Advancing Technology through Entrepreneurship

For Homeland Security Tech Start-Ups, Knowledge Is Power and incuTrack is the Tool

Cybergroup and CIC Take Incubator Extranets to the Next Level

Baltimore, Maryland (Aug. 26, 2004) — When the CEO of a member company at the Chesapeake Innovation Center (CIC) needs insider tips on winning a state grant, she doesn’t have to track down a busy peer at the water cooler for advice – instead the information and supporting documents are available 24/7 on a highly secure extranet site. If an executive has a big meeting coming up and urgently needs help on a financial model from an expert advisor, the advisor can review the model and make comments from anywhere at any time. As an entrepreneur and the CIC consulting team work together to plan and achieve critical milestones, they can easily share notes and track their progress.

All this is possible with the enhanced collaboration software now offered by Cybergroup Inc, provider of incuTrack™, a Web based information tracking and reporting system for business incubators. incuTrack is now being implemented by the CIC, America’s first business incubator serving the homeland security high-technology sector.

incuTrack™, has become a leader in the business incubation industry by offering an easy to use, Web interface that helps manage administrative data such as leases, business statistics, and real estate information needed to run an incubator. The software also allows managers to provide business assistance to their clients. For the CIC, Cybergroup has added tailored features to enhance the delivery of consulting services, the ease of collaboration, and the sharing of critical market intelligence. The CIC also uses incuTrack to save and share best practices, lessons learned and business documents developed by its members during specific business processes – allowing other members to save time and money when they tackle similar projects.

“incuTrack’s administrative features save our team time – time that can be invested in helping our member companies and partners achieve their business milestones. The software’s new features allow us to offer our consulting and business services far more effectively, making advice from world-class executive advisors and critical information and market intelligence available to our members on a rapid and constantly updated basis,”, said John Elstner, CEO of the Chesapeake Innovation Center.

“The CIC is known for its powerful business network and deep market intelligence – it provides an excellent pilot site for incuTrack’s enhanced collaboration modules”, said Greg Bean, CEO of Cybergroup Inc. “To achieve success in the high technology sector, and especially in the complex homeland security space, companies need the right knowledge at the right time. We’re helping the CIC provide that knowledge to its members.”

About Cybergroup Inc.: Cybergroup Inc. (www.cybergroup.com) is a provider of innovative Web based software products such as incuTrack™. A graduate of the techcenter@UMBC Incubator Program, and a finalist in the 2004 Maryland Incubator Company of the Year Awards, Cybergroup has a clear understanding of a startup company’s needs and the services and support necessary to help them flourish. Leveraging this background and experience, and working together with incubator managers, Cybergroup provides incuTrack™ -- "the complete business incubator and technology center solution".

About the Chesapeake Innovation Center: The Chesapeake Innovation Center is a public-private partnership supported by the Anne Arundel Economic Development Corporation (AAEDC) in partnership with the National Security Agency, ARINC, Innovent Nokia, ARINC, Piper Rudnick, LLP, Whiteford Taylor and Preston, LLP, Kelly FedSecure, and Sturn Wagner Lombardo & Company. Based in Annapolis, MD, it now serves fourteen high technology companies with plans to increase that number substantially in the near future in response to strong demand for its services. The CIC helps client companies achieve success by providing them with strategic business assistance, mentoring, market intelligence, flexible office space and exposure to networks of potential investors, customers and strategic partners.