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This article was prepared for the October 29, 2003
issue of U.S. 1 Newspaper. All rights reserved.
Between the Lines
The entrepreneurial environment tantalizes some people
and confounds others. An inventor and would-be entrepreneur, Eugene
Puzio, called us about the October 15 cover profile on a venture
capitalist. The cover story ("Mort Collins: Adventure
how Collins was going to invest $150 million to "fuel
Puzio reported that he needs money to develop his inventions but,
when he called Collins’ office, he was told that his company was
early," that it needed to be bigger to qualify for venture capital
money. He states his concerns:
I am an engineer, inventor and president of two
One has recently been founded for the purpose of furthering my
in the area of engines, generators and mechanical transmission of
"Catch 22" may be an apt term to describe the fact we in our
fail to foster the conversion from that quality we used to call
Ingenuity to the implementation/execution of an invention or superior
new product. Practicality supersedes Innovation.
Additionally, Congress has made available many millions intended to
provide development backing for early-stage products that have at
least some military application. That includes the SBIR (Small
Innovation Research) type of solicitation. SBIR requires various
branches and departments to award available funds toward development
of new solutions to real problems they identify.
Instead they usually seem to give the award to companies they seem
to collude with. Then they write a solicitation around the company’s
old solution which falls far short of the benefit novel concepts would
provide should they satisfy the promises they offer. Thereby the
is short-circuited, and the funding intended to support development
of novel technology is subverted.
on Wednesday and Thursday, November 19 and 20, at Rutgers Cook Campus
Center. It costs $150 for both days, or $90 for one day. Call
or visit www.NJSBDC.com/SciTech.
Would-be entrepreneurs who need money for their business might want
to attend the Small Business Development Center class on Saturday
morning, November 8, at the College of New Jersey on "Financing
Your Small Business" (609-989-5232). Those with high-tech
will want to hear "Technology Funding from the National Science
Foundation" at the New Jersey Entrepreneurial Network luncheon
at the Doral Forrestal on Wednesday, November 5 (609-279-0100).
The Job Club is not meeting on its former schedule and did not meet
on October 6, as listed in the Business Meeting calendar. One of the
former sponsors of this group, Susan Guarneri of Resume Magic and
Guarneri Associates, can be reached at E-mail: firstname.lastname@example.org
or at 866-881-9055.
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