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09

Apr

2014

SBA Wants You to Become a Licensed Early Stage Small Business Investment Company PDF Print E-mail

Bobby Franklin

Written by Bobby Franklin   
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The Small Business Administration’s (SBA) Office of Investment and Innovation invites proposals from early stage investors and fund managers actively raising, or looking to raise, a dedicated fund in the next 18 months to submit materials to be licensed as Early Stage Small Business Investment companies.  Licensed Early Stage SBICs may receive SBA-guaranteed debenture leverage up to 100 percent of their Regulatory Capital, up to a maximum of $50 million.  However, Early Stage SBICs may request less than 100 percent of their Regulatory Capital.  

In order to receive SBA leverage, funds must raise $20M of Private Capital and invest at least 50% of their capital in U.S. Early Stage companies.  SBA defines Early Stage companies as companies that have not yet achieved positive cash flow from operations.  The remaining 50% must be invested in eligible U.S. Small Businesses.  SBA will match, on a dollar-for-dollar basis, up to $50M of a qualified fund’s Private Capital.    For more information on the process, criteria, and selection, click here or contact Scott Schaefer of SBA at scott.schaefer@sba.gov.

 

Last Updated on Wednesday, 09 April 2014 13:27
 

03

Apr

2014

Great news from Washington for new Advanced Diagnostic Laboratory tests! PDF Print E-mail

Kelly Sloane

Written by Kelly Slone   
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I’m excited to announce that President Obama signed into law on April 1 the “Protecting Access to Medicare Act of 2014,” modernizing the Medicare payment system for clinical lab tests with a market-based payment system.  This is an issue that NVCA’s Medical Industry Group has been working on collectively with other stakeholders for several years, and the reforms implemented into law track very closely to what NVCA proposed to Congress in 2008   

In summary, the new law creates a new class of Advanced Diagnostic Laboratory Tests defined as sole source multi-analyte tests with a unique algorithm yielding a single result or a test that is cleared or approved by the FDA.  Beginning in 2017, new Advanced Diagnostics introduced to the market will be paid at the actual list charge for three quarters before transitioning to the market-based payment system.  Additionally, Advanced Diagnostics are eligible for temporary and unique permanent coding, which will take effect prior to January 1, 2016.  

The new law also requires coverage policy for clinical diagnostics to be established through local contractor determinations (LCD) and directs the Centers for Medicare and Medicaid Services (CMS) to consider designating one or more Medicare Administrative Contractors (MACs) to establish coverage policies and process claims for clinical diagnostic laboratory tests.

Click here for a detailed summary of the new law from our friends at Foley Hoag LLP.

 

24

Mar

2014

NVCA Opens VentureScape Doors to CEOs and Founders PDF Print E-mail

Bobby Franklin

Written by Bobby Franklin   
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It’s my pleasure to announce that for the first time ever NVCA is opening the doors of VentureScape to CEOs and founders of venture-backed companies. 

For a nominal registration fee of $300, CEOs and founders of companies venture-backed by NVCA members are invited to come to San Francisco May 13-14 to enjoy compelling content, invaluable networking and premium entertainment alongside some of the biggest names in venture.  

Specifically, CEOs and founders are invited to attend NVCA After Hours the evening of Tuesday, May 13 and all programming during the general session on Wednesday, May 14.  All of the Deep Dive sessions on the opening day of VentureScape 2014 will remain exclusively for venture capitalists.

As I said in my statement announcing the programming change, opening the VentueSCape doors to CEOs and founders of venture-backed companies is a natural progression for the NVCA given the tight-knit innovation ecosystem in which VCs and entrepreneurs both lend considerable talents, skills and creativity.  With some modest programming changes, we are able to preserve the camaraderie and networking our members have come to expect from this event while creating new opportunities to convene investors and entrepreneurs in the same room.

I, for one, am extraordinarily excited about this programming change and believe it will help make VentureScape an even bigger success.  I hope the NVCA membership agrees and will join me in welcoming the CEOs and founders with open arms.  I encourage all our members, whether or not they can be with us in San Francisco, to encourage CEOs and founders at their portfolio companies to take advantage of this opportunity by personally inviting them to attend VentureScape 2014.  

CEOs and founders interested in attending can register here.

 

25

Feb

2014

Jeffrey Immelt Joins VentureScape Lineup PDF Print E-mail

Venky Ganesan

Written by Venky Ganesan   
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NVCA is pleased to announce that GE Chairman and CEO Jeffrey Immelt will join us at VentureScape on May 14 in San Francisco! As the leader of one of the most successful corporations on the planet, Mr. Immelt works at the vanguard of the trends and technologies shaping our world. In a candid interview, he will share his insights on the roles and opportunities for America’s innovation ecosystem in driving transformative change in our economy and our society. You can read more about his impressive career and accomplishments at the GE website.

Mr. Immelt joins an already impressive lineup of speakers and panelists, including Dr. Condoleezza Rice, Vivek Wadhwa of Singularity University, Aneel Bhusri of Workday, Mark McLaughlin of Palo Alto Networks, and Amanda Boxtel of the Bridging Bionics Foundation.

It’s all part of VentureScape’s commitment to informing, challenging and inspiring how VCs view innovation, venture investing and the world we live in. Check out our evolving speaker/panelist roster and program agenda today at http://venturescape.nvca.org. And make your plans to join us in San Francisco on May 13 and 14!

 

19

Feb

2014

Calling All Innovators PDF Print E-mail

Venky Ganesan

Written by Venky Ganesan   
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VentureScape’s Office Hours 2.0 is coming up fast – and the venture capitalists are going “all-in.” So far, we’ve already confirmed 36 firms, and the list is growing.

Now, we need America’s best and brightest innovators to follow suit. OH2-0 is now accepting entrepreneur applications for another afternoon of high-energy, high-impact mentoring and networking within the VC ecosystem. This year’s format will feature three opportunities for VC-E dialogue:

One-on-one meetings. We’ll pair participating entrepreneurs with partners from two separate VC firms for pre-scheduled mentoring sessions. This year, we’re asking participating entrepreneurs to identify, in advance, one specific business challenge that they would like guidance from VCs in overcoming.++

Roundtables. In addition to the one-on-one mentoring sessions, VCs and entrepreneurs will break out into smaller group discussions to focus on challenges shared by startups and other players in the innovation ecosystem.

Networking. Like last year, participants will have unlimited access to our networking area, where they can mingle informally with VCs and other attendees.

Interested entrepreneurs can visit the Office Hours 2.0 page at the VentureScape website for more information, or apply online here today.

Or, if you’re a venture firm eager to join the action, please e-mail Channa Brooks today at channa@tenorcom.com.  If you’ve already signed up with Channa  – make sure you also register your firm’s Office Hours participants for VentureScape ASAP. Firms without at least one registered member will not be eligible to participate.

So whether you’re looking to start turning your idea into a viable business. Or lend your insights and experience to helping promising young entrepreneurs get where they want to go. Start a new journey together – at VentureScape’s Office Hours 2.0.

See you there!

++ The intent of the participating venture capitalists will be to offer mentoring regarding operational challenges facing entrepreneurs – not to “source deals.” As such, they cannot offer advice concerning investments or specific steps for raising capital from investors.

 

18

Feb

2014

Communications VP Ben Veghte Embraces “New Guy” Status at NVCA PDF Print E-mail

Ben Veghte

Written by Ben Veghte   
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Thanks to Mother Nature and the unfortunate timing of a jury summons, my first week at NVCA was shorter than I had hoped.  Toss in a three-day holiday weekend and, as sad as it is for me to admit, I’ve now spent just as much time outside the office as in.  In spite of these scheduling challenges, I’ve embraced my “new guy” status and jumped head first into the job.

Since coming aboard I have enjoyed getting to know my colleagues, immersing myself in the organization, and learning more about the great work that NVCA members are doing every day to help entrepreneurs reach their dreams.

And while there have been a lot of positives deserving of headlines and accolades in my first blog entry, what has impressed me the most about NVCA is how hands-on the members are in setting the direction of the organization and helping the staff carry the torch of the venture capital industry.

Having worked in and around various trade associations across many different industries throughout my career, I can attest to the fact that this level of member engagement is the exception, not the norm.  I look forward to tapping into this powerful resource and channeling it into my work as NVCA’s new vice president of communications.

A little about myself.

From the campaign trail to the halls of Congress, I have a diverse professional background in politics, policy and public relations, including extensive experience dealing with complex public policy issues related to the financial services industry.

Most recently, I was a director in the strategic communications practice at The Glover Park Group (GPG), a full-service public affairs consulting firm specializing in research-based communications and advocacy campaigns.  As a client-facing account manager in the financial services division, I provided strategic counsel and tactical communications support to a variety of corporations, coalitions and trade associations seeking to weigh in on some of the most high-profile public policy debates of the last decade.

Before becoming a consultant, I spent several years in House of Representatives, most recently as communications director for Congressman Scott Garrett of New Jersey.  In this role, I managed the congressman’s communications staff, oversaw all of the office’s communications activities in Washington, D.C. and New Jersey, and worked to advance the congressman’s legislative agenda and promote is leadership roles in the House of the Representatives.

Prior to my time on Capitol Hill, I worked at the intersection of Wall Street and politics for the Securities Industry and Financial Markets Association (SIFMA) and its predecessor organization the Securities Industry Association (SIA), first as a coordinator of corporate communications and then later as a director of strategic communications.

Complementing my advocacy and public policy experience, I have served on the frontlines of political campaigns at the congressional and presidential level, including riding shotgun for the 2008 presidential election as a personal aide on the McCain-Palin Campaign.

I earned a Master’s degree in political management from the Graduate School of Political Management at George Washington University and a Bachelor’s degree from Muhlenberg College, where I double-majored in political science and communications.

I live in the Foggy Bottom area of Washington, D.C. with my wife and our chocolate Labrador named Liberty.  We are over-the-moon excited to become parents in July with the arrival of our first child.

Last Updated on Tuesday, 18 February 2014 12:29
 
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