Jan 12, 2011

By Patrick Peterson - Florida Today

Seven Brevard companies with products ranging from a new form of satellite propulsion to a helical decoration that wraps around trees to hold potted plants pitched their wares Tuesday in Melbourne at an Entrepreneur Summit hosted by U.S. Rep. Bill Posey.

It was a second summit for Posey, R-Rockledge, who hosted the inaugural summit in October. Both were held at the Technological Research and Development Authority.

Posey said the goal is to help fledgling companies connect with the investors who can help them grow.

“The bottom line is that this is about creating jobs,” he said. “Wonderful things happen when people with great ideas meet people with experience and access to capital.”

The presenting companies were ASA Entertainment Group, Baer Air Inc., Gravitec Inc., Sanswire, Squeeze It Inc., Structural Composites Inc. and ThornProducts Inc.

Despite the recession and persistent high unemployment, several members of the investor panel said the fledgling businesses might have timed the economy right for success.

“Now is a great time to be starting a company,” said Randall Poliner, the managing general partner of Antares Capital, who has had a long career in investments. “Times of turmoil are always a great time to succeed while entrenched competitors are trying to protect their turf.”

Newer companies benefit from a fresh look at the market, he added.

“An entrepreneur closer to the market clearly has an opportunity to capitalize on that,” Poliner said.
“There is capital out there always looking for a talented management team. It’s always exciting to see the enthusiasm and interesting ideas that come to a forum like this.”

The panel also included Richard McNeight, founder of Federal Systems; Charles Reisnick, managing partner, Inflexion Management; John Igoe, partner, Edwards, Angell, Palmer & Dodge; Doug Hilmes, managing partner of Growth Innovators; and F. Alan Smith, who worked for General Motors from 1956 to1992, serving as executive vice president, CFO and a member of the board of directors.

Gravitec Inc.‘s chief technical officer, Hector Serrano, was among the presenters. Gravitec is developing a new form of satellite propulsion that requires no liquid fuel.

“We think we can build the propulsion system extremely cheaply compared to the chemical systems,” Serrano said. “We think the market will become far larger.”

Panelists agreed that some of the presenters likely will find investors and complete their expansion plans.

“I think the economy’s on the verge of improving,” said Smith, who also serves as a trustee of Florida Tech. “You can find a few signs of things that are breaking loose. As people become more confident of the future, I think we can see some growth.”

This article is reprinted from www.Floridatoday.com