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January 20, 2012 - click headlines for quick navigation 


QuickBooks I (part 1 of 2 part class) January 24, 2012

Wind Power for the Valley? Benefits and Issues: January 24, 2012

StartupVirginia - Entrepreneurs from across VA working together to establish and new support network

Center for Innovative Technology SBIR/STTR Intro and Program Updates, Free Webinar: January 24, 2012

SVTC Bits & Grits: February 21, 2012

Governor McDonnell Announces New Virginia Cyber Security Marketing Effort

Member News: CIT GAP Funds Invests in SphynKx Therapeutics LLC


QuickBooks I

(part 1 of a 2 part class)

January 24, 2012, 1:00-5:00 pm

PBGH, 558 S. Main St., Harrisonburg


Offered by SV Small Business Development Center & PBGH

This hands-on course will teach you to set up and use a QuickBooks financial system for your business. Workshop concludes on January 31st.

You'll work with customer and vendor lists, forms, registers, and bank and credit card accounts; enter sales and payments; enter and pay bills; report and analyze financial data.

This course is taught assuming participants have a basic understanding of bookkeeping terms and practices.



Wind Power for the Valley? Benefits and Issues

January 24, 2012, 6:00 pm

Massanutten Regional Library

If we're running out of fossil fuels, what are our alternatives? In the first of a series of programs addressing this issue, the Climate Action Alliance of the Valley will present "Wind Power for the Valley? Benefits and Issues," on January 24th at 6pm at the Massanutten Regional Library.

The program will begin with the short film "Islands in the Wind," about a small Maine island community which chooses to install wind energy to power their houses and businesses. The film explores the "pitfalls and promises of the post-fossil fuel economy."

After the film, a panel of three speakers will briefly explore different facets of wind energy possibilities for the Shenandoah Valley. The first speaker, Dr. Jon Miles, will speak to "Wind Turbines: Site Selection Process and Criteria." Miles is Director of the Virginia Center for Wind Energy at JMU.


The second speaker, Lynn Cameron, will discuss "Industrial Wind on Shenandoah Mountain?" Cameron is co-director of Friends of Shenandoah Mountain, which is currently seeking National Scenic Area designation for much of the mountain.


The final speaker of the evening event will be Jon Devier-Scott, speaking on "Winds of Change: Educating Tomorrow's Energy Users." Scott teaches 6th grade science at Thomas Harrison Middle School, and is leading the effort to erect a wind turbine at the school.


A short question and answer period will follow the speakers. For more information email





Entrepreneurs from across Virginia are working together to establish a new support network called StartupVirginia.  We hope you will choose to participate and help spread the word. This effort is a public/private partnership bringing together serial entrepreneurs and key supporters of entrepreneurship in the Commonwealth. Preliminary discussions have focused on the following identified areas of interest:


  • Providing better access to capital.
  • Linking entrepreneurial activity around the Commonwealth and promote and accelerate economic development.
  • Linking existing businesses with potential business partners, talent and acceleration opportunities.
  • Adopting a "go to market" strategy to launch StartupVirginia on January 31st.

Additional information will be available at the end of the month. Those details will include information that we gather from you and other entrepreneurs representing a wide spectrum of industries, regions and interests in Virginia. Please take two minutes (literally) to participate in the five-question StartupVirginia survey that will help establish the priorities for this initiative.


Thank you for your help and for the invaluable contributions that you add to Virginia's entrepreneurial ecosystem and culture.  Please feel free to contact me if you have any questions.




Robert J. Stolle

VP, Regional Growth Programs

Center For Innovative Technology

(804) 240-0273 /


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Center for Innovative Technology SBIR/STTR Intro and Program Updates, Free Webinar:  January 24, 2012, 1:00-2:30pm
The Center for Innovative Technology (CIT) is hosting several SBIR / STTR workshops in the next three months that may be of interest to our members.  SBIR/STTR grants provide early stage funding for small businesses performing high risk, high pay off research. 

The free SBIR overview webinar on January 24th will help you decide if SBIR/STTR is a fit for you. If it is, you can then decide to register for one of the upcoming SBIR Proposal Prep classes in February. There is also Virginia's 2012 Advanced SBIR Conference in March.  See info below.

CIT also provides mentoring and one on one consultant training support to companies who plan to submit. 

SBIR/STTR Program Overview - January 24th
Presented by Robert Brooke, Director, Federal Funding Programs, Center for Innovative Technology

This FREE webinar session provides an overview of the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) federal grant programs. SBIR and STTR provide $150K - $1M in early stage R&D to test early stage, high risk but high pay off ideas. 11 Federal agencies use these programs to advance their missions - from the Dept. of Defense, the National Institutes of Health, National Science Foundation, Dept. of Energy, NASA, and others. This session will provide insights into the program, how it works, how it may fit your funding needs and timelines, and provides basic tips for more effective participation.
Recent SBIR/STTR Program Changes
Presented by John Davis, General Manager, the SBIR Resource Center

Also presented at this session will be an overview of the recent changes that will be adopted in the programs as a result of the recent reauthorization of the SBIR and STTR programs.  The new changes will impact the amount of funding in the programs, the size of awards, federal lab participation, how the programs are managed, participation by venture backed firms, and other important changes. We'll provide discussion about how these changes may be of impact on small businesses and how you can consider these changes moving forward.

Advance Registration Required. A log-in URL will be sent to registrants a few days prior to the webinar.  

For more information & to register visit:


Upcoming SBIR/STTR Training Sessions:

  • NIH SBIR/STTR Proposal Prep & Commercialization Plan Development, Feb. 21-22, Richmond, VA
  • NSF SBIR/STTR Proposal Prep, Feb. 23, Herndon, VA
  • Virginia's 2012 Advanced SBIR/STTR Conference, March 14-15, Herndon, VA for more information.

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Bits & Grits

Tuesday, February 21, 2012, 8:00am

Mrs. Rowe's, Staunton


Our regularly scheduled breakfast event is held on the third Tuesday of every month. See you there! Reservations or membership not required.


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Governor McDonnell Announces New Virginia Cyber Security Marketing Effort

- Outlines Measures to Ensure Continued Strength and Growth of Commonwealth's Cyber Security Sector -

[January 18, 2012] RICHMOND - Governor Bob McDonnell today released a report on the cyber industry in the Commonwealth of Virginia that will be used in marketing Virginia as the best place in the country to start or relocate a business in the cyber security field.  The Commonwealth is already home to more than 300 cyber security focused companies, with many of the largest leaders in IT and cyber security being headquartered here. These companies offer a breadth of technologies and services including network infrastructure, authentication, biometrics, modeling and simulation, encryption products and network security customization, just to name a few. The Commonwealth is also home to numerous cyber related federal assets including the CIA, the Pentagon, DARPA and the U.S. Army Cyber Command.

Speaking about the report, Governor McDonnell said "Virginia's business friendly climate, well-trained workforce, unique access to federal cyber security assets and an already thriving cyber security industry make it a natural fit for new or expanding cyber security companies. This new marketing effort will take the Virginia story and help ensure that when a company is looking at cyber security, they start in the commonwealth.  Virginia already has the highest concentration of technology workers anywhere in the country and as Virginia's schools and universities refocus on STEM subjects, we will ensure that our young people will be prepared for these high-skill jobs that are important for our economy and vital for our national security."

Secretary of Technology, Jim Duffey, commented, "the Commonwealth's blending of a business friendly atmosphere, a top notch education system, numerous defense R & D centers, and extensive infrastructure has laid the foundation for a vibrant cyber security industry, which spans the Commonwealth, from Northern Virginia to Norfolk to Mecklenburg."

Governor McDonnell's proposed biennial budget included $2.3 million in funding to improve the Commonwealth's marketing to the cyber security industry and for modeling and simulation to foster growth and diversification by leveraging resources from a variety of existing sources to support research and outreach activities.

Looking forward, the McDonnell Administration's cyber initiatives include:

  • Emphasizing STEM and cyber specific education at all academic levels
  • Supporting cyber research and development at Virginia's Universities
  • Company formation and investment via the Cit Gap Fund 
    • Cit GAP Funds are seed-stage investment funds designed to attract private capital to enable the formation and establishment of new high-growth technology companies in Virginia
  • The creation of a National Center of Cyber Excellence
    •  Will aid in the economic development of this industry, and also house the Cyber Security Awareness Engine, which will provide a timely, reliable and trusted means of matching cyber security related solutions, tools and skills with requirements/issues in both the public and private marketplaces. 

Federal spending for cyber security is estimated to be $13.3 billion by 2015, and the 2012 Department of Defense budget for cyber alone is $3.2 billion. Cyber security spending as a whole topped $60 billion globally in 2011 and is expected to grow at a rate of almost 10% every year, over the next 3-5 years.

A copy of the report, Virginia's Innovation Ecosystem: The Trusted Leader in Growing Cyber Security Solutions, can be found at:

"As a technology user and training coordinator, I find the SVTC luncheons a great source of information and networking.  I have developed contracts with businesses and trainers as a result of conversations at the meetings.  SVTC helps me to serve the needs of my customers and clients."

- Mary Sullivan, Training 

  Coordinator, Blue Ridge

  Community College, SV 

  Small Business Development



 * * * * * 


"SVTC membership has been an invaluable asset to Cadence over the years.  As a growing company in this area, our ability to leverage the many available networking activities continues to be an integral part of our on-going success.  Cadence has also benefited from recognition by the SVTC as the High Tech Company at the annual Tech Nite awards event." 


 - Chip Harvill, VP Marketing
   Cadence, Inc.


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Member News: CIT GAP Funds Invests in SphynKx Therapeutics LLC


Biotechnology company developing novel therapies for the treatment of cancer and fibrosis.


January 18, 2012 (HERNDON, Va.) - The Center for Innovative Technology (CIT) announced today a $50,000 investment in Charlottesville, Va.-based SphynKx Therapeutics LLC. SphynKx focuses on the discovery and development of small molecule therapeutics that target the sphingosine 1-phosphate (S1P) pathway in novel ways, potentially leading to breakthrough treatments for diseases such as fibrosis and cancer.


SphynKx's S1P is a bioactive lipid that is an important regulator of many physiologic processes. Since abnormal S1P indicates the presence of disease, targeting the S1P pathway can serve as a platform for the development of advanced therapies. Although the S1P pathway is already a validated drug (Gilenya™ for MS) target, emerging data points to broad, untapped potential for S1P therapies in other areas of considerable medical need. The S1P3 receptor and sphingosine kinase 1 (SphK1) appear to be particularly important and SphynKx has proprietary drug candidates that specifically address these targets.


CIT President and CEO Pete Jobse said, "SphynKx's innovative expertise in chemical biology advances our community towards the essential treatment needed for lung injuries, fibrosis, and cancer. CIT's investment will allow them to help spur the life sciences industry of the future."


Within the SphynKx library, the company has a collection of sphingosine kinase inhibitors that offer a new and unique approach for targeting the S1P pathway. In cancer, SphK1 is functionally validated as a drug target, and importantly, SphynKx's SphK1 inhibitors are the most potent compounds reported to date. Recently, the biotechnology company has discovered a potent SphK2 inhibitor that may be useful in treating Alzheimer's disease.


SphynKx Therapeutics' President, CEO, and Co-Founder Andrew Bolt said, "SphynKx has proprietary small molecule compounds that modulate the pathways in novel ways. With this investment, our primary goal is to conduct proof-of-concept testing for the treatment of cancer, fibrosis, acute lung injury, and stem cell mobilization."


Tom Weithman, CIT Vice President and GAP Funds Managing Director, said, "Andrew Bolt and his fellow co-founders discovered this life-saving technology and are recognized leaders in the field of S1P chemical biology. With support from the GAP Funds, SphynKx will conduct further research in producing treatments of such debilitating diseases, thus generating significant economic return within the Commonwealth of Virginia."


Since its 2005 launch, CIT GAP Funds has placed over 50 investments across the Commonwealth, deploying more than $5M of public funds and attracting $16 dollars of private funding for every $1 of public money invested. (For a list of portfolio companies, please visit the GAP Funds website.)


To learn more about SphynKx Therapeutics LLC, visit their website.


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