SANTA CLARA, Calif., October 11, 2004 - Silicon Valley Bank, the primary subsidiary of Silicon Valley Bancshares (Nasdaq: SIVB), named Network Chemistry, Inc. of Palo Alto, Calif. the winner of its seventh annual Showcase event for entrepreneurs. A panel of six venture capitalists recognized Network Chemistry for presenting the most compelling business plan and market opportunity of the ten presenting companies. Supporting the company's mission to help entrepreneurs succeed, Silicon Valley Bank's Showcase brought together some of its most promising early-stage technology clients with over 120 leading investors and industry insiders from Northern California.
At this year's event, held in San Mateo, Calif., ten entrepreneurs were allotted three minutes each to present their business ideas and market opportunities to an audience of early-stage venture capital and angel investors. The panel of distinguished venture capitalists rated each entrepreneur on presentation content and style. The annual event gives select entrepreneurs valuable access to possible funding sources, as well as real-time constructive feedback regarding their business plans.
"We are continually impressed by the imagination, spirit and enthusiasm of the entrepreneurs who present each year at Showcase. This year was no exception," said Marc Cadieux, Silicon Valley Bank's Peninsula region manager. "SVB hosts events like Showcase to help some of our most innovative early-stage companies meet investors and market insiders to secure the all-important next meeting. We congratulate all of the presenters and thank the judges and participants for their contribution."
Sameer Gandhi of Sequoia Capital, Bob Lisbonne of Matrix Partners, Peter Loukianoff of Alloy Ventures, Ravi Mhatre of Lightspeed Venture Partners, Rich Redelfs of Foundation Capital and Roland van der Meer of ComVentures judged presentations.
This year's Showcase winner, Network Chemistry, Inc., develops wireless security and performance management systems for the enterprise, government and service provider markets. The company's RFprotect system identifies 802.11-specific attacks and vulnerabilities, which can't be found by traditional, wired intrusion detection systems.
Other participants in the invitation-only event included Aeroprise, Inc., AvaLAN Wireless Systems, Inc., Barbedwire Technologies, Circumnav Networks, DesignWorks, Fast Digital, Green Eye, M-Pedia Corporation and Saleen Systems, Inc.
Silicon Valley Bank's Showcase debuted in September 2000, and is hosted by the company's Emerging Technologies Practice. Events like Showcase help Silicon Valley Bank connect its clients to its vast network of partners in the investment community and fulfill its mission to help entrepreneurs and enterprising companies succeed. In an ongoing effort to achieve this goal, SVB conducts and sponsors a broad series of training, educational and networking events for the entrepreneurial companies it serves.
Cooley Godward LLP, Cresa Partners, Ernst & Young, Ravix Group, Inc., Sequoia Benefits, LLC and TriNet Group sponsored Showcase 2004.
About Silicon Valley Bank
Silicon Valley Bank provides diversified financial services to emerging growth and mature companies in the technology, life sciences and private equity markets, as well as the premium wine industry. Through its focus on specialized markets and extensive knowledge of the people and business issues driving them, Silicon Valley Bank provides a level of service and partnership that measurably impacts its clients' success. Founded in 1983 and headquartered in Santa Clara, Calif., the company serves more than 9,500 clients around the world through 26 domestic offices and two international subsidiaries in the U.K. and India. More information on the company can be found at www.svb.com.