Q&A: Ching-I Hu of Raritan p6
The Future of Financing p12
Special Report: Part 1â€” Disaster Recovery p19
The Business Behind the Technology Sectors of New Jersey
New Jersey Technology Council www.njtc.org April 2013 Vol. 17 Issue 3 $3.50
Greening the Data Centers Also Inside...
How to Build a Smarter City p22 The New Jersey Technology Council and Education Foundation 1001 Briggs Road, Suite 280 Mt. Laurel, N.J. 08054
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Innovation Zone 8 NJBIN Welcomes 15th Incubator to Its Network JuiceTank, located in Somerset, NJ, is the 15th company to join the NJBIN network. By Michele Hujber
On the Cover
16 Greening the Data Centers How can we better optimize energy efficiency in the worlds’ data centers?
10 The Importance of Using Data to Forecast, Plan & Manage Your Energy Spend Data-based strategic energy planning and management is the key for businesses to meet their energy-related goals. By Andrew Singer
Features 18 Special Report: Disaster Recover & Business Continuity—Perfect Together This two-part series will help us answer the questions: How can we ensure that NJ businesses survive future events like Sandy? How can we ensure the resilience of information technologies that support NJ businesses? By John Verry
Columns 5 Talent Networks Technology and Entrepreneurship Week 6 Corner Office Q&A: Ching-I Hsu, Chairman and CEO of Raritan By Jennifer Simoni
11 Family-Style Mobile Security Packages Meet New Challenges Just like big businesses, families need to worry about security and sharing, too. By Jiren Parikh 12 Equity Crowdfunding: A New Way for Startups to Find Financing Equity crowdfunding platforms are being developed to allow investors to invest their dollars into startup businesses, in return for an equity stake in the company. By Daryl H. Bryant 13 The Benefits of an Engaged Workplace With three-quarters of America’s workforce disengaged, it’s time to take a closer look at how we lead. By Eileen P. Monesson 14 Be a Master of Creativity 3 Steps to Making Creativity a Competitive Advantage for Your Company By Cindy Bates
22 EDUCATION Building a Smarter City Stevens Institute of Technology is partnering with the City of Hoboken to create a smarter city.
Expert View 21 Company Acquisitions: How Data Due Diligence Readiness Can Increase the Value of an Acquisition By Dennis Parker 23 Do You Have a Succession Plan? Every Chief Executive Needs a Backup Plan for Themselves. By John Reed
4 President’s Message 26 Photo Gallery 28 New Members 30 Calendar of Programs
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President’s Message FOUNDER, PRESIDENT & CEO Maxine Ballen • firstname.lastname@example.org CHIEF OPERATING OFFICER Joan C. Praiss • email@example.com VP MEMBERSHIP Paul A. Frank III • firstname.lastname@example.org VP Publications/Business Development Leo Mennitt • email@example.com EXECUTIVE ADMINISTRATOR Karen Lisnyj • firstname.lastname@example.org events Manager Meredith Meyer • email@example.com
Promoting innovators, helping technology companies grow their business and show casing the region assets is top of mind for the New Jersey Technology Council. All of our activities, events and support are aimed at helping companies to excel in innovation right here in our very own backyard. In a continued effort to foster that innovation, I’m thrilled that the NJTC is part of a new initiative out of Trenton— The Governor’s Council on Innovation. The goal is to encourage even greater collaboration between NJ’s colleges and universities, the business community Visit our and government, and to work together to remind everyone that NJ is a top-tier website at destination with a thriving innovation ecosystem. A crucial part of our innovation ecosystem is our vibrant tech community. ww.njtc.org We have a number of upcoming events that bring together top companies from around the state as well as Delaware, Pennsylvania and New York. Our second annual FinTech conference is scheduled for June 5 in Jersey City. Last year’s event was a sold-out success. Don’t miss your chance this year to learn from and meet top influencers in this fast-paced industry. Also save the date for our CFO awards on June 12, and if you haven’t yet, take a few minutes to nominate your CFO for all the great work he or she has done this year. (More information below.) NJ has always been a hotbed for innovation and invention—and I for one look forward to continuing in that tradition of growing and showing off New Jersey’s innovation ecosystem. n
—Maxine Ballen, President & CEO, NJTC
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NOW ACCEPTING NOMINATIONS FOR THE 2013 CFO of the YEAR AWARDS The award categories are: CFO of the Year • Deal of the Year • Financier of the Year • Hall of Fame
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Deadline for nominations is April 19, 2013 Submit nominations online at www.njtc.org The awards ceremony will take place at the CFO Awards Breakfast on June 12, 2013 at Forsgate Country Club.
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NJTC Members have exclusive opportunities to use NJTC media channels to help get the word out about member companies’ innovation and achievements. Have an idea for a story, or a thought leadership article, perhaps a case study of your latest success story? TechNews and TechLifeSciNews are on the hunt for new contributors. If you are interested in contributing a bylined article contact Leo Mennitt, VP of Publications at email@example.com or call 856-787-9700 NJTC members can post company newsletters and press releases on the NJTC TechWire, simply send to firstname.lastname@example.org. For our Blogging members check out our NJTC Member Blogs on NJTC Connections; each is accessed from www.njtc.org.
TechNews | www.njtc.org | April 2013
Technology And Entrepreneurship Week April 22 - April 26, 2013 The Technology & Entrepreneurship Talent Network and The New Jersey Technology Council are hosting the first annual NJ’s Tech & Entrepreneur Week. A series of events will be offered throughout the week to create state-wide attention and awareness of career opportunities in Technology & Entrepreneurship that will provide continued economic prosperity in NJ. This week is dedicated to creating awareness of the many opportunities for employment and business growth in the NJ Technology sector. This is also an opportunity for Entrepreneurs to learn and network to create new and sustainable businesses.
Monday, April 22, 2013, 11:30am How to Make New Jersey a High Tech Hub Rowan University, Rowan Hall, College of Engineering – Betty Rowan Auditorium Supported by AT&T This event will focus on the technology & Panel Moderator infrastructure needed for NJ to compete on a Doug Schoenberger, VP, Public Policy, Verizon global level. What actions should businesses take to position NJ as a destination for high technology Panelists industries. • Michael Christman, President & CEO, Coriell Welcome: Maxine Ballen, President & CEO, NJTC Institute for Medical Research Keynote: Dr. Ali A. Houshmand, President, Rowan • Mark Clifton, VP, Products & Services, SRI Sarnoff University • Sandy Fisher, Director of Substation Transmission Speakers: Kim Guadagno, Lieutenant Governor, Engineering for Atlantic City Electric & Pepco State of NJ (invited) • Simon Nynens, Chairman, President & CEO, Harold J. Wirths, Commissioner, Department of Labor Wayside Technology Group and Workforce Development, State of NJ (invited) Wrap-up: J. Michael Schweder, President, AT&T Mid-Atlantic States
Tuesday, April 23, 2013, 8:30am NJTC Entrepreneur Boot Camp Rutgers University-Busch Campus An intense day long conference of speakers and panel discussions for pre-seed and early stage entrepreneurs.
Wednesday, April 24, 2013, 3:00pm Share the Vision: NJTC Tech & Science Showcase Lincoln Technology Institute, Paramus NJTC’s Share the Vision: “Technology and Science Showcase” will present discussion, panel presentations and exhibits around the latest trends and innovative technologies driving the growth and development of technology in the Northern New Jersey region.
Thursday, April 25, 2013: People 2 Business, 2:00pm Health Options Worldwide Somerset An event linking middle to top level industry volunteers with small and early stage technology-based companies.
Friday, April 26, 2013, 9:00am Bridging the Gap Interview Workshop Burlington County One Stop Career Center These workshops are designed for job seekers interested in obtaining a position in the technology industry. The workshop will address practical job search strategies and interview practice with hiring managers and executives.
Upcoming Events Bridging the Gap Interview Skills Workshop
Join other job seekers for this interactive session that provides an opportunity for you to sharpen your interviewing skills, practice your introduction/elevator pitch, conduct mock interviews with business hiring managers, and more. FREE Please visit www.NJTETN.org for upcoming dates and locations.
Jersey Job Club Training
The Technology & Entrepreneurship Talent Network presents Jersey Job Club trainings throughout the state. This training provides job seekers with up to date information on the latest technology jobs trends, interviewing skills, networking skills, job search resources, and more. FREE Please contact your One-Stop Career Center or visit www.NJTETN.org for upcoming dates and locations. _______________________
Did you Know?
NJ has regional resources dedicated to assist you in having your business thrive.
Workforce Investment Board (WIB) Directors
Contact your WIB Director for assistance identifying how the Department of Labor and Workforce Development can help you achieve your business goals. Once your talent development needs have been identified, the WIB Director works in concert with our One-Stop Career Center Business Representatives (BRs) maximizing the efficient delivery of business services available to ensure they meet your unique needs.
Our Business Representatives work hand-in-hand with the WIB Directors to serve the business community. Business Representatives are available to meet with you to offer no cost recruitment services, numerous hiring incentives, and whether you are training new or existing employees, incentives for your training needs. WIB Director & Business Representative e-mail addresses can be found at: http://lwd.dol.state.nj.us/labor/index.html
For more information and to register visit www.njtetn.org TechNews | www.njtc.org | April 2013
Chairman and CEO of Raritan By Jennifer Simoni
In 1985, you and your wife Esther started a PC component resale business out of your house. As they say…you’ve come a long way. How did you go from selling resale PC parts to being recognized in the industry as one of the fathers of KVM technology and now a leader in data center energy management and DCIM? Raritan, indeed, has come a long way. Today we have three business units. Knowledge gained from one Raritan business has helped open doors to other businesses. In Raritan’s early days, we moved from reselling PC components to manufacturing PCs. To help make our PC business more efficient, we developed a tool that helped test multiple PCs simultaneously from one console—the tool was the predecessor of the first KVM switch. In the early ‘90s, we saw a market for KVM and started a business to provide customers with a more efficient way to control multiple servers from a central console. The KVM business grew rapidly. With Raritan becoming one of the top vendors, we expanded internationally and established a strong presence in data centers. Being in 50,000 data centers and server rooms, opened the door to another new business. We had early insight that energy was becoming a major data center issue in terms of costs, capacity and greenhouse emissions. Then, because we were the first to enter the intelligent power management market in 2007— by providing data centers a way to measure energy accurately at the device level—we found ourselves in the enviable position of recognizing other issues, closely related to energy, that needed to be solved. These issues concerning the complexity of asset and change management and capacity planning of IT and facility infrastructures gave birth to yet another new market—DCIM (Data Center Infrastructure Management), which Raritan entered in 2008.
Your solutions are used in just about every data center in the world today. What’s next for Raritan? Helping data centers reduce complexity and improve operations has been our core business for decades. The data center transition to the next-generation design has just begun, and many of the necessary technologies to support and guide this transition are emerging. Raritan will continue to lead the industry and innovate to help accelerate the arrival of the next-generation data center.
This issue of TechNews is our Energy issue: Would you talk a little bit about Raritan’s energy business? Our power business has enjoyed incredible growth in the past five years. Raritan
is considered the leader in intelligent power management as a result of our extensive intelligent rack power distribution unit (iPDU) portfolio and energy management software. Our solution has helped many data centers around the world meet their goals of being more energy efficient, resulting in cost savings and environmental conservation. We will continue to innovate and bring new ideas to the market that will aid the data center manager in creating state-ofthe-art energy-efficient facilities. We are grateful to have the support and trust of world-class customers—such as ADP, Cisco, Deutsche Bank, eBay and Royal Caribbean—who are today’s leaders in energy-efficient data centers.
Raritan has developed many ‘firsts,’ and continues to innovate. What is your secret to staying ahead of the curve? Frankly, our secret is to follow one of our company values, Customer Focus. Raritan defines Customer Focus as striving to delight our customers with innovative products and superior service. With every customer interaction, we carefully listen to fully understand their operation and the problems they need to solve. Armed with that knowledge, we then develop a complete solution to meet their data center needs.
Were there any major (or minor) missteps along the way? Like any technology innovator, Raritan has had missteps, but we learned from them. If we didn’t take risks, we never would have been able to adapt to the fast-changing market, and we most likely would not be here today. The key to innovation is experiment, learn and adjust to lessen the chance of major missteps.
Data Center Infrastructure Management (DCIM) is a big topic, and is predicted to experience explosive growth. What challenges do you see in the DCIM market? Like most new emerging markets, there are lots of entrants, varied approaches and many views on market definition. As a result, there is great confusion on what DCIM means, what problems can be solved and how to solve them— resulting in a substantial gap between customer expectations and solution vendors’ promises. In my opinion, this is the key roadblock to the advancement of the DCIM industry. DCIM can be very complex, often crossing and requiring different functional domains to maintain its performance and availability. Today’s point tools— such as homegrown databases, spreadsheets, and diagramming software—can only take you so far and quickly become ineffective when sites get larger and
TechNews | www.njtc.org | April 2013
work processes get more complex. Recognition of this problem and prioritizing budgets to solve it will be important for all data center operators, if they are to be competitive in the future.
How can we address those challenges, before they become problems? Education and expectations are key tenants. Data Center operators should clearly understand the functional possibilities of DCIM software. DCIM solutions are more than a tool or widget that you simply procure and turn on. They are process solutions, similar to a CRM or ERP deployment, requiring alignment of problem, solution, processes, and people. Successful DCIM deployments often take fundamental changes of process and work practice in the organization to be successful. So we need to educate and provide the tools that help data centers assess their operations and identify the key problems that they want to solve. Without this first step, it becomes challenging to deploy the right solution. It is also prudent to implement in phases. Experience suggests that by taking incremental steps, experiencing success and realizing value, customers gain confidence in further deployment. This is the approach that Raritan takes. We help customers take a practical path with a roadmap or maturity model that starts with an initial project to learn and extract value. For example, our DCIM software suite, called dcTrack, helps a typical data center professional answer the questions faced everyday: “How many servers do I have and where are they located?”, “How are they physically connected to the power line, and network patch panel?”, “Can I place these servers in those racks?”. As users become more sophisticated with DCIM’s capabilities, they can incorporate power chain and cable plant management with workflow to get answers to more sophisticated questions, such as “tell me the impact of performing a UPS maintenance” because the DCIM solution knows exactly all the devices connected to the UPS downstream. In addition, a change management function with ticketing system, can help customers better manage equipment moves, adds, and changes. With DCIM they can measure exact capacity of space, power, and cooling—at a building level, room level, or down to the individual port level in a rack—in order to improve operational efficiency and productivity.
Back to your success: What do you look for when hiring your executives—Skills? Characteristics? What is your management style?
As a serial entrepreneur, what advice would you give other companies looking to grow in today’s technology industry? I am an atypical serial entrepreneur because I started one company. However, under the Raritan umbrella we started four different businesses—PC, KVM, intelligent energy management, and DCIM. We were early entrants and helped shape these new market categories.In addition to luck, my advice is to listen to customers and partners as they are the ones closest to where the important pain points exist that must be addressed. Also, keep an eye on business fundamentals—business model, organizational structure and go-to-market strategy—and be nimble so that adjustments can be made to ensure that you add value and meet customers’ needs, stand out from competitors, and operate a healthy business in all kinds of market conditions. Be thought leaders for the industry. At times, it is difficult to be pioneers, but it is very rewarding.
What do you think data centers will look like 10 years from now? The industry will continue to be shaped by technology trends toward faster, smaller, smarter, securer and connected data centers. I imagine that today’s data center will be replaced with new technologies that are more space and energy efficient, and with advanced infrastructures to make it easier to shift compute resources to better meet business and societal demands. Innovation is taking place today in how data centers are cooled and powered, including using ocean water and solar power. The future will be extraordinary; I can’t wait to see this future, and how the people of Raritan will help in the transformation. n
Raritan has several business units at different lifecycle stages, so we look for individuals that have both leadership skills and entrepreneurial skills. In new markets you need to inspire and help shape tomorrow’s vision, yet grasp the reality of today’s dynamic changing marketplace to deliver solutions that are valued by customers. We look for individuals who are independent thinkers, embrace new ideas, and are agile, effective, and innovative. My management style is open and consultative. I encourage individuals from every level of the organization to share ideas—I believe sharing knowledge enhances growth of the individual and the entire team. I also encourage the team to take prudent risks with the knowledge and assurance that I understand the potential upside and downside inherent in risk taking. As I previously stated, the key to innovation is experiment, learn and adjust to lessen the chance of major missteps.
TechNews | www.njtc.org | April 2013
Legal Q&A Eight months after the enactment of the 2012 Solar Act (L. 2012, c. 24), what do we know about NJ’s solar industry? On March 20, 2013, the BPU is scheduled to announce the fate of several dozen “subsection (s)” applications it received last December. Subsection (s) was included within the Solar Act to address solar facilities proposed to be located on farmland that have reached certain development benchmarks. Generally, only those farmland facilities that are certified by the BPU as “connected to the distribution system” under subsection (s) will be eligible to produce and sell SRECs. Given the apparent intent of the Solar Act to limit solar development on farmland, the BPU will be reluctant to approve most (if any) of these applications. Since the Solar Act was enacted last summer, installations are down (compare 9 MW last December with an average of 40 MW per month before that) and SREC prices are up (now near $100). We will never again see the $600 per SREC highs of 2009, but the market has begun to recover from the $60 per SREC lows of late 2012. For this market recovery to continue, the BPU will likely limit future farmland installations. A likely first step? Rejecting most of the 500 MW-worth of subsection (s) applications it received.
NJBIN Welcomes 15th Incubator to Its Network By Michele Hujber The New Jersey Business Incubation Network (NJBIN) recently announced that JuiceTank in Somerset has joined the network. With this latest addition, NJBIN now has fifteen incubators in its network. This incubator significantly increases the resources available to startup and earlystage technology companies that have opted to call New Jersey home. JuiceTank was founded by Mukesh M. Patel, Esq.; Anish Desai and Charlie Patel. Each of the founders comes from an entrepreneurial background and shares a commitment to social entrepreneurship and charitable giving. One of the cornerstone philosophies of JuiceTank is the concept of “Share it Forward,” where the ventures give back and share forward to make a positive meaningful impact on others and special causes. JuiceTank provides shared resources, such as accountants, lawyers, patent officers, human resource professionals and technology development professionals. In addition, JuiceTank invests in and partners with startups, whether they are located in the incubator or elsewhere. JuiceTank funds companies from $15,000 to $250,000 from their seed fund and will also go with these companies to Venture Capitalists to obtain additional funds, if required. The incubator also partners with traditional banks to help obtain funding for its companies. JuiceTank is actively seeking investment opportunities in the web and mobile products or services, healthcare, sports and entertainment, hospitality and travel, green initiatives and consumer products sectors. Within the next 12 months, their goal is to listen to 1000 pitches and to select one company a month. At any given time, they will be incubating 12 companies. JuiceTank founder Mukesh M. Patel is a serial entrepreneur, a founding principal of a private equity firm, attorney, business advisor, angel investor, and mentor. As a serial entrepreneur, he has founded numerous ventures and a private equity opportunity fund. Co-founder Anish Desai is the president & founder of Symphony Solution Inc., which focuses on mobile and web technology and business process outsourcing solutions. Co-founder Charlie Patel runs a successful project management firm. Additionally, he has launched several profitable start-ups. Business incubators reduce the risk of small business failures. Historically, National Business Incubator Association member incubators have reported that 87 percent of all firms that have graduated from their incubators are still in business. In New Jersey, incubators make measurable contributions to the state’s economy through their support of businesses. Over the past three years, annual contributions from over 450 entrepreneurial companies in NJBIN incubators have averaged 1,380 new, higher-paying jobs created and retained; $255 million in revenue generated and $71.5 million in third-party funding brought into New Jersey. n
Michael A. Bruno is a shareholder and Steven P. Gouin is an associate at Giordano, Halleran & Ciesla, PC. They can be reached at (732) 741-3900 or email@example.com or firstname.lastname@example.org.
JuiceTank is located in Somerset, NJ.
To learn more about JuiceTank, visit http://www.juicetank.com/ or call (908) 505-5735. To learn more about NJBIN, visit http://www.njbin.org.
TechNews | www.njtc.org | April 2013
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I have a technology Company that has developed a SaaS product; do I have to worry about sales tax?
The state of New Jersey does not generally charge sales tax on the sale of software as a service (SaaS) products, however, if you have a presence (often called “Nexus”) in the state of New York, New York will require that you withhold and remit sales tax on SaaS software which you sell to users who are using the software while in their state. They are one of several states that requires a Company to charge sales tax on SaaS product offerings. This is a complex topic that needs to be evaluated with your tax advisor, however, if ignored, can create a significant tax exposure.
Christopher M. DeMayo, CPA, MBA, is a Senior Manager in the Somerville office of WithumSmith+Brown, Certified Public Accountants and Consultants. He is also a member of the Firm’s Technology Services Group, serving technology clients in the areas of audit and tax. Chris can be reached at 908.526.6363 or firstname.lastname@example.org.
The Importance of Using Data to Forecast, Plan & Manage Your Energy Spend By Andrew Singer In today’s energy market, most businesses recognize that they can manage their energy costs but don’t always realize how they can use or harness energy data to strategically procure or manage energy. There are many potential data points in nearly every business or organization, regardless of the size or type, and using that data is key to meeting energy related goals and lowering costs. Employing a data-informed energy procurement plan can help companies mitigate the risk of price fluctuation, more accurately budget and forecast, and provide flexibility to lower their energy spend and energy consumption enterprise-wide. At the 17th annual Ohio Energy Management Conference, I went over the following questions to help companies better understand the issues at-hand and the corresponding solutions: • Why are some companies not optimizing energy data? • What is strategic energy procurement? • How are leading companies using strategic energy procurement to lower energy costs and energy consumption? The bottom line is that commercial and industrial businesses and government agencies are actively looking for effective ways to reduce energy usage and costs. According to the Deloitte reSources 2012 Study, 90 percent of companies have set goals regarding electricity and energy management practices, and 85 percent of businesses view reducing electricity costs as essential to staying competitive. Harnessing energy data for strategic energy planning and management is key to any business or agency meeting their energy-related goals. To receive a more in-depth analysis of strategic energy procurement and the 4 steps of developing a successful action plan, you can download a free whitepaper at www.constellation. com/NJTC. n
Andrew Singer is vice president, national accounts at Constellation. www.constellation.com
TechNews | www.njtc.org | April 2013
Family-Style Mobile Security Packages Meet New Challenges
Just like big businesses, families need to worry about security and sharing, too By Jiren Parikh With the proliferation of mobile devices worldwide, mobile device security is a growing issue for businesses and families. A recent report by the U.S. Government Accountability Office found that the number of malware programs designed to target mobile devices rose from 14,000 to 40,000 in less than a yea—a 185 percent increase. Malware is designed to compromise confidential user data via a variety of methods. In addition to malware, mobile device users face other mobile security threats, including theft and loss. Millions of smartphones and tablets are lost or stolen each year. And since the devices tend to contain highly sensitive data, including family and business contacts and banking information, a lost or stolen mobile device that falls into the wrong hands can be a major issue, and unless the content is backed up securely, it can be lost forever.
Family Package Trend Mobile device use continues to show a strong growth trajectory, so the threats which mobile device users face now are likely to increase as usage grows. More data is consumed via mobile devices now than ever before, with approximately 10 percent of webpage visits currently originating from a handheld device. This not only makes additional security a pressing concern, it signals the need for more data management solutions. Carriers that deliver mobile services are responding to the increase in data consumption with family data packages. Carriers design data packages to enable families to share data across multiple devices, a tacit recognition of both increased data usage and device proliferation. Like businesses, families face growing security concerns in addition to increased data requirements and data management tools. As a result, there’s a need for family packages that streamline data management, protect online privacy and deliver robust security functions.
The Secret Is in the Sharing and the Security To address the trend of increased data consumption and management needs as well as the growing threats to digital privacy for the whole family, forward-thinking developers are packaging innovative new solutions. One key element is interconnected, cloud-based storage capabilities. This allows families to store, edit and instantly share vital contact information, files, photos, music and more. The second element is security: New family data protection solutions allow consumers to secure content across all family members’ devices. Must-have features include a way to synchronize content using cloud storage, encrypt messaging to improve privacy and remotely track and secure content. Features like GPS tracking and remote data wiping capabilities help families fully leverage digital assets to keep family members, devices and confidential information safe.
Cloud-Service Applications Are Up to the Challenge In many ways, the rise of mobile device usage is revolutionizing communication as fundamentally as the advent of personal computing once did. Web masters are changing their sites to accommodate mobile viewing, and developers are busy creating new apps and social media platforms to serve mobile customers’ entertainment and information needs. Carriers are devising new family packages to meet the growing demand for data. The trend also drives an increasing need for data management as well as security and privacy protection solutions, requirements that are shared by the entire family. Apps that give families a safe, affordable way to store, access, edit, stream and share files and protect data and family privacy are meeting the challenges today’s families face. n
The New Security Reality Family data management and security packages can address new realities in the way families communicate with one another and stay connected. It’s now commonplace for parents to use mobile devices to communicate with their children and keep tabs on their activities. And family members are now more likely to conduct sensitive business via smartphones and tablets, including online shopping and mobile banking. While the convenience of being able to deposit checks and pay bills from a smartphone or use a tablet to converse or share and edit photos and files with family members anytime from anywhere is unmatched, it’s more important than ever before to make sure confidential information isn’t compromised.
A One Stop Shop
Snap MyLife, Inc. has changed its name to SnapOne, Inc. The company’s name change and product suite symbolizes its one-stop solution for families in need of help securing and managing their digital lives. The suite of applications, all under the umbrella of Snap One for Families, enables families to easily manage content backup, synchronization, streaming, storing, editing, sharing and messaging.
Jiren Parikh is CEO of SnapOne, a leading developer of popular privacy protection, personal security and digital content management solutions located in Princeton, NJ. www.snapone.com email@example.com
TechNews | www.njtc.org | April 2013
Equity Crowdfunding: A new way for startups to find investors By Daryl H. Bryant
Over the past few years, a new industry has begun to revolutionize the way ideas, projects, businesses, and even people receive funding. This new industry takes advantage of the vast social resources available in today’s world to bring high volumes of people together to support other people’s initiatives. This new industry is crowdfunding.
What Exactly Is Crowdfunding? Crowdfunding, in its simplest form, is bringing together a large number of people to financially support businesses or projects. Rather than the traditional forms of business financing with large sums of money being transmitted from a small number of investors, crowdfunding allows hundreds or even thousands of contributors to fund as little as $1 to support a cause. In 2013, the power of social media has never been stronger, which is a vital part to crowdfunding. Crowdfunding allows businesses to access their social influence to reach out and seek financial support from those interested in their company or project. Crowdfunding has a few different models within itself—donation, rewards, and soon-to-be equity. The current crazes we hear in the media are being funded on Kickstarter, Indiegogo, RocketHub, and other donation and reward-based platforms. This means that for a financial contribution, each financial contributor will receive a reward as compensation. Rewards range from a new tee shirt, a ‘thank you’ on the company website, to being able to name a character in the company’s upcoming video game or movie. The rewards offered are all dependent on what the founding members decide to supply as rewards for each suggested financial contribution level. The newest model of crowdfunding, making its way to the market, is equity crowdfunding. Equity crowdfunding platforms, such as StartupValley, are being developed to allow investors to invest their dollars into startup businesses, in return for an equity stake in the company. The beginning of the equity crowdfunding world all took place on April 5th, 2012 with President Obama’s signing of the JOBS Act into law.
What Is the JOBS Act? The JOBS Act was signed into law last year with strong bipartisan support. The JOBS Act initially specified for the Securities Exchange Commission (SEC) to finalize the regulations by December 31, 2012. With that said, the SEC has been working hard on changing an 80 year old law that’s been around to prevent private companies from soliciting investments from potential investors, but has not been able to finalize
regulations quite yet. Current estimates for the completion of Title II of the JOBS Act, which allows accredited investors (those with an annual income in each of the last two years of $200,000 or more) to begin investing in startup companies, is towards the beginning of Q2 2013. Title III of the JOBS Act allows for all investors to participate, no matter their annual income level, to participate in equity crowdfunding and is estimated to start by the end of 2013 or beginning of 2014. Currently, without finalized regulations, many equity crowdfunding portals like StartupValley are gearing up for launch once the solicitation bans have been lifted by the SEC. StartupValley has begun attracting qualified startups to its platform and creating relationships with interested investors. StartupValley will be a full-service marketplace for both technology companies and quality investors.
How Can a Startup or Investor Get Involved? There is no better time to start getting involved in this up and coming equity crowdfunding industry than today. Startups will register with a FINRA approved equity crowdfunding portal to submit the needed business documents for approval. These portals, in conjunction with their broker dealer partners, must vet the deals and perform background checks on all issuers in order to ensure they are of quality and unsuspicious to fraud. Items needed, just to name a few, will be a business plan, financial statements and projections, term sheet, management overview, pitch deck, and promotional video. These documents will help the platforms have more details to base their approval process on. The documents will also give the investors needed information for making sound and educated investment decisions. Equity crowdfunding has been happening in the United Kingdom, Australia, and other European countries for a few years now and there has been zero incidence of fraud. The beauty of crowdfunding is the crowd can vet the deal alongside the crowdfunding portals. With the background and securities checks and limits set on all financial raises, the chance for fraud is minimized and investors are protected.
2013 Is the Year 2013 is set to be a huge year for crowdfunding, capital raising, and job creation for small businesses and startups around the country. With entrepreneurs and small businesses making up a majority of the new jobs in the United States, it will be important to give startups easier access to much needed capital. We’re living in a startup world and crowdfunding will become and continue to lead the charge in how ideas, businesses, and people receive financial funding. n
Daryl H. Bryant is the Founder and CEO of StartupValley. firstname.lastname@example.org, www.startupvalley.com 201-710-7137
TechNews | www.njtc.org | April 2013
The Benefits of an Engaged Workplace
With three-quarters of America’s workforce disengaged, it’s time to take a closer look at how we lead. By Eileen P. Monesson Business and psychological researchers have found a direct correlation between an employee’s workplace engagement and a company’s overall performance. Organizations with fully engaged employees are more likely to experience positive business performance than those whose employees are not engaged. Profitability, productivity, quality and client satisfaction are all affected by an employee’s level of engagement. Gallup’s 2011 Employee Engagement Index reported that nearly three quarters of the U.S. workforce is emotionally disconnected from their workplaces and are less likely to be productive. That leaves a small fraction of employees truly enthusiastic and working at a highly productive and energized level.
The Power of Positive Energy An individual’s energy level has an influence on his or her success. Leaders with positive energy receive a positive reaction to that energy. Just look at the results achieved by a leader that manages by empowerment versus one that manages by fear. Even though both leaders might get the job done to the customer’s satisfaction, the team that is empowered will have a more positive and productive experience working on the project. Less time and energy will be wasted on defending ones actions, gossiping about injustices, and feeling underutilized. In his book Energy Leadership: Transforming Your Workplace and Your Life from the Core, Bruce D. Schneider [founder and CEO of the Institute for Professional Excellence in Coaching (iPEC)] defines two types of energy: 1. Anabolic energy is constructive, rejuvenating and sustainable. Employees with a high level of anabolic energy are passionate, creative, and focused on working together to find opportunity in a challenge. 2. Catabolic energy is destructive and draining. Catabolic energy causes stress, burn-out, anger, and fear. Employees in a catabolic state complain, worry, and are full of self-doubt. These team members are emotionally attached to misfortune and are stuck in a problem instead of a solution mindset. A study conducted by Karen Buck, M.S., and Diana Galer, Ph.D., CPC, ACC, in 2011 entitled Key Factors Reveled for Determining Success in Work and Life showed that shifting from a catabolic to an anabolic mindset can increase an employee’s engagement at work by 51 percent. The study also determined that an employee’s satisfaction with his or her level of work/ life balance increased by 70 percent and working relationships by 44 percent.
The Anabolic Leader Sets the Stage The anabolic leader demonstrates his or her ability to engage employees on an individual, social, and organizational level. Anabolic energy creates an environment where employees are engaged and work in collaboration with one another. In an anabolic culture challenges are not considered a negative. Instead, challenges are viewed as opportunities. Having an anabolic culture is a competitive advantage for a company. New ideas are constantly being generated to improve client service, attract new customers, and retain employees. The way that a leader interacts with his or her team has a tremendous impact on building anabolic energy and engagement. Managers that participate in meetings, respond to situations and socialize with employees with anabolic energy will establish a highly functional company culture. It is important for company leadership to acknowledge that these interactions must be authentic. If you say one thing and do another, you will lose the respect and trust of your team. The key is for leaders to channel the energy of their team to an anabolic level so that each member is using his or her strengths for the benefit of the company and its customers. Leaders that can shift their team’s energy to function at a higher level will have more opportunities, successful results, and a positive impact on the company. n Eileen P. Monesson is a founding Principal with PRCounts, LLC. She has more than 30 years of experience in marketing, business development, public relations, and communications. She can be contacted at 609-570-2150 or EMonesson@PRCounts.com.
TechNews | www.njtc.org | April 2013
Count on a Customized Energy Solution to Meet Your Needs. 855.233.3620 constellation.com/NJTCAD1
© 2013. Constellation Energy Resources, LLC. These materials are provided by Constellation NewEnergy, Inc. Any offerings described herein are those of Constellation NewEnergy, Inc., a subsidiary of Exelon Corporation. Brand names and product names are trademarks or service marks of their respective holders. All rights reserved. Errors and omissions excepted.
Be a Master of Creativity
3 Steps to Making Creativity a Competitive Advantage for Your Company By Cindy Bates If you are a small-business owner, you are a master of creativity, whether you realize it or not. Every business starts with the seed of an idea, and whether you’ve brought a business idea from concept to reality, or grown a company you inherited or bought, you’ve proven your creative capacity. When you consider that creativity is a constant and evolving process, you can view it as fuel for unlocking ongoing potential within your business. Small businesses are especially well-suited to generating creative concepts and bringing them to fruition. In this case, smaller can be better, providing relatively more flexibility and nimbleness than many large enterprises are able to achieve. But the key to ensuring a creative environment within your business is to foster and encourage it within yourself and among employees. Here are a few ways to do just that:
faces will be met by a team that brings many different perspectives and potential solutions. There is an incredibly strong case for actively building a team of professionals from varying, even surprising, backgrounds. I’ve seen some of the most innovative thinking come from teams and businesses that draw from a wide range of “voices,” because these different perspectives challenge the status quo. Even if you have only a small number of employees, you can foster diversity within the office walls by bringing in a speaker from an entirely different industry to share their business experience and inspire your team. At a recent internal meeting of my entire team, I invited members of the University of Washington crew team to come talk about how to build a high performing team by leveraging the diversity of strengths across team members. It was very powerful!
1. Encourage creativity without hierarchy. Every employee, regardless of role or tenure, is capable of bringing valuable, fresh perspectives to the business, but they must know that they will be heard and respected for sharing their thoughts. Urge employees at all levels and in all roles to propose new ways of doing things— whether product or service innovations, or basic operational or administrative improvements—by recognizing creative thinking at every turn. You could hold a monthly “idea generation session” where all opinions are welcome, or use an internal community forum, like SharePoint or Yammer to encourage creative chatter among employees.
3. Stay “elastic” to stay creative. The most successful entrepreneurs are the ones who know that they don’t know it all. By staying open to new ideas, and being committed to learning, you’ll set the tone for your entire team. Seek mentorships with successful leaders in fields outside of your own to help you appreciate new ways of tackling problems. Another fun approach could be to swap jobs with an employee for a day (or a portion of one) to gain an appreciation for their responsibilities, and vice versa. Then conduct a debrief to exchange feedback and learnings from that experience.
2. Seek diversity to breed creativity. Seeking employees of different backgrounds, experiences and skill sets helps ensure that the challenges and opportunities your business
Everyday creativity provides a competitive advantage that cannot be duplicated by others. Building a culture of creativity within your small business, where innovative thinking is a natural, daily output, is key to the long term health of all businesses. n
Cindy Bates is vice-president of Microsoft’s U.S. small-and-midsized business group. www.microsoftbusinesshub.com
Constellation: Green Tip of the Month! Did you know...Your company can earn revenue by reducing its electricity load at times when the power grid is under stress? If you are able and willing to curtail some portion of your energy use in response to extreme grid conditions, participation in Load Response programs can provide opportunities to earn revenue while helping to minimize the risk of sudden disruptions for your entire region.
How it works: When energy demand suddenly increases, typically on the hottest or coldest days of the year, your company agrees to reduce its energy output for a specific period of time to make more energy available on the regional power grid. Your company earns payments for participating in the program whether or not an “Event” is called, and additional payments for reducing energy output when the regional power grid is under stress. Why participate in Load Response? • Earn monetary compensation • Improved emergency preparedness • Potential recognition as a good corporate citizen • Greater understanding of facilities and energy usage • Opportunity to fund other projects with load response earnings. The New Jersey Technology Council has teamed up with Constellation as its endorsed power supplier to help members like you intelligently buy, manage and use energy. Learn more at www.constellation.com/NJTCAR1.
TechNews | www.njtc.org | April 2013
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Free 1 hour phone consultation Contact Hanu to schedule a free phone consultation to see how cloud computing can help move your business forward. Ed Nerz | Ed@HanuSoftware.com | (609) 945.0820 www.HanuSoftware.com
Greening the Data Centers
How can we better optimize energy efficiency in the worldsâ€™ data centers.
TechNews | www.njtc.org | April 2013
e live in a world driven by an amazing explosion of data. In fact, way back in 2011, an EMC-sponsored IDC Digital Universe study, “Extracting Value from Chaos” predicted that 1.8 zettabytes (1.8 trillion gigabytes) of data would be created in 2011. That estimate appears to have been conservative given an explosion in consumer-created content and a burgeoning demand for ‘Big Data”-powered applications. Of course, collecting and storing all that data brings some challenges. In today’s world, consumers and business users both store tons of files (documents, photos, spreadsheets, databases, etc.) and expect the data to be there for years, and available at the click of a mouse. That means banks of servers and storage systems running non-stock to house information that will remain at rest most of the time. All those servers and storage devices eat up energy and add up to real costs for IT teams maintaining the systems. In fact, as the New York Times pointed out in a September 2012 article titled “Power, Pollution and the Internet”, data centers worldwide consume an estimated 30 billion watts of energy, roughly equivalent to the output of 30 nuclear power plants. Of that, as referenced by the Times, McKinsey & Co. estimates that only 6 to 12 percent of that power goes into computing operations—the rest is siphoned off, mostly as heat that needs to be dissipated. So it is no surprise that data center energy efficiency is a hot topic in C-suites around the world, and here in New Jersey. Many companies focus their efforts on reducing costly and inefficient cooling processes, which pull away all the heat generated by high-density server systems. But they are not the only ways you can improve energy efficiency. Here are three important strategies—smarter cooling, smarter planning, and better management— that companies are using to address the challenge of greening their data centers.
Smarter Cooling Removing heat from data centers is a major issue and a main contributor to energy inefficiency for many facilities. Here are four strategies for reducing that burden in use by major data centers today: • Airside Economization. This is the use of outside air vs. just using HVAC systems to remove the heat. This approach is especially popular in cooler climates, but is being successfully applied even in mid-Atlantic climates like we have in New Jersey.
•H eat Wheel Integration. Heat wheel systems are a form of heat exchanger that use minimal energy, allow more convenient integration of ambient outside air, and can dramatically reduce overall cooling costs. We have integrated this technology into some very large data centers with great success. • Warmer Server Room Temperature. For many years, it was presumed that servers only ran reliably in very chilly conditions. More recent ASHRAE studies recommend the use of higher temperatures and humidity as a way to reduce energy utilization without compromising server performance. This approach is usable in all data centers immediately. • Hot Aisle/Cold Aisle Configuration. Amazingly, not all data centers are configured for the most efficient removal of heat and introduction of cool air. By properly arranging servers on the floor of your data center, you can achieve greater energy efficiency with no additional cost.
optimizing energy use. DCIM applications can be used to cycle workloads to run at more cost efficient times (power is less expensive at night than it is in the day!) and to optimize workloads to ensure efficient use of server resources. DCIM tools are a data center manager’s ally in optimizing resource use and squeezing out waste. An example of this type of approach is the movement of compute-intensive analytics processes to late night hours when utility costs are lower. • Server Consolidation. In many data centers, servers run at well below optimal capacity, wasting a lot of energy in the process. Reducing total server count to increase utilization should be on every data center manager’s mind. For customers who have not already done so, server virtualization is another way to make better use of server resources since virtualized environments are designed from the outset to maximize shared resources and optimize efficient use of hardware assets.
“Data centers worldwide consume an estimated 30 billion watts of energy, roughly equivalent to the output of 30 nuclear power plants.” Smarter Planning The Hot Aisle/Cold Aisle strategy above leads to another way customers can quickly improve data center efficiency: CFD Modeling. Computational fluid dynamics is a powerful analysis tool for exploring air flow in a data center. Using CFD modeling, you can pinpoint hot zones, plan more efficient airflow and ensure that you maximize the effectiveness of your HVAC and airside economization efforts. CFD modeling is a solid investment for any larger data centers since small changes in layout and HVAC configuration can result in big improvements in airflow efficiency and energy cost reduction.
Better Management The more servers you use—physical or virtual— the more that good systems management can pay handsome dividends in energy efficiency. • Data Center Infrastructure Management (DCIM) is an increasingly valuable tool for not only optimizing performance, but also
•N ew Generation Servers. For customers with systems near end-of-life, newer server technologies are typically more energy efficient and can deliver operating cost savings in addition to better performance. In today’s data driven world, being ‘green’ in the data center is no longer just a sustainability initiative it is good business. By reducing cooling costs, optimizing server resource utilization and better managing workload timing, you can achieve significant reductions in energy use that add us to major savings in your operating budget. n 1. “The 2011 Digital Universe Study: Extracting Value From Chaos.” International Data Corporation. June 2011. http://www.emc.com/collateral/demos/microsites/ emc-digital-universe-2011/index.htm 2. “Power, Pollution and the Internet.” New York Times Online. 09/22/2012. http://www.nytimes. com/2012/09/23/technology/data-centers-wastevast-amounts-of-energy-belying-industry-image. html?pagewanted=all
BRUNS-PAK is an Edison, NJ based data center consulting and design/build company. For more information, contact Jackie Porr at 888.704.1400 or via email at email@example.com.
TechNews | www.njtc.org | April 2013
Disaster Recovery By John Verry As a result of the devastation from Hurricane Sandy, the possibility of another similar—or worse— weather incident and our ever-increasing reliance on the cloud, we have to ask ourselves two questions: How can we ensure that NJ businesses survive future events like Sandy? How can we ensure the resilience of information technologies that support New Jersey businesses? In this 2-Part Special Report, we will uncover the answers to those questions, and shed light on the things that need to be done today. In the past twelve months the State of New Jersey has experienced a number of weatherrelated events that have seriously impacted the State and some of its most important areas, such as the Jersey shore. Many businesses incurred significant disruption to their ability to operate, likely costing the state economy billions of dollars. It’s not only weather that can disrupt operations. Many organizations that use Amazon’s cloud-based offering called EC2 (Elastic Cloud Computing) as their foundation will recall outages in 2011 and 2012 that disrupted several popular services— such as Reddit and Salesforce. Despite having infrastructures with extensive redundancy and recovery plans, Amazon’s outage reminds us that no matter how well protected we think we are, there’s always a chance that something could go wrong. Given the severity of Superstorm Sandy (and the potential for others to come) and our increasing reliance on “the cloud” we need to ask two questions: What can be done to ensure that businesses can survive future events like Sandy? What can be done to ensure the resilience of information technologies that support New Jersey businesses? In this two-part Special Report on Business Continuity and Disaster Recovery, we’ll examine these two activities, their importance, and outline a roadmap to launch a program of your own.
Business Continuity and Disaster Recovery are NOT the Same It’s a generally known fact that Noah (the Ark-itecht) was the first business continuity (BC) and disaster recovery (DR) professional. Like Noah, as business and technology professionals we have a responsibility to protect our organizations from unplanned disruptive events. For many of you, a key part of your job is to “keep your business running”. And that’s just what BC/DR programs do. A business continuity program examines how you operate, identifies the most critical business processes you need to stay in business, and defines how you will keep those business processes running if a disaster occurs. A disaster recovery program focuses more precisely on the information technology and communications assets your organization uses, and how to keep them operational following a disruptive incident. BC looks at your business holistically, while DR looks at the technology infrastructure. Typically a technology DR plan will be part of a larger BC program that addresses the entire business. If you’ve ever been involved in a BC initiative, you’ll recall that typical activities include relocating your operations and staff to an alternate location and ensuring that critical production data, databases and systems can be recovered and restarted from an alternate location. Typical DR activities address how to back up data and other information resources,
TechNews | www.njtc.org | April 2013
Business Continuity and Disaster Recovery Standards
Business Continuity ISO 22301:2012 ISO 22313:2013 NFPA 1600:2010 ASIS SPC.1-2009 FFIEC Business Continuity Handbook 2008 Disaster Recovery ISO 27031:2011 ISO 24762:2008
recover and restart production systems from primary or alternate data centers, protect vital records from damage, and build diversity into your IT infrastructure so as to minimize single points of failure. DR predates BC by about 15 years. DR programs first appeared in the late 1960s and early 1970s to protect large data centers from disruptive events. As centralized data centers evolved into distributed infrastructures and into today’s cloud-based environments, DR was still desirable, but the need had not yet been formalized. In the late 1980s and early 1990s, the idea of protecting the entire business—people, processes, intellectual property, locations, assets, vital records— emerged as an evolutionary direction from
&Business Continuity— Perfect Together
DR. Today, business continuity and disaster recovery can and should be performed together, but just as often one or the other may be done. From a business perspective, it is essential that both are addressed by senior management, as both are required to ensure that the business is resilient. One important development that is helping to raise awareness of BC/DR is the presence of domestic and global standards that define how BC/DR programs ought to be developed, managed and improved. The principal global standard today is ISO 22301:2012, Business Continuity Management Systems – Requirements, and was developed by the International Organization for Standardization. It joins the U.S. standard NFPA 1600:2010, the Standard on Disaster/Emergency
Management and Business Continuity Programs, which was developed by the National Fire Protection Association. Additional standards for BC exist, and are listed in Table 1. The same is true for disaster recovery: the principal global standard for technology disaster recovery is ISO 27031:2011, Guidelines for Information and Communications Technology Readiness for Business Continuity. These standards and others provide excellent frameworks for planning, organizing and implementing BC/DR programs and plans. They serve, in effect, as a recipe for simplifying the BC/DR process. Also of importance is that they facilitate the attestation process, which may be important from an audit perspective.
Building a Business Continuity Management System (BCMS) Table 2:
BC/DR Professional Organizations ASIS International (www.asisonline.org) Business Continuity Institute (www.thebci.org) Continuity Central (ewww.continuitycentral.com) Continuity Forum (www.continuityforum.com) Continuity Insights (www.continuityinsights.com Disaster Recovery Guide (www.disaster-resource.com) Disaster Recovery Journal (www.drj.com) DRI International (www.drii.org) International Center for Organizational Resilience (www.theicor.org) National Fire Protection Association (www.nfpa.org)
In the previous section we introduced a new term: business continuity management systems, also known as BCMS. This is a detailed framework for managing the business continuity function. Think of this management system as the administrative framework that links all the various BC and DR activities together into a cohesive program. It’s true that you can build BC and DR programs without a formal BCMS. However, senior management support for such activities is essential—especially when trying to secure funding. Being able to demonstrate that your BC/DR activities are based on proven and repeatable frameworks and practices will be key selling points to management. From an audit perspective, it will also be important to demonstrate that the program is aligned with approved standards. This is especially true if your organizations processes data on behalf of a third party (e.g., SaaS, claims processing, CRM) as it is becoming increasingly common that client vendor risk management programs call for accredited levels of information security (ISO27001) and business continuity (ISO22301).
TechNews | www.njtc.org | April 2013
It’s also a good idea to ask your key vendors and service providers about their BC/DR programs and plans. Since your organization probably depends on a variety of firms (think of them as your supply chain), you should be confident they can remain operational following a disaster. Having your own BCMS and BC/DR plans in place will also prepare you for similar inquiries from firms that may wish to assess your organization’s preparedness. Once you’ve been able to obtain senior management support and funding for your BCMS, the next step is to build a project plan. When building your plans (and BCMS) regularly review the standards for guidance. Table 3 provides a high-level structure of a BCMS. When building a business continuity plan— typically an output of a BCMS—focus your initial discovery on the following activities: Business Impact Analysis (BIA): Understanding the business and identifying the mission-critical business activities the firm needs to survive, including defining the financial, reputational and competitive impacts to the business from a loss of those critical functions Risk Analysis (RA): Determining the internal threats (e.g., disgruntled employees, business process failure) and external threats (e.g., severe weather, flooding, cyber threats, pandemic events) that could disrupt the mission-critical processes Strategy Definition: Based on analyses of information from BIAs and RAs, define strategies (e.g., data backup and recovery,
alternate data centers, alternate work locations) to protect the critical business processes from the defined threats. Once you’ve completed these three important discovery activities, you’ll be ready to prepare a process-oriented plan that will help you address a disaster situation using the four R’s— recognize, respond, recover and restore. 1. Recognize when a situation is occurring, know how to quickly assess it and determine the need to respond. 2. Respond to the situation by gathering staff who are trained to assess the damage, coordinate incident response activities and (if needed) operationalize the plan. 3. Recover disrupted critical systems and processes into a usable mode using a combination of backup arrangements, alternate processing locations, and resilient networks. 4. Restore business operations to normal or as near-normal as possible. A business continuity plan describes the steps to take to ensure that your business— and its employees and mission-critical activities—can survive a potentially disruptive event and return to normal or near-normal operations as soon as possible after the event. Stay tuned for Part 2 of our Special Report: Disaster Recovery and Business Continuity— Perfect Together coming in May, which will give details on how to plan a business continuity management system and how to organize business continuity and disaster recovery plans. n
A high-level structure of a BCMS Revision History Table of Contents Scope of the BCMS Leadership Management Support Policy Organizational Roles and Responsibilities Business Continuity Objectives Staffing Resources Awareness of BCMS program Communication Documentation BCMS Operations Operational planning and control Elements of the business continuity program Managing the BCM environment Managing the business continuity capability Business impact analysis and risk assessment Business continuity strategy Incident response procedures Business continuity plans Technology disaster recovery plans Exercising and testing Performance evaluation and mainteance Continual improvement
John Verry is the “Security Sherpa” for Pivot Point Security. For more information on how business continuity, disaster recovery and ISO 22301 can work for your organization, along with downloadable resources, please visit http://www.pivotpointsecurity.com
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TechNews | www.njtc.org | April 2013
Company Acquisition: How Data Due Diligence Readiness Can Increase the Value of an Acquisition By Dennis Parker
Today’s buyers are going deeper to validate the value and risk associated with an acquisition. If your company is a target purchase, organizing and cleaning up your data can provide higher clarity on the value of the business, while simultaneously reducing the time and cost to support the~ pre- and post-acquisition due diligence by the potential buyer. Locating and classifying information assets such as contracts and agreements is high on the importance scale, as is high value data such as product development data in the life sciences market. Minimizing the unknown associated with dormant or non-integrated data, reduces buyer fear on the front end of the transaction and also lessens the probability of post-acquisition issues, such as litigation events. Until now, companies were unable to seamlessly process the mountains of legacy data to create official, holistic systems of record. By using a classification service which combines predictive analytics and chain of custody tracking tools, large volumes of legacy archived email and file server data can now be intelligently and accurately processed and classified to make the acquisition target “Due Diligence Ready”. Classification is defined as the systematic,
consistent labeling of documents according to their business purpose. Labeling the documents means creating metadata, attached to the document as additional file properties, which can be used by the enterprise to locate, manage, and isolate document populations as a function of the business objectives. Given the frequency of transactions and the heightened level of activity in certain markets (such as the life sciences market), this is a timely subject with material impact on risk management and valuation. One of the general trends in the M&A due diligence process is increased focus on data analysis for the target entity; this is a result of better risk management sophistication on the part of the buyer, notable high profile events revealing weaknesses in past due diligence activities, and concern over the proliferation of data accumulation. Information governance, is a framework when applied effectively causes an organization to understand its information and data stores in a way that makes due diligence a smoother and more productive exercise. Information Governance is the term used to describe the sum of the parts of creation, use and management of data and information in any organization. The Sedona Conference, a leading industry think tank, has promulgated standard models which describe the classical roles and responsibilities associated with information lifecycle management, a key component of Information Governance. (Further background on these frameworks is available from the Sedona website, https:// thesedonaconference.org/.) Notable reference points across a spectrum of scenarios in the typical enterprise environment include the following: • The average cost of managing 1GB of data (approximately 11,000 documents) in the normal course of business ranges between $5-50/GB/year, depending on the size and requirements of the business. • The average employee spends 24% of their time searching for data on internal systems. • Keyword-based searches typically return
about 20 percent of the relevant target results. • Duplicative data and system files constitute 30-50 percent of all unstructured data stored by the enterprise. • The percentage of contracts and agreements held and managed in ‘official systems of record’ is often less that 50% due to unmanaged, rogue and stranded workflows. • The average cost per GB of data incurred during the litigation cycle (collection, processing, review and production) ranges from $15,000 to $30,000 per GB. • For most organizations, there are 150 terabytes of unstructured data per 1000 employees, representing 1.5 Billion documents and emails based on average size files. • The average organization stores 90 million pages of hard copy documents per 1000 employees. • Every email has an average of 1.75 document attachments, making the email archive an inherent document repository. Many of these documents are the only copy of a record for the enterprise. • “Restricted Information” such as intellectual property, contracts/agreements, and wage/salary analysis are usually not labeled nor indexed in a way that would block them from leaving the firewall using data leakage prevention (DLP) tools. A white paper is available upon request that describes the relationship between common due diligence activities and areas of focus, and the enterprise information governance ‘state’. The correlation between these two activities is useful for the office of general counsel (GC) for the enterprise in planning related to merger, acquisition and divestiture. As can be gleaned from the discussion herein, demonstrating a reliable understanding of the seller’s data and information assets can have a significant impact on valuation and the due diligence process. Increased confidence on the buyer’s part means their comfort level with knowing what they are buying is at its highest, while their potential concerns about risk surrounding legal, regulatory and compliance issues is kept to a minimum. n
Dennis Parker is the president of TechTrueUp. 732.223.3963 www.techtrueup.com
TechNews | www.njtc.org | April 2013
Building a Smarter City Stevens Institute of Technology is partnering with the City of Hoboken to create a smarter city.
Stevens Institute of Technology is partnering with the City of Hoboken on a joint research initiative focusing on the use of information technology and smart devices for improved urban service management and governance. Smart City: Hoboken—a three-year research collaboration between the Hoboken government and Stevens faculty and students— aims to leverage sensor technologies, public data and smart devices such as smart phones and tablets to provide citizens and city decisionmakers with information for improved service delivery and utilization. As part of the project, Stevens is building a Smart City Lab on its Hoboken campus, which will leverage crowdsourcing information and environmental, emergency management, traffic and energy metering sensors to provide citizens with information about
traffic situations, parking availability, energy consumption and sustainability, air and noise pollution, and emergency response. In the first phase of the project, the Stevens research team—led by Dr. Ali Mostashari, associate professor in the School of Systems & Enterprises at Stevens and director of the Smart City Lab – will develop a Smart City application which enables residents of Hoboken to find available parking spots, make more efficient energy choices, monitor air and noise pollution in different parts of the city, receive information about emergencies, and link with Hoboken’s 311 constituent request system to report issues and problems. “We are thrilled to work with the City of Hoboken to implement smart city technologies,” said Mostashari. “With its ever expanding population, Hoboken can benefit
greatly from embedding intelligence into its urban governance, and Stevens is honored to lend its expertise in this area to improve everyday life in the local community.” “With the incredible talent from Stevens, we are taking an exciting step towards further establishing Hoboken as a tech hub,” said Hoboken Mayor Dawn Zimmer. “The Smart City project is an opportunity to build a more informed community and responsive government.” The Hoboken Smart City app will be deployed in fall 2013, with initial version including functionalities for metered parking availability, household energy consumption monitoring, real-time air and noise pollution maps, emergency response information system and the 311 integration. n
Stevens Institute of Technology, The Innovation University®, is a premier, private research university situated in Hoboken, N.J.
TechNews | www.njtc.org | April 2013
Do You Have a Succession Plan? Every chief executive needs a backup plan for themselves.
By John Reed Every technology manager knows the importance of having a backup in place for a company’s IT systems. But have you made the same investment in developing a backup for you? Who will assume your duties should you receive a promotion, need to take a leave of absence, or retire? If you don’t have a plan in place, you’re not alone. In a survey by Robert Half Technology, 79 percent of chief information officers (CIOs) polled said they haven’t identified a successor in the event they had to stop working unexpectedly. That doesn’t mean it’s a good idea to ignore the issue, though. Having a contingency plan for both your IT and personnel needs is always a wise move. The more prepared you are, the less chaotic things will become when changes occur. As you think about a succession plan, keep the following do’s and don’ts in mind:
Do Get Started Now It’s best not to wait until there’s an emergency to prepare others to assume your job responsibilities. Life is unpredictable, so make sure at least one person on your team is ready to jump in should the situation arise. The better prepared a protégé is to take over your role – temporarily or permanently – the greater the chances the person will be successful.
Don’t Focus on the Obvious People As you consider who your successor should be, the logical choice is your most senior-
level subordinate, right? Not necessarily. This person may be a good starting point, but there may be others worth evaluating, too. Why? Not everyone has what it takes to be a good manager. The person directly under you in the organizational chart may be a master at working with Microsoft SQL Server, for instance, but lack the interest or ability to oversee staff or financial matters. Strong technology skills don’t always translate into being a great IT leader. Instead, think about people in your group who have what it takes to handle all of your duties. Individuals who’ve successfully managed project teams are solid candidates, for example, because they’ve had to coordinate employees, deadlines and budgets. Take a look at each employee’s unique skill sets and assets.
Do Explain the Contingencies If you decide to reveal your intentions to succession candidates – a step that isn’t always necessary – be clear that there are no guarantees. Situations may change over time, and both the company and protégés may want to back out of plans. This can happen as late as when the time for succession arrives.
Don’t Forget Training Even those who seem like natural-born leaders will benefit from some formal guidance. Give promising employees exposure to meetings with executives and other key aspects of your job. You want succession
candidates to gain a broader understanding of the company’s vision and its goals, in addition to the finer aspects of your work. If you’re with a larger organization, you might have other managers in the company serve as mentors, providing advice in areas in which they excel, such as negotiation or developing business plans. This can provide a variety of fresh perspectives. Formal classes may also prove beneficial. Someone who’s been primarily focused until now on front-line IT work may need courses in areas such as finance and public speaking, for example.
Do Make a Plan Be sure you monitor how the succession planning process is advancing. Are your protégés receiving the necessary training? Are you including them in key meetings? Are the employees making progress? Provide ongoing feedback on performance to ensure your potential successors are on the right track, even if you haven’t spelled out your plans. Set measurable objectives, too, such as completing a course in budgeting or leading an important meeting by a particular date. The logical end result of succession planning is a candidate who is promoted when the time arrives or is given enhanced lateral opportunities. When the announcement is made, it sets a positive example for the entire team. It shows employees that hard work will be recognized and can lead to new possibilities within the organization. n
John Reed is the Senior Executive Director of Robert Half Technology www.rht.com, www.twitter.com/RobertHalfTech
Disaster Recovery with Ancero’s Utility VoIP Utility VoIP is flexible, scalable and provides fault tolerance for your business class phone system. When disaster or power failure strike, Utility VoIP is there to assure the security and functionality of your system. Utility VoIP will dramatically reduce your telecommunications downtime so that you avoid business downtime.
TechNews | www.njtc.org | April 2013
NJTC FinTech Conference A conference highlighting Financial Technologies and Services
Entrepreneur Bootcamp An intense day long conference April 23, 2013 Rutgers Busch Campus Piscataway, New Jersey The target audience is pre-seed to early stage entrepreneurs, individuals seeking to start a technology company, pharma and IT professionals contemplating a transition, and others. Attendees will be introduced to expert speakers and a support network of service providers that will continue to serve as potential resources for the entrepreneur. Topics to be covered include the elements of a winning business plan/executive summary, the ABCs of Raising Capital, recruiting/retaining/ rewarding a winning management team, a series of roundtable discussions with experts, and CEO success stories. Email Joan Praiss at firstname.lastname@example.org for more information
June 5, 2013 Opera Solutions 10 Exchange Place, 11th Floor Jersey City, New Jersey The NJTC will present a Financial Technologies Conference showcasing the best and most innovative financial and banking technologies. New Jersey has been known as the home for new and innovative technologies since Thomas Edison. Recently New Jersey has been recognized as a premier destination for Financial Technology Companies and their supporters. The financial technology environment is a dynamic, high-pressured, fast-paced world in which developing fast and efficient technology and systems is of primary importance. This conference addresses the needs of the growing financial sectors as they seek to develop and implement an effective FinTech framework. Discussions will cover key topics in Capital Markets and Payments and Consumer Financial Services. Anticipated attendance is 75-100 industry experts, financial executives, fintech entrepreneurs, venture capitalists, and industry analysts.
CFO Awards Breakfast celebrating deals, investments and success stories June 12, 2013 Forsgate Country Club, Monroe Twp., NJ NJTC is pleased to present the annual CFO Awards Breakfast celebrating amazing deals, investments and success stories. Three finalists will be selected from each of the following award categories: • CFO of the Year • Deal of the Year • Financier of the Year • Hall of Fame This event draws a full house each year with rave reviews. Consider nominating your CFO or that of a client or customer.
2013 New Jersey Health Information Technology Summit “Technologies Driving the Digital Healthcare Revolution” July 11, 2013 NJ Hospital Association, Princeton, NJ The explosion of technology innovation is leading to real time intelligence and harnessing information to alter the way that healthcare is being administered, how clinical trials are being conducted, how R&D is using predictive modeling and the ultimate promise of reducing healthcare cost. What are these technologies that are driving the digital healthcare revolution? Are practitioners, institutions, and educators embracing this revolution? How will medical devices change the patient healthcare provider relationship? What role does privacy, security and the reliability of digital information play? Join the NJTC and a diverse group of practitioners, educators, and industry leaders in identifying the next steps and separate the hype from the promise of digital health.
Mark your calendar today! Register at www.njtc.org NJTC Event Sponsorships Available Contact Joan Praiss at JPraiss@njtc.org
NJTC photo gallery NJTC CIO Conference 2013 BIG DATA: Harnessing the Value
This year’s CIO Conference focused on Big Data with featured speakers from IBM Watson, Deloitte Analytics, Comcast and more . . . NJTC announces the winner of the CIO of the Year Award, Jo Ann Saitta, Group DCA General Manager & CIO, PDI Inc. This award is designed to recognize a chief information officer for their innovation and creativity in planning and deploying their enterprise systems, future IT goals, management philosophy and service to the industry and community. Photo 1: L-R Nancy Lurker, CEO, PDI and Jo Ann Saitta WINNER CIO of the YEAR AWARD Photo 2: CIO of the Year Awards Winner and Finalists: Christina Giglio, Division Director, Robert Half International, Inc.; Thomas Cioffe, Jr., CIO, Compensation Solutions Inc.; Jo Ann Saitta, Group DCA General Manager & CIO, PDI Inc.; Paul Henderson, Princeton Plasma Physics Lab (on behalf of Steve Baumgartner, CIO, Princeton Plasma Physics Laboratory); James Eichmann, CTO, Billtrust Photo 3: Signature Sponsor: Oracle Photo 4: Platinum Sponsor: Comcast Business Class - L-R Gabriella Vacca, VP, System Engineering, Comcast; Ian Gallagher, Sr. Marketing Manager, Comcast Business Class; Keynote Speaker: Robert Ivins, VP, Data & Research, Comcast Photo 5: Panel L-R: Tom Gordon, VP & CIO, Virtua Health, Inc.; Guy Story, CTO & Chief Scientist, Audible; Jo Ann Saitta, Group DCA General Manager & CIO, PDI Inc.; Jim Fisher, Big Data Sales Consulting Manager, Oracle; Panel Moderator: Joe Weinman, Senior Vice President, Cloud Services & Strategy, Telx; Andrew Sheppard, Financial Professional & Quantitative Analyst Photo 6: Breakout Session presented by Mary Hildebrand, Member, Tech Group, Lowenstein Sandler Photo 7: Featured Speaker: John Lucker, Principal, Deloitte Consulting
“Gamification” and the Enterprise – Perfect Together Panel: Gabe Zichermann, Chair of GSummit; Rich Napoli, Chief Operating Officer, ObjectFrontier Software; Drew Napoli, Gamification Specialist at ObjectFrontier, Inc.; Mike Vesey, CFO, Majesco Entertainment
CFO Roundtable-Creative Capital Panel: Robert Olanoff, CFO, Systech International; Michael Nardo, EVP Northeast U.S. Market Executive Corporate Banking, PNC Bank; Gregory Clark, Managing Director, Horizon Technology Finance; Thomas V. Giannone, Managing Principal, Cresa
TechNews | www.njtc.org | April 2013
Tech Trek to Washington NJTC joined two national technology associations, CompTIA and the TECNA to advocate for technology sector priorities on Capitol Hill during our annual Tech Trek to Washington. NJTC members, led by Maxine Ballen, President & CEO, met with the New Jersey delegation, one-by-one to focus their attention on policies that strengthen IT security, encourage workforce development, modernize the tax code and protect access to capital. Member industry priorities were also highlighted such as national standards for data breaches, the need for updated telecomm regulations, support for (a) release of greater spectrum quantity, (b) defense spending in the areas of cybersecurity and R&D, (c) research in alternative energy programs for SMB entrepreneurs.
1. 2013 NJTC members who joined us in Washington: Richard White/Silicon Valley Bank - Hoosen Mahmud/Advanced Pharmaceuticals - Louis Taschek/Helios Products - Richard Goldberg/R2 Associates - John Houghton/Nephros - Richard Napoli/ObjectFrontier - Kevin Pianko/WeiserMazars - James Spencer/IBiquity Digital Corp. - Charlene Brown/AT&T - Doug Schoenberger/Verizon - Murray Luftglass/Helios Products 2. Center: Congressman Rush Holt 3. Congressman Leonard Lance 4. Center (red tie): Congressman Robert Andrews 5. L-R: Doug Schoenberger, Verizon and Charlene Brown, AT&T
Technology Idea & Demo Day
Companies showcased their ideas or demos of potential new products for review in front of investors, technology executives and others. Best submission and runner up were selected by audience members and the Reality Check Team. Photo 1: Reality Check Team: Left Side: Wendy Oliveras, Founder & CEO-Oliveras & Company, Inc.; Daryl Bryant, CEO - StartUpValley; Moderator: Alan Wink, Director - EisnerAmper LLP - Right Side: Judith Sheft, Associate VP, Technology Development, NJIT; Conrad Leao, VP, Operations DATA, Inc. and Bob Blochlinger, Group Manager/ SVP Commercial Strategies - Wells Fargo Bank N.A. Photo 2: 1st Place Winner - Frank Zammataro, President & Co-Founder â€“ Rentricity (Center) Photo 3: 2nd Place Winner: Mark Nelson, COO - Revelstone LLC 2
TechNews | www.njtc.org | April 2013
NJTC New Members
As of February 2013
Information Technologies BRUNS-PAK 999 New Durham Road Edison, NJ 08817 732-248-4455 www.bruns-pak.com Paul Evanko, Dir. of Sales & Marketing - email@example.com BRUNS-PAK helps enterprises in industry, academia and the public sector create robust design/build solutions for mission-critical data centers — solutions that accommodate evolving trends like cloud computing, skyrocketing demand from new applications, and increasingly important sustainability and energy efficiency goals. We bring design innovation together with engineering excellence and IT know-how to create successful data center design, construction and commissioning solutions for clients of all sizes.
Information Technologies 3i Infotech, Inc. 450 Raritan Center Parkway Suite B Edison, NJ 08837 877-715-5440 www.3i-infotech.com 3i Infotech (www.3i-infotech.com) is a global information technology company which provides technology solutions to customers in more than 50 countries across five continents. The company offers IT services, Software Products and business process outsourcing (BPO) to markets such as banking, financial services, insurance, government, manufacturing, retail, telecom and utilities. 3i Infotech is a member of the WorldBlu List of Most Democratic Workplaces.
FocusedBuyer LLC 3580 Westwood Drive Easton, PA 18045-3030 908-265-9136 www.focusedbuyer.com Donald Jean, President firstname.lastname@example.org Turnkey, expert, cloud-based purchasing / procurement system for start-ups; micro businesses; SMBs; public entities; non-profits; trade organizations and niche applications for large companies and corporations. Spend & manage your money wisely on products, components, goods and services.
Hitachi Data Systems 242 Old New Brunswick Road Piscataway, NJ 08854 980-322-7770 www.hds.com Gail Sockwell-Thompson, Marketing Manager email@example.com
Hitachi Data Systems provides best-in-class information technologies, services and solutions that deliver compelling customer ROI, unmatched return on assets and demonstrable business impact.
Perfect Solutions 2408 New Road Northfield, NJ 08225 609-601-5252 www.perfectss.com Brittany MacNeil - firstname.lastname@example.org Perfect Solutions has been in continual operations since 2005 and is located in Northfield, NJ. We are a smallsize business with a talented and certified full-time staff and have an infinite Talent pool formulated from our strategic partnerships with hardware and software industry leaders. We are a scalable organization and capable of supporting clients throughout the Continental U.S. Currently, most of our consumer, enterprise and government clients are based throughout Southern NJ and the Philadelphia region. Our commitment to quality and client satisfaction has earned us an impeccable reputation for quality work and a high client retention rate. Our compounded annual growth rate averages 50% since our inception and more than 60% of our clients originate from referrals. Our innovative products are forward-thinking and meet all industry standards and best practices. These products afford our clients a wealth of possibilities with streamlined, repeatable, and effective solutions for all of their IT needs. Perfect Solutions, Inc. maintains active licenses and certifications with the world’s largest hardware and software manufactures.
Pyramid Consulting 237 South Street Morristown, NJ 07960 908-837-9106 www.pyramidci.com Tejas Bhuptani, Branch Director email@example.com Pyramid Consulting is a leading IT services company with prime emphasis on IT staffing and outsourced delivery services. Formed in 1996, Pyramid has grown to 2400 IT consultants and employed serving clients in the US, Europe and Asia.
Radiation Electronics/Radrep Tech Assoc 23 Tamarack Drive Succasunna, NJ 07876 908-305-1076 www.radrep.com Don Fast, President - firstname.lastname@example.org We are a manufacturers’ representative/reseller dedicated to sales and support for technology products in the Embedded, Mil/Aero, Avionics, Enterprise IT, Industrial and Medical markets. Our region includes: NJ, Metro NY and Eastern PA.
TechNews | www.njtc.org | April 2013
[sensato] 12 Imbrie Place Sea Bright, NJ 07760 609-945-1965 www.sensato.co John Gomez, CEO - email@example.com [sensato] is a software development firm that makes sense on Healthcare Information Data! Clinical, Financial, Outcome, Pharmacological, Research If data is produced by a Healthcare Information System, Machine or Practitioner we make sense of it! [sensato] is all about the analysis, correlation, crunching, formulating and sharing of healthcare data. Our software Bots rely heavily on Artificial Intelligence, Gaming concepts, Social Algorithms and advanced computing. We also add a pinch of magic and fun into each and every bot that leaves our workshop.
Life Sciences 153 Global Vision, LLC. 20 Court Street 2nd Floor Hackensack, NJ 07601 718-216-4115 www.trademart.com Heebong Choi, President - firstname.lastname@example.org 153 Global Vision is a technology company provides solutions for education, infection control, GIS, and general public. The company has innovative solutions with UWB technology. The company has various innovative technologies that can be applied to mobile devices.
MicroDysis Inc. 1200 Florence-Columbus Road Bordentown, NJ 08505 609-642-1184 www.microdysis.com Joseph Huang, President email@example.com MicroDysis is an instrumentation company, developing micro fluidic devices and equipment for oligonucleotide synthesis and other applications in life science industries.
Service Providers Szaferman, Lakind, Blumstein & Blader, PC 101 Grovers Mill Road Suite 200 Lawrenceville, NJ 08648 609-275-0400 www.szaferman.com Richard Catalina, Of Counsel Szaferman Lakind, , AV rated by MartindaleHubbell™, is a full service law firm with a multifaceted team of attorneys who provide value driven, legal representation for technology companies, including intellectual property, transactional, corporate, tax and financing based legal services.
TechLaunch c/o Casabona Ventures 100 Fayson Lakes Road Kinnelon, NJ 07405 www.techlaunch.com Travis Kahn, Executive Director - travis@ techlaunch.com TechLaunch LLC, a Technology Accelerator which provides seed funding and a LaunchPad business boot-camp to aspiring entrepreneurs.
Education Global Academy of America 311 Fairview Ave., 3rd FL Fairview, NJ 07022 201-945-0600 www.globalacademyofamerica.com Anil Veziroglu, Co-director firstname.lastname@example.org Global Academy of America is a State of New Jersey Department of Labor and Workforce Development approved training provider and vocational school located in Fairview, NJ. Our team of professional instructors and dedicated career counselors are here to help our students achieve their academic goals and advance in their career. We specialize in language, computer, IT and accounting software training.
Renewals ACIN - Camden Center www.acincenter.org Adaptik Corporation • www.adaptik.com Antenna Group c/o Beckerman Public Relations www.beckermanpr.com ASTIR IT Solutions • www.astirit.com AWT Private Investments www.awtprivateinvestments.com BeamaLife Corporation www.BeamaLife.com Bergen Community College http://www.bergen.edu Binary Tree, Inc. • www.binarytree.com CAI (Computer Aid, Inc.) • www.compaid.com ColorQuick • www.colorquick.com Cresa NJ – North/Central LLC www.cresa.com/njnorthcentral Cross River Fiber LLC www.crossriverfiber.com DATA, Inc. • www.datainc.biz Datapipe • www.datapipe.com DBSi • www.dbsintl.com DSA • www.dsainc.com Foundations Business Development Group www.FoundationsBusiness.com Glen Mills, Inc. • www.glenmills.com JCP&L/ A FirstEnergy Company www.firstenergycorp.com K&L Gates LLP • www.klgates.com
Lifepoint Informatics • www.lifepoint.com Lincoln Educational Services Corporation www.lincolntech.com MedSonics US, Inc. • www.medsonics.com Merrill Corporation • www.merrillcorp.com MicroDysis Inc. • www.microdysis.com Newark Public Schools www.NPS.K12.NJ.US Ocean Power Technologies, Inc. www.oceanpowertechnologies.com Osage Partners • www.osageventures.com Paragon Solutions, Inc. www.consultparagon.com paSafeShare LLC • www.pasafeshare.com Peckar & Abramson • www.pecklaw.com Princeton Center for Educational Services www.princetoncenter.com Pyramid Consulting http://www.pyramidci.com Radiation Electronics/Radrep Tech Assoc www.radrep.com RHW Associates • www.rhwassociates.com Silicon Valley Bank • www.svb.com Soltage, LLC • www.soltage.com Sophion Bioscience Inc. USA www.sophion.com Starship Enterprises, LLC www.starshipllc.com/ Susquehanna Growth Equity, LLP (SGE) www.sgep.com Symbiomix Therapeutics, LLC(fka LifeQual) www.Symbiomix.com Vision Point Systems www.visionpointsystems.com Yorktel • www.yorktel.com Joining the NJTC Paul Frank • Ext 222 • email@example.com Membership Services Judy Storck • Ext 246 • firstname.lastname@example.org Member Relations Manager Ellen Stein • Ext 228 • email@example.com
TechNews | www.njtc.org | April 2013
NJTC Board of Directors Chairman of the Board Simon Nynens, Wayside Technology Group, Inc. Co-Chair Virginia Alling, PNC Bank Board Members Mel Baiada, BaseCamp Ventures Maxine Ballen, New Jersey Technology Council Joel Bloom, New Jersey Institute of Technology Robert Bothe, Opera Solutions James Bourke, WithumSmith+Brown, PC Skip Braun, Deloitte Charlene Brown, AT&T Leslie Browne, Senesco Technologies, Inc. Michael Christman, Coriell Institute for Medical Research John Clarke, Cardinal Partners Mark Clifton, SRI Sarnoff Corporation Steven Cohen, Morgan Lewis Kathleen Coviello, New Jersey Economic Development Authority Saki Dodelson, Achieve3000, Inc. Patricia Donohue, Mercer County Comm. College Nariman Farvardin, Stevens Institute of Technology Mark Giamo, BDO USA, LLP Andrew Gilbert, DLA Piper Richard Goldberg, R² Associates Ian Goldstein, Drinker Biddle James Gunton, NJTC Venture Fund Darren Hammell, Princeton Power Systems Paul Hoffman, Liberty Science Center John Houghton, Nephros, Inc. Brian Hughes, KPMG LLP Michael Kacsmar, Ernst & Young LLP Carl Kopfinger, TD Bank, N.A. Flint Lane, Billtrust (Factor Systems) John Lanza, McGladrey Steve Lerner, Morris-Meyer, LLC John Martinson, Edison Ventures Dan McGrath, Maloy Risk Services Richard Napoli, ObjectFrontier, Inc. Bob Olanoff, Systech International Gregory Olsen, GHO Ventures, LLC Kevin Pianko, WeiserMazars LLP Philip Politziner, EisnerAmper LLP Ari Rabban, Phone.com Marianna Rabinovitch, ECI Technology Govi Rao, Noveda Technologies, Inc. Jeffrey H. Rosedale, Woodcock Washburn LLP James Russo, Princeton Financial Systems Douglas Schoenberger, Verizon Eric Shepcaro Telx David Sorin, SorinRand LLP Stephen Waldis, Synchronoss Technologies
NJTC CAlendar SBIR WORKSHOP FOR LIFE SCIENCE COMPANIES April 11 • 8:30 AM - 10:30 AM Drinker Biddle 105 College Road East, Princeton , NJ Members: Free
The NJTC Life Science & Health IT Industry Network is offering a workshop on SBIR Funding for C-Level members of the Council. The Workshop will highlight how to access funding under the Small Business Innovation Research Program. Attendees will learn how to apply for and win the grants and contracts available through SBIR, and how to stay on track for success and achieve next level funding. Attendance is limited to C-Level Council Members leading Life Science, Health, Medical Device and Medical Technology companies. Moderator: Ian P. Goldstein, Partner, Drinker Biddle Presenting: Frederick J. Fritz – Founder, President, CEO, NeuroDx ; Randy Harmon, NJSBDC/Rutgers Business School
WHAT’S NEXT IN MOBILE, IT AND SECURITY April 18 • 4:00 PM - 7:00 PM Juniper Networks OpenLab The Junos Center for Innovation 200 Somerset Corporate Boulevard Bridgewater, NJ Members $25.00 • Non-Members $50.00
What’s Next in Mobile, IT and Security - Join us for presentations from an array of research and development efforts from the region’s universities and companies. The presentations will include product demonstrations that will provide participants with a glimpse of technologies and product developments in areas such as embedded technologies, BYOD, software defined networks, M2M and capacity. Presenters include: Beauford Atwater, Head, Strategy and Business Intelligence, Business Unit Support Solutions, Ericsson; Ron Guida, Prinicipal Consultant, Cloud Services, Verizo; Rob Horner, Mobile Solutions Business Development Lead, Juniper Networks; Joe Weinman, SVP, Cloud Services & Strategy, Telx
Technology and Entrepreneurship Week April 22 - April 26, 2013
The Technology & Entrepreneurship Talent Network and The New Jersey Technology Council are hosting the first annual NJ’s Tech & Entrepreneur Week. This week is dedicated to creating awareness of the many opportunities for employment and business growth in the NJ Technology sector. This is also an opportunity for entrepreneurs to learn and network to create new and sustainable businesses.
A series of events will be offered throughout the week to create state-wide attention and awareness of career opportunities in Technology & Entrepreneurship that will provide continued economic prosperity in NJ.
Monday, April 22, 2013 How To Make New Jersey a High Tech Hub
What Technology & Infrastructure is needed for NJ to Compete at a Global Level Rowan University, Rowan Hall, College of Engineering – Betty Rowan Auditorium Supported by AT &T
Tuesday, April 23, 2013 Entrepreneur Boot Camp
Rutgers University-Busch Campus An intense day-long conference of speakers and panel discussions for pre-seed and early stage entrepreneurs
Wednesday, April 24, 2013 Share the Vision: New Jersey Technology Council Tech & Science Showcase
Lincoln Technology Institute, Paramus NJTC’s Share the Vision: “Technology and Science Showcase” will present discussion, panel presentations and exhibits around the latest trends and innovative technologies driving the growth and development of technology in the Northern New Jersey region.
Thursday, April 25, 2013 People 2 Business Health Options Worldwide, Somerset
An event linking middle to top executive level industry professionals with small and early stage technology based companies.
Friday, April 26, 2013 Bridging the Gap Interview Workshop
Burlington County One Stop Career Center These workshops are designed for job seekers interested in obtaining a position in technology. The workshop will address practical job search strategy and interview practice with hiring managers and executives.
For additional information about Technology and Entrepreneurship Week see page 5 of this issue or visit www.njtc.org
TechNews | www.njtc.org | April 2013
CEO FORUM - HOW TO FAIL LESS May 2 • 8:00AM-10:00AM Wayside Technology Group, Inc. 1157 Shrewsbury Ave., Shrewsbury, NJ
This program is open to NJTC Member CEOs of Technology and Life Science companies Join Simon Nynens, CEO, Wayside Technology Group to hear about lessons learned while building his career and our company. Simon will share examples of what not to do, anecdotes and stories about what worked and what did not. This interactive discussion will focus on an honest assessment and lessons for others as to how to fail less.
SOFTWARE ENGINEERING LEADERS May 2 • 12:00 - 2:00 Szaferman, Lakind, Blumstein & Blader, PC 101 Grovers Mill Rd, Lawrenceville , NJ Members FREE • Non-Members $50.00
The NJTC launched a new peer networking group to bring together VP and Director level leaders of Software Engineering teams. This is a great opportunity to share experiences and learn from other leaders across our region. This group will hold discussions around the topics that are most relevant to our members including areas of interest such as: • Management topics such as the challenges of Leading and Motivating technical people • Development Methodologies, Operations and Tools • Emerging Technologies This meeting will feature a presentation on trends and legal issues around independent contractors/ consultants. The meeting is open to VP and Director level leaders of Software Engineering teams. Network Sponsors Sparta Systems, Inc. Szaferman, Lakind, Blumstein & Blader, PC
NJTC / DAVINCI TEK BREAKFAST SERIES May 7 • 8:30 AM - 10:30 AM Urban Table 40 West Park Place, Morristown, NJ Members $35.00 • Non-Members $70.00
Join NJTC and DaVinci Technology for the first session of a quarterly breakfast series in downtown Morristown. The presentations will be inspired by the daily advances in technology that affect our lives in countless ways. The breakfast program will include a featured speaker, two elevator pitches by NJTC member companies and networking time. Our first presenter is Donald Sebastian, Ph.D., Senior Vice President for Research and Development at New Jersey Institute of Technology. Dr. Sebastian is responsible for academic affairs across all six colleges as well the academic research enterprise, developing partnerships with industry
SAVE THE DATE
TECHNOLOGY IDEA AND DEMO DAY June 10 • 4:00 PM - 7:00 PM Taipei Economic and Cultural Office New York, NY
and managing governmental affairs, intellectual property development, business incubation, commercialization, and contract projects across the technology spectrum. Under his leadership, the university’s sponsored research grew to over $90M in 2008, placing NJIT in the top 10 engineering universities in the nation, while Federal funding doubled over the last seven years. In 2006 he was inducted into the New Jersey High-Tech Hall of Fame.
FINTECH CONFERENCE June 5 @ 8:30 AM - 2:00 PM Opera Solutions 10 Exchange Place, Jersey City, NJ
Members $25.00 Non-Members $50.00
Ideas can be vague things, but we want to help those ideas become a reality. Join us for NJTC’s second Technology Idea and Demo Day at Wells Fargo in Summit, NJ. You can submit your idea for review and get feedback from a group of experts as well as audience members. To submit your idea: www. surveymonkey.com/s/NJTCIdeaDemoDay4 Networking Reception following the program
Technology Idea and Demo Day May 9 • 4:00 PM - 7:00 PM Marlabs, Piscataway, NJ Members $25.00• Non-Members $50.00
Ideas can be vague things, but we want to help those ideas become a reality. Join us for NJTC’s second Technology Idea and Demo Day at Wells Fargo in Summit, NJ. You can submit your idea for review and get feedback from a group of experts as well as audience members. To submit your idea: http://www.surveymonkey.com/s/NJTCIdeaDemoDay3 Networking Reception following the program
HEALTH INFORMATION TECHNOLOGY SUMMIT July 11 • 8:00 AM - 3:30 PM New Jersey Hospital Association 760 Alexander Road, Princeton, NJ Members $60.00 • Non-Members $60.00
The explosion of technology innovation is leading to real time intelligence and harnessing information to alter the way that healthcare is being administered, how clinical trials are being conducted, how R&D is using predictive modeling and the ultimate promise of reducing healthcare cost. Join the NJTC and a diverse group of practitioners, educators, and industry leaders in identifying the next steps and separate the hype from the promise of digital health.
CFO AWARDS BREAKFAST – NOW ACCEPTING NOMINATIONS June 12 Forsgate Country Club Members $60.00
MOBILE APPS FORUM & COMPETITION June 20 Fairleigh Dickenson University The Mansion, Madison , NJ Members $25.00 • Non-Members $50.00 • Students $10.00
NJTC ANNUAL MEETING July 18 @ 11:00 AM - 2:00 PM The Palace at Somerset Park 333 Davidson Av,e Somerset , NJ Members $85.00 • Table $800.00
For updated information or to register for NJTC events, visit www.njtc.org
NJTC Industry Networks present programs about opportunities and challenges facing NJ technology companies by industry segment. Electronics, Advanced Materials & Manufacturing Patron Sponsors: EisnerAmper Woodcock Washburn LLP Contact: Paul Frank • Ext 222 firstname.lastname@example.org Ellen Stein • Ext 228 email@example.com Enviro-Energy Industry Patron Sponsors: Morgan Lewis WeiserMazars LLP Woodcock Washburn Contact: Paul Frank • Ext 222 firstname.lastname@example.org Ellen Stein • Ext 228 email@example.com
IT/Software Patron Sponsor: BDO Contact: Leo Mennitt • Ext 227 firstname.lastname@example.org Judy Storck • Ext 246 email@example.com Life Sciences & Health IT Patron Sponsors: Drinker Biddle Fox Rothschild LLP McGladrey Contact: Leo Mennitt • Ext 227 firstname.lastname@example.org Meredith Meyer• Ext 234 email@example.com Telecommunications/Media Patron Sponsor: Verizon New Jersey Contact: Paul Frank • Ext 222 firstname.lastname@example.org Judy Storck • Ext 246 email@example.com
NJTC Peer Networks bring together like-minded technology professionals to share common issues, learn best practices and gain perspective across all technology industry segments. CEO Forum Patron Sponsors: Morgan Lewis • TriNet WithumSmith+Brown Contact: Ellen Stein • Ext 222 firstname.lastname@example.org CFO Peer Network Patron Sponsors: Cresa NJ – North/Central LLC Ernst & Young, LLP Contact: Martine Johnston • Ext 244 email@example.com CIO Peer Network Patron Sponsors: Oracle • telx Contact: Karen Lisnyj • Ext 229 firstname.lastname@example.org
TechNews | www.njtc.org | April 2013
Government Affairs Contact: Karen Lisnyj • Ext 229 email@example.com Software Engineering Leaders Peer Network Patron Sponsor: Sparta Systems Szaferman, Lakind, Blumstein & Blader, PC Contact: Leo Mennitt • Ext 227 firstname.lastname@example.org Venture Capital and Financing Patron Sponsors: TD Bank N.A Contact: Ellen Stein • Ext 228 email@example.com
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