Addition of experienced entrepreneur comes with launch of Amplifier’s 2010 Business Accelerator Program to support and mentor up to five new technology businesses in the Washington, DC Technology Corridor
Amplifier Ventures, an early-stage venture capital fund, and Amplifier Network, a provider of educational content for entrepreneurs, today announced the addition of Loren Burnett, a well-respected serial entrepreneur, as a Venture Advisor and the launch of its 2010 Amplifier Business Accelerator Program to stimulate new technology company formation in the DC Technology Corridor. The four-month program will combine seed capital from Amplifier Ventures with experienced, hands-on mentoring and education by recognized experts. This is the second iteration of the Business Accelerator Program – the 2009 program successfully launched four technology start-ups: Cardstar, demandmart, Guitar Affair and Veriam.
Mr. Burnett will join Amplifier’s other current Venture Advisors, Michael Dering and Rich Moore. Amplifier’s Venture Advisors work with Jonathan Aberman, Amplifier’s Managing Director, in all aspects of Amplifier’s Activities.
Mr. Burnett has had a career of experience launching and exiting businesses, as a founder and member of the senior executive team. He has served as CEO, COO or CFO of many successful technology companies, including Riptech, FutureNext, The Hunter Group and Maxm Systems. Loren is currently the founder and CEO of RLB Technologies, a company that licenses and commercializes technologies from universities and research institutions. Early this year, RLB Technologies launched Madison Assessment, a company utilizing technology licensed from James Madison University.
“I am thrilled to add Loren to our team,” said Jonathan Aberman, Managing Director of Amplifier Ventures. “I have worked with Loren over many years and have seen firsthand how he approaches company formation and business growth. He is very much an ‘entrepreneur’s entrepreneur’ and his values match up well with our mission. As we start a new Amplifier Business Accelerator group we wanted to have an additional team member who has ‘been there’, because what we have learned from our first class of companies is that there is no substitute for experienced and focused advice.”
“Since its inception, I have admired Amplifier’s approach to company building,” said Burnett. “The Amplifier Ventures team understands that by providing quality advice and assistance to entrepreneurs, excellent new product and services ideas can be nurtured into highly successful companies. I am happy to become part of the Amplifier Team and am looking forward to working with the next group of Amplifier Business Accelerator companies.”
The Amplifier Business Accelerator Program works with experienced entrepreneurs in a short and focused period to launch new businesses. Graduates are poised for further growth and heightened appeal for capital investment, as needed. The Program, which provides participants with many of the advantages of venture capital involvement in a business, adds additional benefits not usually associated with a venture investment – intensive and active participation in business planning and execution, access to structured educational programs and free exchange of experiences and information among the participating entrepreneurs, mentors and other participants in the program.
“The Amplifier Business Accelerator Program really helped us launch our business last year,” noted Andy Miller, CEO of Cardstar. “The help that we have gotten has been phenomenal – they have been there every step of the way. And, Amplifier has given us great credibility with downstream financing sources – they have helped us do two venture rounds over the last year, including a recent investment from Verizon. They are great for an experienced entrepreneur to work with – they just get it.”
“With the continuing chronic shortage of early stage venture capital, many promising business are not only losing access to capital, they are also losing out on opportunities to benefit from the business acceleration that a good venture investor brings to a company,” noted Jonathan Aberman. “Our original goal in starting the Amplifier Business Accelerator was to fill that void. Hopefully with this next group we can build on last year’s success and find some great new companies to help.”
For additional information on the news that is the subject of this release, contact Jonathan Aberman or visit http://www.amplifierventures.com.
About Amplifier Ventures
Amplifier Ventures is an early stage venture capital fund that has been operating since 2005. It has eight current investments, including Bright Hub, Hook Mobile, IBelong Networks and Zenoss, as well as four Amplifier Business Accelerator companies graduated from its 2009 Program, Cardstar, demandmart, Guitar Affair and Veriam. It generally is the first institutional investor in the companies that it finances.
About Amplifier Networks
Amplifier Networks provides entrepreneur focused content and education in collaborative online communities and classes. It operates the Amplified Infonetwork.
Posted On: McLean, VA September 13, 2010