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
the "most likely to go public" designation. Meanwhile
Village-based Quantiva won "best information technology firm,"
and Wellspring International, of Bear Tavern Road, won "best
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,
Quantiva was founded in 2000 by Ron Hiller, now the firm’s chief
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
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,
Founded in 1996, Wellspring offers wireless, point-of-use, water
system for multifamily housing — known as the Aqura system.
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
performance contracting division that was recently sold to Water
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
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
The "most likely to go public" award proved golden for two
other Princeton-based companies. ITXC won it in 1998 and now
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
bill presenting on the Internet. Good omens for Transave.
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