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Bits&Bytes: 'Angel fund' could help fuel tech start-ups
Saturday, November 12, 2005

Catherine Mott, Blue Tree Allied Angels managing partner, says she is "ironing out the details" with several members of the Allegheny Conference on Community Development on the possibility of raising an angel fund" -- a pool of investment dollars provided by "high net worth" individuals -- to fuel local technology firms in their early stages.

Ms. Mott was at the Allegheny Conference's annual meeting earlier this week at the Carnegie Music Hall in Oakland, working the room and making contacts in the hopes of closing what she called the "capital gap" that exists in the region.

Local tech insiders said such a fund would be a boost to fledgling firms that are always on the lookout for those critical dollars to help get them get going. But it would also make investing easier for "angels" who are interested in funding start-ups but are short on the time to do their homework on the young companies.

Strip District-based Invivodata Inc., which has steadily shifted the bulk of its operations to Pittsburgh from Scotts Valley, Calif., has hired a new Pittsburgh-based chief financial officer, Bill O'Connor. Invivodata, helmed by Chief Executive Officer Doug Engfer, makes a hand-held product used to help patients answer questions required by pharmaceutical companies during clinical trials of new drugs.

The company is planning to fill seven positions in its Pittsburgh office, according to business development manager Christine Tobin. About 17 of the firm's new hires have been in Pittsburgh in the last year, she added. "[Pittsburgh] is the one location that has all of our functions represented," she said, noting that the company plans to maintain its California research facility. Invivodata employs 70 worldwide, and 44 in Pittsburgh.

Pittsburgh native and Be Free Inc. founder and chief Tom Gerace has launched a new company, Boston area-based www.Gather.com -- an information Web site for bloggers, and is planning to open a Pittsburgh-based research office sometime early next year. "We're still looking for space," he said yesterday.

Mr. Gerace, a graduate of Bethel Park High School who launched software firm Be Free in 1997, landed a huge customer in BarnesandNoble.com 10 months later and moved its headquarters to Massachusetts in 1998. Be Free was later sold to ValueClick Inc. a publicly-traded online marketing firm based in Westlake Village, Calif.

Mr. Gerace has hired three locally-based former Be Free employees as software developers for Gather.com. They are working from their homes. Because he plans to hire two more staffers for his local operations, Gather.com needs office space. Mr. Gerace said he hopes to find it by the first of the year.

Research and development is well done in Pittsburgh, he said to capitalize on talent from Carnegie Mellon University.

Former business reporter-turned-freelance writer and publicist Tom Buell is accepting applications from writers, computer programmers, creative geniuses and everyone else "who needs quiet, comfortable workspace away from the distractions of daily life," to share office space in the 517521 building in Bellevue.

The communal office on the second floor of the old G.C. Murphy building is called "Think Tank: workspace for creative minds," and is modeled after shared work spaces, prevalent in New York City, in which individuals rent wireless Internet and 24-hour accessible desk space for a monthly fee. There also will be a lounge, rest rooms and a small kitchen. Of course, a laptop computer or notepad is critical.

In the past, these collective spaces were well-known as homes-away-from-home for tortured writer types who lacked a good spot to write the great American novel. Mr. Buell is hoping to lure not just writers but tortured technologists on the prowl for a quiet place to work.

Think Tank will hold about 30 to 40 workstations. If there's enough interest, he added, an East End-based "Think Tank" could be in the works. The curious should contact Mr. Buell at 412-720-2218 or visit his Web site at www.thinktankpittsburgh.com/

Carnegie Mellon University's School of Computer Science is hosting a meeting Nov. 16-18 of the National Center for Women & Information Technology -- a coalition of 65 organizations focused on increasing the numbers of women in the IT industry. The topic will be developing "promising practices" -- research-proven effective methods -- that will increase women's participation in IT-based academics and careers.

Jeannette Wing, head of the CMU computer science department, will be a keynote speaker. A reception on Thursday will feature remarks by Kathie Olsen, deputy director of the National Science Foundation. For more information, visit www.ncwit.org.

First published on November 12, 2005 at 12:00 am
Got tech buzz? High tech reporter Corilyn Shropshire can be reached at cshropshire@post-gazette.com or 412-263-1413.