DFJ, Draper Triangle and DFJ Gotham Ventures Host First Annual East Coast Venture Challenge

Business Wire, May 3, 2007

University Entrepreneurs to Compete for $250,000 in Seed Venture Funding

NEW YORK -- Leading early-stage venture firms DFJ and its affiliates Draper Triangle and DFJ Gotham today announced the first ever DFJ East Coast Venture Challenge. Entrepreneurs from all eight Ivy League schools, New York University, and Carnegie Mellon University will have the opportunity to compete in the event which will be held on May 21st at Columbia Business School. The winning team will receive $250,000 of venture financing and free office space for up to six months.

"After two successful business plan competitions on the west coast, we are excited to bring this opportunity to budding entrepreneurs from leading East Coast schools," said Tim Draper, Managing Director of DFJ. "Our network is committed to supporting the most talented entrepreneurs around the globe. The East Coast Venture Challenge is an opportunity for young people to garner support for their world-changing ideas."

Danny Schultz from DFJ Gotham Ventures added, "New York and the rest of the East Coast are a thriving hotbed of entrepreneurship. This competition is a great chance to meet some of the region's newest entrepreneurs and help the best of them accelerate their progress toward building a valuable entity."

The Venture Challenge organizers will work with participating universities to identify and invite the most promising teams to compete. The winning team will receive a minimum of $250,000 in seed stage funding to be disbursed to the team upon the company's incorporation.

Jay Katarincic of Draper Triangle Ventures noted, "We are thrilled to co-host this event and continue to extend our outreach to and support of the university and entrepreneurial communities."

Investors, entrepreneurs and service providers will be in attendance, providing all competitors the opportunity to find funding and other resources. In addition, representatives from the event's sponsors, including Wilson Sonsini Goodrich & Rosati (www.wsgr.com), Administaff (www.administaff.com), Sunshine Suites (www.sunshineny.com) and Silicon Valley Bank (www.svb.com) will be available for questions.

For more information, visit: http://www.dfj.com/eastcoastvc.> This event is open to the press on an RSVP basis. Members of the press should contact Marie Burks at Columbia Business School to RSVP: 212.854.4622 or meb2155@columbia.edu.

About Draper Fisher Jurvetson (DFJ)

Draper Fisher Jurvetson is a leader in seed and early stage venture capital, typically serving startup's first outside source of financing. Founded in 1985, DFJ has created a network of offices in major technology centers around the world with approximately $4 billion in capital commitments. The DFJ Network has invested in hundreds of companies, including Hotmail (acquired by Microsoft), Baidu (BIDU), Skype (acquired by Ebay), United Online (UNTD), Overture (acquired by Yahoo!), Interwoven (IWOV), 411 (acquired by Yahoo!), Parametric (PMTC), and Digidesign (acquired by Avid). The network has proven expertise in identifying and helping extraordinary entrepreneurs who want to change the world.

About DFJ Gotham

Draper Fisher Jurvetson Gotham (DFJ Gotham) is a venture capital firm based in New York City focused on early-stage technology companies. The firm's first investment was made in 2000, and since then it has backed over 20 ventures spanning a wide array of technology-related sectors.

The firm partners with extraordinary teams of entrepreneurs to build category-leading businesses that make a huge impact in their industries. Investments have included Massive (acquired by Microsoft), XOsoft (acquired by Computer Associates), Mimeo and ContextWeb.

About Draper Triangle

Draper Triangle Ventures (www.drapertriangle.com) is a premier source of funding for high-technology start-up companies in the Pennsylvania, Ohio and Midwest regions. As the Midwest-based fund of Draper Fisher Jurvetson, the leader in seed and early-stage venture capital, Draper Triangle offers entrepreneurs and investors a host of benefits unrivaled in the industry. Its Managers have significant experience in founding, investing in, and growing early stage technology companies.

About Wilson Sonsini Goodrich & Rosati

Wilson Sonsini Goodrich & Rosati is the premier legal advisor to technology and growth enterprises worldwide, as well as the investment banks and venture capital firms that finance them. Over the past four decades, Wilson Sonsini Goodrich & Rosati has established its reputation by having an unmatched knowledge of its clients' industries and deep and long-standing contacts throughout the technology sector. The firm has more experienced attorneys focused on representing start-up companies seeking venture capital financing than any other law firm, and the deepest knowledge negotiating such transactions. Wilson Sonsini Goodrich & Rosati currently represents over 100 venture capital and other private equity firms, and more venture capital-backed companies than any other law firm in the U.S. www.wsgr.com.