ATLANTIC FIRSTROUND PARTNERS FORMED TO HELP FINANCE EARLY-STAGE TECHNOLOGY COMPANIES
Group will disperse a portion of nearly $82 million in funds

TITUSVILLE, Fla. -- Officials with Florida's Technological Research and Development Authority (TRDA) announced today the creation of a new investment group that will be responsible for facilitating investments into early-stage technology businesses in the Central Florida region.
The group, Atlantic FirstRound Partners, is now under contract as a sub-manager to Advantage Capital Florida Partners, one of Florida's three certified capital companies (CAPCOs). The CAPCO program is responsible for increasing venture capital investments in Florida, diversifying the state's economy, and creating new, high-wage employment. Advantage Capital Florida Partners has been authorized to invest a total of $81.9 million under the CAPCO program.

Atlantic FirstRound Partners will identify technology companies in which a relatively small investment of equity capital ($250,000) has the potential to make a quantum leap in the development of a business and enhance its prospects for further financing from institutional venture capital investors. 
"We expect to work closely with other venture capital funds and Angel investors to achieve appropriate levels of funding for our initial investments," said Ned Buffington, president of Atlantic FirstRound Partners. "We also expect to provide our client companies with business development and strategic planning services, help them recruit experienced managers and independent board members, and facilitate their contact with institutional venture capital investors and potential corporate partners," he said. Buffington was tapped by the TRDA to head up Atlantic FirstRound Partners in February.

The Atlantic FirstRound Partners include the following board members: 
· Ned Buffington, president - Buffington is the marketing coordinator with        Hoyman Dobson & Company, CPAs and the executive director of the Capital Partners of Brevard in Melbourne, Fla.

· John Kancilia, vice president - Kancilia is an attorney with the law firm of O'Brien, Riemenschneider & Kancilia in Melbourne, Fla.

· Debbie Bradley, secretary/treasurer - Bradley is a director with Hoyman Dobson & Company, CPAs in Brevard County.

· Fred Orlando - Orlando is a technology and government contract consultant, based in Melbourne, Fla.

· Al Vazquez - Vazquez is an independent consultant in technology investment and e-commerce based in Satellite Beach, Fla.

Companies interested in qualifying for these investment funds can submit a non-confidential executive summary or business plan outlining their technology. Submissions should include information regarding the ownership of the technology, the current stage of development, its advantages over present practice, and the technology's market potential. Resumes of the management team and the company's capital requirements and projected uses of funds are also required. Companies may send their information to Tom Rainey, Florida/NASA Business Incubation Centers, 1311 N. Highway US 1, Titusville, Florida 32796-2144, phone: 321-383-5200, fax: 321-383-5273.

The Technological Research and Development Authority (TRDA), established by the Florida Legislature in 1987, delivers cost-effective transfer of leading-edge technology to schools and small businesses throughout the state. The TRDA administers and initiates programs that address Florida's educational needs, enhance space research and spur the state's economic growth.