REPUBLIC OF ARMENIA
TECHNOLOGY AND COMPETITIVENESS ENHANCEMENT PROJECT
Experience correlation information
The Armenia proposal identifies background and experience requirements for the
engaged personnel. In order, we would identify our relevant experience as follows:
Requirement 1: Extensive background with public and private seed and angel funds, as
well as early stage venture fund, research commercialization, incubation and business
development services for early-stage ventures.
Stephen Brown
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Evaluator for the 20M$ Deshpande Proof of Concept Fund at MIT.
Evaluator of Proposals for funding to the US National Science Foundation.
Only International Evaluator for New Zealand Government's Pre-Seed Accelerator Fund
Organizer of the "MIT Host of Angels" conference to bring inventors and angel investors
together.
Negotiator of contracts with major Venture Capitalists.
Member of NATO delegation to Uzbekistan to help design policies to help biological
weapons scientists find commercial opportunities.
Twenty years experience in new product commercialization at Dow Chemical and Arco
Julie Goonewardene
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Conceived, designed, implemented and currently manage Purdue University's first
venture fund. Created unique paradigm organized around money, people and ideas
(www.emerginginnovationsfund.org).
Lead business formation based on the Intellectual Property (IP) for the University
including Discovery Park, Purdue’s $400 million multidisciplinary research center.
Responsible for Faculty Entrepreneurial Programs for the University. Major focus on
emerging investment areas of nanotechnology, life sciences, oncology, energy, and the
environment.
Drive Purdue based start-ups. Arrange introductions for entrepreneurs and faculty.
Facilitate license arrangements. Leverage relationships with regional and national
investors to secure investment(s).
Design and present training series for faculty on entrepreneurship including but not
limited to intellectual property valuation, management teams, and operating agreements.
Jeff Warren
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Co-Manager of Eaglestone Investment Partners, institutionally financed venture fund
investing in early stage life science and health care, systems and manufacturing, and
entertainment businesses, most technology driven.
Approximately 20 years as counsel to several early stage businesses and funds investing
in them-structured and executed virtually any type of early and developing stage vehicle.
Actively involved in education, innovation and incubation activities at Purdue University
(where I also serve on the Discovery Park Advisory Board) and recently the University of
Houston (where I also serve on the Engineering Leadership Board).
Board service and many consulting engagements for developing stage business in both
the life sciences and energy industries.
Frequent lecturer on early stage business planning, technology to product analysis,
venture finance and start-up business activity.
Carlos Kemeny
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Analyst-in-Residence at the Emerging Innovations Fund, investing in early stage Purdue
University developed technologies.
Operations Manager for the Purdue University Office of Business Development,
developing an active pipeline for commercialization and startup formation, with a
concentration on creating fundable startup companies.
Previously involved with commercialization activities at Purdue’s Office of Technology
Commercialization.
Requirement 2: Experience working with incubation, mentoring and business support to
early-stage firms in both developed and developing countries.
Stephen Brown
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Advised entrepreneurs, inventors, angel investors on startup issues as MIT’s TLO
Ambassador and Licensing Officer
Judge for 12 years in MIT’s 100k Entrepreneurship Contest providing mentoring feedback
Developed and delivering Sector Acceleration Plan for Life Sciences for Northern
Scotland
Lecturer to MIT Venture Mentoring Service
Julie Goonewardene
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Trustee, Springboard; a venture catalyst.
Publication: Duval-Couetil, Nathalie & Goonewardene, Julie. Innovate / Create: Building
Business from University Research. Presented International Entrepreneurship Forum;
Istanbul, Turkey, 2009.
Invited Speaker HEAL South Carolina March 2010.
Publication: Aldrich, Douglas and Julie Goonewardene. “Decision Management: The
Right Decision for the Right Reason Right Now.” DM Review, October 2002.
Guest Lecturer, Krannert School of Management, College of Engineering, Purdue
University.
Frequent guest/ keynote speaker on entrepreneurship.
Jeff Warren
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Much of the activity described in Requirement 1 translates to this requirement, most
cogent the activity at Purdue assisting with mentoring and incubation activities.
Consulted with representatives of the Egyptian Strategic Technology Development Fund
at the request of the University of Texas.
Provide, as a principal business activity, mentoring, guidance as a director and, when
required, as executive consulting management to early stage businesses, many of which
have business operations or relations in other countries, including Mexico, Denmark, UK
and others.
Executed a series of cross border transactions as counsel and executive leadership to
small developing companies.
Carlos Kemeny
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Provide consulting to early stage ventures, in the areas of competitive strategy and
market identification/selection.
Actively involved in launching university programs to launch research based innovations,
including coaching of teams through business plan creation process.
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Mentor university startups on identifying market-ready research areas for life science,
technology, and software startups.
Requirement 3: Excellent knowledge of seed and early stage venture funding programs
in both developed and developing countries.
Stephen Brown
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Worked with many technology based startups and their government or angel funders in
consulting engagements in 15 different countries with Innovate4Growth Consulting
Consulting services provided to early stage companies attending MIT’s Global Startup
Workshops in South Africa and Iceland
Author of Armenian Innovation Assessment Grid(tm) Review and Recommendations –
2009.
Julie Goonewardene
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See information under Req. 2.
Jeff Warren
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Again, much of the activity described in Requirement 1 translates to this requirement
As a venture fund manager and counsel have both structured, executed, monitored and
reported upon both venture funds and portfolio companies within them.
Have negotiated and continue to work on venture funding transactions involving both
European and Asian venture investors.
Carlos Kemeny
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Developed benchmarking in the development of the Emerging Innovations Fund,
evaluating university-based venture funds across the world.
Requirement 4: Experience establishing and managing public and private seed, early
stage, and venture funds
Stephen Brown
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No experience in this area.
Julie Goonewardene
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See information under Req. 1.
Jeff Warren
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Established and operated Eaglestone for six years.
Counseled formation of investment vehicles, including domestic investment funds,
offshore energy funds, and hedge funds utilizing offshore entities.
Assisted in the formation of the Purdue Emerging Innovation Fund and currently assisting
the formation of NSF funded group dedicated, for a part of the project, to
entrepreneurship in wind energy among five participating universities.
Carlos Kemeny
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Manage the due diligence process for the Emerging innovations Fund and optimized key
process components for evaluating applicants.
Requirement 5: Excellent knowledge of current international trends in startup support
and funding
Stephen Brown
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Author of Armenian Innovation Assessment Grid(tm) Review and Recommendations –
2009.
Consulting engagements working with many technology based startups and their
government or angel funders in consulting engagements in 15 different countries with
Innovate4Growth Consulting
Jeff Warren
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Basic awareness of trends impacting global venture and private equity markets.
Conversant in some in-bound and out-bound investment trends and legal requirements,
but not as a day to day activity.
I am English speaking, and labor with unused Italian.
Requirement 6: Other relevant experience
Stephen Brown
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Managed inventions at MIT for ten years.
Lecturer at MIT Sloan Business School since ’00.
United States Presidential Interchange Executive at the US Small Business
Administration.
Assistant Dean at the University of Pennsylvania working with university startups
Julie Goonewardene
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Founded Cantilever Technologies LLC.
o Raised $5 million in venture capital to support start-up. Developed funding
strategies, budgets, and capital structure.
o Full P&L accountability for software and professional services firm. Responsible
for software development, sales, marketing, and asset management. Achieved
breakeven within 36 months. Sold and implemented software solutions to major
corporations, such as Cummins, Inc., Brunswick Corporation and Lockheed
Martin Aeronautics Company.
o Responsible for the development of the flagship product: The Readiness
Engine®.
o Developed and managed approach to protect intellectual property.
o Recruited and built Board of Directors which included former Fortune 500 CEOs.
o Developed strategic relationships with Chicago based securities attorneys,
bankers, and marketing firms.
o Developed strategy and executed successful sale of the company.
Technology Solutions Company. Founding member of start-up information technology
professional services firm that went public three years after inception.
o Company founded by former Arthur Young consultants.
o Solved critical operational issues during start-up phase.
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Participated in the strategy and execution of IPO.
Recruited and hired over 200 professionals from entry level to vice-president.
Head count in 1993 was 500.
Responsible for multi-million dollar systems implementation projects.
Led large TSC and client teams.
Involved in all aspects of information systems development.
Jeff Warren
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Frequent speaker on entrepreneurship and early stage finance topics.
Years of experience in various regulatory environments, work well within a regulatory
framework and where policy driven considerations are a key.
Function as an arbitrator for the American Arbitration Association, recognized for
dispassionate capacity and judgment to resolve business disputes, and particularly
selected to serve to resolve and determine fund dispute issues.
Recognized for negotiating and advocacy skills developed through over 29 years of legal,
business, venture investing and management service.