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| [October 12, 2005] |
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Mothers of Invention Pioneer Practical Side of Technology; Springboard Companies Bring Common Sense Technologies to Market
WASHINGTON --(Business Wire)-- Oct. 12, 2005 -- The over supply of newer, better, faster, cheaper technological innovations, meant to make our lives easier, are increasingly viewed as "nice" to have rather than "need" to have. Interesting gadgets, gizmos, routers and switches are solutions searching for a market. Never regarded as early adopters, women have taken the initiative to integrate science and technology into our everyday lives. They're making 'omelets out of eggs' and bringing them to market with the intention of making a substantial amount of money in the process.
Springboard Enterprises, a non-profit organization based in Washington DC, has been working with women since 2000 to increase their access to equity markets. Women participating in Springboard Enterprises' Venture Forums have earned their stripes through considerable academic achievement, impressive careers in the lab, prestigious positions in corporate divisions and by testing the entrepreneurial waters as team members of start up companies.
"These bold women are the beneficiaries of Title IX's emphasis on achievement and access for girls and women," said Kay Koplovitz, entrepreneur, author, investor and Chairman of the Board of Springboard Enterprises. "Now they are taking the helm, putting their expertise to work and executing those businesses brilliantly." Notable for their personal and professional achievements, recent Springboard alumnae include:
Ginette Serrero, theranostics pioneer, founder and CEO of A & G Pharmaceutical Inc, is a protein biochemist who discovered GP88, a cancer growth factor present in over 80% of all breast cancers. The company has recently raised money to fund the development of diagnostic tools that would measure the presence of GP88 in the body through biopsy and blood tests to detect breast cancer and monitor a cancer patient's response to therapy.
Alla Weinstein, CEO and co-founder of AquaEnergy Group Ltd, is an electrical engineer with an MBA and 25 years of experience in the energy field. Her company is on the cutting edge of the international renewable energy movement harnessing the energy potential of oceans.
Dr. Alexandra Graham, holder of several patents in analytic and process chemistry, is co-founder of LaGray Chemical, a company pioneering the push toward self-sufficiency in healthcare in sub-Saharan Africa. With a multi-million dollar OPIC grant, LaGray will be the first to develop and manufacture active pharmaceutical ingredients in Western Africa.
Linda Hall Whitman, PhD in clinical social work and education and 25 years of management in service and manufacturing businesses, is successfully scaling a hot new medical services company MinuteClinic. The company provides an affordable and fundamentally better way to diagnose common illnesses and provide the right remedy, quickly and conveniently.
Dr. Mae Jemison, CEO of BioSentient Corp, is a chemical engineer, medical doctor, and Endeavor shuttle astronaut. Her company is commercializing a wearable diagnostic device she wore on her NASA shuttle mission, designed to control and transmit wireless information about the functioning of a person's autonomic nervous system (ANS).
Laila Razouk, CEO of BioVitesse, is an electrical engineer with a 30-year career directing software and chip design for AMD. BioVitesse, spun out of Purdue, her alma mater, is developing systems that detect and identify live bacteria in hours rather than days or weeks.
The new products and services that women are bringing to market are not just novelties but timesaving, quality-of-life solutions. The Marketplace is responding enthusiastically and so is the investor. Springboard companies have raised $3 billion in equity, grants and strategic investments. "These are innovations we can all get excited about," according to Amy Millman, President of Springboard. "And the women leading these companies, most of whom have had distinguished careers in science, technology and business, are smart, savvy, skillful and successful."
Seventy-five percent of Springboard alumnae hold advanced and/or professional degrees and over two-thirds are seasoned entrepreneurs. Four have taken their companies public. Fourteen women-led businesses recently presented their companies at the CWET-Springboard: Midwest Venture Forum in Chicago, September 28 and twenty-five more businesses are lined up to present at the 6th annual CWE-Springboard: New England Venture Forum in Boston on November 18. For more information visit www.springboardenterprises.org
About Springboard Enterprises
Springboard Enterprises is the go-to organization for information about and support for venture-capital seeking women entrepreneurs. This national non-profit was established in 2001 and today supports a national network of entrepreneurial organizations and investors committed to support venture-backed enterprises. In addition to conducting venture forums annually, Springboard co-hosts educational workshops and seminars informing women entrepreneurs about financing their businesses via the equity markets.
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