FOR IMMEDIATE RELEASE
October 20, 2005
College to Hold Reception for Advanced Technology Incubator
Entrepreneurs who need help starting high-technology ventures will now have a local resource. The Advanced Technology Business Incubator program, which will officially kickoff at a reception on Oct. 24, will help assist early stage companies thrive in this competitive world.
The incubator, a project of College of the Canyons, the Altadena-based Business Technology Center and the Community Development Commission of Los Angeles County, will provide member companies particularly to engineering-based technology firms with a variety of resources to promote business.
"The goal of the incubator is to create successful companies and reduce the risk of investment," said Mark Lieberman, administrator at the Business Technology Center, as well as help reduce the risk of failure for small businesses.
With more than half a million new businesses starting each year, "We believe that developing the Advanced Technology Business Incubator on our campus will not only benefit the companies involved, it will also provide great opportunities for our faculty and students to work with technology entrepreneurs. We also expect that the success of these companies will enhance the economic vitality of the region," said Dena Maloney, dean of economic development at the college.
The incubator will be housed in the University Center at College of the Canyons when the building is completed in 2008. In the meantime, incubator planners will offer mentoring, access to capital, training and other resources through an affiliated program designed to help early stage companies thrive.
According to Maloney, 14 mentors have been invited to share their expertise in fields such as sales/marketing, business plan development, legal/intellectual property, tax, business-formation planning, human resources and public relations.
Early stage companies can join the affiliate program for $500, which includes up to six hours of consultation with mentors, participation in brown bag lunches, breakfast briefings and other business assistance.
At the kickoff, Rick Smith, managing director of Palomar Ventures, a venture-capitalist company that helps early stage information technology companies, will speak about the outlook for technology investment in Southern California.
The kickoff reception will be held from 4 to 6:30pm on Oct. 24 in the foyer of the Vital Express Center at the college campus. Investors, entrepreneurs and business leaders are invited. To learn more about the reception or to receive an affiliate program information packet, call the College of the Canyons Economic Development Division at (661) 362-3305.