Draper Fisher Jurvetson, DFJ Frontier and Zone Ventures Award $250,000 to Winners of Third Annual Venture Challenge

Business Wire, June 4, 2007

Fourteen Teams from Twelve Universities Compete for Start-Up Funding; Stanford Team Prevails

MENLO PARK, Calif. -- Leading early-stage venture firms Draper Fisher Jurvetson and its affiliates DFJ Frontier and Zone Ventures hosted the third annual DFJ Venture Challenge on Wednesday in Menlo Park. Fourteen teams of entrepreneurs from 12 California universities competed in the event. Each team presented its business plan to the competition's ten judges, with five of the teams being selected to compete in the final round.

The team from Stanford University, d.light design, took the top honor and $250,000 in venture capital funding. d.light design's mission is to develop and commercialize sustainable lighting and power solutions for underserved markets in areas without access to electricity.

"The competition at the DFJ Venture Challenge gets stronger every year," said Tim Draper, managing director, DFJ. "Every one of the five final teams probably had a fundable business in some shape or form. We're excited to have chosen d.light design, and we're looking forward to helping them grow and be successful."

"We are thrilled to be chosen from such a strong field of competitors," said Sam Goldman, founder and chief executive officer, d.light design. "The resources of the DFJ Network will be invaluable as we work to bring safe and affordable light and power to millions of people around the world."

Angel investors, venture capitalists, entrepreneurs and service providers were in attendance, providing all competitors the opportunity to find funding and other resources. The event's sponsors included Goldman Sachs, the law firm Manatt, Phelps & Phillips, Comerica Bank, MacCorkle Insurance Services, PlugandPlayTechCenter.com, and public relations firm Prequent, Inc.

For more information, please visit: http://www.dfj.com/venturechallenge/index.html.> About Draper Fisher Jurvetson

Draper Fisher Jurvetson is the pre-eminent venture capital firm with global presence through a network of affiliated funds, with offices in more than 30 cities around the world and over $4.5 billion in capital commitments. DFJ's mission is to identify, serve, and provide capital for extraordinary entrepreneurs anywhere who are determined to change the world. Over the past twenty years, DFJ has been proud to back more than 300 companies across many sectors, including such industry-changing catalysts as Hotmail (acquired by MSFT), Baidu (BIDU), Skype (acquired by EBAY), United Online (UNTD), Overture (acquired by YHOO), Interwoven (IWOV), Four11 (acquired by YHOO), Parametric (PMTC), and Digidesign (acquired by AVID). For more information, visit: http://www.dfj.com.

About DFJ Frontier

DFJ Frontier is a venture capital fund known for early stage investing in a broad range of technology companies throughout California, with a focus on the Central Valley and Central Coast. DFJ Frontier backs passionate entrepreneurs and provides business assistance, not just capital. The firm typically leads the first round of investment, taking a significant stake in the company and an active role on the Board of Directors. DFJ Frontier is an affiliate of Draper Fisher Jurvetson, and has offices in Sacramento and Santa Barbara, California. For more information, visit: http://www.dfjfrontier.com.

About Zone Ventures

Zone Ventures is a partnership funded by institutional investors for the purpose of providing equity capital to early-stage high-growth companies, with a focus on information technology businesses. Zone is located in Los Angeles and has been instrumental in building the Southern California Technology Community, forging relationships with universities, R&D labs, entrepreneurs and financial institutions to bridge the gap between the revolutionary technologies of tomorrow and the investment capital of today. Besides capital, Zone Ventures provides strategic development and relationships to its portfolio companies. They are active board members and have the energy, experience and contacts to help take the company to the next stage and beyond. For more information, visit: http://www.zonevc.com.