTrack program. The selected firms will be matched with the program’s network of industry, finance and business start-up expert mentors. The FastTrack firms will be given access to advice from and connections to volunteers for help with business development, funding and growth management as their needs are identified. They will participate in a development program designed to accelerate their growth.

One Mentor of a company, Les Trachtman actually joined his mentored firm as its CEO and soon grew the firm substantially by merging it with another company.

The Edwards Angell Palmer & Dodge LLP FastTrack program seeks to discover start-up firms and would-be entrepreneurs possessing innovative ideas that have the potential for rapid growth and market potential. FastTrack's mission is to create and then mobilize an expert network of investors, advisors, professional services providers and industry contacts – all volunteering to help the best qualified start-up companies position themselves for success and to create a stronger economy in Connecticut.

Once selected, FastTrack companies are assisted with business planning and relationships and capital access. Each company is supported mentors and advisors. In addition to introductions, entrepreneurial firms get to participate in a program of events designed to supplement their business growth and build their networks. Companies are selected throughout the year. Interested companies are encouraged to apply.

Some of the companies that have participated in the FastTack program including: e-Onehundred Group, IPxray LLC, Akademos, Inc., MScript, Inc., Phaon, Inc., Advanced Fuel Research, Inc., Chili Systems, Holotouch, Neos, Prescients and Premise Development Corporation.

ABOUT THE EDWARDS ANGEL PALMER & DODGE LLP FASTTRACK™ PROGRAM – Modeled after the best-of-breed examples from innovation centers, angel groups and incubators worldwide, the FastTrack program assists any Connecticut technology company with the potential to rapidly scale into market and secure customers. FastTrack is funded by a grant from the Department of Economic and Community Development and sponsored by the law firm of Edwards Angell Palmer & Dodge LLP, LLP with offices in Stamford and Hartford. The program was established under the aegis of the state’s Software Cluster, which is run for the state by the CTC, but membership is not limited to software or IT. More information can be found at: www.ctipa.org.

ABOUT CTC – The Connecticut Technology Council is the State’s industry association for the technology sector. CTC’s mission is to “connect people, ideas and opportunities to the global technology and innovation community.” CTC provides members with business assistance and specialized programs, in addition to promoting and supporting public policies that position Connecticut to have a globally recognized “culture of innovation” that helps attract great ideas and entrepreneurs to in turn develop new jobs and wealth for the state.