The Washington Post

As the federal government looks to curtail spending in the coming years, the strength of the region's economy may depend on its ability to attract a bevy of science and technology companies, according to George Washington University President Steven Knapp.
In a speech before the Rotary Club of Washington last week, Knapp cited the lack of an elite research institution here as a substantial impediment because such schools often produce graduates with the skills sought by tech firms.
As an example, he cited a large graduate school focused on high- tech fields that is taking shape in New York City to bolster that local economy, particularly after the recession weakened its once- dominant finance sector.
"We have a similar situation here," Knapp said. "We're not really dependent on the finance industry, but there is something we're dependent on: It's called the federal government, and it shows every sign of potential shrinkage in the coming years."
GWU has made moves to bolster its research chops. Construction is under way on a 500,000-square-foot science and engineering building at the school's primary campus in Foggy Bottom.
The university has also expanded its footprint to include a 100- acre campus in Ashburn that houses several research centers - including centers that analyze automobile crashes and the impact of earthquakes on infrastructure.
"We have a relatively small engineering school, but we're building it up partly in order to fill this need that I see in the District of Columbia and the region to have more university-based science and technology here so that we can provide the kind of talent and kind of intellectual resources that will attract technology companies and others to the District of Columbia," Knapp said.
He admits the emphasis on science and technology research may seem strange for a university that's better known for graduates who pursue careers in public policy, international affairs and law.
But Knapp, who has an academic background in English literature, asserts that these once-self-contained fields have grown increasingly intertwined.
"You can't have credibility in policy unless you also have credibility in science and technology because so much policy these days concerns matters of science and technology," he said.
An exit and a start
Amplifier Ventures, the early stage investment fund run by Jonathan Aberman, saw Boston-based CardStar exit its portfolio last week when the company sold for an undisclosed sum to marketing software firm Constant Contact.
Earlier that same week, Aberman made a seed investment in mobile security provider SpydrSafe. The McLean-based firm, which got its start in November, is co-founded by CardStar's now-former chief operating officer Michael Pratt.
One company in. One company out.
"Venture capital is an industry where you leave a lot of footprints in the sand as you go along," Aberman said. "You are judged not just by whether you make money for your limited partners but whether the entrepreneurs feel like you helped them achieve their goal."
CardStar's exit is significant for Amplifier as it marks the fund's first time working with entrepreneurs from the seed deal to an acquisition. The $8 million fund got its start in 2006 and has signed deals with 16 young companies in that time.
Aberman first put money into CardStar, which develops mobile apps for loyalty cards and mobile coupons, in 2009. Though the terms of last week's sale were kept private, Aberman said it would help prove to limited partners, which bankroll the fund, that he can deliver returns.
SpydrSafe aims to tackle the increasingly hot market of mobile security in the workplace. As more people use personal smartphones for business purposes, questions abound about whether a company can police such devices and how to do so effectively.
The firm's technology allows an information technology department to control the applications or features on the phone that are used for business without interfering with how an employee uses the phone outside the office.
"It's the kind of start-up I think our region is good at," Aberman said. "It's a big market. It's a big problem."
Pratt and co-founder Kevin Sapp are now seeking money to advance the product's development. Virginia's Center for Innovative Technology said today it will put $50,000 into the company.
"Now that I've put the other acquisition [of CardStar] behind me, I'm kind of focused on that full time now," Pratt said of raising capital. "I've got some people who are ready to make decisions on that in the next couple days."
Bits and bytes
The District's budding start-up community canceled plans last Wednesday for an in-person demonstration against Internet piracy legislation after a Capitol Hill hearing they had planned to attend was canceled.
Peter Corbett, who has been organizing the group's meetups for nearly a year, said that unlike counterparts in New York and other cities, the District group has not yet embraced advocacy as part of its mission.
"I think the D.C. Tech grassroots community needs to build companies. I don't think it needs to build anything outside of that," he said. "I'd like to try to stay out of the very nitty- gritty politics-and-policy side of the equation as much as possible because I don't think it's what the D.C. Tech community wants."
Looking to start a company with that special someone? Two Maryland-based entrepreneurs have createdCoFoundersLab, an online matchmaking Web site that pairs potential business partners based on their location, skills or available seed money, among other factors.
The company's own duo, Shahab Kaviani andCulin Tate, met at a networking event in the District aimed at helping entrepreneurs find co-founders. They plan to charge $50 for each successful match.