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DIGI closed up 4.1% today. Not all my good stocks did that well. I wish it had been more, too, though!
Here is an article from today's news:
Headline: Richardson plans incubator for growing high-tech firms
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RICHARDSON - The Richardson Chamber of Commerce is launching the
Metroplex's first incubator for technology startups.
The incubator, run by a for-profit chamber subsidiary called the
TelCor Technology Development Center Corp., or Startech, will make
available services from at least 11 "stakeholder" companies in the
enterprise, including legal services and accounting.
The stakeholders, all companies either based in the Metroplex or
with significant presences here, have agreed to contribute $125,000
apiece over five years to help fund Startech. After five years,
officials say, Startech should be able to stand on its feet
financially.
Frank Kozel Jr., chairman of the chamber's board, said that while
the Metroplex has attracted successful tech companies, it hasn't
done as well with tech startups as other areas, such as California's
Silicon Valley.
The stakeholders in Startech realize that, he said, and have
banded together to help both entrepreneurs and people currently
working at other Metroplex companies to get their own ventures
started.
Startech stakeholders will not get to decide which companies get
in, chamber officials said.
Companies in the incubator will have access to product- and
technology-testing facilities of various telecommunications
companies in Telecom Corridor. Startech will also help swing
assistance in everything from marketing and technology plans to
engineering and implementation.
Five venture capital firms, including Sevin-Rosen, CenterPoint
Ventures and InterWest Partners, plan to put together a $3 million
seed fund. Firms in the incubator will be able to apply for
financing of about $100,000 to $250,000 from the fund.
The venture capitalists, who are not stakeholders in Startech,
will decide independently where they want to invest.
Getting into Startech won't be easy. Matthew S. Blanton, who
heads up Startech, estimates officials will look at 50 business plans
for each company that is selected to participate.
Startech will retain 31/2% to 4% equity in each participating
company to help fund itself. Startech is also slated to receive $3
million of a $78 million bond offering that the city of Richardson
was to announce this week. There will be a bond election Dec. 6.
Officials plan to initially lease space for the Startech facility
in an undetermined location. The city plans to later build a
40,000-square-foot, $3-million facility on Renner Road. That is
supposed to happen in late 1998 or 1999.
Once things are up and running, as many as 25 companies will be
housed at any given time at Startech.
Startech Stakeholders
These 11 companies are starting the Metroplex's first high-tech
incubator.
ADC Telecommunications
Akin, Gump, Strauss, Hauer
& Feld L.L.P.
BusinessWorks Inc.
DSC Communications Corp.
Ericsson Inc.
Ernst & Young L.L.P.
Fujitsu Network Communications Inc.
Haynes & Boone L.L.P.
Nortel
Novakov, Davidson & Flynn
Todd Jones Partnership
Source: Telecom Corridor Technology Business Council
Linda
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