To the Editor

Corrections or additions?

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

Capitalist") told

how Collins was going to invest $150 million to "fuel

innovation."

Puzio reported that he needs money to develop his inventions but,

when he called Collins’ office, he was told that his company was

"too

early," that it needed to be bigger to qualify for venture capital

money. He states his concerns:

Top Of Page
To the Editor

I am an engineer, inventor and president of two

corporations.

One has recently been founded for the purpose of furthering my

inventions

in the area of engines, generators and mechanical transmission of

power.

"Catch 22" may be an apt term to describe the fact we in our

country

fail to foster the conversion from that quality we used to call

American

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

Business

Innovation Research) type of solicitation. SBIR requires various

military

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

process

is short-circuited, and the funding intended to support development

of novel technology is subverted.

Eugene Puzio

"mailto:enviro@njcc.com">enviro@njcc.com.

Editor’s note: The SBIR program will be discussed at a

conference

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

800-432-1832

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

businesses

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).

Correction

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: resumagic@aol.com

or at 866-881-9055.


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