Advancing Technology through Entrepreneurship

For Immediate Release:

NSA and Nokia/Innovent Announced as Founding Partners for the Chesapeake Innovation Center

University of Maryland and Johns Hopkins Included

Annapolis, MD (July 9, 2003) - County Executive Janet S. Owens today announced the National Security Agency and Nokia/Innovent as founding partners with the Chesapeake Innovation Center (CIC), Anne Arundel County's new business incubator focusing on homeland security. Both the National Security Agency (NSA) and Nokia/Innovent have signed Memorandum's of Understanding with Anne Arundel Economic Development Corporation on behalf of the CIC.

County Executive Owens also announced that the University of Maryland (UMD), Johns Hopkins University (JHU), and Anne Arundel Community College (AACC) have agreed to be the incubator's educational partners. Brian Darmody from the UMD Office of the President, Darren Lacey, Executive Director of the Information Security Institute at JHU, and Martha Smith, AACC president will serve on the CIC Advisory Committee as a way to connect research and education with start-up businesses at the CIC.

“The partnerships with NSA and Nokia/Innovent, as well as the academic involvement of UMD, JHU, and AACC, provide exciting opportunities for the CIC and Anne Arundel County,” said County Executive Janet S. Owens. “These building blocks provide start-up companies at the CIC with strategic connections that can spur their growth. The CIC will work closely with NSA and Nokia/Innovent to identify technology-based business opportunities in the community.”

The goals of the partnerships are to create awareness of emerging technologies available in the public and private sectors, assist with the transfer and commercialization of technology from public and private sectors, and stimulate the establishment of new businesses.

The Nokia/Innovent partnership with the CIC provides a gateway between emerging homeland security activity and Nokia resources. Stephanie Keller-Bottom, Director of Nokia/Innovent, stated that, “Innovent seeks early stage entrepreneurs working on concepts that facilitate connections between people, their communities and the things that matter to them. Partnering with the CIC provides an opportunity to connect with entrepreneurs developing homeland security/defense, communications and information technologies. We look forward to housing our east coast operations at the CIC offices in Annapolis and to collaborating with the entrepreneurs there to help them create and shape the future.”

Anne Arundel County has designated the Anne Arundel Economic Development Corporation (AAEDC) as the lead agency on the CIC initiative. The CIC provides business start-up services and flexible facilities to accelerate the formation and growth of early stage technology ventures, which increases the likelihood of success. The CIC is located at 175 Admiral Cochrane Drive, in Annapolis, Maryland. All entrepreneurs are encouraged to apply for a business presence at CIC, particularly if their focus is in the security, information technology, or communications sectors. Interested parties are welcome to contact Bill Badger, AAEDC President and CEO, at bbadger@aaedc.org or by phone at 410/222-7410, or John Elstner, CIC Director, at jelstner@cic-tech.org or by phone at 410-224-2030.

About NSA (www.nsa.gov)
The National Security Agency is the Nation's cryptologic organization. It coordinates, directs, and performs highly specialized activities to protect U.S. information systems and produce foreign intelligence information. A high technology organization, NSA is on the frontiers of communications and data processing. It is also one of the most important centers of foreign language analysis and research within the Government.

About Innovent (www.nokia.com/innovent)
Innovent is an Insight and Foresight team in Nokia Ventures Organization, connecting to the pulse of emerging markets to explore innovation options for Nokia. Innovent offers a collaborative environment for early-stage entrepreneurs working on concepts that facilitate connections between people, their communities and the things that matter to them. Innovent offers expertise and resources to clarify the opportunity behind their visions and accelerate the process between concept and development and commercialization, within a framework of mutual trust.

About Nokia (www.nokia.com)
Nokia is the world leader in mobile communications. Backed by its experience, innovation, user-friendliness and secure solutions, the company has become the leading supplier of mobile phones and a leading supplier of mobile, fixed broadband and IP networks. By adding mobility to the Internet Nokia creates new opportunities for companies and further enriches the daily lives of people. Nokia is a broadly held company with listings on six major exchanges.