Advancing Technology through Entrepreneurship

For Immediate Release:

ARINC and Piper Rudnick Announced as Founding Sponsors of the Chesapeake Innovation Center

Annapolis, MD (July 1, 2003) - Anne Arundel County Executive Janet S. Owens today announced ARINC and Piper Rudnick LLC as the first Founding Sponsors of the Chesapeake Innovation Center LLC (CIC), Anne Arundel County's new business incubator. CIC Founding Sponsors are private companies who contribute a minimum of $25,000 to help fund the nation's first homeland security-focused technology incubator.

“I thank ARINC and Piper Rudnick for their generous contributions and commitment to the CIC,” said County Executive Owens. “Their expertise in business, technology, and homeland security issues will be a valuable resource for the CIC client companies.”

The CIC is housed within the Anne Arundel Economic Development Corporation (a 501 (C3) non-profit corporation). Funding for the business incubator is part of the plan to create a public-private partnership. The Founding Sponsorship Program has been specifically developed to encourage contributions and support from the business community to foster the development of new technology businesses in the County.

“Our Founding Sponsors have a direct impact on the CIC's ability to connect market demands to technology solutions for homeland security based businesses in Anne Arundel County,” stated Bill Badger, president and CEO, Anne Arundel Economic Development Corporation. “By supporting the CIC, our sponsors are contributing to the economic vitality of Anne Arundel County.”

“ARINC is pleased to be a Founding Sponsor of the CIC business incubator and support the growth it will bring the county,” stated John M. Belcher, ARINC's President and CEO. “Emerging companies working on Homeland Security applications will not only provide next-generation solutions but contribute globally on a much larger scale. It is vital for ARINC with its broad experience in this arena to step up to the plate. I am delighted to be part of the inception of this far-reaching strategy.”

ARINC Incorporated, headquartered in Anne Arundel County and with 50 offices around the world, is a leader in transportation communications and systems engineering. ARINC develops and operates communications and information processing systems and provides systems engineering and integration solutions to airports, aviation, defense, government, and surface transportation.
(www.arinc.com).

Wilbert H. Sirota, co-chair of the Venture Capital and Emerging Companies group at Piper Rudnick, said, “We are excited to be involved in what we believe will be a terrific resource for developing companies in the County. The future of our economy lies in, among other things, the expansion of our business base. Clearly, the CIC will be a valuable investment in that future.”

Piper Rudnick is a top-ranked national business law firm with over 925 lawyers in offices across the country. The firm's practice is focused on business and technology, real estate, litigation, government affairs, and international issues. (www.piperrudnick.com)

Anne Arundel County has designated the Anne Arundel Economic Development Corporation (AAEDC) as the lead agency on the CIC initiative. Through the services provided by the CIC, client companies will receive coaching on business development and advice on how to raise capital to grow business. The CIC serves as a hub of technology commercialization, with a focus on the homeland security/defense, communications and information technology sectors, to generate new business formation in Anne Arundel County, Maryland. The CIC, located in Annapolis, is the first technology incubator in the nation specialized in the development of homeland security technology companies. For more information, visit the CIC website at, www.cic-tech.org or contact John Elstner, CIC Director, at 410-224-2030.