Creating
a Solid Business Plan
Originally presented June 17th, 2010
Presenters: Gerard Eldering and Jim Chung from MD Tech Enterprise Inst.
Gerard
Eldering is Founder and President of InnovateTech Ventures, specializing
in venture creation based on inventions licensed from universities and research
institutions. Since the company’s founding in 2007, InnovateTech has
supported numerous mid-Atlantic universities and co-founded three start-up
companies including AlphaDetect and Trilumen. Gerard has been working in the
technology transfer community for more than a decade and is passionate about
the creation of professionally managed and funded start-up companies. Prior
to launching InnovateTech, he founded and served as Director of the Technology
Transfer Office at The MITRE Corporation. He is an MBA and a registered patent
agent.
Jim
Chung is Director of the Office of Entrepreneurship at George Washington
University, where he is responsible for entrepreneurship programs and technology
transfer. Previously, he was Director of the Mtech VentureAccelerator at the
University of Maryland, where he assisted faculty and students in launching
start-up companies based on University of Maryland technology. Before the
University of Maryland, Chung was Director of New Business Development at
the Corporate Executive Board, where he helped establish the company's mergers
and acquisitions capabilities, including the acquisition of IT Toolbox. Prior
to the Corporate Executive Board, Chung was vice president of Cherington Capital
(now Intervale Capital), a private equity firm investing in middle-market
manufacturing and service businesses in the oil and gas industry, where he
helped execute the acquisition of Ulterra Drilling Technologies (formerly
Rockbit International). Chung spent five years prior to joining Cherington
Capital in the venture capital industry, most recently at incTANK Ventures,
an early stage venture capital firm, where he served as managing director.
He has experience leading or co-leading investments into medical device, software,
and information technology companies, including investments in AgaMatrix Inc.
and Nexaweb Technologies Inc. Before entering the private sector, Chung was
an academic researcher studying how business, government and academia work
together to create new innovation in high technology industries. He served
as a research fellow at several institutions during his 10-year academic career,
including Harvard University, MIT and the University of Tokyo.