Archives of the Mayor's Press Office

FOR IMMEDIATE RELEASE
Date: Monday, June 21, 1999

Release #239-99

Contact: Sunny Mindel/ (212) 788-2958


NEW YORK CITY WELCOMES TECHNOLOGY COMPANIES TO 4th ANNUAL VENTURE CAPITAL CONFERENCE

57 Companies to Exhibit and Present; 600 Expected to Attend Mayor Rudolph W. Giuliani today announced the kickoff of the Fourth Annual New York City Venture Capital Conference at the Marriott Marquis in Times Square

"This year's conference has attracted more companies and investors than ever before, proving once again that New York City is The Capital of the World For High-Tech Business," said Mayor Giuliani. "Since we first hosted this conference in 1995, venture capital investment in metropolitan area software and information firms has more than quadrupled. This conference is designed to help some of the City's brightest entrepreneurs attract investors by forming partnerships with venture capitalists from across the country."

The conference, which will run through Wednesday, June 23, is sponsored by the New York City Economic Development Corporation (EDC). It will feature 25 companies, which will present business plans to investors, and 32 entrepreneurial exhibitors, who will display their products and services to the anticipated 600 attendees.

"The expansion of this conference from 25 companies to 57 is a direct reflection of the tremendous growth of Silicon Alley and its position in the global high-tech community," said Randy Levine, Deputy Mayor for Economic Development, Planning and Administration. "The number of software and information firms in New York City has doubled since 1992 to approximately 3,000 companies, and the City's high-tech industry has fast become a leader in web content and software technology."

Highlights of this year's conference will include a panel discussion with WinStar Chief Executive Officer William Rouhana, a presentation of the Alley Award to barnesandnoble.com Chief Executive Officer Jonathan Bulkeley, and various panels and workshops for entrepreneurs on obtaining venture capital investments.

"New York City is committed to helping our high-tech community grow and compete successfully in the global marketplace of the 21st century," said Michael Carey, Acting President of EDC. "The Giuliani Administration created this forum four years ago to help the city's entrepreneurs attract capital, and it's terrific to see the success of companies such as Earthweb and About.com that have presented at our previous conferences."

Many participants of past New York City Venture Capital Conferences were able to make valuable contacts with investors and with high-tech industry members, and subsequently met with much success.

"GORP received two key benefits from participating in the New York Venture Conference," said Bill Greer, founder and president of GORP, an outdoor products company that presented at the 1997 conference. "First it provided great exposure to both the New York venture community and the Internet community, and getting your name out there is a big part of the game. Secondly, it gave us another chance to present our business and refine our presentation, which ultimately has led us to a multi-million dollar financing for GORP in 1999."

Joel Morse, President of C3i, a computer support services company that presented at last year's conference, said, "This conference provided us with a forum to discuss our business plan with investors and other companies in our similar situation. The information we received and the contacts that we made were extremely valuable. The conference was an important element in our successful effort to raise capital."

Steve Brotman, Chairman of Silicon Alley Venture Partners, a venture capital firm that has attended past conferences, said, "The New York City Venture Capital Conference is a must-attend Silicon Alley VC event. The format is great; SAVP was able to meet dozens of great companies in a short period of time, and we followed up aggressively with quite a few."

Burt Alimansky, Chairman of New York Venture Group and New York Business Forums, and conference organizer, said, "This event is the number-one opportunity for venture investors to be introduced to the best young companies New York City has to offer. New York City is at the crossroads of the World and this is where venture capital is crossing paths with the media industry. Last year's conference was the best prelude for this year's conference."

The following companies have been selected to present business plans at the conference: