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Dingman Center News -
Press Releases
Dingman Center Supports Local Brewery Entrepreneur
College Park - November 17, 2004
- The Dingman Center for Entrepreneurship
at the University of Maryland's Robert H.
Smith School of Business granted $10,000
in start-up funding to local entrepreneur,
Matthew Fleischer, owner of Hook & Ladder
Brewery Co.
Dingman's Managing Director, Asher Epstein,
says, "our goal is to play a key role in
continuing the development of a thriving
and growing local entrepreneurial community;
this award is one reflection of achieving
this goal."
Fleischer, a second year MBA student at
Smith, founded the brewery with his brother
in 1999. Hook & Ladder won a Gold Medal
in 2001 at the Great American Beer Festival,
considered to be the "Academy Award in the
beer industry." Hook & Ladder has distributed
its beer in California, Florida, and Washington,
DC. Fleischer will use the funding to expand
his brewing company in the Washington, DC
and Baltimore, MD areas.
Fleischer is a Dingman Scholar, an Associate
with the New Markets Growth Fund, and President
of the Entrepreneurship Club. The Dingman
Center will offer samples of Hook & Ladder
on December 2 from 4:00 -- 7:00 p.m. at Smith's
Spirit Day, when other items sponsored by
Dingman entrepreneurs will be available
for purchase by holiday shoppers.
Dingman Center Launches Region's First Minority
Business Development Center
College Park - April 6, 2004 - The Dingman Center, working with the National
Community Reinvestment Coalition, officially
opens the region's first Minority Business
Development Center (MBDC) on April 14. The
Washington center will focus on gaining
high-growth minority businesses - not traditional
mom-and-pop shops - access to capital and
markets, as well as providing general business
consulting services to improvement opportunities
and economic performance, said MBDC Director
Reginald Richter.
Hot Dog Vending
Machine Wins High Marks
Leon Leykin came to America 16 years
ago, from his native Russia. He came with
his wife and daughter, and a talent for
electrical engineering innovation.
When he discovered it was impossible
to get decent hot food (he enjoyed hot dogs!)
on off times in public places, he determined
to remedy the problem.
He did, with a machine that delivers
any time of day or night. The customer simply
feeds the proper amount of money (or a credit
card) into the slot, and makes a choice
of condiments. The sophisticated machine
takes care of the rest, grilling a tasty
hot dog nestled in a fresh bun, all in one
minute. Most impressive is that the whole
process unfolds before the customer's eyes.
How this marvel of ingenuity got to the
marketplace is a classic technology-to-commercialization
story. Leon had the technical know-how,
but had no clue as to find his commercial
niche. Dingman Center director Don Spero
pointed out what he had to do to sell his
idea.
By 2000, his first three test machines,
one each in Beltsville, Columbia, and Baltimore,
proved successful.
In 2003, LHD, Inc., (the name stands
for Leykin's Hot Dogs) wowed attendees at
the annual convention of the National Automatic
Merchandising Association. Leon now has
ten commercial machines ready for distribution,
and will follow with a large production
run.
The Dingman Center is happy to report
that another successful American Dream story,
with a Russian twist, is on its way to fill
the needs of a hungry nation.
Dingman
Center Client Koolspan Inc. Receives Rave
Reviews From Wireless Industry for Security
Technology
COLLEGE PARK, MD--November 30, 2003
-- The Dingman Center for Entrepreneurship
is proud to report that one of its clients,
Koolspan Inc, based in Bethesda, Maryland,
is leading the way in the wireless data
industry and recently obtained funding.
After spending a year developing security
technology for the wireless computing market,
Koolspan is now in the testing phase and
is receiving an incredibly warm reception
from its target industry segment, whose
demand for the technology has exceeded expectations.
The technology--which --has already been
evaluated by major government agencies,
international banking and relief organizations
as well as system integrators and VARs--makes
secure data transmission and authentication
on Wi-Fi local area network (LAN) networks
affordable for small to mid-size organizations
and distributed enterprises. Koolspan SecurEdge
uses a lock-and-key approach to securing
Wi-Fi transmissions and authentication that
allows enterprises to automatically verify
and authenticate approved users who are
accessing any Wi-Fi network, either public
or private.
Koolspan turned to the Dingman Center
to prepare a business case that analyzed
the opportunities available in a target
industry segment. The business case, led
by project manager and Dingman Scholar Gokce
Ataman, included an analysis of the Wi-Fi
market, an analysis of the broadband market,
reports on business impacts of potential
investments, an analysis of target industry
business models and financial modeling analysis.
"We appreciate all of the support of
the Dingman Center in helping Koolspan explore
a potential industry opportunity," said
Tony Fascenda, founder and chief executive
officer. "The invaluable research conducted
by the Dingman Center allowed Koolspan to
further refine our business model prior
to commercial launch to better meet the
needs of our targeted customer base."
"Watching our clients move quickly towards
success and commercialization of their products
is truly rewarding, and we are thrilled
at the impact that Koolspan will make on
the wireless industry," said Don Spero,
director of the Dingman Center. "Our goal
is to empower entrepreneurs with the resources
and information they need, and we are delighted
that Koolspan was able to use this information
to leverage their technology."
Dingman Center
Joins Consortium to Provide Services to
Economically Distressed Regions of Maryland
COLLEGE PARK, MD--October 22, 2003
A consortium of companies and organizations
including the Dingman Center for Entrepreneurship
were brought together under the Maryland
Technology Partnership for Innovation (MTPI)
led by Morgan State University to assist
companies in economically distressed regions
of the state. Consortium members also include
the Maryland Technology Development Corporation
(TEDCO), Baltimore's Emerging Technology
Center (ETC), the Chesapeake Bay Region
Technical Center of Excellence, the Prince
George's County Economic Development Corporation
and the business schools of Morgan State
University and the University of Baltimore.
"We are thrilled to work with such a
distinguished group of organizations who
are dedicated to making positive change
and promoting an entrepreneurial spirit
throughout the region," said Don Spero,
director of the Dingman Center for Entrepreneurship.
"We look forward to providing expertise
in the technology commercialization arena
to help move the project forward."
The MTPI participated in a national competition
and was one of 14 organizations in the country
to receive a grant in this category and
the only one in Maryland. The Maryland Technology
Development Corporation (TEDCO) organized
the consortium and helped develop the proposal.
New
Markets Growth Fund Announced as "Purple
Cow" finalists by Greater Baltimore Technology
Council
COLLEGE PARK, MD--October 21, 2003
-- The New Markets Growth Fund, initiated
by the Dingman Center for Entrepreneurship
at the Robert H. Smith School of Business,
was recently announced as one of the 12
"Purple Cow" finalists by the Greater Baltimore
Washington Technology Council. Inspired
by entrepreneur and author Seth Godin's
New York Times bestseller, Purple Cow, selection
as a "Purple Cow" finalist recognizes technology
companies, service providers, universities
and non-profits that are "doing something
remarkable--something people are talking
about." Godin claims that these groups "stand
out from the herd."
Touted for linking entrepreneurs to students
and "providing a more 'rounded' educational
experience," the New Markets Growth Fund
is a $20 million public, private and academic
venture fund operating in the Smith School
of Business at the University of Maryland.
A unique characteristic of the fund is that
it is not only staffed by professional venture
capitalists, but it also leverages the knowledge
and talent of Smith MBA students, who support
the fund's professional managers. The New
Markets Growth Fund was also recognized
for directing 80% of its investments to
companies located in low-income areas, which
helps improve the local economy.
The two-day seminar explored the establishment
of an International Institute for Innovation
and Entrepreneurship intended to accelerate
effective business creation through a supportive
infrastructure. This infrastructure is planned
to be composed of four key elements: emerging
high-growth businesses, corporate venturing;
the public sector (civic entrepreneurship);
and the non-profit sector (social enterprise).
www.rhsmith.umd.edu/dingmann or call
301-405-9545.
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