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Springboard 2001 Showcases Women Entrepreneurs

More than 400 people thronged to Springboard 2001 yesterday, a forum designed to readdress the lack of venture capital available for women-led businesses.

March 14, 2001
By Christine Gordon: More stories by this author:

More than 400 people -- including some 200 venture capitalists looking for new investments -- thronged the Springboard 2001 forum aimed at readdressing the lack of venture capital available for women-led businesses.

Springboard 2001 promoters say that women have long been underserved by capital markets, with only 6 percent of all venture capital going to an estimated nine million women-owned businesses.

The brainchild of the National Women's Business Council (NWBC), which launched the forum last year, Springboard 2001 featured dot-com business plans from 25 women entrepreneurs. Springboard presenters have raised a total exceeding $400 million, to date.

Among yesterday's presenters was Erotigo, an adult entertainment Vindigo of sorts.

Erotigo plans to deliver subscription-based wireless content to customers, including information about where to find adult entertainment book stores and strip clubs. This month, the company which is seeking $3 million in financing, is launching Erotiguide:NYC.

"You may or may not agree with this business, but there's lots of business in it," said Stephanie Schwab, CEO of Erotigo, who added that the adult entertainment industry nets profits that fall in the 35 percent range.

And there was EmergingMed, a Web-based patient recruitment and software company that connects cancer patients to clinical trials in their area. EmergingMed, which entered the forum seeking a Series B $8 million round of funding, is currently backed by JT Venture Partners, CK Capital and a number of angels and investors.

Courtney Hudson, president and CEO of EmergingMed, said it's impossible for physicians to recite off the top of their head the number of clinical trials available for cancer patients with specific needs. That's why the staff of seven at EmergingMed matches patients with trials according to answers based on enrollment criteria and location.

"There's terrific work going on which is getting ever more specific. Trials are looking for patients with specific problems. We will never fill those trials without a matching service like ours," Hudson said.

The company takes in between $1,500 and $2,000 per patient match, among other services including Web site hosting.

The forum was hosted by Springboard Enterprises, J.P. Morgan Partners, Quetzal/JP Morgan Partners and the Flatiron Foundation.

Springboard forums have been held in Silicon Valley, Washington DC/Mid-Atlantic and Boston/New England, with future forums to be held in Chicago/Mid-West, Dallas/Southwest and again in New England.

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