"Further to our discussion yesterday of IGNITE’s value, I spent Nov. 1999 to April 2000 on my own trying to start this business selling Medifast Coupons…I made very little progress, and my wife rightfully was begging me to get some partners…We have worked together for 6 months now, fairly intensively and fairly systematically. The results are outstanding…Contrast the last 6 months to the first 6 months…feel free to use me as an example of "igniting" a wallowing technologist."
Thanks,
Steve (an IGNITE! startup technology partner)
Some of the world’s best technology fails to achieve its potential because either it isn’t effectively commercialized or it just sits on the shelf and is never used. The reason for this is that starting a technology company is a daunting challenge, whether for inventors, a corporate R&D team, or an academic lab. Scientists and engineers often try both to run their startups and to drive product development; industry doesn’t know how to spin off technology into new ventures; and great technologies languish in university licensing offices for lack of entrepreneurial initiative.
Because starting an effective business to commercialize technology is not easy, it is not surprising that most people make even the most basic mistakes trying. Like most difficult challenges, startup experience makes a huge difference in avoiding serious pitfalls in favor of making good decisions that build great companies. The more companies you start, the fewer mistakes you’ll make, and the better the companies you’ll build.
That’s where IGNITE comes in. We do nothing but start
technology
companies…high-tech startup specialists, if you will. We’re not
venture
capitalists, we’re not an “incubator,” and we don’t join existing
companies as consultants. Instead, we start companies when nothing
exists
but the technology, fully engaged as co-founders to do the hard
work
required - whatever it takes - to get companies up and running.
We are seasoned, multi-skilled and technically-trained business
professionals with large networks of talent, capital sources and
other
resources who start companies quickly, smoothly, and on a solid
financial
and management foundation. IGNITE is the startup executive team,
handling
the countless startup details. We conceptualize the business,
including
positioning and going-to-market strategy; we assemble all the
pieces
required to attract high-value funding; we identify and help
secure savvy,
helpful investors and negotiate the best terms possible; we build
world-class teams and boards; and we tap some of the world's best
strategic business partners and initial customers. Post-startup,
IGNITE
transitions our management responsibilities to the permanent
executive
team, the board and the investors we have helped recruit. As a
co-founder
and owner, however, we remain involved, e.g., as board member and
as
ongoing business and personal advisor to the technologists.
We start companies in several ways. One way is to team with
technologists to launch and build their company around them,
allowing them
to remain focused on further developing the technology while still
remaining in control of their startup. With IGNITE as their
startup
management partners, technologists avoid becoming consumed by
business
details, accelerate the commercialization of their technology,
maximize
their long term financial gain, and trust that IGNITE is expertly
launching their business in their best interest. IGNITE’s
compensation
typically is founders stock, which makes our interests perfectly
aligned
with the technologist’s and which keenly motivates us to help
technologists succeed.
Another way we start companies is to license technology from a
company or
university and to build the entire company from scratch,
including the technology team. This enables the inventors of the
technology to remain at their current jobs, although typically
they
contribute to the startup in a part time role. This approach
gives the licensee of the technology confidence that it will be
fully
commercialized.
Our entire focus is to successfully commercialize technology by starting companies when nothing exists except the technology, i.e., before the company is launched. We are engaged in only a couple of startups at any one time and, therefore, we carefully select only those with enormous potential. Typically, this means disruptive technology that requires further development before commercialization in threshold areas of the internet, wireless, broadband, semiconductors, nanotechnology, network infrastructure, software, energy and biomedical devices.
IGNITE's team consists of three Leaders, one Advisor, and more than 10 Associates. All are seasoned professionals, usually with 20-30 years of experience in technology and business. Nearly all are technically trained. The majority have MIT degrees. IGNITE! assembles the best combination of team members to work on each startup.
LEADERS
Bruce N. Anderson,
CEO,
is a veteran entrepreneur and business
executive. He has launched
five technology enterprises where he had complete leadership and
bottom
line responsibility, including strategic visioning; executive and
board
team building; branding, communications, marketing and sales; and
financing. He earned three degrees
from MIT. Until early 2000, Bruce directed
MIT's premier
university/industry program where he worked closely with its
administration, lab and center directors, faculty and students.
There, he led a senior professional staff of 20 who
initiate,
create and manage technology alliances and other relationships
between MIT
and top technical and management executives of 200 Fortune 2000
companies
in 22 countries that together spend $75 million per year at MIT.
He has served on numerous boards of directors and has twice
testified to Congress.
Douglas A. Zingale, Special Advisor and Legal Counsel, heads the Boston office of the national law firm Greenberg Traurig LLP. He is immediate past Co-Chairman of the Business and Finance Section of the law firm of Mintz Levin Cohn Ferris Glovsky Popeo PC. Doug has broad experience representing high technology companies, venture capital funds and underwriters. Typically, Doug acts as the general manager of the client’s relationship with the firm and as an advisor to senior management on strategic business and transactional issues. His clients frequently make use of his contacts and experience with underwriters, venture capital firms and placement agents. They value and make use of his extensive experience in complex negotiations. Recent transactions include the sale of a token ring switching company to Cisco Systems, Inc.; the purchase of an Internet company by America Online, Inc.; and venture capital financings for several software companies focusing on internet applications and a networking hardware company. He received his SB in Management from MIT in 1973 and his JD cum laude from the University of Michigan Law School in 1978. He is an active member of the MIT Enterprise Forum.
Ken Estridge, Senior Business Advisor, is the President of Enterprise Development Group, a consulting firm that provides executive coaching, strategic planning and financial planning for CEO’s of start-ups and growing companies. Ken is an experienced entrepreneur and executive who is skilled in creating, leading and advising high growth companies. He founded and served as CEO of two companies and co-founded two others. Ken helps start-ups and growing companies create winning business plans and he assists them in raising funds. Ken also works as an Executive Coach for Lore International Institute where he provides executive coaching to senior management of Fortune 500 companies. Ken is an active member of the MIT Enterprise Forum and has served as a panelist for their Start-up Clinics. He has been a guest panelist &/or lecturer at Harvard, MIT Sloan School, Babson and Northeastern. He currently serves as a Director of two companies. Ken received a DBA degree from Harvard Business School in 1974, an MS from MIT Sloan School of Management in 1968 and a BS from MIT in 1966.