New pro bono organization draws on members' experiences to help area entrepreneurs

Baltimore, MD - October 29, 2001 - The newly formed Baltimore Venture Mentors today announced that it will begin accepting applications for its pro bono mentoring program. Designed to help entrepreneurs through both challenging and healthy economic markets, the organization will help coach companies in implementing their ideas into solid and viable business models.

John Kirby, an experienced business leader and entrepreneur himself, began mobilizing the group in late August 2001. "Those of us who have started technology companies in Baltimore realize that there is tremendous value to be gained from the individuals who have 'been there and done that,'" said Kirby. "We want to help in a meaningful way, particularly in this difficult market, and Baltimore Venture Mentors provides the forum to achieve this goal."

"The Greater Baltimore region is an incredible environment for entrepreneurial success," said Penny Lewandowski, Executive Director of Greater Baltimore Technology Council (GBTC), a partner with Baltimore Venture Mentors. "The combination of location, venture capital, angel investors, business incubators, many institutions of higher learning, and a political community that understands the importance of business, has made this region very attractive to young, growing companies. We welcome the addition of the Baltimore Venture Mentors organization to help shape and guide companies through the often treacherous formation stage."

Baltimore Venture Mentors' (BVM) mission is to coach early stage technology companies with an emphasis on polishing funding presentations and assisting with strategic positioning. All work is done on a pro bono basis at meetings held on the third Wednesday of every month. At each meeting, two companies will present for half an hour followed by a 30-minute critique and discussion with the BVM team. Within one week of the meeting, the companies will receive a written summation of the team's feedback and counsel. For ongoing guidance, each company will have the opportunity to maintain contact with the team members in a confidential fashion.

Before being invited to participate in the monthly meeting, companies must submit a one page executive summary of their business plan and receive a preliminary review by a mentor partner.

Even at this early stage, Baltimore Venture Mentors' services are in high demand. "We are astounded at the response thus far," commented Kirby. "We anticipated having to search high and low for companies at the onset. That has not been the case - they are lining up at the door."

The BVM team includes experts in public policy, law, finance, defense contracting, strategy and management consulting, and a variety of technology disciplines (including biotechnology, telecommunications, and wireless data). The majority of members have had first hand start-up experience.

As a pro bono effort, BVM will rely heavily on sponsorships and affiliations with various organizations. As the founding sponsor, Struever Bros. Eccles & Rouse is providing seed capital and meeting space at their Tide Point complex in Locust Point.

"Baltimore Venture Mentors has assembled an all-star team with many collective years of practical experience they can bring to bear in coaching companies," said Bill Struever, President and CEO of Struever Bros. Eccles & Rouse. "There is little doubt that they will be a powerful resource for startup technology companies in Maryland. We are thrilled to be working with them."

Other companies stepping in to provide support include web(((RESONANCE))) who is designing the BVM web site as well as donating hosting services and Merritt Group Public Relations providing PR support.

BVM is part of a broader network of mentoring programs that includes Northern Virginia Venture Mentors and Virginia Beach-based Tidewater Venture Mentors. Venture Mentors network began as the brainchild of John Casey when he launched the Northern Virginia chapter in 1997. The shared goals and visions of these organizations will enable BVM to draw upon a larger pool of resources and experience.

About Baltimore Venture Mentors
With the idea of "Connecting Experience to Ideas," Baltimore Venture Mentors was assembled in August of 2001 to coach early stage technology companies with an emphasis on polishing funding presentations and assisting with strategic positioning. Managing Partner and Founder, John Kirby, leads a diverse group of mentors comprising varied disciplines, many of whom have successfully started their own companies. The group provides feedback and counsel to Baltimore-area entrepreneurs as they begin marketing their business and seek early stage funding. For more information or to request the help of Baltimore Venture Mentors please visit www.baltimoreventurementors.com.

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