Corrections or additions?

This article was prepared for the March 13, 2002 edition of

U.S. 1 Newspaper. All rights reserved.

Venture Fair Winners

Transave Inc. of Princeton Corporate Plaza’s Deerpark

Drive walked away with one of the big prizes at the New Jersey Venture

Fair at the Liberty State Science Center on Monday, March 11 by

earning

the "most likely to go public" designation. Meanwhile

Forrestal

Village-based Quantiva won "best information technology firm,"

and Wellspring International, of Bear Tavern Road, won "best

management

team."

Last year, at this same venture fair, Transave proved that substance

wins over polish. It entered the fair merely as a networking exercise

and, based on a bare bones presentation, unexpectedly came home with

"Best Early Stage Company" prize (U.S. 1, April 11, 2001).

Frank Pilkiewicz founded the firm in 1997 to focus on drug delivery

methods for lung disease (732-438-9434; fax, 732-438-9435,

www.transaveinc.com).

Quantiva was founded in 2000 by Ron Hiller, now the firm’s chief

technology

officer. It offers performance management systems — wide area

network management — for Internet businesses. By automatically

troubleshooting E-business infrastructure, both inside and outside

the firewall, Quantiva’s solution can diagnose problems inexpensively.

Among its investors in a $7 million round of funding are Castile

Ventures

of Waltham, Massachusetts; 3i of Waltham and Palo Alto; and Draper

Fisher Jurvetson Gotham Ventures of New York City. In December 2001

Quantiva brought in Digital Equipment Corporation alumnus Al Fink

as president and CEO (609-514-9540; fax, 609-514-8505,

www.quantiva.com).

Founded in 1996, Wellspring offers wireless, point-of-use, water

submetering

system for multifamily housing — known as the Aqura system.

(609-530-1990;

fax, 609-530-1991, www.wellspringwireless.com). The company

broke off from American Standard, and has several American Standard

and Trane alumni among its ranks, including Wade Smith, the CEO, and

Brian Brittsan, the California-based president. Wellspring had a

separate

performance contracting division that was recently sold to Water

Management.

Last year Transave was the only Princeton area firm to come home with

a prize. Other Princeton-area participants this year were Epam Systems

of Emmons Drive (U.S. 1, November 8, 2000), ExpertPlan of Windsor

Corporate Park (March 7, 2001), Lavipharm Laboratories Inc. of

Princeton-Hightstown

Road (October 18, 2000), Pharmaseq of Deer Park Drive (January 20,

1999), Princeton Power Systems of the Forrestal Campus (November 28,

2001), UltraFast Optical Systems of Holmdel (August 29, 2001), and

Connextive, a middleware developer located at Crossroads Corporate

Center.

The "most likely to go public" award proved golden for two

other Princeton-based companies. ITXC won it in 1998 and now

flourishes

with 185 people on College Road, and Paytrust Inc. took home that

title in 1999 and, with 50 people on Brunswick Pike plus five times

that many in Sioux Falls, is making its fortune in the area of

electronic

bill presenting on the Internet. Good omens for Transave.


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